Capital Management Share Discussion Threads

[phil2003] 14/9/2005 00:41

Having inherited blakes clothing shares recently I've atlast discovered...

blakes clothing suspended / hugely ramped 2001? and become.....
x-centric - subsiquently suspended / ramped to over £2+ at height of dot com boom / subsiquently suspended and becomes.....
capital management.

There's one common theme throughout the life of this holding and without naming (pizza eating) names or throwing stones, these are getting sold to offset my 2006 CGT and nothing more - management should be ASHAMED OF THEMSELVES and I suspect leopards don't change their spots.

terrible, terrible history to these shares.
I HOLD THESE SHARES AND I SAY AVOID LIKE THE PLAGUE unless current risk / reward appeals (which it really shouldn't if you've dyor)

be lucky.

[cloggs77] 08/9/2005 18:55

With the risk of sounding like a novice to all this jargon, (which I am!!), -
1)If some shareholders decline the Mandatory offer and yet the required 50% yes vote is reached does this mean I would be forced to sell my shares at the offer price anyway?

2)If I did not respond to the offer entirely would this be taken as accepting or declining the offer.

Someone help me out, PLEASE!

[lbo] 08/9/2005 14:29

Fevered imaginations

Osmond told to bid for CMI
Merger fever is with us again. The City is awash with takeovers, but here's one that nobody wants.

Capital Management and Investment certainly has no desire to be bought by a little concert party that already has 37pc of its shares.

The party members would much rather go to one of the pizza restaurants that Hugh Osmond used to run than bid for CMI. Meanwhile, 35pc of CMI'S investors have given irrevocable undertakings to treat the concert party more disdainfully than an evening with Des O'Connor.

The only audience that wants to be entertained is the Takeover Panel, which is conducting a takeover performance by an orchestra that simply doesn't want to play.

Over the past few years, CMI has morphed from being a menswear chain to exploiting the dotcom boom and then being used as a vehicle for a takeover tilt at pubs to hotels group Six Continents.

Now it has a nice little investment in a modular construction (please don't call them portakabins) company. But the portable company has recently flushed up a takeover of a portaloo firm (you really couldn't make this up) and that meant some new investments by the concert party members.

At this quaver in the performance, the Panel decided the concert party was bigger than when it last checked four years ago. The result already looks like a farce.

The Panel could have waved at the concert party members until they sold their 37pc holding back down below 30pc. Or forced an extraordinary general meeting to give CMI shareholders other than the concert party the chance to approve the arrangement. Instead it is orchestrating a takeover at a hefty discount to CMI's share price. If anyone is foolish enough to accept, might there be a mis-selling investigation?

[linhur] 26/8/2005 17:48

Ram

Riverbay have increased their holding from 13.09% to 15.71%.
At the AGM the directors said Riverbay were an offshore company but did indicate who they represented. I suppose they are a hedge fund(??)

As far as I am aware they are not part of the concert party.

regards
Linhur

[rambutan2] 26/8/2005 15:05

interesting...
Holding in Company

The Company received notification yesterday that, following market purchases on
22 August 2005, Riverbay Properties Limited is now interested in 36,623,500
ordinary shares in the Company.

The registered holder of these shares is Riverbay Properties Limited as to
1,000,000 shares and Fitel Nominees Limited as to 35,623,500 shares.

[linhur] 15/8/2005 10:03

Thanks Ram and LBO for the links.

It looks like the Guardian has put 2 + 2 together to reach 5.
Unless there is a sudden need to have a plc to buy a large closed life fund I would have thought all the life fund purchases would have been done through Resolution.

Looks like a silly season story.

My reading of CMIP is the next item is a refinancing of Ristretto which hopefully will come by the end of the year or first quarter 2006.

kind regards
Linhur

[rambutan2] 14/8/2005 23:46

not sure what to make of it?

Traders said there was a buzz around Capital Management and Investment, the shell company financier Hugh Osmond once used to make a hostile bid for hotels and pubs group Six Continents. City speculators believed Mr Osmond might reverse the life assurance business he purchased for £1bn in April from Henderson Group, off 0.5p at 69.75p, into Capital Management, unchanged at 15p.

[linhur] 08/7/2005 13:00

Agree with your comments.

Its probably going to be refinanced before December 2006 as that is when the options expire.Its a 17 month investment as you would know by end Nov 06 whether TDR/CMIL have succeeded.

kind regards
linhur

[rambutan2] 05/7/2005 15:40

hi linhur, im just dashing off to one - lti.

am still thinking about cmip. it is a one shot co ie a bet on Ristretto/Algeco. but being a vc bet means i imagine the rtns could be v substantial.
as you say, they putting plenty of their own money in.
if successfull should go up a multiple id have thought.

regards
rambutan

[linhur] 05/7/2005 15:21

Hi rambutan

Just spent a couple of days looking at the documents.

Quite a complex set up.
Downside is that Algeco/Elliott do not do the business.This is unlikely as CMIL have 2 directors on board at Ristretto and so have an inside view on proceedings even if they have little control. If the investment does not perform the convertible loan means the concert party can increase their stake from 37% to 58.5% at a cost of approx 10p per share.

The upside is that Ristretto/Algeco is refinanced by December 2006 and the gains are distributed to CMIL and the loan is converted into say 70mill shares at say a cost of 14/15p.
The Loan will only be taken up if the deal for Elliott is done. Downside is 12% interest whilst it is running - free load for concert party.

I am encouraged by the amount of money the directors/concert party have put/ are putting into CMIL.

The current share price is a bit high but if you already hold I suggest you keep on a 18 month holding time.I would only buy more if share price comes back to 10/11p.

kind regards
linhur

ps might go to meeting if I can get up in time!!

[rambutan2] 02/7/2005 23:34

spot on linhur.
any thoughts on the details?

[rambutan2] 15/6/2005 09:55

hello linhur,
im still working this one out and pondering on the potential of ristretto.

regards
rambutan

[linhur] 14/6/2005 22:13

Steady progress on Ristretto.
I am expecting the full £15mill investment in Elliot to be taken up with the Company contributing £5mill cash and the other £10mill from the new convertible stock.As the convertible is only changeable into shares at say 17p it will be not too dilutive.

all IMHO

linhur

[rambutan2] 13/6/2005 11:10

results out.
little excitement!

[rambutan2] 25/3/2005 14:06

TDR Capital LLP - Updated: 20 Jul 2004 (UK)
TDR Capital is a private equity fund management firm established by Manjit Dale, Stephen Robertson and Tudor Investment Corporation, which specialises in European mid-market buy-outs.

[rosemarydoyle] 28/2/2005 11:05

spread? announcements in the air?

[gruffly bear] 25/2/2005 13:16

RNS Number:0406J
Capital Management And Investment
25 February 2005


Capital Management & Investment Plc ("CMI")

25 February 2005

Acquisition of Field Capital Limited

The company announces that it has today acquired the entire issued share capital
of Field Capital Limited ("Field") for a total of #1.823m. The consideration is
to be satisfied by the issue of 13,021,429 new ordinary shares of 1p each in CMI
at 14p per share.

Field showed a profit after tax of #78,777 for its latest audited financial year
ended 30th April 2004. At that date its net assets amounted to #4,660,110,
comprised largely of cash. #2,967,084 was used to complete a partial share
buyback in January 2005. Field currently has #1.818m of cash and no other assets
or liabilities. Under the Sale and Purchase Agreement, the Vendors of Field have
warranted that the cash held by Field on completion will be at least #1.818m.

Field Capital is wholly owned by Alan McIntosh and Hugh Osmond, who are each
directors of CMI. As such, the acquisition of Field represents a "related party
transaction" under the AIM Rules. Messrs Osmond and McIntosh have not taken part
in the negotiation of the terms of the acquisition with CMI.

The Independent Directors, having consulted with the nominated adviser, Brewin
Dolphin Securities, believe that the transaction is fair and reasonable insofar
as shareholders of the Company are concerned.

As a result of the transaction Mr McIntosh acquired 6,920,711 shares taking his
holding to 25,571,824 shares (representing 10.23 per cent of the enlarged share
capital). Mr Osmond has as a result of the transaction acquired 6,100,718 shares
taking his aggregate holding to 24,977,264 shares (representing 9.99 per cent of
the enlarged share capital).

Application has been made for the new shares to be admitted to AIM.

Following this issue the total shares in issue will be 249,938,158.

ENDS

[gruffly bear] 26/1/2005 17:17

All I can see is directors buying and one non direct buying a stake. I assume they know better than anyone whether the new investment is working out well and can only assume that they see real value in the shares at this price.

There is certainly some interest here that was not present befoire (well not for some time) but I guess we will not know the full details until some more newsd is announced...but I am quietly optimistic. However, I have a way to go before seeing profit on this so have topped up on the back of the apparent director confidence.

[petejay] 26/1/2005 17:06

This one seems to be moving north at last
Anyone know why?
Could be time to top up.

[gruffly bear] 19/1/2005 17:01

some interesting trades today - well out of the ordinary - wonder what is going on? anyone heard anything?

[mikepstevens] 30/11/2004 20:59

pete......take that as a no then!

Do you know if these shares were consolidated within the last few years?