Cosalt Share Discussion Threads

[madd1] 09/6/2012 14:49

www.savecosalt.com updated with what all shareholders need to do to protect their investment.

[madd1] 08/6/2012 19:34

AGM announced for the 28th June, we all need to vote against these proposals at the AGM. contact your broker and make sure your account has voting rights so you can vote. each broker is different, i advise phoning them and telling them an AGM has been announced and you wish to vote at it and they will guide you from there.

[nicd] 01/6/2012 07:13

EXTENSION OF SHORT TERM CREDIT FACILITY

Further to the announcement on 1 May 2012, the Board of Cosalt has agreed with Oval (a company wholly owned by David Ross) an extension of a further one month, to 30 June 2012, for repayment of the short term GBP1million credit facility provided by Oval.

As announced on 16 May 2012 in its interim management statement, the Company is continuing discussions with David Ross, and with the Group's pension trustees and its banks to secure a longer term financing solution. Pending a successful conclusion of these discussions, the Group is not yet in a position to publish its Report and Accounts for the 12 months ended 31 December 2011.

[srpactive] 26/5/2012 11:59

Kentz based on the IC have £143m in cash
and are looking for earnings enhancing
acquisitions, I bet they are keeping
an eye on cosalt. 10p a share is only £40m.

dyor

regards

active

[srpactive] 17/5/2012 09:04

Nice figures announced on time from talk talk,
another enormous financial increase there.
The real growth area over the past ten yrs has
been mobile phones and phones etc in general,
especially as we now have young children wanting
their own. But the next enormous growth area in
the UK is the generation of electricity from green
sources. If only Mr Ross would just be happy
with holding 56% and fund to profit as he stated
he would have funded cosalt to profit if he owned
100%. The work wear division based on past statements
it broke even by April 2012, the oil and gas division
has record order books and the future is off shore wind,
come on Mr Ross play a straight bat.

regards

active

[nicd] 16/5/2012 07:16

sad RNS out:

Although Group sales were in line with the Board's budget, during the period there has been pressure on margin and cashflow. In addition, the Group's costbase and level of indebtedness continue to significantly constrain the business and are not sustainable over the longer term, in the absence of a new financing solution.

[srpactive] 15/5/2012 11:24

Talk Talk another of Mr Ross's companies is announcing
on Thursday, maybe we will get some news to coincide
with this day also.

dyor

regards

active

[ravenna23] 08/5/2012 23:12

New FCO Paul Below

Well they kept that quiet.

Paul has operated as a Board level career interim for 14 years, providing hands on support to a range of public, private and venture capital backed businesses in around 50 assignments. Business engagements typically have had up to £100m turnover and have included a number of international groups. Situations have been usually fast moving, requiring swift appraisal and an ability to connect in order to make a rapid positive impact and real change. Roles include CEO, CFO (in 10 cases), NXD, Commercial Director, turnaround and corporate finance support. Experience includes transaction support for acquisition, disposal, finance raising, business planning, cash and working capital management, commercial negotiation, stakeholder issues, debt restructuring, covenants

www.belowandbelow.co.uk

[nicd] 08/5/2012 09:22

he is doing it as well for self interest.
Is he a Cosalt holder?

[madd1] 07/5/2012 21:43

whats the link?

[ravenna23] 03/5/2012 10:48

The Ukla is the regulatory branch of the FSA responsible for listing rules and corporate governance. This covers publication of results and appointment of Non exec Directors. May I suggest everyone emails [e-mail] and expresses their opinion on these Cosalt matters. You will probably get a standard 'confidentiality' reply but at least they will be aware of the number of people concerned about the injustice of the situation.

[ravenna23] 02/5/2012 12:59

Active
Given the limited amount that can be raised under AGM permissions, and the minimum issue par price of 1p I think it likely that an EGM will be called for shareholders to approve a meaningful fundraising. We will then see if it is equitable, i.e a rights issue, or intended to disadvantage and dilute PIs, i.e. open offer and placing. I am not sure if oval can participate as they are not allowed to buy shares for a year. We will have to wait and see.

[srpactive] 02/5/2012 12:20

Ravenna23
What do you think is going to happen? Could we see
150m shares sold to the existing shareholders for
0.66p to raise the £1m, the sale underwritten by oval.
Then any shares not bought by PI's would be bought
by Oval, and Mr Ross would then increase his holding
slightly by %. This obviously after he has subscribed for his
56% worth. In addition extend the £5m for six
months as you have stated, and continue to source funding
and release the results.

regards
active

[jeffian] 01/5/2012 10:33

"jeffian 8 Feb'12 - 23:18 - 2592 of 2757 edit

If it comes to stalemate, why wouldn't he just withdraw his support, call in the Receivers and do a pre-pack to buy it out of administration?

jeffian 8 Feb'12 - 23:50 - 2593 of 2757 edit

Or convert his debt to equity and dilute the minority out of sight?"




It looks like Plan B, then!

[the bounty hunter] 01/5/2012 09:43

Hope you guys managed to get your skin out of this one

[holts] 01/5/2012 07:39

and inevitably we are going to dilute you all substantially , do you fancy coughing up ?