Carclo Share Discussion Threads

[beeezzz] 13/8/2019 21:27

Are they still suspended...?

[currypasty] 12/8/2019 11:05

"During the course of preparing the financial results for the year ended 31 March 2019 the Board has become aware that the value of the Company's net assets is now less than half of its called-up share capital ("a serious loss of capital"). "

[beeezzz] 07/8/2019 21:59

I was looking at an old favourite of mine Plastic logic who are still going and into RFT's plastic electronics... Eight18 don't seem to be making great strides either.

Carclo should have looked at salvaging something from all that investment, just gave up on it..

[meijiman] 02/8/2019 12:52

A textbook example of mug management..but not the one who sold all his when the price was at an all time high.

[reddevils1] 02/8/2019 12:37

Not sure anyone should be surprised. The amount of money wasted on the bendable screen technology - all down the drain; now they are trying to sell a business that has never made any money - all jam tomorrow.....; and a great time in the cycle to sell eh?

[beeezzz] 01/8/2019 21:05

I'd be surprised if there has been any interest in wipac, management is totally incompetent..

[1gw] 01/8/2019 07:34

Suspension, as expected.

[1gw] 31/7/2019 21:44

It could be that Carclo is pursuing potential purchasers rather than the other way round though.

[1gw] 31/7/2019 21:38

"In the meantime, discussions are actively being pursued with potential purchasers for Wipac."

from 22nd July RNS.

[beeezzz] 31/7/2019 21:30

Has there been any parties showing interest in buying Wipac... or is this all speculation..

[eezymunny] 31/7/2019 17:02

Tangible book at Wipac was c. £19.5m at 31/3/18. Less now with ongoing losses? No debt at that time. Most of the property in Wipac pledged as security for pension scheme.



We can only guess the outcome. Post 1325 sums things up very well IMVHO.

[davvek] 31/7/2019 15:52

is there any debt in wipac though? Carclo EV is about 60-65.

[currypasty] 31/7/2019 13:27

cant see 15-20m for wipac myself.. car mcap only £7m and wipac is the dog, loss making, walked away from big sales inc vag, and sold tooling!

[1gw] 31/7/2019 13:19

I suppose the risk is that they can't sell wipac. But allowing hope to triumph over experience once again with this company, I've bought some more. Certainly brings the average purchase price down.

Duroc must be smarting over their current paper loss and I wonder if they might really want to get their hands on a part of the business to see if they can turn it round. Would there be any serious competition for the asset though?

[dangersimpson2] 31/7/2019 10:01

Depends how much they get for wipac and what debt levels remain after its disposal. wipac had net assets of £38.4m on 30 September 2018, which we have to assume are impaired somewhat given the recent trading performance. We also don't know how much of that is goodwill. Getting £15-20m for wipac would be a result IMO despite the discount to asset value.

So it will be more like an EV of £27m vs £5m profit. Still cheap but not as exceptional.

Given the size of the debt, the equity behaves like an option though. So if they get more for wipac then that effectively goes straight to the equity value, if they get less then that comes off the equity. Of course, the equity value is bounded at zero, and they have a year to sort it all out.

These option like characteristics make this an interesting situation that will be very rewarding if they can sell wipac and rationlise the rest of the business, release working capital etc. but it should be sized as something that could also have the total downside of options should there be further issues.

[spudders] 31/7/2019 07:39

Beez, lth’s with big losses 😩

[mikec365] 31/7/2019 07:37

If they sell Wipac what will be left is a business that turns over around £100m and makes around £5m profit, with a market cap of £7m!

[beeezzz] 30/7/2019 21:19

So what will be left at the end?

[currypasty] 30/7/2019 09:04

carclo mcap now only £7m so what are they going to sell wipac for as a fire sale.. could be only a couple of million if that. It sounds like after pulling out of contracts and selling tooling there isn't much of a business left in wipac.. such a shame!


Suspension from stock market looks odds on now at close tomorrow night

[baner] 30/7/2019 08:39

there could be sellers panicking due to a suspension now expected.

[sbb1x] 30/7/2019 08:38

Bidding at 9p

[baner] 30/7/2019 08:08

the good news is they have 18 months to further sort this out now. if wipac is sold at say 15m, the financial situation will be really sound again, and the group clearly profitable. a suspension is not that serious - better they focus on completing the sale of wipac than meeting the time schedule short term. my impression is the chairman is doing an excellent job gaining momentum and hopefully sorting the wipac-disaster, for which he is not to blame, out. the CTP business should be worth 80-100m and aerospace 7-10m so lot of values to be realised in an orderly manner, now that they have reached an agreement with the pension trust as well as the bank.

[1gw] 30/7/2019 07:21

So now suspension looms? Hopefully a short one, but what a shambles.

[beeezzz] 29/7/2019 22:35

The smell is overpowering....what a stinker/..