Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Robottrading Management and then administrators will try and trade subsidiaries so banks have a chance of recovering some proportion of their loans. They will take a significant haircut as well. Equity holders will get nil or pennies at best. The better quality bits of CVR will survive in some format the weaker bits such as business previously brought out of administration will largely disappear. The margins in business are so tiny versus huge execution risk so nobody is going to bid huge amounts for the business and I don’t see banks being that keen to lend to a potential acquirer either.
Hi Jambo,only came ere for a bit of excitement.The other shares were getting a bit boring so saw this Director buy and thought it was a good sign like "Talk".Sold out at 125p but as it fell got sucked back in for a few K, but nothing like Carillion. Hence not buying anything which starts with a 'C' now,lol. ps KPMG where the auditors here?
Snige i hope you have not been fecked over to much here money wise... good luck with all your other stuff....
That comment relates to MC - perhaps Bibendium.
Tim Martin will be looking to secure his wine and spirit supplies. How about I take this effectively non profit making entity off your hand. (Says Tim) Not such a daft idea eh?
That's Matthew Clark, they supply all the big firms. I used to work in their head office.
One of its most important customers is the JD Wetherspoon pub chain. Conviviality supplies all the wine and spirits to 900 Wetherspoon pubs - a contract worth tens of millions of pounds a year. Wetherspoon said that at the moment deliveries are continuing and it has contingency plans if those supplies are disrupted. Despite reassurance from Conviviality that it will continue to trade, the British Beer and Pub Association said the situation is "causing concern" for pubs as Conviviality is such a significant supplier. """Despite reassurance from Conviviality that it will continue to trade""" So whats that supposed to mean then "Con"viviality will continue to trade...mmmmmmmmm confused ?
Robot,you mentioned "The board would be onfire.how meek we are everybodys gone stum hey,". The reason we are stum is because we have just been slaughtered. On March the 8th we arrived at the abattoir and was duly stunned.One of the cows Old mutual got wind and did a runner.The original stun was insufficent so the gun had to be reapplied on the 14th march with a �30m charge which this time was successful.Bleeding commenced over the collection trough and was allowed to proceed till yesterday when it was safe to butcher the carcass after inspection.We are currently in meat packing. The only question remaining, was the slaughter humane and with current practice the probable answer is yes.
What a shame great company gone .years ago it was the no 1 supplyer
Stuart does have a point such a large turnover and tiny profit,it would only take a small dip in turnover and the profit would quickly become a loss. My main concern is once you could rely on a audit certificate from the accountants before buying into a company not any longer. What controls did this company have bugger all Oh by the way chaps we owe £30m vat on Thursday.
It was only a matter of time before the scum turned up,typical of the stuart1234,revelling in our losses karma lad karma.... zegga the lse and fca do not give two hoots mate,all those pompous rich guys have no idea of real life they will always say that the financial system works regards the stockmarket,also zegga the warning investing in stocks can risk the loss off your investment so FRIDAY 12TH APRIL,SH IT OR BUST LETS HOPE ONE OF THE INBOUND APPROACHES FOR CVR BUYS US OUT AT IF WE GET 50P EACH PER SHARE FOR INSTANCE BETTER THAN ZILCH,WE NEED THE FULL DEBT FIGURES AND OUTGOINGS INCOMINGS... I still think there was a due diligence going on in background there might have been a offer on table in making theres a reason this went tits up fast,some body found this out,what did cvr bod know...we got a very small chance of a little bit of hope if the buyout goes ahead will the board treat us as equals with others we will see...
Amateur night out, basic incompetence, couldn't run a p***-up in a brewery...add your own epithet on this disastrous company. I shall be looking at any other holdings I have to ensure Diana Hunter is not involved.
yes shares mag tipped this 2 years ago i think, i liked the way they revamped their shops and bought the wholesalers. the shops were always for alcoholics up north, very few shops in surrey etc. it waas the tiny profit margin that put me off. plus the rise in min wage would hurt them badly also.imo.
Wow, what an extraordinary few weeks it has been. I nearly bought in here a few times over the years and kicked myself every time I saw the price was flying ever-higher. From that to completely bust in a few weeks is just frightening. What a mess. Genuine commiserations to all holders here.
it was justt that the regulars of the shop were told by they shop manager, that the shop has gone bust, read what you will into that ???
The board would be onfire.how meek we are everybodys gone stum hey, So they tell us today theres trading for 10 more days why then auditors take over.theres approaches for the whole company aswell as approaches for parts. One things for certaian this bod will pay of and or sell to right buyers to secure another well paid job.but any sale ie the whole CVR company will be updated So how much is the whole debts 125mn 200mn 250mn ect. 27000 pubs and resturants how much do they owe us.owe much do we owe suppliers in total. Mathew clarks got be worth 200mn + but vultures no we in the shit so they will offer below value.with the looks of things there was hardly any private investors as a rule this board should be full of anger today. So whats the value as a sellable company well 1.6bn a yr so if we say 800mn for company laughing i know....184mn shares and they said today there trying to prezerve as much value for all stakeholders were do the shareholders position stand are we at top or bottom of list are we really all stakeholders...the hope is we get a offer for whole company they already said they got inbound bids for the whole company and parts of the company....NEXT FRIDAY THEN.anybody ideas who would want to nuy us and at what price.
Don't feel very convivial towards this company but maybe i go to Bargain Booze stock clearance, buy myself some bargain booze & maybe my "spirits" will improve !
hope you dont mind me saying soemthing, i was going to invest here 2 yrs ago, but it was the huge revenue but tiny profit margin that put me off, anyway. my local bargain booze ha sa sign up tonight saying closed for stock take written in a scrap piece of paper on window. any other shops near you stock taking.??
jl5006,Never kid yourself your the best,your not. Sleep on it and come to your sense's,prehaps another apology tomorrow? Good night.
Snige Not a good post. Looks like you have a a need for a learning curve. Guess you will always guess . You were very critical about one of my posts. Can't blame everyone all the time.
Surely the London Stock Echange should be asking questions of themselves too. They provide these markets and there must be a code of conduct if your a quoted company to inform investors of news at the Proper time, that is not when it's too late
A bit expensive but to them it was peanut money. Think about it,what would really confirm your innocence if the company folded-buying shares in it. What if you came up with a �30m tax bill and PWC confirmed it was human error otherwise you wouldn't proceed with an equity raise. They hedged their bets for this day,either they recieved the funds or they had the perfect alibi. KPMG knew precisely what was going on,the company borrowed far too much on a flimsy balance sheet full of Goodwill and even more goodwill slung into intangible assets.In a tightening drinks market it has zero value. And we thought they were clueless???
Hi all, never posted on this board and not a share holder. Was an employee at Matthew Clark head office for a number of years. Although margins were tight the business was profitable year on year. Went through hands to Champ when they brought it in an accolade wines JV with Punch. Later to be sold again. I am quite in disbelief of Conviviality, I feel sorry for all you investors and for the workers I know. We always considered it to be a sound industry, those with loads or little money would normally spend on alcohol. When I was also there just to add we had Waverly another drinks firm go under, instead of buying out the company. The work eventually came over, as alternatives are very little. It is a possibility the company could be snapped up, but its likely to be at a loss to share holders.
If this company needed a MINIMUM of �125m to continue to trade there is still much that has not been told. Accounting systems can only function and produce accurate figures if there is competence throughout every level of an organisation. Directors and auditors are appointed on behalf of the owners of the business, ie the shareholders. Far too often they seems to believe that they are appointed only to enrich themselves. Auditors should be terriers but too often are little more than poodles. This country has little cause for optimism, post Brexit, without a fundamental change of attitude and adherence to basic competencies. The full story has yet to be told in the case of Conviviality but will not make pleasant reading. Utter disgrace!
I love it when a plan comes together