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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Jarvis | JRVS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 9.40 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 9.40 | 9.40 |
| Top Posts |
|---|
Posted at 13/6/2010 19:07 by 6kenny muckshifter,you are totally right. The warning signs were their for all to see but most pi's for some reason adopt a very uber positive approach to investing. An approach that in day to day life is usually not associated with the run of the mill limey! The exact same thing is happening right now on the ANGM thread(s). You have the ramping premium thread that bans all of those who question the investment and then you have the other thread that I frequent where honest and direct questions can be asked of ones investment. ANGM were recently in breach of loan repayments yet the ramping thread is spinning this as good news! I think the lesson to investors is always listen to both sides of a story and do not let ramping bullies suppress tough questions that are asked by people who are then labeled as derampers, short or in in league with the market makers! |
Posted at 02/5/2010 13:00 by pwhite73 stepin1 - 26 Apr'10 - 20:21 - 7527 of 7542"looks like he his just like the rest of us.. and lost a packet" I have not invested a single penny in Jarvis, may have done years ago as I trade regularly but I am not a victim of the lastest events. What I do know from experience is that these things take time to unravel. A company the size of Jarvis does not go into administration one month and shareholders receive compensation the following month or even the month after. Compensation can take 2 - 3 years. It does seem to me Jarvis did not collapse through a lack of business but through a concerted effort by Network Rail and its favoured contractors to get them out of the picture for financial reasons. It is important to remember what the Chairman said just a month before administration:- "However, through our greatly improved focus on business development and our success in being awarded the Chiltern Railway's Evergreen 3 contract, as previously confirmed on 15 January 2010, in association with our partners BAM Nuttall, a significant proportion of anticipated work has already been secured for the next financial year whilst the business is experiencing a healthier bid pipeline overall. The majority of the GBP55m of rail associated work on the first phase of Evergreen 3 will be undertaken in the next financial year and the Jarvis team is now working very closely with BAM Nuttall on the mobilisation and design phase of the contract. The focus on business development opportunities outside Network Rail has progressed well. The team now has good visibility of future works with new customers and as well as the Evergreen 3 contract has also recently secured its first small signalling contract with London Underground Limited." Then suddenly out of the blue the lights are switched off for a paltry £15 million. Bank of America and Burdale Financial Limited had already agreed to extend Jarvis a credit facilty of £50 million until January 2011 so the pulling of the credit facilties was in fact a clear breach of contract. See RNS Number : 3584V 09 July 2009. Many shareholders invested on the back of this credit facility. I have no doubt that emails and correspondence between the actions of the creditors and Network Rail will surface at a later date. I am truly sorry to hear about your £100k loss but I do not believe it will be any more permanent than the losses initially incurred by investors in Railtrack. But these things take time. There was clearly fraud and corruption at play here in order to wrestle nearly £100 million worth of contracts away from Jarvis who were too financially weak to fight back. |
Posted at 31/3/2010 22:57 by smellyjim "Sad to see Jarvis go into administration - causing much grief among private investors. But honestly, surely anyone in Jarvis should have been in with only small money.I'm shocked when I read some investors had 100k and 70k in there. Some say their pension money was in it. One said how was he going to tell his wife. On the one hand I feel sorry for them but on the other how stupid can you be to put so much money into what was obviously such a high risk play? An old cliche but never ever put all your eggs in one high risk basket. The same can be said for some of the Falkland Island oil shares which got badly hit this week. Again, those without the money to afford it were putting in way too much and again it's hard to feel sorry for them." |
Posted at 30/3/2010 01:17 by calamity Have got my e-mail working at last...have e-mailed Lord Adonis and Mandelson...anyone wishing to use either of them or parts and add your own bits...feel free To Lord Adonis... Dear Lord Adonis, I take it sir you are aware of the state off affairs in relation to the company Jarvis PLC being put into administration. As transport minister, if my information is correct, that you are the person, as minister for transport, has the responsability to put a PLC transport related company into administration. Is that correct. If so why is it the company at the moment is in administration only 5 days after the company requested it, when from my information that administration request takes some 14 days for safety reasons, as it is a public transport system related company. I am a private investor in this company and stand to loose my investment totally that is why I am contacting you today. It appears the whole reason this company finds itself in this situation is the lack of work over the past 12 months offered out to tender by Network Rail, because of another department of HMG has 12 months ago given out a requirement for savings on the railways. Infrastructure I thought was a high priority for this government in the light of the recession, Gordon Brown highlighting not only to the British people, but the world, to do just that, we are going to spend ourselves out of the recession. Those words are rather hollow now. Other countries, notably the USA are doing just that, but HMG seem to more concerned with other things than to maintain people in work or create work. Now at the start of a new period when work is about to be metered out we find Jarvis, even though they are 1 of the prefered 3 or 4 contractors are being left out or unable to compete as other bigger companies are bidding at either break even figures or even a loss, by all accounts. Able to absorb that through other avenues. Surely that is wrong and against the priciples and even unlawful. Safety comes to mind here. Companies willing to undercut others just to get the work. Also who's next to go into administration in the sector if this carries on. Those private investors that have lost money through mis-information issued by the board through RNS's that have been painting a rosy picture of contracts and restructuring, and when it comes to the nitty gritty they are let down by the company that provided them with working capital and the rug is pulled from under their feet. Why hasn't HMG stepped in as they did for the banks and found funding which by all accounts is less than 100 Million. Yet HMG found it neccessary to fund the banks in billions, surely some other avenue for funding in the private sector could have been applied for Jarvis, with guarantees from the government. Or is it more easy to let the company founder and for the shareholders to loose out once again. Railtrack comes to mind here, and the emergence of Network Rail. Here we go again. Where has it all gone wrong, there needs to be a thorough investigation into all aspects of this, another saga in the PLC world in the UK that allows private investors to loose money on what was percieved to be a company that was in the right sector at the right time. Not a tin pot AIM listed company, not a oil exploration company in the far reaches of Mongolia, but a houshold named British company, carrying out infrastructure work for the nation. Sir I have lived through the second world war as a child, several economic crisis and other wars, and I dont remember a time when I feel let down or ashamed to call myself British any longer. This is what your government has done to people. I was going to give Gordon Brown the benefit of the doubt over the recession, and use my vote for him to continue in office although I found some of his decisions as chancellor dubios to say the least and as Prime Minister. But he appeared to have a handle on the situation of the recession. However after what he said about spending our way out of recession and it hasn't happened as far as the railways and other infrastructure work goes, and this saga is obviously proof, then my vote will be otherwise. Yours sincerely To Mandelson with the same text but with a pre-text :- Dear Mr Mandelson, Please find below an e-mail I have sent to Lord Adonis today with regard to the Company Jarvis, that you are probably fully aware that has been the subject of administration. As the ministar for I believe business I would like you to consider these aspects as well and give some response as to the willingness of HMG to allow such a state of affairs to exist. When only the past few weeks something was being done for small businesses by way of loans or working capitol. Are these announcements just pie in the sky for consumption of the British people. Find below that text, thank you :- Text the same as that to Adonis... It's all probably to late...but who knows...lets get a team spirit here... WHEN THE GOING GETS TOUGH...THE TOUGH GET GOING... |
Posted at 25/3/2010 23:37 by honest crust Never visited this thread before, just wanted to say how sorry I am for the way that this has turned out.Could happen to any PI and those that revel in the demise of this company and ridicule those invested here are the lowest of the low!! What these gutter life's need to realise that hard earned cash has been lost by investors and reading posts on here some serious significant levels too. I know it is no consolation but for the honest sincere traders and investors out there your predicament really hits home. I hope that something maybe salvaged from this for you and I wish you the very best of luck Regards HC |
Posted at 25/3/2010 12:07 by truckertee e-mail I sent off to Bayley.Dear Sir I am not a constituent of yours nor am I a member or supporter of the Labour party. I am however a shareholder in Jarvis which today announced it's fall into administration. Surely as the local MP you must be concerned about the loss of thousands of jobs not only locally but nationwide. Network Rail delaying its rail work has not helped. Will you be raising questions about the demise of this company and what can be done to rescue it. One example is why was there no rights issue offered to shareholders to raise funds to keep the company working until more contract work was handed out from NW. The other side of the coin is that thousands of hardworking investors will lose out and in some cases their life savings. Not all investors are Tory layabouts, I am an HGV driver with Morrisons Supermarkets. Pension funds including those of hard working Labour supporters will be hard hit as well. Let's see what you and your Labour party colleagues can do to rescue a very labour intensive company. After the very public condemnation of MPs over the expenses scandal, there is now a chance to win back the hearts and minds of voters by a concerted effort to save this company as a going concern. I'm sure a lot of these employees who earn their living in your constituency, until this morning, might have voted Labour........... Regards |
Posted at 24/2/2010 09:25 by smug2 freaking helldont jrvs have an investor's relations dept? this is the perfect time to do a pitch for the investors bloody disaster |
Posted at 29/1/2010 18:28 by muckshifter belhus,I doubt if there is any skulduggery. Talos, I'm fairly sure, is selftrade, ie the holding of all the selftrade investors. Probably TD asset management and Blackrock are similar in that they are not trading in their own right, but on behalf of many individual investors. The other possibility is that they feel no obligation to conform to LSE rules if they are US based. Regards. |
Posted at 28/1/2010 18:57 by calamity Sent e-mail to FSA with regard to major holdings not being RNS'd copied below for posters :-Good Evening, I am a Private Investor with a substantial holding in an LSE quoted company Jarvis PLC, Code JRVS. It has come to my attention that some transactions in the shares of this company have not been reported. I have contacted the company's investor relation department by e-mail with a query with regard to this, that e-mail to them is copied and pasted here :- I am a substantial private holder of Jarvis shares and am confused as to the major shareholdings held by institutions. Your annual report shows a company with holdings of 19,500,000 shares on the 13 July 2009 "INVESTERLINGSSELSKA Yet the FT.com web page ref. has no mention of their holding shares now. There has been no RNS issued with regard to this holding having been disposed of, although a holding by Blackrock Investment Management (UK) Ltd of 10.15% of the issued shares is shown on that ft.com website as being held on 16th Nov. 2009, again with no RNS. Ref...BlackRock Investment Management (UK) Ltd. 21.65m 10.15% as of 16 Nov 2009 There appears to be no RNS's for either "INVESTERLINGSSELSKA Blackrock Investment Management (UK) holding being acquired, which if the ft.com page is correct, they have. Or for that matter :- TD Asset Management, Inc. 20.54m 9.63% as of 27 Oct 2009 Talos Securities Ltd. 16.27m 7.63% as of 27 Oct 2009 All these share amounts are above the 3% declaration that should be made and do not appear in 2009 year end report, other than the "INVESTERLINGSSELSKA Where are the RNS's for the acquired shares in those companies not mentioned in the annual report dated 13th July 2009 and if "INVESTERLINGSSELSKA Can you either clarify the position with regard to major shareholders of Jarvis shares or quote RNS's to cover my enquiry with regard to disposals and shares acquired since the 2009 report, there appears none available on any RNS news media. I look forward to an early reply. Thank you. The reply from Jarvis (JRVS) Investor Relations Department copied and pasted here :- With reference to the Disclosure & Transparency Rules, the regulatory position is that where, following an acquisition or disposal of shares, any person has a relevant interest in a listed company's shares or a relevant change in an existing interest occurs, then that person is obliged to disclose the relevant interest or change to the listed company concerned within a specified period of time. Once that notification has been given the listed company is then obliged to publish, by way of an RIS announcement, the information that it has been given. Based on the notifications that we have received from current and former holders during and since the periods to which you refer, I can confirm that we have made all relevant RIS announcements and discharged our obligations under the Disclosure & Transparency Rules. We cannot of course comment in respect of whether or not any current or former holder has discharged its obligation to notify us. Best wishes I enclose with this e-mail a copied and pasted entry in that report :- From the 2008/9 year end company report Substantial Shareholdings At 13 July 2009 the Company had been notified, pursuant to the Disclosure and Transparency Rules (DTR 5), of the following direct or indirect interests in three per cent or more of the voting rights over the Company's Ordinary Shares: Gartmore Investment Limited 15.08% Investeringsselskabe Barclays plc 7.92% Legal & General Group plc 3.16% From the ft.com web page for Jarvis PLC Code JRVS :- Holder Shares Held % of Shares Held Gartmore Investment Ltd. 23.21m 10.88% as of 18 Nov 2009 BlackRock Investment Management (UK) Ltd. 21.65m 10.15% as of 16 Nov 2009 TD Asset Management, Inc. 20.54m 9.63% as of 27 Oct 2009 Barclays Bank Plc (Private Banking) 18.31m 8.58% as of 27 Oct 2009 Talos Securities Ltd. 16.27m 7.63% as of 27 Oct 2009 I have not found any RNS's or market reporting with regard to either :- Investeringsselskabe BlackRock Investment Management (UK) Ltd. 21.65m 10.15% as of 16 Nov 2009 having acquired shares, as reported by ft.com. Not a medium for reporting transactions. TD Asset Management, Inc. 20.54m 9.63% as of 27 Oct 2009 having acquired shares, as reported by ft.com. Ditto. Talos Securities Ltd. 16.27m 7.63% as of 27 Oct 2009 having acquired shares, as reported by ft.com. Ditto. The last 2 companies having acquired shares on 27th October 2009, 3 days before the offer period ended for JRVS. These 2 should have been reported under the Takeover and Merger rules surely. All 3 companies are in breach of their responsibilities under either the Takeover and Merger rules or Disclosure rules in my opinion. Also Investeringsselskabe I would like to make a formal complaint with regard to this fragrant breach of the rules. I look forward to an early response. Thank you. If any of you are also interested in sending a query.. the e-mail address is :- tmu@fsa.gov.uk |
Posted at 20/1/2010 14:58 by calamity Hang on fellers and lasses...lets not get to carried away here with this Gartmore senario...It's not as if Gartmore is one holy pot of shares here or anywhere...lets look at where these sales have come from...HSBC nominees...1,042,000 shares reduction...nominee account I read as an account where the likes of us have our shares...mine are in Barclays nominee accounts...so the chances are that these are PI's just as we are...in my mind when I see a holding RNS for Barclays I read added or subtracted from nominee accounts or share related investment accounts...again PI accounts... Nortrust nominees...1,000,950 shares reduction...again nominee account... Theres no reduction in the BNY GIL CLT nominee account...I can only think all those investors within this nominee account structure are quite happy to let their investment grow... Gartmore Growth Opportunities...woul I don't think there is any conspiracy with regard to Gartmore with such information at hand...if others would like to pick holes in my analysis then please feel free... |
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