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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Silverdell | SID | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 12.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 12.75 | 12.75 |
| Top Posts |
|---|
Posted at 14/2/2015 22:07 by kazoom As promised - here is the report I got from the liquidator. Hardly riveting but hopefully of some interest to some of you.Some pages are blank btw because part of the document was printed double sided and part was not. |
Posted at 01/4/2014 09:20 by alter ego kazoom, you can use the loss in a future tax year (up to 3 I think) but if you have any gains in this year, the loss on SID will be used to offset them before your annual allowance is brought into play. |
Posted at 01/4/2014 09:11 by bookbroker I rang the valuations officer on the number Alter Ego presented here, SID was declared as a negligent value asset on the dates he stated, and as far as they are concerned, it is now registered as a declarable asset of no value so can be used going forward for this tax year, if you apply the CG34 with regard to this co. two months prior to filling out your tax return for Year 13/14 the losses will be recognised by HMRC, if you simply file the return without the the CG34 it will still be recognised pending an enquiry, but as it is on the register from around the 02/01/14 the enquiry will result in that information being present from those dates, thus mitigating any further discrepancy and the HMRC will accept SID as a tax loss, off course there is nothing to stop you recording the loss and just carrying forward to cover against future taxable gains in further years should you wish! If you are still uncertain telephone the number he placed on his post, they are more than helpful, and will confirm what he stated and what I have since learnt. |
Posted at 28/3/2014 16:47 by stegrego Reading the admins report, it seems that EDS killed SID with revenues and losses being much lower and higher than purported.Didn't the EDS boss cash in a shed load of shares and make a fortune by selling what appears to be a lemon to SID...?? |
Posted at 27/3/2014 14:49 by bookbroker Alter Ego - have spoken to said party on the number you stated, many thanks for your considerable assistance as the individual I spoke to was extremely helpful and agreed exactly as you said, dates and the like, what would we do without bulletin boards and helpful people like yourself, big issue has been resolved to the unfortunate SID affair, as you said it is on the register and would be accepted as a N.V.A, many thanks again! |
Posted at 26/3/2014 22:37 by alter ego I have been told by the administrators that shareholders will get nothing. Ialso have had written confirmation from HMRC that SID shares are of negligible value and can be claimed as a loss for CGT purposes. |
Posted at 13/1/2014 15:13 by bookbroker It beggars belief that there are no civil proceedings being issued against certain directors of SID when I read the response of one of the employees of EDS, almost appears that there were even accounting issues prior to the transaction between EDS and SID, clearly the finances were considerably worse than any shareholder may have believed, difficult for Marwyn to be anything other than sanguine about the turn of events, a non-exec director of SID was a senior figure in Marwyn, one would have assumed he was aware of the dire situation prior to the winding-up petition against Kitsons, I can understand why HSBC lost patience with the board of SID! |
Posted at 08/12/2013 20:36 by adamb1978 Interesting. SO they've bought out HSBC loans, presumably will now look for some form or debt for equity swap or get some form or warrants/convertible securities from SID. If they bought the HSBC debt for say 25p in the pound, managed to get some equity on top and were able to keep the company alive, they could make some pretty handsome returns.Means that shareholders would be left with something, albeit a lot, lot less than we had before. Anything would be upside though given that I'm sure that most people marked their SID holding down to zero like I did |
Posted at 04/11/2013 09:17 by kimboy2 I am afraid I don't understand your point. EDS is owned by SID. For an outlay of £8m, (£5m debt and £3m cash), they acquired (amongst other things) £10.3m of trade debtors and £3.1m of stock and work in progress. Unless something goes very wrong this must be a large cash injection into SID, and its subsidiaries over the months following the acquisition. My basic point is that the administrator is showing a £17.5m deficit in Kitsons after the payment for Kitsons by SID. Is there any reason why this isn't a straightforward benefit to SID. Some of that benefit is in the form of a cash benefit and some in the form of reduced debt. The effect on business is still to be determined but the fact that most of the business is in the form of long term contracts should help to mitigate the damage. I am just wondering what anyone else thinks of that argument, or whether I am talking rubbish. |
Posted at 11/6/2013 14:12 by rivaldo Further notes I made from the meeting in no particular order (excuse any errors):- SID are now regularly speaking to Babcok and Costain re their projects (the CEO is meeting Costain this week re nuclear work) - the EDS acquisition has been "much better than anticipated" - SID are "most comfortable" with Finncap's numbers, i.e 2.1p EPS this year - SID are "adequately financed" for 15% growth, and are operating well within resources at present - SID are seasonally biased to H2 due to the long Xmas break - the Magnox project was originally budgeted at £2m per annum for 10 years, but has now been revised to £5m per annum - there's scope for further synergies re EDS, with the UK business being restructured into just one entity - the total projects/workload SID are aware of is approaching £750m, with: (a) £239m order book (b) £300m+ of pipeline opportunities (c) £200m+ of projects "on the radar" - overall "win rate" is 25% of projects tendered, but for contracts worth £10m+ and for overseas work the win rate rises to 50% - the CEO has recently been to Dubai, Singapore and Malaysia and SID now have the likes of Shell, Total and Exxon as clients and more leads to Chevron etc via their work at Exxon's Adelaide facility, the first ever Aussie refinery to be decommissioned - re the Hydro-Quebec contract win, SID are currently aware of another 20 similar opportunities available globally, and more will of course present themselves over time |
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