Park Row Grp. Share Discussion Threads

[humbagash] 13/3/2008 12:00

Just received a letter from Capita Registrars reminding me that I have not claimed my entitlement to Royal Liver(IFA Holdings)Plc's generous offer. This after Park Row Group shares were compulsorily acquired.

[sheds] 22/9/2004 16:17

Never heard anything. Catchin' up now having given up on this pile of cr*p!! Still have a certificate which is I believe a legal contract of participation. So what the hell do I do with it? (Dont answer that!!). RIP - it was a nice thought. Wonder if FSA read these things, wonder what it will take to wake them up!!

[neil harvey] 03/11/2003 16:44

meperry,

I've not heard anything. Still got my certificate. Not that it's worth much.

[humbagash] 30/10/2003 11:42

I have not heard anything either but then again I didn't expect to hear anything until some results are announced. When that happens I believe they are obliged to inform us.

[meperry] 26/10/2003 21:34

i have not sold yet or heard anything anybody else in the same boat

[bealey] 18/8/2003 16:11

Payment for my shares went into my nominee account today..R.I.P PWP

[neil harvey] 14/8/2003 23:29

Sorry Top Don't know what they are.

in my opinion once again the investor has been screwed whilst the directors make a nice little pile.

I have done nothing either.

[top loser] 04/8/2003 09:26

So instead of 80p each they're offering 56p each now ??
or
9p and some loan notes.
Can anybody expalin what the guaranteed load notes plus earn-outloan notes are ?
I want to make life as expensive and as difficult for these barstewards as possible.

[humbagash] 01/8/2003 18:17

The letter is to confirm that we have lost out and that we are obliged to let go of our shares.
The only recourse it seems is to apply to the court to prevent the compulsary buyout of our holdings; which hardly seems worth it. At least it cost them a few bob to send all the letters out recorded delivery.
Once again the British small holder has been shafted under the blindfolded eyes of the FSA. My last one was LGD-another barrel of slimey toads(that came after MONI)
You'd think I'd have learnt.
Oh well.
Cheers
Keith

[top loser] 01/8/2003 09:35

Received letter this morning recorded delivery. They really seem to need our vote(s). Sod them, that's what I say.

[meperry] 17/7/2003 19:47

me to will fill in X against on all mine and wifes and daughter, plus letter telling how we all feel that the directors have ripped us all off for there own gains. still they might not have full 90% they might hope we will cave in?

[humbagash] 17/7/2003 11:18

I have this morning received the "Report and Financial Statements" of Park Row Group for the period ended 31st December 2002.
In the attached letter they claim to now have over 90% of acceptances for the offer and intend to exercise the compulsory aquisition of the rest of the shares outstanding.
I guess that under the terms of the Companies Act 1985 (as ammended) Section 429, we have no option but to succumb and receive our pittance from the share of the directors 40 pieces of silver.
See you all in Dover sitting around the bottom of the tree (perhaps in the same hostel ;o)

Regards to all,
Keith

[regalrealm114] 13/7/2003 07:44

Still holding heard nothing for ages, spoke with some friends and they are going to hold out till we reach Dover.

[stocktrader] 11/7/2003 00:40

I'm not caving in either. I'd rather use the cert for toilet paper.

[bealey] 11/7/2003 00:26

I got a letter from PWC today 10 th July saying.. "As at 25 June valid acceptances hed been received for only 89% of such shares and without action by a significant number of shareholders, the acceptance level will not reach 90%"

[bealey] 10/7/2003 14:31

Stocktrader ..I would not do that If I were you something nasty may rub off it!!!

[snakeplisskin] 14/6/2003 13:41

Hi all,

Yet another letter from my broker arrived this morning asking me to cave in. The language has got a little bit stronger now, stating;

"The Park Row shares were de-listed from the Alternative Investment Market of the London Stock Exchange on 22nd May 2003. If Newco does not receive acceptances in respect of 90% of the park row shares by 23 July 2003, the offer will be closed. If this happens and you do not accept the offer, you will hold shares in an unlisted company and your ability to realise any cash for your park row shares will be restricted."

I'm still holding out though :-)

Can anyone offer me any advice on a related question please. I am currently a shareholder in another company listed on AIM. The main shareholder holds about 83% of the current stock and the company are in the process of doing an open offer which is underwritten by the main shareholder thus meaning they will pick up more shares. The company's finance director is telling me that there is no 'magical number' of shares that the main shareholder requires to be able to compulsory buy-out the other shareholders. However the Park Row episode shows me that 90% is a required number of shares to be held by one organisation inorder to buy out the other shareholders.

Is the finance director telling me porkies or the truth?

Help appreciated.

Many Thanks,
Danny Boy.

[regalrealm114] 12/6/2003 11:50

Tenerife
Would that be PWC?
I have tried to phone Greame Johnston & Gerry Young At PWC and got answer phones, left messages they have not phoned me back.
Checking back through the RNS Message I noticed that the offer was made at 10.34am on 17/3/2003 and the directors had agreed on the deal by 7.06 am 18/3/2003.
It seems to me that they filled their pockets with the gold and jumped over board with out a second thought to the small guys.
If you still have and can be bothered to read the glossy Birchin international financial statements for Sept 2001 page 36 read the bit about on the 20 February 2001, (seems Mr DC Gardner got caught trying to squeeze more of our cash into his already bulging pockets,
Was he hopping we would get bored of reading and put it in the bin before we got to page 36 paragragph 21.
This subject is also mentioned on page 86 paragraph 23.of the Pricewaterhose/Royal Liver recommended offer document well worth a read.
Also in finical statement 2001 document page 5 Chairman’s Statement (was he trying to say hopefully we wont lose to much money).
Mr C Gardner resigned in August 2002.” Pockets now full”

The End

PS if you don’t still have the above reports I would be happy to post the extracts at your request.

Still holding out all the best
E.

[tenerife] 11/6/2003 17:29

they`re phoning me now!!.