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Bill you make it sound like its guaranteed to fail.... this could just as easily recover to 50 or 60p. It recovered from 48p to 115p in the past so im sitting tight. Like i said it was a punt which i hedged with another punt and the other punt paid off, its about 3pc of my portfolio so not the end of the world. Anything on the stock market is a gamble its nature of the beast !
If you have money to lose like that you'd be better off having a day at the races. It would be more fun and you may even stand a chance of winning! The investment strategies of people investing in Companies like this really needs serious looking at.
Comparing Ashtead in 2003 to HSS today is a bit foolish I would say. Ashtead was and still is a cash rich company. The uk arm was going from strength to strength and it was the accounting error of sunbelt in the USA that drove the sp down. The Aplant staff all profited heavily knowing this. HSS today are a struggling business and in dept to a tune of 230 million and show no signs of this going away. Two rental companies and that's the only comparison I would say.
That’s the only reason for continuing to hold them / could you live with yourself if you had sold Ashtead in 2003 for pennies ?
I don’t hold HSS but can’t see it happening, it needs luck, refinance and superb management.
Ashtead were oversold at 2p, I mean their accounting problem at Sunbelt was not as bad as it could have been.
HSS aren’t yet oversold at 25p
The Ashtead share price went down to 2p before they managed to rub a genie out of a bottle...
I wonder will this be the same?
They need to start offloading kit, charging more for the stuff they put on hire.
Look at what equipment HSS one Call is re-hiring, they use under performing suppliers and then put it out for less than they pay!!
Couldn't make it up.... and that's from one of "the under performing" suppliers... HSS spend almost �1m a year with them!!
" If you didn't hold HSS, would you buy at the current price? "
No, no and thrice now.
At 10p I might chance my arm - but fully aware that it was a pure speculative play and likely to come out with nothing.
I would risk 5k in it if i wasnt already in, but since i am already in for 10 im just sitting tight, seems like there is stuff going on in the back ground which really warrants and rns but nothing comes, i feel for the ones that paid 2 quid or something stupid like that, i am currently 50pc down on this so its a case of if i lose the lot then so be it... i did buy gms at the same time which earned me 4k profit so my bets were hedged to some degree!!! When i bought them they were just punts as i had spare money in my trading account and To be honest i have been in a pickle since barclays decided to change to that not so smart investor trash and have found it hard to keep my eye on the ball but i will soon be back to full trading with hargreaves lansdown... cant wait to see the update for hss this month though!!!
Nothing strange at all going on. The clue is in your comment - 'dogpoo'. Quarter of a billion in debt, minimal profit, fighting for survival. Do you really expect any rise in the SP? MCAP 36 millions. Would you pay that for the company as it stands?
This was easier than I thought but managed to get hold of the internal email...
I am pleased to announce the sale of Reintec and TecServ to ICE (Industrial Cleaning Equipment Services Ltd).
ICE is the UK’s largest independent industrial cleaning business with over 50 years’ experience in the market. We believe that this is a great fit for Reintec and TecServ, and this new ownership will enable the business to reach its full potential. We also believe that the sale of the business is in the best interests of Reintec, TecServ and its colleagues, HSS, and our shareholders.
As well as being the UK’s largest independent industrial cleaning equipment specialist offering everything from equipment purchase and rental, to asset management and maintenance, all backed by technology and systems, the acquisition of Reintec and TecServ will strengthen the ICE market position, bringing complementary capabilities and experience into the group.
Paul Lewis, Managing Director of Reintec and TecServ will transition with the business, and has said “ICE is an extremely progressive business with a high degree of agility in both strategic development and investment, underpinned by a philosophy of building long term, strategic relationships and partnerships with like-minded organisations. This is a fantastic opportunity for Reintec, as it means focus and investment, which in turn will help us continue to support our customers. I am really excited about what the future holds”.
The HSS Board believes this transaction represents a good outcome for all concerned. As Reintec and TecServ build upon their position they will benefit from the expertise and presence in the market place that ICE offers. As for HSS, this deal is consistent with our strategy of focusing our resources more fully on driving growth within our core businesses.
Reintec and TecServ will be fully integrated into the ICE Group and plans are already underway to support Reintec and TecServ colleagues through the transition. As part of this change, Reintec will continue to operate from their existing locations whilst ICE, over the coming months, reviews and agrees their future operating model. I am sure I can rely on all HSSers to continue to be supportive of the Reintec and TecServ team as we work towards a smooth transition.
Please join me in wishing the Reintec and TecServ team well for the future.