Cabot Energy Share Discussion Threads

[alexicacon] 28/2/2004 13:51

Am i wrong or do they now have £6.5mil in the bank, with a further £3.5mil to follow?

[esrimeur] 27/2/2004 22:55

JV - this co is unique on AIM. No other co turning over £60 mln is capitalised so lowly. But, moreover, this is a global brand and the US and Far East owners of the Carborundum brand in their territories cannot see it failing in Europe.

A small turnround, as predicted by the Chairman, and this is into profit and then some.

I averaged down today.

Best of luck all Cabbers!

[25october1969] 27/2/2004 12:56

Hi Obelix

Not yet decided, a minimum of 8.5m at 14p gives the £1.2m referred to in the Press release. They may go for more but not I would think materially more

[sugarbeast] 27/2/2004 12:31

Hello 25/10/69.

I've just been having a brief look at this.
do we know how many more shares are being placed ?

[25october1969] 27/2/2004 12:17

Have spoken to company and they have confirmed that conversion has taken place. The placing is aimed to take place in the next 3-6 weeks

[jeff_v] 26/2/2004 17:42

Quiet in the cab today. MM buy for 25k quite nice. Wish they'd get on with their placing and confirm the loan note conversion, might allow some buying to begin.

[25october1969] 25/2/2004 11:57

have just managed to pick up two lots of 25k at 15.7p.

[jeff_v] 25/2/2004 11:49

I was wondering whether it would be the offer that would fall from now on. I'm hopeful that this indicates the placing is 14p as the bid hasn't dropped (yet).

[jeff_v] 25/2/2004 11:46

No, I was looking back at the 400k+ sale which came out as an RNS. At least someone is confident that they can shift them at +15.5 if that was a sell to a preferred client.

[25october1969] 25/2/2004 11:44

I thought you had seen the 100k at 15.5 when you posted re Silverslaggan averaging down!

[jeff_v] 25/2/2004 11:43

100k at today's mid? What's the hell's that? Sell carried over from last week?

[25october1969] 25/2/2004 11:11

I tend to agree with you. I have been trying to contact the company since last Friday but no luck, many unreturned calls, I am not at all impressed and with their poor track record I would have thought that the last thing they want to do is p*ss off investors who show an interest in them.

[jeff_v] 24/2/2004 18:54

Esrimeur - how do you make this to be the most undervalued stock on aim? What do you make the current nav to be? I'm far too lazy and stupid to try and work it out. Thanks in advance if you are not.

[jeff_v] 24/2/2004 12:18

Needs a CAB to 100p in 12 months type of thread. No one seems to trades these.

[esrimeur] 23/2/2004 18:26

Ken Jackson organised the convertible with Nicholson Graham & Jones. It took 1 day apparently. Read into that what you will. But KJ was on the Regional Panel of the LSE and was a consultant until last June.

Carbo is now, I say, the most undervalued stock on AIM.

[jeff_v] 23/2/2004 16:25

Going nowhere until they confirm placing, price & quantity. If they stuck with 21.25 for converting the loan notes would indicate where this share should be on the bid.

[alexicacon] 20/2/2004 23:32

I think the details of the conversion would have already been resolved, but it would be nice to know exactly what they are. I was looking to get in at 15p but i may have to have a rethink. I'll see how Monday goes.

[alexicacon] 20/2/2004 23:21

nikesh2, You bought at 19p and sold 24 hours later at 15.5p, for a loss of over £350. Yet CABs circumstances haven't changed over the previous 24 hours. IMHO, with the new finance in place and the cost cutting they have a good chance of making a profit medium term. Which is why i will be buying shortly.
I don't wish to criticize, but your stategy seems bizare, however it obviously works for you.

[25october1969] 20/2/2004 23:03

I did not say the shares had been admitted to the exchange, I said the conversion had happened or so I was told today by someone close to the company. This is not "inside information " all in the public domain

[esrimeur] 20/2/2004 22:06

No it has not, 25/10/69.

CAB must apply to the listing authority for these to be admitted to the exchange.

So far, that has not occurred.

[25october1969] 20/2/2004 20:57

The coversion at 21.25p has already happened

[esrimeur] 20/2/2004 19:44

JV - well as the "fresh" money is from placees, I guess one could say that we're not comparing like with like, so I suspect the price may well be different, although 14p would be round about right given the recent mkt price.

As regards the conversion of the £3mln+, I certainly think it misleading if that does not occur at the price stated last October, given that yesterday's RNS was silent on the point. It would also give out the wrong signal to reduce that price now, so my best guess is that it will remain at the 21.25p - also helps to keep the placees on board, as they are probably not locked in at all.

Sticking with it for the medium term - at this capitalisation there is so little to lose and I'm really quite optimistic that they can turn it round and into profit over the next couple of years.

Good luck with it.

Cheers.

[jeff_v] 20/2/2004 16:02

Esrimeur - do you also suspect they will be different prices to those announced in October 2003?

[jeff_v] 20/2/2004 14:34

nikesh2 - you created this thread yesterday and bailed out today. Quick work mate.