||EPS - Basic
||Market Cap (m)
Real-Time news about Fibregen (London Stock Exchange): 0 recent articles
|abadan2: Wonderful news on FBG's sister company, Evergreen Securities! This company took over some of the noncore investments from FBG, brought in some other "green" assets and raised money at 105p about 16 months ago. Share price now is 2p and it is delisting from AIM. Another Greensmigh success.|
|the shuffle man: I am still confident we will get something back.
The canadian operations are profitable and allegedly trading at 1x ebitda based on current share price.
Someone will take these private and on the cheap IMO.|
|the shuffle man: The shares in CLN went as well:
Evergreen will acquire securities in Prometheus, Coal International and HaloSource (mentioned above),owned by LNR for an aggregate purchase price of: (a) £2,684,286, to be satisfied on completion by the issue of 2,556,462 Consideration Shares at the price of £1.05 per New Ordinary Share; and (b) if thesecurities being acquired pursuant to the Libra Acquisition are sold for cash by Evergreen prior to 3 October 2008 at a premium to the value that they are acquired, further deferred consideration equivalent to 50 per cent. of such premium will be payable to LNR. This deferred consideration will be satisfied by the 17 issue of New Ordinary Shares at the Relevant Share Price or, at the election of Evergreen, in cash. Further details of the Libra Acquisition can be found at paragraph 12 of Part III of this document.
We have now got back Halo and Waipuna and still have 2,556,462 shares in evergreen worth £894,000.
Seems like a poor deal|
|bubface: Libra Acquisition
Evergreen will acquire securities in Prometheus, Coal International and HaloSource (mentioned above),
owned by LNR for an aggregate purchase price of: (a) £2,684,286, to be satisfied on completion by the
issue of 2,556,462 Consideration Shares at the price of £1.05 per New Ordinary Share; and (b) if the
securities being acquired pursuant to the Libra Acquisition are sold for cash by Evergreen prior to 3
October 2008 at a premium to the value that they are acquired, further deferred consideration equivalent
to 50 per cent. of such premium will be payable to LNR. This deferred consideration will be satisfied by the
issue of New Ordinary Shares at the Relevant Share Price or, at the election of Evergreen, in cash. Further
details of the Libra Acquisition can be found at paragraph 12 of Part III of this document.
The Group proposes to acquire 1,087,590 ordinary shares in Coal International representing approximately
1.16 per cent. of the issued share capital of Coal International, for a consideration of £331,715. The
acquisition is considered short-term and opportunistic in nature, based on the fundamentals of the target.
so it would appear fbg would be entitled to 50% of any premium over the effective acquisition price of around 30.5p if the holding were sold by evergreen prior to 3 october.currently 62p.
looks like evergreen sold a chunk on 3 june at 58.4p.|
|the shuffle man: If the company was broke they would have to suspend the shares now.
Although no one believes in the directors there must be a chance they can sort these two problems out and that the current share price will look to cheap.
Im not selling, the current share price is like option money, lost so much might as well hold on. Havent got much to lose now :-(|
|nigelsom: What an incredible sequence of events over the last few weeks. I'm utterly appalled. The very idea of taking over a company and then discovering you hadn't got the collateral to back up the borrowing....what ever happened to due dilligence? Surely they would have talked to the lender in question (there has been a credit crunch ongoing..hadn't they noticed?). Who the hell acted as advisor? And we also find that they sold a put option so that they now owe £4m. The company is now capitalised at just £2.6m. What cloud-cuckoo Mickey Mouse la-la land does this management inhabit?
Well I've got an idea. Management should change their pay arrangement, and get their salary in shares (issued at market price). At least that way if they preside over a share price collapse they'll lose out like the rest of us. Of course, that all depends on the company still being around....
The incompetence reminds me of the transformation brought upon GEC by shiny new management who managed to destroy a perfectly good, profitable and stable company. Different scale here, but just as devastating.|
|bygadsir: The only solution is yet another share consolidation.
If the share price tonight is 30 - a 1 for 15 would give
a respectable share price of £4.50.
You can do anything with numbers !!
|bubface: must say this does not show the new brokers liberum in a good light.buy note when the share price was about 6p... but they can't raise money higher than 2p...nice work hope you got some chunky fees for destroying shareholder value.
funny thing is that the company raises £1.6m and the overall market cap will end up being the same post the issue.
will certainly not be buying any more until the management comes up with a revised strategy which hopefully will be to put the whole thing up for sale once everyone has a chance of seeing the wood for the trees.boom boom.
not amused really.|
|the shuffle man: at least they have been able to raise the money in the current environment and the funding worries which i beleive have been keeping the price low are now resolved.
if they can now run the business profiably and expand at a reasonable pace the share price will recover|
|the shuffle man: I reckon we could easily see 90p which is equivalent to 6p which is where we were when they announced the share consolidation and change of name, along with the divestments and new strategy etc etc which i thought was a major positive and not the negative implied by the fall in the share price.|
Fibregen share price data is direct from the London Stock Exchange