Cantono Share Discussion Threads

[8trade] 27/5/2009 23:28

LOL !

I dont know why i bother to mention it timely, like PR any facts in
a RNS are just completely ignored, ffs do you lot read a different
RNS from me ?

[timely3] 27/5/2009 20:55

I should have finished the sentence by saying the share price wiill be moved up to enable shareholders to exit pre the GM at a price imo around 15p.

[timely3] 27/5/2009 20:38

The point is that they still nees shareholder approval to get this through so I expect a sweetener to make this happen.

[8trade] 27/5/2009 17:37

Am i reading the same RNS as you or have you been taking lessons
from Pilly_Rocks ???

Use of proceeds


Shareholders will be aware that the Company secured funding through the issue of
the Loan Notes in December 2008 and May 2009 of which GBP2.34 million has been
drawn down to date. Completion of the Disposal will be an event that triggers
redemption of the Loan Notes and, accordingly, the proceeds of the Disposal will
be used to fund such redemption. However, the Noteholders have agreed to not
redeem in full the Loan Notes as they are keen for the Group to continue to have
all the financial resources required to pursue the dispute and potential
litigation with certain subsidiaries of Xploite plc arising out of the disposal
of the Group's managed services business at the end of last year.


As the Loan Notes will not have been redeemed in full, the security granted to
the Noteholders will remain in place following Completion. If the Group is
successful in the above litigation any damages recovered will need to be applied
first in redeeming the outstanding balance of the Loan Notes and any remaining
surplus will then be applied in paying off any creditors. Accordingly, there may
not be sufficient funds available to create any value for the Shareholders.The
Noteholders have indicated that in this situation, and where the sum payable to
Noteholders is substantially in excess of the cost of contesting the litigation,
they may be willing to make an ex gratia payment to Shareholders out of the
redemption monies received by them, the quantum and terms of such payment to be
at the discretion of the Noteholders.

[timely3] 27/5/2009 17:32

I am certain it was 4.22 but will check. Yes, can't wait for tomorrow.

[pelleeds1980] 27/5/2009 17:14

ps I take it wasnt at 3:22 and was at 4:22? The times above must be an hour wrong

[pelleeds1980] 27/5/2009 17:14

Completely missed the RNS well spotted and should be a good day tomorrow

[timely3] 27/5/2009 17:11

A bit optimistic on my part thinking it would be worth 30p, but pleased to see it has come out at in excess of 15p per share. I am looking forward to seeing the price move up tomorrow as I see it moved up 0.25p in the 8 minutes before the close of trading as buyers moved in to get the benefit of the much higher exit price. It bodes well for a good day tomorrow hopefully. Good luck to all holders.

[timely3] 16/5/2009 07:17

I hold a big chunk of these of these so I hope they fly when it is known how much they get for the sale of the data centre. It is a risky share because of the bonds in play, but imo they should hit 30p at least which would only be a mkt cap of £9m. I fully expect the data centre on its own to be worth that. All imo dyor.

[aishah] 14/5/2009 13:07

looks very tempting @3p

[whowantstobeamillionaire] 10/5/2009 13:09

wrong thread :-

[timely3] 10/5/2009 13:06

What has this drivel got to do with CTNO?

[timely3] 10/5/2009 12:44

Hi mdchand,

The other factors in play imo are:
1. The balance due from XPT (if they win the court case).
2. The company will be a clean shell in due course to be reversed into.
3. The December loan note won't get converted into shares if the notes are paid off by the sale of the data centre, thereby leaving the number of shares in issue at 30m.
4. Given that shareholder approval is needed prior to the sale of the data centre, surely this will mean shareholders will be able to exit before the loan notes are repaid?
Let me know if I have got any of this wrong as I am also having to weigh up whether to continue to hold my shares.
The fallback last week was inevitable with profit-taking, but what next is anybody's guess? Imo I think the share price will drift now until a possible run-up when news is forthcoming on the actual sale price received for the data centre.

DYOR given the high risk associated with this share.

[timely3] 03/5/2009 12:00

I'm surprised the press didn't pick this one up having led the price increase board on Frday. I am waiting to find out what the likely price is going to be for the data centre. IMO it will be well ahead of the current share price, but happy to be shot down if someone knows better?

[mryesyes] 02/5/2009 19:14

Interesting there are not many of these left to save, I had missed this one but basically it was 50p last year but now it has these funds until 2011 so yes I agree it should continue up

[timely3] 02/5/2009 07:07

We are all in a state of shock I expect!

Looking at the position this morning I seem to recall that the data centre is valued at c£15m which would equate to a share price of 50p, (the share price this time last year).
I will therefore be holding onto my shares for the ride as imo this may have a long way to go yet.

[ljsquash] 01/5/2009 11:08

400% up and not one post?

[mdchand] 01/5/2009 10:35

guys - be careful. Underlying asset may be worth £8m but the loan notes are a licence to print money. If they get redeemed within 1 year, they effectively double in value in terms of liability to the business.

Doing some very rough maths.

Loan notes approx £2.45m. Assume they get redeemed within 12 months - they become approx £5m liability. The convertibles from the December fund raising will also massively dilute the share price

Assume we get £8m for property, minus loan notes leave approx £3m in the kitty. Assuming after conversion we have approx 70m of shares. That leaves 3m / 70m which equates to 4.2p ish.

These are rough numbers but effectively the loan notes have really screwed the shareholders enabling the directors etc to strip out enormous value from the business. Nice work if you can get it.

Of course, if the underlying asset is worth say £16m then we get 8p ish.

Was a great punt at circa 2p. Perhaps only for the brave now or the people who know something I dont!

[pelleeds1980] 01/5/2009 09:56

CLN mate too if your feeling brave

[pelleeds1980] 01/5/2009 09:31

That brings things into perspective a little for me. Good luck with your break even

[59david] 01/5/2009 09:27

Still a fair way to go for it to get back to my purchase price of 70p but well done all of you who bought in when it looked bust

[pelleeds1980] 01/5/2009 09:18

I see were off the scale on the toplist. Bought in wish id read the RNS fully 10 mins earlier! Priced to fail and now this.

In at 5p GL all