Silverdell Share Discussion Threads

[waynesoton] 18/10/2013 14:08

I suspect there will be a rights issue as the £8 million to acquire assets was a short term loan and so I suspect they will do a rights issue to do two things 1 clear the short term loan and clear as much debt as possible to give the company a healthier outlook in which to go forward with.Will be interesting to see the end of year results.

[17paddy] 15/10/2013 17:26

Waynesoton. I agree, the appointment of a new but recognised finance director can only be a good move. At least we now have one member of the BOD who has a track record in the role that he has been appointed.
However I expect to have to go backward before progress can be achieved. I have little confidence in other members of the BOD and wouldn't be surprised if, looked at through a fresh pair of eyes there is further bad news still to be announced.
As long as any problems are not gigantic that in itself is not necessarily bad, at least the problems can be understood and tackled albeit that the clock is ticking and a financial package will need to be agreed before the end of the year to allow trading to recommence.
Regrettably this group is quick to announce any good news but is silent when the news is bad and therefore I can only assume that their reluctance to communicate with shareholders is because they have no good news for us.

[scottn93] 14/10/2013 21:56

What makes you think there will need to be a rights issue?

[waynesoton] 14/10/2013 07:40

That will totally depend on the state of the company but will also depend on how much of a rights issue they will need to do in order to survive and service commitments and grow. I also anticipate that if existing shareholders want to see a decent return within the next 2-5 years we will need to participate in the rights issue and hold for a longer term than some may have originally expected too.But I think with the new finance director in place it looks a bit better than with the old one as this new one has a good track record.

[scottn93] 13/10/2013 09:30

If/when an RNS comes lifting the suspension, what are people views on the market reaction ? if the news is good

[speedsgh] 11/10/2013 10:22

Do SID actually exist or were they just part of a bad dream I had?

[stevenlondon3] 11/10/2013 10:01

Marwyn has disposed of its holding in Advanced Computers accompanied by the following comment "ACS is another example of how the Fund's acquisition-led growth strategy and the hands-on operational and advisory support from the Company's Manager have created value for investors". With Marwyn's bolstered bank account I hope that comment applies to Silverdel.

[davr0s] 09/10/2013 19:22

Yes very poor especially how they communicated with PIs earlier this year - next AGM will be a ball! Look on the positive side, the share price can't drop whilst the American politicians are in deadlock

[salpara111] 09/10/2013 11:58

Just noticed this is still suspended, pretty disgraceful!

[yupawiese2010] 07/10/2013 09:38

Further comments over at the Pub.

[hvs] 06/10/2013 22:14

Its ridiculous that there is no statement from the so called Board of Directors.

[hvs] 06/10/2013 22:14

Its ridiculous that there is no statement from the so called Board of Directors.

[pj 1] 06/10/2013 21:28

SID is no longer advertising its Services from SILverdell but now EDS

Obviously damage limitation from Nutley (FOR THE BENEFIT OF WHO?)

Draw your own conclusions......

[pj 1] 06/10/2013 20:39

SID bought 'certain assets' of Kitsons for a maximum of £8m;

Hmmmmm. so why was this allowed to happen rather than also return these funds to Shareholders?

How come the main ''ambassadors'' for this Co were soliciting to PI'S 48 hours before administrators were appointed?

Isn't hat againt the ''Law''?

[0rb1t] 04/10/2013 13:55

Renew Holdings PLC issued a positive update on 1st Oct. So the business climate is still good.

[17paddy] 30/9/2013 21:05

I think tyou will find that Nutley came from Silverdell. Originally he was a roofer and then an asbestos stripper and rose very rapidly to CEO. Very limited management experience and thought to be well out of his depth. The problem isn't helped by there being no experience on the BOD of anybody associated with a specialist contractor. Chairman has experience of the construction industry as a main contractor which is a million miles from this niche market.
Not as pessimistic as some, confident it will resume trading but if the management team failed previously the task is now much greater. The group will need a massive investment in order to survive

[bookbroker] 30/9/2013 19:05

Right now I guess Nutley is the most suitable bloke for putting the co. back on a sure footing, he came from EDS, and it is up to him to ensure that along with PIs, etc. that he does not see his considerable personal holding goes down the 'swannie' with everyone else's money, and actually ensuring the bills are paid on time, a basic requisite of being a responsible and disciplined adult!

[m1das_touch] 30/9/2013 18:43

I'm not in the slightest bit worried bb - one of my golden rules is never to invest or speculate to a level where I'm kept awake at night!

I'm just very disappointed and frustrated at the way things have turned out and at the incompetence that's caused Silverdell's demise. I sometimes make speculative investments or trades, where I'm aware of and fully accept that there's a large risk/reward ratio, but on the basis of information that was in the public domain I didn't consider Silverdell as a high-risk speculative investment.

I'm also disappointed in myself for not taking profits on the way down. Another golden rule that has served me well is never to allow a profitable position to turn into a loss...with this one I took my eye off the ball and allowed some significant paper profits to evaporate.

You may be right that the big boys will underwrite a placing...but if I was an institutional investor I'd be insisting on another head or two rolling before I stumped up any more cash.

[bookbroker] 30/9/2013 12:20

Stop worrying M1das., sure most of us have written off our investments here, but at the end of the day, should and it's a big if, judging by the circumstances and newsflow, one should remain optomistic about the future as nothing more to lose on this one. They will only re-list when the ship has been stabilised, there are bigger investors here who most probably wish the co. come back to the market, and may well be prepared to underwrite a cash raising at some point, what's most interesting is that Nutley is still involved, in many ways that speaks volumes for the cos. survival, neither has he resigned as of yet, or being made to walk the plank!

[m1das_touch] 30/9/2013 11:54

I'm doubtful that they will ever relist - and the longer the suspension lasts, the greater the reputational damage being done, more orders being cancelled, suppliers insisting on upfront payment etc. etc.

In my mind I've written off this investment as a total loss - so if they do relist with any value left, it's just a bonus.

Really disappointed that shareholder value and so much growth potential has been (in all likelihood) destroyed through inept and incompetent management of the company.

I doubt whether private investors will ever really get anything near to the truth of what went wrong here and, as so often, we've been treated with utter contempt.

[alexkb] 30/9/2013 05:50

well thats 3 months passed. im wondering if they will actually relist, if only to save listing fees.

wouldnt feel 1/2 as bad if they were keeping us informed, but their not really are they.

[pj 1] 19/9/2013 12:18

Just for info nothing major

SID used twitter daily to offer Asbestos services. Since the administration that ceased. Today it has re-started under EDS

Just a small change, but out of little acorns Major Oaks grow

[17paddy] 18/9/2013 08:47

Need to check but I thought AIM requires audited accounts within a six month period and if that is correct they could wait until March. However to get the shares trading again I think they will want to make an early statement to provide confidence to the market. That is of course assuming that the result as good as they have suggested.

[pyemckay] 17/9/2013 16:40

i will be happy with 5p to move on here.