Carclo Share Discussion Threads

[rivaldo] 07/8/2018 10:30

...so on the other hand....:o))

From our POV it's just speculation as to whether Consort were trying it on cheaply from CAR's perspective, or whether Consort were unhappy with the books or prospects, or whatever. We'll never know.

CAR's statement that they are "highly" confident going forward is unusually strong.

It'll be interesting to see whether CAR's primarily institutional shareholder base give any indications in public as to their happiness or unhappiness with the whole bid situation etc.

[queeny2] 07/8/2018 10:09

"The Board of Carclo remains highly confident in the Group's prospects and standalone strategy." economical

[pldazzle] 07/8/2018 10:02

Remslie - Or another possible scenario: they are engaged in selling Wipac and the resulting balance sheet would make the maximum price that Concord have in mind look unrealistic...?

[remslie] 07/8/2018 09:58

Should read white knight

[remslie] 07/8/2018 09:53

There is another interpretation which is that Carclo have always had more viable acquirers than consort. When the bid came in they turned to a white night to bid and these negotiations are on going.
Their pension deficit is now going the right way and they are rebuilding their balance sheet
The game may not be over.....
Either way it does sound as if the company is on the turn if we can avoid a recession in the next 24 months and we are a long way off previous highs.
It is hard to believe if they wanted to extract shareholder value they would not seek out a stalking horse.

[queeny2] 07/8/2018 09:25

Initial thoughts:

As usual no statement from Carclo. This *should* mean that they are surprised by this morning's announcement, rather than simply incompetent or having nothing to say ("confident in independent future, always unsolicited and unnecessary approach, etc etc") but it's hard to tell with them.

IF they are surprised, I'm surprised, and have no idea what to think, except that discussions were not entirely amicable, Consort felt unreasonable in terms of give and take, CAR playing too much hardball on price/terms? This doesn't feel right to me though, unless the new Chair brought a whole new dynamic and relishes the job for the next few years, rare for a deal like this to just self-destruct like this.

The most gloomy interpretation for us is of course that they had a good look at the books and a week before they needed to ran away screaming shouting 'fire'.

In which case (or in either case really) we are back to what's it worth. After a month of eye off the ball and some exceptional costs.

The one thing I do not see is this deal back on.

[pugugly] 07/8/2018 09:06

What chance share price now drops back to the 80's? High (imo)

[nick rubens] 07/8/2018 08:48

It means carclo have to improve the business to get the share price value back, unless someone else wants to do it for them, but at what price takeover?

[1gw] 07/8/2018 08:36

Oh dear. That's not so good...

[1gw] 06/8/2018 21:31

Since 23rd July the only declared Carclo 8.3 activity I have seen, other than Dimensional picking up a few on 25th, has been Axxion buying.

As well as a few small purchases, Axxion bought 95,020 at £1.20 on 25th July, 93,297 at £1.18 on 26th, 77,075 at £1.187 on 31st and 22,925 at £1.185 on 31st.

So it appears Axxion was picking up pretty much any that were being sold and was happy to pay up to £1.20. It then appears not to have bought any on 1st, 2nd or 3rd August and the price fell back.

It will be interesting to see if it was Axxion again today or whether someone else is buying.

None of the other declared holders seems to have felt brave enough to buy in the last few days (before today), but equally none have declared selling. Wait and see seems to be the prevailing mood.

[beeezzz] 06/8/2018 21:19

I want at least 160p what is the score so far????

[9degrees] 06/8/2018 16:22

PUSU expires a week today unless extended . so action this week hopefully

[queeny2] 06/8/2018 15:45

Snap rivaldo

[queeny2] 06/8/2018 15:44

Must be going better now.

[rivaldo] 06/8/2018 15:44

...or on the other hand....

[gordongekko4] 06/8/2018 14:51

What is up with the share price weakness? Makes me think the negotiations between Carclo and Consort Medical can not be going too well...

[1gw] 04/8/2018 15:43

Another quiet week on the 8.3 front. Axxion continues to accumulate Carclo while Legal and General resumed selling down Consort, after the boost in its holding from the transfer in last week.

[gleach23] 31/7/2018 12:51

Welcome queeny2. Appreciate your contributions to recent discussion here which, as a relative novice, I have been reading with interest.

[queeny2] 31/7/2018 12:27

gleach23 thank you, unaccountably I missed that reading on my phone. That's good. If auto-selling to cover tax liability is completely standard, with complete precedent, then that's fine in an offer period, to NOT do it would be wrong.

[thechurch333] 31/7/2018 12:16

I see Axxion have bought more shares today

[thechurch333] 31/7/2018 11:55

Agree, very unusual. There may be something in the takeover code that allows him to sell to meet tax liabilities. Either that or the sale was pre-arranged and agreed by the board, so it has to go ahead. Don't think it tells us anything either way about bid talks.

[gleach23] 31/7/2018 11:40

The RNS states that the sale of 30k shares is to cover the attendant tax liability on the 64k PSP shares that vested. The net result is a actually an increase in his holding of 34k shares.

[queeny2] 31/7/2018 11:12

I'm being thick I think - what's this sale by CEO of 30k shares at 118?Extremely unusual, is there an explanation?

[thechurch333] 30/7/2018 11:12

Thanks 1gw