Beacon Rise Share Discussion Threads

[thumper123] 06/12/2002 08:16

Ireally cant be the only person with any interest in this angostura panto. Rise yesterday, early trade today. Is there really a chance that this long distance engagement will move to closer quarters?

[thumper123] 05/12/2002 09:23

would like to know what more experienced traders think about BRS ...will take over end in bitter tears. I've been a holder for long time @62p, and have bought another 20 today. Price is up, but spread is wider than a brokers smile. My man who knows opines action is imminent- but we heard this before. Thoughts, comments would be appreciated. I know you are all busy doing stuff that only grown ups understand, but Ireally would appreciate some input.

[thumper123] 04/12/2002 19:22

BURNS STUART ? motion at last.

Been in and out at least three times, currently holding 20 thou at 62. Chat is that this will happen for us on Tuesday next, hoping for 70,ish. Can anyoneelse add to this -for good or ill?

[dontrader] 27/11/2002 09:10

Article from todays Business AM

Britannic tackles Burn Stewart over length of takeover talks

A LEADING shareholder in Burn Stewart has challenged the distiller's management to explain why negotiations about a potential takeover deal have dragged on for more than seven months.

Britannic Asset Management, which owns 4% of the distiller, said it had received no contact from the company during the protracted negotiations and was in the dark about whether a deal would proceed.

An analyst, meanwhile, said he was amazed that the take-over panel had not forced Burn Stewart to disclose further information about its talks with a Trinidadian firm, CL Financial, which began in April.

The East Kilbride company, best known for its Scottish Leader whisky, told the stock exchange on 12 September that CL Financial would be in a position to make a formal offer for the company via Angostura, its listed subsidiary, in "the next few weeks". Burn Stewart's share price has held firm despite the uncertainty, but it closed down 4% at 60.5p yesterday.

Kenny Watson, Britannic's UK investment manager, said that investors needed clarification of the situation.

Burn Stewart, led by its chairman, William Thornton, should provide a formal update, he said, adding: "It is concerning that is dragging on because it does make you cautious. If there is uncertainty, they should be making some form of announcement about how things are progressing."

Speculation about a deal has focused on price considerations and whether Angostura will fund a transaction entirely in cash or with a share element.

However, one analyst said that the drawn-out talks may hinge on discussions over Burn Stewart's future banking arrangements or on so-called "legacy" issues relating to the late 1990s when the company renegotiated its banking facilities after incurring heavy losses.

HBOS, Burn Stewart's banker, stressed that there were no "legacy" issues relating to its relationship with the distiller.

Burn Stewart said that it had never been in breach of its banking covenants.

[dontrader] 30/10/2002 09:39

Article in today's Business AM says that the takeover deal has been delayed by at least 2 weeks. Sources close to the negotiation said that it was likely to be the middle of November before any agreement was reached.

Drawn out negotiations have led to speculation that CL has struggled to raise the finance.

The source said the delay was due to "housekeeping difficulties" and the deal is not under threat.

Slippage could have a negative price on the share price.

Don

[stuart70] 22/10/2002 11:57

Thanks for that dot..

Yes 70p will do me just fine. :)

[dotcunningham] 21/10/2002 18:26

From the Herald



Burn Stewart adds dash to rum group
Scotch whisky distiller at centre of Angostura's expansion, writes KRISTY DORSEY
WHISKY distiller Burn Stewart, which is drawing towards the end of a protracted takeover by Angostura, is set to become a central piece in the Trinidad rum group's plans to build a new force in the European drinks market.

Backed by parent company CL Financial, Angostura is said to be eyeing up other acquisitions that will be rolled together to create a broad portfolio of products. Despite being a significant sector player in other parts of the world, Angostura's European base in Geneva is tiny, with its main trading interest being the Auxil distribution operation in France.

Angostura acquired Auxil, which handles distribution to specialty liquor stores, about two years ago. The Trinidad group is now expected to complete its purchase of East Kilbride-based Burn Stewart some time next week, with other European acquisitions likely to follow.

One of those which Angostura has held talks with is Cooley, the Irish distiller set up in 1988 and owned by a network of about 350 high net worth individuals. Although those discussions were broken off at the end of September, they hint at the nature of Angostura's European strategy.

Like Burn Stewart, Cooley is a relatively tiny operation, producing profits in 2001 of some £526,000 on sales of brands such as Kilbeggan, Connemara, Tyrconnell, and Locke's. It also generates a large amount of revenue from making own-label Irish whiskies for the supermarket trade, an activity that accounts for about 66% of turnover.

John Teeling, co-founder and chairman of Cooley, said his company was now concentrating on ways of partnering with Angostura to use its distribution network. Cooley already uses distributes three of its brands through Auxil in France.

He said discussions with Angostura were halted because they were taking too long and were diverting too much of the management's time away from running the business.

"But there is no animosity there whatsoever," he added. "If the phone call came in today, I would take it," Teeling said.

"They (Angostura) want to create a large European drinks business, and they see the need to have Scotch, and maybe Irish whiskey and perhaps a few other types of beverages."

Angostura is also looking at purchasing further distribution operations, Teeling said, and has identified at least one potential target in Poland.

There are also links between the Scottish and Irish firms, as Burn Stewart does some of the bottling for supermarket own-label whiskies sold by Cooley in the UK. Ian Bankier, managing director of Burn Stewart, has also in the past explored the possibility of expanding into the Irish whiskey market.

Although executives at Angostura's headquarters in Trinidad refused to return calls on Friday, the company has previously hinted at its European aspirations.

When Burn Stewart confirmed Angostura's takeover approach in April of this year, the Scottish company said the Trinidadians intended to use Burn Stewart "as a platform from which to pursue international expansion". The company produces Scottish Leader for sale in the UK, Taiwan, and South Africa, bottles own-label whiskies for supermarkets, and ships bulk spirit to South Korea for the locally-bottled Scotch Blue International brand. It owns distilleries at Tobermory on Mull and Deanston in Perthshire.

CL Financial, which already owns 28.3% of Burn Stewart through Angostura, is expected to offer between 60p and 70p for the remaining shares in the company.

The long-awaited deal is now expected to reach a conclusion some time next week, marking yet a further delay.

Shares in Burn Stewart closed unchanged on Friday at 64p.

- Oct 21st

[jamsie] 16/10/2002 03:39

bought 12p sold just over 50p

[dontrader] 15/10/2002 15:18

I'm going to follow Stuart on this one. I hold from about 12p and will be happy to avoid the dealing costs. I can't see how this would now not take place.

Don

[hosede] 15/10/2002 13:10

OK but just remember that if the deal falls thru, market makers will learn well before you do. I doubt you would be able to sell much above 40p. This is still a loss making company with at least a couple of years before a Divi might come up. cheers and good luck

[hosede] 14/10/2002 09:11

Took the money on Friday - having bought at around 18p. Bid may be higher but if it fell thru shares would halve or worse. Remember Charter! bid from Lincoln at 500p dropped and now where are they? 109

[stuart70] 13/10/2002 14:28

Is there anybody there?

[stuart70] 29/9/2002 22:13

up, up and away we go!!!

Can't believe this thread has been so quiet the last couple of months.

Check out the chart! this is a winner!!

[stuart70] 20/9/2002 19:22

Colin Blackbourn also known as the 'Black Prince' has built up a 1.31% stake in the Co lately as he believes a bid is imminent.

[drsmessguide] 13/9/2002 06:41

Sounds like a done deal, why would you align year ends unless it was certain? Question is whats the price?

[balcony] 05/9/2002 08:19

anyone know if burn stewart as been mentioned anywere today ? seems lots of buys, thanks

[venus] 03/9/2002 10:56

Hi

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Best of luck. Lets make this work.

Regards

Gavin

[dark matter] 03/9/2002 10:56

VENUS CAN YOU PLEASE LEAVE THIS BB FOR GOOD.

NO ONE IS INTERESTED IN YOUR PYRAMID SELLING SCHEMES.

CASHEVOLUTION IS NOTHING MORE THAN A CON.

YOU ARE NOTHING MORE THAN A CON MAN FOR TRYING TO SELL IT.

YOU ARE CLOGGING UP THE BB AND DESTROYING THE VALUE OF IT TO OTHER POSTERS.

YOU ARE NOT WELCOME HERE.

PLEASE GO AWAY.

[balcony] 03/9/2002 08:23

i would guess the company can now show the latest results, and they should be very good , a 65p offer any day now.

[dontrader] 02/9/2002 07:58

The last news I read was in the Business AM last week which said that Ian Bankier and other execs were off to Trinidad to discuss the offer with CL.

Would expect some information this week. 65p bid for cash seems the consensus.

Don