Forward looking and dedication will make "Jarvis" a name to remember. IMO

Is this the end of JRVS????

no

Yes it is...........see the latest news.

what 'latest news'?

SAM24, Surely you are not suggesting that because the FD has resigned (Assuming this is the so called 'latest news' you are referring to which actually by now is 'OLD NEWS') because he does not want to re-locate to York, then this is the end of Jarvis??!!.........get real!

Don't kid yourself, going down to 4p if there is no new contracts very soon
and I don't see that going to happen, can you??

No Sam, I dont see it going down to 4p either.

I wish I could believe you!!
You have to get real.

it will move back up

Even the press are now confused as to where this is going.

From FT
A three-year journey nears the South Pole
By Salamander Davoudi
Published: April 2 2005 03:00 | Last updated: April 2 2005 03:00

Shares in Jarvis have been journeying southwards since 2002 and are almost at the South Pole. Valued at 827m three years ago, today Jarvis is worth 20m. Since the beginning of this year the shares have tumbled a further 54 per cent as the company has gone through a refinancing, lost its finance director and announced it had to borrow an additional 17m to fund working capital requirements. The control of Jarvis, with debt at about 280m, is now firmly in the hands of its creditors. Management is now looking to do a debt-for-equity swap. The value of the company's debt may be fixed but in such a deal the lower the share price the bigger the proportion of total equity the banks receive. One analyst said: "Jarvis plc may even want the share price to drift lower because the banks want to take 99.9 per cent of the company's equity in the forthcoming debt-for-equity swap." The market is in an "information vacuum" and knows nothing about the performance of Jarvis's underlying businesses. It is very frustrated that no trading updates have been released. The shares closed at 14p. Salamander Davoudi

Jarvis up 20% so far today

I think JRVS is finally recovering.

I've lost a lot but luckily got out in the mid 20's so not that bad. Still holding very small amount. This is going down imo until the D4E has been resolved. Although I'm a holder I would stay clear of these until that issue is sorted, unless you can afford to take a risk.

From UK-Analyst.com: April 13th 2005

Lock up your daughters. Steven "shagger" Norris will be celebrating tonight after Jarvis shares jumped 20%. Well that's probably not true - he surely won't be celebrating, actually. The reason the share price went up was nothing to do with good news - in fact the news was bad. The group's chief operating officer resigned after just 5 weeks in the role. Bears were closing positions as they bet there would be little in the way of bad news to come in the short term. But whether they are right or not remains to be seen.

I noted in the Sunday Telegraph that the D4E swap is under way with a group of American banks and hedge funds,they will control 80% of the company.

be interesting if the hedge funds went t$ts up though.

sequestor.
care to elaborate?

several hedge funds are rumoured to be on " the edge", if they control 80%, and they die, well, interesting?

Bad news indeed.

JARVIS PLC

ON-GOING WORKING CAPITAL AND RESTRUCTURING DISCUSSIONS

The Company notes the recent press report regarding its ongoing discussions with
lenders. Jarvis has reached agreement in principle with Deutsche Bank for the
provision of further short term loan facilities of up to 31.4 million to meet
its immediate and short term funding requirements and also a balance sheet
restructuring, combining a debt-for-equity conversion and subsequent 50 million
equity raising. The proposals are subject to contract, agreement of the
Company's other lenders (which is currently being sought) and will, on signing,
be subject to conditions and approvals.

The precise form of the debt-for-equity conversion is still being discussed but
it is likely that it would leave existing shareholders with 5 per cent. or less
of the equity value of the group following the conversion, depending on the
structure that is implemented. It is envisaged that this debt-for-equity
conversion would be immediately followed by an equity raising open to holders of
the share capital of the group as enlarged by the debt for equity conversion.
The terms of the equity raising would be such that the shares subscribed in this
equity raising would represent substantially all the resulting equity value of
the group. The combination of the debt-for-equity conversion and the equity
raising will strengthen the group's balance sheet and reduce the group's debt to
a low level.

Whilst these negotiations are at an advanced stage, there can be no certainty
that final agreement will be reached.

Contact details:

Bridget Fury, Merlin 020 7653 6620