Chieftain Share Discussion Threads

[felix99] 27/6/2008 17:39

Looked like a dump at close KBC put it in backwardisation at 181. Got cleared pretty quick though . Reckon a big dump and then a ready buyer mopping up

[veryniceperson] 27/6/2008 17:08

Wow that was a large drop today so far only 1,000 traded

[davidosh] 11/6/2008 14:28

At last we have the agreement signed...

VT Group plc (VT) is pleased to announce that it has today signed a final legally binding agreement with BAE Systems plc (BAE Systems) on the formation of a surface shipbuilding and naval support joint venture company to be called BVT Surface Fleet Limited (BVT).

The formation of BVT will be the prelude to a full manufacturing contract for the aircraft carrier (CVF) programme, which will be signed by the UK Ministry of Defence (MoD) and BVT shortly. BVT will also sign a 15 year partnering arrangement with the MoD. This arrangement will guarantee BVT's leadership of defined future programmes with respect to design, build and through-life support. BVT will operate facilities in Bristol, Glasgow and Portsmouth.








About time too..hopefully now the contracts will soon start to work their way down the supply chain.

[davidosh] 09/6/2008 01:31

I will be very surprised if a significant amount of current and new work in the north east at present is not coming from the oil and gas sector as flagged up by the company in the recent RNS. I think this company may well be supplying quite a few of the recent contracts and may well be the un-named other party in the biggest ever contract awarded in that sector for Chieftain.

It certainly looks like there will be quite a bit more to come as well.

[davidosh] 21/5/2008 12:35

I think we need to be careful getting too emotive and excited but it does look like things are coming to fruition with very good contracts being gained in the oil and gas sector and the potential for more and then the very big bonus that is the work over many years on the carrier projects.

It is all about mkt cap v potential contracts at this stage if the aircraft carrier work comes through as we hope it does. For example a £2bn deal for a big FTSE100 company like BAE is very important but say £100m of contract work spread over the next eight years and passed down to CFT with a market cap of just £18m becomes rather more significant.

I guess there will be rumours and info in many of the media once this is signed off and work filters through but I doubt CFT will announce anything whatsoever unless they have been cast iron, concrete contracted and everything signed. I must add that I know absolutely nothing about the scale or size of anything in detail so this is not based on fact just to indicate where the potential reasons are for interest in the company whether in share holding or of course as a target for a larger player looking for a significant order book going forward.

All IMHO and DYOR

[philjeans] 21/5/2008 10:13

Looking very strong today on minimal buying - prepare for blast -off!

[domwilliams] 20/5/2008 13:53

Yes, fingers crossed, David.

Please see the last paragraph of this link, which states that "the BAE shipyard in Barrow will not be included as this is being kept separate as a specialised submarine builder."



So assuming Chieftain are in the BVT Surface Fleet Ltd consortium, they will be operating out of another yard?

[davidosh] 20/5/2008 13:16

Within touching distance now it seems...



It has been a long time coming mind you

[targatarga] 19/5/2008 20:20

Davemac3 - only if you held pre april 2001. regards

[davemac3] 19/5/2008 20:12

Is this isable?

Thanks

[philjeans] 19/5/2008 08:15

Chart looking very strong - news on the ship building side will trigger a strong breakout.

[jeff h] 18/5/2008 19:09

Yes, thanks for the posts david.

Various papers today saying govt will award carriers contract this week.

Looking good for CFT

[davidosh] 18/5/2008 18:25

There is a fair bit of detail in this local north east news story that I had not seen flagged up here before

[veryniceperson] 18/5/2008 10:45

Thanks for that davidosh

[davidosh] 17/5/2008 22:18

There were about twenty shareholders at the AGM ...a very good turnout and much praise for the directors and management having had a successful 2007 and continued with the recent contract announcement. There were a number of questions about how the company is managing the growth and the directors gave details of the way in which it is being handled. The number of employees now appears to be close to 1000 and it was confirmed that the Northern Echo story was correct. The company are now very busy recruiting all the new workers required and the average wage will be about £600 p.w so that really was a very very significant contract. I personally gained the feeling that it is very likely to open some rather important doors into that sector too !!

In short I would say that the AGM had a very positive feel with all directors in relaxed mode and looking forward to the future. I think a further reading of the last RNS more or less tells the story. The company used to be at the forefront in that sector and I think they are heading back there pretty fast. The FT story and possible contracts that flow through are not factored in at all for 2008 or future years and to be honest it did not seem to matter with so much in the pipeline (oil&gas ..no pun hehe !)

[domwilliams] 17/5/2008 20:47

Are any of our intrepid PIs back from the AGM yet, or is Bill Taylor still serving tea?



Looking forward to hearing any AGM reports.

[domwilliams] 16/5/2008 16:50

vnp - thanks for confirming. It was on the front page of the FT today, so hopefully the market will join the dots in due course...

[domwilliams] 16/5/2008 16:43

Is this the fabled 'two aircraft carriers' that CFT is linked to for fitting out?

MoD gets go-ahead to free up funds


"Gordon Brown has agreed to let the cash-strapped Ministry of Defence free up hundreds of millions of pounds by breaking one of its main accounting rules so it can finally give the go-ahead to a £4bn contract for two aircraft carriers."

(probably needs free subscription to read)

[targatarga] 16/5/2008 11:15

hope everyone has a good agm.... regards

[jeff h] 13/5/2008 20:00

Nearly there with the govt and the aircraft carriers (thought that many times before though!):-

"£4bn contract to build two aircraft carriers for the Royal Navy, safeguarding 10,000 British shipyard and allied jobs and creating 1000 more, is to be signed soon, after months of apparent paralysis in Whitehall, the Evening Standard has learned.

Construction and maintenance agreements will be 'signed off in a matter weeks' by Ministry of Defence officials in a deal that gives a green light to the merger of the ship-building interests of BAE Systems and VT.
There had been fears the contract could be mothballed or abandoned. VT chief executive Paul Lester said he had yet to officially hear of the go-ahead but added: 'We believe we have real momentum on this now.

'We have said all along that if we don't sign off on this in the next few months, we would be into slippage mode. That means having to lay people off and cost overruns.'"

[davidosh] 09/5/2008 15:55

I do not expect the directors and key shareholders would even remotely be interested in a bid before the long awaited possible contracts for the aircraft carriers are awarded. If successful the order book will then be huge, very secure, and visibly long term.

That will put CFT in the shop window, in its Sunday best and looking rather attractive IMO. Another year of growth behind the company and a good dividend in the meantime....I can be patient.

Anyone here going to the AGM next Friday ?

[targatarga] 08/5/2008 23:06

daily express today mentions cape looking for acquisitions