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Who's at fault? BT blames Plusnet, Plusnet blames BT...

EmpireCad
Grafter
Posts: 91
Registered: 19-04-2008

Re: Who's at fault? BT blames Plusnet, Plusnet blames BT...

@ James_H
Not sure you are right there.  PlusNet PLC no longer exists as a Public Limited Company.  It is no longer quoted on the stock exchange and you cannot trade its shares.  It may just be semantics and others better qualified than me in matters financial/corporate can no doubt clarify this but since BT Group PLC bought PN and cancelled its stock exchange quote I would consider PlusNet as a trading division of BT. 
See this from your own "About Us" section of your website:
"In January 2007 we were bought by BT. Now we run as an independent subsidiary from our offices in Sheffield. There are more than 200 of us working here and in 2008 we were awarded a ‘First Class’ one-star rating in the annual Best Companies to Work For survey. "
I see your legal section still refers to you as a PLC but is this right?  How can you be a public company when in fact you are a private company?
I'm now confused myself.  Can anyone explain please?  All I do know is that I made a few quid on your shares before BT bought you.
itsme
Grafter
Posts: 5,924
Thanks: 1
Registered: 07-04-2007

Re: Who's at fault? BT blames Plusnet, Plusnet blames BT...

From Companies House
Quote
Public limited company - this type of company has a share capital and, the liability of each member is limited to the amount unpaid on shares that a member holds. The important difference from a private is that a public limited company may offer its shares for sale to the general public. It may also be quoted on the stock exchange.

Companies House entry for Plusnet still has it as a PLC.
James
Grafter
Posts: 21,036
Registered: 04-04-2007

Re: Who's at fault? BT blames Plusnet, Plusnet blames BT...

Should probably point out that in the interests of keeping to the topic, that I've refunded all charges made after the broadband service was ceased (BT Retila induced PSTN cease).
EmpireCad
Grafter
Posts: 91
Registered: 19-04-2008

Re: Who's at fault? BT blames Plusnet, Plusnet blames BT...

@ itsme
As I said it's probably all semantics.  The key word in your quote from Companies House is "may" (x 2) rather than "does" (x 2).  Presumably this means that the current owners of all the shares could offer them to the public if they wanted to but don't have to.  All I know is that if you search for this company on a share trading site or the LSE site you don't find it.
Undecided Undecided
VileReynard
Seasoned Pro
Posts: 10,847
Thanks: 251
Fixes: 10
Registered: 01-09-2007

Re: Who's at fault? BT blames Plusnet, Plusnet blames BT...

Isn't there such a thing as a Company where there is no market - you can't buy shares, because no one is prepared to offer any for sale?

elementaltm
Rising Star
Posts: 103
Thanks: 18
Registered: 09-09-2007

Re: Who's at fault? BT blames Plusnet, Plusnet blames BT...

Ok firstly I would like to personally thank Jameseh for his assistance in this matter, In these days of appalling customer service and offshore call centres (a thinly veiled dig at BT!) It is truly appreciated and frankly refreshing.
I have and always have been happy with the service supplied by F9/Plus.net and remain a loyal customer.
If only I could say the same of BT, a faceless behemoth of a company who without doubt abuse their monopoly of the UK's telecomms infrastructure. Ultimately all blame lies solely with BT even if they choose not to accept responsibility.
DM.
KABOOM!