Coca-cola Hbc Share Discussion Threads

[soggy] 01/1/2008 12:46

I didn't receive the letter either - I'm in a TDWaterhouse nominee account. Thanks for posting the text of it. Really appreciated.

I agree with both posts above, positive in that it looks like they are not going to disappear and leave us with nothing, but also the negative sentiments that we still don't know the details and it is likely that we will end up with a small return.

As for a lot of people attending the EGM, what difference would it make? With the Nils holding 85% at the end of the day they will just vote through whatever they want, and that will undoubtedly mean whatever is best for the Nils brothers. (wouldn't you if you were them?)

Back to "wait and see" but at least we know that we've got something to wait for, other than complete oblivion.

Happy New Year to us all.

[moormoney] 31/12/2007 17:33

Thanks also from me--mine are in nominee holdings so I've not received any letters. When all the negotiations are completed the picture is looking much rosier with the co. debt free and presumably still trading well. I can't see any reason why shares should not resume trading eventually and we could possibly get over all this. The Nil bros were not good at communicating with shareholders and lost their Nomad etc--so they may be feeling somewhat bruised hence the talk of returning money to minority shareholders as they own circa 85% of the co. If they call an EGM to do this I would prefer they came back to market eventually and not cut my losses.

[comrog] 31/12/2007 16:57

Thanks for taking the time & trouble to reproduce Lionel

[lionelh] 31/12/2007 16:50

Sorry guys, I don't have a scanner but I'll try and type it in the 15 minutes I've got. I realise now I probably got it because my remaining stake is not in a nominee account like most.

"CCH International

News

Update on the Company

24th December 2007

It has been a while since I last wrote to you, and I therefore wish to provide you with an update on where we are with respect to the plans for your Company, prior to the end of the year.

On the 4th October 2007, I advised you that CCH International had concluded an Agreement with its principal bank (Bank) in relation to the repayment of funds owed to the bank over a three year period.

Pursuant to that Agreement, CCH International PLC had a primary obligation to repay US$50 million to the Bank. I am pleased to advise you that this obligation has since been discharged, and the Company is now debt free. The obligation to discharge the remaining debt over a 3 year period rests with CCH Europe GmbH.

The Agreement also required CCH International PLC to guarantee on its books a further obligation of CCH Europe GmbH, to the Bank, up to a maximum liability of US $100 million. Detailed negotiations are currently taking place, and your Bopard is hopeful of obtaining a release from the US $100 million guarantee in the very near future. Regrettably these complex negotiations have taken longer than anticipated, but I believe it will not be long before final agreements will be reached enabling your Company to producen a Circular and call an EGM.

This has been a very difficult year, and in the circumstances it is difficult to envisage a long term future for the Company. IT is therefore the intention of the Board to streamline the Group and realise the assets of the Company in order to maximise to the fullest extent possible the return to minority shareholders including a cash payment ti the shiort term.


Thanks for patience etc

[granules] 31/12/2007 14:14

Would also like to see the letter.

I live in deepest SW France and the post here is delivered by the onion seller

[confusedcoalboy] 31/12/2007 12:37

LionelH, I have not seen the letter, although the last one (dated 26th October) did not reach me either. If you could post the details on here that would be great...

[lionelh] 31/12/2007 12:04

This is a discussion forum yet nobody is discussing the letter from CCH dated 24th December in which it is gives quite a lot of information about the company's future course, including the fact that it has paid off all its debts and is in all probability going private. Does anybody want to discuss what this is likely to mean in terms of possible return to shareholders? Isn't this what all investors in CCH are concerned about? You never know, we might get a nice surprise. Thoughts anybody?

[granules] 30/12/2007 15:01

Soggy


Amen to that

[soggy] 30/12/2007 13:21

listen guys, I think we're in enough sh*te as it is without starting to fight among ourselves!

Happy New Year to ALL us gullible mugs, whether we bought in at the bottom, or (as in my case) at the top.

Peace and goodwill to all (with the possible exception of the Nil brothers and the wunch of bankers who pulled the plug on our successful business!)

[lionelh] 28/12/2007 16:04

Mrion. I don't know anybody, bankers and non bankers alike, who have seen anything like the current credit squeeze in modern times in a modern economy. That to me at least is the commom meaning of the word "unprecedented". If you can remember something like it, Mrion, remind us. There has certainly been nothing comparable that has affected the entire global economy (worst yet to come). I agree that banks should guard against the problems it can cause in its business model. Only one actually has (Morgan Stanley I think) and made an absolute killing hedging. They are the only one to my knowledge.

I did buy CCH at 3p and sold a tranche two years later at 90p so I have nowt to grumble at. Wish I'd sold the lot at 90p but life's not like that very often is it? Sold a larger tranche before at 25p which nobody could complain at.I do not agree that CCH have been in anyway dishonest. Naive and silly possibly. I cannot in all honesty say this was a bad investment for me even if I lose my remaining smallish stake! I wouldn't mind a few more like it! Exciting it certainly was!

What do investors in CCH make of the letter from CCH dated 24th December received today? CCH is apparently now debt free. Funds repayed to the bank has got to be good news. Another phrase does rather jump out though: "It is difficult to envisage a long term future for the company". That does no sound to me like they intend to continue trading, or, if they do, they will take it private without a listing (as now). The company wishes to "maximise the return to minority shareholders" which to me means the same thing. No future as a public company, private in the hands of major shareholders if it continues, with a payment to buy out investors. The only real question to me then is how much per share. An optimistic scenario to me is 5-10p per share but I do not think they have got that sort of money (last Annual Report EPS about 2p). Any other observations on the circular?

[moormoney] 27/12/2007 12:02

good luck for all holders in 2008- lets hope we salvage something from the crash!

[soggy] 22/12/2007 08:14

Mrionion - you're correct, that's why they got stuffed by the bank, but what I'm saying is that it might be because the bank was suffering from the jitters in the financial world caused by the sub-prime. Had there not been this credit crunch the bank might have just re-negotiated the loans with a bit of punishement in the terms.

CCH has lent out finance, and unless their clients have defaulted (spotting a wounded animal in CCH and taking advantage of it) there is persumably still an otherwise profitable revenue stream coming in to somewhere. Whether CCH can survive (or has already not survived) to be able to administer that business is what I, and I thik Confusedcoalboy, are hoping might give a bit of hope that SOMETHING, even a fraction, by way of value will still exist.

[confusedcoalboy] 21/12/2007 21:03

partially true mrob. However, I think the company is still trading (the evidence is that when I called up to ask what was going on, the CFO called me back within 10 mins). However, whether things are going as most of us would hope is another matter. I must say, I am not a complete pessimist. Obviously, it might be lost. But, there are plenty of others who have done a captain Oates in a similar situation, at least this lot are still answering the phones..

[lionelh] 21/12/2007 11:42

I've found it hard to understand what is actually happening with CCH and the lack of information is probably deliberate but unfortunate for us investors. I think the sale of the company - surely after taking legal advice- must have been a device to shelter the assets from the banks who wish to pull the rug in the current climate. I too do not know whether CCH is currently trading. The only way to understand this is by putting it in the context of a major unprecedented credit cruch where banks are hoarding cash in preference to lending it to one another never mind customers or businesses. If the device succeeds in preventing the banks' actions it may give CCH the breathing space it needs and give us some hope of recovering some of our investment stakes (where we will always be bottom of the pile unfortunately). One thing is for sure: if CCH folds the Bank of England will not be bailing it out as lender of last resort like Northern Rock! The basic problem in both has the same root - sub-prime lending in the US. I'm not altogether without hope here.

[confusedcoalboy] 20/12/2007 16:17

Soggy, I dunno. I guess if they mentioned it, it happened. When I called up to get the letter sent out, I was told that some news was in the offing, although I've heard that many times before..