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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cosalt | LSE:CSLT | London | Ordinary Share | GB0002265055 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.825 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 0.825 | GBX |
Cosalt (CSLT) Share Charts1 Year Cosalt Chart |
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1 Month Cosalt Chart |
Intraday Cosalt Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 07/9/2015 | 07:55 | Cosalt in 2010 : Recovery potential in oil and marine | 3,076 |
| 19/1/2013 | 17:26 | COSALT - any views ? | 290 |
| 20/3/2012 | 11:50 | test cslt | 33 |
| 25/2/2012 | 14:49 | Cosalt (the new revolution) | - |
| 28/12/2011 | 10:34 | Cosalt - recovery in 2009 ? | 468 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 05/7/2013 15:03 by ravenna23 An interesting viewpoint from the finance director Paul BelowThis 140 year old, premium listed, Group had sold its profitable operations to reduce debt, having suffered a significant alleged fraud. It was loss making, had high residual indebtedness, a substantial defined benefit pension scheme deficit and other significant legacy issues. The Company was reliant on its non-executive Chairman, who had acquired a majority shareholding and provided funding facilities which were fully utilised. In relation to the alleged fraud, the Group was both engaged in litigation and under attack. A proposal to take the company private had been voted down and the Company was subject to anonymous vitriol on a daily basis. The operating divisions comprised the leading provider of safety critical lifting equipment to almost all major operators in the North Sea and a leading supplier of protective clothing and other front line firefighting equipment. However, these divisions were unsaleable and/or of uncertain value. The CEO was the sole executive director and the Company Secretary the only other plc employee. I joined as interim CFO to assist the Company through this difficult period, initially for 6 months. Created and demonstrated value in operating divisions. Disposed of operating divisions (as share sales), preserving value for key stakeholders, employees, customers and suppliers. Maintained multiple stakeholder support in hostile litigation environment, through legal settlement and business disposals. Managed complex stakeholder and regulatory issues - including banks, other lenders, pension trustees, regulator and PPF, FSA and exemptions, Class transaction documents and RNS announcements. Presentations, forecasting and cash and working capital management. Pants on fire! |
Posted at 17/5/2013 08:45 by ravenna23 More from the eyeMORE on the collapse of Grimsby based oil services and industrial services supplier Cosalt plc, which went into a "prepack" administration earlier this year so that it could be swiftly bought up by it's chairman and big-time Tory donor David Ross at a knock-down price (see eye 1338). All had not been well at the company for some time and allegations of financial irregularities were circulating long before the company's eventual collapse in February. This made Cosalt's shareholders (apart from it's main one Ross) highly suspicious when the company failed to prepare annual accounts ahead of meetings, including the June 2012 AGM, at which Ross tried (unsuccessfully) to take the company private under his ownership. Complaints to Vince Cable's business department elicited the response from a government prosecution lawyer that "there is sufficient evidence for me to be satisfied that there is a realistic prospect of conviction" over what is a criminal offence. But since the courts generally only impose nominal penalties on companies in administration, said Cable's man, it would not be in the public interest to proceed. Not much deterrent there to high-profile company directors seeking to bury bad news for simply not accounting for their companies,then. This episode, and losing all their money in questionable circumstances that for some time included Ross's conflicting positions as company chairman and would-be-buyer, has left shareholders fuming and venting their frustrations on an internet bulletin board. But now one man who lost a packet has found that comments are being monitored by lawyers from defamation specialists Harbottle & Lewis. When he reported this fact on the site, along with his objections to it, questioning whether what little was left of his money should be spent on eavesdropping on disgruntled shareholders, he received the stiffest of letters from Harbottles which included the statement "we wish to make clear for the avoidance of doubt that we do not act for the company". That was on the 29 January. Seventeen days later, Cosalt administrator PricewaterhouseCoope Shareholders and pension scheme members, staring at a £50m shortfall in their fund and eventual losses in their retirement income, are still demanding to know why they were so badly fleeced and want answers to questions over financial irregularities, sales of assets at low valuations and failures to spot a looming £50m pension shortfall. But finding them will fall to the administrators PwC. Once again those on the wrong end of British corporate collapse should not get their hopes up. |
Posted at 19/2/2013 20:56 by isalolly In administration speak it's called a "hive down".Assets (in effect subsidiary Cosalt Offshore) transferred into a new company, then the share(s) in that company sold to the third party. Dunwilco (1793) Ltd is the new company set up by solicitors Dundas & Wilson (remember them from the case against Melville?) for that purpose. Then, we're led to believe, ATR will purchase the share(s) in that company, financed by NBGI Private Equity, whose parent group would you believe it are the National Bank of Greece. NBGI Private Equity will borrow the money from someone, when they bought ATR for £20M last year it was loaned by the Clydesdale Bank. Banks will lend to NBGIPE for ATR to manage Cosalt Offshore, they wouldn't lend to David Ross. Once bitten, twice shy. |
Posted at 02/2/2013 19:36 by isalolly Nat Rothschild, Co-founder of Bumi stepped up the bitter battle for control of the Indonesia-focused miner, attacking both the board for its inaction and CEO Nick von Schirnding for "embellishing his CV.""He is not at all qualified to be the CEO of a global mining company, not just because he tried to make himself more well-qualified by embellishing his CV last week. It's staggering that there are board members who for two years have been so vociferous in their objections to me, against me raising the subject of bad corporate governance at the company. This is the collective responsibility of the board and I seem to be the lone voice in trying to deal with the serious issues at hand," Rothschild told CNBC. Rebutting the accusations, Nick von Schirndling placed the blame for the company's woes firmly at Rothschild's door. He insisted he had plenty of experience in mining, adding he had "no idea" why Rothschild accused him of embellishing his CV. Von Schirndling told CNBC there was no personal acrimony between himself and Rothschild. "I've had 25 years of financial and operating experience. This company is in a total mess and that mess was created when Nat Rothschild bought the structure to the London market. He gave control of the Plc to the Bakries and that was a flaw. We are trying to sort this out and removing the Bakries," von Schirnding told CNBC. The split between the two shareholders, Nat Rothschild and the Bakrie family, have grown increasingly acrimonious after a series of high-profile disagreements at the London-listed miner since their union in 2010. Bumi's share price has suffered from the ensuing fallout, plunging 25 percent in 2012 on news that there were "financial irregularities" at PT Bumi Resources, in which Bumi owns a 29 percent stake. The company announced earlier this month that it lost $632 million in the nine-months to September 2012 on the back of substantial derivatives losses. Operating profit slumped 60 percent for the period to $312 million. Rothschild's latest plan to revive the company includes a revamp of the board of directors and the removal of 12 out of 14 directors. Rothschild also attacked the appointment of Eko Budianto as chief executive at Berau Coal, a company that is majority-owned by Bumi. Rothschild claimed Budianto was "unfit and had a chequered reputation" adding he "had no mining experience whatsoever." "You have to contrast Budianto with others...he has no operational mining experience whatsoever, he has worked with the Bakrie concert party for three years and his ties with the family go back ten years," Rothschild said. A "concert party" refers to a group of shareholders that buys shares with the aim of influencing or taking control of a company. Bumi said it will hold an extraordinary general meeting on February 21 to vote on Rothschild's proposals with the unanimous recommendation that all proposals are opposed. Bumi's London-listed shares traded down 3.3 percent on Tuesday morning. |
Posted at 14/1/2013 07:47 by srpactive Independent article todayNorth Sea set to create 50,000 new jobs as investment soars Tom Bawden Author Biography Monday 14 January 2013 inShare1 A A A Related articles £1bn North Sea oil fields project approved George Osborne unveils tax breaks for oil and gas industry UK oil output falls below 1m barrels Valiant for sale after lack of North Sea success David Prosser: North Sea investment? What about that tax hike? Suggested Topics 1960s TV Employment Bonanza Arctic Ocean Engineering North Sea Geology 1970s TV North Sea employment is set to boom this year. Up to 50,000 new jobs are expected in Britain's oil and gas industry, according to analysis by a leading industry headhunter. The jobs bonanza will span from drillers and engineers to geologists, parts-makers and support-services staff and will take the total number employed in the UK portion of the North Sea to nearly half a million. "There's been a lot of talk about the North Sea being in decline but employment is booming at the moment," said Kevin Forbes, chief executive of Oil and Gas People, the business behind the research. "Decommissioning projects are taking off as they come to the end of their life. At the same time, the consistently high oil price, tax changes and new technology have made it economically viable to extend the life of exiting projects and start new ones," he added. Further down the line, Britain's nascent shale-gas industry could potentially add a further 35,000 jobs in the next two to three years, Mr Forbes said, citing recent research from the Institute of Directors. The expansion has been spurred by record-breaking levels of investment, with about £40bn set to be ploughed into North Sea production in the next three years. Norway's Statoil will be the biggest creator of employment after agreeing last month the largest development in the North Sea for a decade a £4.3bn investment in the Mariner field, 93 miles east of the Shetland Isles, that will create more than 700 jobs and produce oil for 30 years. The surge in investment comes after the Government relaxed the tax regime around North Sea development, prompting a record-breaking licensing round when the Department of Energy and Climate Change awarded 167 new licences on 330 blocks last October. Although North Sea production will never return to the giddy heights of 1999 when daily output was 4.5m barrels, the expansion should help lift it from last year's level of around 2m barrels. On the downside, with massive investment elsewhere, the North Sea will have to compete for employees, pushing the average wage above its present £64,000, already more than twice the national average. |
Posted at 28/12/2012 07:44 by ravenna23 From rumours I hear the Melvilles will not reassign the lease of the Aberdeen property should the company be put into administration, this may well be bad blood due to the court case. That puts the kibosh on a pre pack. I am hoping the light settlement will not encourage another path. All shareholders have invested heavily in the development and upgrading of Aberdeen. If it is sold to GIS at a knockdown price that would be suspect. |
Posted at 24/12/2012 09:51 by silverscoop Has anybody had any word from LSE regarding the embargo of the CSLT board?I can't get a reply at all. |
Posted at 19/12/2012 07:55 by ravenna23 Oh dear that got a reaction from iii. SHUT DOWN(CSLT) Sorry but we are unable to find any details matching this code. Please make sure you have the correct one. |
Posted at 05/10/2012 13:06 by mr_chaps Am I being dim as to why this announcement doesn't flicker the share price, presumably there is some grey market or something?No news still on the accounts I guess? |
Posted at 17/1/2012 20:34 by srpactive RavennaI also noticed on the lse intraday chart after the close the cslt share price around 16.40 spiked to 1.25p before dropping near the closing price, take a look. dyor regards active |
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