Silverdell Share Discussion Threads

[shackleton1] 31/12/2013 09:34

And the main culprit Sean Nutley continues with his job and a new shareholding. He should be struck-off as a director!

[martincc] 31/12/2013 09:07

Finally an update, very little detail and left to the last possible minute.
Great work by the directors,

'It is not anticipated that shareholders will receive any return for the shares they hold.'

[m1das_touch] 31/12/2013 09:05

Well there's the confirmation, just in case anyone was still left in any doubt: -

It is not anticipated that shareholders will receive any return for the shares they hold.

In accordance with AIM Rule 41, admission of the Group's shares to AIM will be cancelled on 2 January 2014 at which point the Group's shares will have been suspended from trading for 6 months.

No explanation, no apology for destroying a company with excellent potential and prospects, no surprise as it's AIM.

[rovers2] 31/12/2013 09:04

Confirmation of what we all expected, shares worthless. Bunch of crooks.

[someuwin] 31/12/2013 09:03

Silverdell plc

("Silverdell" or the "Group")

Update


Since July 2013 trading conditions in each of the Group's subsidiaries (the "Subsidiaries") have been extremely challenging, having been impacted by the administration of Kitsons, a member of the Group, and the subsequent suspension of the shares of Silverdell plc from trading on AIM. As a result of the challenging trading conditions, the working capital position of the Subsidiaries has deteriorated.

The Group continues to work with Rcapital Partners LLP to investigate a solution for the Group. This may include the sale of certain parts of the Group or a breakup of the Group. It is not anticipated that shareholders will receive any return for the shares they hold.

In accordance with AIM Rule 41, admission of the Group's shares to AIM will be cancelled on 2 January 2014 at which point the Group's shares will have been suspended from trading for 6 months.

[adamb1978] 29/12/2013 20:53

The Sunday Times are incredibly well informed so I would expect an RNS tomorrow. Still expect a massively diluted equity raising at 1p or 2p so that RCapital can get huge upside from any value creation. You would imagine that they bought the debt off HSBC at a meaningful discount to pay so they would already have a decent profit if they could recover the face value of the debt from a break-up

Lets see what tomorrow morning brings...

[hvs] 29/12/2013 16:21

No one gets NAILED not the Directors nor the the AUDITORS.

Thats how the the LEGAL system works u feed me and I feed U.

[garbetklb] 29/12/2013 13:44

I can't work up a lot of sympathy for Sean Nutley - he was at the helm of the company when it ran aground. And he has made no effort to advise shareholders of what's going on.

Yes, he's lost a substantial amount on his shareholding - but was retained to share some of the upside / salvage.

Are we more annoyed that our company/investment appears to have gone bust, or the manner in which it appears to have happened?

I'd be willing to spend a modest amount trying to establish whether shareholders have any redress against anyone - directors/bank/auditors/other. But my guess is that we're unlikely to succeed - however much we'd like to see someone nailed for what we think has gone on.

Garbetklb

[alexkb] 29/12/2013 13:06

Sorry i meant sean nutley.
I take it you didnt trade these in a sipp/isa if you need the tax writeoff?

[bookbroker] 29/12/2013 12:53

Chris who? You sound like you are talking about a different co., and things cannot get any worse than they are already, it's already over for shareholders, just want the capital loss for the record, preferably before the end of the current tax year!

[speedsgh] 20/12/2013 09:39

EDS appear to still be tweeting...

EDS Decom ‏@EDSDecom 14m
EDS provides Specialist Environmental Support Services across the commercial sector.

[davidosh] 19/12/2013 15:34

ShareSoc will be arranging a shareholder meeting in mid January for everyone that is an interested party to be able to attend. Stay tuned for further details.

[pj 1] 12/12/2013 16:50

exactly, must of been totally out of touch as they denied they need one week before.....

[iain123] 12/12/2013 16:45

Why not go to the market and ask for money? I thought the whole idea about being listed is being able to raise funds when required? I massive dilution would have been far more attractive than total loss.

[pj 1] 12/12/2013 14:01

alexkb 12 Dec'13 - 13:34 - 2145 of 2145 0 0

Whats a bit more gaullig for me is that tbis happen with a main market share not an aim listed one. Of all the shares ive an interest in aim ones are most leniant when it comes to reporting. This was supposed to be one of those buy and forget efforts. I expected better. HECK even rob terry from quindell is a far better man than this shower.
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errrrrrrr.....Uh Hum...........

ompany Registration Number:

05755897
Registered Office:

20 Buckingham Street, London, WC2N 6DF
AIM Listing TIDM:

SID

[alexkb] 12/12/2013 13:34

Whats a bit more gaullig for me is that tbis happen with a main market share not an aim listed one. Of all the shares ive an interest in aim ones are most leniant when it comes to reporting. This was supposed to be one of those buy and forget efforts. I expected better. HECK even rob terry from quindell is a far better man than this shower.

[dasv] 12/12/2013 12:40

first against the wall when the revolution comes. in my dreams.

[stevenlondon3] 12/12/2013 09:19

Rcapital has setup a new company. It liquidates Silverdell's subsidaiaries and acquires the assets leaving the liabilities. Nutley is needed because he knows the nuggets and the skeletons.

[waynesoton] 12/12/2013 07:47

Hiya guys the RNS gives you a clue as to why Sean nutley has not resigned as he stands to make significant money with rcapital below is the extract from RNS Sean Nutley will remain on the board together with Condatis Limited, a company wholly owned by Rcapital Partners LLP, which will become a director. Sean Nutley is sharing in the investment risk and returns with Rcapital Partners LLP in order to align their goals moving forward

[boll] 11/12/2013 23:08

I was fortunate to not lose money on these having got out a few months before suspension due to concerns about borrowings and receivables. Subsequent events should be subject to investigation in my opinion particularly the eds director allowed to sell shares in a lock up period and the board in not issuing a profit warning when things were clearly going awry. Eds was certainly transformational

[hvs] 11/12/2013 18:38

Typical CITY bull.