Kingston Communications is an established UK communications company. The Group's national business-to-business capabilities encompass the provision of fully integrated and managed network solutions, complemented by the delivery of voice, data and call handling services in the towns and cities served by the Kingston Communications network. This infrastructure comprises twenty-five metropolitan fibre networks and a long distance broadband network, which was initiated for service in May 2001. Kingston's new media activities include the DSL-based interactive television service, KIT, and satellite broadband content, storage and distribution arm, Kingston inmedia. The Group's East Yorkshire network operation has served business and residential customers since 1904.

I think the spreads have widened, because they just don't have enough stock!

That sounds promising!!

KCOM to upgrade Yorkshire Building Society's network

Unbelievable...

LONDON (AFX) - Kingston Communications PLC has agreed to pay its former
chief executive Steve Maine almost 400,000 stg in compensation for loss of
office, following months of negotiations at the Hull-based telephone operator,
the Daily Telegraph said without citing sources.
The news could spark a public relations disaster for the company in the East
Yorkshire city where more than 70,000 locals bought shares in the group's 1999
flotation at 225 pence, three times the current price, the paper said.

KCOM are so frustrating!! They have reasonable fundamentals (apart from the debt), a virtual monopoly in the Hull area and there is no reason why they shouldn't follow the rest of the telecoms market up. But they don't. And then they do this. Makes you want to scream! Still, too far in to get out now....

I've managed to get hold of a graph comparing KCOM against the rest of the TEL sector over the last 12 months. But can't post it. It has even done better than the FTSE over the same period.

So over the last 12 month KCOM has been one of the best performing shares in the sector.

Over a couple of years they are not - but that was because they originally way outstripped the rest of the sector and had further to fall!)

Updated the charts to compare KCOM against the sector

It is thought that Steve Maine could be in for as much as K760 2*K380 payments the 2nd one payable in 6 months time dependant on him not taking a job beforehand (reported in Business Telegraph) That is not a bad reward for leaving the company. I just hope that I will eventually get a reasonable return for investing my cash in the company. Of course many locals showing large losses in their holdings, bought at flotation, will certainly resent this seemingly astronomical payout.
I have some faith KCOM suceeding in the future but the present management has a lomg way to go to bring back the goodwill of many investors.

We'll find out for sure, hopefully when the results come out, which is soon. (I'm wondering if someone leaked the info from seeing the draft docs.)

Hi LW
I really do think you deserve to be on MoneyAM's paroll you never seem to leave your post, always there with a usefull contribution. On the other hand I'll bet you don't get much value out of your T.V. licence!!!
All the best
optomistic

thanks optomistic - it's OK I just video everything, and watch it later! Just as well I don't need (?) much sleep!

- It's tuesdays tommorrow - Once I leave home I don't have access to the internet until I return really late - and if I leave before market close, I'm too tired when I get in to log in!

Kingston Wins Two-Year 1m Contract with SSL International - for more info go to:
http://www.kcom.com/news/2004/news261.shtml

KCOM is starting to look more interesting again.

Kcom announced 3rd qtr results on the 28 Jan last year and finals 22 May. If similar dates are to be used this year 3rd qtr results are slightly overdue so could be expected any time now.
Look forward to beneficially interesting news re the progress of the company. We are due to some!!!!!!

Two new acheivements released on the Kcom website this week:
Kingston beats B.T. to connect up East Yorks villages to Broadband,
and Cityb@se signs up for Kingston and intY's All-in-one internet and email solution.
Full details on Kingston's website.
This news seems to have been largely ignored by the market as KCOM did finish of the week quietly (for a change) perhaps things would get better if only the new man at the helm would give us some idea of his plans for the companies future and how they are progressing.
Perhaps this is too much to hope for!!

optomistic

Anyone got an explanation for the 'silly' 66p bid 300p offer this morning?

Optomistic - The bid & offer prices you mention have 0519 as the time entered. All the other bid & offer prices were entered later (next one @ 0755, then 0758, 0807, etc)

Often prices are put it at outrageous prices, as the person entering doesn't want to have the order filled, but needs to "balance" other orders! If the other orders go through, these orders usually get pulled.

Obviously of the orders get filled (unlikely) it would make them happy!

LW
Thanks again.
I see that KCOM share price just keeps rambling on with no signs of the 3rd qtr trading update which I thought was due a week or two ago.

They do seem to keep rmbling in a generally up direction recently! How far up will they go? Also keep seeing 'rumours' or comment about them being a good takeover target, anyone know more?

The press keep seculation going - but if you check out the way KCOM is set up, (Check out some of the earlier posts!) you'll find it unlikely to ever happen.

KCOM's major shareholder is Hull Council, who also have a number of councillers who are also directors! So it would also require a major change of policy of the council for there to be any chance of a takeover. It just isn't going to happen.

bignose
Takeover rumours always seem to abound around companies that appear to be dormant. I think they are spread around to try to gee up the management, hope it works here. In the meantine just rumours.