SAYNOTO0870.COM - "Patientline in Critical condition.."

pw4

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Re: "Patientline in Critical condition.."
Reply #60 - Dec 14^th, 2007 at 3:08pm

NGMsGhost wrote on Dec 8^th, 2007 at 6:11pm:

It sounds like if you are geriatric (due to immobility and physical ailments) but have not lost your marbles you will now have to take a stock of good books on the ward rather than watching the telly.

Reading is not a good option for most patients. Attention span tends to be too limited because of their condition and/or medication, and it's not very practical for the many that are unable be in a seating position. Radio is ideal.

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werdies Newbie Offline Posts: 21	Re: "Patientline in Critical condition.." Reply #61 - Dec 18^th, 2007 at 9:00pm The endgame starts proper in 23 days folks
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pw4

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Re: "Patientline in Critical condition.."
Reply #62 - Dec 20^th, 2007 at 2:02pm

werdies wrote on Dec 18^th, 2007 at 9:00pm:

The endgame starts proper in 23 days folks [18/12/07 + 23 = 10/1/08]

In what way?

A General Meeting has been convened on 10th January, but this is a requirement of the Companies Act 1985 because there can be no successful going concern review, which in turn is because agreement has not been reached with the syndicate of bankers on the restructuring of the debt, and the company has net assets which are half or less of its called-up share capital. The board warned in June 2007 that it would be unable to the approve the Interim Accounts in this circumstance.

The board says that proposals are not yet developed to the point where they can be put to shareholders and it is not intended to propose any formal resolutions at the meeting. So the date seems to be that of a legal formality rather than a significant event, unless you know different.

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werdies

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Re: "Patientline in Critical condition.."
Reply #63 - Dec 20^th, 2007 at 10:04pm

pw4 wrote on Dec 20^th, 2007 at 2:02pm:

werdies wrote on Dec 18^th, 2007 at 9:00pm:

The endgame starts proper in 23 days folks [18/12/07 + 23 = 10/1/08]

In what way?

A General Meeting has been convened on 10th January, but this is a requirement of the Companies Act 1985 because there can be no successful going concern review, which in turn is because agreement has not been reached with the syndicate of bankers on the restructuring of the debt, and the company has net assets which are half or less of its called-up share capital. The board warned in June 2007 that it would be unable to the approve the Interim Accounts in this circumstance.

The board says that proposals are not yet developed to the point where they can be put to shareholders and it is not intended to propose any formal resolutions at the meeting. So the date seems to be that of a legal formality rather than a significant event, unless you know different.

Agreement hasn't been reached, but it's 99.9% there, the details are just being ironed out, and the company will cease to exist I would estimate late Jan.

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pw4

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Re: "Patientline in Critical condition.."
Reply #64 - Dec 21^st, 2007 at 7:49pm

werdies wrote on Dec 20^th, 2007 at 10:04pm:

Agreement hasn't been reached, but it's 99.9% there, the details are just being ironed out, and the company will cease to exist I would estimate late Jan.

Agreement with whom? The syndicate of lending banks, or the company to which you alluded?

werdies wrote on Nov 28^th, 2007 at 10:54pm:

Some well known companies are expressing discreet interest in picking it up for a song - one is quite topical and I'm sure you can guess it

werdies wrote on Dec 2^nd, 2007 at 2:26pm:

... a company with an existing business will run them at break-even or a small loss, to cross-promote it's other products. It will be a strong, trusted brand.

This seems a bit unlikely because that brand only gets involved in launching or buying out fashionable lifestyle companies with a likelyhood of large profit margins. And I don't believe they're sufficiently niaive to think that hospital patients are a good advertising target with a high proportion of the demographics they would be looking for to cross-promote that part of group's business.
I would find it much more credible if it was intended to be run as a philanthropic venture - perhaps a company limited by guarantee - with the branding around the personality rather than the group, but with the advantage that all of the required services can be sourced from one of the companies within the group. There is of course a precedent for a philanthropic take-over by this party, albeit that the previous bid was unsuccessful.

And it would be an ironic brand name in obstetrics wards!

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werdies Newbie Offline Posts: 21	Re: "Patientline in Critical condition.." Reply #65 - Dec 22^nd, 2007 at 2:42pm A non-UK buyer is quite keen now
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werdies

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Re: "Patientline in Critical condition.."
Reply #66 - Dec 22^nd, 2007 at 2:43pm

pw4 wrote on Dec 21^st, 2007 at 7:49pm:

werdies wrote on Dec 20^th, 2007 at 10:04pm:

Agreement hasn't been reached, but it's 99.9% there, the details are just being ironed out, and the company will cease to exist I would estimate late Jan.

Agreement with whom? The syndicate of lending banks, or the company to which you alluded?

agreement as to how much debt can be exchanged for how much equity

~ Edited by Dave: Quote box completed

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« Last Edit: Feb 13^th, 2008 at 8:02pm by Dave »

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werdies

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Re: "Patientline in Critical condition.."
Reply #67 - Feb 12^th, 2008 at 10:06pm

werdies wrote on Dec 22^nd, 2007 at 2:43pm:

pw4 wrote on Dec 21^st, 2007 at 7:49pm:

werdies wrote on Dec 20^th, 2007 at 10:04pm:

Agreement hasn't been reached, but it's 99.9% there, the details are just being ironed out, and the company will cease to exist I would estimate late Jan.

Agreement with whom? The syndicate of lending banks, or the company to which you alluded?

agreement as to how much debt can be exchanged for how much equity

Total panic has now set in, the banks don't want the business, so debt for equity is looking very unlikely after all, no one will supply to the company and repairs have been suspended as a result. Senior management has responded by massively increasing site sales targets! It's quite fascinating just how long a dead company can continue to operate

~ Edited by Dave: Quote box completed

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« Last Edit: Feb 13^th, 2008 at 8:04pm by Dave »

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pw4 Full Member Offline Posts: 130	Re: "Patientline in Critical condition.." Reply #68 - Feb 13^th, 2008 at 1:09pm What happened to the last 0.1%?
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werdies

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Re: "Patientline in Critical condition.."
Reply #69 - Feb 15^th, 2008 at 8:08pm

pw4 wrote on Feb 13^th, 2008 at 1:09pm:

What happened to the last 0.1%?

I don't know, but it's like a sort of Pass the Bomb excersise going on now, as everyone tries to jostle into the best position to escape the blame when it explodes. Very unpleasant environment as evidence is gathered on anyone who could be scapegoated - funniest is the suggestion it's all down to the remaining few technicians (lots were fired last year to save money) who it's implied didn't fix enough equipment fast enough, and thats the whole problem Roll Eyes

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