Eurodis Elect. Share Discussion Threads

[john henry] 14/7/2005 21:53

Already discounted.

[fusebox] 14/7/2005 21:49

FWY...low valuation for a reason...low margin therefore if turnover drops profits evaporate.

[john henry] 14/7/2005 21:47

Hi Ed the best lesson to becoming a successful trader/ investor is to lose big at some point, It sharpens your edge. Every trader will suffer big loses. A little tip on how i rebuilt.Studied technicals Opened a spread betting account, made little bets (using chart knowledge).When i made 10-25% profit took it and revested. Have never looked back. And i was down to a couple of grand and that was on credit.

Good luck Stephen.

A good medium term low risk share would be FWY ( undervalued with very little downside).

[fusebox] 14/7/2005 20:49

I have been there ED and know how you feel.

Best wishes ...take a bit of time out have a good rest. If things change visit me on EKT and if you need me in future i shall be around.

[ed winchester] 14/7/2005 20:46

fusebox, thanks for the offer mate. But I really have given up on the share trading/investment business. I am giving it a very very long break. thanks once again.

[clarendon] 14/7/2005 20:43

If you convert the balance sheet to an estimated statement of affairs you get something like:-

Net assets 18.6
Goodwill write off -2.3
Write down in tangibles -6.5 (to realisable value)
Write down in stock -14.0 (to realisable value)
Write down in debtors -5.9 (to cover bad debts etc)
-10.1
Preference shares -14.8
Leaves Ordinary shares -24.9

Not a pretty picture.

Only hope is someone comes in and picks it up on the cheap. But will probably wait for administartion to break pension liabilities

[fusebox] 14/7/2005 20:43

Ed do you want to leave your email...you have been decent and i have good info !

[ed winchester] 14/7/2005 20:40

fusebox

just had a look at Jasmin. And as kiwihope (and one or two others) pointed out, the few words that meant today's announcement was coming if talks failed.... as was with Jasmin.

have read of Jasmin's RNS :



6 words that in there that eurodis stated. I can see now that phrase has a specific meaning and conveys an ominous message.

[momentos] 14/7/2005 20:26

PRO FORMA GROUP BALANCE SHEET IN STERLING (m)
(Unaudited)
as at 31 March 2005

Fixed assets

Intangible assets: Goodwill 2.3
Tangible assets 21.5
Investments 0.1

23.9

Current assets

Stocks 34.0
Debtors 45.9
Cash at bank and in hand 3.0

82.9

Creditors - Amounts falling due within one year

Finance debt (24.6)
Other creditors (39.3)

(63.9)

Net current assets 19.0

Total assets less current liabilities 42.9

Creditors - Amounts falling due after more than one year

Finance debt (15.1)
Provision for liabilities and charges (1.4)

Net assets excluding pension liabilities 26.4

Pension liabilities (7.8)

Net assets 18.6

Capital and reserves

Called up share capital 22.8
Share premium account 101.4
Share capital redemption reserve 15.1
Unpaid preference dividends 1.9

Reserve for own shares (0.4)

Profit and loss account (122.2)

Shareholders' funds* 18.6

* Shareholders' funds are represented by:

Equity interests 3.4
Non-equity interests 15.2

[fusebox] 14/7/2005 20:07

sorry i moved on before i checked and have eddited now. Dont know what happened there.

[momentos] 14/7/2005 19:59

Fuse, you seem to have copied a bit too much on that last post, could you edit!

edit - thanks!

[fusebox] 14/7/2005 19:57

Chateau Margeaux 61 - 14 Jul'05 - 19:53 - 8779 of 8781


The misguided ones were the ones who kept buying ELH as it fell.

...

Give it a rest haystack enough is enough!

[momentos] 14/7/2005 19:56

There was no uber-hype here, maybe uber-hope. Todays news is far from completely unexpected.

[fusebox] 14/7/2005 19:54

chainsaw...new loan unlikely i have seen this situation arise a number of times. If its any consolation ED i held Jasmin just over a year ago and that went bust Chairman lied through his teeth there.. I held quite a few but life has to go on.

Its a matter of being careful and making as certain as possible that the fundamentals are in good shape when you re invest.

Its a learning curve.

Been doing the market over 20 years so when Jasmin went under i had had vast experience before that and carried on regardless. Lost 17k in Jasmin and made 90k in TFC.

Keep focused and put it down to experience. Avoid overhyped shares and risky investments.

[shirishg] 14/7/2005 19:53

Post removed by ADVFN

[momentos] 14/7/2005 19:52

Haystack, take your sad life out of here. You will soon receive an injunction from ADVFN for your continuous disruption of their site. The sooner the better.

You are clearly a few bales short of a full stack, man of straw.

[shirishg] 14/7/2005 19:48

Post removed by ADVFN

[ed winchester] 14/7/2005 19:46

the thing is one cant pick up the pieces with a company like eurodis if it was to go under. suppliers would just end their agreements and that's it. eurodis as a company is its franchises.

the only thing of worth as a tangible asset is the distribution center but afraid to say that is mortgage against an overdraft.

the only hope is that directors find alternative financing arrangements, but I am not holding my breath. if it happens it will be a pleasant surprise.

I am just accepting that its all over, certainly for us shareholders.

[c1ty whispers] 14/7/2005 19:44

"Our lead finance provider has decided to reduce facilities to a level that the
Board believes makes the ongoing business unsustainable."

Sounds like a game of hardball to me.The withdrawal of thier biggest financer could be a ploy to drive the share price lower so as the company can be snapped up even cheaper....

Suspending the shares is a the best counter move whilst they try to come up with a solution or more to the point.....a white knight.

Not great news i admit but it isn,t final.............yet.

although a fire sale is highly likely...Atleast let them review thier options before we wright it off....

It aint over till the fat lady sings.

[momentos] 14/7/2005 19:38

Looks very like a Rover situation to me...

Quick administration and an attempt to sell as an ongoing concern. An administrator has to try to get the best price.

If the company is broken up the tax credits evaporate. The intangibles are fairly worthless.

Can't see much left for equity shareholders.

[knowing] 14/7/2005 19:31

Dyfiman,

One possible scenario is that the Philips issue affected sales far greater than expected. Maybe the bidder was advised to pass on it and pick it up in a fire sale !!

[very quick] 14/7/2005 19:30

Now we know why they wanted to get out at any cost and dumped 14 million last week they knew long before the rest of us???