(CTT) Cattles

".......and did nothing about it by the scheme of arrangement deadline dates"...... Well then you only have yourself to blame. Barry has done an amazing job and last week I received the first compensation payment. But if you didn't fill in the forms what do you expect?

8th Feb

has anyone any news on edwin coe and their suggested class action ? or whether the rumoured FSA investigation is actually under way, and might produce any recommendations for shareholders to be compensated.

I ask because, perhaps like many, I buried my head in the sand over this whole thing, and did nothing about it by the scheme of arrangement deadline dates.

entirely my fault of course, but still wondering if it's too late to do anything ?

through a letter which to me is as clear as mud. After phoning the helpline, I am informed that my claim will now be passed to the next stage. When and how much I will receive is yet to be determined.
A result then....and worth the effort I hope.
Thanks once again Dread for the help along the way. Have a good Christmas.

Imp08,

If you disagree, write back to the sender and tell them so. Send your letter by recorded delivery and hold on to your receipt. Keep a copy of your letter in case a future opportunity arises to put the matter before an ombudsman.
In my past experience I have learned that to have a solicitor involved could prevent an ombudsman considering your case, so check this out.
If it was me, I wouldn't talk to WFSL. I can imagine this will only complicate matters.
All in my unprofessional opinion.
Do your own research thoroughly.

Hi all,

Received a letter today from KPMG basically saying that because I had bought my shares after 20 Feb 2009 and after a statement by cattles warning that the "profit before tax is likely to be significantly lower than market expectations" they have deemed that I have not relied on misleading financial statements and declined my claim.

Is there anything I can do to appeal this?

They said that if I want to discuss the matter, I can phone the WFSL helpline.

Any advice would be appreciated.

http://www.businessweek.com/news/2011-11-02/cattles-claims-gross-misstatement-of-debt-in-pwc-audits.html
I could think of my own acronym for PwC but not sure it would pass iii post police?

Which branches are shutting next then?

http://yell-cal.production.investis.com/financial-calendar/meetings.aspx

Chris Moore, former chairman of collapsed software company Torex Retail, charged with conspiracy to defraud and false accounting

The former executive chairman of Torex Retail, who built up the shop tills software business through a furious run of acquisitions before its collapse four years ago, has been charged with criminal offences by the Serious Fraud Office.
Chris Moore, a former chairman of Oldham Athletic football club, was a driving force behind the explosive growth of Torex Retail before a profits warning at the end of 2006 – eight days after the announcement of a series of contract wins – precipitated its downfall.
The investigation was sparked by Neil Mitchell, who was briefly appointed group chief executive before taking a dossier of information to the SFO in January 2007. The dossier brought a series of raids by the authority.
Torex Retail had been built through a string of 11 acquisitions, made in rapid succession after the company floated in March 2004. Shares more than doubled within 12 months of a listing on Aim, the junior London market, but slid back faster in 2006 as investors began to balk at the scale and speed of deals.
Moore had a long history with the business, which begun life as a division of Torex plc, the healthcare software group. Torex Retail was demerged after Torex plc's merger with iSoft, a rival hospital IT group, in 2003. For a short spell Moore, who had been chief executive of Torex plc, and his then finance director Mark Woodbridge, took similar roles at iSoft but were both pushed out within months after a boardroom row.
After leaving iSoft, Moore returned to Torex Retail as chief executive in early 2005. He was charged on Monday with counts of conspiracy to defraud and false accounting between May 2006 and January 2007.
The offences relate to the failure of Torex Retail, which went bust in June 2007, and are unconnected to the continuing business of Torex Retail Holdings and its subsidiaries.
In February 2007 the Guardian revealed that Moore, Woodbridge and Torex Retail's former executive chairman Rob Loosemore were among those targeted in the SFO's probe, though Woodbridge was not a director of the company. Last week the SFO charged Loosemore, Woodbridge and Torex Retail's former legal services director Nigel Horn with conspiracy to defraud.
By coincidence, iSoft co-founder Patrick Cryne, who succeeded Moore as executive chairman, is among four former executives facing a criminal trial this autumn after they were charged by the Financial Services Authority with offences of conspiracy to make misleading statements between 2003 and 2006. Cryne, a 50% shareholder in Barnsley football club, has denied wrongdoing.
The trial is unrelated to that of Moore and his former business associates at Torex Retail and is also unrelated to the continuing business called iSoft, which last month announced that it had accepted a takeover offer from the US IT contractor Computer Sciences Corporation.

Shareholders wishing to claim in the schemes of arrangements for losses sustained as a result of holding/acquiring/selling shares in Cattles in reliance upon incorrect information published by Cattles have to lodge their claims with the respective scheme supervisors by 2 June 2011.

If not lodged by then there is NO CLAIM!

There is very little more I can do to inform "shareholders".

See the CATTLES webiste under SCHEMES and the respective CREDITORS SCHEMES

If you registered with me and have not had e mail check your junk mailbox

I haven`t recieved my cheque, i`m out in tenerife working so got no access to my share certificate.Should i have filled something in..?I`ve changed address in the uk but nothing has been forwarded. Any help would be gratefully recieved..

rgds-grumps

349 towards SXX....me thinks...Time to move on

My cheque arrived this morning - I told "her indoors" to put it in the holiday kitty.

The saving grace on this whole debacle for me is that my cheque actually represents a profit

Cheers all!

D

my £252 and more has gone into JJB
another mess..lol

My £171 remnant is going to OPM. Its a very small cap, subprime lender. Can't lose. Mmm, hold on? Where have I heard that before? LOL. Many thanks to Barry. Take care mate. Always DYOR and then pray the directors are honest for good measure. I hope all the charltan, quack Welcome BOD's involved here are tasting cold, salty, porridge very soon.

Victor Meldrew

Got mine too, into my III account tonight - I take it the March 11 Scheme of Arrangement letter can go in the bin?

Should shareholders make an additional claim?

Money received. Farewell Cattles.

Bye bye forum presumably, the company is no longer listed.

I received it too. It wasn't there in the morning, but it is now. I'm with Hargreaves Lansdown. No commission charge either.

Nice to see they can still screw things up even at the death. The stuff I was going to invest in has gone up today so I will have to invest at a higher price, so thanks for that Cattles.

Re. Halifax share dealing.
"We have not received the payment into our CREST account yet and Cattles did announce that this is how payment would be made. It is not here yet, as soon as we do receive it we will update the payment on to individual accounts"
Just have to wait.

also selftrade did not take any commission which i think fair play not hitting on charges

i can now leave CTT and Selftrade and move on with what i want to do best well hopefully and make money is the case

all the best from Steve

Hi Guys

just to say i see they have credited my account via selftrade


i thought i say the info

No money in Barclays account, irritating to say the least!

im with the halifax and no money in there either i just looked .. there still giving me the hump even at this late stage...

Agreed, just logged in to my sharedealing account to invest the money and there's no sign of it.

the listing has been removed from LSE, it is 16th of March 2011....but where is my 1p I am asking where?

What a crock, their still telling tales no doubt, How can You believe anything they say, they have no credability,FSA has not finnished there investigation,I`ve been ignoring all statements produced by cattles,the board will probably have to be removed somehow!

I look forward to 1p return then at last it is goodbye cattles.

i dont think you do but the loss needs to be registered

example

lets say you have no CGT in this year but you register the loss and next year you make more then CGT threashhold they will combine the previous year loss and your allowance in the current tax year

i hope i got this right i am new to this myself but seems realistic

all the best

Do I have to reach the threshold to be paying CGT before I can claim for losses incurrred?

Yes.Thats my reading of the situation no action needs to be taken.Payment by 16th March for uncertificated holders(held in nominee accounts etc) or consideration cheques posted that day to certificated holders so allow a couple of days extra in this case.I would not panic if it does not instantly appear in your account on 16th as it may depend on how fast your brokers admin is in updating,but I would expect it to appear over course of the day.

The big bonus as you mention is we have the CGT offset for current year.

The energy, effort and paper in concluding the settlement of Cattles has been exemplary. What a pity the BOD did not put in the same kind of time, diligence and application. We might still have a company that has shares to trade in.

oh great so for example

my suspended shares are held via selftrade they will pay in that account this week have i got that correct?

if so this will be double handy if this is done in this tax year because i can put it against my CGT which is pretty hefty this year for me



speak soon

I spoke to someone on the scheme hotline this morning and they said that we will be receiving the 1p per share this week and there isn't anything you need to do to get that money.

The claim forms are there in case you feel that you are still classed as being a creditor and feel that Cattles owes you money on any other basis.

I'm not going to bother with these forms as to me it seems to be a waste of time because you would firstly have to prove any other reason for them owing you the money and then they would have to have the funds to pay it.

As long as my 1p per share is in my account this week then I'll be happy as I had written this money off a long time ago and finally realising the loss will keep my CGT bill down for this financial year which is good news for me.

why do they make every thing so complicated and hard to understand ,if they where raising funds I be it would be easy as pie to understand,,,,,,Winston Churchill once said if it sounds like bunk it normaly is bunk

I think all employees that purchased shares, on the back of a certain director standing in the atrium stressing how good an investment they would be, should also complete these forms. I know I will be, as have supplied evidence to the FSA and as of yet, no action has been taken against these individuals. To say I am annoyed would be an understatement!!!!

Hi caveman.

The 1p per share will be paid out on or around the 16th Mar according to Computershare who i'm with, they confirmed that my payment had been raised last week to be sent out the 16th.

As for the 'claim form' of which I also rec'd today, lord only knows what its for. I'll fill it out the best I can and rtn it. Not sure what claim we are entitled to, if any. It may be of benefit for those who bought into the 'rights issue' a couple of years ago where CTT knew of the 'dodgy directors / false accounting' farce but still duped investors into parting with cash they never had an earthly of ever seeing a return from.

If anybody has rec'd this claim form with any ideas as to what benefit it may have for us, could you please shed some light or advise us on what we should do it would be much appreciated.

Thx in advance.
SG.LFC

got mine too

same as i am in cloud cuckoo land with this form

talk about confusing :-(

Just received mine too. I have to admit, I do not have a clue what it all means. Does this mean that the 1p per share has to be claimed or will it be credited to my on-linbe share account automatically and this is a further claim although just a legal formality and no chance of any more compensation.
Do we still get the 1p next week?