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WAK - Wakenby Limited

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website - www.ilh.com.au
They are purchasing 3 legal firms in W.A. which returned 30% profit last financial year. First ever law firm listing on ASX.
I have outlined below what I think about it.
Haved I missed anything?
Advantages
1. 30% profit 06 fin year
2. solid return as not dependent upon building a plant or commodity prices etc
3. capital appreciation through further acquisitions in sydney, melbourne and perth) and other states when laws governing ownership changes.
4. director is an experienced judge and a former Federal Government Treasurer with experience as chairman of Elders Rural Services, a founding non-executive chairman of LawCentral, a former board member of St George subsidiary Sealcorp (now Asgard Wealth Solutions).
5. he probably also comes with many great legal and other money people networks....
Disadvantages
legal people at firms leave (although there is a share reward scheme to retain employees)
Overall
a winner with good prospects in my opinion
 
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Re: ILH - Integrated Legal Holdings IPO Float 50cents

have you put any money on them?
 
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Re: ILH - Integrated Legal Holdings IPO Float 50cents

Hi, the float opens tomorrow, that is 17th October 2006.
In answer to your question, I guess I am after a bit of discussion on them. It seems okay but I want some more opinions/analysis of it first.
It looks good and I don't want to miss out, so I may go in for it,
 
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IAW - First Law Firm IPO, 50cents

:2twocents Hi I am looking at getting into this IPO for IAW - Integrated Legal Holdings. Just wanted to gauge what others think of it as it looks good to me.
www.ilh.com.au
They are acquiring 3 law firms, an internet site called lawcentral used by lawyers and accountants for documentation and a professional development company. All of which have a net positive profit earnings of 30% for 2006.
Once listed they will acquire further law firms across australia. I read an article saying they have already been approached by some 50 companies regarding acquisitions.
They also have good management which should be able to make it work and good press about it.
Float is for $14million, 50cents a share. Application date started 17 October 2006 and closing date is 27 November and the listing date (expected is 12 December).

HERE IS AN ARTICLE I FOUND on www.investordaily.com
First law firm to list on ASX
By Julia Newbould 2006-10-11
Integrated Legal Holdings (ILH) has selected financial planners to be the sponsors of its proposed float, which will see it become the first law firm listed on the Australian Stock Exchange (ASX).
Listing was only made possible last December, after a change in the law allowing non-lawyers to have ownership of law firms. IHL has entered into agreements to acquire the legal practices of Talbot Olivier, Durack Zilko and Brett Davies Lawyers as well as Internet portal Law Central and consulting group Professional Services Development.
The purchases are subject to a successful capital raising from the initial public offering (IPO), and are scheduled to occur prior to the company’s scheduled ASX listing in December.
The IPO is expected to raise $14 million, part of which will be used to acquire the businesses, which will continue to trade under their own names and participate in the profit sharing of the consolidated business.
Shareholder of Law Central and Brett Davies Lawyers principal Brett Davies said ILH made a decision to have the float sponsored through the financial planning industry, not stockbrokers, because Law Central and Brett Davies Lawyers were built on the trust of the financial planning industry.
“We wanted them to source the broking fees. Also, the financial adviser has a great deal of access to more passive money, for example, super money and we’re interested in the long-term investors," he said.
“Law firms produce large profits and it’s only fair that mums and dads have some access to that income.”
The chairman of ILH is former federal Treasurer John Dawkins, who became involved with Law Central six years ago.
 
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Re: IAW - Integrated Legal Holdings

They're returning monies and reissuing their prospectus in Feb. Does this make anyone nervous??

m.
 

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Re: IAW - ILH Group

On December 10, 2012, Integrated Legal Holdings Limited changed its name to ILH Group Limited.
 

So_Cynical

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Re: IAW - ILH Group

After watching this stock for over 3 years i decided to take a bite today, there was a biggish seller at 0.095 and no takers so i figured what the hell and took 42000 off his hands, i now own shares in all 3 listed legal stocks.

IAW floated in Mid 2007 at 50 cents and immediately tanked with the rest of the market, shocking timing for the IPO Punters.

Making money with lawyers has worked for me before with SGH and IMF so cant see why it wont be successful again...the half year report was flat and the divided took a big cut, IAW is going down the consolidation road making acquisitions with cash (debt) and shares when good deals present...they have plans to re-brand nationally as Rockwell Oliver and rework the Law central web site.

http://lawcentral.com.au/

A Simple business with a simple plan and an online twist, bought at the bottom support line with the general market at the top of the all Ords range...should prove to be a good place to buy when looking back in 18 or 25 months, CD and Portfolio stock #26.
 
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Re: IAW - ILH Group

I was an IPO investor, and the original purchase has suffered badly, have bought reasonable amounts recently and have a reasonable average price now. Hoping for it to regain its price after some diversification into wealth management. I think at the time the cost of getting into that, deflated their stock price somewhat.
Wait and see how the new business progresses along with the rest of their interests.
 

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Re: ILH - ILH Group

On September 4th, 2014, ILH Group Limited changed its ASX code from IAW to ILH.
 

skc

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Re: ILH - ILH Group

Appointment of Voluntary Administrators - WTF

How the hell does a law firm fall over? i never considered this a risky investment...just goes to show that one never ever knows.

http://www.asx.com.au/asxpdf/20141218/pdf/42vkkcb3rzbpht.pdf

Some chance of getting something back or participating in a re-capitalisation...perhaps.
They are pretty debt-laden... there's not much hard asset in a law firm. Everyone who's left are definitely brushing up on their CVs. I don't think the chance of a recap is very high. Hopefully your holding in SGH more than offset this loss.
 

So_Cynical

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Re: ILH - ILH Group

They are pretty debt-laden... there's not much hard asset in a law firm. Everyone who's left are definitely brushing up on their CVs. I don't think the chance of a recap is very high. Hopefully your holding in SGH more than offset this loss.
SGH has more than offset this loss, still annoying and weird that 1 law firm can give me a 200%+ return while another can be a 100% loss.
 
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Re: ILH - ILH Group

Appointment of Voluntary Administrators - WTF

How the hell does a law firm fall over? i never considered this a risky investment...just goes to show that one never ever knows.
I am astounded that a bunch of lawyers can go broke, especially when it was headed by a former Treasurer for heavens sake. I can now see maybe why Dawkins flew the coop in October.

Adds to the dim view on Lawyers.
:mad:
 
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Re: ILH - ILH Group

I am astounded that a bunch of lawyers can go broke, especially when it was headed by a former Treasurer for heavens sake. I can now see maybe why Dawkins flew the coop in October.

Adds to the dim view on Lawyers.
:mad:
Curious that John Dawkins is appointed director on October 6 2006, then presents the chairman's letter in the prospectus 3 days later, on October 9. In Jun 30 2009 the pay increases caused loss of profits; Dawkins stated that he was not responsible for the original (too low and unrealistic) wages as this was 'before his time'. Presumably, therefore, he found out so much about ILH Group within 3 days that he was able to present the prospectus. Or perhaps he had quite a lot to do with ILH Group prior to this.

Comments from the auditor didn't seem to have made much difference.

See this link for time scale of ILH Group's rise and demise:

https://www.scribd.com/doc/258964445/296-Rockwell-Olivier-Pty-Ltd-and-ILH-Group-Key-Events

ILH Group was part of an extensive network, with some interesting connections. Most curious is the relationship with Rockwell Group Holdings, according to their website set up by the Levine family, but from ASIC documents the original director,secretary and member was Mose Trebish, from the Council of Orthodox Synagogues.

(Adam Jacob Levine, also with the Council of Orthodox Synagogues Australia is with K & L Group, from the Gates family).

Another curious part of this network is the presence not only of Adam Joseph Levine (as well as Adam Jacob Levine), but also the presence of Luigi Adrian Papaleo; his address in Kew in VIctoria is also the given address of Lou Papaleo of LUSAN (USA) LLC.

Link to this extenise network here:

https://www.scribd.com/doc/259...
 

So_Cynical

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Re: ILH - ILH Group

I thought ILH was dead and buried, not so as i received a letter a couple of weeks ago from Benelong capital, they want to recapitalise the company and massively dilute the current shareholders by issuing themselves lots of new shares after a 1 for 19 consolidation.

A little something is better than a large nothing, GM to vote on the proposal this Friday, i voted yes.
 

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On April 26th, 2016, ILH Group Limited (ILH) changed its name and ASX code to Wakenby Limited (WAK).
 
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