Greatfleet Share Discussion Threads

[callumross] 30/7/2008 16:36

even bigger scandal now encarter as the management who got the company into this mess has apparently just bought the company from the administrators, presumabbly for a song, and not even bothered to notify the non exec directors!

The non executive directors of the Company (being Sir John Baker, Keith Lassman and Karl
Monaghan) (together the "Non Executive
Directors") have become aware today that, following the appointment of Michael Healy of
Leonard Curtis and Paul Boyle of Harrisons as
administrators (the "Joint Administrators") on 29 July 2008, the Joint Administrators have
subsequently agreed to the disposal of certain
businesses and assets of Greatfleet. The Non Executive Directors have sought to verify this
information with the Joint Administrators but
the Joint Administrators have not yet responded to this request. Shareholders should be aware
that, subsequent to the appointment of the
Joint Administrators, the obligations, duties and responsibilities of the Board have been
assumed by the Joint Administrators, and that all
decisions relating to the sale of the Company's business or assets have vested with the joint
administrators.

The Non Executive Directors understand that the purchaser is a company connected with
Colin Gerstein, Chief Executive Officer of the
Company.

This being the case such a disposal constitutes a related party transaction under the AIM
Rules for Companies. The Board have played no
part in the decision-making process to sell the business and assets of the Company and their
views have not been sought by the Joint
Administrators. As a consequence, the Non Executive Directors are unaware of the terms of the
transaction and unable to offer any opinion on
whether these are fair and reasonable insofar as shareholders are concerned.

[encarter] 09/7/2008 22:36

A bit of research and it was obvious. Another AIM scandal.

[floppyjoe] 09/7/2008 18:07

Suspension.Someone was given the nod here.

[encarter] 08/7/2008 23:48

Looks like they maybe out of cash

[callumross] 08/7/2008 16:41

10k sold at 7.5p after the close - someone getting out at any price!

[callumross] 08/7/2008 16:16

oops - looks like time to exit this dog.

[tobywilliamson] 08/7/2008 11:10

When it gets back to 5p will they do another consolidation?

[callumross] 05/11/2007 13:28

am glad I got out after the first profit warning - looks like she is heading for the administrators yard now - working capital issues, trading issues, "certain matters" - nowt left for shareholders methinks.

[daveyboyclarko] 05/11/2007 08:57

Take a look at
Centurion Electronics
Epic: CUC
Share Price: 5.75p
Marker Cap: £0.8m
12 month high: 31p
Announcement imminent
Info posted on CUC bb.
Stick it on your monitor

[tobywilliamson] 02/10/2007 17:25

what a farce

[callumross] 18/9/2007 16:24

results going to be published next Tuesday 25th September - could this trigger a run up in the shares?

[puku] 16/9/2007 12:25

Borrowing £650,000 at 1.5% per MONTH plus 5% fee beginning and end . thats VERY expensive money ! And issuing 17m new shares. I am out !

[d6529] 13/9/2007 14:49

proactiveinvestors.com comment;

[callumross] 12/9/2007 12:44

any views on the acquisition gardenboy?

[callumross] 01/8/2007 18:42

interesting - first MM to MM purchase I have ever seen on this stock - 17500 at 17p

[gardenboy] 25/7/2007 18:03

favourable trading statement today and looks like they expect some good business in the second half

[callumross] 19/7/2007 23:04

from today's Guardian newspaper

"Keep an eye on Aim-listed recruitment group Greatfleet, 16.25p. The company reversed into quoted rival Longbridge in 2005, and chief executive Stuart Blake has spent the time since then reorganising the group to concentrate on the legal, professional services and financial services sectors. For 2006, Greatfleet reported a £530,000 profit, compared to a £1.7m loss. With business thought to be going well at the moment, analysts are forecasting profits of around £1.9m this year. The company is on the look-out for bolt-on acquisitions, and is expected to use a mixture of debt and new shares to fund any deals. In March it raised £2.52m with a placing to new and existing institutions at 14p a share. Since this was oversubscribed, the company believes there is pent-up demand for its paper."

[callumross] 05/7/2007 09:12

A positive trading outlook from Michael Page (MPI) today should bode well for the future prospects of Greatfleet

[callumross] 15/6/2007 11:30

just topped up with a futher 10k, gardenboy, - looks better and better value, the more I research this one.

[gardenboy] 14/6/2007 19:52

can't find out much about Fram Capital - used to be called New Broad Street Capital based in Guernsey

[paved] 24/5/2007 18:34

yes i heard similar comments. but a few did say they wouldn't buy because the share price had already doubled from its low and felt they missed zee boat