Free Web Hosting Provider - Web Hosting - E-commerce - High Speed Internet - Free Web Page
Search the Web

Home Page | Custom Page
Industrial Control Services - Shareholder Contact Site

Welcome to the shareholder contact site

This site has been set up to provide a forum for ICS shareholders following the acquisition by Tritrax, and subsequent de-listing.

If there is anything you want to add to this page then email me at shr@ics.4t.com or post a message on the message board or on the iii website (ICS forum on iii)

Your board announced that the Company proposes to:

  • Capitalise the sum of +14 million outstanding by way of loan from Tritrax in respect of the Mezzanine Loan by way of the issue of 14 million Preference Shares to Tritrax
  • Raise approximately +2,983,000 by way of an Open Offer of 0.1 pence Ordinary Shares each at 0.5 pence per Ordinary Share, to the Qualifying Shareholders
  • Buy back all the existing issued Deferred Shares of the Company.

    • Issue of 14 million Preference Shares to Tritrax

    As at Friday 31st May 2002 the outstanding balance of capital and interest in respect of the Mezzanine Loan is anticipated to be approximately +14,648,000. Agreement has been reached with Tritrax, conditional on the passing of the Resolutions, to capitalise the sum of +14 million of that balance by applying it as the subscription price for 14 million Preference Shares. The Company shall pay to the Members holding Preference Shares, in priority to the holders of any other class of Share, a cumulative preferential net cash dividend at the rate of 18 per cent per annum

    Open Offer

  • Qualifying Shareholders may apply for 3.5 New Ordinary Shares for every Existing Ordinary Share held at the Record Date. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares.
  • Qualifying Shareholders may apply for less than their maximum entitlement of New Ordinary Shares if they so wish.
  • Shares not applied for will be acquired by Tritrax under the underwriting agreement
  • Qualifying Shareholders should be aware that any New Ordinary Shares not applied for under the Open Offer will not be sold for the benefit of those who do not apply under the Open Offer
  • The Application Form must be received by Capita IRG Plc at Bourne House, 34 Beckenham Road, Beckenham, Kent, BR3 4TH so as to arrive no later than 3 p.m. on Thursday 2nd May 2002.
  • Applications for New Ordinary Shares will be irrevocable and may only be made on the Application Form, which is personal to the Qualifying Shareholder(s) and may not be assigned or transferred.
  • Any person outside the United Kingdom wishing to apply under the Open Offer must satisfy himself as to the full observance of the laws of any relevant territory in connection with it.

    • At 31 May 2001 Tritrax Limited owned approximately 83.5% of the share capital of Industrial Control Services Group Limited. At 30 November 2001 its ownership had increased to approximately 84.1%.

    An Extraordinary General Meeting to be held at 11.00 am on Friday 3rd May 2002 at the offices of Addleshaw Booth & Co at 25 Cannon Street, London, EC4M 5TB

    Bull or Bear ?

    Compulsory Purchase Advice

    Some brokers have been advising their clients that they are obliged to sell their shares. This advice is not correct.

    Tritrax hold about 82%. This is not enough to enforce a compulsory acquisition. If they acquire 90% they can (and will) compulsorily purchase all shares, but we now know that more than 10% of the equity is held by shareholders who have not intention of selling to Tritrax. You are well within your rights to continue to hold your ICS shares.

    De-listing does not compel shareholders to sell. Your broker may be unable or unwilling to hold the shares for you, but you are able to transfer your shares into a paper certificate and remain a shareholder.If you hold shares in a nominee account check the Terms and Conditions regarding offers that are declared unconditional.

    There is more information on the message board
    and on the iii website



    Trading

    If you want to trade ICS shares it may be possible to find a willing buyer or seller from among the current shareholders. Put an offer on the message board.

    9.8 million +
    We now have 'no sale' declarations from 171 shareholders, holding more than 9.9 million shares. This represents approximately 5.8% of the equity. Malanky has declarations for an additional 10.8 million shares (approx 6.3%), giving a total of 20.7 million (12.0%)
    2bOrWhatever50000 Geoffst5394 PG Tips14000
    AlanM40000 Georgieo38846 Phil Sug16269
    AMW4500 Giampiero12500 Phyllis Tyne73387
    AN Other8000 Giles17564 PoundStretcher25000
    Andythomo8000 GKB80000 QPR-250000
    Apehanger11000 Godsiva50000 Rack22000
    Aurak2700 Gogsyboy1100 Randyron10000
    Balata Boy8500 GP_W22601 RG2500
    Barkin27000 Greenwichman75000 Richard6000
    Bazza0131700 Gulf Pirate37679 Richard Bethune11000
    Bear Raider34600 Hanging In85207 Rick Stubbs150000
    Bendy3500 Hero94000 ridge1175000
    BigCobra100000 Honest Broker50000 Rog-dodge7000
    BrettJBuckley10909 Horst Vallant100000 Rrobson11111
    Brian13000 Investor In Learning10000 S.H-R330000
    Buggrit (ICS Action Group)1580000 J Keeley100000 SafetyG15000
    Bushthing10000 Janet13066 SafetyG215000
    Cabsky16950 Jimbo111150 SB3000
    Camelliat60000 John Wighton105000 Scadaman20000
    CarlisleKid260000 Jon Dahms5000 Second Row Forward12500
    CarlPritchard24000 Just Piove150000 Seniag15175
    Carman31658 Keith Wiltshaw68500 Sharemungus11000
    CGB20000 Kenblack46390 SmileyCulture65000
    Charleton31000 Kifak3117 SNS17530
    Conspiracy150000 KJDickson7000 SP238450
    Corfian2512 Kuranda7000 Steve Yates8000
    CovBee100000 Lamina2500 StevieOD15000
    Crumpe16833 LostCauseInvestor6700 SuperBlue15000
    Crumpe24000 Luckless Trader25000 Swissie96000
    Cyborcom8333 Lunar Lander6000 Tawoodger28500
    Dacoit27436 Mad Mags75000 TD7500
    Dancer100000 Madbolas380000 TDW10000
    Danson200164800 Made A Few Quid7000 Techie6030
    Dave Flynn84857 Malanky500000 TerryEaling40000
    DaveBro7000 Matter13500 The Potter5000
    DaveTheEagle40000 MaxV45000 The Quiet One10995
    DavyKn8936 Mesh6950000 ThePrinter33847
    DBA Man17650 Mister Grumpy250000 Tig20000
    Delors10000 Mister Grumpy250000 Tomjo6000
    Delsboy54500 Modra30000 Trading Blue20000
    Des500000 Mr Rosenberg7000 Trailer Trash88000
    Dibblah218000 MrT18888 Troo40000
    Drod3800 Narker70000 Truffleseeker30978
    Dumbledore268000 NeverTrustedICS80000 Up Yawes24000
    Eilat Sea17000 Nick266500 Upset70000
    Elvis0076000 Nigxx28518 US Person1000
    Espere50000 NoItHasnt3000 Valter78000
    Estepona50000 No-Mad15000 Valter111267
    Euskadi4000 NP75000 Verulamium6000
    Ex-customer50000 Old Spider6385 Very Old Man10000
    Exdiv40000 One4dRoad25000 Vince58000
    Farside Inv. Club23358 Pacific Blue5000 Vostok235000
    Ferrero20000 Pagli33330 WhyOhWhy43700
    Flatbrokeagain4850 Pakey30000 Wjcq373073
    Fraser30900 Patricia Em2500 Yet Another Investor30000
    FTSE Guru14814 Peeved23529 Zies2000
       Pete The Manager20000 Zyper121619
       Peter S140000 Total9,901,491
       PG10000 Malanky210,803,273
          Grand Total20,704,764

    Links
    4T Message Board
    iii Message Board
    Buyers/Sellers

    ICS Group (Broken?)
    ICS Triplex
    Transmitton
    Max Controls
    Neles Automation
    Alchemy