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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cagney | CGNY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 0.35 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.35 |
| Top Posts |
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Posted at 12/4/2010 13:29 by carwhite TIME TO GET OUT OF THE MARKET?It is almost time for the country to decide. But as the 2010 general election approaches, we must prepare ourselves for an even greater barrage of distorted facts, denials of responsibility and undeliverable promises than usual. Amid the clamour, we need, as investors, to be clear how we got here if we are to have any chance of venturing credible opinions about the future. During the "great moderation" of most of the past 15 years, the developed economies, including the UK's, achieved a benign combination of low inflation and strong growth. We accepted cheap manufactured goods from China and other fast-developing countries without thinking much about the long-term consequences. As our industrial sector wilted, the growth had to come from elsewhere, with the aid of low interest rates, a surge in borrowing and a rise in public spending. Under the Labour government, from 1997 onwards house prices tripled and consumer debt rocketed. The household savings ratio collapsed from 9% of post-tax household income in 1997 to just under zero at one point in 2008. However, lending bubbles always end in busts and there was a dramatic crash in 2008. Even though interest rates have now been slashed, people are no longer keen to borrow and economic growth has stalled. The savings ratio has risen recently, but only because people are borrowing less rather than saving more. China and other fast-growing countries such as India and Indonesia are now powerful competitors. They are driving down wages in Western economies and preventing domestic demand in the UK and elsewhere from bouncing back strongly. Meanwhile, unemployment is rising. In Spain, for example, unemployment has reached 20%. As in the 1930s, a trade war looms. Following the private sector borrowing binge, we now have the public sector splurge. It cannot be long before there is another panic, this time by buyers and holders of government bonds. Taxes will have to rise and government spending must be slashed. However, there is a risk that the next UK government will resort to allowing inflation to surge - in effect, stealing wealth from its creditors in a partial default - in order to postpone the inevitable reckoning. Already, we are seeing 3.5% inflation at a time when savings deposit rates are near zero. This is continuing a process in which UK savers have been pillaged in various ways by the government. Extra taxes on pensions represented an early step, zero short-term interest rates have amounted to a huge tax on depositors, and so-called quantitative easing (QE) has been used to hold down bond yields at a terrible cost for new pensioners seeking to buy income through annuities. On the other hand, many housebuyers have been subsidised. However, mortgage rates could rocket in a year or two when supplies of artificially cheap liquidity to the banks run out. Sustainable economic growth requires a quite different policy model. Substantial savings can be used to finance strong capital investment. Technological improvements and enhancements to the skills of individuals feed the process. But this is a slow and erratic formula, unattractive to today's politicians in search of a quick fix. Whatever vote-seeking politicians say, we face economic upheaval. What has happened so far is just a warm-up. Nevertheless, beyond the coming crunch lies the hope that savers will be given proper status and respect. Certainly, the Conservatives have been talking about encouraging saving. It is not very clear what they might mean by this in practice. We may, though, be able to look forward to an era when banks compete for deposits by offering attractive interest rates rather than by queuing for handouts at the back door of the Bank of England. Tax incentives for pension plans and other long-term forms of saving may return to their historical levels. This transition will, however, be quite difficult for investors. The traditional safe haven of government bonds - considered, in the past, to be free of default risk - is troubled. The UK government's AAA credit rating may not last until the end of the year. Meanwhile, there is not much comfort for UK savers with the problems of the eurozone. Sovereign defaults, normally confined to Latin America or the wilder parts of Asia, are coming to Europe. Gold is the asset most likely to benefit from all this, as it cannot be printed by politicians desperately chasing economic growth. But it is not a comfortable asset to own. Its price is highly volatile and it is subject to special political risks, even perhaps the risk of confiscation (as demonstrated by Theodore Roosevelt with his Gold Reserve Act of 1934). The next most attractive assets are inflation-protected government bonds, including UK index-linked gilts and, if we are looking for international diversification, Treasury Inflation Protected Securities issued by the US. There are also our own National Savings & Investments index-linked bonds. Such investments cover the inflation risk, but not the sovereign default risk. If the inflation risk fades and is replaced by a deflation risk, as some economists fear, these bonds will fall sharply in price. As for equities, these are under conflicting pressures. The most attractive shares are those of big international companies that expect to benefit from continuing growth in some developing economies. Profits and cash flow are often strong, helped by weakening labour costs in still-depressed Western countries, in sectors such as pharmaceuticals, telecoms, technology and some industrials. However, companies that depend on consumer demand in developed countries may struggle. Big, exposed sectors, including financials, property and construction, remain highly speculative. As for oil and other commodity-linked sectors, they continue to be highly leveraged bets on a revival in worldwide growth. After last year's "dash for trash" in equities, which really boosted second-line stocks, it seems likely that 2010 will see sentiment swinging heavily towards the big, first-line international companies. But that depends on whether central banks decide, after their current pause, to once again flood their economies with yet more liquidity - injections that could create more 2009-style asset bubbles. As QE has demonstrably failed to achieve its declared objectives, it would seem logical to abandon it. But first central bankers would have to admit they have stumbled down a blind alley. Because they remain in denial, there is serious danger of a further inflationary and disruptive move first, certainly in the UK and possibly in the US. Only then will politicians and central bankers accept that the lending-driven growth phase, which blew up in 2008 has irretrievably gone. They will have to accept that incomes must continue to fall sharply if Western economies are to regain competitiveness. Short-term interest rates need to rise to a more "natural" 4 or 5% and bond yields to 6% or more to restore savings incentives. In a sluggish economy, today's huge government debts - including pension promises - will be unrepayable and unaffordable and will have to be partially defaulted on. In the deposit market, it seems safest to take a two-year view and fix for a period that avoids the zero rates on short-term money but, in due course, allows the release of funds for reinvestment in better times into liquid deposits and long-term fixed income investments. It is not a time, however, for sitting entirely on the sidelines. We are likely to face political and financial shocks that will require a quick response. The general election will pose just the first of many challenges. |
Posted at 28/1/2010 09:26 by carwhite A friend sent this to CAGNEY THIS MORNINGSTEVE, Thank you for not being man enough, yet again, to reply and for living in the shades of decency. The recent events bare little resemblance to the following RNS.NOR INDEED WHAT YOU TOLD ME It would appear that you have creamed off the assets at fire sale prices, and all the while taken a 100G or so in wages, Which indeed, I protested about last year, looked after yourself, and bolted for the hills leaving the shareholders to ponder about the future of the company. I do not imply anything, however its a well known principle with all whom I deal with, many being international clients, that I do not like anything under the table or the least tainted in business.....the only business is good clean honest business, we have paid the price for the detour of late I will be monitoring this situation closely and I have made a note to the regulators. Sincerely VVVVVVVVVVVVVVVVVVVV Cancellation of Admission to AIM TIDMCGNY RNS Number : 8799W Cagney PLC 05 August 2009 ? CAGNEY Plc ('Cagney' or the 'Company') Proposed cancellation of admission to trading on AIM The Company today announces that it is seeking Shareholders' approval for the cancellation of admission to trading on AIM of the Ordinary Shares. Background to and reasons for the proposal to delist The Company's Ordinary Shares were admitted to trading on AIM on 13 February 2006. In the light of the challenging stock market conditions and difficulties in financing acquisition opportunities, the Directors have undertaken a review of the costs and benefits of having the Company's shares traded on AIM. The review fell into four broad categories - (i) liquidity in the Company's shares; (ii) the ability to raise finance; (iii) the direct and indirect costs of AIM; and (iv) compatibility with the Group's strategy. The key findings were: +-----+------------- | - | Liquidity in the Company's shares is very limited, with 44 per cent of | | | the shares in the hands of four shareholder managers. A minimal free | | | float of shares makes it difficult for anyone wishing to buy any | | | substantial number of shares to do so at a reasonable price. In | | | addition, the low ratings being applied to AIM listed companies, | | | particularly in our sector where there is a general lack of analyst | | | coverage, are making it difficult for anyone wishing to sell to | | | achieve a sensible price. | +-----+------------- | - | In the current economic environment it is difficult for any company to | | | raise investment funds from any source. It is even more difficult for | | | small companies on the AIM market, and still more difficult for | | | companies in our sector. De-Listing from AIM will allow the Company to | | | approach sources of capital that previously were inaccessible due to | | | its AIM status. | +-----+------------- | - | The costs associated with maintaining admission to AIM are substantial | | | and will accumulate for however long Cagney stays on AIM. In addition, | | | whilst the administrative and regulatory burden of maintaining | | | admission to AIM is lighter than on the main stock market, it is still | | | onerous for a company of our size. | +-----+------------- | - | The management team believes that Cagney's future lies in | | | technology-driven developments centred on its market research and data | | | analysis capabilities. Developing this strategy will inevitably | | | require a more flexible approach to investment and performance than is | | | possible on a public market where investors and analysts like to see | | | steady, progressive growth and a steady flow of encouraging news. | +-----+------------- Having undertaken this review and consulted with the Group's advisers, the Directors have concluded that it is no longer in the best interests of the Company or its Shareholders as a whole to maintain admission to trading on AIM of the Ordinary Shares. The De-Listing In accordance with Rule 41 of the AIM Rules, the Company has today notified the London Stock Exchange of the De-Listing which is conditional upon the consent of not less than 75 per cent of votes cast by Shareholders in a general meeting. Consequently, the Company is convening the General Meeting on 28 August 2009 for which irrevocable undertakings to vote in favour of the Resolutions have been received from Shareholders in respect of 48.61 per cent of the Ordinary Shares. The De-Listing is expected to be effective from 7.00 am on 8 September 2009. The Notice of General Meeting is being posted to Shareholders today. Recent Trading The Board is pleased to confirm that the Group has made a profitable start to the year. We expect operating profit for the first half of 2009 to show a modest increase on the corresponding figure for 2008 when we announce our interim results, and we anticipate that our solid start will enable us to report an improved operating performance for the full year. Transactions in the Ordinary Shares following De-Listing Following De-Listing, the Board intends to set up a facility with a reputable firm for the Company's shares to be traded on a matched bargain basis, and has already taken steps to ensure that this can be put in place without undue delay. The Directors intend to continue to keep Shareholders informed of the Company's financial and operational performance through regular updates, and to ensure that the composition of the Board will continue to include at least one independent Non-Executive Director. Shareholders should note that the Company will remain subject to the provisions of the City Code on Takeovers and Mergers. Irrevocable undertakings The Company currently has in issue 218,296,932 Ordinary Shares. The Company has received irrevocable undertakings to vote in favour of the Resolutions in respect of 106,110,950 Ordinary Shares representing 48.61 per cent of the Ordinary Shares. Recommendation The Directors believe that the De-Listing is in the best interests of the Company and its Shareholders as a whole and unanimously recommend that Shareholders vote in favour of the Resolutions to be proposed at the General Meeting as they have irrevocably undertaken to do in respect of their own beneficial holdings which amount in aggregate to 48,914,047 Ordinary Shares representing 22.41 per cent of the issued Ordinary Shares. Circular A circular is being posted to Shareholders today, incorporating the Notice of General Meeting to approve the De-Listing. For further information please contact: +------------------- | Cagney Plc | Tel: 020 7637 4198 | +------------------- | Steve Mattey, Chief Executive | | +------------------- | Patrick Oram, Chief Financial | | | Officer | | +------------------- | | | +------------------- | Smith & Williamson | Tel: 0117 376 2213 | +------------------- | Nick Reeve | | +------------------- | Martyn Fraser | | +------------------- | | | +------------------- | WH Ireland (Broker) | Tel: 0161 832 2174 | +------------------- | Stuart Forshaw | | +------------------- | | | +------------------- | The Media Foundry (PR) | Tel: 020 7612 1163 | +------------------- | Anna Foster | | +------------------- Expected Timetable of Principal Events +------------------- | Publication date of this | 5 August 2009 | | announcement | | +------------------- | Latest time and date for receipt of | 11.00 am on 26 August 2009 | | Forms of Proxy | | +------------------- | General Meeting | 11.00 am on 28 August 2009 | +------------------- | Cancellation of admission of the | effect from 7.00 am on 8 September | | Ordinary Shares to trading on AIM | 2009 | +------------------- Definitions The following definitions apply throughout this announcement unless the context requires otherwise. +------------------- | "AIM" | AIM, the market operated by the | | | London Stock Exchange | +------------------- | "AIM Rules" | the London Stock Exchange AIM Rules | | | for Companies | +------------------- | "Company" or "Cagney" | Cagney Plc | +------------------- | "De-Listing" | the proposed cancellation of | | | admission to trading on AIM of the | | | Ordinary Shares | +------------------- | "Directors" or "Board" | the board of directors of Cagney | | | whose names appear on page 3 of the | | | circular being sent to Shareholders | | | today | +------------------- | "General Meeting" | the general meeting of the Company | | | convened for 11.00 am on 28 August | | | 2009 and any adjournment thereof | +------------------- | "Group" | Cagney and its subsidiary and | | | associated undertakings | +------------------- | "Form of Proxy" | the form of proxy for use at the | | | General Meeting or at any | | | adjournment of such meeting | +------------------- | "London Stock Exchange" | London Stock Exchange plc | +------------------- | "Notice of General Meeting" | the Notice of the General Meeting | | | which is incorporated into the | | | circular being sent to Shareholders | | | today | +------------------- | "Optionholders" | holders of outstanding options under | | | the Cagney Plc 2007 Enterprise | | | Management Incentive Plan | +------------------- | "Ordinary Shares" | fully paid ordinary shares of 1 | | | pence each in the capital of the | | | Company | +------------------- | "Resolutions" | the resolutions referred to in the | | | Notice of General Meeting | +------------------- | "Shareholders" | holders of Ordinary Shares | | | | +------------------- This information is provided by RNS The company news service from the London Stock Exchange END MSCCKQKKABKDKFK |
Posted at 15/1/2010 14:18 by solarno lopez as I said previously I do not own shares and my previous postings warned of Carwhite's postings.So CARWHITE you are saying that YOU suckered some private investors |
Posted at 20/10/2009 14:22 by johnswan193 Some investor you are Mr Coulson the Muncher. |
Posted at 20/10/2009 14:17 by carwhite what the heck is a muncher....I really am not interest what you claim...you lost big time on CGNY as you lost you bottle......some investor. |
Posted at 03/9/2009 20:03 by 0nly me Information below regarding the Matched Bargain system you will be able to verify this by doing your own research if you wish. "We will no longer be required to publish interim results. However, I believe we will send an abridged interim statement and results to our shareholders, but probably not until after the Matched Bargain system comes into force. Ascertaining/trackin Share Dealing On the Matched Bargain Market, both private individuals and institutions are able to deal in the company's shares. Opening an account is not necessary, but [the Service Provider] is required to comply with EU and UK regulations and the Money Laundering regulations 2007. In accordance with MiFID (Markets in Financial Instruments Directive), instruments that are not traded on a Recognised Investment Exchange are classified as Non-Readily Realisable Investments. This means that transactions may be infrequent and there may be a delay between giving the instruction to buy/sell and our completion of the order. It also means that there may be some difficulty in assessing the value of the investment. When an investor wishes to trade on the Matched Bargain Market, [the Service Provider] is required to assess the appropriateness of this type of investment for the investor and they will have to complete a short form. All transactions dealt on the Matched Bargain Market will be done on an execution only basis and [the Service Provider] will not provide advice about the suitability of the investment for the investor. However, should an investor be unsure about suitability of this service, [the Service Provider] is authorised to provide investment advice and can provide advice. There will be an extra charge for this. Dealing Costs All transactions are subject to a 1% commission charge (a minimum of £20 applies). Purchases above the consideration of £1,000 are subject to Stamp Duty payable at a rate of 0.5% rounded up to the nearest £5. Any trade over the value if £10,000 also attracts a Panel for Takeovers and Mergers Levy of £1. Settlement Settlement is on a T+10 basis, for shares that are held in certificated form. Settlement funds can be made payable via BACS or cheque. Share Price The company will advise an indicative price to start trading. [The Service Provider]'s Corporate Finance team are able to provide a valuation service but there will be an additional charge. Matching is done on a day to day basis subject to there being a corresponding number of buyers and sellers at an agreed price. Investors who already hold shares will offer them for sale, indicating how many they would like to sell and at what price. New or existing investors will indicate how many shares they wish to purchase or an amount they would like to invest, indicating the maximum price that they wish to pay for them. If there is a match for both quantity and price, we contact both parties and complete the transaction. Price notification Upon request, [the Service Provider] updates shareholders, institutions and the company itself on the last traded share price and the volume and date of that transaction. Reporting [The Service Provider] maintains a list of enquiries received from buyers and sellers with all relevant contact details. This is monitored on a daily basis and [the service Provider] contacts investors with any significant changes/updates to their current instructions. [The Service Provider] will also provides periodic reporting on transactions that have taken place. Shareholder communications upon admission [The Service Provider] writes to all company shareholders when a company is admitted to the Matched Bargain Market to explain to them in detail how the service works, outline their terms and conditions and provide contact details. Attendance at AGM A representative from the Matched Bargain Market is available to attend the Annual General Meeting of each participating company and is able to provide a brief presentation on share trading over the year. The representative can be available throughout the day to answer any questions investors may have on the facility." |
Posted at 28/8/2009 18:17 by carwhite lololol sour grapes again Mrs Swan. Just enjoy the ride like any professional investor would.You pays your money youu takes your chances big boys don't cry as what done is done. |
Posted at 02/6/2009 13:27 by johnswan193 Oh yeah, I can see big dividends from here. Remember, this is a share for penny traders. Hence 8ball telling us how he topped up his 100k holding, with another 50k purchased out of trading profits. 50k = £250. Says it all.....If this thing was any good it would attract decent investors with quality history of investing. I only bought in here to help out a friend, and got out when I could. |
Posted at 13/5/2009 13:44 by johnswan193 Who would want to buy it anyway? It's for penny investors like you. |
Posted at 08/5/2008 12:05 by johnswan193 Hi Wax, I don't believe there is anything we can do to demand a statement regarding the finances. All we know is that Coutts have undertaken a review of the situation during April. The company did not say when we would be notified as to the outcome of that review, nor did they state when an outcome would be known.David Coulson posted on iii that he met with some Cagney investors yesterday evening. He also brought up the possibility that the Vicky Carrell director buy was a blind to get investors through the GM. I'm not sure I believe in such conspiracy theories, but I would be interested to know how big are the holdings of the investors David claims to have met up with and how concerned they are. I understand that Alex Hambro has indicated to an investor I know that the company will only release an RNS on concrete news that is of interest to shareholders, regardless of whether that is perceived to be good or bad. This underlines my belief that nothing has been confirmed yet regarding the bank situation, which in itself may be considered a concern. |
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