Cookson Share Discussion Threads

[robertfaulkner] 19/12/2012 18:12

SPOB HAS KINDLY OPENED A NEW THREAD FOR VESUVIUS UNDER "VSVS"

CKSN CHART(on this tread, also by spob) IS NOW DEAD

PLEASE DON'T POST ON THIS THREAD AS WE WILL MISS IT

[kazz] 19/12/2012 11:01

Have tried to buy both today, but Iweb not allowing me to do so at present Bob.

[robertfaulkner] 19/12/2012 10:39

First look at demerger

Versuvius 325p
Alent 322p

Total 647p

Cooksons last night close 643p

Not a big reaction on a 25 point rise in FTSE

[robertfaulkner] 17/12/2012 17:50

Thanks Peter

[peter27] 17/12/2012 16:17

Everything you want to know:
Cookson Group plc ("Cookson") is pleased to announce that all the conditions to the scheme of arrangement of Cookson, which was announced on 1 November 2012, (the "Scheme") in connection with the proposed demerger of the Performance Materials division of Cookson to Alent plc have been satisfied and the Scheme has now become effective.

In accordance with the terms of the Scheme, the Cookson Shares have been cancelled and Cookson has become a wholly-owned subsidiary of Vesuvius plc. Vesuvius plc has issued and allotted one Vesuvius Share for each Cookson Share held by Scheme Shareholders on the Cookson register at 6.00 p.m. on 14 December 2012, the Scheme Record Time.

The listing of Cookson's Shares on the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities is expected to be cancelled with effect from 8.00 a.m. on Monday 17 December 2012.

Vesuvius Admission is expected to commence at 8.00 a.m. on Monday 17 December 2012. CREST accounts will be credited with Vesuvius Shares at 8.00 a.m. on Monday 17 December 2012 and certificates in respect of Vesuvius Shares will be despatched by 28 December 2012.

Prior to the Demerger Effective Time, Vesuvius will be the holding company of the entire Cookson Group, including the Performance Materials division. Vesuvius will trade with the CKSN ticker during this period.

The Demerger, which is subject to the satisfaction of further conditions (including Court confirmation of the Vesuvius Capital Reduction), is expected to become effective prior to 8.00 a.m. on 19 December 2012. If the Demerger becomes effective, each Vesuvius Shareholder on the register at 6.00 p.m. on 18 December 2012, the Demerger Record Time, will receive one Alent Share in addition to each Vesuvius Share they already hold. Vesuvius will trade with the ticker VSVS once the Demerger becomes effective.

Admission of the Alent Shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities, under the ticker ALNT, is expected to occur at 8.00 a.m. on Wednesday 19 December 2012. CREST accounts will be credited with Alent Shares at the same time and certificates in respect of Alent Shares will be despatched by 2 January 2013.

A detailed timetable of events is set out in the circular sent to Cookson Shareholders dated 1 November 2012 (the "Circular").
Vesuvius plc is pleased to announce that admission of its ordinary shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities took place at 8.00 a.m. this morning.

Vesuvius plc is currently the holding company of the entire Cookson group, including the Performance Materials division.

The Demerger is expected to become effective prior to 8.00 a.m. on 19 December 2012. If the Demerger becomes effective, each Vesuvius Shareholder on the register at 6.00 p.m. on 18 December 2012, the Demerger Record Time, will receive one Alent Share in addition to each Vesuvius Share they already hold. Following the Demerger Effective Time, Vesuvius will trade with the ticker VSVS.

Admission of the Alent Shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities, under the ticker ALNT, is expected to occur at 8.00 a.m. on Wednesday 19 December 2012. CREST accounts will be credited with Alent Shares at the same time and certificates in respect of Alent Shares will be despatched by 2 January 2013.

A detailed timetable of events is set out in the circular sent to Cookson Group plc shareholders dated 1 November 2012 (the "Circular").

[robertfaulkner] 17/12/2012 16:06

I should have known, I went to the demerger meeting.

I think today all shares are now called Vesuvius then a bit later they will demerge into an equal number of Vesuvius and Alent shares with the total of the the 2 share prices equal to the 642p ish

Can't find the epics, sorry

[donkeystone] 17/12/2012 15:07

anyone know the two new epics?

[peter27] 17/12/2012 12:17

people are positioning themselves for the demerge taking place over the next two days?

[robertfaulkner] 17/12/2012 11:59

Cooksons jumping around today(fat finger?) nothing in news?

Advfn shows a big drop at 9am to 615p, I G Index shows a big jump at 9am up to 667.8p

Now flat at 640p

Anyone got any thoughts?

[robertfaulkner] 30/11/2012 09:15

Well so far so positive(Cook SP) Since demerger voted though.

Though 600p with no problem, is Cevian buying some more, do they have to do an a RNS if they keep buying?

[robertfaulkner] 26/11/2012 12:01

High court had appointed the secretary(Cooksons) to hold the court.

All over by 10:30 99.7% something had already voted in favour, I was only shareholder(attending) to approve the court action

The 5 votes on the ballot paper was about 4 shareholders putting the votes in the ballot box.

Only 20 people there inc half from Cooksons

At least the share price is up a fraction after being down 5p, on a down FTSE day

[robertfaulkner] 26/11/2012 08:07

Web site says 'Court' is at Linklaters offices?

[robertfaulkner] 26/11/2012 07:57

Oh well. today's the day, I suppose it all a rubber stamp job

I'm off to the meeting, it says on the letter of representation, vote at the court at 10 am and general meeting at 10:15, I don't know if the court is at Linklaters as well as the meeting?

I'll have a look at the web page

[robertfaulkner] 23/11/2012 17:34

Maybe if you are in Vesuvius part, they might start a sharesave scheme again, they will if they want all the staff onside.

Let's hope so

[upsondowns] 23/11/2012 08:24

Robert - there used to be a sharesave scheme which you did get a small discount and was very much worth joining. This stopped about 6/7 years ago, which was a pity. I think the directors wanted all the shares for themselves on top of their wages, instead of giving a small discount to the workers on a lot less money. As you might sense i'm not bitter, lol.

[robertfaulkner] 22/11/2012 19:50

Thanks Upson, can't you get shares at a discount as an employee (some sort of pension buying)?

Donkey S, I've never got more than a cup of coffee and this meeting is at 10 am, so I think we'll be slung out before lunch time, it's in Linklaters offices.

[donkeystone] 22/11/2012 14:07

I have one share in national grid, go to the agm every year and scoff about 200 quids worth of butties.
RF eat your fill

[upsondowns] 22/11/2012 11:38

I work for vesuvius (which as been part of the Cookson group for many years), so I got the letter via email as a standard one to all employers.

Do you believe as I do that this demerger could be designed to sell part of the group off?

I'm currently not holding any CKSN shares, but may be tempted with some of one of the new companies to be listed. I'm not sure how it will pan out so will wait and see what the initial reaction to the SP's before buying in.

4947 shares is not to be laughed at by any means. good luck at the meeting.

[robertfaulkner] 22/11/2012 09:16

Just read your post Upson, did you get it off the Cook web site or are you on an email list of Cook's?

I got my 'letter of Representation' for the meeting on Mon 28th(via Selftrade), it even list my 4947 shares. I hope they don't laugh at me when I present the letter.

Post more after the meeting, I assume it's a foregone conclusion, but I worked for Cook for a couple of years in the 60s and my dad worked for them for 40 years so I'd like to be there at the change

[upsondowns] 20/11/2012 07:13

Dear Colleagues,

On 1st November, Cookson Group announced that it is to proceed with a demerger into two separate entities, to be called Vesuvius plc and Alent plc.

Despite the difficult economic environment we have to deal with at the present time, the Board has considered it was in the best interest of the group, its individual businesses and its shareholders to give the two companies separate futures where they will develop their own strategies.

As a result, and subject to shareholders and Court approval, the newly created Vesuvius plc will be listed on the London Stock Exchange (LSE) with effect from 19th December 2012. Vesuvius plc will comprise the Engineered Ceramics division (Flow Control, Advanced Refractories, and Foundry Technologies which now incorporates Fused Silica) and the Precious Metals Processing division of Cookson. It is expected that our size will make us a member of the FTSE250 index – meaning that we will be among the largest 350 companies on the LSE.
This is an extremely significant and positive development for us all, allowing us for the first time to define and pursue our strategic objectives independently.
This is indeed a matter of pride and satisfaction for all our employees as it means Vesuvius is an attractive company that the investors wish to be separately listed on the Stock Exchange. It is a recognition of the performance we have delivered over the years to build a world leader in metal flow engineering.

It also brings with it significant responsibility, as we will be under even greater external scrutiny than before from investors, analysts and the media. With increased visibility of our actions and performance, we will be valued entirely according to the decisions we make and the results we deliver.
A new board of directors has been created for Vesuvius plc under the chairmanship of John McDonough. John was formerly CEO of Carillion plc, a substantial international support services group listed on the LSE.
The management team has been adapted to cope with the new tasks to be performed as a publicly listed company.

Chris O'Shea has joined as Group Finance Director in charge of Finance, Tax, Treasury and IT as well as Legal Affairs. Chris will be an Executive Director on the Vesuvius plc Board. Chris graduated from the University of Glasgow and the Fuqua School of Business, Duke University ,USA; he was formerly Finance Director of Shell Oil Company in Nigeria and CFO Africa, Middle East and Asia for BG Group plc. As a consequence Yves Nokerman will now report to Chris.
Bart Massant will be Vice President Human Resource for the entire Vesuvius Group.

Claude Dumazeau is Vice President R&D

Patrick Bikard is Vice President Manufacturing, Engineering, QHSE and Purchasing.

Chris Abbott is Business President Steel Flow Control

David Hughes is Business President Foundry Technologies

Glenn Cowie is Business President Advanced Refractories

Roel van der Sluis is President North Asia Refractories

Stella Layton is Business President Precious Metals Processing

Rachel Fell will be our Company Secretary


This team will now work hard to manage the challenges presented by the creation of the new Vesuvius plc and to ensure this new era for Vesuvius is a highly successful one.

Vesuvius is a great company. Financially strong, with a unique technology portfolio, an unrivalled presence across the world and leading market shares in most of our business segments. This leadership position has been hard won over the years and reflects the trust that our customers place in our people and our products and services. The result has been that we have succeeded in growing our sales and profits over and above the organic growth of the market we serve.

I am convinced we have the knowledge and the skills within our employees to capture more successes.


Francois Wanecq
Chief Executive

[robertfaulkner] 03/11/2012 14:53

This is the FT article, it was 1704 (not 1800 something) that Cooksons started in business and the degerger shareholders meeting is on 26th Nov

I've asked Sharetrade to get me entrance.

Below is the FT article

[robertfaulkner] 03/11/2012 08:54

FT had a quarter page on Cookson's demerger on Friday, saying Cookson's name had been around since 1800 something. I wonder why they want to loose a famous name, perhaps it because of all the Rights Issues and then share consolidations the management have done over the last few years, and they want to get away from that.

FT finished by saying the demerger was overall good but don't expect wonders(from SP) because of recent profit warning and world economy problems

So perhaps 600p+ is more likely than 700p

[upsondowns] 01/11/2012 18:29

I would guess that one of the two separate companies might become a takeover target now as it would be cheaper. perhaps those who had recently taken a large stake in cookson, might already have their eye on one. Would it make sense that a lot of investors who now have shares in two companies might pick one of them to invest fully. In this case one would go down the other up. Just a guess on what might happen. Interesting times ahead that's for sure.

[upsondowns] 01/11/2012 18:23

These numpty names were already part if the cookson group, well I know Vesuvius is as I've worked for them for 12 years now. We all got an email today with an attached letter from Nick salmon about the demerger. He signed the letter off saying he would be retiring after it has all gone through.