Share Name Share Symbol Market Type Share ISIN Share Description
Cerillion PLC LSE:CER London Ordinary Share GB00BYYX6C66 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +6.50p +4.91% 139.00p 137.00p 141.00p 139.00p 132.50p 132.50p 23,235 15:57:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services - - - - 41.02

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29/1/200809:06Celtic Resources - Cash, Revenue & Projects415
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DateSubject
27/9/2016
09:20
Cerillion Daily Update: Cerillion PLC is listed in the Software & Computer Services sector of the London Stock Exchange with ticker CER. The last closing price for Cerillion was 132.50p.
Cerillion PLC has a 4 week average price of 126.05p and a 12 week average price of 115.07p.
The 1 year high share price is 143p while the 1 year low share price is currently 77.50p.
There are currently 29,513,486 shares in issue and the average daily traded volume is 24,743 shares. The market capitalisation of Cerillion PLC is £40,581,043.25.
08/4/2016
10:36
nfs: Are there any forecasts for this new company?Share price rising steeply
10/11/2007
15:58
shutler: Oxus, which definitely felt like a multiple mugging exercise...thankfully managed to exit around level in the end (so a prolonged period of dead capital). More recently Ovoca, which again I've not lost anything on, but did see the share price go up over 50% only to see some Russian civil servant (for whom one broker has developed a specific term to apply to his impact in share prices - 'the Mitvol factor' I believe) trot out various statements of breach of environmental law, apparently wholly unsubstantiated, nevertheless the share price dropped around 50%. Following the drop, Ovoca purchased the remainder of the Goltsovoye Licence which required the issuing of loads more share options to the majority Russian shareholders at around 8p, rather than what would have been substantially less shares had the price remained or exceeded the 14p it had reached prior to the statements of breach... Whilst it's impossible to be sure what's going on here, I certainly have the feeling of a theme developing with investments in this part of the world, one which makes me consider them undesireable.
12/10/2007
11:52
tigerinvest: * An excellent portfolio of assets, with gold production expected to reach 90,000 ounces in 2007 and planned to rise substantially in 2008; and molybdenum production anticipated to reach 1.5 million pounds in 2007 * The proven ability to use the technologically advanced biological process for gold recovery (BIOX(R)) for gold production in the Former Soviet Union * A track record of generating profits from the trading of mining assets * A strong financial position, with cash of US$34.4 million at 30 June 2007, and a further US$26.5 million in cash received for the sale of Miheevskoye at the end of July 2007 --------------------------------------------------------------------- Celtic Resources Holdings Plc Letter to Shareholders The below is the text of a letter being posted today to shareholders of Celtic Resources Holdings Plc: "Dear Fellow Shareholder, REJECT SEVERSTAL'S PROPOSED OFFER Background On 5 September 2007, Severstal approached your Board with an unsolicited and highly conditional potential offer of 220 pence per share for the entire issued share capital of Celtic Resources Holdings Plc ("Celtic" or the "Company"), which your Board unanimously rejected. On 19 September 2007, Severstal acquired shares in the Company at a price of 232 pence per share. On 27 September 2007, the Company announced that a third party, other than Severstal, had approached Celtic with a view to making an offer for the Company. On 28 September 2007, Severstal announced its intention to make an offer for Celtic at 270 pence per share. Your Board, who are being advised by Gleacher Shacklock LLP and Strand Partners Limited, unanimously consider that Severstal's proposed offer of 270 pence significantly undervalues Celtic. Severstal has still to dispatch its formal offer document, but has taken the extraordinary step of sending you a letter urging you to accept its offer, before it has been made. Accordingly, your Board felt it was appropriate to write to you now, rather than wait until Severstal sends you its formal offer document. I will continue to keep you informed of all material developments during the course of the offer. Celtic's key attractions Severstal's proposed offer of 270 pence per share fails to recognise the Company's excellent strategic position, planned growth in production against a background of a high and rising gold price and our cash rich balance sheet. Severstal is trying to buy Celtic cheaply. It is trying to take possession of: * A highly experienced management team with a strategy for driving shareholder value * An excellent portfolio of assets, with gold production expected to reach 90,000 ounces in 2007 and planned to rise substantially in 2008; and molybdenum production anticipated to reach 1.5 million pounds in 2007 * The proven ability to use the technologically advanced biological process for gold recovery (BIOX(R)) for gold production in the Former Soviet Union * A track record of generating profits from the trading of mining assets * A strong financial position, with cash of US$34.4 million at 30 June 2007, and a further US$26.5 million in cash received for the sale of Miheevskoye at the end of July 2007 * Direct exposure to the financial benefits of a high gold price Celtic's prospects as an independent company are excellent. Severstal is trying to buy Celtic without paying for these prospects. You should not accept Severstal's proposed offer. Response to Severstal's letter of 8 October 2007 In its letter which was sent to you on 8 October 2007, Severstal made a number of assertions which we can refute. (a) Severstal wants you to believe that Celtic's Board did not properly consider its proposed offer on 28 September 2007. We did. Severstal first approached the Company more than 3 weeks beforehand, on 5 September 2007. The uncomfortable truth for Severstal is that your Board, and its advisers, unanimously consider that 270 pence per share significantly undervalues your Company. (b) Severstal claims that Celtic's board has a "confused strategy". When Severstal first became a shareholder in Celtic in August of this year, it went out of its way to praise Celtic's management team. In its announcement of 14 August 2007, it said, "We think particularly highly of Celtic's management". It has changed its tune since it decided to try to buy the Company. (c) Severstal asserts that if its proposed offer fails, there is a likelihood that the share price of Celtic will fall significantly. Severstal cannot know this. It is also choosing to ignore the gold price - between 1 January 2007 and 17 September 2007 (the day prior to our announcement of an approach), the gold price rose by approximately 13% and Celtic's share price by approximately 24%. Your Directors consider that the combination of rising gold production levels and a high gold price will continue to underpin a strong Celtic share price in the absence of any offer. (d) Severstal has implied that I, your Chairman, sold shares in Celtic during the summer. I did not, and Severstal knows this to be the case. Conclusion Your Board, which has been so advised by Gleacher Shacklock LLP and Strand Partners Limited, believes that Severstal's proposed offer significantly undervalues Celtic and unanimously recommends that you should take no action in relation to the proposed offer. In providing advice to the Board, Gleacher Shacklock LLP and Strand Partners Limited have placed reliance upon the Board's commercial assessments. Your Directors' intention is not to accept Severstal's proposed offer in respect of their own beneficial shareholdings, amounting in aggregate to 5,844,462 shares, equivalent to 10.47% of the Company's issued share capital. When Severstal does send you its offer document and accompanying form of acceptance, do not complete it. In short, DO NOTHING. I will continue to keep you informed of all material developments during the course of the offer and will be writing to each of you again once the Severstal offer document is published. Yours sincerely, Peter Hannen Chairman
12/10/2007
11:48
tigerinvest: Finally some proper coverage:-) Celtic board rebuffs Severstal By Lucy Killgren Published: October 12 2007 09:56 | Last updated: October 12 2007 10:52 Celtic Resources, the Aim-listed gold miner, on Friday moved to reassure shareholders over its share price and gave further details of its reasons for rejecting a revised potential bid from Severstal of 270p a share last month. Celtic said in a letter to shareholders: "Severstal wants you to believe that Celtic's board did not properly consider its proposed offer on September 28. We did. The uncomfortable truth for Severstal is that your board and its advisers, unanimously consider that 270p per share significantly undervalues your company." Celtic's comments came in response to a letter earlier this week from the mining arm of Russia's biggest steelmaker, to Celtic shareholders in which it said the board had a "confused strategy" and warned of the possibility of share price fall if the Russian group withdrew its indicative offer. It also said that if it did not receive the 80 per cent acceptances from shareholders necessary for compulsory acquisition, as the largest single shareholder, it would run Celtic as a subsidiary. Celtic rebutted Severstal's claims saying that Severstal had gone out of its way to praise Celtic's management team when it first became a shareholder in Celtic in August. Celtic also moved to reassure shareholders over the possibility of a share price fall. The Russian steelmaker had said that if its £161m all cash offer was not accepted or withdrawn, Celtic's share price could collapse. Celtic on Friday said the combination of rising gold production levels and a high gold price would continue to underpin the share price in the absence of any offer. A spokesman for Severstal said on Friday that the 270p offer represented a significant premium to the undisturbed share price before the company became a target. He also emphasised that it offered the certainty of cash. Celtic has been fending off Severstal since September, first rejecting a 220p a share proposed offer on September 25, then days later took just half an hour to spurn a revised 270p all cash offer, saying it was pursuing a possible rival deal. Celtic on Friday added that the proposed 270p offer failed to recognise the company's strong strategic position, its planned growth in production against a backdrop of a high and rising gold price and its cash-rich balance sheet. Celtic said: "Severstal has still to dispatch its formal offer document, but has taken the extraordinary step of sending you a letter urging you to accept its offer before it has been made." On September 27, Celtic said a third party, other than Severstal, had approached Celtic, although Celtic has not said who the new suitor is. Earlier this week, Severstal said its 29.7 per cent stake could be used to "block any other party from acquiring full control of Celtic and could potentially dissuade third parties from making a competing offer". Since news of the bid interest in Ireland-based Celtic, the company's share price has risen dramatically, from 149p in early July. On Friday, shares were unchanged in early trade at 278p in London. Copyright The Financial Times Limited 2007
07/10/2007
14:26
eastwind: Severstal only speaks for 29.7+6.6% of shareholders. How can it install a management of its own and treat CER as a subsidary? I used to be a shareholder of EKA. I got CER due to its acquisition (equivalent price of CER is 200p). I was glad that EKA was saved from bankrupcy by CER. 12 months ago, when EKA was in trouble, no other company came to its rescue. Although Foo is responsible for the demise of EKA, I think he did quite well in running CER recently. The value of CER is significantly higher than the 270p offered by Severstal. CER will produce 120kounce of gold and 0.8 mlb of moly in 2008. (The Company is currently completing advanced studies on the potential expansion of Suzdal to result in production in excess of 150,000 ounces per year by the end of 2008.) The cash cost of gold for 1H 2007 was $346/ounce and $12/lb. If we assume the cash cost will remain the same (although should be lower due to higher output), gold price to be $700, moly price to be $30. The pretax profit will be $56.9m. Assume tax rate of 40%, then after tax profit will be $34m = £17m. EPS = 17/60 = 28p. If we assume a PE of 15, then share price should be 420p. If we include CER's cash ($61m, 51p per share) and other exploration assets, the share price should be significantly higher. At 270 bid price, I will certaintly not tend my shares. If Severstal call an extraordinary meeting, I will not support installing a management of its choice. I am afraid that Severstal will ruin the company and buy CER on the cheap. PapalPower, on EKA days, you said it was worth a lot more than the price offered by CER. I totally agreed with you. Given EKA's acquisition by CER, I think the value of old EKA can be better realised. I migh tend my shares if the offer price is 420p or more.
07/10/2007
10:34
papalpower: I would be more than happy if they kicked the complete board into touch. Come on Servestal, go for it :) http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article2602490.ece From The Sunday TimesOctober 7, 2007 Threat to oust miner's boardJenny Davey SEVERSTAL, the giant Russian miner and steelmaker, will turn up the heat in its hostile bid for Celtic Resources tomorrow by in effect threatening to oust the mining company's board if it fails to gain the backing of 80% of shareholders for a £161m takeover offer. The company, through its wholly-owned subsidiary Centro-ferve, will write to the shareholders of AIM-listed Celtic, confirming that it will launch a formal 270p-a-share hostile bid for the company, even though it has been rejected by the Celtic board. The group will criticise Celtic's management for rejecting its bid only 33 minutes after the offer was announced. It will also accuse the Celtic Resources directors of unnecessarily placing the company shareholders' money at risk by not recommending the offer and suggest the board puts continued independence above shareholder value. Severstal will warn the management that if acceptances fall short of the 80% threshold, it will call an extraordinary meeting and oust the board, install its own management team and run the business as a subsidiary. The company already speaks for 29.7% of the shares and Bar-rick Gold Corporation, which owns 6.6%, has indicated it is prepared to accept the Severstal offer as well. A spokesman for Celtic Resources said: "The 270p-a-share offer substantially undervalues the company. The share price has been ahead of the offer price because it is an attempt to buy the company on the cheap." The spokesman added: "Had Severstal wanted to behave in an honourable fashion they would have conducted this conversation in an entirely different way. "We will make sure shareholders get the best price for their shares." The company had previously announced there was still takeover interest from another party and it said this weekend the interest continued. The share price closed at 280p on Friday.
28/9/2007
17:51
lasata: LONDON (Dow Jones)--Celtic Resources PLC (CER.LN) soared Friay after it quickly rejected a raised offer of 270 pence a share from Russian steelmaker OAO Severstal (CHMF.RS), saying the bid "significantly undervalues the company." Celtic also disclosed Friday that it had been in talks with another party, saying those talks "may or may not" lead to a bid for Celtic. It didn't name the party, however. Celtic's shares closed up 53 pence, or 23%, at 284 pence, far in front of a mixed mining sector. Severstal on Friday raised its offer for Celtic, a London-listed gold miner with operations in Kazakhstan, to 270 pence from 220 pence, valuing the company at GBP161 million. Celtic had rejected the earlier bid of 220 pence per share on Tuesday. On Friday, it said in a statement that the latest Severstal offer also "should be rejected by shareholders." "We are surprised by the speed of rejection and the lack of consideration that Celtic have given out offer," a Severstal spokesman said. The spokesman said that Severstal has found willing sellers among the Celtic's shareholders, including a letter of intent to sell shares from Canadian miner Barrick Gold Corp. (ABX). Severstal said that as of Friday, it either owned or had unconditional acceptances for 29.7% of Celtic's stock, a figure that would rise to 36.3% if it buys Barrick's stake in the company. Severstal said Barrick has sent it a letter of intent to sell when the bid becomes unconditional. "Our offer is public, it is certain, it is a substantial premium and it is cash," the Severstal spokesman said. Severstal last month built a 22% stake in AIM-listed Celtic when it bought a block of shares from Aton International Ltd., a unit of UniCredit SpA (UC.MI). Before Severstal made public its stake, Celtic's share price was down almost 36% over a 12-month period at 154 pence. Natixis Bleichroeder analyst Jonathan Guy said Severstal's first offer was likely a low-ball approach to see who else would bid and at what price. Guy, who has a buy recommendation on Celtic, values the company at 291 pence a share. "That's the minimum price
18/9/2007
08:40
zolota: You really wonder what does it take to shoot this share price up. The stream of good news goes on and on. It has a positive cash flow, a lot of cash in hand, gold production going towards >100k ounces, moly production going up. Gold prices increasing rapidly. New exploration projects. All together they can easily earn more than 40mln USD justifying a share price of over 4GBP. No wonder it is a takeover target. However it should be at a siginficant premium. The big difference with EKA is that EKA was running out of cash, whereas CER is piling up too much cash. Besides this is Kevin Foo's baby and I am sure he wouldn't like to part with it without a serious price. This leaves only one question why is the share price not shooting up. Can anyone please explain??
17/11/2005
10:33
doobydave: Ian, Have you seen VOG today? As I write, Celtic's 9.9% share of VOG is worth ~£7m. Celtic's market cap is £82m so we should have an other 17p or thereabouts on the CER share price. But wait till Monday. By then it might really count... David
28/2/2003
00:43
monstermouse: The response of the CER share price to the adverse press reports is particularly perplexing. After the bad Russian press reports appeared at the end of November 2002, the share price dropped from around 110p to around 90p, since then the share price has steadily increased to 125p. The most recent Russian press article seems to have been ignored, at least by shareholders. The Nezhdaninskoye deposit has frequently been referred to as Celtic's principle asset. You would expect that the threat of the loss of Nezhdaninskoye would cause the CER share price to collapse. It has not. Is this because: i. Buyers do not know about the Russian press reports. ii. Buyers know about the Russian press reports but they know the full story. iii. There is a false market and the share price bears no resemblance to reality. All very strange. MM
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