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If so why does it say commencement of offer period? http://moneyam.uk-wire.com/cgi-bin/articles/201107081018400491K.html The board of CareTech, a leading UK provider of specialist social care services, notes the speculation in this morning's press and wishes to confirm that it has not received any approach regarding a possible offer for the Company. The board confirms that it is undertaking a strategic review to assess the most appropriate way to enhance shareholder value. This review may include the evaluation of the viability of raising additional leverage to finance an offer for the business from CareTech's management. Any offer from management will be constrained by the availability of debt finance required to fund the offer.
Caretech healthy on bid rumours "Rumours of a cash bid approach for Caretech at a price north of £2 a share helped shares of the mental health care specialist close 8.5p better at 142p. Dealers said it could explain the well-above-average turnover in the stock in recent weeks, with a predator possibly acquiring a strategic stake before pouncing. A couple of leading brokers have also turned positive of late, believing it now looks dirt cheap. The 52-week high was 380p. Caretech has been dragged lower by the performance of stricken care home operator Southern Cross Healthcare (0.5p cheaper at 6.05p), which has been on the brink of collapse following a combination of a rising rent bill and declining fees from local authorities as occupancy rates have declined. Caretech’s founding chairman Farouq Sheikh recently distanced the group from the travails at Southern Cross. He reassured shareholders by saying Caretech owns all its assets, while Southern has £23million to pay in rent before it can make a profit. Farouq and his brother Haroon became multi-millionaires when they floated the company in 2005 at 160p a share. They retain a controlling 54 per cent stake and stand to make another small fortune should someone make them an offer they can’t refuse. "
RHL - mmm, bit puntish, but could well pay off, so many shares look good value at present, so its where to go!, just set up an order on Cable and wireless at 46p ish, certainly look interesting at that price, poss reasonable quick 10 points pending results on 25th May.
RRL i complex, they've just issued numerous shares, yet share price has held, so a good sign, i honestly feel will be 30p by end May. I'll have a look t RHL over weekend. GL with CTH.Kicked myself for not taking profits of late, hence why cashed in!
im still in as i think it will breach 150 and then im gone - the stock has historically gone up and down on no volume which is strange yet easy money. As for HOIL you mentioned last weekend, had a quick peak and anything around 230 level, for me, would be a big buy. Hows your RRL doing? seems to be floating around 20p mark why is evryone so excited about it? hopefully not another CAZA people are still dusting off their eyes with that one! Take a look at RHL tell me what you think, I've chucked a few quid their way but not mych positive news lately but as mine was a punt you never know
Sold today, i think this may well fall back again prior to results in June, looking for 110-120 buy back in. Volumes always so so low
Farouq Sheikh, Executive Chairman commented: "We are pleased that trading in the first half of our financial year is in line with Directors expectations. The high quality and integrated nature of our range of services places the Group in a favourable competitive position to gain market share in a challenging environment of constrained public spending".
Trading Update CareTech Holdings PLC (AIM: CTH), a leading UK provider of specialist social care services, issues the following trading update. The Group expects to announce its interim results for the six months ended 31 March 2011 in the week commencing 13 June 2011. The trading performance of the Group for the first half of the financial year was in line with Directors expectations and reflects further development of its care pathway range of activities. During the first six months of our financial year we have increased capacity by 121 places to 1,930 with occupancy levels of approximately 92% in established services and around 87% including facilities being developed. Fee rate pressure is being experienced across the specialist social care market and we are in discussions with a small number of funding authorities who have requested fee reductions. Annual reviews usually take place following the commencement of the fiscal year and it is therefore too early to judge their overall outcome. The acquisition of Care UK's children fostering operations and Phoenix Therapy and Care Ltd were announced last December and we are delighted to report that both businesses are performing well. The enhanced geographical coverage of CareTech's fostering services provides a platform for scalable growth, a service which is attractive to placement authorities and it complements our residential children and family assessment activities. Net debt of £122m at 31 March 2011 was significantly better than Directors expectations mainly due to the reappraisal of a number of bolt-on acquisition opportunities. In the current environment the Board has decided to focus resources on the delivery of organic growth from the existing portfolio in priority to the pursuit of acquisition opportunities, which will only be considered on a selective basis where the Directors believe that the sustainable returns to shareholders are compelling. Consequently this has lowered the Directors' expectations of growth for the full year whilst the reduction in expenditure will provide further headroom on our banking facilities and covenants.
http://www.investegate.co.uk/Article.aspx?id=201104200700122238F
well done in here, i had been watching the freefall for months but never took the plunge afetr being bitten on some others i currently hold, but the 120s was an area i would have felt relatively safe in entering. anyway, i hope todays results are taken well by the market for you mate.
yeah, i made a quick 500, last week shorting ftse from 6060, will be looking for a similar short this week as ftse creeping back to that level. We've been discussing HOIL a lot on BPTY board , quite a few different views on how low it will go. I'm interested to see where RRL goes, everyone been raving about it
TNI average 49 and a rise is overdue - could do with freeing up the cash for other things. LLOY i've been tempted for more than a year but I don't consider the banks great value unless you go in heavy and have spare dough on top of that for averaging down if necessary. I prefer the more simple approach of researching oversold companies and when the downtrend looks to have ended put money in then. Doesn't always work though - heavy in Yell 9.3 average (started at 15p!) but then have made quite a bit from others (PYC, AFE, HOIL) so some you win some you lose. LLOY to me have massive support above 58p but with the market in general looking top heavy you could well get you're 57p good luck!
Yeah, stung on 888, most annoying thing was i had a force open short set up early this week that would have counteracted loss i now have and more, but last second didnt hit sell button - but hey, we'd all be millionaires with privelidge of hindsight. In RRL quite heavy, little in lloy at 60.6, really could do with TNI getting into gear, break even at 54p on that, then its all good, and want capital free to buy lloyds around 57/58p, so tni better hurry up! Smallish amounts WIN and CTH ,tempted to buy more 888 or bpty if funds become available.
yep still in TNI can't be kept down much longer there, volumes are rather skimpy here but should pick up very soon IMO ha ha! not much ramping to be done merely another oversold share with opportunity to make some cash. BPTY headed sharply south I see glad I was out of that one but starting a nice rebound can see it heading back up to around 158ish shortly. Market quite flat at the moment though getting quite difficult to squeeze out some profit! are you still in 888? another shock drop (even with the ladbrokes pull out).
Always well low on this share, and i mean LOW
I noted you didn't put dyor or imo after your ramp, i think that means i can sue you if they don't! lol, nanny state and all that...you have led me into a decison against my own will! lol....i missed that sell to hold, so ta for pointing it out, i think we're due a statement from company soon as well. You still n TNI?
opinion from sell to hold and it looks bottomed out so within a week or two should see some profit - im in bob, 1st tranche
I'm in modestly, but enough.....
up up and away imo
fundamentals show borrowing up net asset per share down so unsurprising to see a drop but to go this low is rather unfair. http://img849.imageshack.us/f/cth.jpg/ should see a further lull to around 125 imo and the volume has dropped quite a bit to present a buying opportunity. Aother 10percent fall and should be guaranteed profit margins if you buy and hold. Thats what I am doing anyway - a positive update would seal the deal!
At the moment the next CareTech trading update is scheduled for the middle to end of April. The interim results will be around the middle of June (ibid!)
Good job we didn't then lol - wtf... this stock is being fed to the dogs, saying that though, from my expo broker notes sayng sell usually means its time to buy... Gonna leave it alone though - Too manipulated for my liking!
By investec today to sell, i guess hence drop...be coy to wait
ditto! every time i think about hitting the buy button it just gets worse!
Every time I think it could be a good entry point it drops even more, some has the shorts for it hardcore... its only a matter of time before they turn long with deep pockets.