Eurodis Elect. Share Discussion Threads

[sore loser] 21/7/2005 15:55

Try Hastings... Its one long holiday. At least you'll get away from the ghouls.

Still in CCO :-) and PRO. Sold half of PRO to pay for ELH :-(

Only a few £K though (ONLY!!! ... I can ill afford it!)

I know this is nowhere near what some have lost here...

Just going to check my lottery. If I'm a winner I will invite chiansaw to post his mail address and I will make good his bad luck.

We deserved better

[momentos] 21/7/2005 15:28

I've heard Reigate is nice this time of year...

[galleon] 21/7/2005 15:16

..or up north...try mill.wall ! lol
still a touch of hope..just a touch....

[edward3] 21/7/2005 12:37

lol..........could'nt afford the petrol at the moment...so more like ourgate

[momentos] 21/7/2005 12:28

Bognor this year then?

[edward3] 21/7/2005 12:18

Well told my better half her reply was

"only one thing to say........you will never learn!!!!

Anyway, enough of that....."

Then moved on to talking about a holiday......if she only knew the full extent ....

[momentos] 21/7/2005 10:19

Cheese Moon PLC - EPIC WNL (We Never Landed).

Has cash of 6m following recent fund raising. Market Cap 600m. First segments to be explored when someone work out how to pull the red bit of plastic without it breaking.

Be careful though, there are concerns about the company as Directors Fuzzy Dish and Katie Spoon are currently untraceable. And there are rumours of the finance director, Greg Catt being on the fiddle.

[chiansaw] 21/7/2005 10:04

Cheese Moon plc....sounds good to me....whats the NAV and when is the first cheese expected back on Earth. Sounds like the company I backed that was making chocolate products on Mars.

Just found out that Yellow Snow has been amalgamated with 'Total Lemon Original Slushpuppy Synergies' (Epic TOTALLOSS) and that all is not lost. Wanted more cash from the PIs....even provided a prepaid envelope for the chequ return. How efficient is that.

[momentos] 21/7/2005 09:41

"Out of context"? lol!

I suppose you can say the moon is made of cheese then claim it is quoted out of context! My opinion on the technicalities of how this plays out has not moved.
Apart from partial clarification on the tax position kindly given by Clarendon.

We will see how it has played out soon anyway, I would expect some news by close tomorrow, on whether the shop is being shut or trading continued.

[nonlottie] 21/7/2005 09:26

Momentos

Why don't you consider the posts from 9015........................

and not one out of context........

this of course would not lead you to the conclusion you come to........

.........that of course may not interest you...

.........and so I won't bother repeating them for you......

especially since it's all irrelevant now as you seem to be on the right wavelength..............

time is a good healer and I'm pleased to see that you're now a lot better and nearer to your pre administration self

[clarendon] 21/7/2005 09:12

Momentos

Tax lossses normally remain with the company that incurred them (although without looking at each individual company's accounts it would be difficult to be certain where they actually lie - due to group relief provisions etc) so in this case I would suspect that the losses will be with the subsidiary companies. Therefore any value realised from the lossses will be in the sale of the shares in the subsids. Tax losses can only be set against future profits from the same trade

[momentos] 21/7/2005 08:55

Kiwi, I wasn't really suggesting they were in trouble. Just that they were perhaps a more attractive acquisition prospect than the bones of Eurodis, at perhaps a slightly reduced price due to the recent warning. Sorry if it seemed otherwise.

nonlottie. Clueless. You are the one who at one point suggested the administrators would be selling the shares in Eurodis:

"nonlottie - 18 Jul'05 - 08:46 - 9022 of 9209

The 1p is just an illustration of the lowest price. Don't know the book value but that's meaningless now. Once the shares are sold even for1p the creditors are someone else's problem. "

Come back when you have stopped desparately scrabbling about to cover your lack of understanding. I only have a go at people posting useless rubbish on shares they don't own.

Chian, whats the EPIC for Yellow Snow? I heard a rumour Brown Log Ltd will be floating soon, due to a large discovery of gas.

[kiwihope] 21/7/2005 08:42

momentos,

feel I must correct you about abacus. I don't think they are in trouble. Their profits are going to be down 25% but they will still be profitable. They are a stable business with a good balance sheet. What their statement shows is that european electronics distribution is not a growth market and conditions are tough. The weak will fall (!!) and the strong will consolidate and buy up the failures. I am sure abacus will survive in one form or another. I have never owned their shares as they are too expensive for a speculative recovery stock and don't have enough growth prospects for a growth or value stock.

[nonlottie] 21/7/2005 08:41

when you wake up from you dream Chiansaw let me know whether you think you remembered to manage not to eat it.

[realcooltrader] 21/7/2005 08:36

lol Chain, glad to see you retain a sense of humour.

[chiansaw] 21/7/2005 08:11

Not happy - just bought shares in Yellow Snow Plc on nonlotties say/tip...and find they have gone into administration too after a particularly hot spell of weather. Pays ya money though.

[muxdapanza] 21/7/2005 08:02

As we pick over the pieces of the corpse and daydream about a bidding war I'd like to share with you another day dream.

Administrators do their job with reasonable efficiency allowing the Holding Company to remain solvent, maybe £50 quid in petty cash tin and £25 in a bank account.

We still have our listing and would become a cash shell.
A private company called Black Zambezi completes a reverse takeover and go in search of diamonds.......whoops just woke up.....oh well never mind

It was clearly dreaming that got us into this mess!

[momentos] 21/7/2005 07:38

Yawn.......

Re-read the thread. I have said from the outset this is a write off.

You are a prize idiot notalotuptoppie. Yet again you contribute nothing but drivel.

Come on, gis a tip notalotofbottle. Have you got a better one than the yellow snow one, that was sooooooooooo funny and, if I may say so, original...

[katie price] 21/7/2005 07:37

Where is CRT

lol

He has lost a lot of money here.. I hope he is ok

Katie

[nonlottie] 21/7/2005 07:33

Momentos.......

HOW MANY PEOPLE HAVE HAD TO TELL YOU >>>>>pleased it is now sinking in for you and you now .being remarkably civil....

sale as a going concern is the sale of a business that continues...........very rare creditors etc are taken over...this is what kahn etc mean when they list sale as as a going concern. ........................REASONS WHY explained and shouted down many posts ago

SALES of the legal entity in Kahn's list will be mininimal or even non existent.............if you don't believe why don't you ask him

HOORAY EUREKA WELL DONE

[momentos] 20/7/2005 20:38

Who carries the tax losses though? If its the parent then someone may well want that.

The dutch articles I posted yesterday said lots of interest in Eurodis Texem. Yes, I did clock the important difference: Eurodis Texem is the Dutch operation employing 150 with a state of the art distribution centre. To me the interest in Eurodis Texem didn't mean interest in Eurodis as a whole!

Luckily our shares are fully paid so the less than zero is not quite so worrying...

Not much to debate, not much of financial interest but I still want to watch how it plays out.

[clarendon] 20/7/2005 19:59

It is the holding company that is in Administration - I understand that all other companies continue to trade outside the Administartion (but are effectively under the control of the Administrators). Therefore the Administrators will be looking to sell the shares in the subsidiary companies not the constituant parts of each company. The accounts you are looking at are the group consolidated accounts (all of the individual companies balance sheets added together). You need to establish what the individual companies are worth and compare that with the carrying value in the parent companies balance sheet, then deduct the parent companies creditors to arrive at what will be left for the shareholders of the parent company (ie us).

As regards the number of bidders just look at the MG Rover situation, loads of interested parties initially but down to 3 bidders bidding between 40m - 60m against debts of £1.6 billion

I think the chances of getting anything back is less than zero!

[shirishg] 20/7/2005 19:46

Post removed by ADVFN

[momentos] 20/7/2005 19:34

So assets about 100m. I think they use factoring so the trade debts should be largely recoverable. Half the value of the stock, say. The distribution centre (fixed asset) could realise most of its value. So get to about 80m.

39.7m to finance.
39.3m to other creditors say 80m.

+ 10m other bits = 90m.

Pref holders get the first 15m left if any.

Gap to close for equity shareholders to get anything: 25m

Agree the chances are pretty much zero...

Potential tax credits of 36m not included

(edited, missed off the fixed assets)