Cabot Energy Share Discussion Threads

[kingcnut] 29/7/2004 12:51

worse than worse than dire

[archangel gabriel] 29/7/2004 12:23

Calmer waters in next year's H2! Dire. Worse than dire.

[archangel gabriel] 16/7/2004 13:23

Unless already done placing looks 10p or more probably sub that allowing for greed.

[archangel gabriel] 14/7/2004 11:45

Assume news of the placing will be issued with results for the year? Last year it was 31 July so could be just over 2 weeks away. We know the results will be appalling and someone is still selling a few k most days. All depends on outlook and what they say about current trading I suppose.

[esrimeur] 08/7/2004 10:15

Thanks.

Just realised that 14p was the price for the abandoned, underwritten, rights issue announced last Oct, not for the placing subsequently announced in it's stead. So I guess we may see a placing at 11p-ish, barring any uncharacteristic move in the current share price At which level I may be interested, so I'll speak with WHI.

[esrimeur] 08/7/2004 09:22

I'll take the fact that you've posted here, Ian, to mean that fresh faces are being actively sought.

[ianproud] 08/7/2004 09:16

A point of contact for potential investors through their brokers.

8 July 2004


Carbo plc appoints W H Ireland as its Broker

Carbo plc, the Manchester based industrial abrasives manufacturer and distributor, has appointed W H Ireland as its broker. As both have headquarters in Manchester, the company will be able to maintain a very close liaison with its broker.

Commenting on this appointment, Lord Hodgson, Carbo’s Chairman, said, “W H Ireland takes a close interest in listed companies based in the North West. This will be mutually beneficial as Carbo undertakes the final part of its refinancing programme. Since last October Carbo has converted a £3.185 million bond into equity and the Company’s financing company has provided debt of up to €14 million, in the form of working capital facilities and term loans secured on fixed assets. The final phase of the refinancing programme is an equity placing to raise cash which is under way. Together with the funds raised from the equity placing, the Company will be able to complete its phased restructuring plan and provide financial support for developing new markets as well as better management of its working capital.”

Carbo plc has subsidiaries across Europe in Germany, Belgium, Norway, Italy, Portugal and France. Manufacturing units are located in Germany, Italy and the UK. Carbo supplies high quality abrasive products throughout the world under various brand names including Carborundum, Carbo-Schroeder and BMA. They are used in a wide variety of industries including automotive, aerospace, metal work, furniture, cutlery, valves, power tools, hand tools and tobacco production. The Group also owns Anglo Abrasives Limited, one of the largest distributors of abrasive products in the UK, with branches located throughout the country.



For further information please contact:

Stuart Dootson, Finance Director, Carbo plc, tel [phone]

or

David Youngman, W H Ireland, tel [phone]

or

Ian Proud, Franklin Associates, tel [phone]



END

[esrimeur] 08/7/2004 08:59

At last - placing still on track. Do WHI have "fresh" punters lined up, I wonder, or will the same industry insiders be taking more? It will have to rise a little to accomodate 14p I think:-)

[datahead] 02/6/2004 22:26

Up 3 days in a row now - very little volume - so i think the mm's are trying to accumulate !!

bought some more last week - so i'm averaged down to about 16p !!

[philmiboots] 01/6/2004 12:45

All 4 ticked up now!
:o)

[philmiboots] 01/6/2004 12:44

Wassup - 3 mm's all ticked up at once.

[25october1969] 22/5/2004 14:51

yes -on a very large scale, watch out for the RNS

[kingcnut] 21/5/2004 22:45

so are you topping up then

[25october1969] 21/5/2004 15:41

Lol....They did not disclose any secrets, I was impressed by their enthusiasm and their financial support for the company. They have a vision and are determined to achieve it. The world wide abrasive industry is due for a period of restructuring and they are determined to come out on top and I believe they will

[colonel a] 21/5/2004 15:26

25October1969:
If the board told you something which you can't tell us they have done a bad thing.
If it's just a secret, you can tell us.
We're as trustworthy as govt. spokespersons.

[25october1969] 21/5/2004 11:36

Met some of the Board of the company this morning, very impressed, very impressed indeed with them and the future prospects for the company.

[25october1969] 13/5/2004 22:52

The FD came back quickly, am meeting with him a week on Friday and will pass on anything of interest that does not break any confidences

[colonel a] 13/5/2004 15:51

25October1969: Thanks.

[25october1969] 13/5/2004 12:39

From memory, huge item in Accounts is German pension provision which is self funded and matched by asset on other side of balance sheet.

I have found the FD, Stuart Dootson to be very helpful and he always answers the questions I ask him, in a friendly way.

I was told that decision on whether placing or rights issue would be made on 30 April and announced early May. As this has not happened I have written to Stuart today to find out what is happening.

I do not think they waited on price to fall, as this would mean they raise a lower amount of capital, initial intention, I understand was for placing at 14p with share price today at 13p to buy that would not work. Remember that a few months ago the Board bought in at 21p re the debt conversion, they are not going to want to give away shares on the cheap

[dusseldorf] 13/5/2004 12:24

Cannot place shares more than 30% below market price so they have purposefully waited for the price to fall. This was also seen in ILX. Given the ORD is 10p I would suggest that is the issue price, however with ILX they also reorganised so the ORD price went much lower, allowing them to issue below the ORD value...this could be as low as 5p for CAB though I suspect the institutions would be happy with 10p.

[archangel gabriel] 13/5/2004 09:27

Does this company have an FD? Think you could have got a monkey to sort out this placing quicker!

[colonel a] 10/5/2004 16:06

Does anybody know to what the huge items in the accounts

"Provisions for liabilities and charges"

represents ?

Did IC mentions it ?

[jeff_v] 22/4/2004 11:24

Well done 25/10/69!

[25october1969] 22/4/2004 11:05

In absence of response from Ian I spoke to the company

The Board will get together end of April to decide how much to raise and whether placing or rights, intend to complete process by middle May