red = 25dma
green = 50 dma
black = 200 dma


The Telegraph says the banks like Southern Cross Healthcare, and so it seems to have an almost endless supply of new capital. It recently secured �300m to fund acquisition plans. It also develops its own sites and hopes to add 1,000 beds this year. A good operator with a proven model, Southern Cross is well worth buying.

annual reports etc available from www.schealthcare.co.uk


have just bought for myself at 355

shorters have them by the.....

indeed it does, though i guess there's a chance that some white knight will happen along

http://www.white-knight.co.uk/Home.aspx

now we know what you do - proposition MILFs

I'm long.

Bid rumours 35p.

if a bid truly comes in at 35p - in itself a poor reason to buy - your upside is currently only about 5p - inevitable discount for uncertainty and timing issues

Good days action.

Back to 15p again.

?????

Southern Cross crucified!
company is dead in the water - read RNS put out this morning

Not much further to fall.

aldo - post 149 - if what you wrote was correct, then i'm glad i'm not your bank manager ...... at least mitzy only invests 500 at a time (i think)

I fear nothing left for small investors

Time to buy SCHE... very cheap now.


Elderly campaigners, charities and union leaders warned that the threat of collapse at Southern Cross Healthcare would be a catastrophe that could threaten the lives of residents at its 750 homes.

In response, Downing Street offered a guarantee that elderly and disabled people in Southern Cross homes would not lose out, but declined to say whether any emergency funding would be available.

The crisis comes as the public spending watchdog, the Audit Commission warns that the quality of services for elderly people will be under further threat as councils are forced to negotiate lower fees for private care places.

Southern Cross, which made a 311 million loss in the six months to the end of March, has blamed its problems on reduced council spending on long-term care. The group announced this week that it will be forced to cut the rent it pays to the landlords of the homes it runs by 30% for four months.

Saga, the over-50s group, called on ministers to draw up an urgent rescue plan for care homes in trouble. Ros Altmann, Sagas director general, said: The government and local authorities may have to step in and take control of the situation.

Lives could be at risk as a result of Southern Cross collapsing.

The GMB union, which has around 12,000 members working in the care homes, urged politicians across the UK to take action to help secure the future for the staff and the residents.

General secretary Paul Kenny said politicians must sort out the uncertainty the residents face. These are not factories facing closure, they are a vital part of the social fabric of every community, he said.

The Prime Ministers official spokesman gave a guarantee that affected residents would not lose out.

We are clear that we are putting the interests of residents at the top of the list, he said. It may well be in their interests to keep them in the same place. But I think we have to look at that very carefully and we have got to let this process continue with the company and the various other interested parties.

However, he declined to discuss whether there was any contingency in care budgets to cover extra costs. Southern Cross is in talks with its landlords, who could force the group into deeper trouble if they refuse to agree to the rent cut.

Jamie Buchan, chief executive of Southern Cross, said he believed the company would survive, with fewer homes, but there would be no need for a government bail out. He told The Daily Telegraph: I dont think the Government would or would need to provide financial support.

Worth 2p or 3p at the most.

God - these were 6 3 years ago and perceived as safe!

I remember SCSW tipping them at 400p and look at them now.

I bet a few people have lost their shirt

at least when i started this thread there was still plenty of upside!

Cynic - its quite funny when looking at the chart in the header, coupled with the last line of your opener. "have just bought for myself at 355"

indeed - forgot it updated automatically!