Capital Management Share Discussion Threads

[petejay] 01/9/2004 09:08

Any comments?

[petejay] 31/8/2004 19:44

At EGM today shareholders gave go ahead to invest up to 50million euros in Ristretto Holdings and then bring this company to AIM via a reverse takeover by the end of September.
Will this be good news for the share price?

[petejay] 13/8/2004 12:17

Capital Management shares now out of suspension
Up .75p today
Anyone know if the deal with TDR is now complete
If so is it worth topping up?

[petejay] 11/8/2004 12:33

CMIP

Anyone know anything about proposed investment into TDR Capital
The shares are now suspended.
Is this good news at last?

Petejay

[gruffly bear] 05/8/2004 17:32

UK-based TDR Capital buys French building company stake for E320m
20/07/2004. Source: AltAssets.



UK-based TDR Capital has acquired a 67 per cent stake in French modular building company Algeco from Germany's TUI for E320m. The deal is expected to be completed in the third quarter of the year.

Algeco rents and sells modular buildings to public authorities, industrial and commercial clients. The company, which is listed on Euronext Paris, operates in France, Germany, the Benelux region, Spain, Portugal and Italy.

'Together with Algeco's management and employees we are confident that we can develop the company's services and geographic reach further by utilising our sectoral knowledge and financial expertise,' said Manjit Dale, founding partner of TDR Capital.

TDR Capital was set up by former DB Capital executives Dale and Stephen Robertson. The firm closed its debut fund with E500m of commitments in March this year. TDR has already acquired two portfolio companies, UK restaurant chains Pizza Express and ASK Central.

[gruffly bear] 05/8/2004 17:27

Chep's chipper as competition calms down
By Blair Speedy
21jul04

BRAMBLES' core Chep pallet business is expected to have an easier run in the European market in the short term after the sale of a key rival, as this could reduce competition.

German tourism company TUI has sold its 67 per cent stake in French company Algeco for E320million ($544 million) to British private equity company TDR Capital.
Algeco owns La Pallete Rouge, Chep's main competitor in the European market, which has been losing money after a period of too-rapid growth.

Citigroup Smith Barney analyst Jason Smith said there had been concerns Algeco might be sold to a larger company committed to expanding the LPR pallet business.

But as a private equity investor, the new owner would be focusing on cash flow and cutting capital expenditure to return its acquisition to profitability, leading to a better operating environment for Chep.

Credit Suisse First Boston analyst Greg Ward said he expected LPR's sale to herald a period of "rational pricing and controlled capex allocation".

LPR had already cut capital expenditure by almost 50 per cent from calendar 2003.

This would help Chep to lift charges throughout Europe as it had done in Britain, where prices recently increased by over 50 per cent, Mr Ward said.

"We expect Chep can and will retain pricing power throughout the UK and Europe," he said.

But competition from a stronger LPR and white (disposable) pallet maker IPP Logipal, which had committed to spending E80 million in the British market over the next five years, was likely to have a long-term effect on Chep's market share, Mr Ward said.

Goldman Sachs JB Were analyst Hamish Tadgell said TDR's long-term strategy would be to maximise value from its investment. This could mean a break-up of the Algeco group, which drew more than 80 per cent of its revenue from a modular building business.

Brambles, which would be unable to acquire LPR due to European competition restrictions, could then be looking at a leaner, more aggressive competitor being unleashed in the medium term, particularly if picked up by an investor able to fund its expansion.

[gruffly bear] 05/8/2004 16:43

RNS Number:6800B
Capital Management And Investment
05 August 2004


Capital Management and Investment PLC
5 August 2004

Proposed Investment

The Company announces that it has reached Heads of Agreement with TDR Capital to
invest up to 50 million euros in a newly incorporated investment vehicle
("Newco"). Newco has been set up with the specific intention of acquiring, via a
French subsidiary, Ristretto SAS ("Ristretto"), up to 100 per cent. of the
ordinary share capital of Algeco, a public company listed on the Second Marche
in Paris. Ristretto has already reached agreement to acquire 67.98% of the share
capital of Algeco from its current owner TUI AG ("TUI"), its current majority
shareholder.

Following the completion of the sale and purchase agreement for the acquisition
of shares from TUI, Ristretto expects to make a public offer to acquire the
remaining shares from its other shareholders. CMI will not be required to make
an additional investment into Newco to fund this purchase.

Algeco is the European market leader in the manufacture and sale of modular
construction units. It operates principally from France, Germany, and Spain.
Algeco owns over 100,000 modular units which are used for a variety of purposes
including temporary classrooms for schools, offices on construction sites, and
dispatchable command posts for the French Army. Algeco also owns LPR, a pallets
business operating in France, Spain, and the Benelux. Financial Results for the
Group for the year to 31st December 2003 showed a Profit Before Tax of 38.4m
euros on Turnover of 395.7m euros.

This transaction will require shareholder approval at an extraordinary general
meeting of the Company. The Company's shares will be suspended with immediate
effect until the publication of a Circular to Shareholders which is expected in
the next two weeks. A further announcement will be made at that time.

ENDS

[gruffly bear] 05/8/2004 16:42

LONDON (AFX) - Capital Management and Investment PLC (CMI) said it has
reached a heads of agreement with TDR Capital to invest up to 50 mln eur in a
newly incorporated investment vehicle (Newco).
Newco has been set up with the specific intention of buying, via a French
subsidiary, Ristretto SAS, up to 100 pct of Algeco, a public company listed on
the Second Marche in Paris.
Ristretto has already reached agreement to acquire 67.98 pct of Algeco from
its current owner TUI AG, its majority shareholder.
Capital Management's shares have been suspended on AIM.
"Following the completion of the sale and purchase agreement for the
acquisition of shares from TUI, Ristretto expects to make a public offer to
acquire the remaining shares from its other shareholders," the company said.
bam

[gruffly bear] 16/6/2004 15:07

I guess we are destined to remain in the dark gresham!

[gresham] 16/6/2004 14:58

Just the question i wanted to ask - Ive lost most of the money I invested in this company and have been wondering whats going on. have been digging to try and find something but to no avail.

[gruffly bear] 16/6/2004 12:57

who are these people building a stake (%5+ now) and why are they doing it? Is something going to happen at last with this shell?

[gruffly bear] 24/2/2003 18:42

What is this likely to mean for us as shareholders of CMI?

I assume that the offer will mainly be paper based and that, therfore, we will stand still in the short term as regards the value of our shares BUT I guess that if succesful (in any take-over and positive trading going forward) we will be shareholders in a trading company and may benefit from an improved P/E ratio and any shareholder returns from the various schemes being suggested by Hugh.

Am I on the right wavelength here?

[heavy messing] 24/2/2003 16:45

Hey, please share you knowledge here if you have anything
useful thoughts on this deal to impart.

If not - gtfb to isys. ;)

Hev.

[touch2002] 24/2/2003 16:42

dull on this board, was expecting some chat,

back to isys/fwy,

touch

[heavy messing] 20/2/2003 07:48

Did they really Argy?

CMIP's shareprice is already up some 44% this month.

Anyway I'm just monitoring this situation for now
without any direct £involvement.

[heavy messing] 20/2/2003 07:36

Seems ultra ambitious gunning for Six Continents,
but if anyone can successfully a takeover from a position
like CMIP's, its Hugh Oswald and his team.

More than likely I think other parties in technically
stronger financial positions are going to run the rule
over Six Continents now its come to their attention.
That doesn't neccesarily mean CMIP is out of it's league
as they are very clever operators.









Any opinions?

Regards,
HM.

[argy2] 20/2/2003 07:24

Might explain why those alleged conmen running this business exercised warrants to buy at just 2.5p last month!

[heavy messing] 20/2/2003 05:59

Plenty going on now. ;)

[codhead1] 09/7/2002 18:17

Struggling to find out what is going on here. Anybody seen anything on this lot?

[codhead1] 27/6/2002 22:35

Can anyone enlighten me - From the RNS what effect does this have.