Silverdell Share Discussion Threads

[cockneyrebel] 02/7/2013 15:24

Too many on TMF are amateurs posting like professional analysts imo.

For all ADVFN's faults most on ADVFN know that everyone else is probably a private investor making a 'best guess estimate' at a co with the knowledge available.

I find the TMF bb's probably the most honest but also the most naïve when it comes to listening to directors and where punters do write ups like broker notes. It's nice to see the detail but it can lead others to believe that the writer is a bit more clued up than perhaps they are imo.

The ignoring of charts on TMF really stuns me - give me a choice between fundies and charts and in most cases I'd take the chart.

Anyway, sorry to those that have taken a hit here - you're not the first on AIM and won't be the last until the FSA regulate this cesspit a bit better imo.

All imo/dyor etc.

CR

[pj 1] 02/7/2013 15:19

I believe there has to be a period of 7 days from an Adminstration Co being appointed (or Liquidators) before any Administration practice takes over.

I assume therefore that SID have 7 days to sort this (with HSBC)?

[dasv] 02/7/2013 15:13

cestnous - yes - apparently what people value more than anything - more than money - is their own reputation on bb's. The first thing you need to let go of if you choose to post is your ego.

[bookbroker] 02/7/2013 15:13

Sirmark - Technically speaking yes, but it is up to HSBC and the board of Silverdell to sort this mess out, it is in neither party's interest to cease the co. from trading, it has to be determined whether there is a legal framework around this issue concerning Kitsons that can be resolved, cannot understand how DLA Piper, their so-called legal advisors can have allowed this situation not be resolved before the winding-up petition occurred, especially when we know that it was issued on the 13th June.

[tinware] 02/7/2013 15:11

sirmark: you to be more specific when so much emotion is flying around:which company?

[dasv] 02/7/2013 15:11

sirmark - presumably you are referring to kitsons rather than silverdell.

--

drewz - care to elaborate?

[sirmark] 02/7/2013 15:02

I have rung the company as as of yesterday the company is now in administration

[bookbroker] 02/7/2013 14:58

Incredible statement with regards to share prophets comment, somewhere a compromise ought to be reached, even if management sanctioned, that's what non-exec. directors are for, where it leaves investors is another matter, bizarre situation!

[drewz] 02/7/2013 14:57

What a storm in a teacup.

And what a hysterical response.

[bookbroker] 02/7/2013 14:35

Where is that information from Sirmark?

[sirmark] 02/7/2013 14:32

Company is now in Administration

[bookbroker] 02/7/2013 14:26

The co. really needs to assuage shareholders with some form of statement, these BBs create so many possible outcomes of which any could be interpreted, I hardly think HSBC would pull the plug without the company trying to attempt a fundraising, even if share value diluted.

[rivaldo] 02/7/2013 14:15

A poster on T.M.F has noted that "The judgement was made against Kitsons on the 19th June. It was for a total of £28,330".

This is completely immaterial. Is it possible that someone at HMRC/HSBC has been rather over-officious, noted the case, demanded any monies due within a certain timeframe and that SID somehow missed the deadline or are contesting it - such that rather than having rumours circulating the market and forcing the share price down, SID have been advised to suspend share trading in the interim?

The "clarification" phraseology does cover a multitude of sins, but I have my doubts as to whether it covers this scenario. Just trying to think up reasons for what the hell has happened.

[roddiemac2] 02/7/2013 14:06

I am told Kitsons had a winding up order against it on the 13th June. The pattern of selling in recent days suggests some knew of problems.

[bookbroker] 02/7/2013 14:06

Still find it difficult to understand how recently appointed non-exec. director put even £25K into buying co. shares when HSBC on the verge of placing this co. into administration, especially when just one month ago an upbeat set of half-year results put out, if the co. was aware of the banks intentions, would it not have been more plausible if they had delayed issuing the report, I know, I know, it doesn't alter current situation, but extraordinary that the rug has been pulled so suddenly from under investors feet, let's face it the fall in share price hardly dramatic over a twelve month time frame.

[cestnous] 02/7/2013 14:04

Loverat
I sold all my INCA tody as I did not like the chart and immediately posted thye fact on the thread. If all these clever people who sold just prir to today had posted so here, I would certainly have taken a second look. Unfortunately, they did not. I agree with dasv.

[mechanical trader] 02/7/2013 12:46

Maddox I havent lost a fortune....have you?.

[maddox] 02/7/2013 12:44

There speaks your sophisticated Tealeaf Analyst.

[loverat] 02/7/2013 12:32

dasv

The problem with your suggestion is that not many people have the skill and knowledge to reach such conclusions at an earlier stage. Negative posters are not the most informative and the majority are simply derampers or do not explain in detail how and why they have reached their conclusions. Hence quite often their predictions do not materialise and people lose money selling out on their 'advice'.

There are probably two or three posters on this whole site who could have done a proper analysis of this company. Even then this may not have been something that could have been reasonably predicted. I remember a year back one poster saved me some money because he did an anyalsis of a balance sheet which more or less categorically proved the management were liars. However that was different to this and it took me a while to realise he was not another deramper.

The state of these bulletin boards and the poor information on them is as much a cause for people losing money as poor management IMO. Most posters do not see these boards as helping others and swapping information. In fact more the opposite.

[briangeeee] 02/7/2013 12:17

bookbroker, we won't know any real details until the company updates. The creditor who brought the winding up petition yesterday has been paid his £60k.

There were apparently a few strange things however. The company could have settled such a small sum earlier, so no petition would have been brought, and indeed the petition wouldn't have been advertised. Almost like it was a small matter in the midst of much larger problems, and Silverdell just overlooked it.

At the start of the hearing, apparently the company barrister requested that the hearing was adjourned as HSBC were due within the next week to put 'the group' into administration. I know that sounds very strange, but apparently that's what was said.

How this could all be going on with nothing released seems amazing, but as I say, we don't know the full facts yet.

[dasv] 02/7/2013 12:14

perhaps next time everybody who sold or smelt a rat could let the rest of us mere mortals know prior to the sh!t hitting the fan? just a suggestion.