Now, this one was just awarded the Aim company of the year. Its a bit likeMears but it has a large GAS SERVICE section and the profits from this outfit would appear to be less healthy than from its Public Service arm. Does anyone have any knowledge of this company which is not cheap BUT could be on its way to making a lot more mazuma.

it's dead! ..... RNS says no money forthcoming ...... hope none of you guys are long here

"On 29 July 2010, Connaught announced that it had agreed the terms of a short term overdraft facility. Since that date Connaught has had continuing discussions with its lenders and other sources of finance with the objective of securing additional funding and a restructuring of the Group's financing for the longer term.

The Group now believes that the availability of additional funds from its lenders will not be forthcoming and, whilst it remains in discussions with other parties, the ability to provide an adequate solution to the funding issues the Group faces has become increasingly uncertain. Accordingly, pending clarification of the Company's financial position, Connaught has requested a suspension of the trading of its shares on the London Stock Exchange with immediate effect."

The only winner here is EK.

And the loser is dealerdear.

EK et moi! though in a relatively modest way, but assuredly not to be sneezed at

Inevitable it would collapse at the end and plenty more to follow I reckon.

.

(s)he only buys in lumps of 100 so of questionable value ..... u might however like to take a peek at SCHE for a gamble in one direction or another

May be Mears and Rok will benefit to some extent from the demise of CNT.
2517

Hi mnamreh.... none that come to mind except Cosalt which is adead cert for administration imo.

Excuse me, I don't hold milly.

I did say I would be surprised if it went into admin but there was no way I'd take the chance and trade it.

Fair enough dealer.

.

I love the title of this thread ;-)

Another one bites the dust...

S
be fair, that was 4 tears ago. a lot can happen.and obviously did and has.
h98.
hope i aint next with mine.the boring one that is.must keep those stop losses going and reviewing.its still no guarantee but it does help. in my opinion.
regards to you both.
jkd
Addendum: see my post no.22 page 2 ref the need for discipline in using stop losses.
i still succumbe on occasions although i should know better. getting better though. LOL

I actually agree about Cosalt which is sounding alarm bells but that wont stop
punters chasing them.

Makes you wonder why people chased Connaught when there's cash rich no debt
stocks trading on multiples of under 5, plenty of them as well.

Acquisition of social housing contracts from Connaught

Morgan Sindall Group plc ("The Company" or "Morgan Sindall"), the construction and regeneration group, today announces that its Affordable Housing division, Lovell Partnerships ("Lovell"), has reached agreement to acquire the majority of the ongoing contracts and their related assets of the social housing division of Connaught plc, allowing essential maintenance services to continue without interruption. Around 2,500 employees connected with the ongoing contracts will transfer to Lovell as part of the agreement.

A total cash consideration of 28m has been paid for the assets, which represents a discount to their net book value. The payment has been made from the Company's existing cash resources. At 30 June 2010, Morgan Sindall had net cash of 138m and the Group will continue to have a strong financial position following the acquisition.

The acquisition is consistent with Morgan Sindall's long-term strategy to achieve leading positions in its chosen markets. The acquisition will significantly enhance Lovell's market leading position in the affordable housing sector and creates a national, full-service business delivering planned and reactive maintenance as well as new-build social and open market affordable housing. The new contracts are expected to generate approximately 200m of additional annual revenue, split broadly between response maintenance contracts and Decent Homes, planned maintenance contracts.

A result for them then.

won't make any difference at all to unsecured creditors