Share Name Share Symbol Market Type Share ISIN Share Description
Romag Holdings LSE:ROM London Ordinary Share GB0033665729 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 35.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 19.7 1.1 1.5 23.7 17.76

Romag Holdings Share Discussion Threads

Showing 1101 to 1122 of 1125 messages
Chat Pages: 45  44  43  42  41  40  39  38  37  36  35  34  Older
DateSubjectAuthorDiscuss
28/6/2011
06:36
why nothave a 15% stoploss?
honiton
08/6/2011
09:34
Sickening.
r0ss
08/6/2011
08:31
More than a bit, we were robbed in my opinion
cbgb
08/6/2011
08:05
A bit annoying really!! Romag hire staff as demand for solar panels increases by Peter McCusker, The Journal Jun 8 2011 0ShareJUST weeks after being taken over by Sunderland housing group Gentoo solar glass company Romag has recruited new staff. The Consett-based company, bought out of administration by Gentoo in April, has established an additional production line to cope with demand, requiring an extra 20 people. Romag was placed into administration in March after encountering difficult trading conditions, which were compounded by raw material supply and credit issues. Gentoo bought the assets of the business, saving the jobs of its 160 staff and is looking to develop the business further. Phil Murray, newly appointed managing director of Romag, said: "Romag is committed to supplying the highest quality products in order to meet customer requirements, now and in the future. Working alongside our current team, the new staff will be instrumental in helping us to do just that. "With demand for Solar PV (photo-voltaic) on the up, we are also investing in a third production line to further expand capacity and benefit from the fantastic growth opportunities that the renewable energy sector offers moving forward." Romag says it is witnessing increasing demand for its solar PV, security, architectural, and transport glass products and has recruited a mix of manufacturing and support staff. Romag was established in 1943 and has been one of the region's most active companies in the renewable energy sector. Shortly before its demise as an independent business it had begun talks with Gentoo about creating a joint venture business involving the installation of solar panels on the roofs of some of Gentoo's 30,000 properties. Andrew Taylor, deputy chief executive, of Gentoo, said: "Romag has a great reputation in the photo-voltaic field, but is also a traditional glass products maker which fits in well with a residential social landlord such as ourselves."
honiton
30/5/2011
10:50
asparks Yes. Sorry. I have too in other companies. That is why I stick to bluchips and FTSE 250 only (try BKG and SHB). IM HO, DYOR
honiton
11/5/2011
10:37
Powerfilm Solar (PFLM) breaking out!
asparks
09/5/2011
11:39
have I lost my entire investment here?
asparks
05/4/2011
12:54
big time. I think this should be reported to the Serious Fraud Office
asparks
05/4/2011
09:52
Presumably "Ask the Genie " will benefit from F-I-T by putting solar panels into all the houses that they manage . Quite a coup for them ?? !! In my view the deatils behind the "loan" and maybe also what affect Lynn Miles' estate and tax affairs may have had on the decision making all need to be made public . We have clearly been screwed big time .
9degrees
04/4/2011
20:55
Mr Kennair, who owns around 12% of Romag, is understood to have told the board he made the £4m payment in the second half of 2010 to cover bad debts but acted in the "interests of the company". Now the claim is that he told the Board ?? Is that so that the £4m can be paid back or allow him to keep the role as CEO.? All very strange and certainly it looks as if nothing will come back to shareholders. I understand ShareSoc will be investigating issues surrounding the demise of Romag and if any shareholders want assistance in backing a claim against the company it is worth contacting them. All private investors should consider joining ShareSoc as it is free and acts as a common voice for individual investors. www.sharesoc.org
davidosh
04/4/2011
20:36
John Kennair remains as CEO, according to this newspaper report, but he will have lost the £4m that he paid into the company last year unless there was still cash available after the bank had been paid and he was a preferential creditor. If the latter was the case then the FD would have known about the money deposited by Kennair into the company bank account but since the BoD claimed that David Banks had "no knowledge" of this money then he can't have been a preferential creditor so I guess it is a straight write off as far as he is concerned ! Bulletproof glass firm Romag sold to Gentoo A FIRM which makes bulletproof glass and solar panels has been sold after it went into administration in the wake of cashflow and accounting woes. Romag Holdings, which is based in Leadgate, County Durham and supplies security glass to banks, embassies and police stations, was sold to Ask The Genie, a subsidiary of property group Gentoo. The company identified cashflow problems and suspended its shares after an investigation into a £4m payment ex-chairman John Kennair made to one of its divisions without informing the board. When Mr Kennair stepped down as chairman in February, Romag said it was experiencing significant demand for its products, particularly solar panels, and had a strong forward order book. But it was unable to secure further funding from its bank - Lloyds - and its trade and assets, including 160 staff, have been transferred to Ask The Genie. Romag supplies transparent material - glass and plastic - to security, renewable energy, architectural and specialist transport markets. It is one of only two solar panel manufacturers in the UK. Mr Kennair remains chief executive at the company, a position he took up in 1975. He was awarded the MBE for services to the specialised glass industry in 1990. Sunderland-based Gentoo is a construction company, housing developer and the main registered social landlord in Sunderland, managing and maintaining around 30,000 properties. Peter Walls, Gentoo chief executive, said: "We believe the low carbon market will continue to be a strategic area of growth and this puts us in a unique position to take full advantage of opportunities in our sector. "Solar energy is a huge agenda with global governmental targets and it is great to be playing a part in it whilst doing our bit for the planet in the process." Romag appointed KPMG to investigate the payment Mr Kennair made to the company and decided the previous year's results would have to be restated. Mr Kennair, who owns around 12% of Romag, is understood to have told the board he made the £4m payment in the second half of 2010 to cover bad debts but acted in the "interests of the company". http://www.journallive.co.uk/north-east-news/breaking-news/2011/04/04/bulletproof-glass-firm-romag-sold-to-gentoo-72703-28457062/
masurenguy
04/4/2011
19:56
Just learnt about this debacle. What a comic story about £4m being put into the company and the board not knowing about it! Anyway this is a typical "pre-pack administration" (see www.sharesoc.org/Prepacks.pdf for I letter I wrote to the Government last weekend on this subject where shareholders simply get screwed). Of course if anyone cares to look into the background of the new companies that have acquired the assets (and who the directors are), which will cost you all of £2 from the Companies House web site, it might make interesting reading. Are the former management of the company still involved one wonders? Roger Lawson, ShareSoc
roger-lawson
04/4/2011
19:03
as investors we have got to know what has gone wrong . Is this fraud or what ? Sounds like it to me . The chair pumps in money without anyone knowing not even the FD??? This is appalling
9degrees
04/4/2011
18:29
So we'll never know what was in their Report and accounts, then. Sure would like to have seen why this was such a terrible investment.
utterberk
04/4/2011
15:20
http://assets.gentoogroup.com/assets/Downloads/2010%20Gentoo%20Group%20Accounts.pdf
masurenguy
04/4/2011
15:16
Gentoo are formerly Sunderland Housing Association.
honiton
04/4/2011
14:30
surely the market has a right to be informed what ROM was sold for? Strange buyer too
asparks
04/4/2011
13:43
I dont understand how this has happened. Surely the business was not in such a dire position?
asparks
04/4/2011
12:57
Unfortunately this had the air of inevitability about it as soon as the explanation for the suspension was announced in early February. My commiserations to all remaining holders - I really hope that floppyhat also got out before the suspension in January. http://www.advfn.com/cmn/fbb/thread.php3?id=5187631&from=955
masurenguy
04/4/2011
12:52
That's bad. Commiserations to all share holders, PIs get it up the gary again.
neilrr
01/4/2011
15:54
Not necessarily ! We don't know the full financial picture but if Kennair had not surreptiously deposited almost £4m into the company's bank account, and a major bad debt writedown had then taken place, this could have prejudiced refinancing negotiations with LBG. That could have resulted in the company going into administration with a complete loss to existing shareholders. This may still be the outcome ! As a 10% shareholder, Kennairs interests were largely in tandem with other shareholders and it would appear that he acted in what he believed was in everyones best interests. It is not often that you get a suspension due to financial irregularities resulting from a director putting several million of his own money into a company to offset a potential third party bad debt - it is normally the other way around with money being syphoned out of a business ! It must be very frustrating for current shareholders - fortunately I took profits and sold out over a year ago but kept this on my watchlist as a possible future buyback. http://www.advfn.com/cmn/fbb/thread.php3?id=5187631&from=955 All you can do is just wait for the process to be played out. In the meantime, speculation without any tangible information, is rather pointless. :o|
masurenguy
01/4/2011
14:43
If they took the company private again at a significant discount to the market price before the "gift" was given, then the gift would be from shareholders to the Kinnears.
utterberk
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