.

The RNS today talks of "strengthening Management" and also of "breaching Banking convenants" - after they "reviewed" their Position...etc.

[[ Edit: - don't get me wrong, these look like the right people, but will they be working full-time with several other jobs between them? Also they will need to be paid a fat "bonus" no doubt and still their equivalents are still there at CNT (what a nice EPIC), being paid, pensioned and sucking up to the Chief Honcho....which is where the problem rests, clearly not up to it...what other explanation? - (at least with BP there was an unexpected accident..etc. etc.)....time will tell, but these (cnt)-EXECS should depart swiftly. Er, IMHO . . . . DYOR.]]

Yet the chief Bounder is still there... the Banking issue should have been seen coming - the Market did and got shot of these dullard stocks......meanwhile Execs eat more caviar and ordered the peasants to turn the (hog-roasting) spit faster....
If you wanted a Model for bad practice, this would be a good starter.
=At what time did they realise the Blair/Brown public money-flow would stop...? Surely, when the profits are flowing they would make provision for bad times? - Maybe "spread their risk" - do Execs pay lip-service to good practice, or are they like a drug addict...hooked on more, mOre, More?

Debt for Equity is the likley outcome, with Banks being forced to support this outfit, if only to get earlier lending back. So any stock you buy now will likley be diluted...so the price=paid should be multiplied by TWO say, to reflect the actucal value received. Currently abt. 38p so maybe you're really paying 75p-ish....bargepoles.

And these were 4 not that long ago........Grrr, - for anyone that liked the Sector.

If a deal is struck with RBS their bankers, I would have thought that a condition of it is that the board/CEO/financial director go straight after. They're probably only staying to broker the deal

Don't own but I took the gamble and made money yesterday/today.

Read today a hedge fund has lost 70m trading CNT.

My heart bleeds for them

.

make that miaow with knobs on

Made my day Mitzy

lol.

.

And lets be fairCNT is only one letter short of a hedge fund..

.

.

Lloyds stands by stricken Connaught

By Alistair Gray

Published: August 12 2010 01:36 | Last updated: August 12 2010 01:36

Lloyds Banking Group has decided not to follow Barclays in disposing of its debt exposure in Connaught, saying it would stand by the stricken property services group in its hour of need.

The bank, a junior member of a lending syndicate led by Royal Bank of Scotland, confirmed on Wednesday night that it would not start selling off loans it has made to the FTSE 250 company.

http://www.ft.com/cms/s/0/550ecb90-a5a0-11df-a5b7-00144feabdc0.html?ftcamp=rss

http://stockpromoters.com/penny-stock-traders/index.php/2010/08/12/uk-lloyds-stands-by-stricken-connaught/

I think Lloyds are after some brownie points after the Mervyn King attack on our helpful Bankersdid he say stinginess of bonus driven bankerssurely not?
lol

shame they don't back smaller and viable businesses which just have cashflow probs

lloyds imo are standing by cnt so that when the debt for equity swap happens (if it does) there will be something left of cnt to t/o - shrewd move especially with other lenders dumping

they may reckon their pain is already so significant that a bit more won't notice

PR exercise...nothing more...and what are their alternativesfcuk all and less than!

cynic - very good point hadnt thought of that

tab - indeed mate

had a little cnt tickle this morning bought just over 17 got out real quick just over 18 - small profit for a few beers!! i didnt want to be hanging around here right now!

all reports look grim for cnt imo - keeping an eye on rok also at the mo - i prefer the oilies though as i suppose many do also

take a look at hampson - hamp
similar to cnt without the risk - i have also posted there and had a small punt on hamp

imo of course! ref hamp

gibby stay clear of Hamp.

mitzy do you mean the banking covenants ref hamp - i dont see that as a problem and they will still report a profit - i know it is a risk but less of a risk than cnt imo - however thanks for the advice i am keeping a close eye on hamp - cheers

less of a risk than CNt I agree gibby.

CNT looking very flakey indeed ..... now down to 15.86/15.97 and 2:1 sellers to buyers

FILL YOUR BOOTS ITS OFFICIAL.

Fiona Bond
12.08.10 15:24





Lloyds Banking Group (LLOY) has pledged to stick with struggling Connaught (CNT) in its hour of need, after it emerged that a handful of investors have cut their exposure to the group.

The part-nationalised bank has said it would not sell off the loans it has made to the property services group, stating that it was "committed to supporting our customers, not least when they are in financial difficulties".

Lloyds argued that by retaining its stake in the FTSE 250 listed company it offers it the best chance of "securing its future" after its value plunged by some 13 million in recent weeks.

The vote of confidence came as it emerged that hedge fund Breeden European Partners has almost halved its stake in the group, while asset manager Toscafund and Norway's national bank Norges have both sold down their stakes.

Breeden European, founded by former chairman of the Securities and Exchange Commission, Richard Breeden, had declared a stake of 13%, or 18 million shares, at the start of July but a stock exchange filing yesterday revealed it had disposed of eight million shares at the close of last week, as Connaught reported that it would make a loss for the year.

The stricken group said it would be forced to write down the carrying value of assets as at the end of August, and make provisions for future losses on current contracts.

Breeden first took up a stake in April, when the share price was pegged around the 275p mark, and went onto become its largest shareholder.

The company has faced a downward spiral over the past two months, after it issued a profit warning and said it was in need of funds.

It was the first large state contractor to buckle under the pressure of the cuts announced in George Osborne's emergency Budget in June and warned that 31 contracts would be impacted as local authorities made changes to their capital expenditure budgets.

Its shares were up 11% to 17.25p following Lloyds' backing.

http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10107014

fill your boots with cement if you buy ..... lloyds cannot rescue CNT on its own, and that even assumes they come to the conclusion that saving is the best option

lol

lloyds said 'it offers it the best chance of "securing its future"' - however that probably means that lloyds and other lenders will own cnt - with nothing left for shareholders or if lucky offer a penny to the pound - i would not hang around here
to those that do - good luck i am more than happy to be proved wrong if it helps someone else make some

good point gibby ..... i am more than happy if sp tumbles to <1p

the comment in this week's Shares Mag re CFD's was basically incorrect ..... i'll write properly later

Breeden has bailed out to less than 3% now, CNT will drop from 16p now.

reverting ..... IG says that in the event that CNT goes into admin, then though one may have to wait a while, then even if there is zero for unsecured creditors, then you, as a shorter, gets the lot - eventually .... this applies to CFDs but assume same for s/b too ..... hope that made sense ..... check with your own !"broker" as rules may differ

completely different from what shares mag said!

Bankers were mighty careless when it came to running their own business....and can't afford top lose a big wad on this one. When you owe a Bank 10m then they listen to you.

all looking very weak here yet again ..... sellers/buyers currently 3:1

cynic - this drop to <1p - i would probably buy some!! for me at the moment keeping away - took my risk bought some - made some - out for now - future imo not that good for cnt, most likely imo belong to lenders or break up
their customers already looking for other suppliers to take over current cnt contracts so i feel a lack of confidence which is not good for cnt imo

depends whether you are long or short!
debt for equity leaving sp effectively at +/-0 would be just dandy for me

cynic thats true & understood reff +/-

i am sure all are aware ref kdd - but in case not:
'Firestone Diamonds offer for Kopane recommended
StockMarketWire.com
AIM quoted Firestone Diamonds plc has made a recommended all share offer for Kopane Diamond Developments.

The terms are 0.4657 of a New Firestone share for every one Kopane share.

The acquisition represents a premium of 33.33% to the closing price of Kopane shares of 12.75p on 20 July 2010 and a premium of 44.68% to the price in February when the offer was first mooted. '

still take some weeks imo hoping for sp to increase soon probably gradually imo

whoops
http://www.investegate.co.uk/Article.aspx?id=201009070730022580S