Clarkson Share Discussion Threads

[a3477681] 25/4/2007 14:50

It seemed a wise precaution in view of the speed the price moves at and I had a nice profit since 761 so no complaints.
Edit: judging by the way shes rising today that may have been bad timing. Wonder whats driving it?

[woracle] 25/4/2007 14:46

I did that too today. Still in BMS though..

[a3477681] 25/4/2007 14:31

Now sold the rest of my holding for the moment. I have missed so many of these bounces after bad news. So will wait on the sidelines now...May approacheth. Good luck to all.

[nickcduk] 24/4/2007 19:38

Sandbank - I think the falls were overdone and we are unlikely to see below 800 any time soon. The court cases will take a long time to come to court and I wouldn't be suprised if they don't ever get that far. In the meantime focus will go back to trading conditions and should see a recovery in due course back to new highs if BDI stays around current levels. CKN is also the kind of business which private equity would love to get their hands on. If they were to bid I think 15 pounds+ isn't out of the question.

[ttjohnson] 24/4/2007 16:37

I'm out today @ £9.205, averaged buys @ £7.80. Will look to get back in once more becomes known about the libel cases. Taking most money off the table for now as May is fast approaching.

[sandbank] 24/4/2007 13:19

NICKCDUK: I admire your nerve in going in when clearly the price was still sliding. Well done! Was that 760 or thereabouts the bottom do you think?

[nickcduk] 24/4/2007 11:11

Im out at 887p today. I picked up more stock yesterday at 803p to add to my 780p stock on Friday, so Im more than happy with my return in such a short space. The market reaction was OTT to spurious Russian legal claims. I will look to enter again on any spikes lower as I like the medium term outlook with the BDI being as high as it is.

[the dog catcher] 24/4/2007 00:53

Thanks all, though I think some estimates of cash mentioned have are a bit high! After the 23m odd of bonuses and the divi cash probably fell to about 46m, however cash flow from the first quarter should have been excellent - take a look at a few bulk carriers like www.ds-norden.com or www.goldenocean.no...
Invested here for some time to come by the looks of things but hopefully results early in May from BMS, which some have mentioned, can help as my first choice. All be it smaller and hence less liquid but this sector is still humming!

[a3477681] 23/4/2007 12:59

Dog Catcher. Yes you are correct that the actions are in London, which is a relief. Apparently they involve third party commissions to offshore companies paid in connection with ship building contracts,and involve previous management at Sovcomflot to the highest level.The new management are trying to recover these payments with CKN caught in the middle. It could go on for a long time but the figures they had to post are the maximum and would hopefully be much lower in actuality.

[idioterna] 23/4/2007 12:07

Isn't that just the second case?

[bylow] 23/4/2007 12:07

Experience shows that the outcome of all litigation is uncertain and sometimes there are surprising twists and turns in the process from first instance decision in the High Court up to the Court of Appeal.The worst part is that it takes months, possibly several years for this to play out. Doesn't help that we know very little about the substantive issues in the claims.

[nomoney] 23/4/2007 11:55

FT article stated that case has been brought to London High court, not Russia which is good news

[d4vos] 23/4/2007 10:38

Any clarkson long termers check out Ambrian Capital to make back the short term losses....pure gem of a company tipped in I.C

[ianmckean] 23/4/2007 10:01

Thanks from me too for your excellent post West. I think the current price (801 ish) is an over-reaction. There may be buying opportunities at this or lower prices over the next month or so. I am resigned to sitting tight for as long as it takes to recover but it could be 6 months or so. But then I've held for 20 months or so I am mainly a long-term investor when it comes to CKN. It's just unfortunate that I had increased my position significantly in the last month or two.

[d4vos] 23/4/2007 09:55

Me too gorse.....this is a setback but the company has the cash to put this to bed...this year will be a bad one (worst case scenerio) but overall the future looks good...the quote price is now 8.25 more buyers to sellers at the moment...

[deadly] 23/4/2007 09:45

TDC you are right and this surely makes a big difference to the SBE case. At least we can expect less political inolvement.

[gorse] 23/4/2007 09:44

d4vos-"Be greedy when others are fearful"

I must be greedy. Just topped up around 800p.

[pec2004] 23/4/2007 09:43

I`m looking (hoping) to get in around 740p.

[d4vos] 23/4/2007 09:41

CLARKSON current situation suits some very famous words- BE GREEDY WHEN OTHERS ARE FEARFUL, FEARFUL WHEN OTHERS ARE GREEDY

[the dog catcher] 22/4/2007 23:11

Are the actions not in the High Court in London?

[a3477681] 22/4/2007 22:49

WCountryboy. Thanks for your excellent post. I did reluctantly sell out about half of my holding at 860; it would have been 903 if the online order had worked and/or my broker had got on with the job more quicky over the telephone from Spain.
I was in SBE, AIM quoted Oily in Russia, when that was suspended whilst legal issues and much else were sorted out. It has recovered and more than doubled in value since then but the legal case still rumbles on in the Russian and other courts over ownership of an oilfield. Here we have been told almost nothing about the issues involved and clarity in the early stages will be essential to clear the air and let shareholders understand what is really at stake and what the blunder was. Its good they have got the cash to pay up if they lose but would have been better seeing them use it to advance the business. I totally agree about the prospects looking good. Till now this has been an extremely well run company and with shipping being increasingly in demand they will continue to grow the business so this I think we can presume is an unfortunate glitch. I do have confidence that they will continue to trade well in the future but my fingers are crossed about how they will come out in the Russian courts. I hope they will reveal more details very shortly.

[westcountryboy] 22/4/2007 10:15

Yes, Braemar Seascape seems better value than ever!

[idioterna] 22/4/2007 10:13

I guess I overreacted a little yesterday... Feeling a bit sheepish now.. But I am worried by the litigation and it is not just the amount Clarkson is being sued for but also the costs of legal representation in Russia and the sums required to negotiate the juridicial process. I also feel that this type of action going on in the background is going to gnaw away at my confidence in the medium term. Having said that the long term effects should be small. Therefore I am going to maintain a long term holding but shift the medium and short term positions into Seascape. That way I still get exposure to the strength in BDI, but avoid the risk. I hope.

[idioterna] 22/4/2007 00:36

From my perspective this looks like a complete nightmare - both in terms of the damage the litigation could cause (and it most definitely will be maximised if pursued aggresively by sovcomflot on home territory), and the affect upon the short term share price action. I haven't even included the subsidiary ltitgation into my scenario, but I would expect a best case of 750p, worst case 450p.. I will reduce my holding above 750 and have no intention of taking a new position until the litigation situation is explained to my satisfaction. I have seen this before elsewhere and I am not going to get caught out again.