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 17751 to 17775 of 18200 messages
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DateSubjectAuthorDiscuss
24/7/2018
09:06
Biggest risk for me is that Consort are limited in what they can offer. I don't like all-share offers as the price paid depends upon bidder's share price. Consorts has been dropping since the bid announcement suggesting some possible resistance to the deal? What would happen to Carclo's share price if Consort suddenly announced they were terminating discussions? That is the real risk...
kiwihope
23/7/2018
21:03
We're all clustered in the same place I think. Finding an adventurous counter bidder for whole thing tough, Really tough. With two larger more sophisticated companies I could invent all sorts of possible scenarios, but not so much here. I like the questioning whether early extension is bullish rather than early white flag. Nice thought. Will think on it. In my dreams Car and CSRT put led up for auction and Consort pay a fair price for CTP and that gets us to 200p, in my dreams.
queeny2
23/7/2018
20:38
I think I'm in a similar place. I can't see how Carclo could save face opening talks on the basis of an offer within 10% of the 116p they rejected out of hand, so I would expect Consort to have (indicatively) offered at least around 130p to get access to data and cooperation in evaluating the data. If negotiations and discovery don't throw up any roadblocks then there's the chance of a further move up to secure a recommendation as we near the PUSU deadline. But to get to the 150p+ I think we all think could ultimately be justified (by Consort to its shareholders), it needs some competition, or a really credible defence position such as an offer on the table for Wipac. I'm not sure I can see the logic in another company bidding for the whole of Carclo before Consort get to PUSU - most likely I think anyone thinking of bidding would wait to see if Consort and Carclo can reach agreement and if so at what price before they disclose their own hand. So Carclo, hopefully making use of a really good advisor, has to drum up as much interest as possible before agreeing to recommend Consort in the hope that someone then follows through with a counter-bid after Consort announce a recommended bid. So I suppose I'm looking at a most-likely case of a recommended offer around 130p or maybe slightly higher. You may be right queeny that on a probabilistic basis the expected outcome isn't much higher than it was before today, but deterministically it feels to me like we moved forward quite a long way with today's news and I remain surprised that the price didn't move further.
1gw
23/7/2018
17:49
I also added a few today. My observation is that it is early to ask for an extension to the PUSU as they still have a week to negotiate. Look at the IWG situation currently as an example where these things normally go down to the wire before an extension is requested. On balance I think it is bullish as it buys Carclo an extra 2 weeks to find alternative buyers. Consort most definitely want it and Carclo management have today indicated they know the game is up for them. I therefore think downside is limited. The most likely outcome is a bit higher than this (125-130p?), with a chance of decent upside in an auction (150p+).
thechurch333
23/7/2018
13:46
Undisturbed price 80p, stock has traded ten year low this year. I'm not sure when I've seen a bidder pay 100% premium unless either the defence is strong and plausible or a counter bidder emerges.
queeny2
23/7/2018
13:34
Managed to get 10k shares for between 117/18. Targeting minimum 1.50.
brucie5
23/7/2018
13:19
1gw so let's try and imagine what would need to be the case for a broadly unchanged share price to be correct price action .... My best shot is that while the news has removed downside it has also removed upside? In that scenario CSRT being compelled to go hostile produces a higher price, both in and of itself and also because it suggests a better defence is available to carclo.Whereas now we are likely on a tedious path to an agreed offer at an unexciting price so long as the execs at carclo are looked after. The power of CSRT's ballsy attitude has caused the white flag to go up very quickly.It's plausible? Under what scenario can you now dream of even 1x sales, a silly cheap multiple which is in fact 150p.So we all have to revise our probabilities attached to the varying outcomes, the net effect of which is small on how much the price should move on the news.
queeny2
23/7/2018
13:11
Not according to disclosed volume no :)
queeny2
23/7/2018
13:00
I've bought some more, this time below 116p. It seems crazy. Axxion's 8.3 shows they bought 100k at 115p on Friday and yet today, with news that car and csrt are talking around a revised proposal the share price can't seem to hold above the original number. Has someone left a big sell order in place without adjusting price expectations this morning?
1gw
23/7/2018
09:50
1gw I could not agree more, 105-115 at IG at the moment, wrong. But I can't get any inside that quote and am furious at having to pay the offer. oh well. others probably feeling same hence limited rise. Thinking about what can go wrong from here: 1 they still don't agree on price resulting in no deal - surely small possibility given that the new price/terms named have been sufficient to grant discussions 2 CSRT find something in CTP not quite right - given the two profit warnings and specifically the language of the second this is not impossible, but again given the final results ..... 3 CSRT find they can't shift LED at what they are being expected to pay for it. hmmm. Thinking about why price not higher: Three weeks to go, bags of time?
queeny2
23/7/2018
08:45
I struggle to see why the share price hasn't gone up more on that announcement. I have managed to pick up a good chunk there at only just over the original mooted price of 116p. Clearly plenty of uncertainty but the fact that Carclo are talking suggests the number must be well over that Doesn't it?
1gw
23/7/2018
07:36
Yep - a revised offer from Consort received on 13th July, PUSU deadline extension to 13th August....looks like discussions are getting serious.
rivaldo
23/7/2018
07:06
Now that is an encouraging rns!
1gw
21/7/2018
17:39
Thanks 1gw good of you to do this stuff so we don't have to :)CSRT share price is ok. Obv we'd prefer up 5% and the thinness does concern me when arbs actually start hedging an actual bid, but a few partial hedgers in quiet market have pushed it down over 5% - it is what it is.
queeny2
21/7/2018
17:05
Thanks 1gw. My main concern here is the Consort share price, which has taken a tumble since the bid was announced. It would suggest some discontent from their shareholders and makes an increased all share offer more difficult to execute and succeed. They are going to need to give some numbers for cost savings/revenue synergies but will need to pitch the numbers correctly to simultaneously look like a good deal for both sets of shareholders. My rule of thumb, which has served me pretty well over the years is that you should double the first number a company gives for synergies as the eventual outcome. I actually think they can more than double Carclo profitability if revenue synergies are included and can therefore pay a lot more than they have offered so far, but we are only going to get there with a viable alternative proposal from Carclo.
thechurch333
21/7/2018
15:40
Another very quiet week on the 8.3 front. Certainly no evidence that I can see of any of the Consort shareholders trying to arbitrage by selling CSRT and buying CAR. On the Carclo side, biggest changes came from River & Mercantile which sold around 82,000 and Axxion which bought around 49,000 to add to their purchases declared in the previous week, but haven't notified a further change since 13th July (declared on 16th). On the Consort side, the biggest changes were from Legal & General which sold around 94,000, Kempen Capital which sold around 53,000 and Polar Capital which bought around 97,000. It remains to be seen who was buying and selling Carclo yesterday, when volume was relatively high.
1gw
20/7/2018
13:53
New recent highs now - up 9p today to 117p mid-price.
rivaldo
19/7/2018
11:14
Pusu = put up or shut up, in this case the weekend in ten days time.
queeny2
19/7/2018
11:12
Imho only from the lack of developments so far and the amusingly minimal agm update. The two sides are not engaging Carclo cannot and will not enter a room with csrt until a price is named that they could begin to think about recommending, perhaps subject to limited due dil CSRT will not bid against itself until it has to As things stand it goes one of three ways for next step. - csrt walk away - csrt raise the bear hug this week - csrt launch a bid towards end of pusu period The more I think about it, and looking at the advisers of csrt, the more I believe they wouldn't have done what they've done without being ready and able to go route 3. The unknown is what car have been doing in defence preparation, let us pray that for once they are pulling out the stops and being professional.
queeny2
19/7/2018
10:42
Seems the Bod believes its best defence at the moment is to stay silent and stick to the plan. Either because they don't have anything better to say, or because they want to keep their powder dry. Made me chuckle anyway. cheers
illiswilgig
19/7/2018
08:30
I would not expect to hear anything more from them yet on the Consort bid. Good to see Consort shares attempting a rally this morning.
thechurch333
19/7/2018
08:25
But completely silent on the matter at the front of most shareholders' minds (I would have thought). Have they engaged with Consort? Are they still refusing to engage? Can they not at least mention work they're doing to prepare a defence document should Consort announce it's intention to table a hostile offer when the current phony war comes to an end on 30th July?
1gw
19/7/2018
07:38
Today's rather encouraging trading update should only add to CAR's appeal for Consort and other potential bidders. For the record, expectations are for 11.4p EPS this year, rising to 12.5p EPS next year: Https://www.investegate.co.uk/carclo-plc--car-/rns/agm-trading-update/201807190700030871V/ "Trading to date in the current financial year has been in line with the Board's expectations. Progress in securing new Automotive lighting and medical development contracts within LED Technologies and Technical Plastics has been good and is in line with our planned timescales. The implementation of our operational improvement plans is well underway and encouraging progress has been made."
rivaldo
14/7/2018
00:34
1gw - No, that's one Stephen Guy Hill OBE (sources: beta.companieshouse.gov.uk and Google) My own thinking is that this SNH can't be in a concert party with Consort, no pun intended, as it would have had to have been declared. So he must have bought either in hope of an improved offer, or to resist offers and hang in there on fundamental grounds. Presumably he sees a win/win situation.
pldazzle
13/7/2018
17:25
By my reckoning we now know 31 shareholders holding 86% of Consort, and 14 shareholders holding 66% of Carclo. Not a lot of activity disclosed this week, although more than last week: on the Carclo side mainly steady buying by Axxion (disclosed this week, for buying on 2nd, 6th, 9th, 11th) and on the Consort side only really one big purchase - of 100k shares by Polar Capital on 10th July - matched more-or-less and on the same day by sales by Wellington (70k) and Schroders (20k).
1gw
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