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.

ta hilarsky.

This has been a good short 4 me... but I think this has great potential of going up now...
So it's BUY time for CNT at 39p.

Now out

Broker Collins Stewart had it as a sell yesterday at 34p.

City watchdog launches probe into Connaught
LONDON | Tue Jul 27, 2010 5:29am BST

LONDON (Reuters) - The Financial Services Authority has launched a wide-ranging probe into social housing services company Connaught Plc, over several issues including a failure to provide potentially price-sensitive market data, the Financial Times reported on Tuesday.
http://uk.reuters.com/article/idUKTRE66Q00320100727

HSBS has sold >6m of its holding and another company whose name i didn't recognise dumped their whole 1m holding

for myself, am happy to be short again

I took a small position today (short side). IMO any rescue deal will be that - priced as a 'rescue deal', in other words a huge debt for equity swap. I'll see this to single figures from this position.

will this affect Mears? i really dont wanna eat my hat. i may have to of course.
such is the market. anyway my boring stock is Booker. LoL is it headed same way? i have know idea.
regards
jkd

Post 83 & 84 tells me we could see a huge drop again todaytoo hot for me!

except that they have just secured funding, though it is only a stop-gap as you will see below .... why is it that other really worthwhile small/medium companies would be immediately shut down by their lenders? - no answers required i'm afraid

Agreement On Financing.

In its announcement on 26 July 2010, Connaught said that it was in constructive discussions with its lenders to secure additional funding. The Company is pleased to announce that it has now agreed with its lenders the terms of an additional 15 million, short term overdraft facility, together with deferral of interest and principal payments due on its existing facilities in July and August. The overdraft facility is available immediately. This facility will be in addition to its current facilities of 200.6 million.



Connaught will continue negotiations with its lenders in the coming weeks with the objective of securing, in due course, a restructuring of our financing for the longer term.

sticking plaster over a gaping wound, will add to short position, short term saved and long term finished.

for once you and i are pretty much in accord, though there'll be a big jump in sp this morning

jkd - re post 86. Look at the Mears announcements on the 25th & 28th of June.

missed a trick not shorting an awful lot more of these ...... not sure i'll have the time to do so in the morning before setting off for the airport to come home

looks like a "dead parrot" reportedly BARC has sold its exposure for 37% of its face value.

i saw that and hadn't realised what a (relatively) small value i had shorted ...... only obvious danger is if some dumb clutz decided to buy the company

cynic with all that debt and a negative NAV you would have to be crazy.

like a dumb clutz lol!
i may well double up my short in the morning, or at least that is the temptation even if done as a phone order with its obvious dangers

I think the sp is seriously heading south but I can't see this company going bust. I think it will ultimately find the finance.