Straight Plc Share Discussion Threads

[charo] 28/6/2012 08:55

interims soon so trading statement tomorrow will be interesting.

[charo] 23/6/2012 11:34

as usual nothing is as straight as it seems.the company had been in breach of a number of its banking covenants,substantially waived.note not all,so still in breach.the banking facilities have been reorganised not renewed or extended or increased so still no head room.the unsecured overdraft is now secured on assets.bank is now more secured and can recover its money at will.expect trade suppliers to restrict or refuse to supply as trade insurers move to remove cover.

[topvest] 22/6/2012 18:11

Yes, that's not bad going.

[charo] 22/6/2012 16:08

done well to renegotiate asset backed facility and to have unqualified as to going concern.hats off to js.

[charo] 22/6/2012 15:34

right on cue.

[charo] 22/6/2012 15:32

ok market closed mr s lets have them on site.

[charo] 21/6/2012 14:14

with losses continuing,see prelims, with a shortfall of working capital of 5million and with debtors circa 5 million allowing drawdown of say 3 mill,no draw against overseas debtors the company is up against it.dont see how bank can extend facilities further expect a going concern qualification.

[topvest] 20/6/2012 20:58

Bit of a mess-up. Be interesting to see these when they are published!!

[charo] 20/6/2012 08:18

thank you all that was required.

[charo] 19/6/2012 16:51

interestingly the aim rules dont require 21 days notice of accounts only the companies act and the articles .

[charo] 19/6/2012 14:06

as the notice of agm as issued is invalid i paid no attention to the time 9am,how are shareholders expected to get there,arrive and stay overnite.previous meetings have been at noon.obviously making difficult to attend.

[topvest] 18/6/2012 19:13

Makes you wonder whether there is a funding issue here?

[charo] 18/6/2012 10:32

this is one badly managed business.rotten at core.surely the board cannot hope to hold the agm as presently called.the advisors need to step up before regulators take action.

[charo] 15/6/2012 13:20

Share holders unhappy with the boards conduct in relation to the forthcoming ,in my view ,invalid general meeting should make their views known to the co and their nomad.

[charo] 14/6/2012 16:16

still no accounts so how can agm receive accounts without 21 days notice.

[topvest] 12/6/2012 19:44

My guess is that they have some outstanding issue on the accounts, possibly going concern related. Waiting to see the accounts and will keep this on my watch list. Very high risk at the moment though!

[charo] 12/6/2012 11:17

fast becoming farce,no notice of agm, no accounts ,no possibility of agm on 29th, no info from company or advisors.aim team take notice.what are the directors doing.

[charo] 11/6/2012 13:44

articles of association now on line but not yet accounts.surely the nomad must require the company to recall the date of the agm and give a new date with 21 days clear notice.

[charo] 11/6/2012 10:57

has anyone received accounts.the nomad tells me they should have been posted and i cant get hold of co sec.they dont appear on website .

[charo] 08/6/2012 13:19

the removal of the sales director looks more like a structural change,jg making moves.legal complications prevent more comment or explanation.as to coral their results will likely be mid july and they need to be positive going forward.however the market cap is only 4mill and with interpack likely to achieve 1mill pbt with some contribution from the old coral plus the 1.8 mill of new investment one can only see upside.ebitda to 30th april 2012 is substantially ahead of last year so say circa 1mill and next year is likely to be circa 2 mill.supporting market cap of anywhere between 5 and 10 million on ebitda of 5.
but this is a straight comment board not coral.but you did ask.here we are going backwards and problems still remain .the company does not say will be in profit first half ?? but likely to return to profit during year,so full year loss.cash pressure are acute ,as of today ,or at least till accounts are posted banking facilities are not in place.

[charo] 08/6/2012 12:48

for the record i am a shareholder.

[charo] 08/6/2012 12:41

surely the profit warning said it all.as did the resignation.the rule 26 site is not compliant fact.the accounts for this meeting are not yet posted yet meeting is 21 days from today.nothing to do with last year everything to do with this year.
the accounts of coral i would expect to be issued well inside the 6 months and to be with shareholders at least 21 days before agm-indeed i specifically checked their website to see if they posted their articles as required,they do.

[kenatbabken] 08/6/2012 11:21

Charo

On AIM a company has 6 months to post their accounts I give you
below last years dates and as you can see the AGM was more than a month
before the "posting of the annual report"


28/03/2011 07:01 UKREG Preliminary Results
27/05/2011 12:00 UKREG AGM Statement
30/06/2011 11:07 UKREG Posting of annual report

The last 3 posts are from you complaining about STT despite you not even being
a shareholder and yet Coral (CRU) who you say you hold shares in issues a
Profit Warning and a director resigns and there is not one comment from you
How perverse is that

[charo] 08/6/2012 11:03

tthe rule 26 website is non compiant as no copy of articles on site.