||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Real-Time news about Cantono (London Stock Exchange): 0 recent articles
|parvez: saffy, huddo
The Noteholders have indicated that in this situation, and where the sum payable to Noteholders is substantially in excess of the cost of contesting the litigation, they may be willing to make an ex gratia payment to Shareholders out of the redemption monies received by them, the quantum and terms of such payment to be at the discretion of the Noteholders.
this was when the share price was over 2.5p so noteholders could snap up very very cheaply here.....I think there is more to come here so be patient..|
|ljsquash: I think the share price is speaking. Ouch!|
|timely3: As ever, ultimately the share price will tell all no matter what you and I think.|
|timely3: I should have finished the sentence by saying the share price wiill be moved up to enable shareholders to exit pre the GM at a price imo around 15p.|
|timely3: I'm surprised the press didn't pick this one up having led the price increase board on Frday. I am waiting to find out what the likely price is going to be for the data centre. IMO it will be well ahead of the current share price, but happy to be shot down if someone knows better?|
|timely3: We are all in a state of shock I expect!
Looking at the position this morning I seem to recall that the data centre is valued at c£15m which would equate to a share price of 50p, (the share price this time last year).
I will therefore be holding onto my shares for the ride as imo this may have a long way to go yet.|
|jonathan_papworth: You guys who read a company by the share price are in a diffent league to me. I read a company by it's business performance. CTNO has no Data Centre, it has a lease on a Data Centre - so committed outgoings. It sold the primary trading part of the business, and is spending money at twice the rate of its income. The shareholders need a change of management - to one that can turn the loss into at least breakeven - then the company has a future. With continuing losses there is no long term value as far as I can see, and consequently the mkt cap is already too high. Delisting was probably just a ploy to hide from the truth - the truth is the business needs to stop burning cash. I wish all shareholders the best, but I believe a better share price will only be achieved with action from you to make the business change, and that change will mean a change at the top.|
another company (rgi) has 2 things in common with ctno
low share price just now and the same rule would apply (75% vote needed for a delisting, to take it private)
encouragingly, they don't have any plans, themselves, to delist (see a reply I got from a director dd March 4 2009)
The board of directors of RGI share your concern at the decline in RGI's share price. /...
In response to your query relating to delisting, absent particular circumstances, cancellation of RGI's admission to trading on AIM requires the consent of at least 75% of its shareholders. RGI is an independent company and therefore cannot comment on the intentions of its shareholders.
|fgump: £9m loss last year, £8.5m this year. Thats why the share price has tanked nothing to do with the lack of liquidity. Now they are running away to fail in private. Poor shareholders.|
|ljsquash: RNS Number : 0871N
10 February 2009
Cantono PLC ('Cantono' or the 'Company')
10 February 2009
Notice of de-listing
The Company announces that a circular was sent to shareholders yesterday to convene a general meeting for 25 February 2009 to seek shareholder approval for the cancellation of admission to trading of the Company's ordinary shares of 1p each ('Ordinary Shares') on the AIM market of the London Stock Exchange ('the Resolution'). Subject to the passing of the Resolution by shareholders, the Company's shares will de-list on 11 March 2009.
Following careful consideration, the directors of the Company ('the Directors') have concluded that it is no longer in the best interests of the Company or its shareholders to maintain the admission to trading on AIM of the Ordinary Shares. The current economic crisis has led to significant falls in the values of the global stock markets, which have been exaggerated in small cap, low liquidity stocks.
It is the opinion of the Directors that in the acute stock market turmoil the Company's current market capitalisation has become completely disassociated from the inherent value of the Company. Whilst there are many factors affecting a company's share price the generally depressed nature of the IT sector has been compounded by the Company's small free float resulting in very low liquidity. This is evidenced by the fact that the Company's share price has declined by almost 96 % between 13 February 2008 and 6 February 2009, being the latest practicable date prior to the date of this document, with an average daily volume of less than 0.13% of the issued Ordinary Shares being traded during that same period.
The Directors also believe that the Company's continued admission:
results in significant direct costs to the Group, which management estimate to be in excess of £200,000 per annum;
results in a disproportionate amount of senior management time being spent in meeting the AIM Rules and related regulatory requirements, including reporting, disclosure and corporate governance requirements; and
may no longer serve a useful function in terms of access to capital or the ability to use the shares of the Company to effect acquisitions.
For the reasons set out above, the Directors consider that the cancellation will promote the success of the Company and is in the best interests of the Company and its shareholders as a whole. Accordingly, the Directors unanimously recommend Shareholders to vote in favour of the Resolution as they have irrevocably undertaken to do so in respect of their own beneficial holdings of 762,561 Ordinary Shares, representing approximately 2.54 per cent. of the entire issued share capital of the Company.|
Cantono share price data is direct from the London Stock Exchange