newcourt

hey
was reading a lot of threads here about newcourt and the positives and negatives. just wondering is there any clear indication of the future of this company, its lingering between 4 and 5 cent the last week, regretting not getting in at 1.3 cent when i opted for smurfit, but made my money now off smurfit and am looking further afield for bargains, davy keep quoting €7 for smurfit but i think €5 will be the max for the next few months

MrMatisse

http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=MARKETS-qqqs=themarket-qqqid=42077-qqqx=1.asp

gears

This Bus Post article is not really news, just relating the situation that B.O.I. has formalised whats been known for some time and has this not already been discounted?

i have been monitoring the bank of ireland situation but what could the outcome be for newcourt, it would be in there best interests to dump the weak part of the business and retain the string performing sector, unless they see prospects arising.
newcourt has been stagnent the last week since i bought in, kind of regretting it now as plenty of shares have boomed. will hopefully see some rise before the weekend and get out as this boi uncertainty cant be helpful

went to sell today and they had just got suspended.
going bloody mad

is my money gone now or is there any hope

Smcgie

I dunno im in the same boat, i have a large part of my portfolio in Newcourt.

Does anyone know what the process will be now that the are appointing recievers

http://www.newcourtgroup.com/fileadmin/pdfs/2009-06-04_Statement.pdf

Is this a total loss for the investor?

JAMM222

have a bit of this myself! not sure whats going to happen

Smcgie

According to my broker there worthless, consider any monies gone. But I wonder if someone would buy it over?

i hope not, they still have strong businesses but the fact that newcourt couldnt find a solution themselves has me worried.

cant see newcourt raising €36million and have anything left. i am just fuming that i went to sell and they had been suspended about 15mins. all my profits and some of my own money have been wiped

Smcgie

Would it be possible that day traders have tortured Newcourt, a lot of people have made money out of shorting it day-in-day-out. It surely must be a torture in relation to profit taking.

I Myself bought about 2 weeks ago to hold for the long term. :rolleyes:
Jez i hope they have an Ace up their selves, but its doubtful.

Can any of the pros here comment on what they think will happen?

Idu

Smcgie wrote: »

Would it be possible that day traders have tortured Newcourt, a lot of people have made money out of shorting it day-in-day-out. It surely must be a torture in relation to profit taking.

What? How do you mean tortured?

Smcgie

Idu wrote: »

What? How do you mean tortured?

Id doesnt really matter, please ignore ... its just a rant.

What happens now IDU?

Idu

I believe the company will be delisted and the share will be worth nothing

who owns the company then if its delisted, thought receivership meant selling off assets to pay the debt and according to the bank statement on the bus post newcourt has some strong performing businesses, its just a matter of offloading the weak sectors and holding the strong ones for the future of the company.
hopefully something will come out of the recievership and a smaller newcourt will come out of it.
does recievership mean the end, does suspension of shares mean permanent or do companies come of the recievership and recommence share trading

Idu

The Newcourt group will be broken up and the remaining businesses will be left to their own devices

Qwertysurf

Deleted User wrote: »

hey
was reading a lot of threads here about newcourt and the positives and negatives. just wondering is there any clear indication of the future of this company, its lingering between 4 and 5 cent the last week, regretting not getting in at 1.3 cent when i opted for smurfit, but made my money now off smurfit and am looking further afield for bargains, davy keep quoting €7 for smurfit but i think €5 will be the max for the next few months

Regarding Newcourt, just read (on Bloxham trading report) that BOI has taken control and shares have been suspenden. DOnt know what this means for my shares. Anyone have any ideas?

if its broken up, surely the current owners (shareholders) get an equivalent stake once the debt has been cleared, €36 million isnt a massive debt in todays world, maybe bank of ireland should take a look at who bailed them out and restructure the loan to make it viable for newcourt to continue, i'm sure once this recession ends and economies pick up again newcourts businesses will boom, sigmar recruitment for 1 would be a massive gainer

wlrteam

Im in the same boat!bought some of these recently are all shares worthless now or can they still be resurected long term?????????

Smcgie

http://newcourtgroup.co.uk/

I want to draw your attention to this, make sure to register your holding with the group

I am not connected but i have registered. 8% of the total shareholdings are registered @ present.

stepbar

Deleted User wrote: »

if its broken up, surely the current owners (shareholders) get an equivalent stake once the debt has been cleared, €36 million isnt a massive debt in todays world, maybe bank of ireland should take a look at who bailed them out and restructure the loan to make it viable for newcourt to continue, i'm sure once this recession ends and economies pick up again newcourts businesses will boom, sigmar recruitment for 1 would be a massive gainer

Should they now, because you happen to have a few share in same :rolleyes: Stop talking through your hat.

Smcgie

stepbar wrote: »

Should they now, because you happen to have a few share in same :rolleyes: Stop talking through your hat.

:rolleyes: @ you

stepbar

Smcgie wrote: »

:rolleyes: @ you

O, I see you have shares in Newcourt too! :rolleyes:

So I'm trolling now because you don't like what I have to say huh :rolleyes:

Answer me this, why do you think the BOI put the company into receivership? and why do you think the company (in it's present structure) should be artifically supported when it is clearly unviable?

Were you aware that when Newcourt sold Ely Property it crystalised a loss of 37 million on it's investment in the 2 years it owned same? They sold it back to the same guy they bought it off! They couldn't even secure backing for a recent MBO attempt. The auditors haven't even signed off on last years's accounts! Did that not strike as being odd? Surely a vote of confidence in the management.... :rolleyes: And still some went ahead and purchase shares and are now cribbing because there's a good chance the company will be wound up / sold off.

I had to laugh when I seen this thread first, because it just shows the sophistication of some investors.

pirelli

stepbar wrote: »

O, I see you have shares in Newcourt too! :rolleyes:

So I'm trolling now because you don't like what I have to say huh :rolleyes:

Answer me this, why do you think the BOI put the company into receivership? and why do you think the company (in it's present structure) should be artifically supported when it is clearly unviable?

Were you aware that when Newcourt sold Ely Property it crystalised a loss of 37 million on it's investment in the 2 years it owned same? They sold it back to the same guy they bought it off! They couldn't even secure backing for a recent MBO attempt. The auditors haven't even signed off on last years's accounts! Did that not strike as being odd? Surely a vote of confidence in the management.... :rolleyes: And still some went ahead and purchase shares and are now cribbing because there's a good chance the company will be wound up / sold off.

I had to laugh when I seen this thread first, because it just shows the sophistication of some investors.

I have always pondered newcourt since it was .01. My first and subsequent post about it was that it had abandoned its main company website, that there was no information for 2009 at all and for most of 2008. For that reason alone i was extremely skeptical and i had griped that it was impossible to find any accurate or up to date information.

In saying that it had a short term quick gain potential but in my opinion was not an investment for the simple reasons above. However the Irish independent had rated it a extremely strong buy, so blame the analysts at the Irish independent for their awful analysis, they get paid to make an analysis ( well at least i think they do, they also rated BOI a heavy sell when it was rocketing in NYSE ( not factoring in the Moody's factor "as it was before that" it was a moderate buy/hold at worst).

If they are not paid then are they even analyst's, or do they use the same formula they use in some of their stories. Shattered dreams.


I did not invest so i am neutral and i also think it has potential to work out its financial problems. Every company is facing financial problems and i think 95 % ( i.e USA ) have acted constructively and bridged loans and haggled extensions and have shown Growth ( bloomberg).

That should be the same for a company like Newcourt and management should not abandon their shareholders and take a paycut and roll up their sleeves and work their way out of debt.

Smcgie

stepbar wrote: »

O, I see you have shares in Newcourt too! :rolleyes:

So I'm trolling now because you don't like what I have to say huh :rolleyes:

Answer me this, why do you think the BOI put the company into receivership? and why do you think the company (in it's present structure) should be artifically supported when it is clearly unviable?

Were you aware that when Newcourt sold Ely Property it crystalised a loss of 37 million on it's investment in the 2 years it owned same? They sold it back to the same guy they bought it off! They couldn't even secure backing for a recent MBO attempt. The auditors haven't even signed off on last years's accounts! Did that not strike as being odd? Surely a vote of confidence in the management.... :rolleyes: And still some went ahead and purchase shares and are now cribbing because there's a good chance the company will be wound up / sold off.

I had to laugh when I seen this thread first, because it just shows the sophistication of some investors.

No your trolling, click your own username and look at the last 10 - 20 posts, they all happen to be single threads in seperate post and all happen to be negative, grow up.

Good-day

stepbar

Smcgie wrote: »

No your trolling, click your own username and look at the last 10 - 20 posts, they all happen to be single threads in seperate post and all happen to be negative, grow up.

Good-day

Well I'm glad you obviously havent the capacity to debate facts. Good day to you sir.

Idu

Well following someone around the site to comment on the standard of their posts is quite trolly too in fairness.

And it's not like anything he said in this thread isn't true so I don't think you should be so quick to get on your high horse and be so defensive. A few posts back you insinuated that short sellers were to blame even though you quickly retracted that. You obviously have a large interest in this which is fair enough but it's no reason to attack another poster just because they disagree with your opinion or what you believe is fair