Ennstone Share Discussion Threads

[phbatbjco] 12/1/2009 09:18

PS the shares I added were in addition to the ones I bought at 35p!!!!!!!!!!!!! Been in and out of Enn over the years. They have some good tangible assets. Bizarrly I have today just received a dividend on my original holding equating to a yield of some 50%!!!

[palwing] 12/1/2009 09:16

Huge spread now 3p-2p-3p..someone is stopping the trading. Fun over for today?

Watch out for the killer RNS.."The company notes the recent share price rise but knows of no reason for it"

Lets hope not huh?

[palwing] 12/1/2009 09:00

In at 0.8p last week...added more at 2p this morning. Average 1.4p.

As previously said...without news, this could reverse just as easily. However, the opposite is equally as true.

Good luck all...looks like we are in for a bit of a ride!

Watch out for the profit takers too. Aquick a rise can be just as bad. Need some stability at this price..and some news?

RW?

[phbatbjco] 12/1/2009 08:53

well i missed the boat at .57p and got in last week at .79p but i never expected this one to move so much so quickly - it obviously appeared on peoples radar over the w/e - anyone see any press comment or what? Beware however any fall could be just as severe

[bodgit] 12/1/2009 08:48

Looking a bit frothy now. Hmmmm. Good luck all.

[palwing] 12/1/2009 08:18

AU at 08.15..another tick up I reckon.

2p on the cards today?

[brumont] 10/1/2009 15:44

Nod,
sorry I havent responded earlier but was travelling and not watching the market yesterday.
Clearly we must be very pleased with performance but I am in no rush to take profit. I saw it as a gamble and invested only a small punt.
If asked to guess, I think that it will continue to rise. I cant see a downside at this level unless it goes belly up if the facilities are not renewed.
If it gets to 5p, I will reconsider and may reduce my holding.
Best

[palwing] 10/1/2009 09:11

nod...agreed.

Very Interesting chart, thanks. Lets hope things are starting to look up at last.

[nod] 10/1/2009 09:06

palwing - there's a definite risk that shorters will pounce on the first negative day in the market.

However, an announcement of new banking facilities would send ENN even higher and that news could come any day. The market cap is only 7 million today.

Barclays are probably more likely to extend facilities this month than last:

* ENN sold assets and paid some of its debt
* The credit crunch has eased in recent weeks and may ease further
* Barclays may feel more confident with Julian Cooper at the helm

I notice the similarities between ENN and UNIQ price rises - both needed to get new banking facilities in place. UNIQ announced new facility on Friday.

[palwing] 10/1/2009 08:33

Ennstone Friday Close 1.48p Volume 5,885,901

Friday change +85.00%

1 day change +127.69%

7 day change +335.29%

14 day change +270.00%

30 day change +97.33%

Be careful out there, it's STILL a minefield! ENN is a risky bet and their success is very dependent on management/restructuring of their considerable debt (£200m). However, something is pushing the share price and volume has been good recently, but rarely do you get a free lunch.

Oversold? Julian Cooper effect? MM's suckering in punters? Bottom feeders? Holders averaging down? Genuine chance of recovery? Who knows? I certainly don't.

Whatever the reason, being one of the top 3 All Share risers on Friday will ensure ENN pops up on a few radars this weekend.

Monday could be interesting. Good luck all.

O/T

RW..I see Swaffham Woolies is going to become Iceland.

[palwing] 10/1/2009 08:23

Tuesday 6th Jan

Shares in Ennstone rose by more than 17 per cent after the troubled quarries group appointed a restructuring expert as its new executive chairman.

The concrete supplier was one of the main casualties of 2008, hit by higher input costs and lower demand, and has to do a deal of some sort in the coming months to secure its future. Its appointment of Julian Cooper, at present managing partner in MPC Partners, the corporate restructuring practice, is seen as a step in the right direction. The company, up 0.06p at 0.4p, which recently sold its precast concrete products businesses to buy itself more time as it struggles under £200 million of debt, is considering options under which it could sell its business in either Britain, the United States or Poland.

[nod] 09/1/2009 21:52

Isn't Julian Cooper wonderful :)

[roadwalker] 09/1/2009 18:44

monkeywench - back in again Monday? I will probably have a wee punt!!!!!!!!!!!!!!

[monkeywrench] 09/1/2009 16:28

Bought and sold again. Never been a 'day trader' before.
Bloody good isn't it, when it works out right!

[monkeywrench] 09/1/2009 15:31

and to you mate.

[palwing] 09/1/2009 15:25

LOL Monkey..join the club! Good luck.

[palwing] 09/1/2009 15:07

Monkeywrench....Congrats on your profit.

Do you think that's the end of this run then?

Another auction too!

[monkeywrench] 09/1/2009 14:58

Brumont, again well done.
I got in after you and have just got out for a 243% profit.
If you're still in you must be loaded.

[palwing] 09/1/2009 14:56

Just got home...cough, cough.... I was saying!

Good luck all...

[phbatbjco] 09/1/2009 11:29

I have no doubt the new CEO was put in by BARC or at least they would have given it their blessing otherwise what would have been the point? I hardly think that he's only going to be there for a month if the deadline has been extended to end Jan, so possibly new facilities are conditional upon his continuing to be involved.

I'm of the same opinion as nod (re being asset rich) but dont put your shirt on it and at the end of the day it must be a high risk punt. Hate to say it but it's your decision not mine, Bull!!

[bull_mega] 09/1/2009 11:13

Phbatbjco what's the bottom line of your research ??? Now its good time for investment or not??? I believe restructuring may happened on shares and as you say 4x1 and reduce number of shares and make it more solid than more liquid stock, mean while price of share price will going up and up till its gives comfort level to lenders and past investors.

[nod] 09/1/2009 11:00

the US business was heavily loss making and needed £11m (from memory)

the sale of assets deferred the bank deadline to end January (again, from my memory)

as the credit crunch eases, I figured asset rich companies like Ennstone would find bank facilities

[phbatbjco] 09/1/2009 10:30

A look at the 31/12/07 accounts shows the following (bearing in mind that the current total market valuation is only £5.8m)

Balance Sheet

Total Gross non current assets – Tangible £267m
Intangible £96m
Total £363m




Net Assets total £192m



Borrowings – Current £17m
Non Current £147m

Profit and Loss account

This shows a tax charge but its mostly deferred tax therefore prob not repayable. However it may be possible, as a result of the pre budget report, I believe, to send back losses 3 years in respect of 31/12/08 year ends now so there could be a large tax repayment available if the year just ended is as bad as it is supposed to have been and large taxable losses have been made.

If one writes off the intangibles, bears in mind that tangibles are valued at cost not taking into account the future value of the minerals, then I think it makes interesting reading or is it just a no brainer (or is this the same thinking as Barc and the new CEO!!).

The date for renewing the loans has passed I believe and according to the Annual Report Barclays borrowings are secured against all the mineral assets so they should be more than covered, and we haven't even valued any of the stocks and debtors!

What will probably happen though is that the shares will be restructured so that instead of holding say 100000 shares at 1p you will hold 1000 shares at £1.00 and some opportunist will come in buy them out for a song to take the profits in the future. There is no doubt they do hold some decent tangible assets (quarries etc) which must, long term be worth a bob or two and I would say that the company has been savagely oversold because of the level of borrowings.

Am I missing something though? Perhaps the tangible overseas assets are liabilities now?????

Do your own research though!

[palwing] 09/1/2009 09:25

Nod. Agreed - Good post.

I see there are a few AU through the trading day too. All shows a renewed interest?

I sense a change in sentiment.

Thanks and good luck.