||EPS - Basic
||Market Cap (m)
|jacks13: 'As part of the proposed plan to address the deficit, it is intended that the Pension Trustees will also invest £30m in the property business to enable the release of the latent undeveloped value in the property portfolio. In exchange, the Pension Trustees will receive a direct stake of 75.1% in that business, with existing shareholders being entitled to the benefit of the remaining 24.9%. This stake would be held through a new holding company which would not guarantee the pension liability. In return for the stake, the first £5m of shareholders' dividend income would be paid to the Pension Funds. The terms of the proposed restructuring could mean that shareholders' principal continuing economic interest in the Group will be a minority stake in the long term development potential of its property assets. The Company made strenuous attempts to secure an option for shareholders to subscribe part of the new equity, but the primary condition of the Pension Funds was to have a controlling shareholding in a separated property business.'
The deal has yet to be agreed. If it is then the company continues for the time being, maybe even thrives, but what share price equates to a 24.9% stake in the property business? The majority owners (the Pension Funds) are unlikely to pay a dividend to the minority holders so what are the prospects for a decent capital gain? Might the majority holders create fresh equity when the property portfolio improves, in exchange for fresh funds, further diluting the minority holders?
jackthecat - I've no quibble with Jonson Cox or the present Board, the fault lies with the previous regime. Cox is doing the best he can in the circumstances.|
|jackthecat: amazing how there is no statement from this co re the horrible share price drop.
i dont hold and glad i dont with this awful mgt.
|crosswire: Share price forecast
The one analyst offering a 12 month price target expects UK COAL PLC share price to rise to 61.00 in the next year from the last price of 20.00.
isable and tax free!|
|jeffian: It's only just over a year since Jonson Cox was brought in as Executive Chairman with specific reference to his background as a 'turnaround expert'.
("The Board of UK COAL announces that Jonson Cox has been appointed Executive Chairman of the Group with effect from 15 November 2010. Accordingly, David Jones and Jon Lloyd will step down on that date from the Board and their current positions as Chairman and Chief Executive respectively of UK COAL. Jon Lloyd will stay with the Group until the end of November this year to facilitate the handover process.
Jonson Cox (54) was Group Chief Executive of Anglian Water Group ('AWG') from January 2004 until 31 March 2010, the time at which the Company entered a new regulatory cycle. He led the substantial recovery of AWG, including its subsidiaries Anglian Water, Morrison plc and AWG Property Ltd, both as a public company and after its change of ownership in December 2006. Under his leadership, AWG became highly regarded, as reflected in a three-fold increase in share price while a listed company from 2004 to 2006, Anglian Water ranking as one of the top two performing companies in Ofwat's performance assessments for each of the last three years and a successful turn-around of the Morrison businesses.")
Since then many Directors and senior managers associated with the old regime have been cleared out. I'm sure there are some residual problems but this is the man to fix them.|
|apdi71: Oxygen has an atomic mass of approximately 16, carbon of approximately 14, so take one carbon and add two oxygens and you have three grammes of CO2 going up the chimney for every gram of coal burned.... of course coal is not pure carbon, so this is a handwaving approximation. Also released from coal combustion is a far more potent infra red absorbing gas, the polar molecule oxygen dihydride.
From memory, the UK produced a vastly greater tonnage of CO2 a century ago (roughly a gigaton annually, compared to 600 or so million) than today, the CO2 output per person has plunged.
Is it time to invest in British coal?. Does the performance of companies such as crystalvox, torotrak and (to a lesser extent) pure wafer mean that the investing community thinks the gig is up for eco-tech companies?. The house builders share price falls preceded the housing market collapse, could smart investors be signaling that the state will ease up on its anti coal stance, its production and use for power?.
I've been out of UKC since they stopped paying the divi. Thinking out loud.. With so much apparently about to go wrong everywhere - banking and state insolvencies - where is one to invest one's limited savings/capital with the hope enabling someone to produce something useful profitably - and at a profit that is not dependent on the whims of politicians?.
Here is a US projection of generation costs- note that shale gas has crashed the price of gas in the US.
Europe (and the UK) also have big shale gas potential :
A critique of the PTB sponsored hatchet job on UK shale gas here:
|warbaby43: Disappointing to note that notwithstanding a surge in both gas and coal prices, the UKC share price has gone backwards.
The strength of the hardening of coal prices can be seen in the Q3 2011 Rotterdam futures price which stood at $122.70 last Friday and $130.95 tonight.
The apparent reluctance to attribute any benefit to UKC from this price surge, perhaps underlines the extent of the task of the new management in convincing the market that the tide has turned and that they have a much more positive story to tell.
|warbaby43: Herewith a post I've just put up on iii:
Sure, the current share price is very disappointing but is almost certainly merely reflective of the market being only too conscious and wary of the disasters that befell UKC in 2008 and more particularly in late 2009 and early 2010.
Matters do, however, need to be put into context and we should therefore bear in mind that this time last year ARA was $75.94, $/£ at $1.51 = £2.09 gj which , in turn, meant c£1.93 gj to UKC or £46.32 per tonne.
Contrast that with today, with ARA at $119.61 (and futures at $116 - 120 for the rest of 2011) $/£ at $1.61 = £3.10 gj giving UKC at least £2.59 gj or £62.16 per tonne on its contracted tonnage alone (I suspect they are getting way above that for their "Fully floating" tonnage)
So even if they did hit their target price for 2010 as whole of £2 gj, a current additional 59p per gj equates to an extra £14.16 on every contracted tonne presently being railed to the generators.
Now add to that the recollection that this time last year. Daw Mill was virtually non productive because of the huge floor lift problem (only 200,000 tonnes in the whole of Q1,) Kellingley was in the throes of changing from the Silkstone to Beeston seams and Thoresby was mining in very difficult 13 km from pit shaft conditions in the Parkgate seam pending the new Deep Soft coming on stream in April. Indeed, between them the three deep pits produced only 700,000 tonnes in the whole of the first quarter of 2010.
Now with realminer from ADVFN having been "disappeared" by UKC's KGB, no news or indications of current production figures appears to be leaking out from the bunker, but it is probably reasonably realistic to assume that that the deep pits are continuing to produce along similar lines to Q4 2010, i.e. around the 130 -150 tonnes pw mark.
Throw in three more surface mines producing today that weren't a year ago, along with the very benevolent weather that they've been having in 2011 compared with Q1 2010 and there is good reason to hope and expect a major turn round for the coal side in 2011 notwithstanding difficult geology and a more difficult new face at Daw Mill.
One final note of property optimism (before my savaging at the hands of the Private Frasers) is that virtually all the recent statements that I've seen from the major national housebuilders have spoken of a notable upsurge in both viewings and sales since the start of the year and surprising though this might be it is also reflected locally by an estate agent I know here in N. Yorks.
Plenty to be concerned about with oil and the world economy, sure; plenty to worry about with the UK economy and our farce of a government, certainly; plenty to go wrong and a pension deficit at UKC, don't we know that only too well, but having said all that the one thing that is for sure and certain above all else is that there is a lot more reason to be positive about UKC's prospects than at this time a year ago. And yes, sooner or later the share price WILL catch up.
|semper vigilans: Anybody any thoughts on whether Peel's Trafford Centre ownership rejig may free up things to make a full bid whilst UKC share price still low?|
|trendfloor: Found it.....
From Shares Mag this week:
Share price: 50.3p
Share price low since 1 Jan 2007: 49p (2 Mar 10)
All-time high: 541.6p (15 May 96)
Support level: 49.0p
"The troubled miner has seen its market valuation fall from nearly £1 billion in May 2008 to a mere £150 million. The shares have been hit by operational problems with its underground mines and writedowns in its property portfolio. Coal miner-to-haulage group Hargreaves Services (HSP:AIM) has proposed a merger, having already worked closely with UK Coal in the past on the Maltby colliery, which it subsequently bought, and a previous joint venture called Coal4Energy. Speculation 28% shareholder Peel Land and Property was preparing a bid had given some support to UK Coal's share price earlier this year, but the revelation it was Hargreaves instead doing the talking has subsequently seen the share price weaken again. Buying the shares is high risk, yet UK Coal's turnaround potential remains intact. After recent writedowns, its property portfolio is still worth £394 million and offers huge potential for building homes and office space.
Net debt stands at £180 million. The priority is to sort out the deep mining issues. A merger with Hargreaves would be a bonus and is not a prerequisite of the turnaround story. If UK Coal goes it alone, we believe the share price has already factored in mining risks and there is considerable upside on the property developments."
|angus17: Yorkshire post article in todays paper suggesting that brown field site land values have halved in the last year. I guess UKC share price is beginning to reflect this.|
UK Coal share price data is direct from the London Stock Exchange