Carlton Res. Share Discussion Threads

[ppowerscourt] 02/5/2008 10:38

Issuing such an update would push current price higher hopefully, then CBM will have to offer 1cbm for 2cln. Agree bubface, -bullish-.

[bubface] 02/5/2008 09:54

and this operational update would have to be approved by the board and the board majority are cbm executives....that'll be bullish then!

[captain kurt] 02/5/2008 09:54

Tamtoni...CLN do not need to issue more shares imo

[tamtoni] 02/5/2008 09:47

Turn it round the other way - What can the sole independent director of CLN do?
How does he bring in a white knight? If he asks for bids for the company from other interested parties then most (if not all) will not bother because they would be competing against a 47% (after exercise of warrants/converts) shareholder. They would be wasting their time.
CLN cannot issue more shares without CBM's approval. The NED is stymied.

The better the bargain CBM achieve, the more annoyed the CLN institutional shareholders will be - but conversely they will receive begrudging respect for their strategy which may help convince them to take CBM paper to benefit from the discount and further astute management actions. Current CBM shareholders will of course applaud the hard line taken and (along with some new shareholders) buy more shares - with obvious effect.

[lefrene] 02/5/2008 09:13

"we might get an operational update". I find this witholding of information counter to shareholders interests, why should one holder have more information than any other? It feels like CBM are brow beating CLN into a cheap deal, and then will railroad it through before other shareholders have a chance to grasp all the facts.

[captain kurt] 02/5/2008 08:56

Thanks reghollis.

If CBM don't want to pay a fair price for CLN, then we should go it alone.
In the present coal environment and the amount of profit this company will make in 2009, only 7 months away, the share price will be worth in excess of £1.00 imo

Lets have the operational update

[reghollis] 02/5/2008 08:17

I've been intouch with CLN and we might get an operational update soon as the haggling over the price seems to be taking longer than expected.


'I will however discuss with the advisors whether we can do an update which may be a bit limited in some areas but atleast bringing things more uptodate.'

[sportbilly1976] 01/5/2008 23:13

lefrene,

here here.....

[lefrene] 01/5/2008 14:41

Would someone in CBM hurry up and blink, this mexican stand off has become very boring.

[reghollis] 01/5/2008 13:17

The amounts UBS are able to get hold of seem to be getting smaller & smaller. No sellers at this price.

[lefrene] 01/5/2008 13:11

Once again the holders keep waiting.

[captain kurt] 01/5/2008 09:41

Once again UBS keep adding. Another 40k yesterday

[bubface] 30/4/2008 16:14

totally agree papillon...they've had 4 months.this is creating uncertainty in the market and is no doubt consuming much of our only executive and independent directors time rather than running the business for the benefit of ALL shareholders.

[lefrene] 30/4/2008 16:04

Skullduggery of a self rewarding kind probably papillon.

[papillon] 30/4/2008 15:49

Tired of waiting. The CBM Directors know CLN inside out so why the wait? They must know what its worth. Come on make an offer.

[grippa] 30/4/2008 07:35

Could it be that UBS are picking up shares for CBM?

[nigelsom] 29/4/2008 23:33

CK - odd, that: no sign of the 120k trade on advfn, but it does show up on "an advfn competitor" (I daresay you know who!) Price is shown as 39.5p....a sell, then? Not that it really matters, mind, as CBM have a stated intention of taking CLN fully in house. Just a question of settling a price (and they'll have to offer me enough).

[captain kurt] 29/4/2008 22:02

120k buy reported after hours

[bubface] 29/4/2008 18:58

papillon,i agree re cbm they could have done without two sellers depressing things but i'm sure they had their reasons.i think ubs are being quite though on terms with cbm and backing that up with their market activity.i think we are on the home leg of talks and it still remains between 1 for 3 or 2 for 5 as far as i can see...come on ubs&co haggle!

[papillon] 29/4/2008 18:34

Cheers bubface. I think the selling by RAB and APF into CBM strength has held back the CBM sp, Perhaps they will offer 2 CBM for every 5 CLN.

[bubface] 29/4/2008 18:17

come on papillon only kidding,but the big discount to it's wtn stake alone has dwindled.i just think cbm hoped their shares would increase when wtn were higher so they would have higher relative currency and it seems to be going the wrong way.

[papillon] 29/4/2008 18:00

Well bubface CBM will have 87m shares in WTN after conversion which is still worth at least £175m. The Mkt Cap of CBM is currently circa £142m. Given a bit of that £175m for CGT I'd still say the Mkt Cap of CBM is approximately equal to its stake in WTN. The other interests, CLN, EBG, AGD, XTR are valued at zero by the Mkt to judge by CBM share price Of course the WTN share price could go lower but I think £2 is the short term floor. WTN is declining on very low volume. The volume today in CLN is miniscule.

[bubface] 29/4/2008 17:38

well it looks like cbm need to get on with it,all the talk of how cheap cbm are because of wtn and the huge discount to what they're really worth and wtn go easier every day.is wtn the cheap way into wtn now!!!???

[papillon] 29/4/2008 17:31

I wonder if that tick up near the close indicates we are near the end point?

[papillon] 29/4/2008 17:29

Luck of the draw lefrene I'm afraid. I agree with Capt Kurt. The CLN offer for CBM will be announced before any corporate action on WTN. Both CBM and WTN have had enquires in the past but there has been no indication that they have had anybody say they definitely want to bid, for either CBM's stake or the whole of WTN. Until CBM or WTN issue an RNS stating they have had a bid, or are holding bid talks, your assertion that WTN share price is declining because CBM might have had a bid for their WTN stake below current WTN share price just doesn't hold water. The WTN share price is declining on the TSE on small volume; small sellers, probably conserving their profits, but as yet no big buyers. Big institutional buying in WTN seems to have dried up for the time being. Whereas any small selling in CLN seems to be soaked up by UBS.