Inveresk Share Discussion Threads

[zainab1] 19/8/2008 18:24

i have a horrible feeling about this company. They suspended shares nearly 2 months ago. Incidentally how long are they allowed to keep them suspended for? I really could do with selling mine with the credit crunch i need to invest in something more positive.

I am convinced they are just going to go into liquidation if they have been unable to re-finance after all this time, then in my opinion it is a very gloomy outlook for all concerned

[2fedup] 19/8/2008 17:45

I would say that they know what they are doing,they are probley hoping that the people that are being made redundant will find new jobs and just go and end up having to sacrifice there redundancies.
As you said T.O.R they are selfish and most definitely incompetent,they don't give a toss about anyone but there big fat wallet's.

[mjcrockett] 19/8/2008 17:43

I feel for anyone who has to lose their job, but the closure of the Inveresk sites is more to do with world economics and the state of the paper industry than anything the directors have done. Most mills in this country were closed years ago because they were not economic in the face of world-wide competition. It has happened to many traditional industries over the years.

JW - my normally reliable source tells me that a statement will be released in the next 2-3 weeks. I do not know what the statement will say.

MJ

[theoriginalred] 19/8/2008 17:16

It would seem to me that Inveresk is being run by a selfish bunch of incompetent directors who have no interest in either manufacturing or their shareholders and who only care about the value of the land that they are sitting on.

My informants tell me that not only have they not been able to refinance the Company yet but they have not been able to raise enough money to pay for the redundancies either.

As a result they are having to pay for employees to either sit around doing nothing or to stay home.

In addition those same loyal hard working employees had had only one pay rise in the last 7 years and last year productivity was higher than ever before through their sheer hard work and professional team working. Only to end up being kicked in the teeth !

[jonny wilkinson] 19/8/2008 13:31

mjcrockett - 11 Jul'08 - 19:08 - 983 of 985

Surprised no further official statements since original suspension, all very quiet

[tom.b] 18/8/2008 20:27

Hi,

I used to hold these shares and went to see the Caldwells mill site in 2005 because I was concerned at the time it was taking to dispose of the assetts back then.. I accidently bumped into one of their directors there who did nothing to assuage my fears so I sold my holding. I'm glad I did because the UK property slump and credit crunch will gobble these people up with nothing left for anyone - and it serves them right, they should have moved quicker when the market was favourable ...instead of trying to get a bigger piece of the cake for themselves. Tom.B

[zainab1] 11/7/2008 17:18

Forgive me if i am being thick, i know that they published their interim results with £6 million debt, but where did you find out that the land assets were worth £25m? If this value was at the same time as the interim results, then it won't be worth that now, as land & property has all fallen in value over the last year by around 6%.

[2fedup] 11/7/2008 11:40

Ok so you are not on the board,it is ok having assets but at the moment those assets are in the wrong things ie land. As for the directors they only care about them self they don't give a dam for anyone else believe me.

[mjcrockett] 11/7/2008 09:54

I am 'quiet' because I am very busy. As for the future of Invesesk I do not know what will happen. However, I am 100% confident that the period of suspension will end fairly soon with some sort of resolution - either debt or equity funding. The company has around £6m of debt and land assets worth well over £25m, even after the affects of recent falls. Directors and major shareholders would not let a company in this position go into administration.

MJ

[2fedup] 11/7/2008 09:06

I have to start thinking the same as zainab1 about mjcrocket being a plant,you seem to have spent a lot of time praising up the board but now people are asking about there finances you have gone quiet.

[zainab1] 09/7/2008 18:22

It all seems to have gone quiet, do you think they are having trouble with getting finance. Where will everyone stand if that happens, will they just shut & go into administration?

[theoriginalred] 08/7/2008 12:28

Does anyone know what's happening with the Company attempts with re-financing ?
I've heard that they are in trouble.

[mjcrockett] 01/7/2008 23:59

Z, You guessed it. I am really the MD.

However, the truth is that I am a humble shareholder of Inveresk of many years standing, who is losing money on this damn share.

MJ

[zainab1] 01/7/2008 21:47

Come off it Crocket, I've been reading this post for a while now & it certainly can't be just me that thinks it, you appear to be an insider, probably even on the board for the company.

[theoriginalred] 01/7/2008 20:03

Part of it. I understand that No2 machine will be kept running.

[mjcrockett] 01/7/2008 18:21

TOR, does that mean St Cuthberts will be closing down? Or is that only part of it?

[theoriginalred] 01/7/2008 17:47

St Cuthberts No1 machine will be shutting at the end of July.

[zainab1] 01/7/2008 07:21

we already know what the statement is likely to be, it looks like they are going to dump on all us shareholders who thought we would try to make money out of low value shares. I think i have learnt my lesson there.

[mjcrockett] 30/6/2008 22:21

I think there will be a statement tomorrow, or if not later in the week.

MJ

[ade13] 30/6/2008 14:35

What is the latest news on the suspension of the shares ?

[theoriginalred] 26/6/2008 15:46

I see you've got the message at last. What did I say months ago ? This has been the very excuse that they have been looking for. Watch this space.
The only saving grace could be that without planning permissions the land is not worth much especially given the current housing market.