Ennstone Share Discussion Threads

[miss bossy boots] 20/10/2008 21:10

Similar to checking out the facilities in restaurants, I think a website says a lot about a company. The page for 'Major shareholders' was last updated 18 July 2006. The website is out of date.

Lets hope no news is good news for now and that plenty of positive work is being actioned and the company updated.

This company could benefit from the Governments decision to bring forward building projects, as it supplies building products.

[roadwalker] 20/10/2008 19:00

I believe we find ourselves in a serious situation witnessing the share price dropping further again today. I emailed the Company last week asking them as to whether their Webpage regarding the overall manpower level quoted was correct, they have to date failed to reply.

Of course I personally understand the situation with the worldwide financial problems that we are enduring but I still think that a statement from the Company regarding their position should be made knowing that reports have been made that the possibility of a buy out has lapsed or have they?

[shawzie] 20/10/2008 09:40

nico9 - have been cold called several times recently. I think that someone has got hold of an old list of shareholders (probably holding or held as share certificates at the time)and is trying to work a scam.

[roadwalker] 17/10/2008 16:11

nico9 - I wouldn't imagine anyone phoning me up about a possible interest from another quarter and surely that is not the way business is done as far as Shareholders are concerned.

[nico9] 17/10/2008 13:23

anyone else had a phone call about a possible bid next week?

[roadwalker] 15/10/2008 17:05

Miss Bossy Boots - it seems you made the correct call regarding Guinness Peat Group after their purchase today @ 6.5p, I await further developements with interest.

[miss bossy boots] 14/10/2008 14:32

From Ennstone website:


"Following the prolonged deterioration in the US market and recent sharp downturn in the Company's core UK market, the Company acknowledges that it needs to restructure its balance sheet in response to these challenging trading conditions. As such, the Board is actively pursuing its strategy of asset disposals alongside an equity fundraising in order to meet its current financing requirements."

"The Board intends to commence a process to appoint a suitable full time independent non-executive Chairman as soon as possible and to further strengthen the Board."

Raising funds on one hand and spending it on yet another Board Member until Mcleod retires in 2009.

Lets hope the new Board Member is worth it!

[abadan2] 14/10/2008 13:25

Roadwalker, this is hardly a great company. It must be hard to find another company where the share price has never once got back to the level of 12 years earlier, which happens to be when Mr McLeod took control, and where institutions have convened an EGM to remove some of the Board directors, notably the CEO. At least he is now being forced to go having consistently destroyed shareholder value.

[roadwalker] 13/10/2008 17:29

Miss Bossy Boots - Appreciate your input and I truly believe ENN have the the right concept but unfortunately are caught up with the present financial uncertainties and trust we are not witnessing the demise of a great Company.

[miss bossy boots] 13/10/2008 17:14

Take a look at Guinness Peat Group plc's website, maybe they have something to offer Ennstone behind the scenes and they will survive and prosper.


This is part of their INVESTMENT PHILOSOPHY
GPG makes selective investments, predominantly in public companies, for the purpose of enhancing and realising value by means of appropriate levels of shareholder influence and control. This could involve the restructuring of the financing or management of the companies in which GPG invests. GPG's role may also encompass initiating and facilitating mergers within the relevant industry to achieve constructive rationalisation. In general, this active involvement is outside the scope of most institutional investors.

No equity investment is made without exhaustive research and unless it is possible to form a robust view of a stock's medium-term prospects. GPG refrains from investing in businesses which it does not understand or those it regards as speculative. This has led it to invest almost exclusively in established companies with a long track record.

The Group can be affected by market price movements on its equity investments. Since it generally invests for the medium or long term, the Board does not believe it is economic or necessary to hedge market price risk, which in any event it considers to be a relatively short-term factor. No significant equity investment is made unless a margin of safety has been identified. Exposure to market price movements is further mitigated through holding a spread of investments, diversified across a range of sectors and.....

[bodgit] 10/10/2008 23:39

roadwalker, I am now 80%+ underwater with this one. If the potential bidder walks and no one else takes their place then I guess all bets are off. Still, Ennstone themselves could pull a rabbit out of the hat and survive to prosper in the long term. Lets hope so because any takeover now will likely be for petty cash amounts. Good luck all.

[roadwalker] 10/10/2008 17:09

Bodgit - thanks for that and no doubt if that is the case ENN will I assume send a brief out to that account as they did when the interest was there some four weeks ago; will keep yoou up to date.

Would be interested to hear whether they can ride the storm, I still believe they have a future with their concept.

[bodgit] 10/10/2008 08:44

F.T. today. p40

"Ennstone, the aggregates group, lost 15.3 per cent to 8.05 amid growing doubts about whether cash shell Marwyn Materials will formalise its bid"

[roadwalker] 07/10/2008 07:55

I see Peter Tom is not mentioned, but thank you to both shawzie and huttonr for the lists.

[shawzie] 06/10/2008 10:54

From Annual Reports 2007, major shareholders ;

Beneficial holder---------------------------- Number ---- %

Natixis Asset Management--------------------- 40,177,364 8.29%
Legal & General Investment Management Limited 34,495,851 7.12%
Richelieu Finance ----------------------------17,425,000 3.60%
Standard Life Investment Management---------- 15,146,418 3.10%

[roadwalker] 05/10/2008 20:54

Interesting article in the Times - Business supplement back page; worth a read although its not telling us anything new except that Peter Tom from the vehicle Marwyn Materials who are supposidly in the earlier stages of a posible takeover of ENN was involved in a battle for the Bruntcliffe quarries with Vaughan, which the later won of course and the birth of ENN followed. As the loser he bought a 12% share in ENN does he still have it I ask?

[roadwalker] 25/9/2008 21:34

elmfield - difficult to understand what is going on, regarding your statement I cannot past judgement. It seems to me that the share price is being kept at this level for some unknown reason and I leave you to draw your own conclusions to that, yes I have my own too.

At the end of the day I sincerely hope they show compassion to the shareholders but its a cruel old world out there you know.

[elmfield] 24/9/2008 15:38

looks like we are well screwed,

[scrapman] 24/9/2008 15:35

would it be fair to say after the recent drop, someone knows something about the to talks , or am I being cynical?

[maccack] 23/9/2008 16:43

way things are looking lucky if we get 20p. Trouble is VMcL has a large holding so won't want to sell up at a loss unless he has loads of 1p options to compensate. With current climate the banks will be forcing the issue so he may not have a choice which leaves PI's shafted with a low take it or leave it offer. If offer does materialises, and it is rejected the banks could take control and sell for whatever will cover the debt.
It won't have been the first time thats happened to an AIM stock I've owned (Torex). That was sold on by banks, PI's got nil, and torex continued to make profit for its new owners.
So do I take what I can at current share price or leave and hope for a higher offer if one does materialise.

One thing for sure ENN will be the last AIM I'll ever be involved in.

kicking myself cos ENN at 52p at the height of the hanson takeover, can only be dreamt about now.

[abadan2] 23/9/2008 14:55

I have always said that Vaughan McLeod was viewed as overpaying for everything he bought and that it would be hard to find an greater example of how to destroy value. When he bought control 10 years or more ago, he said it was a 3 year play to sell out at 270p! When the sector was much stronger, he would have sold out at 40p, and today 20p would be a result.

[maccack] 23/9/2008 13:40

worth a read...

[gco1133a] 22/9/2008 19:35

Be realistic. If a company announces it is in take-over talks the share price won't trade at half the expected take-out price. I would have thought 20p absolute tops and probably less would be the price.

[roadwalker] 22/9/2008 19:14

VATTETON - I think you are about right, my estimete would be 29-30p which is a fair return under the present circumstances. Their assets are huge but it is the climate we are experiencing and I sincerely hope their negotiations are going well for themselves and shareholders alike.