Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I know m8 I understand but the bod knew they were in financial trouble and could of triggered a placement anytime with any hypothetical figure you want to use all I was getting at is it could of been avoided liquidation of all things.
Any rights issue would have to be accompanied by a prospectus. Skeletons in cupboards may have been evident, and high interest solutions more palatable... jimo.
The weight of the law would be to refund our losses and pay a fine FCA as they always wait before starting an investigation. That investigation should have started in July after the warning which I still think was fabricated as it was known for years by the insiders.
For tonights news... headline - did carillion bosses cause its crash !!
Jester, That�s too perfect, how about 1 billion new shares at 50p(huge discount) while it was trading at 70p - 80p. That is extra 500 million to reduce cost and improve balance sheet. No way, the directors never had a dire cost cutting program............Coch must be investigated for his depressive way in handling CLLN and why he loves high interest loans instead of begging shareholders for money in return for sharp cost cuts.
jester I agree it is imperative a full and thorough investigation takes place, not just the last year but I suggest the last 5 years. Any individual or group found culpable of misdoings should feel the full weight of the Law, period.
This share was �2. 430mill shares placement to double the shares in circulation could of brought in 860 mill. This would of helped massively? So why don't they do it this would of bought them time to streamline the business and operate it in a more efficient manner. Too many chiefs that didnt have a clue.
Howson was the guy that kept the Ponzi going and he could have found a way to raise equity and keep things going. Coch was drafted in by the shorts to liquidate the company.............Can we sue the directors? Please guys as I think the directors actions were very fraudulent. They never tried to cut cost or try to raise cash from investors. Coch never said, ok no execs will get paid more than 40k a year and all staff would take home 25k average pay for the next 3 years. Useless guys......I could have saved CLLN
badshah, with respect just review events of the last 6 months. There has been ample opportunity to find and sell elements of the Business. The only part sold is the Health services for a token figure. The mysterious Mid East buyer disappeared as quickly as the one could say Jack Robinson. The sale of assets has been an open secret and unless it has been concealed little or no interest. As far as further funding was concerned, it seems pretty clear Banks have had enough and although it may have possible to float a Rights early last Autumn, that opportunity slowly disappeared. Other creditors were clearly having none of a D4E. The one things which did puzzle me was having stated EY were on standby to become Administrators, this last weekend, that suddenly changed in the middle of the night Sunday. We now know why...Administrators did not consider there was adequate funds to pay their fees. A very damming statement for any Company.
That's where I think it's quite criminal. Why didn't the bod do a placement at a pound or more. You have to look when the shorts were placed who placed them and if deemed insider trading lock em up. 45000 people are on the rock and roll billions lost and some people think that's just the way it is take the rough with the smooth. Well no it needs investigating and by people who have a backbone. We can bail out banks to the tune of 100 billion but when a company comes calling for help the banks don't want to know short memory or what.
badshah, the warning signs were there. One only had to look at the exceptional high level of Shorts which should ring alarm bells. Shorts ( Hedge Funds ) certainly knew more than Joe Public was being told. From July when information began to emerge, just a little investigation would have revealed all was not well. The BOD were either blind or ignorant to have not been aware of the Company's financial state many months earlier. A similar situation is developing, imo, at Debenham. but as always time will tell.
I also feel it was all done in haste for some reason. Why didn't they look at option for raising more money through equity, let it be billions of shares when the sp was 200p. At that time this company had good credentials and they would have easily found buyers. Option for equity was there until last day, but probably too late to find the buyer. Govt's logic is difficult to digest as companies and PIs are still left with bad debt in this case.
You could read as much as you like but they were the biggest bunch of crooks you'll ever care to meet.
To be honest, anyone doing their research wouldn't have seen this coming - not best of the best.. If you would have had doubts about CLLN in June 17, then you could have probably not been able to invest in any other stock either. It was considered one of the most secure shares with good dividends and I feel it hard to digest that govt. let it go off so easily as lot of their work was at stake apart from thousands of jobs. This shows nothing is secure, not even FTSE100 ones, forget about AIMS. I was never invested here but was tempted to get in around the first slide at 40-50p. Past history of CLLN was very strong. Luckily by experience of trying to catch the falling knife with Quindell few years ago prevented me from risking. Lot of PIs got poorer with this
It would be interesting to see how the BBC would play it. For me the question is how HMG reckoned the choice between taxpayers money to pay for loss making obligated services once run by a now liquidated company (the situation now) and the cost of other options. Did the taxpayer win or lose and quite how much? Don't forget that the idea of contracting out and DLO was to save the taxpayer money. Oh yes, I trust very much that no-one in government has any friends, family, or part-time jobs on the board in Serco, Kier et. al.
buntswood you are one of many. I think of the Doncaster Pensioner who sent a letter in to Sunday Times 4 weeks ago. He was impressed with the stylish vehicles and logo running around S.Yorkshire, he purchased 1000 shares in April, basically to give himself better income ( the Div was good). At the time of his writing he stood to lose around �2000, now of course more. Too you and anyone who wishes to read, ALWAYS do your own research no matter how much you trust another source, before committing to an investment.
My wife purchased shares through her family stockbroker, who is on the ball, and he failed to see the pitfalls, so what chance for us lesser mortals. With the shares being shorted throughout, and the rumours floating about, I ought to have had an inkling that all wasn't right, but the dividend was good, and orders pile in. I even topped up at 280p, the euphoria was so high. Even worse, I went on a sailing trip on the Baltic and was away on the crucial day without internet, so missed the beginning of the slide. An expensive holiday, and I don't think I can offset my losses, as the money was in a SIPP. Ah well, these things happen, and along with my large holding in Igas being diluted 20 shares for 1 new share, last year was a harsh lesson on the down side of the Stockmarket. I'll blow a gasket if anyone who was involved with clln gets rewarded in next years honours list, but one can almost see in coming.
Chin up 5laws, maybe an expensive lesson. Sharetrading is always a risk , Clln had danger written all over it for ages but if it had survived then might have paid off hugely. Stick with ftse 100 next time.
It’s a first I agree with Jambon, these and other incompetent , corrupt or greedy directors need to be locked up and have assets seized.... well said J
Vauch that is some timing the poor bugger!!
Very sad. I was working for them when they went under. It was crazy. Many of the company employees took part of their salary as share options every month. They lost the lot. Fortunately the company got taken over by Thomsons I think it was and most people kept their jobs but pensions and shares went down the drain.
I remember one of my customers had a major holding in Durlacher as this was going tits up he was advised to clear out and put it all in Marconi this also went tits up and he had to sell his house to cover the losses.
I agree, GEC Marconi was the same - almost �13 one week, 3p the next. Halifax much the same. It happens.
Would be interesting if Beeb made a Panorama program on this one. Probably they will need more than an hour to present the mess
There are many other companies that are more than enough safe to put your mortgage money without worrying - for example oilers one month ago, before oil price boom. Investing your mortgage into shares is not bad as long as company is strong with no debts. There is really no need to take any risk when investing to make money. Carillion was swollen with debts. It was punters/shorters share for small amounts like �1k-2k and nothing above �10k...