Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

18 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

HWE, HENRY WALKER ELTIN GROUP LIMITED
kura
post Posted: Mar 3 2006, 09:28 PM
  Quote Post


Posts: 445
Thanks: 8


Thanks for reply Paul, but to be honest your reply wasn't really what I was looking for, I thought some financial "smart arse" would have analysed their financials, and predicted the forthcoming doom.

In essence I think the answer is that management took a major punt, (went wrong) so if nothing else, the answer is:-
- Stuff the financials,
- Just have confidence in competence of management

Cheers All

 
PaulB
post Posted: Mar 3 2006, 09:04 PM
  Quote Post


Posts: 136
Thanks: 5


In reply to: kura on Friday 03/03/06 02:26pm

This is one place to look:

http://www.crikey.com.au/articles/2005/02/02-0001.html

There was some newspaper article that I have lost track of. It went something like this:

They signed a big contract before arranging the necessary financing. Then sacked the CEO. This led to discussions with the banks, which failed.

Their announcements hid the the importatnt part of the truth by blandly saying that they were in discussion with the bankers.

I could be wrong on some of the details above as I have a great forgettery.



--------------------
Paul
 
kura
post Posted: Mar 3 2006, 01:26 PM
  Quote Post


Posts: 445
Thanks: 8


I confess that I thought about buying some, prior to the brown stuff hitting the fan, (but luckily never did) I recall looking at HWE website at the time, sure they had a small problem, but didn't ever think the problem was fatal.

As a relative financial "dumbo" can anyone point me to some detailed analysis of what went wrong here, so I know what to look for in the future ? I'm really just asking for my personal education, as I've allways looked briefly at the financial stuff, but in all honesty, they usually look fine to me.

 
PaulB
post Posted: Mar 3 2006, 12:43 PM
  Quote Post


Posts: 136
Thanks: 5


Administrators have now issued declaration that shares are worthless so now loss can be claimed for tax.

http://www.mcgrathnicol.com.au/Portals/0/H...l-O0702-GRC.pdf

Declaration by Administrators that shares are worthless

In accordance with Section 104-145 of the Income Tax Assessment Act 1997, the
Administrators of Henry Walker Eltin Group Limited (Administrators Appointed) declare
that we have reasonable grounds to believe that there is no likelihood that
shareholders in the company will receive any distribution in respect of the shares they
hold in the company.

As a consequence, shareholders who acquired the shares on or after 20 September
1985 may choose to make a capital loss in the income year that includes the date of
this Declaration as a result of CGT event G3 occurring. The capital loss is equal to the
reduced cost base of the shares.

NOTE: A capital loss is not available for certain shares acquired under an employee
share scheme. Shareholders who have acquired shares in this way should seek their
own tax advice.

Should you have any queries regarding this matter, please contact the HWE Hotline
on 02 9338 2618.

Dated 3 March 2006

J D Hayes
Joint Administrator

S B Kershaw
Joint Administrator



--------------------
Paul
 
lakhilove
post Posted: Feb 11 2005, 01:48 PM
  Quote Post


Posts: 77


In reply to: econex on Thursday 10/02/05 08:53pm

JUST my feelings...even though I lost 20k.
======j==================================

AAHHH MR Walker You are Lucky you got BEST MITES (mates) who will mourn on your
death and eat/divide the hard work you have done in your life.

1. State funeral for Henry Walker ..This Tuesday

Comments: Human nature

2. Feb 7 ..Henry Walker Eltin Says Chairman Neville Walker Died Suddenly

Commnets: Friends were waiting for this happen

3. HWE was estimated to have existing creditor claims of around $570 millioln when the administrator was appointed and assets with a book value of $630 million

Comments: Friends

4. Jan 31...Glencore pulls plug on Henry Walker Eltin..appoint
administrator

Comments: Friends are pulling plugs

5. MUCH MORE

please check on
http://news.google.com.au/news?hl=en&ned=a...2&btnG=Search+s




 
econex
post Posted: Feb 10 2005, 08:53 PM
  Quote Post


Posts: 1,107


HWE was in trouble and still had great potential specially during a booming resource sector.

I think darker and sinister forces are at play here, a shame really.

econex



--------------------

 


homestar
post Posted: Feb 10 2005, 08:19 PM
  Quote Post


Posts: 53


http://www.abc.net.au/news/newsitems/200502/s1297762.htm

There it is.

 
billyrubin
post Posted: Feb 10 2005, 05:41 AM
  Quote Post


Posts: 236
Thanks: 1


In reply to: abeckett on Wednesday 09/02/05 07:51pm

nullarbor is latin for ''no tree'' so he must have been extremely unlucky

 
homestar
post Posted: Feb 9 2005, 07:51 PM
  Quote Post


Posts: 53


To make matters worse, the situation actually sounds suspicious - word is he ran his car off the road into a tree near the Nullabor (sp?) ...

Anthony

 
lakhilove
post Posted: Feb 7 2005, 03:56 PM
  Quote Post


Posts: 77


In reply to: Metala on Tuesday 01/02/05 11:15am

Henry Walker Eltin Says Chairman Neville Walker Died Suddenly
http://www.bloomberg.com/apps/news?pid=100...refer=australia

 
 


18 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING