|Corvus Capital Inc
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
Real-Time news about Corvus Cap (London Stock Exchange): 0 recent articles
|water30: I hold CVS shares. My average is just under 2p. After the record date I am assuming that the shares will fall by the special dividend amount of 2p - Is this correct?
Therefore, is it worth selling now or waiting until the record date to see what value is left in the share price?
Would be very grateful for any opinions on this?|
|the drewster: They have cash from the CMM sale of 2.4p per CVS share. They also have a few quid to come if CMM recovers any of its former glory.
Sirius now valued at more than twice the CVS entry price.
A few other minor distractions (holdings of negligible value today), but a nice situation to be in, buying a cash asset at less than face value and having other potential multi-baggers in for free.|
|the drewster: More like, but I don't even get it to that much.
Anyhow, I m happy there is, even with todays drop in CMM, over 4.5p value per CVS share without anything crazy happening at Canisp or GGT.|
The value of GGT in the last accounts last Sept was £132000 on a share price of .03 of a penny. The valuation now on 2.1p is over £10M. Take in CMM and DTEC and this is well under asset value at the moment.
|waldof: Bubface: I hear you loud and clear and can see your reasoning perfectly well, but markets and market players are full of surprises.
Just suppose that over the last few months number of savvy funds/instis/investors have been acquiring large chunks of CVS (but under 3% mind). On the cheap understand. Folks with a close understanding of what AR is looking to do.And let us not forget that for all the chat ARis a very wealthy individual. AR owns 30% of CVS and the other savvy funds/hedgies/insti's own maybe another 15 -20%. They identify the right target: one that AR has always said is undervalued/badly run/value not reflected in share price etc etc ( a bit like Royal and Sun or EMI ).They can offer new shares in CVS at 25 or 30p...FULLY UNDERWRITTEN by them to raise whatever and then finance the rest of the purchase on target's cash flow etc and other obvuious means.Of couse their own stake would be diluted BUT look at the price they paid for their initial stake of 2.9% in CVS..PEANUTS.
Now i am not abanker but i have had this explained to me even if i am not explaining it to you very well.
Either way i am a huge buyer and holder of CVS...and at this pricei am more than happy to add, and will. I believe my day will come and when it does i think i will be a very happy chap.
But i can understand your sceptisism.|
|humbugg: the only worry is that "the acquired" normally gets the share price premium.|
|the drewster: Still at a discount to the assets I think we know about, plus any inherent value in any unlisted companies.
DTEC website still lists CVS holding 17% (though from much higher levels), CMM we know they have 60m, 1.5p divi as of tomorrow plus CMM value at 12p/share. Current assets at year end of 4.2m with less than 1m current liabilities also helps paint a rosier picture than the share price performance might indicate.
Agree though, something is stirring.|
|the drewster: 60m x 1.5p dividends is nice I guess. c.300m CVS shares, so worth a significant percentage of the current company! Still can't shake the idea of CVS buying CMM out of my head, which probably means it isn't even on the radar! Would be interesting though, not sure which insti's they would need to support them to get the deal through, and Mr R is probably overdrawn in his goodwill account with some city heavyweights given CMM and CVS share price performance.|
|whiterussians: CMM has collapsed since the year end - share price wise and CVS own 22% of it, so that would be several MILLION off the asset values being reported
Also noted CMM buying back shares - most bought on enforced sale from man financial - it would be good to know who the underlying seller was...slippery...|
|waldof: But of course 'zobins' the powers that be at CVS would not want a low CVS share price.
I think it's all beginning to fall into place.|
Corvus Capital share price data is direct from the London Stock Exchange