Coretx Hldgs Share Discussion Threads

[aquarius] 09/3/2006 13:25

Conflicting news today

Why are the Market Makers dropping the price in the face of Merryl Lynch buying shares on behalf of HIT?
Trying to panic unknowing shareholders to sell in the absence of firm news?

I maybe wrong but I am holding.

[rebess] 09/3/2006 09:38

A further question on the unfolding buyout saga.

Is it legal for two parties with a vested interest to knowingly conspire in order to deny the best possible return for shareholders?

[sweenoid] 08/3/2006 11:54

I can't believe HIT will miss this fantastic opportunity to buy COR now - their organic growth is slow++++ and if management will pay 425p with little if no cost cutting I reckon HIT have a lot of leverage to cut expenses++++ and not a few salaries (lord waheed to be No1)

as always what will be will be - I would rather 460p+ but will be happy to settle for 425p

I had lost my patience with this lot anyway!!

Sweenoid

[el-tel] 08/3/2006 11:47

its corruption of the highest order, but he is a friend of the labour government and they have their snouts in a number of unsavoury troughs, as we have seen in the last few weeks

[rebess] 08/3/2006 10:53

Sweenoid - hope you're right.

What would be hard to understand is why the Agathie Christie family would want to accept at least 35p per share less. It does'nt make sense. If you're selling anyway it's natural to want the best price for your holdings. Is'nt it?

[sweenoid] 08/3/2006 10:20

i will hold till we get the bid from Hit or we don't - a calculated gamble I know I will get 435p OR the possibility of 460p or higher

this rns this morning is nothing more(IMHO) than a frightener from the board :-)

IF Hit bid 460 p the institutions will take the money and I believe the 3i/MBO team WILL counter-bid

HIT will IMHO sell off the Agatha Christie and other crime bands asap.

I am not intimidated by these 'bullyboy' tactics and I don't believe Merril Lynch and HIT will be either

holding until resolved and expecting a bid ahead of next tuesdays results

regards
Sweenoid

[spurrier] 08/3/2006 09:37

Looks like a nice little fix-up doesn't it? I sold out at 425p and then regretted it seeing the counter-bid coming in but now I'm not so sure. "Sources close to Chorion state..." Hmmmm...yes...am I cynical or what?

[rebess] 08/3/2006 09:25

If there is a poison pill arrangement between Lord Alli and the Agatha Christie heirs, then Lord Alli should pay more to take over Chorion. Otherwise, the shareholders are being deliberately short changed. IMHO.

[sweenoid] 07/3/2006 09:38

well its simple

holders will either get 425p as this is the offer from the MBO

OR

Hit or Classic Media have to bid at 460p or greater (some large institutions have pledged to accept offfer at 425p but have an exit clause at 460p)

so holders like me are taking a calculated risk here-I feel that HIT and perhaps even classic media WILL make a bid.

HIT really will struggle to grow organically from here on and The Childrens property's from COR are more than an ideal synergistic 'FIT' for them -if they do make a bid I suspect they would sell off the crime brands.

I would imagine cut off date is the date for egm for holders to accept the bid which is 24th March.Infact Fidelity have e-mailed my wife to say that the sale would be processed in her nominee acct that day.

Hit are doing the due dilligence and I believe will find COR irrestable for their proven 'BRAND' names.

COR management and 3i will pbviously be assesing plans IF Hit do bid-perhaps they will counter any bid-which is my big hope

eitherways I am sticking here and what will be will be.

:-)
Sweenoid

[maconscreen] 07/3/2006 08:48

seems to have stalled.anyone got any ideas
what happens from here.do hit have to show
their hand by a certain time?

[rogerl] 06/3/2006 10:41

sold in the market today, for better or worst

[sweenoid] 04/3/2006 13:55

blitzed ;-)

got a bit excited on finding the certs but felt my post was written in haste so removed
;-)

roll on those bids-would guess for a nice leak in the sunday times tomorrow we shall see

[torquay turk2] 04/3/2006 07:54

How's the head Sweenoid?

[diogenesj] 03/3/2006 11:34

Ignore the stuff from the company. There is no hurry at all. Wait and see if there is a counterbid. If you bought a long time ago at a much higher price, you won't see your money back. However, we now have a floor price of 425p, and a good chance of an offer at 460p or above. Independence is no longer an option.

[sweenoid] 03/3/2006 10:55

AGREED

AND I HAVE SHARES IN A NOMINEE ACCOUNT FOR MYSELF AND WIFE SO GOT 2 WHOLE WADS OF STUFF!!!!!!!!!!!!!!

[sweetiepye] 03/3/2006 10:55

hi y'all

back a bit i had 7500 chorion at a cost of about £1500 (yup those days)- i was downsized to 250 - so the bid is worth just over £1000 to me - doesn't say much does it ?

we are being asked to respond immediately but we only have the accounts to june 05 - the december 05 accounts are promised for mid-March so what is the tearing hurry to get us to act - remember we are holders in a company which generates two thirds of its business in 2H - a company which stated at the time of the interim "Never been busier" and for 2h "we approach the second half of the year with good visibility of earnings"

has anyone seen a RNS saying anything to amend this view ?

the real issue which we are not being told about is the development of the mr men rights - let me recap - in 2004 the board bought the rights for about £30 million (noting that in the nine months to acquisition the TURNOVER of the titles was £2 million and profit after tax of £ 0.4 mill) - sure, this is a long term investment but if the directors paid cash i think we would all have expected the deal to cover the funding cost (ok - ignore funding amortisation for now) - that would look for pretax earnings of at least £1.5 million on that deal alone

given that this is a long term investment i would guess that 2005 is more likely to see development cost rather than profit - but until we see the results for 2005 we are in a dark place (good for mushrooms but not much else)

so what is the attraction of the deal we are being offered (apart from the obvious mr men tomorrow benefit) ? - chorion will benefit from a pile of cheap funds securitised on the increasing stream of revenue from is portfolio of rights

but it could do all that without this buyout - perhaps the board should tell us if GE FINANCE were prepared to offer the company an asset funding on similar lines -

what is obvious is that the prospective investors want the management team - what else is in play here ? oh, i nearly forgot - the management team have 3.3% of chorion but will end up with more of the new business plus their contracts, etc

i think a bit of quality information is sadly missing here - and, for the directors, we shareholders have experienced real pain over the past four years and, i suspect and hope, are not in the mood to jump ship just because it suits the board

let's get it together, folks

ps - read the bit starting "IT IS IMPORTANT..... at the top of page 15 of the offer document - it cuts both ways

bi bi

[slaterlp] 03/3/2006 10:24

Well so much for the documents i recieved from Chorion. What a waste of money producing htat lot and then mailing it out. They should be shot.

[sweenoid] 03/3/2006 08:23

I have retrieved that bloomberg banner from THIS margin

that suggests that HIT have offered $80.6 million dollars

that is 460P or near enough

cant find any other conformation and Bloomberg states The Times as a source

NOW LOOKING VERY GOOD FOR 460P MINIMUM

Sweenoid-HOLDIMG!!!!! ;-)

[sweenoid] 03/3/2006 08:11

and from K1164

over at iii

The Times today reports that Classic Media has approached advisers for Chorion over the feasibility of a potential bid.
Interesting times ahead...


i really must go and get this am's times!!!

the plot thickens - a three way battle splendid

ticked up 4p

Sweenoid

[sweenoid] 03/3/2006 07:27

according toBloomberg the Times HIT have made an offer for COR ;-)

has anyone got the link -the figure quoted on the banner is in $

exciting innit !!!!!!

now if they have will 3i and the manangemnet put the gloves on for a fight

Sweenoid

[rogerl] 01/3/2006 11:07

It seems clear to me that COR is being bought out to be sold on within the next couple of years. If that is the case it must be also clear to potential purchasers that the time to buy is now and not in the future. Apax will also want to sell on but put together with HIT the combined whole will be worth more than the parts. It follows that a competitve bid will be made within the next couple of weeks. The market seems to agree with me.

[phillis] 28/2/2006 17:04

I'm afraid your understanding is wrong. Those institutions who have given irrevocables are allowed to withdraw them in favour of an offer above 460p(446p for UBS)

[el-tel] 28/2/2006 16:33

if some one comes in with an offer over £4.60 then the current offer is invalid, that is my understanding

[diogenesj] 28/2/2006 13:39

They are entitled to put in their bid, S. We may hope that someone else will elbow them aside with a higher one. It's a market: complete waste of time writing rude letters about it.