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SEN Senterra Egy

2.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Senterra Egy LSE:SEN London Ordinary Share GB00BYX0MB92 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Senterra Egy Share Discussion Threads

Showing 1701 to 1720 of 1925 messages
Chat Pages: 77  76  75  74  73  72  71  70  69  68  67  66  Older
DateSubjectAuthorDiscuss
22/12/2004
09:15
I see where you are coming from, however, I think it is unrealistic unless you are willing to get backing to buy 10% of the new stock and call an egm for the directors to be removed.

Perhaps shareholders would be better buying the shares and hoping they double(quite possible) with a profitable business and better balance sheet.

The directors have destroyed shareholder value but there is little that can be done unfortunately.

Perhaps the answer is not to invest in companies that don't invest in their shareholders.

taffychaff
21/12/2004
08:47
You certainly will all end up with nothing if you just sit there and whinge.
I can get together a team to run tihs company far better than the current board and far cheaper.
It doesn't need great skills to run a company, all it needs is a team of people prepared to take their common sense to the the office and prepared to work for the company. In nearly all cases you can find these people already in the company. You don't have to go outside and select somoene on the basis of "they already have another 10 directorships, and they want a huge salary so they must be good".

The company is basically sound, and is jsut turning to profitability -That's exactly why the vultures want to get 90% of it at a penny a share. They could have raised £5 million in June at 4p a share.

You can save this company if you all get together and do something.
Either turn up to the EGM and vote the proposal down, or give me your proxy and I'll do it.

dmhzx
21/12/2004
08:45
QuasiMoDuck

Are you going to double your holdings and buy another £158 worth then ?

If so, you'll need to do this on the open market - the new shares are not being offered to existing holders..........

dexdringle
21/12/2004
07:54
Divina,
Got out a while back with a substantial loss. Thought the writing was on the wall when that euro-fanatical bufoon of a Tory MP, Ian Taylor, was made chairman. If he can be so wrong with his politics how can we trust him to make the right decisions in business. This is now an absolute basket case and I'm sure that present shareholders will eventually end up with nothing.

tommo41
20/12/2004
16:46
When our £3.5k has sunk to £158.84, whats wrong with throwing another £158.84 in the same hole in the ground??

our holding is now only worth £158.84 - it aint worth selling - wont make any difference to our overall portfolio - it is a left over from the tech boom - another £158.84 will reduce our average cost price by half (from 22p to 11p) and at todays price will be worth just over £300 also not worth selling.

We will sit on them and lets see what happens.
Our Investment club members just see this one as a risky punt as opposed to investing. No big deal which ever way it goes, less that 1% of our portfolio. Not worth getting passionate about.

quasimoduck
20/12/2004
16:00
Oh dear. 1p each and existing holders taken to the cleaners.

And I remember, like it was only yesterday, when they were over £1 each (after the consolidation).

How could it all go so wrong ?

But the people putting up the £5m must think it's worth it........

dexdringle
20/12/2004
15:59
Good call Responsible Lad (not)

Did you "move in" ?

dexdringle
19/12/2004
09:43
In June 2004, the board of screen stated that they were likely to need more working capital. At the time, the mid share price was 6p.
By the time a placing was announced in December 2004, the share price had collapsed to 1.75p. Since the announcement it has fallen by a further 48%.

The announced placing was at just 1p. This represents a massive 82% discount against the price on the day that fundraising was first announced. (AND 90% discount if you compare the price the privileged few will pay for the placing and the price they would have had to pay on the open market)

On the face of it, this is either total incompetence by the existing board, or a deliberate walking down of the price, in effect to steal the company from its existing owners.

Existing shareholders have been denied any say in the way negotiations have taken place and have been denied any possibility of taking part in that placing.

Share dilution is approaching 90%, and with the various options given and placing shares taken up, the current board after the placing will own nearly as much of the enlarged company as all current shareholders put together.

The existing turkey shareholders however still get the chance to vote for Christmas and the placing cannot progress unless it is voted for at an EGM.

My concerns about this affair, apart from the orchestrated theft of the company, and assuming that the board were being truthful at the interims, are as follows.

The merchant bank acting as agents for the placing just happen to have a common director with Screen, and are getting £75000.

Collins Stewart, as nominated advisor to screen has been paid £300,000 for advice. Advice that has lead to a collapse of shareholder value. And advice that also looks incompetent at best.

It also seems very odd that this placing has been announced perfectly timed to limit shareholders chances of responding, coming just as the Christmas break begins

If the shareholders vote for this placing they lose 90% of the company.
The placing has been recommended by a board that has presided over a 90% fall in value during a six month period when the underlying business has been at its strongest ever.
If the shareholders vote against the placing, the board have already threatened to call in the receivers. The implication being that without this particular placing, HboS will suddenly turn from 'supportive' and demand all their money back.

Therefore, if the company is to be saved for its present owners, we need to do ALL of the following at the EGM.

1) Vote against all the proposals
2) Sack the entire board and replace it with one that will work for the company.
3) Replace Collins Stewart as advisors. It is after all their 'advice' that has led to a placing at 90% discount from the start position.
4) If HboS is going to pull the plug, we need to get rid of them as bankers and find someone else


So this thread is intended to see how many votes we can get together in time for the EGM. – Anyone prepared to come to the EGM or let me have their proxy, please post here. If it looks as though we have a chance, my input would be up to £65K, which would represent just under 10% of SEN at today's price.

THERE ISN'T MUCH TIME.
ACT NOW TO STOP YOUR COMPANY BEING GIVEN AWAY.

dmhzx
19/12/2004
09:29
Mr Rusty:
I see where the figures works now.

It's there in the figure SEN owe over £8 million to the bank and another £3 miilion elsewhere. This is totally covered either by TANGIBLE assets, stock or creditors, so it hardly looks like a company in genuine crisis (Marconi, Telewest from a while ago)

So maybe HBOS is behind the the theft, after all they're perfectly placed to see the business just about to turn itself round, and take full advantage.
Since they've just announced they're giving back £750 million to their own shareholders, demanding a piddling £3.3 back from SEN seems 'odd'.

dmhzx
18/12/2004
17:03
I can see you becoming a major share holder in screen, could run it from Cuba.
wertyi13
18/12/2004
16:48
That said, many moons ago I bought a few million Millwall below 0.1p and made a very handsome return on speculation that chris ? was about to buy them out.

So shouldnt totally discount the odd (very) penny share.

wertyi13
18/12/2004
16:46
need more than luck, need an f´n miracle
wertyi13
18/12/2004
16:41
werty - you seem to have got something on the brain about me buying penny shares - I buy value shares, this is entirely different.
This company has led holders on a merry dance, I doubt I would ever buy them at any price - you on the other hand may see some value here and I wish you luck.

isis
18/12/2004
16:26
isis I thought you would buy these, think how many you could own for 20 squids !
wertyi13
18/12/2004
16:23
The returns are exceptional - exceptionally bad!
isis
18/12/2004
16:18
Thanks for the website, not much going on there, just blurb.
wertyi13
18/12/2004
13:04
From the screen website:-

Mission Statement


-To develop Screen into a leading business to business solutions provider.
-Specialising in software, wireless & video technologies.
-Targeting selected markets in which Screen will be a leading player.
-Delivering information to mobile users across the world.
-Whilst delivering exceptional returns to our shareholders.

ROTFLMAO!!

bangers
18/12/2004
12:15
I'm afraid your stuffed with this one - if the issue does'nt happen they will go into administration.
Either sell, hold or average down and hope for the best - the company has sewn it's own seeds and appears to have been run badly by several sets of management.
Basket case.

isis
18/12/2004
11:28
Do they have a website?
wertyi13
18/12/2004
11:13
dmhzx re posting 168. I believe my figures do add up.

If you look at the 2003 annual report Note 19 you will see that there is a bank loan of £1.209M. The RNS announcement just issued states that HBoS will not withdraw its £7M working capital facility in the period up to the placing. Screen must be at or close to its facility limit otherwise why do they need to raise more cash? Ergo HBoS currently has £8.2M loaned to Screen in one way or another.

After the placing the RNS announcement states that HBoS will provide Screen with a loan of £4M and a working capital facility of £1M, thus HBoS will only have £5M loaned to Screen in one way or another.

The difference between the two positions is £3.2M; therefore HBoS must be clawing back that amount of money from the placing if it is to get down to only £5M in loans to Screen. QED

mr rusty
Chat Pages: 77  76  75  74  73  72  71  70  69  68  67  66  Older

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