Connaught Share Discussion Threads

[hvs] 12/9/2010 14:20

Hi BLAP

CNT cannot be made up if it was not for real.

Yet another DUSTBIN SHOW pushed by CITY BOYS to the hilt and then goes KAPUT.

Nortern ROACK and HBOS were the other two.

NICE IF U IS ACITY boy.

Cuse its all OTHER PEOPLES MONEY.

Nice BONUS and all.

[ladyboyblap] 12/9/2010 14:08

hvs,
What a COMIC !

[hvs] 12/9/2010 12:48

Thought this was a CNT thread NOT CMC.

The Board of Directors done well here.

[kibes] 12/9/2010 10:13

smurfy2001 - that is what CMC said to me. But did they actually do it? I would be very interested to know if anyone can confirm they had a long position closed at 16.65p. It would throw a whole new light on spreadbetting if I could take a long position on a dodgy company (eg like Jarvis and Woolworths) and then lose nothing when it goes bust. That is the sort of one way bet I would like.

[hvs] 12/9/2010 09:52

Its about time Board of Directors of a PLC were brought to book.

Its all a nice cosy club with closed doors.

Directors of public companies must be made to come clean at the earliest opportunity. NOT HIDE BEHIND CLOSED DOORS UNTIL ITS TERMINAL.

[fishermans friend] 12/9/2010 09:38

The board of Connaught (LSE: CNT.L - news) is to face a series of investigations as a result of the company's move into administration earlier this week.

The Sunday Telegraph understands that the Department of Business is exploring the setting up of an inquiry into the conduct of the company's directors ahead of its collapse.

In addition, it is understood that the Financial Reporting Review Panel part of the Financial Reporting Council has stepped up its monitoring of the situation in recent days.

Administrators KPMG will also shortly begin an investigation of the conduct of the directors at the two subsidiary companies also placed into administration.

The Financial Services Authority is already looking into share sales made by certain directors ahead of earlier profits warnings.

Meanwhile, it is understood that KPMG will tomorrow announce that it will re-allocate Connaught's deal with Norwich City Council to carry out environmental work to Connaught's environmental division, which is still trading, safeguarding 200 jobs.

A further 300 jobs will be safeguarded in an interim deal on the £125m, five-year contract with Norwich.

Connaught puts its parent company and troubled social housing maintenance business into administration on Wednesday after failing to find the funding it needed. The business had 4,400 staff.

So far, the administrators have sold part of the social housing unit's assets and contracts to rivals Morgan Sindall (LSE: MGNS.L - news) and Mears, saving around 3,500 jobs. It also announced 700 redundancies.

The group's ground maintenance business, Connaught Environmental, and health and safety advice unit, Connaught Compliance, are not in administration. These businesses, which employ 4,500 between them, are continuing to trade.

[smurfy2001] 11/9/2010 21:12

kibes, if it was closed at 16.65 with a long position, count whoever lucky. I know IG customers has their long CFD's closed at 0p when CTT suspensed their shares.

[ladyboyblap] 11/9/2010 14:59

I've noticed Connaugnt have sold the rest of their Assets.
That'll result in an increased Dividend (from 1.0p to 1.5p) after the Suspension has been lifted.

This is my Opinion only (no Advice intended).

[kibes] 11/9/2010 13:32

Just to clarify, I sent an e-mail to CMC. They say both shorts and longs were closed out at 16.65p. Obviously this is good news to anyone who had a long position with CMC when it was suspended.

[kibes] 11/9/2010 11:21

Just looked at CMC's business terms as I have an account with them. It appears that a suspension can be deemed to be an act of Force Majeure in which case CMC is entitled to close out positions at whatever price they see fit. In this case I imagine that would be 16.65p for the shorts and 0p for the longs. Not encouraging. Why would anyone want to open a short on any stock in that case?

On the other hand IG Index will make a 'reasonable assessment of the market value of the instrument following suspension' before closing any positions. Sounds better to me, but it depends how reasonable their assessment is of course.

[sh0wmethemoney] 11/9/2010 10:58

had mylong at 18 closed with IG , only small holding,,,,,,,so onwards and upwards from here

[the_doctor] 10/9/2010 22:35

'Great News on the Sale of Assets.
I expect the Suspension will be dropped later today.

30p here we come.'

er, I dont think so!

[hvs] 10/9/2010 19:20

lol !!!!

Am sure they is best mates with anal ysts and the auditors as well as its lenders.

Best to keep it all nicely wrapped up and within THE CLUB. That way BONUSES are
all quickly and quietly approved for the wonderful performance.

After all its only shareholders money, lets PARTY.

Hope you get your divi from CNT soon.

[ladyboyblap] 10/9/2010 18:37

hvs,
I have a large holding in EGO.
The Director's Bonuses can be seen from Outer Space !!

It's called being successful.

[hvs] 10/9/2010 15:21

Wenlynn

You seem to have a very big EGO.

One of these days u will get your come uppance.

[wenlynn] 10/9/2010 13:41

From the TAN thread :-

hvs - 10 Sep'10 - 13:39 - 75512 of 75512
Exactly.
Its OTHER PEOPLES MONEY for the FOLKS in THE CITY.
BONUSES all ROUND on TOP OF INFLATED SALARIES.

[defcon4] 10/9/2010 13:09

What is MONEY the CODE forso i can short it? Are you long of MONEY or is it code for no money left/shafted?

[wenlynn] 10/9/2010 12:58

trader,
It's the EPIC CODE for Connaught.

[hvs] 10/9/2010 12:58

Yeah on shareholders MONEY.