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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Clerkenwell | LSE:CRK | London | Ordinary Share | GB00B3L0Q676 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 28.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 28.00 | GBX |
Clerkenwell Ventures (CRK) Share Charts1 Year Clerkenwell Ventures Chart |
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1 Month Clerkenwell Ventures Chart |
Intraday Clerkenwell Ventures Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 01/4/2010 | 00:30 | Clerkenwell ventures | 387 |
| 31/3/2005 | 20:10 | I'm Andrew Garner | 18 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 03/12/2009 18:03 by hugepants CRK would be worth buying if you could be sure they will liquidate the company if they cant find an investment within the time limit. The alternative is they delist.I bought shares in a cash shell 3 years ago. They delisted 2 years ago and still have not made an acquistion. PS. OVG has effectively 8p net cash and a 4.25p share price. |
Posted at 28/8/2009 15:52 by jay083 Tipped by this lot. kicking myself, thought about buying in before it moved - just didn't want to be locked into such an illiquid share. hey ho...Clerkenwell Ventures - Buy at 21.5p Says exclusive small cap specialist website UKMicrocap.com Company Description Clerkenwell was admitted to AIM in October 2004 as a cash shell to acquire businesses in the leisure industry. Since then it has evaluated multiple opportunities but in recent years it has seen good businesses without a special need reluctant to crystallise value at prevailing levels and debt availability across the leisure industry substantially impacted by economic conditions. As a result, the company returned £26.79 million to shareholders in March 2009. Financials & Recent Trading Clerkenwell announced results for the six months ended 31 st March 2009 on 30 th June. These showed a pre-tax loss of £95,000 on no turnover, though £148,000 of this was a non-cash share based payments charge and stripping this out £230,000 of finance income compared with administrative expenses of £177,000. At period end the balance sheet showed net cash of £3.56 million and net current assets and net tangible assets of £3.20 million. In February a General Meeting of shareholders re-approved the company's investing strategy. In accordance with AIM rules this gives it 12 months to make an acquisition or otherwise implement its approved investing strategy otherwise the company will need to return to shareholders or return its funds to them and liquidate. Considering what we have said above and continuing adverse market conditions, we see the latter as the most likely occurrence though the company did note in the results statement that it had "continued to evaluate a number of businesses". Management Non-Executive Chairman David Page was involved with PizzaExpress for 27 years, including as both Chief Executive and Chairman. He co-founded AIM listed restaurant company Clapham House Group, where he is presently Executive Chairman. Non-Executive Director Paul Campbell is a long-term business partner of Page's having been Finance Director at PizzaExpress and since its formation in 2003, Chief Executive of Clapham House Group. He is a qualified Chartered accountant and also has leisure sector experience from Relaxion, which was a leisure management company with operations throughout the UK, where he was Chief Executive. *The value of investments can go down as well as up. Past performance is no guarantee of future success. Investing in equities can lose you part or all of your capital. The tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the recommendations contained here should seek independent advice. Smaller company shares usually suffer a wider bid offer spread the blue chips and can be illiquid and hard to sell and must therefore be deemed higher risk investments. Recommendation: This is a simple story. Page and Campbell are sensible men and we believe they will only do a deal as true vultures. Having been patient and walked away from many a transaction over the past few years and both been buyers of shares since early March (owning 4.35% and 4.91% of the equity respectively), we simply don't believe this management will squander the cash they have remaining. The £26.79 million Page and Campbell have already returned to shareholders shows that if they can't find what they believe to be compelling value, they will simply give the cash back. There are presently 8,344,688 shares in issue and £3.2 million equates to 38p per share. Outstanding share options are exercisable at 54p so shouldn't represent an issue, though on the business being wound down we would see some costs being incurred related to this process. However, the current share price of 21.5p leaves clear upside. In short, we see a low-risk gain in 6 months or a higher-risk gain further down the line on Page and Campbell pulling a deal off. At 21.5p, the stance is BUY. Key Data EPIC: CRK Market: AIM Spread: 20p 23p (13%) |
Posted at 10/3/2009 00:13 by outsizeclothes.com How much cash is left in the Company ?My back of matchbox figures say there should still be 36-39p per new share left. ( 8,344,723 shares & £3m or so, possibly £3.25m ) [ I've arrived at this counting that there was £30.3m on Dec 5th, with possibly £250k of interest to 5th March, minus £400k - £650k to do the distribution, lawyer, accountant, court etc. ] Would others agree ? |
Posted at 09/3/2009 13:23 by eburne1960 Clerkenwell Ventures announces that it has received Court approval for the Reduction of Capital. This approval means for every Ordinary Share held at the Record Date a Shareholder will receive 32.1 pence in cash. This amount is expected to be paid out during the week commencing 9 March. |
Posted at 19/1/2009 20:08 by eburne1960 tilton, I am not assuming the share price will match the NAV either, my figures assume that the shares will trade at the same discount to the residual cash as the discount they are now trading to the current cash, which IS an assumption, but not an unreasonable one. The residual cash would work out as c.4.2p a share, whereas I've assumed an equivalent bid price of 3.14p . |
Posted at 19/1/2009 19:21 by tiltonboy eburne,The point gilston is making is that he believes the share price will not match the residual NAV, and I think he will be proved to be right. I have bought mine as a (virtually) free call option on the future. tiltonboy |
Posted at 19/1/2009 18:56 by eburne1960 You don't seem to quite get my point. What I was pointing out was that you would have got around 15% more than you did get if you had waited 2 months. Here are the calculations:You got : 31.35p In 2 months you would have received: 32.1p. There will be c. £3.5m cash left; now I know this depends on what the price is at the time, but if you sell in 2 months' time at around the same price as you got for your holding (as the shares will have had a 1 for 10 consolidation), that equates to around 3.14p at today's price. 32.1 + 3.14 = 35.24p 35.24p - 31.35p/31.35p = approx 12.5%. OK I know that's not 15%, but the original calculation was in my head! The point still remains that 12.5% more than you got in 2 months is not a bad return, especially the way the market is at the moment. And having money tied up in this means I can resist the temptation to buy something like RBS and lose 67% in one day! |
Posted at 19/1/2009 17:31 by gilston Your calculation seems to value the package at around 37p. when the market currently values it at 33p. What you are getting in 2 months is only 32.1p cash & the balance in shares. So you seem to value those shares at 4.9p [ before consolidation] which to my mind, with little or no dividend, is a premium on this management team`s ability to perform & to raise fresh finance without dilution in a reasonably short space of time. I think that judgment is where we differ.But that is what makes a market! I have accepted a 5.8% discount [the bid/offer spread]on the current market price to realise cash, which I have now just received & will invest elsewhere. The spread today is 10% with a reduction in the bid price. |
Posted at 13/1/2009 18:44 by eburne1960 Yes, presumably you would have been happier that the directors bought the first business that came along and watched the share price fall 40 or 50 per cent, some people are never satisfied.....still all the more returns for those of us who better understand shares! |
Posted at 13/1/2009 13:52 by ostra Buy at 32.1 and you get all you cash back on March 3 - plus essentially a free bet at around 4p per share that the management won't fritter away the remaining £3m over the following 12 months. Best case scenario is they snap up a distressed asset at rock bottom prices just as the markets turn. Worst case is they return the remaining cash to shareholders after one year. Stefan Borson, one of the directors, will step down thus reducing expenditure. The cash is held with HSBC and Barclays so interest over the next year will be minimal but least it is safe. |
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