Amey Share Discussion Threads

[quidzinn] 08/11/2002 14:48

Somebody is stakebuiding ??

RNS Number:5624D
Amey PLC
08 November 2002

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
Amey plc

2. Name of shareholder having a major interest
Sterling Investment Group Limited

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18
Notification in respect of 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them
P.H. Nominees Limited - number of shares not stated

N.Y. Nominees Limited - number of shares not stated

5. Number of shares / amount of stock acquired
Not stated

6. Percentage of issued class
N/a

7. Number of shares / amount of stock disposed
Not stated

8. Percentage of issued class
N/a

9. Class of security
Ordinary shares of 1p

10. Date of transaction
Not stated

11. Date company informed
8 November 2002.

12. Total holding following this notification
12,275,000

13. Total percentage holding of issued class following this notification
4.86%

14. Any additional information
Dr. Tito Tettamanti of Totara Park House, 34-36 Gray's Inn Road, London WC1X
8NN, is also interested in the shares through his indirect controlling interest
in Sterling Investment Group Limited.

15. Name of contact and telephone number for queries
Carol Hui,

Goup Company Secretary

020 7659 1900

16. Name and signature of authorised company official responsible for making
this notification
Timothy Maw

Company Secretarial Administrator

020 7659 1935

Date of notification
8 November 2002.

[tday] 08/11/2002 14:44

quidzinn

Do you realise that we might be the only friends half wit has?

[quidzinn] 08/11/2002 14:06

Well .... the half wit has now infested the BGY bb as well. I hope he has his computer confiscated - sooooonnnnn.

Q

[tday] 08/11/2002 13:39

Hi half wit.

Cheerful as ever, I see.

[halfpenny] 08/11/2002 13:04

looking very RISKY....lots more to DROP....


16p to come soonnn

[day_dreamer] 08/11/2002 11:54

I'm too nervous to hold this one and have just closed out at 28p
for the 10k I bought yesterday at 24.87p.
Gets some of the money back I lost on it last month.

Still 6 v 6 on L2.

Watch it fly now :-))

Gravy

[ildamiano] 08/11/2002 11:14

Judging by the chunky trades that have been going through over the last week, there does appear to be some serious stakebuilding going on. The battle lines are being drawn for a power struggle for the company, which can only favour the price.

Delighted to see that I am wrong thusfar in my prediction that further falls would occur today - the announcement that the Tube contract will be signed within a month, and diminished fears about the legality of financial guarantees to the company seem to have helped out.

There was a query about margins on contract wins earlier - in their last report, AMEY stated that margin had improved to 7.4%. Apply that figure to the order book of 4.8 billion, and you've got future profits of 355 million pounds. No wonder vultures are circling!

[tday] 08/11/2002 11:08

Not much evidence of half wit this morning, with the price rising.

Sooooooonnnnn maybe.

[alisonm] 08/11/2002 10:59

Ckt328 - hopefully you are referring to upwards!

[ckt328] 08/11/2002 10:53

AMY - watch it go !!!

[day_dreamer] 08/11/2002 10:39

The mm's are certainly pushing this high but this is a very
risky trading stock as I found out last month.

5 bid and 1 offer L2 AT 27-29p

Gravy

[quidzinn] 08/11/2002 10:39

Moving up nicely now - panic over 30p plus soooooooooonnnnnnnn lol !!

Q

[day_dreamer] 08/11/2002 09:38

Only 2 left on that offer now !

[recruiter] 08/11/2002 09:16

good posts alison.
Well worth thinking about a return to this stock, after all what else can go wrong !!!!

[day_dreamer] 08/11/2002 09:09

6 mm's have moved up their quotes since the open.
Currenetly 2 bid and 5 offer 26-28p

Gravy

[alisonm] 08/11/2002 09:04

This is on our favourite Bloomberg this morning:-

"
London, Nov. 8 (Bloomberg) -- London Underground Ltd. and the government may insure the subway's contractors against a challenge to the network's part-privatization, the Financial Times said, without citing anyone.

London Mayor Ken Livingstone opposes, on safety grounds, government-sponsored plans for contractors to seek financing from the private sector to avoid increasing government debt. London Underground picked Metronet and Tube Lines Ltd. last year to repair trains, tracks and stations as part of plan to modernize London's 139-year-old subway network.

An indemnity against a successful legal challenge from Livingstone would be unenforceable, said an unidentified adviser to Transport for London, which manages the capital's public transport system, the FT reported. Bidders may have their contracts canceled and might receive 30 years' worth of expected profit, the adviser told the newspaper.

The government is already underwriting as much as 3.7 billion pounds ($5.8 billion) in loans to the private contractors, the FT said. Livingstone and Bob Kiley, his transport commissioner, have privately told the U.K. Department of Transport they won't mount an appeal, an unidentified government official told the newspaper. Livingstone dropped a legal challenge in July. "

Again if this happens good new for Amey.

Anyone got level 2.

[alisonm] 08/11/2002 08:58

At least another date has been set for the signing of the LUL contract. This should surely be good news for Amey.

"LONDON (AFX) - London Underground Ltd said the signing of the Public Private
Partnership (PPP) contracts has been delayed for another month until Dec 7.
"All parties (involved in the contracts) agreed to delay (the signing of the
deals)," a spokeswoman at the LUL said.
The contracts were supposed to be finalised today.
"Clearly, the transactions are not yet complete. A major reason for the
delay is the court challenge brought by the Mayor and Transport for London in
the summer, which they were forced to withdraw," the spokeswoman added.
But she stressed: "We are making good progress towards finalising the
deals.""

[quidzinn] 08/11/2002 08:40

people are readily buying at 28p - dummy ...

Q

[halfpenny] 08/11/2002 08:27

Why buy at 20p when it will soon be 16p ???

(;-)) very happy

[day_dreamer] 07/11/2002 23:13

Lets see how it goes in the morning then :-))

Was watching out of interest on L2 at the death and all
the mm's seemed to be upping their quotes but will they
do this tomorrow ??

Gravy

[dwnash] 07/11/2002 23:05

who says the £4billion of contracts are proffitable, they may have underestimated their margins and could be busily going broke, for a firm that has big contracts there is little or no money left in tne pot.
I lost money on the first drop, i wish i had looked on it from this angle then.
I hope for those left in that things turn out better, but who knows, best of luck

[day_dreamer] 07/11/2002 22:43

Could be an interesting play at these levels !!

That 4 billion order book is the key and they could easily
sell parts of the business if they need to raise cash but
are reluctant to make a forced sale at a cheap price.
I got stung in these last month but feel there is a future
with Amy at these prices.

Gravy

[jim digriz] 07/11/2002 22:08

I think its a good thing they are not paying the dividend... AMEY needs capital to grow, but I wish it had been a planned financial decision rather than forced.

The compay has a market cap of £65m as of now. If it had about, um, £65m less debt there would be no worries over its future and it would be worth about, uh, £650m.

There so has to be a way to dig Amey out of this...

A rights issue comes to mind.

IMHO DYOR BYOB