Don't panic - it's just a share-split.....bringing the sp to about 2.50


EDIT 31 Oct07:-
- Ooh deary me - ROK warns of lower profits . . . . currently 184

Absolutely gutted about this one, not to mention a tad poorer.
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LONDON (SHARECAST) - Property repair and maintenance company Rok has gone into administration and the shares have been suspended.

The announcement comes after a tough period for the company, which has been hit hard by weakness in the construction sector.

In August it slashed its dividend after a sharp fall in profits in a year that was marred by economic weakness, bad weather and accounting failings in one of its businesses.

The companys maintenance and improvements division was hit by severe weather. In the construction business, Rok has been employing a deliberate tactic of concentrating on profits rather than volumes since November 2008 to minimise risk during the worst phase of the recession.

Rok said its social housing division had not been affected by the change in government. This is in contrast to social housing group Connaught, which has been hit hard by government cuts and went into administration three months ago.

The company also in August suspended its chief financial officer, Ashley Martin, after discovering 'serious failings' at its plumbing heating & electrical business. He was later reinstated, but then quit.

Held a few of these myself, bought recently. Before buying I read [among other things about ROK] their most recent presentation to analysts - they conveyed the view that things were fine. I now feel that they knew that the company was likely to be trading into administration but continued to put out false statements and information up to the end. They might as well just steal the money out of your pocket - what a bunch of liars the board appear(ed) to be!!

Cleared the decks but whats left.

Geogre.........oh dear......glad I listened to myself.,.

scimitar, I was fooled also, thought they were battening-down to ride out the current downturn..... didn't ROK-Directors see this coming -?
Well, their recent purchases of just a few hundred shares might indicate they had no confidence to fill their boots. However, they kept quiet, when they should have been saying..."Caution" - and maybe taken some drastic action long before now...?

I'm really inconvenienced by this.... isn't is possible to believe in Full-List companies.....? Don't their Auditors have to state the obvious...?

BB extremely sad to see a local co go this way, obviously management at fault and fall-out will hurt other co's here, and I've lost money.
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A friend of mine's son works(ed) for them and is owed@55k - he also exchanged on his first house last Friday - not a happy bunny!

The human cost is horrendous, puts things into perspective.
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bunch of cowboys.

mitzy their work was first class imv, maybe skinny can confirm that, but management who for many years did extremely well with takeovers and the work ethic, have taken their eye off the ball.
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Probably expanded far too quickly George.

They bedded the acquisitions in well by all accounts, I see ROK employees working on a local project and wonder just how this has happened. It appears that they owe a lot of co's money. I just don't know what to think or what to believe, I feel for the workers and their families. Hopefully some jobs will be saved.
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George et al. I made a fundamental mistake of not listening to my own words! Maybe a moment of forgetfulness, as a result of a L-T interest in the Co.
I'd forgotten the fiasco with their FD and the treatment he received, with much shuffling of (Co) feet.
Back in late Sept 2010 I wrote (qv).
"...Downgraded to Sell and all directors can do is buy a bobsworth. Mindyou the demise of connaught must be blowing a chill-wind arround building sites.
I thought everyone that wanted to, had already sold?
-just goes to show that fiddling with the share density (May2007) really is a worthless manipulation...."

So whilst the Co has been saying all is well, I am complicit in my loss...yet I think there should be something to concern Markets that this happens so much "out of the blue" -
Did the Bank call-in their loan? (-the one that was "safe" until mid-2011)....dunno.

Rok cuts further 1,800 jobs as sale attempt fails

The collapsed construction firm Rok has announced a further 1,800 redundancies after efforts to sell some parts of the business failed.

Administrators PwC said the jobs would go in the maintenance division across the UK and in the construction business in Scotland.

Hangon - somewhat delayed response to your 9/11/10 post. Yes, it seems Directors either don't know or ignore their legal responsibilies - I think the latter. The Auditors appear to be about the same [or incompetent]. How can investors make informed decisions when companies appear to put out misleading information?

Still, we can rely on the FSA to sort things out - see the recent report into RBS which effectively exonerates the Board members [must be large stocks of whitewash at the FSA at all times I would guess].

Have sympathy for the ROK employees and unpaid suppliers and contractors. And the shareholders who relied on misleading information.

since the announcement of public sector costs in all sorts of areas, i am afraid ROK was always a rocky (sorry!) choice, especially after the collapse of Connaught ..... while it is very easy to blame the directors for what you guys call "misleading info", it would scarcely have been a responsible action for them to have cried, "Abandon ship; we're all doomed" while they were assuredly in the process of trying to keep the company afloat

noted cynic - guess we wern't cynical enough!

I was slightly sceptical in fact, but the data provided by the company supported the view that buying was an acceptable risk. Other companies in the sector trade still, eg, Morgan Sindall Group, [err - hope this is not the kiss of death simply mentioning them here in this context]. I still argue that company directors do not appear in some cases to comply fully with the legal responsibilities they have as directors.

On a more philosophical note "Oh well. its only money".