Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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AP,the committee is split 5 labour,5 con and 1 SNP.Heidi Allen,Con got stuck in. I think they could have asked more probing questions on how the net debt figs mysteriously always look good on set dates ie 31st Dec.On the 10th July TU they said that net debt at 31st Dec 2017 would be lower than the net debt at 30th June 2017 which was stated as �536m-they didn't have a clue really! With regards to shares apart from Howson they never bought into that.
The worst bit is they continued to increase the dividend when they could have been plugging away at the pension deficit. Most likely because the BoD had substantial holdings as shareholders. £70M dividend paid and £50M to pension. When questioning Mr.Cochrane he replied "I don't recognise those numbers" the committee said "well it's from Carillion PLC final year results 2016, it is what you published, surely you must know the profit and how much you pay out Mr. Cochrane". Interesting that the committee was mainly full of Labour MPs not like it makes a difference but I just found it interesting.
"Given that the shorter who has borrowed the shares for a price can't purchase to redeem their position, what happens?" Rosewall, This event is like a shorters birthday and Christmas all coming together. As the shares now have no value, the shorter does not need to return them, or pay any money to the lender.
What gets me,Coch was surprised by the speed of the collapse then points out the qatar debt was an accumulation of 18 months of non payment. In other words this demise has been going on for years.
Former finance director Richard Adam is asked about his shares. "They were disposed of on my retirement in accordance with the procedures that the company put in place for everybody," he says. One MP snaps back: "So you sold them as soon as you left the company."
"Mr Khan is not having a good time at the Committee. Witness this earlier exchange... Frank Field: "Were you surprised the whole thing crashed?" Khan: "I was surprised with the outcome that came to pass." Rachel Reeves: "Were you asleep at the wheel?" Frank Field: "He was asleep somewhere else.""
Live Carillion Committee.
The market cap that day was �61m.There's a lot of people higher up the food chain with much bigger losses who will be out to find negligence.Just have to sit back and let them do the dirty work!. I'm keeping an eye on CPI but the big thing which puts me off is KPMG.Surely they would be using the same accountancy practices on both firms and if KPMG had a problem here then its going to spill over. Been back through that weekends postings and one of the "experts" at the time suggested it wouldn't be systemic to the whole market,which is true but felt other companies may benefit from Carillions collapse.If he was thinking of other outsourcer's he got that hopelessly wrong.
If they compensated share holders to the tune of say 15p, thats about where we were on the friday before collapse? That would give me about 12k i think ! That would be nice lol!!
Express reckons Khan will "spill the beans"on Tuesday 6th feb at Parliamentary committee grilling.Could be true,at 50yrs still got a few years left to kill.Gemma Mercer who took over in Sept 2017 did sound a bit nervous on the web cast so prehaps Frank Fields can get the truth out. Does make interesting tv watching people lie,9.15 til 11.30am BBC Parliament.
I'm fine. Never say never when it comes to Carillion, if it can be proven that KPMG or Deloittes have acted negligently then lots of ambulance chasers out there.They reported before Works and pensions committee on frid 2nd Feb but haven't bothered to look up what was said yet. The only trouble here is the big 4 make far too much money for HMG so i can only see a cover up developing and even if some sort of justice was dished out then prehaps the Grand children might be able to have a slap up fish and chip supper in 10yrs time. We knew things were a bit precarious at Carillion but not this bad.I never did like �1.6 billion of goodwill and that vanishes when liquidated.The other thing was i thought HMG would help when pushed,another misjudgement. lt does look like HMG have taken the more expensive route. Would like to know how Taz is getting on,are you out there?you can say what you like about Carillion now!!
I think PJ has lost his balls and mind with CLLN going bust :P..
Probably just a boiler room scammer trying to get their comment count up.... snige hows things with you?
The busy board today wtf pjball are you drunk
Question regarding the shorting of shares prior to suspension but with the position open on suspension. Given that the shorter who has borrowed the shares for a price can't purchase to redeem their position, what happens? If the shorter can't purchase shares to redeem his position, what happens to the original owners shares? Can they be recovered? I know there is a clause in my brokers agreement that the original owner of shorted shares can lose them. Does anyone have knowledge of this? Has it been raised earlier? FYI. Genuine question, I have no position in CLLN.
Think we have a defective android here,pull the plug out!!
what is the problem with this site
Email sent to admin.
allsorts, you have a problem !!!!!!!!!!!!
Why ask, look at the history, what a AT
Wtf
ob!!!!!
ick!!!!!!!
I agree with your comments. I did contact the FSA only to be told contact the Ombudsman it is a long time frame to wait. I am left with little choice but to wait it out for the broker EQUINITE to settle unless you have any ideas
what do you expect, Ombusman will settle this as soon as you call them? You will have to produce all the evidence and communication takes months to resolve. This might this be worth it but dont expect any additional compensation for your effort, Ombusman will only get your dispute resolved and they dont look into any compension for the trouble you go through. If you need compensaion then you would require lawyer and legal case. I hve dealt with one of the other Ombusman for furniture in the past and their job is to settle the dispute only - They told me that if I am looking for additional compensation, then they cannot help me with it (I mean with compensation bit)