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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Carter&Cart | LSE:CART | London | Ordinary Share | GB00B05K7697 | ORD 4P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 82.50 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 82.50 | GBX |
Carter & Carter (CART) Share Charts1 Year Carter & Carter Chart |
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1 Month Carter & Carter Chart |
Intraday Carter & Carter Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/1/2010 | 15:15 | GET CARTER ! | 459 |
| 18/5/2009 | 10:38 | GOOD CHARTING SOFTWARE SITES? | 2 |
| 31/3/2009 | 07:34 | carter and cart charts and news | 6,423 |
| 17/9/2008 | 20:34 | doomed | 11 |
| 21/8/2007 | 11:40 | URANIUM RES BIG URANIUM FIND | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 02/2/2008 23:01 by andyderbys February 3, 2008Crunch time for Carter & Carter training firm Dominic O'Connell THE crisis-hit training firm Carter & Carter faces a do-or-die shareholders meeting in 12 days' time. Investors have been asked to approve a change in the articles of association that will allow the group's borrowings to go to £175m, twice the level of a year ago. If shareholders say no, "the board would be forced to seek the appointment of an administrator or pursue other insolvency proceedings shortly thereafter", a company circular said. Carter & Carter has suffered a dramatic decline since its founder, Phillip Carter, died in a helicopter accident in May. Shares in the company were above £12 shortly before he died. Two profit warnings after his death led to a collapse in the price. When trading in the shares was suspended in October they stood at 82½p. Last week's circular to shareholders painted a dire picture of the company's fortunes, saying "it is likely that the finalisation of the audit will result in a substantial write-down of goodwill". This in turn would lead to a breaching of conditions on the amount of borrowing the company was allowed to take on. If shareholders approve the change, the board, which is being advised by NM Rothschild, will present a restructuring plan before the end of February. This is likely to include a significant debt-for-equity swap, with shareholders seeing the value of their holdings slashed. |
Posted at 30/1/2008 17:41 by gta5 From Carter and Carter:Posting of Circular 30/01/2008 The Company is today posting a circular to its shareholders convening an extraordinary general meeting ('EGM') of the Company on 15 February 2008, at which a resolution (the 'Resolution') will be proposed to waive the borrowing restriction contained in regulation 90.1 of the Company's articles of association (the 'Articles'). Waiver of the Articles borrowing restriction As announced on 30 November 2007, the Company has been working with its auditors, PricewaterhouseCoope In the same announcement, it was explained that the Company's and its subsidiaries' (the 'Group') indebtedness going forward was likely to be higher than the performance of the business was able to support. The Group's net indebtedness has increased as follows: 31 January 2007 31 July 2007 17 January 2008 Net indebtedness £86m £111m £129m The Group is forecasting a further increase in net indebtedness over the next few months as additional working capital is required. In the year to 31 July 2008 net indebtedness is currently forecast by the Board to peak at £175 million. Regulation 90.1 of the Articles provides that the Board shall restrict the borrowings of the Company so as to procure that such borrowings shall not exceed a sum equal to 'three times the adjusted total of capital and reserves', as defined by the Articles. Due to the reasons set out above it is expected that, when the Company finalises its results for the year ended 31 July 2007, the anticipated substantial reduction in goodwill, which will result in a corresponding reduction in capital and reserves, would result in the Company's borrowings being in excess of the limit stipulated by the Articles. The Articles provide that the limit set may be exceeded if an ordinary resolution is passed by the shareholders of the Company. Therefore, to allow the Company to exceed its borrowing limits, as stipulated by the Articles, and to ensure the Company is able to seek the required further borrowing from its lenders, the Board believes it is necessary to pass the Resolution to authorise the waiver of the borrowing limit in the Articles. Serious loss of capital It has come to the Directors' attention that, as a result of the increase in the Company's overall indebtedness and the trading performance since 31 January 2007, the net assets of the Company have fallen to below half the current called up share capital of the Company. In these circumstances, the Directors are required, pursuant to section 142 of the Companies Act 1985, to convene an extraordinary general meeting of the Company to consider whether any, and if so what, steps should be taken to deal with the situation. Accordingly, this matter will also be considered at the EGM. The Board remains in active discussions with the Company's lenders. If these negotiations are successful, the Board anticipates that the Company will announce full details of a restructuring in February 2008. At this time, a further circular containing full details of the proposed restructuring will be sent to the Company's shareholders in order to seek shareholder approval of such restructuring. Notice of EGM For the purposes of considering and, if thought fit, passing the Resolution and further for the purposes of considering, in accordance with s.142 of the Companies Act 1985, whether any, and if so what, steps should be taken to deal with the situation that the net assets of the Company are less than half of its called up share capital, the circular to be posted today gives notice of an EGM of the Company which will be held at Jurys Inn, Waterfront Plaza, Station Street, Nottingham NG2 3BJ at 9.00 a.m. on 15 February 2008. The Directors believe that failure to pass the Resolution is likely to result in the Company breaching its borrowing restrictions under the Articles. This would cause the Company to be unable to fund its expected working capital requirements and/or would require the Company to repay a substantial amount of the Company's existing borrowings so that total borrowings do not exceed a sum equal to 'three times the adjusted total of capital and reserves', as defined in the Articles, which it would be unable to do. In these circumstances, the Board is of the opinion that alternative sources of finance would not be available and that the Board would be forced to seek the appointment of an administrator or pursue other insolvency proceedings shortly thereafter. The Board is of the opinion that the Resolution is in the best interests of the Company's shareholders as a whole. Accordingly, in the circular to be posted today, the Board will be unanimously recommending that the shareholders of the Company vote in favour of the Resolution at the EGM, as the Directors intend to do in respect of their own beneficial holdings. Copies of the circular have been submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. |
Posted at 02/11/2007 08:41 by mesquida HGal - how refreshing to read a post from somebody who actually knows what they are talking about. I followed EMTEC´s progress long before their acquisition by CARTER & CARTER and it was an excellent business, and probably still could be if it was not part of a heavily indebted group that is now paying the price for one man´s addiction to deal-making. How often have we seen this sort of growth by acquisition type story end in tears, and every time the City falls for it! What surprised me was the reaction to the aborted BPP deal. The deal clearly had no commercial logic, other than the possibility of stripping some of BPP´s valuable properties, but as soon as the deal was called off the CARTER & CARTER share price resumed its upwards path, whereas you might have thought that this event might have caused some of the City analysts to question just what Phil Carter was up to. It certainly was a major sell signal for me, and I am glad that I did not hesitate! Anyway thanks again for your post - after reading some of the drivel from the likes of hvs et al it was like a breath of fresh air! |
Posted at 22/10/2007 19:09 by trevallan If it was £7M that would be good news - but the news story refers to profits hit arising from TtG starts and outcomes and building sector returns only...no mention of financial issues or irrecoverable assets.We should probably assume the real reduction will be much larger - probably wiping out profit or the year altogether. In this case the company's debt (bank borrowings plus shares) would be more than £140M with the share price at the suspended price. Now, how do you justify a goodwill value like that with a current profit run rate of roughly zero and a completely new and untried management team. This business has no track record worth the name - imaging an IPO on this basis and then review your expectations of the share price |
Posted at 17/10/2007 09:26 by topinfo Carter & Carter financial crisis triggered by its accounting policyLONDON (Thomson Financial) - The financial crisis afflicting training group Carter & Carter, whose shares were suspended earlier this month, was triggered by its aggressive policy on crediting income to its accounts, reported The Sunday Times, citing sources close to the company. Accountants from the Carter & Carter's auditors Price Waterhouse Coopers have been trawling through its book after it announced there were doubts over revenues on Oct 2, the newspaper said. It is understood the investigation into the company's finances is now focusing on the timing of payments and when they were credited to the company's books, it said. Carter & Carter's group finance director John Green resigned on Oct 13, at which time the company's chairman Rodney Westhead said "we have no evidence at the moment" of accounting irregularities at the company, The Sunday Times reported. Westhead declined to comment this weekend, it added. paul.sandle@thomson. |
Posted at 14/10/2007 15:47 by scrapheap LONDON (Thomson Financial) - The financial crisis afflicting training groupCarter & Carter, whose shares were suspended earlier this month, was triggered by its aggressive policy on crediting income to its accounts, reported The Sunday Times, citing sources close to the company. Accountants from the Carter & Carter's auditors Price Waterhouse Coopers have been trawling through its book after it announced there were doubts over revenues on Oct 2, the newspaper said. It is understood the investigation into the company's finances is now focusing on the timing of payments and when they were credited to the company's books, it said. Carter & Carter's group finance director John Green resigned on Oct 13, at which time the company's chairman Rodney Westhead said "we have no evidence at the moment" of accounting irregularities at the company, The Sunday Times reported. Westhead declined to comment this weekend, it added |
Posted at 07/10/2007 17:57 by trickyboyfish Shares Magazine - 04/10/07"Carter Struggles On" "Shares in training company Carter and Carter (CART) have been suspended after yet another profit warning. Having already told the market in June and July of the underperformance, a review has concluded full-year results will be even lower than expected. Share trading has been halted while the firm pulls together an accurate picture of its finances. The company has struggled since the death of Chief Executive Phillip Carter in May. A new appointment has yet to be made, while progress with the Learning and Skills Councils new 'Train to Gain' scheme has proved slower than hoped. Shares says: Although this is further bad news, wait for the financing review outcome.DC HOLD" And thats it. |
Posted at 20/9/2007 14:37 by davius Carter & Carter Group plc (the "Company")Announcement re: Share Price The Board of Carter & Carter Group plc note the sharp fall in the Company's share price this afternoon. Following the trading update on 13 July 2007, the Board has been in discussions with its advisers and its banks about the renegotiation of its banking facilities in conjunction with an equity issue. These discussions are continuing in a positive and constructive manner. A further announcement will be made with the Company's results in mid October. The Board and its advisers know of no reason for the sharp fall in the Company's share price this afternoon. |
Posted at 14/9/2007 15:58 by briannewby The shares will have been borrowed from a third party and sold into the market - the expectation is that the share price will go down so the stock can be re-purchased at a lower price and returned to the lender (therefore making a profit). Its quite unusual to see such a large % out on loan - imagine how the share price would react if 17% (about 7 million) shares needed to be bought back quickly? This implies to me the parties who have borrowed the stock are expecting to be able to acquire a large chunk at a lower price (hence squaring the position and making a profit) - and we know funding negotiations are ongoing at the moment.(I hope that makes some kind of sense...) I would expect the timing of the CEO to co-incide with results in Oct (+ financing details) - but don't hold me to it (off to pub now - good weekend all) |
Posted at 23/8/2007 09:52 by flingwing RNS Number:6944C Carter & Carter Group PLC 23 August 2007 TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES (1). Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: CARTER & CARTER GROUP PLC 2. Reason for the notification (please state Yes/No): ( ) An acquisition or disposal of voting rights: ( X ) An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( ) An event changing the breakdown of voting rights: ( ) Other (please specify) : ( ) 3. Full name of person(s) subject to the notification obligation: BEAR, STEARNS INTERNATIONAL TRADING LIMITED 4. Full name of shareholder(s) (if different from 3.): 5. Date of the transaction and date on which the threshold is crossed or reached if different): 21/8/2007 6. Date on which issuer notified: 22/08/2007 7. Threshold(s) that is/are crossed or reached: UNDER 3% 8. Notified details: A: Voting rights attached to shares Class/type of shares Situation previous to If possible using the the Triggering ISIN CODE transaction Number of shares Number of voting Rights GB00B05K7697 1,291,182 1,291,182 Resulting situation after the triggering transaction Class/type of shares Number of shares Number of voting rights % of voting rights If possible using the ISIN CODE Direct Direct Indirect Direct Indirect GB00B05K7697 UNDER 3% UNDER 3% UNDER 3% B: Financial Instruments Resulting situation after the triggering transaction Type of Expiration Date Exercise/Conversion Number of voting % of voting financial Period/ Date rights that may be rights instrument acquired if the instrument is exercised/ converted. Total (A+B) Number of voting rights % of voting rights UNDER 3% UNDER 3% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: 14. Contact name: SARAH CLARK 15. Contact telephone number: 020 7516 6602 This information is provided by RNS The company news service from the London Stock Exchange END HOLPJMMTMMBTBRRCodes Sector SVS Subject GEN Instrument CART GB00B05K7697 |
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