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SUR Sureserve Group Plc

124.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sureserve Group Plc LSE:SUR London Ordinary Share GB00BSKS1M86 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 124.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Sureserve Share Discussion Threads

Showing 226 to 250 of 2475 messages
Chat Pages: Latest  15  14  13  12  11  10  9  8  7  6  5  4  Older
DateSubjectAuthorDiscuss
12/3/2019
16:18
Thanks for that sharw and as you say does not reflect well on either party.
I have been uncomfortable as to what would happen when the Rawlings estate slim down and good they got a reasonably good home for their first 4%.I assume that Downing have all they want;I see Stockdale is their broker and let's hope they are on the ball.

cerrito
12/3/2019
14:08
diduno - please get your facts straight.

If you look at



you will see that it is not Lakehouse Construction (which is a dormant subsid of SUR) but Lakehouse Contracts (sold to Mapps) that is the subject of the article.

You say sold for £0.5m then refunded. Not really - both this and Foster Property Maintenance had an initial consideration of "up to £0.5 million, determined by certain performance conditions during the six months following Completion" so payable after 17th. Feb. However, when Lakehouse Contracts ran into trouble as reported in early December here:



it became obvious that the "up to £0.5m" conditions would not be met and so in a note to SUR's a/cs it says:

"The consideration receivable in the sale and purchase agreement was £0.5m but no consideration has been recognised in these accounts as the Directors regard the fair value of this to be £nil".

Whatever, none of this reflects well on either party.

sharw
12/3/2019
12:25
Looks like Downing have taken a chunk of Estate of Steve Rawlings shares, on the cheap. they must be desperate for money to sell at this level.

Downing have been hit with Gama Avaiation.

igoe104
12/3/2019
12:21
The performance of Downing Strategic Micro-Cap Investment Trust is absolutely shocking. Do they know what they are doing?
spooky
12/3/2019
11:11
Lakehouse Construction applies for administration - see Construction Enquirer. Is anyone really surprised by this just months after selling the company to the Mapps Group for £0.5m then refunding Mapps and putting £2.5m aside for bad debts? This on top of subcontractors pulling off site due to not being paid.
diduno
07/3/2019
19:30
ADVFN error
vfast
07/3/2019
19:30
ADVFN error
vfast
07/3/2019
19:30
ADVFN error.

Repeats of my last post.

vfast
07/3/2019
19:30
Yes,according to Judith Mackenzie up to 25%. I got a feeling she will be back into the market buying more shares.

FMP TV interview with Judith Mackenzie.

hxxps://www.fmp-tv.co.uk/2018/09/14/an-update-from-downing-strategic-micro-cap-investment-trust/

vfast
07/3/2019
19:16
They normally keep adding as well, Downing are invested into Ramesdens one of my other holdings. normally they push the companies they hold into mello presentations.
igoe104
07/3/2019
18:44
Downing's Judith Mackenzie is regarded as a first class mico small cap fund manager.

Downing Strategic Micro-Cap Investment Trust's Judith MacKenzie talk's to Proactive Investor's Andrew Scott.

vfast
07/3/2019
17:46
New major shareholder Downing LLP with 4.13% 6.5 million shares. Now we know where the large trades have been going.

IMO the share price has been orchestrated and deals have been done.

Let’s see what happens to the share price next week!

vfast
26/2/2019
15:33
The AGM is not the place to discuss criminal matters. Moreover, my sources are adamant that to do so could prejudice the upcoming trial. I'm sure that you, like me, would not wish to do that.
diduno
26/2/2019
10:25
Diduno you’ll be at the AGM and raise your concerns ??
knowhow77
26/2/2019
10:04
KNOWHOW77 - It's because I'm party to knowledge that you aren't. All will be revealed later this year.
diduno
25/2/2019
10:57
vfast - The final paragraph of your post does, I believe, hit the nail on the head. However, my sources tell me that it may prove extremely difficult, if not impossible, for the company to conceal exactly what went on in 2013/14 when all is aired at the trial. Although others have since left the company and the local authority, this should not convey a belief that they are untouchable and that there will be no further implications for either.
diduno
24/2/2019
18:17
Any legal prosecutions are against individuals and not the company.

There is no indication that the company benefited from the alleged fraud however it is alleged that individuals working for the company, subcontractors and council employees did or tried to benefit.

Whether they are found guilty or not it will not affect the company.

Fraud takes place in many companies on a daily/weekly bases from petty false expensive claims (which includes myself) to a lesser extent hundreds of thousands and millions by the people at the top.

Most fraud is covered up when found out because it does not look good for the company involved if it gets into the public domain however the employee(s) usually have to move on.

vfast
24/2/2019
13:11
Thanks for bringing the trials to our attention, Diduno
I did go through the notes of the 2018 AR especially page 63 with the accounting policies ref Provisions for legal and other legal claims and Page 50 -the Auditor#s report and found nothing untoward on legal claims.
I also checked the list of shareholders as at January 11. I see that both Harwood and Slater have increased their holdings by a couple of per cent to 19.15% and 10.15% respectively-neither take prisoners and probably good that Miles going on the Board...on the basis that he is not overstretched. One key question is to how long the Rawlings Estate continue with their 15.49% as do not want to think what would happen if they wanted out. No other changes in shareholders over the last year.
I need to go through the AR with a fine tooth comb

cerrito
21/2/2019
08:03
Annual Report 2018, via the website.

hxxps://www.sureservegroup.co.uk/download_file/force/960/204

igoe104
20/2/2019
10:50
A word of warning: A criminal trial is scheduled to commence in September 2019 at Southwark Crown Court. I am told that it relates to the fraud investigation at Hackney and that two of those charged are former senior members of Lakehouse staff together with some sub contractors, one of whom has links with Mapps FM who purchased Construction & Property Services from Lakehouse.

It may well be that the CPS has wrongly brought prosecutions following a lengthy police investigation lasting almost 5 years, but I feel it would be wise to at least consider the other possibility.

diduno
08/2/2019
18:59
Somebody is keen paying 30p for 500,000 shares today 2p over the offer price.
vfast
24/1/2019
18:39
Thanks igoe. Looking good for the future.
vfast
24/1/2019
13:26
EDISON NOTE.


FY18 was a year of transition for Sureserve, as it divested its Contracts and Property maintenance operations to focus on Compliance and Energy support services. The prospective P/E of 6.7x warrants investor attention. The investment thesis is that the group will continue to benefit from being more focused, its remaining divisions have strong regulatory drivers underpinning revenue growth, and there remains potential to improve margins and scope for growth through consolidating a fragmented industry. The outlook statement references a strong order book and a strong start to FY19, performing ahead of management expectations.

hxxps://www.research-tree.com/Dashboard/DownloadResearchNote/3_65309eed-54b8-8955-3c93-926193a203c8

igoe104
22/1/2019
19:56
LHC presumably have no supply chain to conclude their remaining contract works, so expect default. Clients can then act upon the PCG's which were entered in to, meaning Sureserve will be liable.
winklehoff
22/1/2019
16:03
Article on Construction Enquirer 22/01/2019

Sureserve sets aside cash for Lakehouse contracts
Grant Prior2 mins ago
Share

The ex-owners of Lakehouse Contracts have set aside £2.5m for possible claims on projects carried out by the new business.

Lakehouse was sold last summer for £500,000 to a company called Mapps Group Limited.

The Enquirer has been contacted by subcontractors who have quit sites following rows over payment from Lakehouse.

The former owner has rebranded as Sureserve who posted preliminary results on Tuesday for the year to September 30 2018.

Sureserve confirmed it was facing “potential contingent liabilities arising from the disposal” including “potential claims under parent company guarantees and bonds for projects.”

Sureserve has set aside £2.5m to cover this and written off the £500,000 sale price to zero “in light of the weak performance of the activities since.”

The £2.5m is “for costs of claims under parent company guarantees and bonds which are considered probable following risk assessment of all outstanding parent company guarantees and bonds.”

Executive chairman Bob Holt said: “The divestment included certain contracts yet to be finalised.

“It is hoped that those outstanding works will be concluded by the time of the Group interim results to March 2019. A further update will be provided at that time.”

diduno
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