We would love to hear your thoughts about our site and services, please take our survey here.
Can't remember who was saying that Kier are doing quite a bit of work in Cornwall?
Anyhow, doesn't sound as though its going too well...
https://www.constructionnews.co.uk/contractors/kier/kier-face-1-2m-damages-claim-a30-roadworks-delays-20-11-2019/
Hold on, just one second, is this the same Barry McNicholas the former CEO of McNicholas, who were bought by Kier for a reported 24million in July 2017?
50k?
Same fella?
"Met84
You were spot on in last post"
Thanks, although I do note the remuneration report was not approved by shareholders.
It seems like a sensible decision to me and should focus the Directors towards what their primary focus should be; ie. Get the debt down, not lining their own pockets.
With all these directors going, I should think Kier will be hoping for a Labour government.
That way someone else will be paying for ex-directors broadband bills.
"With the non event rns announcement today the SP going up can only be more Shorters closing out."
So, when the shorters stop buying shares back, who will the main buyers be?
Its an interesting theory.
But it relies on the entire content within the "Strategic review conclusion & indebtedness update" dated 17th June 2019, being incorrect.
Basically they would be saying 'you know the strategic review we undertook 6 months ago well it turns out our conclusions and strategy to deal with the indebtedness were wrong. Oops. Can we have another pay rise please?'
Cheerio 'Debs'
https://www.constructionenquirer.com/2019/11/15/interserve-restructure-paves-way-for-possible-break-up/
What 'news' do I expect from the AGM?
None whatsoever.
Most likely there will be votes on remuneration, re-election of officers etc (which will btw get through because most PIs don't bother to vote)
The likelihood that they are sitting on some sort of news specially for the AGM is pretty unlikely.
If you are expecting big announcements, I think you will be disappointed.
Beg your pardon, you can add Tempsford Hall to your list of fire sales
"Kier already sold regional office £50M"
Its been put up for sale.
But not actually sold as far as you know.
Bottom line is this:
Debt is too high.
This is not scaremongering. Look to the words of the board following the strategic review, 17th June:
"the Group today has debt levels that are too high"
The boards words. Not mine. Not scaremongering.
To that end they decided:
"Kier Living is non-core and has commenced a process to sell the business."
What has followed has been a number of statements saying that there have been "expressions of interest" and such like.
But no sale.
I think the market has bought this for a while, particularly after the "Post Close Update" in August. But since then nothing.
No sale.
It looks as though the market has called the Boards bluff here. Kier Living has not been sold and no bid has been received.
Keep seeing people puzzling that 'the SP has gone down on no news'. Well that is EXACTLY the reason it has gone down. The market wants news that Kier Living has a bidder.
Anything short of this and I expect the market to draw the conclusion that the board will have to find another way of raising cash to deal with the problem that the "the Group today has debt levels that are too high". The SP will likely adjust accordingly.
They are busy cleaning up their own ****.
Literally.
https://www.bbc.co.uk/news/business-50401780
Looks like there will be more blood spilled today.
Wonder if anyone here took Bill's very sage advice the other day?
Well its down what, another 5p? Since my last post.
So yes, that "news" has not had the impact that you anticipated. Has it?
Order book schmorderbook.
The debt is the problem, not future works.
"Dark Art"
Nothing artistic about losing thousands or even millions running contracts.
"It wasn't that long ago the sp was mid 60p ..."
Then on the 1st August an RNS was released titled "Post Close Update"
It did steady things.
Was that a one card trick?
Unless there is positive news regarding Kier Living and it appears many have concluded that there won't be.... the board will have to come up with something else.
Will be interesting to see what rabbits will be pulled out of hats at the AGM to justify 175% bonus.
If the shorts are buying up stock, what support will there be when they have finished?
The market does not appear to share your belief.
https://www-thisismoney-co-uk.cdn.ampproject.org/v/s/www.thisismoney.co.uk/money/news/article-7668501/amp/Pay-revolt-set-engulf-Government-contractor-perks-laid-bare.html?amp_js_v=a2&_gsa=1&usqp=mq331AQCKAE%3D#aoh=15734149487864&referrer=https%3A%2F%2Fwww.google.com&_tf=From %251%24s&share=https%3A%2F%2Fwww.thisismoney.co.uk%2Fmoney%2Fnews%2Farticle-7668501%2FPay-revolt-set-engulf-Government-contractor-perks-laid-bare.html
Interesting info here.
I thought the IRV Directors were having a laugh collecting 125% bonuses for taking the company into pre pack administration, but any IRV can do, Kier can do better....
175% bonus.
One. Hundred. And. Seventy. Five. Per. Cent!
For a guy who has come in and told the market what a lot of people having been saying for free; that kier needs to reduce debt.
Wow.
"In a report to investors, ISS has recommended a vote against the pay policy because Mursell’s successor, Andrew Davies, could be paid a long-term bonus of up to 175 per cent of his salary – which could equal more than £1 million."