Panceltica Share Discussion Threads

[lbo] 16/8/2009 12:50

Dubai collapse sparks £3bn in legal claims

[stegrego] 05/8/2009 18:28

Well, another pile o poop that should never have floated.
Really ought to stop this kind of thing ever coming to market....

The directors made $24 million upon floatation, whereas id imagine anyone else who invested lost a packet....




Liquidation of subsidiary and resignation of Nomad and Broker


Panceltica Holdings Limited announces that on 06 August 2009 its Qatar trading
subsidiary Panceltica Qatar WLL will file for liquidation. Furthermore the
Board of Panceltica Holdings Limited announces that it has today been notified
by Blomfield Corporate Finance Limited of its resignation as nominated adviser
to the Company, with immediate effect. In the event that a replacement
nominated adviser is not appointed by the Company within one month, the listing
of the Company's shares on AIM will be cancelled with effect from 07 September
2009. Additionally Religare Hichens Harrison has resigned as Broker to the
Company with immediate effect. Both Blomfield Corporate Finance Limited and
Religare Hichens Harrison will continue to provide advice to the Company as
required.


As announced on 26 June 2009 the Company is considering the sale of Scottsdale
Holdings Limited ("the Scottsdale Group") (the New Zealand based manufacturer of
steel roll forming machines purchased in 2008). The Board does not believe that
there will be sufficient cash for a distribution to be made to its shareholders
following any sale of the Scottsdale Group, the liquidation of Panceltica Qatar
WLL and the payment of creditors. Furthermore the Board notes that following
such disposal the Company would not be in a position to continue as an
independent business.

[argy2] 09/6/2009 13:35

Panceltica Holdings Limited (the 'Company')
Extraordinary General Meeting Requisition
The Company has received a requisition notice from Strategic Partner Limited, which is a 26.46% shareholder in the Company, for an extraordinary general meeting to be convened under which ordinary resolutions will be proposed to remove all of the non-executive directors of the Company, including the two independent non-executive directors and to appoint such new persons as are proposed under article 31.1(b) of the Company's articles of association by a member of the Company not less than 7 days prior to the date of the extraordinary general meeting. Additionally a special resolution has been proposed to cancel the admission of its ordinary shares from trading on AIM.
Notices of the meeting in the form requisitioned as well as the relevant proxy forms have been posted to shareholders and additionally are available on the Company's website (www.panceltica.com) as well as from the Company's registrars.
In view of the existing directors' obligations to all shareholders, the uncertainty over the identity of any proposed new directors and the absence of any substantive details relating to the AIM cancellation, the existing directors are recommending shareholders to vote against all the proposed resolutions.

[raistrick] 20/9/2008 07:00

As i said earlier i am new to this company but the way i read the numbers I think it could be a winner if you add back the non recurring items the profit for the 6 months is $21 million compared with a full year of $25 to dec 2007.
Looking at the previous year the second half is stronger and they must be close to finishing the contract with Barwa so all the profits will flow from that.
I have also been looking at the Saudis they need 163000 houses a year to stand still according to the press and this prince is next in line to rule so there could be some great news from there.

[jrkr] 19/9/2008 07:18

Interesting results the way i read it they have made $ 21 miliion compared with $ 25 for the year last year, in that the IPO cost are a one off and the other finance costs if I am correct are to do with the discounted loan notes that they had in the IPO document.

[raistrick] 03/9/2008 10:25

Definately worth a read i came to look at panceltica today becuase of this guy

Exclusive Interview With Top Fund Manager Manek - 01/09/2008
... JM – I have been increasing the Fund's holding in Panceltica (LSE: PANC), a recently listed AIM company with a market cap of over £200m. ...
www.fool.co.uk/news/investing/investing-strategy/2008/09/01/... - September 1, 2008

[m.t.glass] 18/8/2008 10:37

One of the concerns when using pre-galvanized material (as opposed to the post-galvanizing of assembled components), and then cutting and drilling it, is the need to adequately coat every cut edge - otherwise local corrosion occurs around the cuts where the core steel is exposed. This is particularly important around bolt fixings where even the very localised corrosion can significantly reduce the integrity of the fixings. (Even allowing for the fact that zinc beneficially hinders corrosion of bare steel nearby and there is sometimes a bit of a self-healing effect).

The company's website avoids any mention of what coating material they recommend (none of which, even when properly applied to cut edges, are as good as hot-galvanising or electrolytic plating. And frequently they get applied quite casually onsite, if at all).

I presume they do issue stringent guidance to users. But quality control at distant sites using cheap local labour and management is always likely to mean there will be some comeback occasionally on this point - and it will certainly be pointed out by rivals when tendering for projects.

Has anyone seen any company comment on this issue? It is a question which always arises when galvanized steel is used in construction. Or does the company dismiss it as something they don't bother about?

[bygadsir] 24/6/2008 15:57

18BT

Do not agree - this share is on a P / E of 2
based on projected earnings for next year.
Projected earnings - 40 pence per share.

bygadsir

[18bt] 13/5/2008 10:48

Tipped in IC last Friday and that has caused a trickle of small orders including mine. Interesting company, interesting region, relatively unproven management, too many family members on payroll, mention of growth by acquisition = complete punt!

[bittorrent] 15/4/2008 09:57

Here's a link to the Scottsdale system - more info and some pictures.

[the bearer] 26/2/2003 10:49

No one any VIEWS or OPINIONS!

[the bearer] 26/2/2003 10:28

Has Panic set in ? Barclays,BP and RSA in particular