|Cleantech Building Materials
||EPS - Basic
||Market Cap (m)
|Nonequity Investment Instruments
Real-Time news about Cleantech Building Materials (London Stock Exchange): 0 recent articles
|lizzie ii: The rise in the share price today is great, but with WTN now at 111p, CBM are still a cheap way into WTN. The takeover terms are 0.75 of a WTN share for every 1 CBM share, and 0.75 x 111p = 83.25p ... about 6p above the current CBM share price of say 77p.
The takeover is scheduled to go through "early July".|
|papillon: CBM still worth a punt if you fancy the merger will go through on the previously announced terms. WTN closed at 84 cents on TSE. At current exchange rate that gives 47p which translates to 35.25p per CBM share; 10p up on the current CBM share price A big enough discount to give a fair degree of protection if the WTN share price falls back.|
|papillon: You are probably correct lefrene however I suspect that WTN will receive a re-negotiated price for the carry over tonnage of around US$150-160 per ton (CAN$185-197) for HCC in line with the prices re-negotiated by some of its peers, with, say US$120-130 per ton (CAN$147-160)for PCI. With lower extraction costs that should still give a useful profit to WTN.
Still plenty to go for in the CBM share price I calculate that at the current WTN share price each CBM share will be worth around 25p by the time the merger goes through (assuming WTN share price stays the same!!). WTN has opened up on the TSE but has it peaked short term?|
|johncraven: WTN getting a move on there aswell shame CBM share price so depressed|
|pbracken: Yes, but DR overlooks the fact that we - through CBM - are acquiring a stake in a business worth three times our (current) value at a transfer rate that assumes a premium to the current CBM share price.|
|volvo: Someone knows something.
We are out performing the market and the support is constant.
Someone asked yesterday what a offer of 5 dollars for WTN will do for the CBM share price.
Here is the detailed response.
Fully dilluted CBM own 87m shares in WTN so in cash terms that is 435m canadian dollars or 220m pounds.Allowing 20pc tax,will be less, is 176m pounds or a share price of 1.44p.
So imo we will trade at 1.50p minimum if this deal is successful.
What back up is there at this price.At 53p we are valued at 62m and our WTN shares alone are worth 74m.The results for both WTN and CBM are within 14 days, with WTN making 100m canadian dollars in 3 months and CBM signing new contracts for its coking at 230 dollars a tonne.
So you can buy for the offer or for the results imo.|
|volvo: If gowtn is right then Audley and CBM would just agree the price for the shares as they have over 63pc of WTN between them.No waiting for outsiders there.
Edit Audley own 28pc of CBM and 20pc of WTN.It would be good business for them to finance the deal.
Audley get the bonus in the CBM share price and the bonus in WTN share price when WTN cancel the 43pc held by CBM.They would also get a large finance fee and probably more shares.|
it does sod all for the cbm share price though and are we not here to make money?|
|seagreen: Volvo I bow to your superior knowledge but I think a £5 RNS is seriously low balling it but if that is what it is then a bidding war will break out as others more knowledgable than I can not see much lower than £7 or maybe £6 I guess.
Alos if you take the original schedule of key listed investments from June 17th and substitute todays closing value for WTN of circa US$6.53 at todays exchange rate of 1.9197 or £3.40 for the then valuation of WTN on June 17th of £4.34.
you get a nav of £3.74 a share (as oposed to June 17th valuation of £4.49) for CBM (sorry have not played around with CLN/EBG etc etc )........So we are trading at about a discount of 35% to NAV at todays valuation so looking good at these levels regardless...would expect it to be at £2.80 pre any rns anyway as 20% discount is fairer!
Anyway another logic that shows there aint a bid premium in CBM share price either !|
|bobbieblock: Im intrigued by the prediction of CBM selling WTN for £6 a share. That would value the company at Circa £1billion. Back of envelope calculation has pre-tax proft around £300 mil wih very strong HCC prices predicted for next few years. Why exactly would CBM divest itself of an assett over the summer when surely a further re-rating will come about when Q1 and especially Q2 production and costs released showing the expected profit.
I think WTN and CBM are putting a for sale sign up early when a PE of 5 for 2009 has WTN around 9 pounds. I hope CBM demand a hefty premium before contemplating selling in the current bear market.
However also remember that the announcement also talked about other paths besides take overs. What would happen to the CBM share price if they saccrificed they're shares for a direct revenue intrest in a mine set to produce 5mt at prices widely reported to be heading to $350 tonne. Or an effective reverse takeover of CBM, divesting of its metals division and then seeing what price of an enlarged group producing nearly 8MT coal (inc energybuild) would attract.
That would unlock value traps, leave the enlarged group as a multi-mine operator in stable economies with average gross profit in excess of £50 tonne. Combined market cap excluding shares owned by CBM in WTN and CLN is currently £500mil. PE of 5 for 2009-10 puts enlarged group at £2.5 billion, a significant premium to todays prices.
Cleantech share price data is direct from the London Stock Exchange