|It would appear that this is now trading as The Malcolm Group with the EPIC of MAL.
I dont know how to set up a new discussion board, but I'm sure someone out there will oblige.
Thanks in anticipation.|
jon skint smith
|EGM result and price for buyback....
18 January 2002
Friday 18 January 2002
Grampian Holdings p.l.c.
(To be renamed The Malcolm Group p.l.c.)
Extraordinary General Meeting - Approval of resolutions
'The Board of Grampian Holdings plc announces that shareholders voted at
today's EGM in favour of the resolutions approving the proposed return of
capital to shareholders, subject to Court confirmation, and the change of name
of the Company to The Malcolm Group p.l.c.
The Board has fixed the price for the cancellation of the ordinary shares at
85.0p per share, representing a premium of 8.3% over the middle market price
at the close of business yesterday. The Board will now proceed with an
application to the High Court for sanction of a reduction in capital as
described in the circular to shareholders dated 21 December 2001.
Forms of election should be sent out to shareholders on 22 January 2002 and it
is anticipated that the Court hearing will take place on 20 February 2002.'|
Grampian Hldgs PLC
18 January 2002
Friday 18 January 2002
Grampian Holdings p.l.c.
Extraordinary General Meeting - Trading Update
Speaking at today's EGM to approve the proposed return of capital to
shareholders and change of name, Sir Donald MacKay, Chairman of Grampian
Holdings p.l.c. made the following statement on current trading:
Despite the slow-down in the economy, and in an increasingly competitive
market, the Logistics Division is performing in line with our expectations.
Development opportunities in the core warehousing and road distribution
operations continue to arise from a combination of organic growth, customer
outsourcing and contract re-tendering.
We have continued to develop our rail freight operations although these still
represent only a small proportion of the Group's overall turnover.
Uncertainty surrounding the future of the rail industry, including the
administration of Railtrack, however, has adversely impacted confidence levels
in the rail network. Recovery of this confidence will be key to realising the
full benefits of the Group's substantial recent investment in rail freight
The Construction Services Division has encountered some volatility in activity
levels. Project commencement dates were temporarily delayed during the last
quarter of 2001, resulting in a fall in operating levels for plant/tipper hire
and contract activity. Accordingly, turnover levels for the full year are
likely to be somewhat lower than last year. More encouragingly, the Division
has continued to deliver improved operating margins and the start of 2002 has
seen a pick-up in orders and strengthening of the order book.
Overall, the Group is performing satisfactorily given the difficult conditions
facing many of our customers. We are continuing to make progress in improving
the quality of the Group's earnings by focusing on better operating margins
and containing costs."|
|What is the starting time of todays EGM and when will there be an announcement regarding the share buyback details if that is approved?|
|'N' Non Protected Portfolio
A non-protected portfolio transaction or a fully disclosed portfolio transaction. Normally a transaction of a number of stocks dealt with by one market maker at an agreed discount to the market price.
So looks to be a buy.|
|One of the trades today is marked "N", can anyone please explain this type of trade.
|Can anyone summarise details of the buyback proposals?|
|The 80-90 offer does look low, however they do state that they will pay a premium to the market price.
So hopefully at the time of the EGM the price will be 86-90, forcing them to offer 92p.
Will they purchase all my holding or just a percentage? as shown in there example.
By way of illustration only, the following table demonstrates what the effect
of the Basic Proposal will be, at different Cancellation Prices, for a holder
of 1,000 Ordinary Shares:
Cancellation Ordinary Shares cancelled Cash Ordinary Shares
Price received retained
80p 483 #386.40 517
85p 454 #385.90 546
90p 429 #386.10 571
Anyone have an idea what the value of our remaining shares, would be.|
|I agree with you CWA1. The cashack figure is set too low. It is really just in the current trading range. Last prices today bid 82p offer 87p. I also think we are still looking some time ahead. By the time a court hearing has been set, the wait could be ages. However I think the figures qouted on the rns are for illustrative purposes only, so the offer could indeed be higher when the time comes.
|Think the cashback figure is set too low.
I will be going for underallocation if that(90p) is the best offer they can make.
Think it is worth significantly more and will consider topping up if there is any slippage in share price at all.
Thoughts of the board on the buyback figure?|
|for yr to 01/03, profit say 10m, 60m shares approx, gives eps around 16|
No, the RNS says it will probably be treated as a partial disposal - hence CGT if in profit.|
|Will this cashback be treated as income?|
|Looking very,very promising.Might be a good idea to top up with a few more even now.This price will look silly in the not to distant future,I think.
It has been a long time in coming but I hope it's going to be worth the wait.
Happy Christmas all!|
|Yes still holding prm. Are you?
There has been an announcement re: Property Disposal link below. There will be a further announcement later today.
I can confirm that the property deal is fine, had this e mail responce last week to that question.
"Yes sorry the property deal has not collapsed but post sept 11 delays have set in (not ours) it is still our intention to get a circular out just as fast as we can."
Jacsom, You still holding PRM also?|
Yes,it is very frustrating isn't it?
However I feel that,assuming the property deal doesn't collapse,there is still a very healthy return to be made here.I think that after waiting all this time it is probably close to being the worst time to sell out now.
I have been told by someone who works there that the Malcolm side-haulage,freight,distribution etc.,is still busy and has had no sign of a downturn,which is very encouraging.
The fact that most of us are sitting on a profit,albeit small,is significantly better than a lot of people in the market at the moment.Nice dividends as well.It could always be better I agree :-)
Off to tear some more hair out waiting for an announcement....|
|Thanks 8 ball. That is probably wise advice. I will take it and hang on in there a bit longer. After all we have waited this long I shall give it a few more weeks.
As you know from iii I am also fed up and e mailed them several times.
I could sell and make a small profit, all from the last two dividends.
However let's just wait a little longer, still feel we could make another 15% on our investments.|
|I am getting a bit fed up with the waiting and I am very tempted to take my miniscule profit on grmp and put it somewhere it has a chance of earning a bit more.
|Both articles said there would be an announcement this week. Both articles turned out to be wrong. How long can the board put of returning this moeny to investors? Surely we should have had some comment since September?|
|Also in The Herald....
Piece in The Sunday Telegraph today suggests that we're on the way at long last.