Connaught Share Discussion Threads

[ellemaitch] 07/9/2010 05:23

I do hope they pick my commercial waste up in the morning ! :-) EK did state yesterday , Free money shorting this one down to 10p .... i think we will have a little further to go dooooooowwwwwwwwwwwnnnnnnnnnnn in the morning !

[jumpin_jackflasher] 07/9/2010 04:12

that would spell PESTON

[scarymonster] 07/9/2010 04:11

It's not good.

They need to add a U to the epic.

[wenlynn] 07/9/2010 02:43

Inevitable.

[smurfy2001] 07/9/2010 01:00

Oh dear, hope people managed to dump their shares after that little rise...

[e164] 07/9/2010 00:31

Connaught to go into administration
Robert Peston | 23:27 UK time, Monday, 6 September 2010

Connaught, the property services group that specialises in social housing, is on the brink of going into administration, according to bankers close to the company.

An announcement is expected tomorrow, I have learned.

Connaught, which employs 10,000 people, has £220m of debt, provided by half a dozen banks and a quartet of other creditors.

The lead bank is Royal Bank of Scotland, which recently provided Connaught with a further £15m in an attempt to keep the group going.

Connaught ran into serious difficulties over the past couple of months, after it emerged that a series of contracts would be lossmaking.

The management, under a new chairman, Sir Roy Gardner, the chairmen of Compass, the catering giant, has tried to put together a rescue plan.

However its bank creditors have decided instead to put the business in administration, under UK insolvency procedures.

In spite of the severity of the economic crisis that engulfed the UK in 2008, few listed businesses have collapsed. In that sense, Connaught, a FTSE 250 company which at one stage had a market value of well over £500m, is unusual.

[fishermans friend] 06/9/2010 20:52

the jock - what was used as security or was this unsecured lending ?

[antic177] 06/9/2010 19:56

source please jock?

[the jock] 06/9/2010 19:53

Whats going on here are you people silly or just not smart.RBS refused this months money and they had to borrow overseas at a massive penalty

[hvs] 06/9/2010 19:31

Anyone know what Roy and HIS TEAM are being paid ?

[cfc1] 06/9/2010 13:19

fishermans friend...we'll see. But a few weeks ago I posted that if things were not going well we would know soon enough. I sense a massive amount of work going on behind the scenes. If the lenders took up a serious amount of shares at these levels and there is no major DE then we will be very happy by the end of Sept.....!

[fishermans friend] 06/9/2010 11:03

cfc1 - totally agree - as one relationship Director of RBS told me, RBS lend to people. I am sure Sir Roy and team will be doing their very best to turn things around. Another plus point is the fact that Sir Roy has put up 'hurt' money and that it is in his best interests to restore shareholder value.

[cfc1] 06/9/2010 10:51

The longer this goes on with no negative news the more confident i feel. There must be a massive amount of work going into presentations to lending consortia....posted stuff on that previously. The absolute key thing is Sir Roy and his new mgmt team inherited this mess. They have a track record of turning things round. and the lenders know that. RBS were in the same mess and appointed the right CEO to get the bank back in shape....exactly the same at CNT!

[cfc1] 06/9/2010 10:51

The longer this goes on with no negative news the more confident i feel. There must be a massive amount of work going into presentations to lending consortia....posted stuff on that previously. The absolute key thing is Sir Roy and his new mgmt team inherited this mess. They have a track record of turning things round. and the lenders know that. RBS were in the same mess and appointed the right CEO to get the bank back in shape....exactly the same at CNT!

[fishermans friend] 06/9/2010 10:47

The smart money would have been on shorting this share when £ 3 +, not now. My filter button has been working overtime on this BB of late. A bit of good news here and the shorters, if there are any serious ones left, will be badly burned.

[dorset64] 06/9/2010 10:37

Girls, why do you lot bother. Do you really believe your own hype that you can get people to sell because you, with multi alias' post to oneself all the time. Pathetic.

Friday seen pi's sell as they did not wish to hold over the w/end just in case any bad news/press was released. Today they are buying back in for this weeks ride, simples.

There are in fact only a couple of de-rampers posting on this board, with all the others 'names' that agree with them being the very same sad, lonely person.

[argylerich] 06/9/2010 10:06

Volume up again today, big buyers emerging, good luck to those still short on this ;)

[48max] 06/9/2010 08:20

lol...the dreaded bells! aaarrrrghhh

[hvs] 06/9/2010 08:15

Let the bells toll.

[ny boy] 06/9/2010 07:53

ummm a pop at the open looks on the cards?

[dave_howard] 05/9/2010 22:43

Friend work for CNT, they held a meeting last week with staff and told everyone salaruy payment is no issue and they are close to "securing long term future". Not sure what this means as they were none commital on teh details except signs were very encouraging for a positive future...make of this as you will, just one data point from internal staff