Premier Direct Share Discussion Threads

[brut winky] 15/11/2020 21:12

STRONG SELL

[m.t.glass] 24/6/2008 13:50

LONDON (Thomson Financial) - Premier Direct Group Plc. said KBC Peel Hunt
Ltd has resigned as its nominated adviser effective June 16.
It is unlikely another nominated adviser will be appointed and, unless this
occurs, AIM cancellation is likely to take place on July 17, the
shopping-at-work provider said in a statement.
On June 16, Premier Direct, whose shares were suspended on AIM in May
pending clarification of its financial position, said it appointed Simon Wilson
and Scott Gaillie of Kroll joint administrators of the company.

[topvest] 17/6/2008 21:42

oh dear. Must admit that I am surprised. This is a real shame as the business is viable imho. Another victim of credit crunch! Oh well, at least we will get a tax loss!

[ebeing] 17/6/2008 14:12

This company is now under Administration. It didn't survive the recent Share suspension as was hoped for.

No value will be realised for Shareholders.

[morwood] 09/6/2008 21:33

Two weeks on Wed since Eric sent that e-mail. update must be due soon....

[tomgiles] 28/5/2008 07:36

Eric McClenaghan to me
show details 7:31 am (1 minute ago)

Our brokers and the Aim team are being kept up to date with developments here.



We are unable to respond to any shareholders individually at this stage.



I would expect to have some news within the next two weeks.



Regards



Eric







Eric McClenaghan

Chief Executive

Premier Direct Group Plc

Tel No: 0191 497 4100

Fax No: 0191 497 4150






--------------------------------------------------------------------------------

From:
Sent: 27 May 2008 20:14
To: Eric McClenaghan
Subject: Suspension of Comapany Shares

- Hide quoted text -


Eric,



I am unfortunate to have shares in this company which I am now holding at a very substantial loss.I have backed the directors previously as the company should be very successful in a growing market but I am now concerned at the suspension of the shares for over 2 weeks and the appointment of what appears to be a liquidator to the already large Board (another on the already huge wage bill),not to mention the need for yet more cash.



When will company be able to update shareholders and are you confident of the future for the Company?



Regards

[tomgiles] 18/5/2008 13:16

Rankins own the building these coiwboys rent, 600k a year,nice earner

[angel of the north] 18/5/2008 10:43

Morwood - Alan Rankin offloaded a great deal of shares prior and after Barry's departure. I can say with some confidence that Barry would NEVER return here!
However I still think an MBO is on the cards - the shares may list back as low as 5p or less and I think that could be a catalyst.

[moob] 17/5/2008 11:19

wonder if sticky fingers?

[morwood] 17/5/2008 11:09

I can see the Rankins putting money into this to take it private! Maybe bring back Barry Moat to run it?

[moob] 16/5/2008 22:17

wonder if the rankins got nailed on this one

[tomgiles] 14/5/2008 12:03

seems to be taking a while to convince bankers for more cash..

hope these idiots do not try an MBO as they got co into this in first place.

I had a quick look at the figures over the weekend, and the thing looks
like a total disaster - management seem to have got almost everything wrong
that they could have done over the past few years.
I suspect that normal valuation rules don't work here - it would boil down
to pure negotiation in picking up the pieces - I suppose that much would
depend on the salvage value of the stock, over which one would be extremely
sceptical, given the history of the company.

[topvest] 12/5/2008 20:59

Thanks - helpful. I think you will find that the very small cap AIM companies never quite make it onto this list, but useful all the same.

[fillipe] 12/5/2008 08:48

topvest - thanks for the info. Must say I've not had any probs with neg value claims on AIM stocks in the past although it does seem to take time rather than effort. Here's a link to the HMRC list of declareds - apologies if you're already up to speed with this site.



Thankfully I don't get too many of these claims but I've got an AIM biggy on the go at the present. I'll revert when I know the outcome.

In any case, thanks for the info on the Companies House web-site.

f

[tomgiles] 12/5/2008 08:42

guys from the 2007 accounts debt is not too bad and cash needed for stock to sell so what are probs with banks,how much cash do they need?They may have to pay more than the current 2% over base to banks but nothing too bad so why the suspension???
business model is simple and confused by why so many staff at company,couls easily ahlf the number of staff (not agents !) and why CEO pays himself so much?..

any thoughts welcome...

[topvest] 10/5/2008 14:18

fillipe - thanks for the comments. From my experience over the last five years or so, AIM companies are seldom put on the negligible value list, even if a total loss is plainly evident. This certainly doesn't qualify for a loss yet. If it does go bust (looks like it, but I hope not) then best way to get the tax loss is to go onto the Companies House web-site, obtain the receivership documentation proving nil or negligible value (costs a £1 or so) and claim negligible value anyway. The IR rules on negligible don't normally apply to AIM companies which just get forgotten about as they are treated as non-quoted.

[fillipe] 10/5/2008 12:25

topvest. If it eventually it becomes considered of negligible value by HMRC you should still be able to set the loss against income of a prior year, if you have a 40% tax rate prior year then you'll do better than 18%. I don't think you can just put it as a loss against current gains because whilst it's suspended one can't actually make a taxable disposal.

I'm no expert, but I've had a few of these situations in the past. However as always, dyor. Regards.

f

[tomgiles] 10/5/2008 11:38

guys what is debt and what are probs with banks,how much cash do they need?
business model is simple and confused by why so many staff at company..

any thoughts welcome...

[topvest] 08/5/2008 19:06

All very sad. I'm really surprised this has happened so quickly after the directors put in half a million and after a positive trading statement. Obviously,things weren't quite as rosy as we were led to believe with the interims. At the end of the day this business is capable of being turned around and paying off its existing debt and so it will be a real shame if it is allowed to go under. That is credit crunch for you I guess!

The only upside for me if it goes bump is a capital loss which is always worth 40p in the £!...sorry 18p in the £ now!