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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Silverjet | SIL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 13.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 13.50 | 13.50 |
| Top Posts |
|---|
Posted at 06/7/2008 22:49 by le couteau tombant Sorry per this Soros Fund Management LLC now down to only 3.20%, overhang cleared?ownership Shareholders Holders Value ($MM) % O/S Shares Institution 131 853.54 109.5 64,542,153 Mutual Fund 146 390.05 47.5 28,017,129 Insider * 22 22.96 8.2 4,842,950 *Insider values reflect direct beneficial ownership. Concentration Value ($MM) % O/S Shares Top 10 Inst. 676.14 84.7 49,927,621 Top 20 Inst. 799.02 101.9 60,065,994 Top 50 Inst. 841.69 107.9 63,565,360 Total Inst. 853.54 109.5 64,542,153 Style Holders Value ($MM) % Inst Shares Shares Value 21 363.00 46.0 30 Core Value 18 332.09 42.0 27 Deep Value 3 30.91 4.0 3 Other 44 201.68 25.3 17 GARP 21 160.13 20.0 13 Hedge Fund 10 25.90 3.3 2 Specialty 2 9.36 1.2 1 Broker Dealer 11 6.29 0.8 1 Sector Specific 0 .00 0.0 0 Index 13 60.18 7.7 5 Income 6 3.14 0.4 0 Income Value 5 3.09 0.4 0 Yield 1 .05 0.0 0 Growth 23 56.65 7.3 5 Core Growth 19 42.54 5.6 4 Growth 4 14.11 1.8 1 Aggressive Growth 0 .00 0.0 0 Top Holders Shares Held % O/S Filing Date Tradewinds Global Investors LLC 16,087,001 27.3 03/31/2008 Batista (Eike F) 7,958,867 13.5 05/16/2007 Wells Capital Management Inc. 7,040,802 12.0 03/31/2008 Moore Capital Management Inc. 5,734,266 9.7 04/17/2008 Stavanger Fondsforvaltning A/S 2,951,811 5.0 02/11/2008 Norges Bank 2,928,116 5.0 08/31/2007 Barclays Global Investors N.A. 1,902,342 3.2 03/31/2008 Soros Fund Management L.L.C. 1,860,782 3.2 03/31/2008 Van Eck Associates Corporation 1,807,534 3.1 03/31/2008 Tocqueville Asset Management LP 1,656,100 2.8 03/31/2008 Ownership data based on most recent publicly available data according to Thomson Financial. |
Posted at 14/6/2008 10:41 by m.t.glass Silverjet staff made redundant as rescue fails By Alistair Osborne, Business Editor The Telegraph Last Updated: 11:25pm BST 13/06/2008 Silverjet's 300 staff have been made redundant after a failed attempt by a group of secretive individuals to rescue the business class-only airline. Administrator Begbies Traynor admitted yesterday that a deal agreed on Tuesday with Kingplace, an Irish-registered company, had fallen through. Kingplace failed to come up with the fresh finance to save the airline, which leased three aircraft and flew from Luton to New York and Dubai. It is believed that industry regulator, the Civil Aviation Authority, wanted a cash injection of at least £30m to satisfy its capital adequacy rules before allowing Silverjet to relaunch. All talks with the CAA have now ceased. Joint administrator Mark Fry said: "We understand that, as a result of the unusually complex negotiations with third parties, Kingplace is no longer in a position to acquire Silverjet as a going concern. As a consequence, we have today had to make the entire workforce formally redundant." Kingplace described itself as a company managed by Heritage Cie, a Geneva trust and management group. It was fronted by Ian Ilsley, chairman of Heritage and the Plus Markets-listed Sandhaven Resources. Kingplace made its offer on behalf of undisclosed private clients. Earlier in the week Mr Ilsley was working alongside Lawrence Hunt, the founder and chief executive of the Aim-listed airline, which began services on January 25 last year. Silverjet suspended its shares on May 23 after another potential investor, Abu Dhabi's Viceroy Holdings, failed to come up with promised cash. The carrier went into administration a week later, with debts of £40m, and grounded its aircraft. Some £17m owed to creditors is secured against the aircraft, while £10m is due to property investors Simon and David Reuben. Shareholders have lost everything, while creditors are unlikely to receive more than a few pence in the pound. Mr Fry said: "We continue to negotiate the sale of Silverjet's assets for the benefit of the company's creditors and will provide an update as soon as we can." Silverjet's brand, the fit-out of the aircraft and its facilities at Luton could conceivably attract a purchaser. Despite the rocketing oil price, Mr Hunt previously blamed the collapse of the airline on bearish comments from City analysts, claiming they became "self-fulfilling". Yesterday, Mike Stoddart, an analyst at Daniel Stewart, said it he was forecasting "a loss of £30m in the year to March 2008. I think they would have needed at least £20m-£30m to have relaunched," he said. Mr Ilsley declined to comment. Mr Hunt did not return calls |
Posted at 07/6/2008 09:18 by weemonkey it won't happen.with oil where it is this is a money pit. the risk reward ratios for any head screwed on investor does not stack up. tickets too cheap, not enough passengers, luton is still luton (not handy for london and horrid dump). fuel costs too high. business now badly tarnished by recent events. Goodwill (business variety) badly damaged. glossy sleek marketing now looks silly "we are canny luxury" now tranlated to "we are silly bust". bad associations for the potential investor bad associations for the business travellor . it is over |
Posted at 07/6/2008 01:23 by m.t.glass Reuben brothers plan to swoop for Silverjet By Richard Fletcher and Alistair Osborne The Telegraph Last Updated: 11:56pm BST 06/06/2008 David and Simon Reuben are said to be plotting a last-minute bid for Silverjet, the business-class-only airline that collapsed into administration last week. The billionaire property developers - who are worth an estimated £4.3bn - are understood to be the failed airline's largest creditor. The brothers, who invested in the airline in November 2007, are owed an estimated £10m. In total, Silverjet owes creditors £40m, of which £17m is secured against three aircraft. Shareholders in the Aim-listed company are expected to get nothing - angering small investors. A number have questioned statements made to the Stock Exchange last month when the airline appeared confident of securing fresh investment from an Abu Dhabi investor, Viceroy Holdings. More on transport Silverjet which operated three aircraft flying from London Luton to New York and Dubai, grounded its fleet a week ago. However Begbies Traynor, the company's administrator, is nevertheless hopeful of selling the business as a going concern. It is unclear if a successful bid would secure jobs for Silverjet's 300 staff. Other bidders for Silverjet are Kingplace - a shelf company registered in Ireland and managed by Heritage Cie, a Geneva trust and management company - and an unnamed airline. Mark Fry, joint-administrator, said he was aware of an expression of interest from the Reuben brothers but added: "We are not in any formal negotiations." |
Posted at 01/6/2008 10:24 by drewz "on the other hand if they had been given the additional finance the upside potential was massive imo."That last sentence demonstrates, imho, that you never properly understood the nature of the investment you had jumped into. SIL would always have been struggling to stay in business, even if the price of oil had come back down to $85/barrel. The high oil price just accelerated its demise. It's costs were too high. Its pricing too low. Its interline options non-existent. Its versatility to cope in different stages of the economic cycle completely absent. A professional financial analyst, Mike Stoddart of brokerage Daniel Stewart, spent months studying it and came to the conclusion the business model was not sufficiently robust for SIL to survive high oil prices. Yet he was ridiculed by amateur investors who had taken a punt on SIL without understanding any of the issues of airline economics. There's a lesson in that for those that can be bothered to learn it. |
Posted at 01/6/2008 09:39 by stluke M.T.Glass, what exactly do you think i have not been honest about? i have never denied thinking that they had a fantastic product, look at the increase in pax numbers inparticular over the past six months, look at any independent travel review websites, people who used the service loved it from start to finish.I knew full well they would burn through cash at the early stages while they built the business up to a level where they would breakeven, the trouble is ever time they almost got to that stage the price of oil had gone up another $10 that month and this went on for 6 months in a row. I was still positive up to the end because i was under the impression they had secured the finance, i said on more than one occassion without the additional funding it was starting to look bleak but once they had it they then had a monopoly of the business only sector with all there rivals gone, this i believe would have increased pax numbers and also and more importantly allowed them to raise prices to counteract the rise in oil and as this was something that they had started to do. Im sorry but i do not believe for one second other investors did not realise the risks involved with SIL and it was always going to be a high risk/reward share, the downside risk is unfortunately what we have seen, on the other hand if they had been given the additional finance the upside potential was massive imo. |
Posted at 30/5/2008 10:04 by drewz JC, not very amusing at all for the 300+ staff who will lose their jobs, or the ticket-holders and shareholders who will lose money.From Times Online May 30, 2008 Silverjet ceases flying as cash runs out Company failed to raise cash in time from unnamed investor Robert Lindsay Silverjet, the business class-only airline, this morning admitted it no longer had the cash to continue flying and suspended operations. "It is with deep regret that the board of Silverjet has therefore decided that it must suspend operations with immediate effect," it said. The last flight took off at 7.30 this morning from Luton on its way to Dubai. Last night Silverjet said that its would-be Abu Dhabi investor Viceroy had still failed to provide it with the $5 million cash loan it had promised under a rescue deal and that it was left talking to just one potential rescue investor. Related Links Silverjet flying on empty as finances hit red Silverjet airline fights to stay in the air This morning it added: "Silverjet continues to be in discussions with investors interested in supporting the business, however, it has yet to conclude such discussions to its satisfaction." The advance was required as a matter of urgency since its working capital reserves were limited. It is understood it did not have enough cash to pay for the fuel for any more flights. A spokeswoman said she believed founding chief executive Lawrence Hunt was still talking to the investor, but agreed that the future looked bleak now the airline has no income coming in. It employs some 330 people in Luton. Silverjet said customers who have booked flights via credit card should be able to receive money back from their credit card company or from their travel agent. But others are unlikely to get their money back. A week ago Silverjet's shares were suspended when the airline revealed that Viceroy was not handing over the cash which it needed urgently to keep flying. At the time the airline confirmed that it remained in talks with one party which was interested in investing in the company. The Luton-based carrier, which offers business-class flights to New York and Dubai for about one third of the price of a British Airways ticket, said last year that it was losing about £1 million a month. This figure is rumoured to have doubled in recent months. Silverjet's share price has fallen from 120p at flotation to 13½p before its stock was suspended. |
Posted at 30/5/2008 09:34 by weemonkey have been going through the RNS's looking at the sorry declinethere are so many lessons to be learned here. not least that ceo's do not tell the truth. having said that is it their job so to do? Do you know I do not think it is. How do investors spot what is true and what is not? less than a month ago the CEO was still making very positive noises - making strenuous rebuttals of all negativity. Well that is his job - to fly in the face of the mounting evidence that said that all was not well. That is absolutely the job of the CEO in these circumstances. Gordon Brown is in effect the CEO of the uk. does he tell the truth? no absolutely not. the facts are that Uk plc is facing very grim times. and again it is not his job to tell us that this is the case. companies and economies run on confidence. New ideas need confidence and must try to fly in the face of the evidence that they may not work. Without that confidence they stand no chance right out of the starting gate. With confidence something new and wonderful may be achieved. there is always failure when you try something new. but occasionally great change is brought about. what investors have to do is compare statements from CEO's with the market and operating conditions in which companies operate - then make a judgement. Poor old silverjet. Gosh I so nearly invested in you. I was itching to - absolutely itching to. Peter Lynch's words from 'One Up On Wallstreet' rang in my ears (thankfully) - "If you are not sure about an investment then tune in later". And as Mr Lynch also points out - when companies go under it does not matter whether you invest £10k at £1.50 a share or £10k at 14p a share you still lose you £10k. I was also very lucky - I had a friend that flew to New York with them in January. She said the flight was half empty and that the atmosphere on board was like being in newly opened restaurant that is doomed to close. Wtih the staff slightly too eager to please and yet everything is not quite good enough. That piece of info on its own stayed my hand. this was great idea that hit very bad weather - A huge and unforseable spike in the oil price and a general economic downturn in the principal markets in which the company set out to operate namely the USA and UK. I feel very sad for all concerned. |
Posted at 04/5/2008 17:39 by bammbamm From ft.com www.ft.com/cms/s/0/eI believe April stats due out on Tuesday as well. Could be a good rise in load factor? Silverjet secures Mideast rescue By Kevin Done, Aerospace Correspondent Published: May 3 2008 03:00 | Last updated: May 3 2008 03:00 Silverjet, the UK all-business class airline, said last night it had reached a binding agreement with a Middle East investor for an emergency injection of about $25m in debt and equity. The airline has been battling for survival, as two of its closest rivals Maxjet Airways and Eos Airlines of the US have collapsed into bankruptcy. Silverjet has agreed a rescue deal with Viceroy Holdings, which the airline said was registered in the island of Nevis and was affiliated with Viceroy Fund, an international luxury brand development fund based in the US and in the United Arab Emirates. Lawrence Hunt, Silverjet founder and chief executive, said Viceroy was a long-term strategic investor, which was committed to the development and expansion of Silverjet and had proposed to inject further capital into the group. As part of a loan agreement, Silverjet Aviation, a wholly owned subsidiary of Silverjet, can borrow up to £8.4m for three years at an interest rate of Libor - the interbank lending rate - plus 2 per cent. In addition Silverjet will issue 25m new shares to Viceroy at 17p a share to raise gross proceeds of £4.3m. Viceroy will become the biggest single investor in Silverjet with a stake of 28 per cent and will have two seats on the board. The share issue must be approved by shareholders, the UK Civil Aviation Authority and TFB, a company owned by the Reuben brothers, UK property developers, which provided a £10m loan to Silverjet late last year. Silverjet revealed earlier this week how precarious its financial position had become and said following "recent material increases" in fuel prices and tightening of credit conditions in the airline industry, its working capital had "deteriorated" and its residual reserves were "limited." Without the Viceroy deal it would have had to "source alternative means of funding as a matter of urgency." Silverjet said that under a memorandum of understanding agreed with Viceroy earlier this week, the fund had agreed to invest up to a further $75m (£38m) in the development of the airline. The Silverjet brand and concept would be launched into new markets in the Middle East, the Far East and Africa, using the Middle East as a regional hub. Silverjet shares have plunged in recent months amid the group's continuing losses and the sharp deterioration in the fortunes of the airline sector. The airline was floated on London's alternative investment market in May 2006 at 112p. Its share price climbed to a peak of 209p in March last year six weeks after flying operations began, but it has since collapsed and has traded as low as 12½p in recent weeks. The airline said it had achieved an average fare in April of £550 per flight on both its routes from London Luton to New York Newark and Dubai. |
Posted at 15/1/2008 09:24 by maxk Analyst advises sell at any price over 'likely to fail' Silverjet By Danny Fortson Published: 15 January 2008 Silverjet, the start-up business-class only airline, was the worst performing small cap stock yesterday after an analyst set a share price target of nil for the company and branded it "likely to fail". In an unusually brutal note, Mike Stoddart, an analyst at Daniel Stewart & Co, initiated coverage on the company by advising investors to "sell at any price". The note comes just three weeks after MAXjet, a rival business-class only carrier, filed for administration under a mountain of losses and debt. Silverjet fell 28 per cent to 35.5p. It issued a Stock Exchange announcement pointing out "numerous material mistakes and inaccuracies" in the note, including an assumption that return flights cost nearly twice as much to operate than they do in reality. The company said it remained confident that it would hit its target of reaching pre-tax profitability by March. Silverjet, which began service a year ago this Friday, flies its fleet of three 767's refitted to fit 100, lie-flat beds from London to New York and Dubai. Mr Stoddart argued that its declining load factors 52.8 per cent of seats filled in December is far too low to keep it airborne. Silverjet's largest investors are the Reuben Brothers, who have given loans to the company convertible next month to a 22 per cent stake. Asked why he would publish a 32-note page note on a firm he thought was worthless, Mr Stoddart said: "I'd done a lot of work on it, so I thought it would be better to make some use out of it." Arden Partners, the company's broker, put out a note with an opposed view yesterday, urging investors on with a "Buy" rating and forecasting a more than quintupling of its 2007 revenue. |
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