Comments on: Cattles Invoice Finance

By: Ted

Ted — Tue, 21 Apr 2009 08:09:45 +0000

can’t help but notice that today is Tuesday & no developments

By: Ian

Ian — Mon, 20 Apr 2009 11:41:44 +0000

A further 18m shares traded so far by mid day today with the share price rising to 8p at one stage this morning before dropping back slightly and there has been no announcement so far about anything.

By: Ian

Ian — Sat, 18 Apr 2009 16:31:48 +0000

I’m back from my sojourn in the sunshine in Javea to see that the share price for Cattles has shot up by nearly one third to the heady heights of 5p

What makes it more interesting is that over 11m shares were traded in a day which is considerably more than normal.

Anybody would think that somebody knew something

By: Ian

Ian — Fri, 17 Apr 2009 11:23:06 +0000

I’ve been a bit out of touch with the grapevine in the last couple of weeks but I hope that this isn’t yet another false alarm for the sake of the whole factoring industry as well as the poor staff and clients of Cattles

By: Ted

Ted — Fri, 17 Apr 2009 11:05:49 +0000

Monday – watch for news!!!

By: Ian

Ian — Fri, 17 Apr 2009 07:12:22 +0000

Three months further on and we have still had no further announcement on the future of Cattles Invoice Finance and the supposed sale to venture capitalists seems to be taking for ever.

By: Ian

Ian — Mon, 23 Feb 2009 12:37:45 +0000

I did write something new this morning at http://factoringblog.co.uk/?p=152

The shares dropped due to an announcement made to the stock exchange last week that the results were going to be delayed.

Last I heard all of the potential buyers of Cattles Invoice Finance had withdrawn their interest and the proposed management buyout was also floundering too

By: Adam

Adam — Mon, 23 Feb 2009 12:20:21 +0000

Has anyone heard the latest on Cattles? I saw on Friday that the share price of their parent company had dropped to 3.5p. Has their been no further news on a potential buyer for the invoice finance company?

By: Ian

Ian — Mon, 16 Feb 2009 11:11:21 +0000

It has all gone worryingly quiet on the Cattles front. The last rumour that I heard was that the promised date for an announcement had been and gone which doesn’t sound like a good sign at all to me

By: Ian

Ian — Wed, 07 Jan 2009 13:44:43 +0000

Following on from yesterday’s post Cattles plc issued a statement today stating “In light of the continuing uncertain funding environment and the need to take decisive action now,Cattles plc today announces a series of proactive steps to reduce costs, preserve liquidity and significantly reshape the Group”

They claimed that “Discussions are ongoing with our bank syndicate regarding the refinancing of facilities due for repayment in July 2009 and also with the FSA regarding our banking licence application.”

The major element of the cost cutting excercise seems to be the loss of 1,000 jobs including the closure of their Hull operation.