||EPS - Basic
||Market Cap (m)
Resurge Share Discussion Threads
Showing 151 to 170 of 175 messages
You must RUE the day you bought this stock.|
|Check out Rowlands Resurge . lol. basket case. Tell him to get some long trousers and stop playing on his pops reputation|
|after LGB next week I can make an entry here|
|Back from the dead ?|
|Got an invite to AGM to be held shortly anybody know if this old dog is still twitching.???|
|Yes, all sold for virtually nothing. What a bargain these assets are at these prices!|
|Spotted some news on Chesterton, whilst trawling:
|Rowland explains. "We're investors. We never get involved with running businesses because it's not our game."
Stick your dosh in a tracker fund then.
How are they still hyping Jellyworks as a success story? It was sold to Dad and most of the investments it made went bust. Then there was a SFA investigation into the rowland families share dealings. They basically awarded themselves 3 million pounds of shares and flogged them the next day, while all the mug investors were tied down and unable to sell for 12 months. Rowland never turned up for work and the chief executive walked out when he realised that it was a scam company and he wasn't in on it. East end market traders done good.
Rowland junior is now getting divorced and the missus is gunning for not just his wealth but pop's as well, saying that she was responsible for his 'success'. They will let this one rot and die.|
|Update RNS issued:
Skillglas has outstanding borrowings amounting to approx £7m, securted by fixed and floating charge over Resurge, which as a result of the above (Chesterton) now cannot be repaid. Discussions have commenced with the lenders with regards to restructuring these borrowings.|
|Oh dear! Well Chesterton going bust was a bit of a surprise. Their accounts for 2003 were only signed off on 20 December 2004 by Ernst & Young. No mention of going concern issues and down it goes less than 3m afterwards. I bet E&Y are a tad embarassed. The accounts gave no indication that there was a going concern uncertainty hanging over the group. The business looked in better shape than the year before. They must have been hit hard in the residential business by the looks of things! It is difficult to see that any value is left for Resurge shareholders now. Anything left will be salvaged by Rowland Capital.
Strange that the Resurge price dipped sharply a week or two ago - there must have been some rumblings about Chesterton's difficulties at that time.
Big question is whether or not "Daddy" will bail out this company to stop it going bust - suspect if he does there won't be any value left for us. He's probably not best pleased though given that Rowland Capital are not going to get all their money back now.
A sad end, to a promising story in the early days. At the end of the day though the Chesterton deal was one deal too far!|
|Chesterton Call in the receivers:
|Suspended as of 13:00 pending clarification of finances.
Ie Its bust.
|It's certainly an interesting one this one. My reading of the situation:
They owe £7m+ to Rowland Capital, and this is due for repayment, but can't be paid. However, they do have a long term asset...they
own 86% of Chesterton Int Ltd which seems to be trading better now and has just filed accounts at Companies House for the year ended June 2004. It is certainly not going bust by the looks of things and has an unqualified audit report.
Chesterton is worth more than £7m, but with the Phoenix litigation can't easily be sold. It can also not pay dividends at the moment.
So, how do they repay the £7m to Rowland Capital.....will it go private or is a deal on the cards, maybe through conversion of the loans into equity or delaying repayment for equity? Maybe they would have been better not pulling the plug on Phoenix Acquisitions for a technical breach. This is all a bit of a mess!|
|Results are at least a couple of weeks off by the sound of things. I will only buy some more on this with some positive news. Too risky at the moment imo.|
|Cant see no reason for the rise whats going on gents|
|Bouncing back today.|
|that's not updated regularly either!|
|Which is why he only place to get information is to go to their subsidiary's website - Chesterton International:
|Yes their web-site was really good, but they stopped updating it and this is the only page left. Does not fill you with encouragement does it!|
|Is this it !