Coro Energy Share Discussion Threads

[magpie99] 19/2/2010 09:31

Theyve got to get orders, and I havent seen any of these around that I would call an order for four years. The bright side of the business- Schools - could come under pressure as a result of the huge govt overspend and debt built up.

At this point in time the culs share conversion price seem pie in the sky to me, this is a management I would not bet on. Molly knows a thing or two and the last he heard was that Blue Curve were loosing customers according to a post I read. Lets see firm orders before a hint of praise for this company.

Who knows they may have a stack of them just waiting to be signed?

[romeo] 19/2/2010 06:54

I do think that is an option. Obviously the company will have to balance its need for cash in the short-term vs. potential share dilution in the long-term. Some CULS holders would be happy to have cash now I am sure, but others may wish to hold for a potentially larger payoff in terms of share price appreciation after conversion.

[cascade sofa] 19/2/2010 06:49

Romeo from your review of the CULS does the company have the ability to pay them down early, ie uses its cash to prevent some conversion?

[romeo] 18/2/2010 23:43

"...who I hope will loose every penny of their money."

YOU'RE A CLASS ACT, MAGPIE!!!

[magpie99] 18/2/2010 14:25

The joy that I can freely express my opinion, it has proved correct year after year, it is a counter balance to the massive over ramping by incredibly arrogant pompous people, who I hope will loose every penny of their money.

You have also been expressing your opinion – you are welcome to continue – good luck with your opinion. It sounds that you are unhappy that you have been wrong.

I still retain some of my shares

[romeo] 18/2/2010 13:12

Magpie, why do you frequent this thread at all? You've sold your shares, why not move on? You have made your feelings known repeatedly, so what's the point anymore?

[magpie99] 18/2/2010 11:27

Once the world leader- now no longer the leader even in Britain!!

[magpie99] 18/2/2010 11:25

Judged on past management performance those sort of prices look to be a dream to me.
It seems to me CAPS as owned and managed by Corero no longer has the accolade of most number of users in Europe. It once had the most numbers installed in the world for CA systems. Downhill all the way. No sales in 3-4 years. A huge disappointment.

[romeo] 18/2/2010 03:29

Did some more research in the archives. It looks like there were approximately 3 million CULS issued prior to the share consolidation. The terms were modified a few years ago to 4 regular shares for each CULS.

If you take the 1 for 30 reverse split into consideration, that calculates to 100,000 CULS shares in current terms.

Maximum dilution would thus be 400,000 shares, or roughly 27%.

Obviously, if the share price is farther north of 240p, the dilution would be lessened accordingly. I am assuming 480p would calculate to 200,000 shares (13.5% dilution), etc.

The company can force CULS conversion at 960p, according to my research.

Someone please correct me if I am wrong, but these are the numbers that I came up with.

[magpie99] 17/2/2010 12:13

Why not phone up Corero investor relations and see if they know how much dilution they are creating?

[romeo] 16/2/2010 23:34

Here's some info from the archives:
-------------------------------------------------------

The Capital Reorganisation includes the enhancement of the CULS conversion rights from four Existing Ordinary Shares for every GBP1 nominal of CULS to 12.5 Existing Ordinary Shares for every GBP1 nominal of CULS, which equates to a conversion price, prior to the Capital Reorganisation, of 8p. Following the Capital Reorganisation, the enhanced conversion rights will be adjusted to 0.4167 New Ordinary Shares for every GBP1 nominal of CULS, resulting in an effective conversion price of 240p per New Ordinary Share. As the CULS Resolution is subject to and conditional upon approval of the EGM Resolutions, the proposed amendments to the CULS, as set out in the notice of the CULS Meeting, reflect the enhanced conversion rights as adjusted by the Capital Reorganisation.

Any fractions arising from the conversion of the CULS will be aggregated and
allotted to a trustee who will sell the shares for the benefit of the relevant
CULS holder. However, if the net proceeds of such sale amount to less than GBP2
in respect of any one holding, the net proceeds will be retained by the
Company.
---------------------------------------------
So the strike price is 240 pence, but how much potential dilution? I will spend some more time in the archives!

[romeo] 15/2/2010 13:36

I know what it was before, just haven't taken the time to recalculate it after the share consolidation. Can anybody help?

[magpie99] 14/2/2010 17:49

That is the sort of question you need to ask yourelf and answer before you buy the shares. Good Luck Romeo!

I have no doubt Spurious is looking to top up!

[romeo] 12/2/2010 14:09

Taking the recent share consolidation into account, what is the strike price and potential share dilution if and when the CULS are converted?

[marlin5] 10/2/2010 09:47

xlairways
No mention in hoodless buy recommendation of the £4,000,000 of debt?

[xlairways] 09/2/2010 21:19

Been looking at them for a few weeks now, have bought a few to stick away.

[cocker] 09/2/2010 07:45

Airways. Go on & buy some then, I dare you.

[xlairways] 08/2/2010 20:20

From hoodless:
Corero (CORO, 32.5p, £0.49m), the provider of software solutions to the banking and securities and education markets, reports trading for the year ended 31 December, is in line with market expectations of PBT of £0.1m and EPS of 4.74p. Operating profit is expected to be in excess of £0.3m. The Business Systems division has maintained its market position by winning contracts with 25 City Academies. The Financial Markets division generated substantial revenues from the existing Blue Curve and Radica CAPS clients. Net cash stood at £0.685m exceeding the current market capitalisation. The market forecasts 2010 EPS of 14.22p, which puts it on 2.3x. The low rating combined with the net cash position exceeding current market capitalisation encourages us to reiterate our BUY recommendation.

[gentlyduzit] 06/2/2010 21:26

I see the Trick Cyclist has been on Twitter again.

or maybe it's me.



6.30pm from mobile Twitter.
---------------------------

What a day I have had! Coming home from another gruelling day at Starbucks I was attacked by a flock of 99 Magpies. I think they were after my shiny silver, but I have sold all that. Stupid flocking Magpies!

Stopped halfway home to have my Orange but found that it to be very thick skinned and very bitter. Must be because I have been taking the pith for the past 3 years!

7.00pm from mobile Twitter.
--------------------------

Was looking forward to curling up on my Sofa with a nice Curry Pata and having a bit of Molly Molly with the missus but that's all spoilt as I stepped on some Gac on the way into the house. Will take me ages to get that off my shoe now.

[magpie99] 06/2/2010 00:46

I am sure you will make some money out of them good luck with your purchase Romeo.

I do not want to be associated with paying the wages of people who never deliver year after year - daylight robbery.

[romeo] 06/2/2010 00:00

Magpie, I have purchased the shares you sold.

[magpie99] 05/2/2010 18:27

Sold off a chunk more today.
Why invest in a company that never delivers?

There is a huge opportunity cost taken on by investing in this company for long term shareholders, and no dividend year after year, not forgetting the most important thing of all: your health.

YOURE FIRED!

[magpie99] 04/2/2010 12:30

I have just managed to sell 500 shares.

After the trade I noticed the quantity of shares to trade is just 1 share or around 40p.

[orange1] 03/2/2010 15:18

Mark Robertson reckons that if one reads his inane twitter posts one is prying into his private life:

"Good to see BB posters are interested in my private life, shame they can't pick up the phone and reveal themselves"

Message to Lycra Boy: if you don't want anybody to know about your private life, don't broadcast details of it to the world via Twitter. And do tell, why would your life be enriched if we revealed ourselves to you?

I can tell you that our lives would be enriched if you would......

Five pints to the person who can come up with the best answer.

[magpie99] 03/2/2010 15:02

No buyers out there, I tried to sell off the same tranche today - no luck

No one trusts this company, after years of underperformance.

My advice would be to steer well clear of any business servicing stockbrokers.