Share Name Share Symbol Market Type Share ISIN Share Description
Carclo Plc LSE:CAR London Ordinary Share GB0001751915 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 10.70p 10.60p 10.80p - - - 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 146.2 8.2 11.6 0.9 8

Carclo Share Discussion Threads

Showing 17651 to 17675 of 18175 messages
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DateSubjectAuthorDiscuss
04/7/2018
12:50
Got to say Consort timing was pretty much perfect-caught Carclo at the low point. That's capitalism for you.
meijiman
04/7/2018
12:21
Aerospace who cares? :-( But Hilarious. Shame on you!
illiswilgig
04/7/2018
12:05
queeny2 - I agree I looked at this a month ago. Concluded it was very cheap, but decided to hold off as I was worried about more near term downgrades. Bought in on the Consort news. Surprised the shares are not higher. Consort are clearly serious as they would not have made it public. 116p is an opening shot, so we can comfortably assume they will pay a decent amount more. Edison note, although not independent, does provide a not unreasonable SOTP valuation of 144-153p. Add on synergies and a bid premium and there is decent upside.
thechurch333
04/7/2018
12:04
So you think worth buying the shares today? My read is that they don't fancy Consort so no doubt the adviser will be sounding out other parties either as white knight ( nice and cosy-jobs for Carclo management)or anyone who can outbid Consort and they can slash costs etc
meijiman
04/7/2018
11:27
who wants to have a stab at what Car is worth in a takeover? CTP sales £90m (Bespak, CTP equivalent, £130m, Aesica, drugs, £180m) Consort has market cap of 2x sales, plus £100m debt Not sure what multiple is correct for the two divisions respectively + cost saving synergy, not least the CAR £3m of central costs, put that on 10x + LED sales £50 could be a snorter, just wondering how much of one. Aerospace who cares?
queeny2
03/7/2018
16:49
I must say Carclo is, wholly unexpectedly, turning into the stock that keeps on giving. I only ever joined in because I thought the touchscreen business was wildly optimistically valued (and then the diagnostics, although less dramatically) but this new development is very welcome and unexpected, at a time when I was anyway coming round to rivaldo's position that the shares were getting very cheap, even if one's forecasts differed in optimism. Looking ahead: 1 Car wave white flag quite quickly in exchange for a raise - fine 2 Car put up respectable defence somehow, make some believers, see Consort off - ok 3 Car put up excellent defence, eg find rival buyers - excellent 4 Car have the third profit warning I was waiting for, but now don't see - oh dear
queeny2
03/7/2018
16:39
boadicea - absolutely right, I was missing the LED division which as you say might be sold after an acquisition of the whole. Who knows what share of the assets/liabilities/deficit belong in which division.
queeny2
03/7/2018
15:50
queeny - You may be right. However, what I had in mind is akin to what happened when Invensys sold their Westinghouse Signals subsidiary to Siemens. A proportion of the cash was used to eliminate the Invensys pension deficit. I don't know what (if any) pressures were applied to achieve this result. However, it does seem a reasonable requirement, at least in part, as the company would have divested itself of part of the business supporting the recovery of the deficit. Alternatively, any eventual aquiror of the business intended for sale (i.e. the Car lighting business in the current case) could be required to take on the share of the deficit applicable but that would substantially reduce the price likely to be achieved, the end result being similar.
boadicea
03/7/2018
14:00
No stakebuilding in evidence. One hedge fund has bought, looks like Henderson have been sellers.
queeny2
03/7/2018
13:55
boadicea, Consort have a similar pension deficit in Bespak (although I can't find the gross assets and liabilities, should be in AR somewhere) and a couple more acquired schemes, and are making similar top up payments. They are also a larger company. I suspect that the trustees would be ok with transferring across with undertakings to continue top-ups etc?
queeny2
03/7/2018
13:13
Looks like Consort are stake building, this could turn hostile.
cantab
03/7/2018
11:30
I suspect that the pension trustees and regulator would require a substantial chunk of any divestment cash. The current deficit is around £25m or about 1/3 of the current capitalisation even at today's somewhat improved figure.
boadicea
02/7/2018
22:15
Medical would probably be worth at least 100 million in an auction which is more than the current market cap. Selling this, slashing the corporate overhead by at least 50% and returning cash to shareholders is the way to go. Board should not reinvest any of the proceeds.
overmars
02/7/2018
21:54
How much is the medical part worth or for that matter the whole company, I've seen a share price forecast of 165p
beeezzz
02/7/2018
21:35
Should sell Medical to highest bidder and return funds to shareholders. We clearly have a very motivated buyer - willing to bid for the whole company to get Medical.
overmars
02/7/2018
13:38
Yes, but they only get one bite - once they're in, absent alternative buyers, it's all over, so the top price has to be extracted before they get in.
queeny2
02/7/2018
13:23
Reads like an invitation to Consort to put a "sensible" price on the table so they can allow access to data doesn't it?
1gw
02/7/2018
13:11
just did! exactly in your format. It says nothing, oh dear, nothing at all, that's weak, no urging shareholders to take no action, no financial advisers named other than NMR, whoops, dead in water I fear. edit - the weakness of the statement has two meanings: a) they have no current worked-up defence, in terms of credible standalone strategy b) their ability to compel Consort to pay thru the nose is limited so from what we knew just before the response, it increases the probability of a deal but lowers the possible maximum likely price a deal could occur at. They have one card really - Just Say NO to meeting/discussion. It's worth a lot to Consort to get a recommended friendly transaction, just a question of the price for a recommendation now I'd say. It really is the weakest possible response I've ever seen.
queeny2
02/7/2018
13:06
In fact, given the time elapsed since Carclo rejected the Consort approach, you might expect Carclo had by now engaged advisors to think about alternative buyers to Consort. About time they got out their initial response isn't it? "The Board of Carclo notes the announcement issued by Consort today..."
1gw
02/7/2018
13:02
They will need to present strong strategic alternatives to the deal mooted by Consort. That will include a remaining solo proposition, which might include future sale of either health or automotive. If the solo proposition doesn't have traction, then how to get the highest price becomes the question, which would include consideration of alternative buyers. Issue is the strange mix of health and automotive in finding someone to look at it - any buyer, whether trade or PE, would need to split the divisions and keep one, sell one. Consort are being quite adventurous here.
queeny2
02/7/2018
12:51
That suggests the CEO might look for a white knight then (if he reads the institutions the same way). Ie a buyer that would find a role for him or at least allow him to exit with reputation less damaged. Any candidates?
1gw
02/7/2018
12:43
meijman - yes he has, and it's been a torrid time, ending with double profit warning and sacking of FD and starting with you remember well what. Hence my view that company is dead duck in this battle unless the chair and fd can provide great credibility for shareholders to give it a go rather than roll into shares in the new bunch. I can see significant institutional support for the deal.
queeny2
02/7/2018
12:10
Illis-think ceo has been in situ since 2013? That's the key job..not the Chairman or FD.
meijiman
02/7/2018
12:01
Tricky AGM on 19th. hxxp://www.carclo.co.uk/~/media/Files/C/Carclo-v2/investor-docs/results-and-presentations/carclo-agm-circular-2018-web.pdf
queeny2
02/7/2018
11:55
meijiman - No! I think CAR management have done a terrible job. But there is a new management team just about to take the reigns (as Queeny describes) and FWIW I think the new chairman has been behind the more professional response to the last profit warning and I suspect that although he doesn't actually become chair for a couple of weeks he is a NED anyway and is probably behind the old chair being put out to grass. I would much prefer that the new team, especially the FD gets a chance to prove their worth - and Queeny's comments reinforce my view. cheers Illis
illiswilgig
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