|well done mryesyes - damn, I should have held onto those shares!|
|I was offered and took £1 a share in Aug 08 by PKL, in this light see my post no 240 of 24 June 2007 while the shares were in delist
The alternative was shares in another delisted company called Bisson but I wasn't chansing my luck beyond that. I got 4X the price at delist and 3X what I paid and the recession had at that time obviously not hit PKL. I was straight to the mailbox and got a cheque for £3757 for a £700 investment that was valued at £900 the day before delist|
|Just checked in on their website and see there's a potential offer being made for the company, though no further details as yet so far as I can see. I'll be interested to see how much north of 29p any offer comes in at. Perhaps PKL will even refloat on the AIM market at some point....|
|It's been a while I know but just out of interest I popped in to PKL's website to see how they have been getting on since they delisted. Surprise, surprise they're doing very nicely thankyou, with none of the doom and gloom that preceded the management buyout.
I'd be interested to hear if anyone has experience of what price the shares have traded at under their "matching" scheme; I suspect it's probably well north of the 29p the directors stole it for, given this glowing update from a few months back. I was seriously considering holding on after they went private and this update suggests that might indeed have been the right move. The fact that even the company's own non-tendering directors stated they thought the price was unfair was a pretty strong indicator that the purchase was a rip-off, but fear of the unknown ultimately dissuaded me. I may play it differently if a similar situation arises in future, though.|
|definate one to inform if you change address one day they may offer you to buy your shares|
|This today from etnow.com
EFM and PKL an Award Winning Team
Logistics management specialists EFM and PKL Food Service took two PFM (Premises & Facilities Management) Awards away at the ceremony this month, recognising their incredible work at the Melbourne Commonwealth Games 2006. This year, marked the 20th anniversary of the PFM Awards, which were held at The Brewery in the City of London.
EFM and PKL Foodservice won a brand new award for 2006 called 'Partners in Sports Facilities Management'. The category was introduced for the first time, in recognition of the importance that excellent facilities management delivery will play in the London Olympic Games in 2012.
The award was given to EFM and PKL for their management of an intricate and time sensitive project the installation of temporary kitchens to serve 20,000 meals per day to athletes and staff at the 2006 Melbourne Commonwealth Games. All the equipment had to be adapted to meet Australian regulations and was shipped in over 50 containers with 200-300 items of catering equipment loaded into each. Both companies worked closely together from the tendering stage through to the final delivery of the project, working to extremely tight deadlines and with highly restrictive site conditions in Melbourne.
The other two finalists for the Partners in Sports Facilities Management award category this year were TNT Sameday with London Marathon and Leisure Connection with Linetum (Uttlesford) Uttlesford Leisure and Uttlesford DC.
The 2006 PFM Awards culminated in the award of the 'Overall PFM Winner 2006', which was also awarded to EFM and PKL.
"It was the biggest surprise to both of us to win this prestigious award for the first time it has been introduced to PFM," said Lisa Ryan, director of EFM, "so to go on to win the overall winner award, with the kind of industry names that we were up against, was the icing on the cake!"
Peter Schad, director of PKL commented: "PKL are working together with EFM again in Qatar at the 2006 Asian Games in December and once again the partnership is enabling us to deliver the kind of top level service that is expected in our industry. We look forward to working on London 2012!"
The Awards recognise the very best in the business of facilities management, with an extremely high standard of entrants from all the leading names in the industry. The entrants were required to demonstrate their leading edge in their field of expertise to a panel of expert judges, with a particularly strong emphasis on partnership between companies. Finalists were shortlisted in each category and each successful company or partnership was visited by the judges for a day of presentation and questions and answers.
Other categories for this year's fiercely contested awards included 'Partners in Sustainability', 'FMA Young Manager of the Year', 'E-business Award', 'Business Innovation Award' and 'Partners in Facilities Management'.
I am guessing that the EFM in this instance is EFM Worldwide, who arrange transport and delivery for entertainment and sporting events: http://www.efm-worldwide.com
|punter - I suggest you read the RNS from 4th September about the tender offer, which you can find on the PKL website. The shares will be harder to sell, but not worthless.|
|I have just been informed that my broker did not tender my shares and they are worthless unless the company will buy them which is unlikely. They are going to contact PKL on my behalf. Any help please?|
|Should anyone wish to contact the company, the details taken from the main website in the header are
+44 (0) 1242 663000
PKL Group (UK) Ltd
GL52 7DQ, UK
To email individual directors see
|punter - there was a tender offer at 29p per share. You should have been informed about this by your broker. If you agreed to sell then you should be getting the money soon. If you missed the message I suggest you contact your broker to clarify the position; sometimes they take a "no answer" as a "yes". Even if you have missed the offer it does not mean you've lost your money, just that you are locked into the shares when the company goes private and may have difficulty selling them as they will not be publicly traded. But who knows, they might well be worth much more in the end. Many on this board feel that 29p per share is bordering on daylight robbery.|
|I am very confused what has happened to these shares is all my money lost.|
|Looks like 'well sorted' in my header should read 'well shafted'
Commiserations to those trapped by the tactics the directors and spouses have used.|
|Agree with your sentiment, Paul ...|
I agree with the sentiment here - the Directors of PKL are basically thieves - they have stolen the business from us.
Personally I didn't have any choice but to tender my 150,000 shares to them at 29p, because they were mainly held on Spread Bets & CFD's, so the providers won't allow the positions to be maintained in an Unlisted company.
So these immoral, thieving Directors of PKL have basically stolen my shares, thus unnecessarily crystalising a huge financial loss for me. So I took all the risk on the way down, because I knew the business was worth more than the market price. Then the Directors steal the upside from me once the shares have bottomed out, thus making it impossible for me to recover any of the losses which THEY caused.
Make a note of these names - the Directors of PKL;
(Non-Exec: Peter Joy)
(Non-Exec: Henry Shouler)
Personally I will not be touching anything they are involved with again with a bargepole. I regard them as cynical con-men for this stitch-up job on us external shareholders.
And a message direct to the Directors of PKL - don't ever come near the Stock Market again, because people have long memories. Oh and I hope you enjoy the money you've effectively nicked off me.
|Do any of these directors sit on the board of any other listed company?
(- asking just in case they play the same trick there..)|
|Sold my shares. I would like to say to those concerned,that if they had put as much effort into runing the company,as they have into thinking up a scheme that effectively forces small shareholders to sell there shares. Then all of us would have been better off,and they would have been able to hold thier heads high and proud.Rather than having to live the rest of there lives,richer. But without honour.|
|if this 'proposition' does go thru' - essentially mopping up residual shares at 29p in order to take control and delist, should this not be flagged up as a "bid situation" ?: i guess not - it is a tender offer which is different ?? i understand (if it applies to anyone else) on here that s/b co's will pay 29p as a closing bet price in due course, if one sits tight and does nowt - ?? certainly better for me than binning it at 26p - the current mkt bid. of course, this assumes it goes thru' and i think we are all agreed it is an outrageous state of affairs. does anyone else on here have an exposure via a s / bet out of interest ?|
|Noticed that ...short covering ??????? or is someone trying to spoil the 29p tender offer ?
Who knows, I surely don't !|
|25,000 odd trade at 29.5p ...wonder what that is all about ?|
|Incidentally, I can't believe they have the cheek to print the following nonsense:
"The Board has formed the view that the market has lost confidence in the Company and that, accordingly, any recovery which may occur in the Company's financial performance is unlikely to be properly reflected in the price at which the Company's shares trade on AIM."
No guys, if the company's financial performance were to recover you can bet your bottom dollar that the share price would shoot up, too. That's how markets work. What they really mean but obviously feel too embarrassed to say is that they want to keep the benefits of a recovering financial performance to themselves and not have to share it with other shareholders.|
|I held from 48 so that's a nice little loss to be booked. Not too upset as I had been toying with the idea of selling anyway after the latest rally had run aground and it's not a large holding. However I firmly believed I would get my money back in the medium term if I decided to hold and I note that the non-tendering directors think the same: "Taking into account the Company's prospects, the Non-tendering Directors do not consider that the price at which the Tender Offer is being made fully reflects the long-term value of the Company's shares." In other words looks like they think it's theft, too, CR. Now I understand why the results were so downbeat and contained so little about how to revive the company's fortunes...
Incidentally, I am a newbie where MBOs are concerned and am wondering whether the option of not taking the cash for the shares but holding on to them when they go private is an option that should be given any kind of consideration. They are clearly trying to put people off that option by mentioning difficulties in selling the shares, no guarantees of dividends etc. (which we didn't have anyway just now, thanks). But on the other hand presumably the owners would want to be paying themselves dividends and believe that they are capable of considerably growing the company's value (which I also think should be possible), and they suggest there will probably be some mechanism for buying and selling shares in future. It's certainly not a sum of money I am likely to be in need of anytime soon so am wondering whether it's worth trying this out as an experiment. Anybody got any views on this...?|
|take the tender imo. If you hold out you might never get rid of your shares. They will more than likely float again at a ludicrous mkt cap far higher than today and under a new name but never guaranteed and you might wait years.
|Those directors already held two thirds of the shares before today. I guess they feel they don't have to do much to get their own way. Even if they have to pay a penny or two more for the final few.
My thread title did make some sort of sense for about 2.5 years..|