Cake Box Share Discussion Threads

[blackbear] 21/2/2007 19:41

Anyone know what court the hearing was supposed to be held in.

[theband] 21/2/2007 16:20

Blimey, Carl Thomas found guilty and sentenced to death, thats a bit strong.

[theband] 21/2/2007 16:17

Quite a few buys today @ 19p, am tempted to get back in.( almost )

[blackbear] 20/2/2007 15:47

Has anyone managed to get more information regarding the hearing due tomorrow.

Bb.



Cashbox unit, CEO Carl Thomas handed summary judgment in Hanco litigation


LONDON (AFX) - ATM operator Cashbox PLC confirmed today that on Nov 29 2006,
summary judgment was handed down against Carl Thomas, the company's CEO, and
Cashbox ATM Systems Ltd ("ATM") relating to certain claims forming part of the
ongoing litigation between Hanco and ATM and an interim award application has
been made by Hanco.
Summary judgment is handed down where the court believes that the defendant
is unlikely to be successful in defending a claim.
In reaction to recent press comment regarding the ongoing litigation, the
company said ATM and Carl Thomas intend to appeal the summary judgment and will
vigorously defend the interim award application.
The next hearing on the case is currently expected on Feb 21.
Cashbox was set up by former Hanco executives in 2003.

[ron manager] 14/2/2007 16:34

let's hope Carl Thomas got a 'soap on a rope' last Christmas as it could be his most useful present to date.

[prmoldoaks] 14/2/2007 14:22

and the 500,000 buy at 25p

[prmoldoaks] 14/2/2007 11:16

V1deoman

Charts are fine, but Cashbox locations are totally different to Paypoint and the PE/valuation of Cashpoint reflects this in the share price.

If you are considering sector like for like then this could suggest a higher PE for Cashbox and a higher share price, hence the heady rise when interest is shown in a buy out.

[nickcduk] 14/2/2007 09:00

Anyone notice the 300k sell go through at 10p this AM. Certainly kicked the shares hard.

[v1deoman2] 14/2/2007 08:43

prmoldoaks - pass your eye over this web link, CBOX seem to be quite far down in the chart - page 12! So your view on profitable is interesting as they must be super efficient. I'm out on this one.

[ron manager] 14/2/2007 08:08

Further coverage in today's Daily Telegraph. It would appear that this company is run by an allegedly untrustworthy management team who clearly have ramped their own shareprice for their own benefit in the hope that someone would be stupid enough to buy them. So far no-one has and for the Cashbox pretenders the game is now up as the market now sees their true colours. This is just the type of Company that gives the AIM market a bad name and should delisted.


The saga surrounding takeover target Cashbox continued with the ATM company tumbling 6 to 21½p after saying that, following various transactions, its chief executive Carl Thomas now owns 6.91pc of the company.

It said he has been "suspended from his duties" as the board investigates "the circumstances surrounding these trades". At October 31, he held 8.9pc of the company.

Separately, earlier this month, Cashbox said Mr Thomas is "vigorously" defending a claim made against him by cash machine business Hanco.

[lomaximus] 13/2/2007 21:23

i agree with prmoldoaks i sold my take on friday when read the rumours but im stepping right back in after this has blown over!

[prmoldoaks] 13/2/2007 19:40

Whats the big deal???? he only sold £90,000 worth by the time he pays tax he clears £60k, hardly worth getting caught for ????

I think the timing was just SH*T

He still holds over 4 million shares in the company so he has far more to loose than us, if he hqad dumped a major holding then I could beleive there was more to it than stupidity or bad timing.

If a bidder is factual its a buying opp, the machines they place are very efficient and profitable, nothing has really changed with medium term potential, still a good take over target, some competitors would like to get a hold of thier efficencies beleive you me.

The business has got value and its probably fairly priced at arond 18 - 20p, and this market is consolidating (aggresively) so this may be the drop the so called bidder needs to pitch thier takeover.

£2M lawsuit pending, one off.

[douglas sturtscobie] 13/2/2007 17:38

Sell before it's too late

[charlie] 13/2/2007 15:57

Nice call Blackbear.

[nickcduk] 13/2/2007 15:55

I wouldnt be suprised if the stock is suspended pending the court case on the 21st February.

[blackbear] 13/2/2007 15:53

Cashbox suspends CEO Carl Thomas; to investigate share trades





LONDON (AFX) - Cash machine operator Cashbox PLC said it has suspended its
chief executive, Carl Thomas, pending an investigation into share trades he
carried out in January and early February.

[nickcduk] 13/2/2007 15:46

I notice an adverse judgement was made against the CEO on the 8th Feb. It is feasible that he was selling stock aggressively in January and February to cover personally the costs and interim award. He is personally liable according to the AIM introduction RNS. The case is back in court on the 21st and it could be that the company itself is under threat if the award is large enough. It might be worth getting hold of the court decision to see exactly what is at stake.

[nickcduk] 13/2/2007 15:31

Judging by the antics of the CEO Im inclined to agree with your view. Short 20k at 25p. He looks like he has engineered a pump and dump with his news on takeover talks. I wouldnt be suprised if they didnt exist at all.

[blackbear] 13/2/2007 15:17

The downside.

This must be a golden opportunity to make some money on the down side of this stock, litigation is coming against it to the tune of "500,000
Cash has already hit zero used from the placing, shareholder funds are still negative, they do have some undrawn debt facility but who knows what conditions are set on this, the company is still loss making and they had made no indications of when this will turn profitable.

The upside.
Management put word of a bid approach to the market, well i think this is very unlikely under the circumstances, the balance sheet, the litigation and to be honest the ATM sites are second rate verses the companys claims, no peer requires these sites.

The charts.


Gone short even more today. imho DYOR.

Blackbear.

[papalpower] 13/2/2007 15:13

Oh dear.........


Cashbox PLC
13 February 2007


Cashbox plc ('Cashbox' or the 'Company')

Director Shareholding

The Board of Cashbox was notified yesterday of the following transactions by
Carl Thomas in the ordinary shares of the Company:

Date Aggregate number Aggregate number Average price
of shares bought of shares sold dealt at
03/01/07 34,662 55,000 25p
04/01/07 5,000 70,000 24p
05/01/07 25,000 50,000 23p
08/01/07 42,972 104,349 23p
09/01/07 2,957 60,475 23.5p
10/01/07 0 7,000 24p
11/01/07 0 40,000 25p
12/01/07 0 90,575 24p
15/01/07 0 104,836 23p
16/01/07 41,071 78,583 23p
19/01/07 41,232 22,887 20.5p
23/01/07 0 72,111 18p
24/01/07 0 64,486 20p
25/01/07 0 68,234 22p
26/01/07 110,000 143,795 21p
29/01/07 0 94,752 20p
01/02/07 0 71,256 24p
05/02/07 0 38,750 33p
06/02/07 0 156,892 31.5p
08/02/07 0 127,492 27p

Following these transactions Carl Thomas now holds 4,241,421 ordinary shares in
Cashbox plc, which represents 6.91% of the issued share capital.

The Board of Cashbox is investigating the circumstances surrounding these trades and in the meantime Carl Thomas has been suspended from his duties as a director of Cashbox plc.

[blackbear] 12/2/2007 14:45

Cashbox facing £2m damages claim from Hanco
Independent ATM operator Cashbox has been hit with a £2 million damages claim from Hanco, a cash machine vendor owned by the Royal Bank of Scotland, according to a Financial Times report.

Cashbox was set up in September 2003 by Carl Thomas - a former sales director at ATM firm Hanco which was acquired by Royal Bank of Scotland in 2004 - and his brother Matt. The firm floated on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) last year.

Cashbox said last week that it had received an early stage bid approach that could lead to an offer for the business.

According to the FT report Hanco launched proceedings three years ago against Cashbox and Carl Thomas.

The report, which cites Cashbox's prospectus, says the firm is warning of "significant claims" from Hanco, including an allegation that Thomas "diverted a business opportunity from Hanco to Cashbox, namely a contract for the installation of ATMs with Thresher Group".

A summary judgment in Hanco's favour was handed down by the Masters' Chancery Division last November. The courts ruled that Hanco is entitled to summary judgment on liability against Thomas in respect of breach of contract and breach of fiduciary duty, says the FT, as well as against Cashbox in respect of its assistance in bidding for a contract to supply cash machines to Threshers.

Thomas and the company are appealing against the judgment.

Hanco is seeking damages of £2m and is also claiming costs thought to be more than £1m, says the FT.

The case will be heard in the High Court on 21 February 2007.





Is this company viable if the ruling isn't in their favor?

[littlereec] 10/2/2007 09:47

in my opinion the only reason the price is hovering is the chance of the whole thing being bought by someone else - otherwise loosing the money, even if the first £1.5m is indemnified should murder the share price
Here is a thought for all the conspiracy theorists out there - RBS/Hanco dont want money they want the business at a seriously knocked down price?

[v1deoman2] 10/2/2007 09:02

Does anyone belive this price will drop because or recent press announcements?

Surely this is bad news!

[Abuse team] 08/2/2007 11:23

Post removed by ADVFN