UK Coal Share Discussion Threads

[strutt12] 04/12/2012 14:59

"As part of the proposed plan to address the pension deficit, it is intended that the Pension Trustees will receive a direct 75.1 per cent. stake in the Property Division (through a shareholding in Propco) in consideration for a £30 million cash contribution. The existing Shareholders will be entitled to the benefit of the remaining 24.9 per cent. This stake would be held by the Shareholders, through the Company, which would no longer guarantee the pension liability but has agreed that the first £5 million of shareholders' dividend income would be paid to the Mining Sections. The Company made strenuous attempts to secure an option for Shareholders to subscribe part of the equity of the Property Division, but one of the primary conditions of the Pension Funds to agree with the Restructuring was to have a controlling shareholding in the Property Division."

Can anyone tell me whether this means they are receiving additional shares, how many and at what price?

Thanks

[beeks of arabia] 21/11/2012 20:38

Ahh there you are Daz.

We were worried about you.

[castleford tiger] 16/11/2012 18:20

So is there value here or not?

Beeks you can work out where i am !!
Find the river.............thats my salmon pool thats for sale in the times!!
A

[beeks of arabia] 12/11/2012 18:09

It's copyright matey, so no!

;)

[beeks of arabia] 10/11/2012 16:14

Good grief!

Our new property was built around 1840. Unfortunately it was "modernised" in the 1980s and is now a shadow of its former self.

Typical problems - modern building practices being applied to traditionally built homes, along with some shoddy work. The whole house is cloaked in lime render which was nicely blown over with some impermiable coating. Suicide, especially with no proper dpc.

When damp appeared (as it surely would), they decided to put a dpc in - and then promptly rerender over the top, whilst also plastering over it on the inside!

crazy, crazy stuff. We are slowly putting it back to its former glory however it will take a lot of time, effort and hard cash!

Anyway, I need to prepare for 7 teenage girls arriving - my daughters 13th birthday this weekend.

Good to see you still around Ratty. Hope you are building capital in these turbulent markets!

[loverat] 10/11/2012 09:20

We get cracks in houses down south way. Three main reasons for this - one is due to the type of soil we have - clay - which makes houses (particularly where trees are nearby) vulnerable to subsidence.

Second is we have more than our fair share of cowboy builders who build shoddy extensions and even poorly built and planned new developements.

Thirdly one less known reason but one that is real is domestic violence. My ex sister in law used to regularly throw my brother's weights at him during arguments. This resulted in over a period of time numerous cracks and holes in the walls of his house.

And finally, this story might interest some who are into mining/construction matters. An incident occurred which is almost unheard of in the south is covered in the link below. A house collapsed in the middle of one night in one residential area. What made this story of interest to me is that 10 years ago we nearly bought one of the houses in the row and would almost certainly be homeless but for my general dislike of more modern built houses.

[beeks of arabia] 10/11/2012 07:39

Aye - but not due to mining!



:)

[freddie ferret] 09/11/2012 14:46

Bank of Arabia.
Any cracks in de house man?? :-8)

[dazzaa] 09/11/2012 13:54

Ahh, Jeffian many thanks for that,for some reason I can't review past posts so the memory is not so good !!

Certainly more to the mix than I first reckoned.

Maybe some news in the weekend papers to chew over.

[jeffian] 09/11/2012 00:42

"As I understand it agreement had been reached with the Pension Authorities taking 25% of what would be the Property side allowing complete disengagement with the other."

No, Dazzaa, as stated in 2925 it's the other way round (Pension Fund takes 75% of the property portfolio leaving 25% with shareholders). They also take the first £5m of any dividends paid.

[2baffled] 08/11/2012 23:06

re. 2947;
Good luck and bon-voyage [which means 'have a good journey'].
I add this due to the content of your post 2941.

[loverat] 08/11/2012 22:43

Regarding UNIQ if I remember correctly the pension fund ended up with 90% of the company.

Anyway - I might do some research on this company this week.

[dazzaa] 08/11/2012 22:38

As I understand it agreement had been reached with the Pension Authorities taking 25% of what would be the Property side allowing complete disengagement with the other.

At a price around 4p, no pension problems now just onwards and upwards?

[2baffled] 08/11/2012 22:14

Some may wish to review a similar situation where the pension fund had a struggling business attached.

Research UNIQ.

[beeks of arabia] 08/11/2012 21:25

I dunno Ivan. Some bl00dy avatars eh?

[ivancampo] 08/11/2012 21:23

If it was going bust it would've done so by now, we'll be left with something, not much, but more than current valuation imo. Assuming restructuring is successfully completed of course.

[beeks of arabia] 08/11/2012 19:47

Not up 'ere Ratty!

Life is like a scene from Oliver!

[loverat] 08/11/2012 18:51

Beeksy

Your situation about wagons going past (and potentially underneath) your house reminds me of that Victorian period drama Lark Rise To Candleford. That was set during the expansion of the railways I think in the 1850s - which caused alot of upheavel for many folk.

It even threatened the village post office, the gathering place and lifeline for villagers.

Times don't change that much, do they Beeksy?

[beeks of arabia] 08/11/2012 18:42

dyofr.

Best regards


Your pal Beeksy

[dazzaa] 08/11/2012 18:38

Gosh

Lets have serious thought here / will the price rise over the next 12 months or not, no big deal, or will the company fold, simples