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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cookson Grp. | CKSN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 645.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 645.00 | 645.00 |
| Top Posts |
|---|
Posted at 20/11/2012 07:13 by upsondowns Dear Colleagues,On 1st November, Cookson Group announced that it is to proceed with a demerger into two separate entities, to be called Vesuvius plc and Alent plc. Despite the difficult economic environment we have to deal with at the present time, the Board has considered it was in the best interest of the group, its individual businesses and its shareholders to give the two companies separate futures where they will develop their own strategies. As a result, and subject to shareholders and Court approval, the newly created Vesuvius plc will be listed on the London Stock Exchange (LSE) with effect from 19th December 2012. Vesuvius plc will comprise the Engineered Ceramics division (Flow Control, Advanced Refractories, and Foundry Technologies which now incorporates Fused Silica) and the Precious Metals Processing division of Cookson. It is expected that our size will make us a member of the FTSE250 index meaning that we will be among the largest 350 companies on the LSE. This is an extremely significant and positive development for us all, allowing us for the first time to define and pursue our strategic objectives independently. This is indeed a matter of pride and satisfaction for all our employees as it means Vesuvius is an attractive company that the investors wish to be separately listed on the Stock Exchange. It is a recognition of the performance we have delivered over the years to build a world leader in metal flow engineering. It also brings with it significant responsibility, as we will be under even greater external scrutiny than before from investors, analysts and the media. With increased visibility of our actions and performance, we will be valued entirely according to the decisions we make and the results we deliver. A new board of directors has been created for Vesuvius plc under the chairmanship of John McDonough. John was formerly CEO of Carillion plc, a substantial international support services group listed on the LSE. The management team has been adapted to cope with the new tasks to be performed as a publicly listed company. Chris O'Shea has joined as Group Finance Director in charge of Finance, Tax, Treasury and IT as well as Legal Affairs. Chris will be an Executive Director on the Vesuvius plc Board. Chris graduated from the University of Glasgow and the Fuqua School of Business, Duke University ,USA; he was formerly Finance Director of Shell Oil Company in Nigeria and CFO Africa, Middle East and Asia for BG Group plc. As a consequence Yves Nokerman will now report to Chris. Bart Massant will be Vice President Human Resource for the entire Vesuvius Group. Claude Dumazeau is Vice President R&D Patrick Bikard is Vice President Manufacturing, Engineering, QHSE and Purchasing. Chris Abbott is Business President Steel Flow Control David Hughes is Business President Foundry Technologies Glenn Cowie is Business President Advanced Refractories Roel van der Sluis is President North Asia Refractories Stella Layton is Business President Precious Metals Processing Rachel Fell will be our Company Secretary This team will now work hard to manage the challenges presented by the creation of the new Vesuvius plc and to ensure this new era for Vesuvius is a highly successful one. Vesuvius is a great company. Financially strong, with a unique technology portfolio, an unrivalled presence across the world and leading market shares in most of our business segments. This leadership position has been hard won over the years and reflects the trust that our customers place in our people and our products and services. The result has been that we have succeeded in growing our sales and profits over and above the organic growth of the market we serve. I am convinced we have the knowledge and the skills within our employees to capture more successes. Francois Wanecq Chief Executive |
Posted at 01/11/2012 18:29 by upsondowns I would guess that one of the two separate companies might become a takeover target now as it would be cheaper. perhaps those who had recently taken a large stake in cookson, might already have their eye on one. Would it make sense that a lot of investors who now have shares in two companies might pick one of them to invest fully. In this case one would go down the other up. Just a guess on what might happen. Interesting times ahead that's for sure. |
Posted at 08/10/2012 08:10 by bobsidian Major warning. The share price of CKSN was looking artificially elevated for some time. Given how much historically the share price of CKSN had been moving in lockstep with the mining sector, it would not be surprising to see the share price now playing catch up with the lesser mining constituents with high exposure to China. Prior to this announcement a P/e ratio of around 12 was looking a bit rich on negligible growth in year-on-year earnings and is now looking even richer on a potentially significant decline in EPS. However, the stockmarket does favour certain shares and the share price is hesitating on a 61.8% retracement of the entire move up from October 2011 to April 2012. Will be interesting to see the near term outcome of technicals over fundamentals. Perhaps of even more over-riding concern is the elevated state of the FTSE250 and its potential for a significant retracement. It is not impossible for the FTSE250 to break out into new all time highs but I do have doubts. The more forthcoming of fund managers are reporting net selling as investors scale back their exposure to equities, whilst the less forthcoming and perhaps less scrupulous are encouraging investors to go overweight equities as an asset class. |
Posted at 27/7/2012 06:24 by upsondowns Copied from iii board.........Solar industry decline drags down Cookson By Rose Jacobs Shares in Cookson, the industrial materials manufacturer, fell more than 8 per cent after the group said its division serving the solar power industry had dragged back revenues and profits. First-half sales at Cookson, which supplies materials for everything from Apple's iPhone to steel processing plants, fell 8 per cent to £1.3bn while pre-tax profits declined by a fifth, to £93.5m, including the impact of disposals and currency fluctuations. The company blamed a halving of revenues at its fused silica business, which makes materials for solar cells and speciality glass products. "The marked downturn in the global solar industry which started in mid-2011 ... has proved deeper and more extended than previously anticipated," it said in its interim results statement on Wednesday. The solar energy sector is suffering from reduced state subsidies and overcapacity. But Nick Salmon, chief executive, said Cookson remained committed to providing materials for the industry, which he believes has good medium-term growth prospects. "We might just have to tread water for a year or two," he said, and pointed out that the company is mitigating the impact by cutting costs, including closing a plant in the Czech Republic. Interim dividend rose 3 per cent to 7.5p, paid out of earnings per share of 23p (31.6p). Cookson is in the midst of a strategic review that could result in it demerging the ceramics division, which houses the struggling fused silica business and which delivered nearly 70 per cent of revenues last year, and the division that supplies circuit-board manufacturers. "The two businesses have no operational overlap, and there's a feeling that if you have one business to focus on, you will do better over time," said Mr Salmon, who said he would step aside if the company were broken up. A decision is expected by the end of the year. Several analysts reduced their full-year earnings forecasts on Wednesday on the back of a cautious outlook from the group. ● FT Comment Cookson's shares come cheap at the moment. The company commands a 60 per cent share of some of its markets such as equipment for plants making steel rolls and boasts Apple as a customer of its electronics division. But its debt and equity trade at just over five times 2013 ebitda, a significant discount to both the industrial and electronics sector averages. The thinking goes that a demerger would focus both managers' and investors' minds. Indeed, British manufacturers tend to perform better as small specialists just witness the break-up of ICI. Peel Hunt analysts recently forecast both parts of the business would re-rate upward following a split, with the ceramics division's enterprise value rising to seven times 2013 ebitda and the electronics unit's to 7.4 times. That equates to a combined share price of 945p a tempting premium on Wednesday's close of 550p. |
Posted at 02/7/2012 21:38 by peter27 This is a standard requirement of the listing authority and periodically made by all companies and from the ordinary investors point of view it is meaningless. |
Posted at 26/6/2012 20:14 by robertfaulkner Huntie, things were going nicely, an investment company called Cevian had bought a biggish stake in Cookson and are know as long term investors who try to find ways of increasing the Shareholder value. To the point where their representative was appointed to the board of Cookson and the board agreed to look at splitting the company up.The last couple of months it's all gone quiet. Today they issued 2.1 million new shares for the executive share scheme, I don't know if this dilution of the Cook shares is why the drop today? See below RNS Number : 1979G Cookson Group PLC 26 June 2012 26 June 2012 Cookson Group plc - Additional Listing Application has been made to The UK Listing Authority and the London Stock Exchange for block listings totalling 2,100,000 Ordinary Shares of GBP1 each under the Cookson Group Executive Share Option Schemes and Long-Term Incentive Plan, to trade on the London Stock Exchange and to be admitted to the Official List upon issuance. The shares shall rank pari passu with the existing issued shares of the Company. Cookson Group plc 165 Fleet Street London EC4A 2AE |
Posted at 06/5/2012 19:51 by wooster4 I wouldn't worry about the pic report. They carry very little weight when it comes to advising inst investors how to vote. Investors pay far more attention to abi and napf, who are not calling for the board to go. |
Posted at 06/5/2012 18:45 by robertfaulkner Thanks BobP, it's strange we don't get a message from Selftrade asking us if we want to attend AGMs a while before they are due. You would think the companies concerned would want more participation.Are most private investors in these internet companies now(Selftrade, III, ect, ect)? I expect you are old enough, like me, to remember going into your bank and asking them to buy shares and the reverse when you wanted to sell, both times you only had a rough idea of the price before dealing. In some ways it too easy now, it doesn't seem like we are spending real money when we buy at best or even worse at limit(and have forgotten you have the limit open when it strikes) Nice on this board that you don't have to argue with all the load mouth as in the Barc thread. I enjoy your cut and thrust there and I'm sure you do too. |
Posted at 05/5/2012 15:26 by robertfaulkner Well spotted Gargoyle, I wish I'd read it before the market had opened on Friday.Ho Hum, the only saving grace was I was going to raise my limit buy price on Fri, before the market opened, as I had watched Cook's share price bob up and down over the last few days and I thought Cevian might buy some more shares and push the price up. Why do you think Cevian is not mentioned a big Cook investor, is it because it may not be on the share register yet? |
Posted at 05/5/2012 10:13 by gargoyle2 Pensions & Investment Research Consultants (Pirc) has told clients that the industrial ceramics group had been an "unmitigated disaster for shareholders" and they should oppose the re-election of its management at the annual meeting.In a blistering report distributed to clients on Friday, and seen by the Telegraph, Pirc told investors to vote down chairman Jeff Harris, the long-standing chief executive Nick Salmon and finance director Mike Butterworth. "Over 10 years Cookson has been an unmitigated disaster for its shareholders," the report said. "In 2000 it was a FTSE 100 company, and then made poorly judged acquisitions at the top of the market and required a rescue rights issue." Pirc says the directors have presided over "amongst the worst examples of poor stewardship of shareholder funds in recent history", particularly the chairman, who has failed to exercise his power to "challenge the executives". Pirc said it was "alarmed" by large pay awards and the poor performance of Cookson, which has lost 86pc of its value over five years. In particular, Pirc criticised the acquisition of rival company Foseco, which, the report claims, was "made at the top of the market, and then required a [second] rescue rights issue of £240m, deeply discounted". The report continued: "Dividends paid have been almost irrelevant in this company, as amounts paid out to shareholders have been followed by very large cash calls from shareholders. Due to the large numbers of new shares issued and the very poor performance the company had had to consolidate shares twice." Pirc believed the remuneration committee had "used its discretion" to tweak policies so they were less impacted by poor performance. "Awards for which the performance period ended in the year include matching shares given to directors at the time of the deeply discounted rights issue in early 2009," Pirc claimed. Cookson said: "The company disputes much of the analysis contained within the Pirc report, and their overall conclusions simply don't reflect the reality of what the current management team has achieved, or the value created during their tenure. The LTIP scheme was approved by over 90pc of shareholders in February 2009." The company's biggest investors include BlackRock, Standard Life, Axa and Fidelity. |
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