Tvc Hldgs Share Discussion Threads

[lbo] 15/7/2008 10:33

Irish investment company TVC Holdings reports loss of €18m for the 15 months to the end of March




He doth protest too much!




The company's stock has slumped 38pc since floating in London and Dublin this day last year

[lbo] 13/8/2007 11:11

WHAT is going on at Siteserv, the construction services company in which Niall McFadden's Boundary Capital holds 10.7 per cent?

On Monday, a bank holiday, Siteserv announced that the board had agreed that the resignation of Kevin Gallen as chief financial officer and company secretary "should be accepted with immediate effect".

Gallen, who had formerly served as finance director of quoted engineering company Unidare, was only appointed to the Siteserv board just last January. Gallen's appointment was followed shortly afterwards by the departure of Bernard McGlade, who had been a Siteserv director and its group financial controller.

To paraphrase Oscar Wilde, to lose one financial head is a misfortune, to lose two in the space of just five months is beginning to look like carelessness.

If the Siteserv share price was going like gangbusters then its boardroom comings and goings would be of interest only to corporate governance junkies. But it isn't. Floated last November at €0.55 the share price peaked at €1.36 on January 9. Since then it has been downhill as investors grow increasingly nervous about the construction sector.

By the end of last week the share price was back down to the flotation price of €0.58. While the group recently reported pre-tax profits of €5.3m for the year to the end of April it has net debts of €44m while the asset side of its balance sheet largely consists of €53m in goodwill as against tangible assets of just €2.7m.

Further spooking investors was the revelation in the preliminary results announcement that the operating environment in the residential construction sector -- Siteserv's core business -- was "challenging". Until the outlook for the construction sector becomes clearer investors would be well advised to give Siteserv shares a wide berth.

[lbo] 13/8/2007 10:51

https://www.tribune.ie/archive/article/2002/nov/24/trinity-venture-closes-technology-fund/







Trinity flotation document bares fund wounds