Coro Energy Share Discussion Threads

[steve_wilson] 15/7/2010 20:34

I think one could say that Mark Robertson had his opportunities to make a success. Even with a 10% holding he failed. From what I hear he constantly needed his hand held and eggs shells had to be trod on. Not a recipe for a productive business. I think Rivington may rue the association.

Moving forward Corero seem in much better shape. Their future is in their hands.

SLW

[cascade sofa] 15/7/2010 19:58

tax losses?
cheap way of listing?
a new venture for his female alter ego, Hannah?

[palm top] 15/7/2010 14:34

Hooray got rid of Robertson - At last! That dept is a bloXXX waste of space and has cost everyone dear! Finally we can concentrate on making some money rather than have it tapped of the top all the time to keep overpaid directors happy.

[romeo] 15/7/2010 11:41

I have now reviewed the results in detail and am feeling a bit more positive. The new management team had better bloody perform, that's all I can say. If they are able to match their past successes, then CORO holders will be well-rewarded.

Share dilution still really bothers me, but the company is now debt-free.

Color me cautiously optimistic.

Best Regards to All,

Romeo

[cascade sofa] 14/7/2010 22:30

Delisting doesnt seem logical given that they have gone to the trouble of finding a listed vehicle to carry out their rollup plan. Datatec has increased from a low of about 72p in 2009 to about 285p and carries a market cap of >£500m so this must give some confidence in new management

[rambutan2] 14/7/2010 22:11

why would they want to delist? they need the mkt if their growth model is to work.

[magpie99] 14/7/2010 20:04

Other comment from the iii board

'no doubt that todays announcement is the precursor to delisting Corero via MBO with Jens as the lead party expect any other minority shareholders to be absolutely and totally shafted.company and its brokers have refused to rule out the above'

'This has been a total dog of a share. I don't know what criminals run it as the little investor has been totally shafted by the directors'

[magpie99] 14/7/2010 19:59

And if you invested in this company - You certainly do have a little of something!

[rambutan2] 14/7/2010 14:54

Hmm. Well, all in all, i think i'd rather end up with a little of something than a lot of nothing. And it appears that the new guys are going to have plenty of skin in the game, which is always a good thing. Any further judgements I will reserve until the meeting.

[orange1] 14/7/2010 13:49

If anybody is considering an alternative investment, the following announcement caught my eye this morning. This business really seems to be going places. We are talking here about a "highly successful and profitable business which is growing rapidly", "strong recurring revenue base and growing international
appeal" and a CEO under whose management the business "has increased profit year-on-year" (recession or no recession). Any takers?

Here's the announcement in full:

RIVINGTON STREET HOLDINGS PLC


The Board of RSH, the PLUS quoted media, market research and financial services
group, is pleased to announce that its Isle of Man based subsidiary Rivington
Street Ventures ("RSV") is acquiring the assets, staff and contracts of the,
profitable and rapidly growing, Financial Markets division - which incorporates
Blue Curve and Radica CAPS - of AIM quoted Corero Plc ("Corero").

RSV has agreed to pay GBP 1 for the Financial Markets division and will take on
GBP 2.12m, of debt. GBP 2 million of this debt has been taken on with a fixed
rate of 8% repayable in 2015. The remaining GBP 127,781 is repayable in 2013.

It will roll the acquired assets into a newly formed UK company, which will be
called Blue Curve Ltd. The acquisition, which is expected to be completed by 02
August 2010, is subject to the approval of Corero shareholders.

HIGHLIGHTS

* Acquisition of Blue Curve, the leading software suite for financial
research - used by more than 2,500 financial analysts worldwide;

* Blue Curve is a highly successful and profitable business which is growing
rapidly at an operational level, having already won five new contracts this
calendar year.

* Acquisition of Radica CAPS, the leading corporate actions processing
software used by a number of large investment firms;

* As a result of the strong recurring revenue base and growing international
appeal this deal is expected to materially increase shareholder value; and

* Blue Curve Ltd's CEO will be original founder Mark Robertson, who will join
the RSV management team and will be instrumental in developing RSV's
acquisition plans.

Blue Curve is used in both buy-side and sell-side finance firms to automate a
wide variety of complex financial content production processes. Common
applications include financial research, fund marketing, fund reporting,
corporate broking and corporate finance. Radica CAPS manages the entire process
of corporate actions processing including data management, entitlements,
elections and accounting adjustments.

Last year the Financial Markets division improved both its revenue and trading
profit over 2008, with the second half being particularly strong. Revenue
increased by 8.9 per cent, while trading profit increased to GBP 350,000 (2008:
GBP 10,000). This represents a significant turnaround in profitability since
the reported trading loss of GBP 468,000 in 2007 following the restructuring of
the business to merge the Blue Curve and Radica CAPS offerings.

Further improvements are expected as Blue Curve builds on lasts year's
performance. It has already won five new contracts this calendar year -
including an agreement with Standard Bank Group. Additional growth is expected
as it seeks to sign multi-year agreements with the majority of revenues coming
from recurring licence, support and hosting contracts. Given the potential for
further growth and the fixed rate of repayable interest, this deal is expected
to materially increase shareholder value.

Blue Curve Plc's CEO will be Mark Robertson who was Managing Director of the
Financial Markets division at Corero. Under his management this operation has
increased profit year-on-year and moved to a recurring licence business model
using SaaS principles. Mark will be integral in furthering Blue Curve's growth
as well as helping drive RSV's acquisition programme.

[romeo] 14/7/2010 09:19

How confident can we be in the new management team to successfully execute the strategy? For our sake they had better be capable!

Here's an article on Jens Montanana, who is now in charge of Corero:

[gac141] 14/7/2010 08:01

The Placing done at 25p this is why we have dropped. I guess it is down to what they do with the money they now have.

[cocker] 14/7/2010 07:51

Marked down 20% pre-open!

[cocker] 14/7/2010 07:29

Should have disposed of financial side years ago!.

[magpie99] 01/6/2010 19:54

Spot on Rambutan2.

As you all know, My advice to anyone would be to pass a very very critical eye over announcements to do with this company.

Why not invest in a bargain BLUE CHIP and get something for your money such as a 7% yield?

Good luck to all with this share.

[rambutan2] 01/6/2010 14:52

one question is does Business Systems have the resources, both financial and human, to be in a position to take advantage of greater opps which may emerge under the new govt. Last year the division struggled to cope with implementing a larger than usual number of projects (see pg4 of annual report). Growth tends to need capital, and CORO is capital constrained. imho

[cascade sofa] 01/6/2010 12:02

Does the change of government mean that existing suppliers to the sector such as Serco, Capita, EDS could fall out of favour with Dave and Nick? If so this is the opportunity for niche suppliers, uncontaminated with NuLab legacy projects to capitalise on the sector?

[spurious] 26/5/2010 15:04

Think this is a huge opportunity for Bernard and one that must be grabbed early.Companies will be formed or amalgamated to target groups offering full set up to systems packages for academy market.Already there are companies actively seeking collaboration/partners and I would like to think we are proactive in seeking a leading role as befits someone with a 30% market share.
Regards to all
SP

[cascade sofa] 26/5/2010 11:55

Mr Snowe's quota could just get even bigger.....

From today's Times

"Michael Gove, who has written to all 20,000 state head teachers today offering them the chance to break free from local authority control, said creating more academies would improve standards, cut bureaucracy and raise aspirations"

[gac141] 20/5/2010 13:57

Would have been nice to get the info on the AGM together with my ability to vote. Received nothing. Shambles.

[damanko] 13/5/2010 10:54

PT, the only reason behind my comment is the history of serial disappointments that this company has provided over the years. I would very much like to think that a corner of some sort has been turned. A positive one. We'll see.

I'm neither short nor long, a VCT I invested in 10 years ago has put £1,903,116 into Corero, which is currently valued in the region of £619,310.

Which equates to 14% of the equity/voting rights in Corero. The first investment was in October 2000, so as you'll agree, not the very best of returns.......