Centrom Share Discussion Threads

[safman] 16/3/2009 17:43

also, rather than being a market for entrepreneurs , and building value via equity, it seems to have gone the other way..

there are some companies out there, that don't follow that, but nowadays, becoming increasingly difficult finding them...

saffy..

[safman] 16/3/2009 17:39

yeah, i think thats the point i was trying to make.. a glutten of companies out there, whose mkt cap is lower that dirs salaries..

When the success of AIM was pointed out a few years ago with over 1600 companies listing, it was phoney, just like todays economy or the american dollar..

they have it completely wrong, and a casino is more the case..

if they have'nt gone bust, they then decide to delist, or now a third scenario of the above, an offer 90% below its current value as of friday..

saffy..

[dolphinj] 16/3/2009 17:29

Guess who decided what they were worth

Yes our old friends

Board Committees

The Board has established two committees.

Remuneration Committee
The Remuneration Committee meets on at least an annual basis to consider the remuneration of the executive and non-executive directors and senior management.

Audit Committee
The Audit Committee meets at least twice a year to review the production of the annual report and accounts and interim statement and the appointment and remuneration of the auditors. It reviews the internal control memorandum and other findings of the audit with the external auditor.

Membership of the Committees is as follows:

Remuneration Committee
Gerald Malone (Chairman)
Richard trevillion

Audit Committee
Richard Trevillion (Chairman)
Gerald Malone

[l0wrdr] 16/3/2009 17:25

cos theyre a bunch of criminals. i think some action should be taken as they will keep doing this to people as long as they can. they need to be brought to a stop and held accountable for the lives they have ruined. sounds like a good thing to get into if you can though lol, paying yourself loads of cash for running a company into the ground!!

[dolphinj] 16/3/2009 17:13

Worth only £50k?




Then why were the directors worth payments of

Mike Boseley ceo £102k +17.2% increase
Christopher Whitehead gfd £92.0k +27.8% increase
Gerald Malone ch* £40.0k -7.69% decrease
Richard Trevillion * £25.0k for what?
Total £259k 2.79

[lynxboy] 16/3/2009 17:13

how can they recommend selling it for such a pittance compared to salaries?

[safman] 16/3/2009 17:03

"The Centrom Board and the Maymask Board are pleased to
announce that they have reached agreement on the terms of a
recommended cash offer to be made by Maymask for the entire
issued and to be issued share capital of Centrom."

hmm.. pathetically poor offer, looking at the share capital, it looks like they may have a little trouble getting the valid acceptances.... but not too sure on that..

i reckon, it may be best to hold on, and vote no, rather than selling @ these levels..

Not a holder, but having a look how many companies are literally taking investors and institutions for a ride, taking investments when required ...

its also the half decent companies that are deciding to delist, whose directors have a controlling stake.. and some institutions having a requirement to sell, not holding shares in a private company..

private investors are bearing the brunt of this, and AIM rule 41..

saffy..

[dolphinj] 16/3/2009 16:54

"The CEO and FD know the Maymask venture personally through Capex Health"
#
I wonder if they also know the other Meldex/health people--worth a search and dig around in the muck?

You can tell a man who boozes
by the company he chooses

You can tell a man who lies
by the company he sells/buys

[the_doctor] 16/3/2009 16:32

"The CEO and FD know theMymask venture personally through Capex Health"

Surprise surprise

It is sad that voting no may result in the few innocent workers losing their jobs, no?

Or if it went into liquidation, Maymask could still buy it that way and keep it going?

[gordo1] 16/3/2009 16:29

I thin the relevant thing is that Mark Venables will still be paid by the new company I expect he will get options. The CEO and FD know theMymask venture personally through Capex Health so they retain there jobs.

They will re-finance quietly and then get some options and retain there customers. This is a very badly run business so why should they keep there jobs this company had a market cap 2 years ago of £ 3 M now worth £ 50 K

[2magpies] 16/3/2009 16:23

gordo1

I agree with you. But as for delisting? Why are Maymask buying before the delisting? I would suggest that there won't be a delisitng, and that CET will become a listed vehicle of sorts for them. They could have waited and bought for a handshake. But they haven't.

I reckon they will get 50%+ but not 90% (gordo, you alone own nearly 5% !!)


IMO

[garykc] 16/3/2009 16:21

Count me in as a no too. Only have c300k shares but I don't mind losing the lot now!!!!

[5piggs] 16/3/2009 16:19

There is a number of people on iii that are voting against this as well. If there is enough pi, there plans are scuppered. I am not selling. It wouldn't be worth the effort. I have instructed my broker to Vote NO.

[jumpin] 16/3/2009 16:19

TLFBT got far more in salary than has been offered for the company, hmmm now that does not surprise me one bit.. he is very good at lining his own pockets at the expense of shareholders

[iroquoi] 16/3/2009 16:10

No way I'm giving them my shares. Good on you gordo1.

[gordo1] 16/3/2009 16:03

I own 10 Million of these shares. A representative of the comapny called me this morning to ask my view. I get the impression they are de-listing but all the jobs are safe so I guess they have financing lined up if in a cashflow position.

So my opinion for what its worth is why should the current directors keep there jobs therefore I will be voting against. I recommend other people do the same.

[the_doctor] 16/3/2009 16:03

'Why should people sell?'

Because they've indicated that not doing so = bust = nothing

Another cleverly organised operation to channel money into the pockets of Malone, RT and most likely, also their mates.

[2magpies] 16/3/2009 15:51

I doubt if they will get 90% acceptance, in which case they cannot compulsorily purchase shares. No point in delisting, as Maymask is unlisted anyway. I guess the whole point of the takeover (chuckle!) is to get a listing for £50k.

The bottom line? Why should people sell?

Any proceeds will be a row of (very small) beans.

IMO

[bw123] 16/3/2009 13:26

the_doctor, I did wonder if it was shorts closing as I've been quoted consistently higher to buy all morning online compared to what was going through on screen.

[bw123] 16/3/2009 13:16

What is going on....SP now up on this mornings opening?

[matto] 16/3/2009 13:01

I presume Centrom would become part of the group of companies comprising

Secure Affiliates plc
Capex Group
GGR Peters & Associates
Worldmark Corporation Limited
CHIPS Management
Capex Health Ltd

which are in similar IT businesses.

[matto] 16/3/2009 12:13

There seem to be 18 different Maymask companies all based around Newcastle. This offer relates to Maymask (15) Ltd.