Bateman Litwin Share Discussion Threads

[pelleeds1980] 23/9/2009 10:50

Shuffle must confess to bailing on GAH at a mere 20% profit sometime ago hence my silence on that board. Been chasing a few quicker moving stocks recently but glad the results were decent

[barnetpeter] 23/9/2009 10:28

Well I bought some at 12p. The statement looks more positive to me than the mkt took. Business is improving and they are sorting things out. Debt is an issue but they have cash and selling off bits and pieces can only help. Very risky but a huge business at a 15 million mkt cap.

[the shuffle man] 23/9/2009 10:20

Pel at least you are getting something back with GAH excellent results yesterday and poised to go higher.

Good luck with these, they do look cheap but until all the negatives disappear from their statements they are going to languish at these low levels AIMO

[pelleeds1980] 23/9/2009 10:02

Cheers, long way back to my average now.

[kfp] 23/9/2009 10:00

Yes a lot of buyers on L2

[pelleeds1980] 23/9/2009 09:55

Drop overdone?

[jailbird] 04/9/2009 19:02

on my monitor,

but jury is still out regarding funding and forward outlook/order book

I rather buy after any (good)news as there will still be scope of a decent rise afterwards.

[broshm] 04/9/2009 17:42

well ! wonder how the price is set ?

[broshm] 04/9/2009 16:33

can you believe the trades statement re buy/sell ? they have almost all been buys ,
for the past few weeks ,price does not reflect this ?

[masurenguy] 04/9/2009 01:30

Quiet thread, inspite of the recent 'now you see him, now you don't' Chairman game. Some buying this week - is there some news in the pipeline !

[pelleeds1980] 09/7/2009 15:09

up 8% after that rumour?

[simon gordon] 09/7/2009 13:20

Tom,

Alphaville are pretty good on the rumour front. Murphy & Hume have a good ear to the ground.

=====

Interims:

Funding Developments

*The Company has agreed revised banking covenants that were previously in breach following the announcement of its 2007/08 financial results

*In the context of current trading and the global banking crisis, management is taking steps to prevent a breach of the revised covenants and to secure further banking facilities

*After the period end, BSG Resources provided a US$7 million loan, bringing the total loan provided by BSG Resources to US$17 million

=====

Maybe they have breached new covenants or need more capital. If so it could go the way of BATE. I'm out, there is no smoke without fire.

[53tom] 09/7/2009 13:02

Hi
I thought they had sorted the banking covenants and that they had 50 to 80 million usd in cash?
Who are Alphaville and how do you rate the information/ rumour? I can read the same with a search on the site.
It is so difficult to assess if info genuine or deliberately false these days.
Any thoughts.

[simon gordon] 08/7/2009 12:20

Looks screwed, a la BATE, if this rumour is correct:

Alphaville - 8/7/09:

NH - something called Bateman Litwin

NH - involved in oil field services I think

NH - off 1.5p at 14.25p

NH - rumours that talks with its lenders are not going to well

NH - and some sort of fund raising could be on the cards here as well

[m w] 01/7/2009 20:34

About to move up

[yellowdog] 19/6/2009 12:44

Its time for a trading update.Anything positive and the shares could fly.

[jailbird] 05/6/2009 10:24

I see IC mentions the
BEAR POINTS:

■ Slowdown in big projects

■ Litigation ongoing

Litigation,has been resolved now.

[pelleeds1980] 12/5/2009 11:39

20 p proving difficult to get past for some reason

[simon gordon] 12/5/2009 11:37

IC - 11/08

Bateman Litwin

Bateman Litwin's shares have fallen heavily over the past 12 months to 35p as the company's rapid growth, both organic and through acquisition, came back to haunt it. The supplier of engineering, procurement and project management services to the oil and gas industry appeared to lose focus and a slew of projects were costed uneconomically. It also suffered due to the acquisition of Delta-T, an engineering business specialising in the ethanol sector.

The punishment handed out by Bateman's shareholders following a profit warning was harsh to say the least: its shares are down 95 per cent from their 12 month peak. But a new management team has been parachuted in to clear up the mess and has already started rationalising operations in order to create a more harmonious global operation. In its recent preliminary results the new management team took the opportunity to lay bare the problems its predecessors had created. A hefty $88.2m (£55.8m) was set aside in exceptional charges against legacy project costs, $43.9m of which relates to potential future costs.

Bateman still has cash in the bank and its largest single shareholder, BSG Resources, has pledged further cash support. What Bateman also has is a hefty order backlog worth $1.3bn, which offers visibility for the next 18 months. Although it serves the oil and gas industry, where lower commodity prices threaten some investment decisions, Bateman's expertise remains in demand and its prospects, even on a reduced scale, appear solid. Bateman is one of the riskiest of our recovery plays after its recent travails and it has admitted that it could potentially breach its banking covenants. But the potential upside for a company valued at just three times this year's EPS, compared with a sector average of 10 times, is considerable.

[stegrego] 06/5/2009 19:59

Noticed you removed the TURKEY picture from the thread Simon....

Im assuming you are now long.

Not sure its worth the risk still with the last of the Batemans...