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

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

it seems they want back all your shares for nothing
i nearly bought these too,

Jarvis going up everyday,any one know why !!

Olympic construction projects, remember Norris has alot of contacts in London.

What is happning !! it's going down since yesterday any one know why ?but few buyer today!

MM playing games, sp just shot back up.

Any comment please:
How far can it fall?
How many times have the restructured/issued shares?

http://www.companyannouncements.net/cgi-bin/articles/200507181200009799O.html

This thread is now: Jarvis Won't survive ( it won't will it?)*
C'mon guys, don't be so negative, there's still the prospect/excitement watching their Auditors (of past years) squirming-about explaining why they managed to overlook what was like the chip-pan catching fire when the locum chippy was sweeping the floor, to create a good impression.
When will Auditors work in the interest of shareholders, Customers, Employees and the Government (as tax-receiver and Dole-provider)? - until this nettle is grasped we must expect major companies to fold regularly, with considerable fall-out. At least when a tiddler goes it doesn't affect a whole City. Marconi, Mayflower - the list gets longer.
*(Course it won't - who would give them a contract and be willing to pay a fair price? - deals they'll attract are cash-on-completion, if you please)

http://www.indepen.co.uk/weeklynews.html

Jarvis investors approve rescue
Shareholders of Jarvis, the engineering services business, have approved a financial restructuring scheme that hands 95 per cent of the firms equity to its creditors in return for the cancellation of 350m of debt. The company had warned it would implement the plan, which it sees as the only alternative to insolvency, even without the blessing of investors.
Jarvis has announced the appointment of Richard Entwhistle, former director of the rail business of its rival Amey, as Chief Operating Officer.

isn't this a pretty risky move for somebody to leave the somewhat more stable environment of Amey? I'm thinking he must be fairly certain the company will survive.. could there be a recovery opportunity in the offing? any thoughts??

jk9: Not strictly a recovery stock. Theirs is a strategy for survival with a mediocre future and little scope for small investors seeking an exciting ride.
sd.

They don't need money anymore. Good U trurn.
http://www.moneyam.com/action/news/showArticle?id=1004585

Jarvis says will keep highway maintenance business previously earmarked for sale

Lovell has bought a big chunk of JRVS also - so does he feel lucky?
Well maybe, but then he felt lucky enough to get into JRVS a while ago and look where that got him.......the real problem IMHO is "who will give them an order?" - I doubt if they'll be working on the railway for a while and their reputation in schools is poor to say the least - So where does JRVS excell, where can they pick up a fat contract and perform well, quickly and satisfy the client?
Answers on a very small postcard (please remember the stamp) - I just don't know - they have shown determination to be rubbish in all departments - unless I'm overlooking some new business-angle that has eluded me - or there is an angle that needs incompetance and is willing to pay for it.
No? - Well that's it then, expect the sp to halve until they get a better reputation - and if Retail is anything to go by - you build a good reputation over many Years and a bad one over as many Months.
I used to hold JRVS in the hope of recovery.......not any more.......but good luck to all who sail in her.

Ooops !!!!!!!!!!!!

fairly well overdone... possibly... maybe...???

BigTed
Possibly I'm not going near it to volatile could go to 6p or 60p ?

Oh dear 20p - it doesn't get much worse than this ( answers on a postcard, pse)....yet today there seems to be a DCB.

The RNS suggest this year is material below - - with a substantial loss.....and it also say the Gov and Railtrack is committed to an on-going program of mainteneance -
SO why should anyone think this means "Jarvis"..?
If that's what the Directors mean then they've bungled it again - - - but I suspect they chose their words correctly - that is there is NO Contract in place which means JRVS will be OK this next year - - - they will have to make long and expensive bids for this work - which is shorthand for "unprofitable"

So, holders, out there - - - - Do You Feel Lucky ?

It's about time the Drectors resigned, without bonus, severance, or any other goodies - just Go, - - Please.

Bad day for Jarvis down another 10%