Amey Share Discussion Threads

[alisonm] 11/11/2002 17:50

Again this is on bloomberg.

"Amey has no knowledge of any potential investigations into its earnings for the current fiscal year by the Financial Reporting Review Panel, Cardew said. The company may face a review of its earnings when they are published in April, the Financial Times reported.

The panel -- funded by the government, accounting bodies and contributions from the Financial Services Authority -- said it ``couldn't confirm or deny'' the newspaper report, which didn't cite anyone. "

[alisonm] 11/11/2002 17:45

Saw this posted on Bloomberg today.

"Amey Plc, the U.K. engineering company that canceled its interim dividend this month, said bidding for stakes that it has in 12 road and rail projects has reached a second stage.

London-based Amey expects to sell its share of a concession to maintain a stretch of road between Birmingham and Manchester and other infrastructure projects by the year's end, company spokesman Anthony Cardew said.

``The second round of the auction is going on now,'' said Cardew. He declined to name any bidders.

Chief Executive Officer Brian Staples plans to sell a unit and stakes in joint ventures to help reverse a cash outflow caused by spiraling bidding costs and contract delays. Amey, one of the companies selected to improve London's 139-year-old subway, canceled a dividend payment of 1.16 pence a share.

The Independent on Sunday reported yesterday that HBOS Plc and John Laing Plc are in the running to buy Amey's portfolio of joint ventures, estimated by analysts to be worth up to 70 million pounds ($111 million). "

[tday] 11/11/2002 10:03

Half wit,

This isn't America - we don't have Chapter 11.

Wrooooonnnnggggg again!

[halfpenny] 11/11/2002 08:29

There will be little return with CHAPTER 11 - liquidation comes into effect....therefore there will be NO buyer unless the shares are much less than 16p ...we could see a 10p price....hhhmmmm

very risky


16p or less to come sooonnnn

[halfpenny] 11/11/2002 08:27

BIG DROPS TO COME....


16p sooonnnn

risky

[davefrancis] 11/11/2002 07:42

LONDON (AFX) - The Financial Reporting Review Panel will consider whether to
scrutinise the next set of accounts of Amey PLC, the troubled support services
company, following concerns about its accounting practices, the Financial Times
said without citing sources.
The regulator is responsible for investigating companies that allegedly fail
to adhere to financial reporting rules, and can require them to restate their
accounts.

[davefrancis] 10/11/2002 23:55

London, Nov. 10 (Bloomberg) -- Amey Plc, the U.K. engineering company selected to help modernize London's subway, is close to selling its stakes in private finance initiatives for 70 million pounds ($111 million) to avoid running out of cash, the Independent on Sunday reported, without citing anyone.

HBOS Plc, the fourth-biggest British bank by assets, is the frontrunner to buy the stakes in PFI projects, under which private companies undertake work for the government, the Independent said. John Laing Plc, a 150-year-old U.K. construction company, is also in the running, the newspaper said.

Amey's PFI projects include two new stations in London for British Transport Police and a contract to maintain schools in Edinburgh, the paper said.

The company last week canceled payment of a first-half dividend and said it will consider ways to reverse a 93 percent plunge in its stock this year.

[psps] 10/11/2002 21:17

AMY's bottom are too big....and i bet u they smell as well

[alisonm] 08/11/2002 22:17

If anyone is interested in the individual - again another interesting read (does take a couple of minutes to load)
www.isc-symposium.org/isc/tettamanti.pdf

[alisonm] 08/11/2002 21:39

For those interested in more on Sterling Investment Group Limited, they have roughly the same % holding in a company called Charter Plc which looks after ESAB and Howden - www.charterplc.com.

Interesting reading what its involved in - could be a bonus for Amey

[james111] 08/11/2002 18:01

Stable i have lost money before with companies the government couldnt afford to let go bust, like camell laird for one.
Recruiter i thought you were wise in what u did, i must admit at times i have the ostrich syndrome it worked the past 2 days lets hope we start heading north now. nice to have u back
Regards James

[dubbsie] 08/11/2002 17:08

It needs a white knight - be sure they won't be paying a premium!

[snappy] 08/11/2002 17:01

not a pretty sight and if the only thing holding it up at 25/30p is the usual bid rumours then I wouldn't want to be long with this one.

[stable] 08/11/2002 16:56

We must remember that the UK government cannot afford for Amey to go as this would throw the PFI sector into direpute and Gordon Brown is counting on the PFI to do his extra spending away from treasury books.I bet that they have been ringing around calling in favours to make sure Amey and its PFi contracts stay in some how.

[tday] 08/11/2002 16:41

Well half wit, 75p soooooonnnn.

Have a nice weekend.

Nothing personal.

[alisonm] 08/11/2002 16:37

ta day_dreamer - welcome back recruiter.

[day_dreamer] 08/11/2002 16:33

It was 1 bid and 4 offer at the death.

Gravy

[alisonm] 08/11/2002 16:23

The stakeholding which was anounced today is certainly a sizable chunk - especially considering the size of trades recently. anyone got level 2 at the mo

[recruiter] 08/11/2002 16:14

well done all who held out.
I'm back in today.

[ildamiano] 08/11/2002 16:10

retchtub,

Excellent news - nice to see a professional confirm what I've been rattling on about for the last few days. Big trades are still going through, so we can expect to see more stakeholding press releases to come, including presumably, the identity of whoever has been doing all the selling in the last few days.

76p - now that would be sweet!

[quidzinn] 08/11/2002 15:38

Ciao Rechtub - mille grazi.

Q

[retchtub] 08/11/2002 15:28

hi all
graeme summers analyst at brewing dolphin says
bottom up analysis valuues amey at 76p.
appears to be fairley attractive,though estimates
break-up value at 150p. comment on market eye to day.
shares are for the adventurous.

chow..

[quidzinn] 08/11/2002 14:50

TDay

Is halfwit stalking you as well ?

Q