bought a few of these a week or two ahead of their Interims - have moved up ever since :-)) but believe there is still some way to go yet - currently 31/33p they go xd on the 26th feb.

I see capital group are still adding - another 2.7 million shares - making 20 million in total or 6.15%



ains

Ashtead ponders replacing PwC as its auditor
By Edward Simpkins (Filed: 16/03/2003)


Ashtead, the troubled tool hire business, is considering replacing PricewaterhouseCoopers, the accountant, as its auditor following the discovery of accounting errors that caused the group to overstate its profits and default on a bank loan.

The announcement of the errors and the non-payment of interest on the loan caused Ashtead's shares to plummet by 84 per cent to just 4.5p last week.

Sources close to the company say that as well as looking at its own systems, attention is also on PwC's role as auditor.

Questions are being raised about why the accounting problems were not detected earlier. Ashtead has brought in KPMG to investigate the problem.

Ashtead said: "KPMG will investigate firstly what exactly happened in the US subsidiary, where the accounting problems arose, and secondly how it was allowed to happen."

The preliminary findings of the inquiry will be presented to Ashtead's bankers later this week.

The default related to the company's 200m revolving credit facility which has to be renewed every three months.

One of the conditions of the renewal is that Ashtead has to certify that its accounts show a true and complete picture of its financial health - something it was unable to do.

The Ashtead spokesman said it would be "premature" to say that a decision had been taken to dispense with PwC as auditor.

The Ashtead board, led by Henry Staunton, the chairman, who along with Alan Wheatley, the deputy chairman, and Ian Robson, the finance director, are all former partners of PwC, will make a decision after seeing their bankers.

On no, that caps it all, PWC were the auditors !!
Its the UK's very own Anderson.
LOL

I've been trying to buy and can only get 400 worth. Come on MM's - open it up!

Crazi...

Finally got 50000 at 4.75. Pissed off I couldn't get a quote at 4.5.... Well at least we are moving north again.

Crazi....

The banks won't shut them down over 5m. Expect banks to provide short term support with stricter guide lines. Short term support will take this price back to 10-15p...IMHO

Crazi....

anyone sold yet whats the concensus back to 20p short term i see funds been buying

biffa sure and with the markets performing in the + direction maybe much more.Excellent dividend too !

On the move again this morning .... after a early morning mark down .... back over 7p :-))

Still recovering - quite a few early morning buys - now 8/8.5p - staying with mine :-))



ains

ains , you have the Midas touch, I will follow your lead on this one for sure.
I have just bought 121 ,918 of them

Q

TOO GOOD TO MISS , JUST NEGOTIATING ANOTHER 149,000

Another two ticks up as vol hits 3 million - now 8.5/9p



ains

I got the number I wanted , but had to split into several small chunks to get the touch price, now hold 0.75m of these, and may add more later. We are going to clean up on these ains, well done.

now up 12.5% on the day with over 7 million traded ..... looks like good news is on it's way



ains

Over 11 million shares traded now - still up over 9% but off the intraday high - should start moving north again after the expected profit taking has ended - now 8.5/9p



ains

Looks like the profit taking is over now ...... 13 million traded - 8.5/8.75p




ains

I think a little back-sliding may happen today/tomorrow, possibly down to 8p mid, prior to a boom up to 20p in a month or so.
I am happy with ains to hold my 3/4 million, and will make that up to a million or more ,if the price does fall to this level.

As I suggested - we are ticking up again - 8.85/9.25 14 million traded


ains

Oh, I was wrong ,good old ains, is he ever wrong?
My first batch are up seven and a half % already, yahoo.

March 21, 2003

By Nick Hasell

Bid speculation fuels interest in Ashtead



ASHTEAD GROUP continued to rally off last weeks low amid talk that the troubled, plant-hire operator has attracted a new venture capital bid approach.
The shares collapsed 83 per cent last week after Ashtead followed the admission of accounting irregularities at its US Sunbelt Rentals subsidiary with the revelation that it had defaulted on its banking facilities worth an estimated 230 million. Today, the company is due to meet its lenders, which are led by Lloyds TSB, the Bank of America and Citigroup, to find ways of restructuring its banking facilities.

However, Ashteads share price advance yesterday, up p to 8p, against last weeks 2p low, was fuelled by bid speculation. Ashtead disclosed in September that last April it had received an approach from two venture capital firms acting in concert, which the group had seen off without a firm offer having been made. Given that Ashteads shares now trade at one quarter of the level they were then, and that it is still expected to achieve sales of more than 500 million in the year to April 30, dealers reckon those original bidders have now returned. The FTSE 250 added 17.5 points to 4,051.8.