Share Name Share Symbol Market Type Share ISIN Share Description
Ensor Holdings LSE:ESR London Ordinary Share GB0003186409 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 55.50p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 19.2 2.8 10.8 5.1 16.65

Ensor Share Discussion Threads

Showing 951 to 973 of 975 messages
Chat Pages: 39  38  37  36  35  34  33  32  31  30  29  28  Older
DateSubjectAuthorDiscuss
12/10/2017
13:54
All too true dangersimpson, a lesson learned for me. Anyone have any news on the timing of the 7p?
tiswas
25/7/2017
14:07
Yeah I've penciled in another 7p ish but think it will be a long wait until the company is finally wound up. It was never a big position for me so is fairly inconsequential in reality. It is nice to get more than the c50p the market was offering after the delisting announcement though. The learning points have probably been worth the modest fee. Although it seemed unlikely that the voluntary sale & wind up of a company trading on a P/E of 7 could generate negative value that is what happened since: - Private company sales rarely generate a high multiple of earnings and often the focus is on book value over earnings. - The cost of professional fees from selling any business is going to be substantial. - If you want the money distributed in less than 6 years you have to pay substantial insurance costs. - If you want existing management to stay on during such a period of uncertainty you have to agree to pay them large amounts of money. Taken together it means I would avoid wind up situations in the future unless there was a large discount to cash & freehold property. I would value trading businesses to be sold at a substantial discount to net assets to reflect the fees & insurance due and ignore any earnings or cash flow in valuing them.
dangersimpson2
25/7/2017
13:47
We have had 53p, and the Statement of Affairs said a fraction over 60p...so a bit more to come. They owned some land that they were trying to sell, so that might be the major element of the balance now.
simso
25/7/2017
13:34
Anything else to come here or are we all done now?
fozzie
17/7/2017
16:26
Anyone been in touch with the liquidator about the balance?
tiswas
30/6/2017
09:50
Mine arrived today as well. No indication as to when and how much next/final distribution will be, as liquidation permits. But I guess anyone still reading this know that!
tiswas
30/6/2017
09:46
23p/share received this morning. Not got the fastest post here so I take it that everyone else has their cheque.
pavey ark
29/6/2017
08:42
Cheers simso, I have been hearing the same but not been given a value.
tiswas
29/6/2017
08:18
Hi Tiswas. Yet i spoke to the Liquidators this week, and think the next distribution it is imminent
simso
29/6/2017
08:16
anyone still here?
tiswas
15/5/2017
09:25
Anyone got a date and value for the next distribution? I am hearing that an insurance policy needs to be put in place first.
tiswas
19/4/2017
12:43
They really outed value for shareholders then. What has happened here is all very odd. I'm suspicious now that the financials released to the market were not accurate and when the directors discovered this they've tried to make the best out of a bad situation by selling everything. These were Chinese companies that were sold were they not?
kev0856153
19/4/2017
12:40
Many thanks dangersimpson2 It is quite difficult to believe such an unsuccessful process has gone right through to completion. Before the sales process started, operating as a mini-conglomerate, ESR was doing very nicely thank you.
shanklin
19/4/2017
12:32
60p total is mid-case with 30p already paid, 15-20p in next few months and the balance in 12 months or so.
dangersimpson2
19/4/2017
07:04
Well done everyone on bringing this to a conclusion, albeit a rather unsatisfactory one. I just reread ST's valuation of "at least 125p per share", it is in post 417 if anyone is interested. Looks like we will end up with less than half of that at a price that is lower than the share price before they commenced the strategic review to out value for shareholders nearly two years ago. Sigh!
tiswas
19/4/2017
06:10
What will the total payout be please? I sold in the latter part of September at an average of circa 70p when I became completely disenchanted with the sales process. Thank you, Martin
shanklin
18/4/2017
16:41
Just got off the conference call. Thanks to David for organising. This is the explanation for the variance shown in my previous post based on my notes from the meeting (E&OE): Ellards was sold for £3.1m premium to net assets excluding goodwill but the actual cash premium received was only £2.1m. The difference was due to professional fees related to the sale and an insurance policy that had to be purchased to allow the sale to complete. Woods was sold for £1.665m premium to net assets excluding goodwill but the actual premium received was only £1.2m. The difference was due to professional fees related to the sale. £100k was for an insurance policy required to indemnify the liquidators from future tax or other liabilities so that the liquidator would be prepared to release the funds within the 7 years HMRC deadline. £400k central overhead costs since September. £1.5m of termination payroll costs consisting of £100k tax, £700k non-discretionary payment and £700k discretionary payment to keep key staff during the wind down process. No Harrison family members received discretionary payment. Ellards and Woods traded profitably since September to offset some of these costs but no exact figure was given. Woods paid cash back to the parent company so that the net assets met the agreed sale net assets on the day of completion. In general I think these costs could have been better communicated by the company in their announcements - particularly the sale of Ellards and Woods where the premium to net assets of cash actually received was lower than the announcement due to significant fees. However now we know about these costs they explain the difference we see between September balance sheet, subsequent announcements and the solvency statement.
dangersimpson2
18/4/2017
08:19
Tiswas, Sorry to hear that. I'll try to keep you updated. I am now in the possession of further information regarding the balance sheet bridge from Sept 16 to March 17 and whilst I don't think I'm able to post it up on the bulletin board I can confirm as DangerSimpson suggested that the goodwill on Ellard and Woods balance sheet was written down, and along with fairly sizable disposal costs and significant ESR holding company bonuses the figures now do at least stack up.
cockerhoop
18/4/2017
07:52
It looks like I will be at the hospital this afternoon with a close relative and unlikely to be back in time for the CC. Good luck if it goes ahead. If someone would be good enough to post a summary, when convenient, it would be most appreciated.
tiswas
14/4/2017
11:00
As I posted before I could understand the argument for delisting the company but I could not understand the argument for changing the status of the company to private. That's when the alarm bells went off and I sold out. Shareholders rights are almost non-existent in a private company. The other thing I suggested was shareholders setting up a website to keep the spotlight on the company and the directors. Good luck here but these directors must be held 100% accountable. Keep the pressure on them and don't let up until they've made good!
kev0856153
13/4/2017
16:15
Has anyone asked for the pdf's and information that we are missing now the website has gone ? Ideally we should have all that available for the CC on Tuesday at 4.30pm If you want to join us please email me via my mellomeeting.co.uk site
davidosh
13/4/2017
16:08
I could see some of it going on HQ redundancy, onerous lease, lawyers fees for the transactions but I think there is at least £2m currently unaccounted for. They need to provide a detailed breakdown of where this has gone.
dangersimpson2
13/4/2017
15:07
The only other thing I could think of is a onerous lease payment on the HQ building though it's fairly modest in size. From memory I thought board costs were about £600,000 salaries per year so some bonus to lose £2-£3m! I imagine some of the intangibles would not have been written down and were transferred with the businesses on sale. Certainly questions to be answered.
cockerhoop
Chat Pages: 39  38  37  36  35  34  33  32  31  30  29  28  Older
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