Don't panic - it's just a share-split.....bringing the sp to about 2.50


EDIT 31 Oct07:-
- Ooh deary me - ROK warns of lower profits . . . . currently 184

What a terrific co this is, sadly I don't hold now but several years ago when they were EBC and around 45p I did.
2517

2517George - are you still looking ?
What did u mean about "EBC" - ROK renamed?

Abt. 1.32 now, = a bit off earlier ratings - - - it's about half - - - Yikes!

Can anyone put some detail on this?

EDIT: 2517George suggests: "'Exeter Building Company' "
- probably explains their West-country Office location.

Bought back in today, smashing co dragged down by the general mkt conditions, several directors have bought since November @ much higher prices than current sp, finals 6th march. Growing via successful acquisitions. They look after their staff and their customers. In this area they have completed much work for various government depts. to a high specification.

'hangon' sorry to be tardy in my reply buy have not been on the thread recently (nor has anyone else for that matter) EBC their former name stands for 'Exeter Building Company' which is quite local to me (40 miles), and I see their vans and more importantly some of their work. They are very highly regarded in their Southwest heartland and over recent years have expanded throughout the country, a recent add on was in Scotland.
2517

My trade has not registered, I bought these through my Halifax a/c @ 102.45p, I use this a/c for monthly purchases as well, it looks like this trade will be 'block bought', like the monthly ones.
Ah well, my deal has been confirmed so it must be ok, just like to see it in print that's all.
2517

Sold out at nice short term profit, will look to buy back if they drop to around the 1 mark, I normally tend to buy & hold but in these markets I have been taking reasonable profits as they arise. Good luck all.
2517

Performing well again today, I missed the boat waiting to get in @ 1 ish. Still the funds were employed on CRA which is also doing nicely.
2517

July08 was the time to buy - I missed 60p too!
Now just a bit over 1, with some talk of increased costs due to closing a division...probably sense L-T, but in these times I still wonder if we shan't see further downs in property sector..

2517GEORGE, I guess you missed this "low" ... it only lasted a few days...

Still kicking myself, hangon.
2517

Oo-er this is nasty; not a reflection on "this" stock - just in General....remember this was 184 late Oct07
- and now 35p -


However, maybe one should say that Execs always think "good-times" are here to stay . . . . . so there is no preparation for difficult times.

Off, Fallen and Cliff spring to mind - and a collection of Directors each buying 450-odd shares(at 23p)... is no more than a slap to retail shareholders, who have lost so much.
EDIT: (18Aug09)-Profits down even after a recession-busting cost-reduction (did they surgically remove some Directors?). yet still sp is 49/51p (=16%down) on 2mSells, 200kBuys.
EDIT(23Jn10)- 2517George - - - - are you still buying "low"? Looks like this rise is Budget-related, but just maybe . . . . PS I may buy on a new Low, since Gov cuts may affect their plans, etc.

Oh deary, 28p . . . . . makes this a strong supporter of the 90% Club - being about 2.40 in 2007-8 . . . this, when money was so-easy.
It's a bit like Taylor Wimpey - another "building-industry" that's fallen hard.

Sun and Hay springs to mind, did their Directors think the good times would last forever...?

Rok on.

buy,buy,buy....

lol..

Worth a day trade a bit like CNT.

hangon-------sorry for the tardy reply, I bought back in a couple of months ago @ 40p, will top up at some point, the ROK work I have seen is first class and I expect them to recover, another bucketful of patience needed.
2517

Just as you replied, the ground opened and ROK fell, er like a stone. What's yr view under these new circumstances.
I'm tempted to buy just a few for a LT profit, currently 17/17.5 - that's more than 90% fall since the May2007 share-split...deary me.
+ I see their vans arround and about...that made me notice.
EDIT(13/8/10)-Thanks George, maybe I'll await the Ann next week.
EDIT (17/8/10)-rose abt 15% over three days from the severe dip - hardly surprising, but ROK cut the Divi - and halving of profits (which were regularly low). - Above mention of layoffs, and potential customers may flee. . . . Maybe wait a tad longer to see if awoken Board really can fix this leaker: Bank Loan until 2011 may become an issue....19.75/20p
EDIT(18/8/10)-miss Ann. Director Buys just 5k-worth, doesn't look good eh?
EDIT-21/9/10)-re Redundancy Etc. The failure of Conaught didn't help, I agree Geo, it depends on h'building-mkt. and refurb contracts.

It appears to be a lax attitude to monitoring the financials at the PHE side, so imv they will recover from that, divi may go, and further recovery is down to the economy. Good luck
2517

hmmmmmm.... interesting - according to sunday paper rok making 150 redundant - city should like that - i am sorry for anyone affected - & tomorrow q1 results out - pretax profit i believe expected down to about 5.7M - better idea imo take a look at ggg today - uplift in gold deposits of 450% according to rns this morning - sp up about 54% as i write this today - i expect / hope for another 50% today!! we will see

Added to my holding today, at this price the co. is valued at 29m.
2517

Your either very brave or....... with a downgrade to sell.... gl.

bb......very stupid? More than likely.
2517

Downgraded to Sell and all directors can do is buy a bobsworth. Mindyou the demise of connaught must be blowing a chill-wind arround building sites.
I thought everyone that wanted to, had already sold?
-just goes to show that fiddling with the share density really is a worthless manipulation.

From the "UPS" thread
keep AN eye

ROK 18.25p

BOUCING after company statement and update " The Board continues to have confidence that the Company will meet market expectations this year" . Strong order book 407K v 287K


MONEYAM CHART NOT WORKING

Uncertainty surrounding the PHE division now removed, nothing untoward regards the FD who has now resigned and been replaced. Good sp rise, mmm a timely top up last week (so far), unusual for me, but I do know from what I see their work is 1st class.
2517

from the ft.com ........

Rok executive quits after being cleared in probe
By Ed Hammond -- September 30 2010 12:38

Rok, the embattled repair and maintenance specialist, has updated the market over the reasons behind its two recent profit warnings and reinstated its finance chief.

The company last month said a line had been drawn under serious failings in the financial controls in its plumbing, heating and electrical business and that it had identified the full extent of the problems.

However, it announced on Thursday that the reasons for the shortfall in activity were, in fact, related to operational and commercial weakness.

The move comes as Rok nears refinancing discussions with its lenders, which include Royal Bank of Scotland and HSBC, and pushed shares in the company 10 per cent higher in morning trading.

In a brief statement, the board of Rok said the scaling back of its work fitting out new homes with piping and heating was the cause for the previously guided lower profit expectations, but reiterated its confidence in meeting market expectations of pre-tax profits for the year to December 31.

The company, which styles itself The Nations Local Builder, also said it would reinstate Ashley Martin, finance director, without reservations. However, Mr Martin tendered his resignation and said the events of the past eight weeks had made his position untenable.

As part of his resignation, Mr Martin has been paid a full years salary of 300,000 and been granted his full entitlement of share options, thought to be close to 750,000 shares.

Rok maintained that it had never insinuated any wrongdoing on the part of Mr Martin and said it regretted any reputational damage he had suffered.

Mr Martin said he accepted the boards apology and added: Reputation is the most important thing, and I have been exonerated from any wrongdoing. This has been the most painful period of my life. I need a short break and then I will be ready to get back to having a career.

Rok confirmed that it had appointed Sean Cummins, a former finance director of Scott Wilson, to succeed Mr Martin.

You cant point the finger at and suspend the finance director and expect him to just shrug and say it is all OK, one analyst said on hearing the news.

When Rok initially warned over the financial control failings in early August, the shares fell 45 per cent to 13p, giving the group a value of just 52m compared with a peak market capitalisation of 436m in 2007.

The downturn in housebuilding activity during the recession has severely affected many companies working in the sector, with building rates coming under pressure and suppliers forced to take on work at barely sustainable profit margins.

Rok also said earlier this year that the poor weather during January and February had hit trading, as its large directly employed workforce had been unable to access building sites.

Directors see value at these levels.
2517

Yes, George2517 and you have bought regularly - - - mindyou this is an own-goal sp created by them not watching the game. If the Finance dept isn't responsible then who is? Looks like they need to appoint a "sack-me" to carry the Can for this shambles.
. . . . This was a Co going places....
I may take advantage of the lowly sp, but (RNS), recent weather seems to have created another slip...oh deary.

Contract win today, keep the faith.
2517

Noticed some significant share buys on 4 October by four Directors [see ROK investor relatons web site for source]
Ian Ellis 04/10/10 Purchase 52,000 @ 19p 9,750
Rob Olorenshaw 04/10/10 Purchase 53,237 @ 19p 9,934
Garvis Snook 04/10/10 Purchase 200,000 @ 19p 38,000
Sean Cummins 04/10/10 Purchase 210,000 @ 19p 39,375.

Garvis Snook also bought 250,000 @ 20p 50,625, on 17 August 2010.

Hmmmm...

Rok plc
Administration

The board of Rok plc (the "Company") announces that it has resolved to put the
Company into administration and to make an application to the Financial Services
Authority to suspend the listing and trading of the Company's Ordinary Shares on
the Stock Exchange. It is anticipated that the administration and suspension
will become effective shortly.

Further announcements will be made in due course.

Quite amazing that only 13 days ago they gave out the following.


Rok wins Tesco home claims business
StockMarketWire.com
Maintenance and building services group Rok says it has been selected by Ageas Insurance and Tesco Underwriting to provide building repair, claims management and validation services to Tesco's home insurance customers.

CEO Garvis Snook said, 'Rok and Ageas have worked together since 2007 and we are delighted to be expanding the relationship by handling 50% of all Tesco Underwriting's building repair claims.'

Absolutely gutted about this one, not to mention a tad poorer.
2517

LONDON (SHARECAST) - Property repair and maintenance company Rok has gone into administration and the shares have been suspended.

The announcement comes after a tough period for the company, which has been hit hard by weakness in the construction sector.

In August it slashed its dividend after a sharp fall in profits in a year that was marred by economic weakness, bad weather and accounting failings in one of its businesses.

The companys maintenance and improvements division was hit by severe weather. In the construction business, Rok has been employing a deliberate tactic of concentrating on profits rather than volumes since November 2008 to minimise risk during the worst phase of the recession.

Rok said its social housing division had not been affected by the change in government. This is in contrast to social housing group Connaught, which has been hit hard by government cuts and went into administration three months ago.

The company also in August suspended its chief financial officer, Ashley Martin, after discovering 'serious failings' at its plumbing heating & electrical business. He was later reinstated, but then quit.

Held a few of these myself, bought recently. Before buying I read [among other things about ROK] their most recent presentation to analysts - they conveyed the view that things were fine. I now feel that they knew that the company was likely to be trading into administration but continued to put out false statements and information up to the end. They might as well just steal the money out of your pocket - what a bunch of liars the board appear(ed) to be!!

Cleared the decks but whats left.

Geogre.........oh dear......glad I listened to myself.,.

scimitar, I was fooled also, thought they were battening-down to ride out the current downturn..... didn't ROK-Directors see this coming -?
Well, their recent purchases of just a few hundred shares might indicate they had no confidence to fill their boots. However, they kept quiet, when they should have been saying..."Caution" - and maybe taken some drastic action long before now...?

I'm really inconvenienced by this.... isn't is possible to believe in Full-List companies.....? Don't their Auditors have to state the obvious...?

BB extremely sad to see a local co go this way, obviously management at fault and fall-out will hurt other co's here, and I've lost money.
2517

A friend of mine's son works(ed) for them and is owed@55k - he also exchanged on his first house last Friday - not a happy bunny!

The human cost is horrendous, puts things into perspective.
2517

bunch of cowboys.

mitzy their work was first class imv, maybe skinny can confirm that, but management who for many years did extremely well with takeovers and the work ethic, have taken their eye off the ball.
2517

Probably expanded far too quickly George.

They bedded the acquisitions in well by all accounts, I see ROK employees working on a local project and wonder just how this has happened. It appears that they owe a lot of co's money. I just don't know what to think or what to believe, I feel for the workers and their families. Hopefully some jobs will be saved.
2517

George et al. I made a fundamental mistake of not listening to my own words! Maybe a moment of forgetfulness, as a result of a L-T interest in the Co.
I'd forgotten the fiasco with their FD and the treatment he received, with much shuffling of (Co) feet.
Back in late Sept 2010 I wrote (qv).
"...Downgraded to Sell and all directors can do is buy a bobsworth. Mindyou the demise of connaught must be blowing a chill-wind arround building sites.
I thought everyone that wanted to, had already sold?
-just goes to show that fiddling with the share density (May2007) really is a worthless manipulation...."

So whilst the Co has been saying all is well, I am complicit in my loss...yet I think there should be something to concern Markets that this happens so much "out of the blue" -
Did the Bank call-in their loan? (-the one that was "safe" until mid-2011)....dunno.

Rok cuts further 1,800 jobs as sale attempt fails

The collapsed construction firm Rok has announced a further 1,800 redundancies after efforts to sell some parts of the business failed.

Administrators PwC said the jobs would go in the maintenance division across the UK and in the construction business in Scotland.

Hangon - somewhat delayed response to your 9/11/10 post. Yes, it seems Directors either don't know or ignore their legal responsibilies - I think the latter. The Auditors appear to be about the same [or incompetent]. How can investors make informed decisions when companies appear to put out misleading information?

Still, we can rely on the FSA to sort things out - see the recent report into RBS which effectively exonerates the Board members [must be large stocks of whitewash at the FSA at all times I would guess].

Have sympathy for the ROK employees and unpaid suppliers and contractors. And the shareholders who relied on misleading information.

since the announcement of public sector costs in all sorts of areas, i am afraid ROK was always a rocky (sorry!) choice, especially after the collapse of Connaught ..... while it is very easy to blame the directors for what you guys call "misleading info", it would scarcely have been a responsible action for them to have cried, "Abandon ship; we're all doomed" while they were assuredly in the process of trying to keep the company afloat

noted cynic - guess we wern't cynical enough!

I was slightly sceptical in fact, but the data provided by the company supported the view that buying was an acceptable risk. Other companies in the sector trade still, eg, Morgan Sindall Group, [err - hope this is not the kiss of death simply mentioning them here in this context]. I still argue that company directors do not appear in some cases to comply fully with the legal responsibilities they have as directors.

On a more philosophical note "Oh well. its only money".