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ROE Roeford Prop

2.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Roeford Prop LSE:ROE London Ordinary Share GB00B05R2543 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 2.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.00 GBX

Roeford Properties (ROE) Latest News

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Roeford Properties (ROE) Discussions and Chat

Roeford Properties Forums and Chat

Date Time Title Posts
22/12/201012:02Tiny shell company looking for a deal6
24/11/201011:44final results 182k profit from 982k loss85
01/1/200820:16ROE--MARKET CAP Ј170K!!! WORTH A LOOK.171
11/10/200712:32ROE with Charts & News15
16/7/200715:57Is this the next 10 bagger3

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Roeford Properties (ROE) Top Chat Posts

Top Posts
Posted at 17/12/2010 19:17 by barnetpeter
Roeford Properties plc ("the Company") announces that it was informed that Michael Donovan, non-executive director, has today purchased 500 000 ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") at a price of 2.125 pence each.
Posted at 17/12/2010 09:37 by barnetpeter
Up again for 5 days now. 20% rise and 2p is the price to buy ... not a farthing less.
Posted at 16/12/2010 17:27 by barnetpeter
No interest here - not a post. But the price is moving on some decent buying 600k at 1.75 etc.
Posted at 24/11/2010 15:08 by p@
Taken from the other bb header:


BREAKING NEWS!!!!!!!!!!!!!!!!!!!!!!!! 20/12/07

. LONDON (Thomson Financial) - Roeford Properties PLC said it intends to issue 156.73 mln new shares to Tony Ryan and Maggie Ryan and Corvus Capital Inc at 0.25 pence per share, adding the subscription will raise about 391,833 stg before expenses.
The company also said that executive chairman Robin Assael and executive
director Alison Rankin will resign from the company.
The share subscription will, in part, provide additional funding for the
ongoing working capital requirements and will permit the company to consider and
potentially exploit further property development opportunities.
In September, the company said some of its shareholders have agreed to
provide immediate funding to the company following an internal review of various
business opportunities.
Posted at 24/11/2010 11:45 by barnetpeter
ROE - tiny mkt cap supported by equivalent assets. Property company looking for a deal. New director just appointed. Well up today - deal done?

"The Roeford Board continue to seek potential investment opportunities without
incurring third party costs. With trading conditions showing signs of
improvement, the Company is endeavouring to seek out projects that are
deliverable and capable of achieving a worthwhile level of return.

Only when the above criteria is met will the Board recommend a scheme to the
shareholders. Sufficient cash reserves are in place to support the ongoing
activities and cash funds will be preserved by keeping overheads and expenditure to an absolute minimum".
Posted at 24/11/2010 11:44 by barnetpeter
ROE - tiny mkt cap supported by equivalent assets. Property company looking for a deal. New director just appointed. Well up today - deal done? If so, 5 times the current price. Lousy spread but then no free stock around.

"The Roeford Board continue to seek potential investment opportunities without
incurring third party costs. With trading conditions showing signs of
improvement, the Company is endeavouring to seek out projects that are
deliverable and capable of achieving a worthwhile level of return.

Only when the above criteria is met will the Board recommend a scheme to the
shareholders. Sufficient cash reserves are in place to support the ongoing
activities and cash funds will be preserved by keeping overheads and expenditure to an absolute minimum".
Posted at 24/9/2010 14:20 by double6
Nice buy over the offer price.
Posted at 02/4/2009 08:31 by marketman3
reverse take over deal in the pipeline i think - more coverage in the express today on page 65 - keep seeing decent volume in this and the price will keep rising imo - anyone in below 2.5 sitting in decent profits... nice little play
Posted at 31/3/2009 14:20 by the shuffle man
I hope for our sakes there is a big deal to be done here.

The last accounts showed net assets of £300k but with the share price at current levels the company if i am correct has a mkt cap of £7m
Posted at 20/12/2007 17:13 by chancer6
Roeford Properties Subscription & Board Changes




RNS Number:4391K
Roeford Properties PLC
20 December 2007



Roeford Properties Plc ("Roeford" or the "Company")

20 December 2007

Proposed Subscription of 156,733,334 Ordinary Shares at 0.25p per share, Waiver
of rule 9 of the City Code on Takeovers and Mergers and Changes to Board


Further to the AGM statement announced on 5 June 2007, the Board is pleased to
announce that the Company has today conditionally agreed to issue, in aggregate,
156,733,334 new Ordinary Shares to Tony Ryan and Maggie Ryan (the "Ryans") and
Corvus Capital Inc. at a price per Ordinary Share of 0.25p. The Subscription
will raise approximately £391,833 before expenses and will, in part, provide
additional funding for the ongoing working capital requirements of the Group and
will permit the Company to consider and potentially exploit further property
development opportunities.

The Proposals are conditional on the approval of Shareholders at the EGM, to be
held at 11.00am on 14 January 2008 at Memery Crystal LLP, 44 Southampton
Buildings, London WC2A 1AP, notice of which has been posted to Shareholders.
Following Completion the Ryans will, together, be the beneficial owners of, in
aggregate, 155,000,000 Ordinary Shares, representing 79.54 per cent. of the
Enlarged Share Capital. Independent Shareholders will therefore also be asked to
vote on the Waiver Resolution to approve a waiver by the Panel of any obligation
on the part of the Concert Party to make a general offer to Shareholders under
rule 9 of the City Code arising from the issue to the Concert Party of the
Subscription Shares pursuant to the Subscription Agreement.

Michael Hirschfield, a non-executive director of the Company, is deemed to be
interested in the Subscription by virtue of his directorship in Corvus. Robin
Assael, an executive director, of the Company is deemed to have a conflict of
interest because of a former business relationship with the Ryans. Accordingly,
Michael Hirschfield and Robin Assael have not participated in the Board's
deliberations and recommendations with regard to the Proposals.

Corvus may not vote its Ordinary Shares in favour of Resolution 1 (the Waiver
Resolution) due to its participation in the Subscription and due to Michael
Hirschfield's directorship in Corvus. John Assael, the brother of Robin Assael,
may not vote his Ordinary Shares in favour of Resolution 1 as he is deemed to be
non-independent. They do however intend to vote their Ordinary Shares in favour
of Resolutions 2 (appointment of Maggie Ryan as a director), 3 (appointment of
Mark Grady as director), 4 (authority to allot shares) and 5 (disapplication of
pre-emption rights).

Irrevocable undertakings to vote in favour of the Resolutions have been received
from certain Independent Shareholders in respect of 10,027,251 Existing Ordinary
Shares, representing approximately 22.62 per cent. of the Existing Ordinary
Shares.

Shareholders should note that the Proposals are inter-conditional. It is
expected that Completion will take place and that Admission and trading in the
Subscription Shares will commence on 15 January 2008.



Background to and reasons for the Subscription

Following Completion, the Company intends to grow through a combination of the
acquisition, regeneration, financing and eco-friendly development of real estate
and interests in real estate entities, specialising in commercial and
residential properties and property owning companies in the UK and Europe.

The Ryans have agreed to subscribe approximately £363,333 and Corvus has agreed
to subscribe £28,500 to support this strategy. In addition, Corvus has agreed to
pay the Company a fee of up to £156,500 in respect of property related advisory
services provided to it by the Company and has also entered into the Corvus
Indemnity under which it has agreed to settle all other residual liabilities of
the Company including professional fees relating to the Subscription (excluding
those relating to the Concert Party which the members of the Concert Party will
be paying for personally). As a result, the Subscription proceeds together with
the results of trading since 21 January 2007 are expected to increase net assets
to approximately £363,333.

Alison Rankin, (the "Independent Director") believes that the Subscription
represents the best way to build value in the Company for Shareholders by
removing the Company's existing liabilities and providing the Company with the
additional working capital to enable it to pursue its strategy.

The Independent Director believes that the Company has reached the point that
without further financing it is unable to undertake any material commercial
activity. If Shareholders do not vote in favour of the Proposals, the
Independent Director believes the future prospects for the Company will be
bleak.

The strategy of the Concert Party is to support the strategy of the Company.



The Subscription

Pursuant to the Subscription Agreement, the Ryans and Corvus have agreed
conditionally to subscribe in aggregate for 156,733,334 new Ordinary Shares
(fully paid and ranking equally in all respects with the Existing Ordinary
Shares) having a value of £391,833 in aggregate at 0.25p per share.

The current holdings of the Concert Party and Corvus in the Company and the
number of Subscription Shares to be issued to them on Completion are as follows:



Holder Existing Ordinary Percentage of Subscription Shares Percentage of
Shares Existing Ordinary Enlarged Share
Shares Capital

Concert Party
Tony Ryan 4,833,333 12.67 52,333,334 29.34
Maggie Ryan 4,833,333 12.67 93,000,000 50.20
Mark Grady - - - -
Total 9,666,666 25.34 145,333,334 79.54


Holder Existing Ordinary Percentage of Subscription Shares Percentage of
Shares Existing Ordinary Enlarged Share
Shares Capital

Corvus Capital Inc. 8,600,000 22.55 11,400,000 10.26



On Completion, the Concert Party will own, in aggregate, 155,000,000 Ordinary
Shares, representing 79.54 per cent. of the Enlarged Share Capital, and Corvus
will own, in aggregate, 20,000,000 Ordinary Shares, representing 10.26 per cent.
of the Enlarged Share Capital.

The Subscription Agreement is conditional on the passing of all of the
Resolutions at the EGM necessary to approve the waiver and to authorise the
Company to issue the Subscription Shares.

Application will be made for the Subscription Shares to be admitted to trading
on AIM. Subject to completion of the Subscription, Admission is expected to
take place, and dealings in the Subscription Shares are expected to commence, on
15 January 2008.


Board Changes

With effect from Completion, it is proposed that both Alison Rankin and Robin
Assael will resign from the Board and Michael Hirschfield will remain as a Non-
Executive Director. Upon resigning as directors Alison Rankin and Robin Assael
have indicated that they will remain involved in the property investment
business. An opportunity for a potential future investment in property in Spain
has been made known to them whilst directors of Roeford. The Board of Roeford
and the Ryans have confirmed in writing that the Company has no interest in
pursuing this opportunity itself.

Kitwell Consultants Limited, the Company's secretary, will also resign upon
Completion and Brian William Hunt will be appointed in its place.

At the EGM, various resolutions will be proposed, conditional on obtaining
Shareholders' approval of the Subscription, including, to appoint Maggie Ryan
and Mark Grady (the "Proposed Directors"), to the Board. Further information on
the Proposed Directors is set out below:



Margaret Anne Ryan (aged 44, proposed Executive Director)

Maggie Ryan has over 24 years' experience in the property and development
industry. Maggie spent her first two years in commerce in a managerial position
with a civil engineering company before going on to form Mar City Developments
Limited with Tony Ryan in 1984. Current Directorships include Marplant Limited,
Marplant Hire Limited, Marland Reclamation Limited, Mar Group Limited, Land
Cleaning Limited, Oakford Resources Limited and Margall (Wordsley) Limited.
Maggie will be appointed as an executive director from Admission.


Maggie Ryan holds, or has in the last five years held, the following
directorships and/or partnerships:

Current directorships and/or partnerships Past directorships and/or partnerships

GC Netherton Limited None
Land Cleaning Limited
Mar City Developments Limited
Mar City Limited
Margall (Wordsley) Limited
Mar Group Limited
Mar Land Reclamation Limited
Marplant Hire Limited
Marplant Limited



Mark Grady (aged 47, proposed Executive Director)

Mark has a wide range of manufacturing, service and construction sector
experience from his previous employment in both the public and private sectors.
Mark joined Mar City Developments Limited in 1992 as Group Accountant and was
appointed to the Board of Directors in October 2003. Mark will be appointed as
an executive director from Admission.

Mark Grady holds, or has in the last five years held, the following
directorships and/or partnerships:


Current directorships and/or partnerships Past directorships and/or partnerships

Mar City Developments Limited None
Marplant Hire Limited
Marplant Limited
Meriden Healthcare Limited
South Staffs Group Limited


No further information falls to be disclosed under Schedule Two, paragraph (g)
of the AIM Rules for Companies. Mark Grady does not hold any interests in
ordinary shares in the Company. Maggie Ryan will hold 97,833,333 ordinary shares
in the Company upon Completion.

The Independent Director, who has been so advised by W.H. Ireland, considers
that the waiver of the obligation that the Concert Party might otherwise incur,
as a result of the Subscription, to make a general offer for the whole of the
share capital of the Company, is fair and reasonable and is in the best
interests of the Company and Shareholders as a whole.

The Independent Director, who has been so advised by W.H. Ireland, also
considers the terms of the Subscription are fair and reasonable in so far as the
Shareholders as a whole are concerned and accordingly recommends that
Shareholders vote in favour of all of the Resolutions to be proposed at the EGM.
In giving its advice, W.H. Ireland has taken into account the Independent
Director's commercial assessments.

All definitions in this announcement bear the same meaning as those set out in
the Circular, unless otherwise stated. The Circular has been posted to
Shareholders and is available on the Company's website,
www.roefordproperties.com.



Further enquiries:

Roeford Properties Plc
Mike Hirschfield, Non-Executive Director 0870 950 0995
www.roefordproperties.com

W.H. Ireland Limited 0121 265 6330
Tim Cofman-Nicoresti/Katy Birkin





This information is provided by RNS
The company news service from the London Stock Exchange
END
Roeford Properties share price data is direct from the London Stock Exchange

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