Share Name Share Symbol Market Type Share ISIN Share Description
Southern Cross Healthcare Grp LSE:SCHE London Ordinary Share GB00B14RYC39 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 6.25p 0 06:32:19
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 958.6 -47.4 -19.5 - 11.75

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Date Time Title Posts
26/11/201010:00...does the SCHE donkey requires to be placed into a care home...8

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mavverick: BB Not sure i see it like you do. Dilnot will be about a long term fairer funding strategy (as have other previous reports), but working within initially the coalition deficit reduction strategy/timescale which will give him no room. My reading is that recommendations will go in July initially to the Chancellor and Health minister ...who after much consideration will then consult with the ...DWP, Local government Ministers. Then,... recommendations will go to the PM. This will take a long time and much more than 3 months and will need parliamentary debate. Ultimately they will want to try to get all party approval for this if possible. i dont see anything major happening soon from this that will help SC in their restructuring. In effect this will be more of a strategy for 2020 and decades beyond given the demographics (that the footsie top 20 have addressed but councils havn't either for employees or services)in terms of how, who, how much etc will pay for future care, particularly the most dependent elderly. It wont create more people needing to go to a care home or higher fees for SC so i think it will be fairly academic to SC's restructuring. The raising of savings thresholds will only give SC less self payers! The future cost of proposals will no doubt be linked to pension retirement age and tax/NI as in my opinion there will be difficulty ( politically too) in enforcing insurance, although it sounds seductive initially! In terms of the share price if SC get a deal and come out of this alive it will be a LOT more than 8p unless any equity deal is savage! I think a further 100% dilution is easily tolerable. Four seasons had, i think, had about a 50% dilution to manage their debt. I still think 400 care homes is unlikely and maybe not desirable for SC either. It will be an interesting 4 months!
warwick69: any new business running 400 homes must surely be worth more than current pitiful 13 million market cap? surely more than double blimey even if they could muster a £10,000 profit at each home would give £4 million profit at 8 x PE would give £32 million mkt cap which is 17p on current share price. Surely you would expect to make at least £10k a home,otherwise what is the bloody point in running a business its not a charity. Blimey just read at weekend that guy that runs the Car Mobility Fleet for disabled earns £1.17 milion and it is a not for profit organisation. So clearly government money makes some people very wealthy thank you very much?
aspers: Radio 5 have not done their research too well as they said the share price was around 5p!! They forgot to mention the 50% price increase yesterday!!!
edmondj: Share price will find some stub value amid the speculation about survival. Whether there is any real intrinsic value though, when creditors are being presented with a compulsory haircut. (See articles suggesting they must write off some debts.)
daniel: The company will not go bust, because it wouldn't be allowed to, due to its ramifications. The Government will have to offer it a bailout, local authorities will have to increase and match fees with inflation, and Land Lords will take rental cuts. The share price will be 20p soon, the board will foolish not to ensure that, and the government will take consolations in the fact that top Sche investors have still lost 99.8% of their investment; since that what our country is fast becoming, a quagmires for investors. For me 6p is ridiculous, and brave souls can step in the waters. My handlers insist on returning to sche at 10p when the wind changes its direction.
stud-muffin: On the brink: Struggling care homes provider Southern Cross's failure to pay its rent in full for the next four months could lead to a domino effect with its landlords falling into administration, industry experts have warned And despite the growing pressure from politicians and unions for a possible bailout, none of the biggest landlords have spoken publicly since Southern Cross (down 1.4p to 6.4p) withheld £20m from its rent payment for the next four months. Accountancy firm Grant Thornton, which is negotiating on behalf of the 80 landlords Southern Cross owes money to, said it hopes to seek a 'consensual solution'. More...Latest Southern Cross share price {} Shares in the news {} Saga director general Ros Altmann warned: 'Lives could be at risk as a result of Southern Cross collapsing and the other major care home company – Four Seasons – is also in trouble. 'It's incestuous and if one falls there will be a domino effect.' Four Seasons Healthcare, which rents out 40 homes to Southern Cross, is particularly vulnerable. Bought in 2006 by the Qatar Investment Fund, it ran up debts of £1.5bn, but when the recession hit it was unable to repay its lenders – including RBS – and was forced into a debt-for-equity scheme to pay down £750m. The remaining £750m debt was due to be repaid by September 2010, but this was extended until September 2012. But whether the firm can make the repayments by next year is still unknown. NHP – which was previously owned by Southern Cross's former owner, Blackstone – is on the brink of administration. With debts of more than £1bn, it defaulted last year and is currently being managed by Capita. Read more:
boffster: I see share price is improving a little now the market is realising the statement does contain positives. Such as an occupancy rate down only 3% but a share price down about 85%.
lej2: All cost increases that are greater than the fee increase percentage are a concern. NMW has recently increased by 2.2% (and 22.8% for 22 year olds). Energy costs may be contracted for years ahead, but will be increasing in time by 5% plus per annum. Food costs are now rising rapidly. The VAT increase will add to normal inflationery increase on other expenses. The share price is depressed because of these factors, combined with the likelihood of a very low overall fee increase. If fees were to match the cost increases then the share price would return to 50p or so. If the occupancy returned to 89% (the national average) as well then the share price would be rerated and could return to 150p plus. Without these the share price is fair in the 18 - 20p range, but positive news could shift the price quickly. A gamble, for sure, but one that may now be worth taking - for me and any potential takeover.
stigskog: I dont think SCHE share price will move much until October 20th when the government announces which cuts they will make. Then it could go either way or inspire a proper offer for the company. The worse the income situation becomes for SCHE, the better its position for re-negotiating rents imho.
mavverick: i have posted this because it exists not for the accuracy or quality! Shares in troubled care provider Southern Cross leaped 67% late last week after it declined an approach from TowerBrook. Having suffered a massive fall in its share price this year, it may have seemed an easy target for private equity bidders, but has declined to enter further negotiations. In many ways Southern Cross would seem the perfect opportunity for a private equity investor to acquire a business cheaply and turn its fortunes around. The company's share price has tumbled by 80% in the past six months over concerns its business will be severely impacted by UK local authority spending cuts. It has also been hit by rent rises of between 2.5% and 2.7% after it sold many of its freeholds to fuel earlier expansion plans. With rent, staff and home running costs accounting for 97% of its revenues, the group is extremely vulnerable to small changes in occupancy rates. Prior to Friday's offer, it share price was just 10.25p, down from over 150p in February this year. However, despite the group's obvious problems, the board and management rejected TowerBrook's approach in favour of examining other options. Similarly, Brit Insurance declined an offer from US-based private equity investor Apollo in June this year, also prompting a rapid increase in its share price, which remains over 20% higher than when it received the offer. With public markets continuing to suffer from the fallout of the financial crisis, they might seem like easy pickings for private equity funds. However, a flood of take privates has been expected for some time, but has failed to materialise. Despite low valuations, it seems boards and management teams are hopeful their businesses will recover value for shareholders in years to come. Private equity bidders may have to up their game or look elsewhere, as listed companies play hard to get.
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