Colliers Intl Share Discussion Threads

[cockneyrebel] 01/10/2009 16:35

TIDMCOL

RNS Number : 1051A
Colliers CRE PLC
01 October 2009

?
1 October 2009




COLLIERS CRE PLC
("Colliers CRE" or "the Group")


STATEMENT RE: RE-FINANCING


The Board of Colliers CRE is pleased to announce that it has reached agreement
in principle on the terms of the proposed re-financing of the Company, including
agreement on the terms of a new three year banking facility and a substantial
equity investment by FirstService Real Estate Advisors, a subsidiary of
FirstService Corporation ("FirstService") (NASDAQ: FSRV; TSX: FSV and FSV.PR.U)
as part of a wider institutional placing.


FirstService Corporation is a global diversified leader in the rapidly growing
real estate services industry with annualized revenues of more than US$ 1.8
billion. FirstService is the fourth largest commercial real estate services firm
in the world and the largest member of Colliers International, with operations
in 37 countries.


A further announcement will be made in due course.




For further information, please contact:




Simon Hudson Tavistock Communications 020 7920 3150
Jeremy Carey


Tim Linacre Panmure Gordon 020 7459 3600



This information is provided by RNS
The company news service from the London Stock Exchange
END

[maak128] 30/9/2009 12:09

just logged on.......... wtf?

another stock where small pis get shafted........

[kfp] 30/9/2009 09:47

scburbs
I see what you mean,we have no choice but to wait and hope we don't get diluted too much.

[scburbs] 30/9/2009 09:38

kfp, No. I meant, for example, if the company was pushing for a offering at 30p and the subscribers wanted to subscribe at 15p.

Pugugly, wasn't thinking of them, but it looks like the sort of situation I am referring to.

[pugugly] 30/9/2009 08:06

scburbs:> Do you mean on Cosalt ?

[kfp] 30/9/2009 07:59

scburbs
Do you mean a higher price than the current (last) share price ?
You can't be serious !

[scburbs] 30/9/2009 07:43

kfp, Quite possibly, but if it is a placing (without a full open offer) would he be pushing for a higher or a lower price?

A potential conflict of interest there. I recall seeing Directors do this on another share recently, can't remember which one.

[kfp] 30/9/2009 07:40

John Ritblat will take up any shares I would think,he sold shed loads at around 2 quid didn't he ?

[scburbs] 30/9/2009 07:35

LOL! I really must pay more attention I keep missing these little details!

[cockneyrebel] 30/9/2009 07:22

you may have missed a two year financial crisis scburbs but money isn't that easy to raise.

CR

[scburbs] 30/9/2009 07:14

If they were always going to be strapped for cash (which I agree with) then surely you must also conclude it is amateurish or whatever term you want to use? The fact they were always going to be strapped for cash means they should have dealt with it before the deadline.

However, if the result of the delay is an equity raise at 40+p then I will retract my comment!

[mathisvale] 30/9/2009 07:11

amateurish - no, I don't think so. They were always going to be strapped for cash in this economic environment, and I would rather have a rights issue at 40p than 10p.

The half year results are due now, but they cannot issue them without mentioning any fund raising, which cannot be done while it is still being negotiated.

What bothers me is :-
1. How much are they going for
2. How dilutive will it be
3. Will we get a chance to participate
4. What form will it take, ie ord shares or pref shares

[scburbs] 30/9/2009 06:51

Looks rather amateurish. Sounds like interims may be even more dire than expected (and they are expected to be pretty dire!) and they don't want the share price to crash before they get the equity raise and refinancing away.

"The Company is currently in the closing stages of conducting a substantial re-financing, including an equity fundraising. The Company is not in a position to release its half year results to 30 June 2009 pending conclusion of the re-financing."

[cockneyrebel] 30/9/2009 06:49

possibly, or have they missed the deadline on the resuts? Timelimit changed on AIM recently.

We'll see.

CR

[mathisvale] 30/9/2009 06:21

It looks like we are facing a placing/rights issue.

[cockneyrebel] 20/9/2009 09:45

Seems to be more deals being announced here and there imo.

CR

[cockneyrebel] 17/9/2009 12:07

MM's caught out imo - did you see them scrabling about on the bid and offer?

A large buy gone in imo.

CR

[scburbs] 17/9/2009 12:05

That's more like it!

[cockneyrebel] 17/9/2009 11:18

breaking out

CR

[cockneyrebel] 17/9/2009 11:07

Nice timing Mathisvale :-)

CR

[cockneyrebel] 17/9/2009 10:04

Yep, just had another 5K myself - DTZ AGM statement out - sounds like the UK is doing better than most places :-)

CR

[mathisvale] 17/9/2009 09:59

CR - I fancy these to do well over the next 2 - 3 years, but rather slowly, sort of simmering gently in the background

Have just topped up with another 10K.

[scburbs] 17/9/2009 09:43

Wakey wakey COL, don't forget you are part of the real estate sector too! I added a few more yesterday.

[cockneyrebel] 13/9/2009 10:05

Results at the end of the month - the fwd outlook will be key as they've already said H1 was dire. They've said trading has been much stronger recently so it's going to be interesting to hear what they say.

Fancy these to do rather well over the next year.

CR