03 September 2004
Cabouchon Plc announces that, at the Extraordinary General Meeting held
yesterday, all resolutions were duly passed.|
LONDON (AFX) - Cabouchon PLC is proposing the reverse takeover of Seven Arts
Filmed Entertainment Ltd as it exits its costume jewellery business and enters
the motion picture sector.
It said it will purchase Seven Arts for 4.8 mln stg in new shares. Following
completion, Cabouchon will be changing its name to Seven Arts Pictures PLC.
Cabouchon is to sell the current business and assets of the company --
Cabouchon International Ltd, The Cabouchon Collection PLC and The Costume
Jewellery Co Ltd -- to Julie Ann Wing, the managing director.
Wing will be assuming 138,000 stg of existing company debt in the form of
loans made to the company by its directors and of all the obligations of
Cabouchon International including taking over responsibility for all employees.
Cabouchon said Seven Arts is a motion picture production and distribution
The disposal of the company's current business will involve the resignation
of Wing as a director of the company. Both Jake Hughes and David Pearl will also
resign as directors of the company and will have no further involvement in the
business after its sale to Wing. It is then intended that Peter Hoffman, and
Rufus Pearl will be appointed as replacement directors in the roles of chief
executive and non-executive director respectively.
Ken Bone will remain as finance director of the company.
The Co has 30.6m shares issued and 69,400,000 shares of 5p authorised(see note 16 of last Accounts) but unissued,so it looks as though it may be issuing 68,570,000 @7p a share in which case present "old " cabouchon shareholders -capitalised at 0.59m- will control 30.6% of Seven Arts ,valuing it at £1.93m. Hopefully the 99.17m shares will rise to 4.84p valuing Seven Arts at £4.8m again.|
|"In 1996 Peter & Susan Hoffman founded Seven Arts Pictures (SAPL), an independent
motion picture production and distribution company which produced and distributed
the motion pictures: Johnny Mnemonic, Never Talk to Strangers, 9 _ WEEKS II and
Shattered Image. Seven Arts Pictures has a production and distribution agreement
with Fireworks Pictures, Inc. a subsidiary of CanWest Global Entertainment, Inc. and
together they have produced or acquired and distributed eleven motion pictures
including: Onegin, The Believer, An American Rhapsody, Cletis Tout and Interstate
60. Seven Arts Pictures also co-financed three major motion pictures: Rules of
Engagement, Rat Race and Hardball in conjunction with Fireworks and Paramount
Pictures Corporation with whom Seven Arts Pictures has an overhead "first look"
agreement. Prior to forming SAPL, Mr. Hoffman was CEO of Carolco Pictures Inc.
until 1992 when he formed his own production and distribution company,
Hoffman was president and chief executive officer of Carolco Pictures for six years, a period when the company was involved in Terminator 2, Basic Instinct and Total Recall. He left Carolco to set up Cinevisions, the pre-cursor to Seven Arts.
This week's move is subject to shareholder agreement at an extraordinary general meeting to be held September 2. Seven Arts would join film companies ContentFilm and Civilian Content on AIM.|
|I'm quite amazed these haven't got to 10p yet!! maybe next week though! Whatever, they'll rocket soon enough you'll see!!|
|yes I agree Opthalmist,
I should of kepy my other half that I sold out at 31.5p. Ashame but lately I have sold a few to early, so its not surprising for me. I will find more gems before open any day this week.|
|Hi RL, I would get back into EKM before close today if you can. I've a feeling it may rocket tomorrow when the MMs get the 95% holder to sell a few for a huge premium, and the resulting RNS's.|
|I agree Hemsworth, and really soon everyone will be pilling back into this share. Nearly back to my 3p get back in price.|
your surely not serious???
|I piled in a 6.5p and don't have any regrets about it. In fact I'm more than positive that I'll probably double or even treble my money within 6 months or sooner. Great stock, pile in there and obtain your own large chunk.
dell314, "The company has put out a "we know of no reason for the rise" type RNS". Don't you believe them, I mean what do they know about the stock market? Seen this type of thing before only for the share to go on and treble the very next week.
Research, research and more research, that's my motto!!|
|Most people who bought this one in on my recommendation must be very happy since most managed to sell out at the right time.|
|Looking to get back in at 3p again. Remember as Wole pointed out before this is a damn good company. In my opinion it at 2p was bullied all the way down to that price by the market makers tricking and shaking people out. A target price to fall to 2.5p and then back up to 5p in opinion.|
|Hemsworth - Are you insane?
The company has put out a "we know of no reason for the rise" type RNS.
If they had any good news to put out, to try and justify the rise, don't you think they would have released it??
Have you actually read all of the rubbish that was posted on this thread to drive this up?? Surely, you didn't believe it?
You've simply been suckered in to another Responsible Lad/Logica2me pump 'n' dump.
See it as a learning opportunity....
|Pile in there, this one's going to rocket. Just hope I can keep my nerve!!!!|
|Time to pile in I think|
|This one's going all the way|
|Crowman - look at ADL. alot of the traders from CBO have just moved over there. director buying announced after close today.
could be very blue tomorrow.|
|I looked at this at 1.75 or thereabouts a week or so ago.... was on the toplist as riser, rememebered it being launched 2001?
Discounted purchase on fundamentals so felt a bit silly when it rose to 5-6p.
Well done to those who saw the move upwards and commiserations for those caught up in the hype, this outfit is in danger of going under for the last time and should be valued accordingly IMHO.
Still a shame to have missed the 2 - 6p rise.
|-25% ouch wouldnt like to have bought at 7p|
|BerinieBoy i would say that is under statement of the day!|
|This is looking a bit dodgy for those that got in I'm afraid...|
|Sue Helen and Chicken, remember to get your shorts in first thing.|
25 February 2004
Cabouchon PLC ("Cabouchon")
Statement re share price movement
The directors of Cabouchon note the recent movement in its share price. The
directors are not aware of any specific reason for the significant share price
movement at this time.
25 February 2004
This information is provided by RNS
The company news service from the London Stock Exchange|
|wonderful stuff Sue Helen, I got a little worried for those buying on my hope yesterday because when they dipped and I sold out 45K myself at 4.25p, thinking I may lose all my gains, but infact I would of been 1000 better off if I kept hold of all my shares. Secondaly I sold the rest which was about 25K odd at 5.75p. Feeling good that the proffestionals like you sell out which must mean I am thinking right with my own trading. Also delighted with my 1,450 in ADL @4.08p and my 1,500 in ADL at 4.5p.
I have made 680 pound from last November into 6,000 now. Does not look a lot but I always sell out to early and the money is a lot to me since I was living on only 20 per week for spending money for my social life.
Sue watch out for the big fallers because today its the best sign in the market there is for traders like us with CUS, OCR and WHOG loosing so much. double6 made a fortune last year during the time the market fell every day on the bounces.
Good luck with your trading,
|and going short tomorrow am !!!!!!!!|