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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Clerkenwell | CRK | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 28.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 28.00 | 28.00 |
| Top Posts |
|---|
Posted at 03/12/2009 18:03 by hugepants CRK would be worth buying if you could be sure they will liquidate the company if they cant find an investment within the time limit. The alternative is they delist.I bought shares in a cash shell 3 years ago. They delisted 2 years ago and still have not made an acquistion. PS. OVG has effectively 8p net cash and a 4.25p share price. |
Posted at 28/8/2009 15:52 by jay083 Tipped by this lot. kicking myself, thought about buying in before it moved - just didn't want to be locked into such an illiquid share. hey ho...Clerkenwell Ventures - Buy at 21.5p Says exclusive small cap specialist website UKMicrocap.com Company Description Clerkenwell was admitted to AIM in October 2004 as a cash shell to acquire businesses in the leisure industry. Since then it has evaluated multiple opportunities but in recent years it has seen good businesses without a special need reluctant to crystallise value at prevailing levels and debt availability across the leisure industry substantially impacted by economic conditions. As a result, the company returned £26.79 million to shareholders in March 2009. Financials & Recent Trading Clerkenwell announced results for the six months ended 31 st March 2009 on 30 th June. These showed a pre-tax loss of £95,000 on no turnover, though £148,000 of this was a non-cash share based payments charge and stripping this out £230,000 of finance income compared with administrative expenses of £177,000. At period end the balance sheet showed net cash of £3.56 million and net current assets and net tangible assets of £3.20 million. In February a General Meeting of shareholders re-approved the company's investing strategy. In accordance with AIM rules this gives it 12 months to make an acquisition or otherwise implement its approved investing strategy otherwise the company will need to return to shareholders or return its funds to them and liquidate. Considering what we have said above and continuing adverse market conditions, we see the latter as the most likely occurrence though the company did note in the results statement that it had "continued to evaluate a number of businesses". Management Non-Executive Chairman David Page was involved with PizzaExpress for 27 years, including as both Chief Executive and Chairman. He co-founded AIM listed restaurant company Clapham House Group, where he is presently Executive Chairman. Non-Executive Director Paul Campbell is a long-term business partner of Page's having been Finance Director at PizzaExpress and since its formation in 2003, Chief Executive of Clapham House Group. He is a qualified Chartered accountant and also has leisure sector experience from Relaxion, which was a leisure management company with operations throughout the UK, where he was Chief Executive. *The value of investments can go down as well as up. Past performance is no guarantee of future success. Investing in equities can lose you part or all of your capital. The tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the recommendations contained here should seek independent advice. Smaller company shares usually suffer a wider bid offer spread the blue chips and can be illiquid and hard to sell and must therefore be deemed higher risk investments. Recommendation: This is a simple story. Page and Campbell are sensible men and we believe they will only do a deal as true vultures. Having been patient and walked away from many a transaction over the past few years and both been buyers of shares since early March (owning 4.35% and 4.91% of the equity respectively), we simply don't believe this management will squander the cash they have remaining. The £26.79 million Page and Campbell have already returned to shareholders shows that if they can't find what they believe to be compelling value, they will simply give the cash back. There are presently 8,344,688 shares in issue and £3.2 million equates to 38p per share. Outstanding share options are exercisable at 54p so shouldn't represent an issue, though on the business being wound down we would see some costs being incurred related to this process. However, the current share price of 21.5p leaves clear upside. In short, we see a low-risk gain in 6 months or a higher-risk gain further down the line on Page and Campbell pulling a deal off. At 21.5p, the stance is BUY. Key Data EPIC: CRK Market: AIM Spread: 20p 23p (13%) |
Posted at 19/1/2009 17:31 by gilston Your calculation seems to value the package at around 37p. when the market currently values it at 33p. What you are getting in 2 months is only 32.1p cash & the balance in shares. So you seem to value those shares at 4.9p [ before consolidation] which to my mind, with little or no dividend, is a premium on this management team`s ability to perform & to raise fresh finance without dilution in a reasonably short space of time. I think that judgment is where we differ.But that is what makes a market! I have accepted a 5.8% discount [the bid/offer spread]on the current market price to realise cash, which I have now just received & will invest elsewhere. The spread today is 10% with a reduction in the bid price. |
Posted at 08/12/2008 21:21 by nickcduk Have to find a business to reverse into within 12 months or else you have to de-list. Those 12 months were up for CRK in February. Obviously didn't think they would find anything before then. |
Posted at 23/10/2008 14:53 by currypasty does anyone know where crk have their cash, and how safe it is ? |
Posted at 21/7/2008 17:09 by gilston CRK`s stated strategy is to seek ..." to acquire leisure businesses."Last year the company spent £156,000 in abortive costs relating to possible acquisitions, which included an on line travel company. They have also previously looked at hotels. |
Posted at 18/7/2008 16:04 by nickcduk CRK is effectively a cash shell looking for investments in the restaurant sector. The likes of CARL have had a very good couple of days. Perhaps a deal isn't far off and we will get some news on Monday but I won't be holding my breath. |
Posted at 08/7/2008 12:31 by nickcduk I think CRK have pretty much stated what the position is at present.'Following shareholders' approval for the Company to continue its stated acquisition strategy at the Company's AGM on 30 April 2008, we have continued to evaluate a number of businesses which could be reversed into the Company. We are continuing discussions with several parties and will update the market when appropriate.' I think that pretty much sums up what they are doing. We just have to wait for them to do a deal. I realise that there are shareholders who have been waiting a long time for CRK to do a deal and who are likely to be nursing losses. I can understand why some of you might be frustrated at progress. Im a relative newcomer having picked up my shares at below 25p last year so don't nurse the same grievances. Im happy enough for them to take their time and pick a decent reversal. If they don't find one by next year then they will have to return the 35p cash. Its a win-win situation in my eyes. |
Posted at 08/7/2008 10:52 by nickcduk Not at all worried about price movements in CRK until they find an acquisition target. When they do the share price will respond sharply. Those who are complaining about the board dragging their heels should be grateful that they didn't make an acquisition when valuations were much higher. Now we will be in an ideal position to snap up a bargain at the bottom of the cycle rather than the top. In the meantime the cash pile and NAV grows. |
Posted at 17/2/2008 11:13 by moob i believe this is what crk wanted and failed to buy.The trendy chain of pool halls, The Elbow Room, has been sold to Inc Group, a restaurant company with several venues at the O2 Arena in Greenwich, east London. Terms of the deal are not being disclosed. |
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