Carclo Share Discussion Threads

[rivaldo] 04/7/2019 07:44

Yep, relative to most recent CAR RNS's this appears to be good news overall...

- the banks are being supportive in deferring covenant tests
- Aerospace and Technical Plastics Divisions are performing slightly ahead of expectations
- takeover approaches for Wipac
- 8.7m euros received for Wipac tooling to pay off suppliers, debt etc

With Wipac incurring "significant" losses, the sooner this turnaround plan is implemented the better. If Wipac can be sold then all the better.

What a farce this has become - and I note the CFO has jumped. Even more amazingly, she's found a great new job at ABDP.

If Wipac can be disposed of, there may yet be a very profitable business to arise from the ashes.

[1gw] 04/7/2019 07:21

"a number of approaches from parties, both trade and financial, interested in the potential acquisition of Wipac"

That has to offer a glimmer of hope surely? Not just Duroc then.

[beeezzz] 03/7/2019 21:38

This company should be investigated, shareholders are being shafted as usual..

[gordongekko4] 18/6/2019 22:19

BEWARE of Carclo Plc’s Chairman MARK ROLLINS who is responsible for not only denying shareholders the takeover bid by Consort Medical but subsequently permanently destroying value by virtue of his passive and blissfully ignorant leadership. Mark Rollins has steered this group into inevitable insolvency. He is also the senior independent director of Tyman Plc - I hope the board there realises what a poor director he is and do not make the mistake to make him the successor to the current Chairman Martin Towers.

[buriedpantsbt] 18/6/2019 12:38

Hello you C0CKSUCKING NONCE ! Where's your other bummers ? Here's a tip for you, take that c0ck out your mouth before you speak next time you vile pikey CVNT :-) your a laughing stock

[beeezzz] 11/6/2019 22:47

Company should come to the market with a credible credible business plan, whatever they have been doing is not working or are concentrating in the wrong areas.

What has happened to the medical division where they invested millions in manufacturing facilities...

[charo] 11/6/2019 14:54

Not forgotten but do you know the cost of closing an auto plant for days or hours or possible delay of launch or product recall.
This can be in tens of millions.That is my concern especially if not contained in subsidiary entity.
The disruption can cause cash drain very quickly. The poor management demonstrated to date suggests the problem overcame them and now panic appointing consultants and temp restructuring execs.
I have no doubt that quick retrenchment and after a difficult rebuild sales circa £100 mill and pbt £7/8 mill are available.

[baner] 11/6/2019 14:33

charo

i think you forget that C should be making more than £12m EBIDTA from the two other units - not a bad support for the problematic Wipac unit.

[charo] 11/6/2019 09:47

Surely board should have announced appointment of fti to advise on restructuring.An acknowledgement that they had lost control of operations.Auto customers whether OEM or first tier are ruthless when comes to protecting themselves.
They rarely accept any responsibility for issues even when as a result of non measurable "non conformance" and continue to chase solutions to ridiculous lengths.Carlco management need to resolve these issues quickly before they are forced to administration to avoid insolvency.

[baner] 11/6/2019 09:10

without Wipac EPS would be 10p+. so could they get out of the middle market contract and then back to a profitable Wipac in addition to CTP and the aerospace business.........wow. that is, IF they could.

[kemche] 11/6/2019 08:58

The management strategy here seems to be to make it up as they go along.

[owenski] 06/6/2019 20:48

I posted this in January, it was still over 50p then.

owenski12 Jan '19 - 09:23 - 1117 of 1274 Edit

For me the interesting potential was some time back when they were involved with touch screens.

That turned out to be a dud and consumed a lot of time and energy.

The bargepole moment came when they axed the divi over pension funding obligations.

Until they reinstated the divi and thus showed healthy cash flow flowing back to investors, I simply wouldn't touch it.

Finally, being that at heart this is actually a contract manufacturer and they cant seem to do their core offering I'd argue there is some kind of systemic incompetency within the BoD at CAR and until they are replaced with some industry experienced players it remains a bargepole stock.

[bigtbigt] 06/6/2019 15:47

I think share price could be close to 10p by end of June

So fundraising could be nearer 5p

Can't see share price being much higher than 20p for a long time in the future, if ever

[gordongekko4] 06/6/2019 11:04

take your money and run. carclo plc will not be able to appease the banks by the end of June. capital increase a virtual certainty. 10-15 million needed. issued at 10p per share?

[meijiman] 05/6/2019 09:02

Yes that's more or less what happened..I recall some bandit at Carclo sold all his shares right at the top.

[poikka] 04/6/2019 16:44

Blimey, this dog still alive? Do I feel a pulse? Rivaldo still pushing it, I see.

Years ago, I said that they should flog LED, clear as much of their debt as poss. and big up TP. Nah, we'll just destroy the company altogether.

Lupo.

[gordongekko4] 04/6/2019 13:36

capital increase is coming. at least GBP 10 Million needed. what price will they issue the shares at? my guess is at 10p per share. massive dilution.

[queeny2] 03/6/2019 14:23

Indeed. Can't pass covenant, facilities expire in nine months, asking customers to help, dearie dearie

[boadicea] 03/6/2019 13:21

The more serious point is that the covenant test has been postponed tending to imply that it would not currently pass. They would then need a sufficiently plausible plan to enable renegotiation or an early time bolster for their balance sheet.

[ewanwhose] 03/6/2019 10:20

Wasn't expecting that. The RNS doesn't mention sale of part of the business or a fundraising as possibilities so it seems they think they can finance until Wipac is turned around.Interesting to see if Lakestreet or Duroc use this as a buying opportunity.

[boadicea] 03/6/2019 08:42

Clearly a major event is expected (or needed) in the next week or two.
Fund-raising?... or offer for all/part of the business?...
Crunch time is arriving and little to indicate how it will turn out except to say that in the absence of an offer from a willing buyer, preferably for Wipac, these things rarely if ever turn out to the advantage of pi's.