Connaught Share Discussion Threads

[the jock] 08/9/2010 10:39

thanks to all that offered to sell/or in the process of selling cnt shares to me I now have my quota thanks.ps sarah I have emailed you back!!

[mcarpenter] 08/9/2010 10:24

Just a note of caution. The way Connaught expanded was simple, they bought contracts, that means that they were not even able to cover thier operating costs, let alone overheads. In that situation the administrator may not be able to offload thos contracts which were bought.

In some cases, contracts were acquired as a result of acquisition - eg AE Williams, these contracts are more likely to be profitable, but run for a smaller period, and therfore be of less interest to those circling above the Connaught corpse.

The administrator will have to quickly determine what is profitable and what is not, and once that is determined will cease trading all non profitable contracts. The exceptions may be where other contractors who provide services to council or housing association are simply able to scale up the operation without a corresponding increase in overheads.

I worked for a sub contractor that handed work back to Connaught last year, as after 6 weeks we determined that you could not make any money out of it. This was on one of the largest contracts Connaught had. The bottom line is that the company was mis-managed, Governnment cuts had nothing to do with it. Accounting policies were poor, and they had a tciking bomb. Profit was not being converted to cash, and I bet the balance sheet is burdend with bid costs, and phase in costs, all in the pursuit of short term profit to maximise option values.

For these guys to blame the demise of Connaught on Governement cuts is laughable, they knew what they were doing, it was the old pyramid scam, slightly more complex and more elegant - but just as flawed. It's the Operatives I feel sorry for, hard working and in the main interested in doing a great job. The management team - who knows what they were thinking - apart from how to make the profits look great so they could have a fat old bonus.

[ellemaitch] 08/9/2010 10:24

This was never rocket science . IN the accounts Aug 09 , the business showed net assets of 167.5m of which 215.3m was goodwill/intangibles - strip these out and the company was net debt of 47.8 BEFORE they lost the government contracts !!! All the info was there for you to see !!

[7he colonel] 08/9/2010 10:23

0verzeal - 8 Sep'10 - 10:01 - 4980 of 4982
7he Colonel,
Look at some porn.
If there is no movement then it probably is your computer.

Thanks for your kind considerate words of wisdom but i am under strict orders from my gp regarding my high blood pressure to abstain from anything that could cause a sudden rush of blood to my ticker or any other region. My good lady sends her regards, she is playing with her cnt (share cert) as i type.

[tradermania] 08/9/2010 10:09

Connaught will simply be sold out and continue again with no debt.

[numbercruncher2] 08/9/2010 10:05

bp - hindsight is a wonderful thing. Today is a new day! I knew the risks, was just a bit p1ssed yesterday/last night, made enough in the past to be happy with

[0verzeal] 08/9/2010 10:01

7he Colonel,
Look at some porn.
If there is no movement then it probably is your computer.

[7he colonel] 08/9/2010 09:47

Please can somebody help, i'm 85, i have been staring at my zx spectrum for nigh on 2 days and the share price has not moved, i don't know what to make of this, please help, do i need to go to spec savers or is my zx screen frozen, it's not the latest model and i'm not the most tech knowledgeable.

LadyBoyBLAP - 8 Sep'10 - 09:28 - 4976 of 4978
My broker has just told me they are in Administration.
Are other people aware of this?

What do you mean administration? Do you mean they are(broker) in the office having tea and jammy dodgers, extended tea break etc.
Thanks in advance of a reply.

[bubble pricker] 08/9/2010 09:32

NumberCruncher2, your post 4930: if you put a sum that you cannot afford to lose as a "punt" in a company that may turn around or go bust, then indeed you should bot be an "investor". By the way, what you did has nothing to do with investing.

[hvs] 08/9/2010 09:30

Nah they is all at the funeral.

Looks like PWC and The Board of so called ex "Directors" will not be attending.

Royal Bank of Scotland as usual will be sending a leading lending team that
gave an extra £ 15 mill of tax payers funds.

[ladyboyblap] 08/9/2010 09:28

My broker has just told me they are in Administration.
Are other people aware of this?

[the jock] 08/9/2010 09:24

Will email you back john but yes that price acceptable

[wenlynn] 08/9/2010 09:24

Smith,
With your small holding just right them off.

If you have any questions about private trading contact Simon Cawkwell (aka Evel Knievel).
He's helpful and knowledgable.

[smith99] 08/9/2010 09:19

again, apologies but how would you trade them privately when for example I dont hold any share certificates, mereley they are listed electronically with my execution company.

[diku] 08/9/2010 09:18

I did not realise it was in the name!..Connaught = Company Nought (Co Nought)!!...

[numbercruncher2] 08/9/2010 09:14

LOL - Anyone want mine!

[the jock] 08/9/2010 09:14

Propane... cnt are not bankrupt so that scenario does not hold

[the jock] 08/9/2010 09:12

They are suspended on the LSE but can be traded privately

[numbercruncher2] 08/9/2010 09:09

How can you possibly buy these shares back, they are suspended and hence unable to be traded - are you all taking the p1ss !!

[wenlynn] 08/9/2010 09:06

Smith,
In answer to your question about Shorts - grey markets, official and unofficial, are created which matches Shorters and Longers.

[numbercruncher2] 08/9/2010 09:06

Well I have 70,000 if anyone wants them LOL

[smith99] 08/9/2010 09:01

I have actually got 1200 of them which I dont know what to do with. Without wanting to invite rude comments - lol , can anyone suggest what I do with them, or do I just cross them off my list and forget about them. Thanks again

[the jock] 08/9/2010 08:43

I may be intrested in buying any cnt shares that are for sale in large single amounts 75k+ please send offers to [e-mail]