Ennstone Share Discussion Threads

[roadwalker] 16/3/2009 20:08

I think Bull_Mega there is a problem with sour grapes here on your behalf. I to have lost a fortune on this Stock but at the end of the day you invest after your own research and if at any time it goes into receivership or winds up then you lose out.

Its the old addage, don't invest unless you are prepared to lose your initial investment.

Of course I am extremely upset by the way this Company has acted especially with its investors and they should be reprimanded for their behaviour but we all know this is not going to happen.

Life goes on and I expect to recoup my losses elsewhere, hopefully----- especially as my other half is up my backside too do so!!!!!!!!!!!!!!!

[bull_mega] 14/3/2009 20:00

Why government is not giving security to investors capital when company's share suspended and company gone in to liquidation,administration or nationalised ????When depositor in banks & building society have been given guaranty ???? We have taken risk and invested in good faith to various industry. In case of total lose of capital on event like above government should give compensation i.e price at the time of suspension or par value of share or last six moths top price. We all must demand compensation form government or company administrators. Government has given billions to banks,government also collecting billions on taxes from the businesses and investors are the key and life line to businesses and must be given compensation .To fight recession one more positive action needed from government,we need to take it our lose seriously and start action. In last sixmonths this is second one i have lost total invested capital and its not excepted.We pay the tax and invest and we should be protected. We must contact all our local MP and others on our lose and go nationally for protest.And demand compensation.

[bull_mega] 12/3/2009 09:51

how about legal action soon against directors and ceo for conspiracy and fraud jury against investor.Its all evident to all of us and market.

[whyme] 12/3/2009 03:04

Sounds to me like a pre-pack
Leaving all parties in a state of flux and holding losses
these things should be looked at as ceditors are investors
as well trying to support their companies and suppliers too
think of their employees too.

[philo124] 11/3/2009 19:02

PAR FOR THE COURSE.

[roadwalker] 11/3/2009 11:29

Bull_Mega, you are so right in your thoughts. Having lost my investment too it ceases to amaze me that one day they have gone and the next resurected under a different name. I am pleased for the employess still having their jobs, but Management and Directors have a lot to answer for who in turn have shafted the investors over a long period of time. In addition they have not had the decency to send out a letter to former investors expaining the current position. Ah well another bad investment under the table.

[bull_mega] 11/3/2009 08:37

What was the value paid by Breedon Holding Ltd ???? If they have taken liabilities of employees why the deal is with out giving any share in new company to existing holders???? If they struck the deal at last minute at what price level deal was ??? Did they put the business for sale at this price level to the market ??? Over the years company has value and that because of investor and share holders and they get financing all this years, this kind of crooks should not be allowed to the stock market and new company should not be allowed in any stage to come to the market to raise funds after all they con the investor by lies and frauds.Kept on saying company has offer and possible sale for months & months share traded under take over code why ????

[philo124] 10/3/2009 19:41

1335, predictable, asset based biz, shame; going to be a lot more of these done deals. They will get a nice eaner in min 3 years time. Why buy the Biz at a fair price when you can get it on the cheap in a cosy deal

[bull_mega] 10/3/2009 15:12

I think its a fraud business and fraud has taken place at big scale, we need to take them all responsible to court, all action taken with out shareholders permit ion or vote , ex chairman taken loan from bank against is shareholdings just weeks ago , shareholders (investor ) has been treated as a scum or sullm dog. We must take them to the court and any proceeding of sale must be share with investor in ratio , its a disaster of democracy and communist country law can not be imposed on investors of enn.We need immediate action and take court injunction of any further move of money or transaction . Is their any one who can take up challenge and take court action strait away. Fraud case in UK court & in European court is required.

[palwing] 10/3/2009 14:24

Appointment of Administrators and sale of UK and Polish subsidiaries

Ennstone announces the sale of the UK and Polish subsidiaries following the appointment of business restructuring partners, Nick Dargan and Matthew Cowlishaw of Deloitte LLP, as Joint Administrators of the Company on 9 March 2009. Accordingly, application has been made today to the UKLA and London Stock Exchange to cancel Ennstone plc's listing on the London Stock Exchange with immediate effect.

The principal UK and Polish subsidiaries are not in administration and have been sold to Breedon Holdings Ltd, a company backed by Barclays Ventures and a number of other financial institutions, for a consideration which is not expected to result in any return to shareholders.

The Group has explored a broad range of strategic options over the past eight months including the possibility of raising new equity and a sale of all or parts of the Group's businesses, including the possibility of an offer to buy the Group's shares. Despite the support of the Group's UK banking syndicate, the deteriorating market conditions have resulted in the Group being unable to achieve a solvent restructuring of Ennstone plc.

The Board of Ennstone plc commented:

'The Group has been facing the most challenging economic conditions for decades which have reduced operational performance. These conditions have also prevented the Group raising the further financing it needed or from realising disposals at prices which could have resolved the Group's financial problems. The sale of the UK and Polish subsidiaries has secured the jobs of over 1000 of the Group's employees.'

Matthew Cowlishaw, Joint Administrator, commented:

'The slowdown in the house building and infrastructure sectors along with the lack of funding for potential acquirers has played a significant role in the Group's difficulties. Securing a going concern sale of the UK and Polish subsidiaries, which will protect over 1000 jobs, is positive news for the employees and the industry as a whole.'

[ed 123] 10/3/2009 10:47

Sorry to hear of people's losses.

Bull Mega, your message is especially poignant for me. I guess we started investing at about the same time, 1986 in my case. Ennstone was at one time my largest holding by value and so I could easily have ended up in a position similar to your own. I remember going to the Johnston vote egm with proxy letters for my nominee holdings and having the letters rejected and being refused admission initially (They knew the vote would be close). After a series of phone calls and exchanges of faxes I was allowed in and voted against the merger. The vote was narrowly carried and I expected to suffer heavy market losses as a consequence. I was very surprised and delighted when the value of the merger slowly began to emerge. It became clear that I had voted the wrong way. Later, however, there was a rights issue. After that, doubts crept in and I sold for a good profit. Looking back I had a lucky escape. I have since posted a few messages here, not to deramp, but to encourage holders to question why they held. I apologise if I came across as antagonistic.

Anyway, it's all ended now. Easy for me to say, but life goes on and other doors will open for those who are currently suffering. Best wishes to all.

[philo124] 10/3/2009 09:54

Sorry to read that. Worse thigs happen ar sea, but that's not much consellation

[bull_mega] 10/3/2009 09:14

End of the world.My personal lose of £200K over 20 years in stock market is coming to the end. I personally need to go bankrupt soon also.Sad end of dream of recovery.

[scrapman] 10/3/2009 08:07

tradings , trading , and the downturns been drastic , but looking back to the rights issue this was fraud IMHO

All gone now , one less to watch

[bodgit] 10/3/2009 07:58

Ah well, thats it then. Bye Bye another chunk of my pension. Buying into these was not one of my best decisions in recent years - and hanging on to them was definitely the worst. Not much point in asking if Directors have to pay back their salaries / bonuses for failure?!

[bull_mega] 03/3/2009 10:45

May be positive news......

[ed 123] 25/2/2009 23:01

Bull Mega.

Care to post a rational argument to support your opinion?

[bull_mega] 25/2/2009 17:19

Ed 123 you are talking rubbish on share holding

[ed 123] 25/2/2009 14:51

Some positive stuff there?

I'm with Brumont on this. Ennstone looks to be a gonner.

From the perspective of anyone who works for the UK or Polish companies, yes it is positive - they're likely to keep their jobs.

From the perspective of anyone who has lent to the Group, yes it is a bit positive. - they'll likely get ownership of the trading companies, but lose on the money they lent to the Group.

From the perspective of anyone who holds shares in the Group, it's just another negative. - shareholders are at the bottom of the payout list and I don't expect them to receive anything. (Happy to be proved wrong if that's how it turns out.)