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SID Silverdell

12.75
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Silverdell LSE:SID London Ordinary Share GB00B12XK814 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 12.75 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Silverdell Share Discussion Threads

Showing 2251 to 2271 of 2425 messages
Chat Pages: 97  96  95  94  93  92  91  90  89  88  87  86  Older
DateSubjectAuthorDiscuss
11/12/2013
18:33
Sean Nutley's shares are also worthless

Did he care about the shareholders

hvs
11/12/2013
17:45
Like us, presumably Sean Nutley's shares are also worthless which makes me wonder about his relationship with his new employer?
macc2
11/12/2013
17:03
Interesting to note that Finncap are absent from the credits on the ECS RNS.

I've called Ben Thompson to see if they have resigned/been sacked - unavailable, but due to call me back. Hasn't yet.

Davidosh - have sent you an email at Mellomeet.

Garbetklb

garbetklb
11/12/2013
16:25
I lost a few K too but it was a very small part of my portfolio.I am very angry for the holders losing a lot more than me. Hearing fellow investors losing tens of thousands is sickening. Silverdell have misled us all. I personally couldnt sleep at night if i was Sean Nutley.
Although the majority of us subscribe to a capitalist society, it is becoming ever a more selfish society and Sean nutley was not equipt for this job.Lying to investors to keep his position and share price higher than it should have been before suspension. Even more galling is the fact he has now the chance to invest in the new venture. Sickening, he has took from us all.

The lesson I have learned from all of this is that I now have news alerts set on all my companies and their Subsiduaries. Kitsons was highlighted as in trouble before Silverdell suspension and that should have been the red flag.

luckily this year has been good for equity markets and hopefully we can absorb this loss and learn some kind of lesson form this shambolic episode.

p.

pyemckay
11/12/2013
16:08
I was one of the unlucky ones that helped Andrew McGee get out of his lock in so certainly very unhappy at the way it has unfolded and has cost me a six figure sum so if anyone has any information to share then do contact me.

In the last six months I have left tens of messages for the directors but none ever return the call and whilst they have been in their bunkers everything seems to have collapsed or shareholders never figured in their plans from the outset once the debacle commenced.

If any of you wish to start a shareholder action group then I am sure ShareSoc will support you. (www.sharesoc.org)

davidosh
11/12/2013
15:55
Very transformational acquisition

and they is still collecting their DOSH

hvs
11/12/2013
15:38
They weren't joking when they said EDS was a transformational acquisition - only taken 18 months for them to go bust.
ir35
11/12/2013
15:07
No one will look into it .

They is all feathering their own nest.

Thats the CITY

hvs
11/12/2013
14:54
TIDMSID

RNS Number : 3088V

Silverdell PLC

11 December 2013

Silverdell plc

("Silverdell" or the "Group")

EDS Decommissioning Canada Inc.

Silverdell announces that its Canadian subsidiary, EDS Decommissioning Canada Inc., made a voluntary assignment in bankruptcy pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada) on 10 December 2013. PricewaterhouseCoopers Inc. was appointed as trustee in bankruptcy.

speedsgh
11/12/2013
12:51
From Marwyn - write off:

TIDMMVI

RNS Number : 2042V

Marwyn Value Investors Limited

10 December 2013

10 December 2013

MARWYN VALUE INVESTORS LIMITED

(THE "COMPANY")

STATEMENT REGARDING SILVERDELL PLC

The Company notes the announcement released earlier today by investee company, Silverdell plc ("Silverdell"), providing an up-date following the suspension of its shares from trading on AIM on 2 July 2013 pending clarification of the Silverdell Group's financial position. As stated in the announcement, a turnaround investor is conducting a review to further understand the cash requirements of the remaining Silverdell Group. Given that HSBC has not received the full face value of its debt, we anticipate that the outcome of that review may result in the loss of the entire equity value of Silverdell and accordingly the general partner of Marwyn Value Investors LP has written down the value of our investment in Silverdell to zero. As at 22 November 2013 (being the latest date in respect of which the Company has published a NAV for its ordinary shares), the impact on NAV is a reduction in value of GBP4.3m, equivalent to 6.47p per ordinary share in the Company.

brileyloucan
11/12/2013
11:56
Yes, some majors clients have been lost but a number of very key clients have remained with them on a very guarded basis.They would have been told a lot more than we have but this latest development will not inspire confidence.
Soon they are going to have to announce results and when the full extent of the mismanagement is published what is left of their reputation will be shattered.
Blue chip clients do not support orgainisations managed in such a manner that creditors and shareholders are effectively dumped and the plc board reward themselves with pay rises and bonuses.

17paddy
11/12/2013
11:40
17Paddy 11 Dec'13 - 11:13 - 2122 of 2122
The major clients will quickly lose confidence and it is far too risky to attempt to refloat.

------------------------------------------------------------------------------

I suspect major customers have lost confidence already. I do not think the wall of silence from SID (or the administrator) have helped at all to allay any fears.

pj 1
11/12/2013
11:13
The RNS is not exactly helpful but that is all I expect in terms of Group announcements.If they have not been prepared to make a statement during the past few months it is inlikely that they will do so now when they have been found out.I hope that I havn't misinterpreted the news but I am reading this a little differently to some others, I am not saying that I am right but would welcome comments.
Silverdell have sold the shares in Redhill and RDS for a consideration of £1
The debt of the remaining £10.5m has transferred from HSBC to rcapital.Therefore we, the shareholders still own Silverdelll plc, albeit the shares at this present time are worthless.
I certainly do not expect the share to come back to the market, the reputation is far too tarnished to gain confidence particularly as the key man at the helm who was responsible for the debacle is leading the road to recovery!!!.
The major clients will quickly lose confidence and it is far too risky to attempt to refloat.
Far more likely would be to refinance and reorganise and attempt to sell it off in bits.
It is interesting that rcapital have taken on the loan on the same terms as the bank. Rescuing distressed companies is a very high risk business but brings generous rewards. If rcapital are to make money out of this they have various options, one of which is to offer to purchase our shares at a very heavily discounted rate, say 10% of their previous value. They would then profit from any future sale.If shareholders didnt accept that offer they could refinance in such a manner that our shares would be worth less.
However I do not consider that HMRC will regard this as a tax loss at this present time. It still remains an active share until further action takes place.

17paddy
11/12/2013
08:16
Don't think this state of limbo will continue - less than 4 weeks til the company de-lists. As I said above in the numbers which I posted, I can see this coming back to market after a massive equity subscription by Rcaptial and I think yesterday's announcement is a lead-in to that
adamb1978
11/12/2013
07:46
We all need closure on this, as it stands at the moment, this state of limbo will continue for the foreseeable future, the capital loss is the thing that really bugs me as to when it may be booked against existing gains for the current year, there would be many people who would wish to record these losses for the current tax year.
bookbroker
11/12/2013
07:17
Add £7k to the losses.

In many sectors, Nutley would be struck off never to darken investors doors again. How on earth he keeps his job having taken the business to the wall is astounding.

Thankfully 2014 has, in the round, been a good year for PI's - I hope others on here have had some winners to make up for SID.

GLA

Techno

techno20
11/12/2013
00:26
ouch.
id be having very dark thoughts indeed if my personal portfolio dropped 20-25k, because of "an administrative oversight". Good to see your being a bit more level headed than i would be.

re your point 5: Difficult to know how to extract that information, without closer ties to the company(s). I dont think a FoI request is valid here, and Data protection laws will prevent HSBC from talking to anyone but cetain named individuals at the company.

but there has to be some way to force the directors to give us information to allow us to determine if they have or have not been stiched up. If this information is damning to the board i dont think they will do so voluntarily, which basically leaves whatevers in the articles of association and the various companies act provisions for recourse.

alexkb
10/12/2013
22:49
Firstly, remember that this bulletin board may well be being read by the company.

Secondly, let's wait and see what/if is said in the coming days - there may be surprises (good or bad) to come.

Thirdly, probably worth taking note of what/if Marwyn are doing - once again, it would be extremely helpful if someone is able to talk to them. Marwyn almost certainly know more than private investors and if they have written off their investment and are not going to pursue the matter, it's likely we have minimal chance.

Fourthly, does anyone know of any "interesting" links RCapital have?

Fifthly, I think it would be very worthwhile gathering as much information about HSBC's role in the matter. I may have some facts wrong, but believe they :
- put the Kitson's into administration
- lent the plc funds to buy out of administration
- sold the debt to RCapital

Anyone can message me if they like.

Our family holding is 100,000

garbetklb
10/12/2013
22:27
18k for me - be good to crytalise the loss though, the only good thing in fact.
alter ego
10/12/2013
21:41
Sadly I do not think we can use the word 'fabrication' as they omitted to mention anything at all financially negative. I am sure their defence would be ''we stated nothing incorrectly''

Not people you would choose to do Business with though are they imo?

£3.5k for me

pj 1
10/12/2013
18:45
I have to agree Ive been shafted to the tune of £925 i think. hardly loads of money but this was a completely unexpected, controllable event. wasnt as though there was a natural disaster or something.
alexkb
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