Clyde Process Solutions Share Discussion Threads

[davahunter] 01/8/2006 16:20

Hi Dod5

You can email me at [e-mail] What's your experience? Have you ever made a profit?

Would you believe I had Square Mile on the phone today wanting me to buy other stocks. Told him to sling his hook. Before I did though he said they had high hopes for PRH leading up to and after its next set of results...yaaaawn...we'll see

[dod5] 01/8/2006 14:10

hello DAVAHUNTER please get in touch with me i have 126000 at 3.5 and an other 3ml in other 16 holdings i will get back to this site at 8 pm tonight thank you

[davahunter] 31/7/2006 15:40

Thanks JakNife - appreciated!

[davahunter] 31/7/2006 14:02

Hi, can anyone suggest a way I can get in contact with people who have lost money buying stock like PRH, INB CVN PSH etc through Halewood International?

I'm writing to the FSA to complain about them. I'm also interested in getting a legal opinion as to whether Halewood failed to disclose 'material facts' at the outset of these deals which in law breaches 'good faith' which in turn can invalidate a contract.

I'd like to know the avenues other people have tried so I'm not wasting my time. Any suggestions would be greatly appreciated.

[tiredoldbroker] 29/7/2006 16:08

A few observations about CPSP, or PRH as it was known.

Far from being out of the Stephen Dean orbit, CPSP's registered address is still Hilden Park House, 79 Tonbridge Road, Hildenborough, which is the address of a host of Dean businesses. Though Dean and Nicholls are leaving the Board, the new "independent" non-executive director is Bill Thomson who is (oh gosh) Chairman of Interbulk Investments plc, where he sat on the Board with Dean and Nicholls, the company having been floated by Dean's Griffin operation. Investors have seen the Interbulk share price down more than 60% since Nov 05.

Why would some of the UK's less "client protection orientated" brokers be pushing this stock to you at 2.75p ? I'm sure it has nothing to do with them having taken stock in the recent placing of 100 million shares at 2p (or the 9 million shares allotted in lieu of fees), because that would mean they were taking a 37.5% mark up.

The method of acquiring CMH and the valuation attached to it both seem a little strange. The first 3.9% (approx) was bought by PRH for £750,000 cash on 28/6/05; except that when PRH announced its figures on 30/11/05, the cost had risen to £826,848, because they ran up £76,848 expenses on the deal - and I'd suggest most of that went to Dean/Griffin for "helping". Anyway, the price ex-costs valued CMH at £19.23m.

Then on 27/6/06 PRH announced it was buying the rest of CMH. The acquisition of 91.9% of CMH cost £6.5m down, with a possible further £9.5m in earn-out if it met certain targets. The £16m maximum only valued 100% of CMH at £17.41m (and maybe as little as £7.07m), in any case less than it was valued at a year earlier. But PRH also bought the remaining 4.2% of CMH, owned by a private company called Dane Holdings.

Interestingly, PRH had made a loan of £800,000 to Dane Holdings prior to all of this (shown under Debtors in the PRH accounts to 28/2/06); yet interest receivable during that period was only £5,677 - on £800K of cash, from a flotation 11 months earlier ?

Now, it may be that the original flotation document for PRH made clear who owned Dane and on what terms money was loaned to it, and I'm sure I'm overly suspicious in noting that Dane is an anagram of Dean. I'm sure they couldn't have floated an investment company, then loaned its cash on favourable terms to a private business owned by the promoter, which then bought shares in PRH's acquisition target on terms favourable to that private company. They couldn't have.

Except that the acquisition of CMH involved buying 4.2% of CMH from Dean - oops, sorry, Dane, for £850,000, valuing CMH at £20.24m – not only a higher valuation that PRH had paid a year before, but a higher price than PRH paid to the other shareholders in CMH. Yet it seems possible that Dane may have bought its CMH shares with money loaned by PRH on terms which don't appear to have been quite clearly commercial. And Dane got its entire sale price up front, with no earn-out related to future profitability. Better terms (again) than the other CMH shareholders.

Once again, the RNS regarding the purchase by PRH of the outstanding shares in CMH failed to make clear who owned Dane or who might benefit from it selling its shares in CMH or from having borrowed money from PRH.

I certainly wouldn't want to impugn the commercial management which came in with CMH, I just think there are a number of quite fundamental questions about the history of PRH (CPSP as it is now), how it has been managed in the past and for whose benefit, the loan to Dane and the interest received, the ownership of Dane, the costs involved in buying CMH (as no figures have been announced about the recent deals) and the independence of its non-executive directors. And you know, the CMH people must have been aware of, or friendly with, Dean and Nicholls for at least a year (during which the PRH/CMH deals were done), and at the end of the day, you will be judged, in part at least, by the company you keep.

[gerry2] 28/7/2006 21:01

JakNife

Dont tell me YOU have been Mugged by this Dog ?

[andy] 28/7/2006 19:25

SVS are pushing this to their clients.

I wonder what happens when they are clear?

[jayas] 28/7/2006 14:47

More sell and the price up 8%. Hope you break even soon.

[dananria] 28/7/2006 14:42

up 8% today so now your buy price jayas equals the bid, not bad position to be in after buying in 3 days ago. hopefully will hit that myself soon!!!!!!!

[jayas] 27/7/2006 20:48

Jak/Dan
They advised me on Tuesday and the offer was 3p but offered to their clients at 2.75p. I had good and bad advice in the past and overall I am in the front. I still hold GGG up 150%. Hope this will take off.

[dananria] 27/7/2006 17:04

done well to get the price you did jayas. sells are 2.75p for 100k shares today.
did they advise you to buy these and you picked them up principal or did you instruct them (execution only)????

[jayas] 27/7/2006 15:19

Hoodless Brennan

[andy] 27/7/2006 14:44

jayas,

May I ask which broker please?

[jayas] 27/7/2006 13:17

I bought 100000 at 2.75p and my broker is bullish about this stock. I am advised to wait till the results due in October 06. Fingers crossed.

[dananria] 27/7/2006 10:02

jayas that is my thinking and have posted that before. have decided to put money where mouth is and picked up a small amount yesterday. I do agree with you jaknife about s/d and he may have profited out of the prh scenario but i do believe when he is gone that there is a solid business model behind cpsp. got in at just over 3p so lets see how we get on!!!

[jayas] 27/7/2006 09:22

Understand that Steven Dean is retiring soon after the AIM listing of CPSP. That might give some confidence in the company with him out of the way.

[watch the clock] 26/7/2006 19:23

just had a broker on trying to sell me big numbers by morning i dont think i will be taking up the offer for some reason after your post jaknife thank you.

[dananria] 26/7/2006 09:26

up nearly 10% today so far, once the market maker overhang is gone and stock held privately reckon this could still be a mover jaknife!!!! as I mentioned b4 look at the enlarged mkt cap to what PRH was, just need to get rid of the overhang. Are you still of the same view???

[wendeli25] 20/7/2006 17:42

Superb!

Excellent advice from these guys.