Carr's Share Discussion Threads

[somethingsup] 14/3/2023 11:34

I understand it’s GT taking their time signing off with no changes to unaudited or AGM announcements but I just can’t believe that nothing else is afoot?
I’m sort of hoping there is something afoot?!

An RNS signing off Audit followed by another for takeover of 2 remaining businesses.

[samson23] 14/3/2023 10:49

Still no news from Carrs .I wonder if this is because of a real problem ,or GT hanging it out to get "overtime" (they were lowest bidder last year at auction KPMG lost out) or is someone holding the results up to get time to accumulate funds for when the share price plummets on opening to make a takeover bid?

[p1nkfish] 09/3/2023 18:18

50/50 as to whether is rates up or down afterwards. Must be big complexity to account for this delay though.

Dead money trapped as is.

[hkiom1] 09/3/2023 17:23

From the LSE AIM rules:

Cancellation:[…;]
The Exchange will cancel the admission of AIM securities where these have been suspended from trading for six months.
Cancellations are effected by a dealing notice.

We are over two months into the six months timeline, so early July the shares will be delisted unless the Board can come up with audited accounts by then. For me, they have lost all credibility whatsoever. Let’s wait and see…

[hkiom1] 09/3/2023 12:47

I think the shareholders need to start writing down their investment to zero, I certainly will - even if trading resumes, the company has become pretty much uninvestable, so they might re-list at £0.50 per share and get bought out at £1.00… That’s probsbly the best anybody can hope for…

[p1nkfish] 09/3/2023 11:47

Having said that, he's hardly shone looking at FCRM and EKF.

The old guard dropping the ball a little too often.

[p1nkfish] 09/3/2023 11:45

Good luck.
They are probably rabbits in the headlights if they have to release something less than good. Mills might shake them up a bit, hopefully.

[samson23] 09/3/2023 10:43

I emailed Carrs on Monday asking on behalf of small shareholders when would trading restart. The website promised reply within 2 working days ,so far no reply.

[hkiom1] 09/3/2023 10:01

Couldn’t agree more - this is worthy of some backstreet one man bsnd, but not of a quoted company.

[fevertreeman] 09/3/2023 09:38

The Board of Directors and their professional advisers should be hung out to dry! They have failed to do their roles competently; they have failed their shareholders; they have failed their colleagues. It is absolutely shocking state of affairs, and page should be issuing a statement explaining wtf is happening.

[hkiom1] 08/3/2023 18:26

Just before the AGM almost 2 weeks ago, they said the signing of the accounts was ‘imminent̵7;. Here we are and still none the wiser - maybe need to prepare for the worst - company getting de-listed and somebody buying them on the cheap. I hope Companies House will at least start legal proceedings against the directors.

[kinwah] 08/3/2023 15:43

I was looking again at the interim results and it was quite astonishing the rise in debt due to working capital requirements. My feeling is Carrs Group had to advance substantial loans to CBA Sales because of rising commodity prices and slower payment by the customers. I don't know over what time frame those additional loans will be repaid. It's just as well oil, wheat and soya bean prices stopped rising otherwise Carr's could have been up against its banking limit. No surprise really that they chose to sell the high turnover low margin business as it was too capital intensive.

[1tx] 08/3/2023 14:00

We still don't know the actual cash rec'd from the sale of our share of Carrs Billington.It was last anticipated at £29m,a lower figure than originally expected,now revised to exceeding the net debt shown as £14m.....in the continuing group pro forma accounts.

[fevertreeman] 08/3/2023 12:07

What a complete mess Page has made of this company!

[1tx] 06/3/2023 13:10

Carr's Group Plc is now listed at Companies House as "Accounts Overdue";Carr's retained operating companies have different year ends but need to file accounta at Companies House by 31st May at latest,they have normally filed much earlier(January).If the operating companies fail to file accounts on time there is a real danger that creditors/suppliers will start to panic.Not quite sure why they have failed to file already as I thought the problem was at Carrs Billington.

[hkiom1] 03/3/2023 17:23

Carr’s shareholders havd been unable to trade their shares for over 2 months now, so it will be interesting st what price they re-list, if ever. My guess is 50-60p and then a successful hostile takeover at £1.20…

[fevertreeman] 03/3/2023 16:43

I couldnt agree more with you. Shareholders have been totally legged over by the management team.

Page has presided over a total shambles ; just look at the performance of Wynnstay to see how a company with talent, focus, and a vision can deliver. All Page has deliveredhas been utter despair and disillusionment, though of course he wont be hurting financially himself.

[1tx] 28/2/2023 15:06

Interesting to see the significant vote against or withheld against some directors; Worby & Jones in particular,also against incentive and bonus plan at AGM.

[somethingsup] 27/2/2023 14:38

Very encouraging AGM. I wouldn’t be selling if I were you. Good luck all. Audit (old Carrs) should be finalised next week. Trading starts then. No issues just complexities.

[ih_828715] 27/2/2023 11:24

Better get something for them than nothing - with the current display of incompetence the company is hardly investable, so if / when the shares get restored to any form of listing somewhere, I can see many funds etc. running for the exit and with not many buyers about, I don't think it will bode well for the share price. At this point it is hard to see what the board are playing at.

I just checked, nothing filed so far with Companies House....

[p1nkfish] 27/2/2023 11:22

Absolutely, please sell.

[remslie] 27/2/2023 10:28

I think there will be plenty of people happy to buy your shares at that price

[hkiom1] 27/2/2023 09:59

So far no audited results forthcoming, even though apparently they are now 'imminent' -makes you wonder whether the board are simply playing for time. Let's hope Harwood offers £0.60 per share and takes the place private - he will certainly get my shares at that price...I cannot see the shares being above £0.50 after, if ever, the listing is restored.

[somethingsup] 27/2/2023 08:27

No sight of Audited Results?
AGM at 12 today!
Trading starts when…tomorrow🤔