Clipper Ventures Share Discussion Threads

[joan of arc] 29/1/2007 21:17

Sorry I can't help but I noticed that too.

[pat dunk] 29/1/2007 14:45

does anyone have any idea as to what is going on, there have been two big trades recently, one of 500,000 and one of 371,000 and it hasn't moved the price at all?

[tyranosaurus] 23/1/2007 19:00

The long term chart suggests 15p is quite possible.

[strutt12] 23/1/2007 10:16

You will soon

[tyranosaurus] 23/1/2007 08:34

Placing at 15p as I predicted.
I would have bought more at 15p but was never given the chance.

[pat dunk] 22/1/2007 21:26

I have my largest position in CCT too!! Though I do hold CLV and have done for some time, was fortunate to buy at 16p, watched them go up and come all the way back down again!! I am very happy with my position in CCT but will not make the same mistake with CCT as I did with CLV if CCT decides to make a move down, though it seems unlikely.

[scburbs] 22/1/2007 17:27

pat dunk, looks very cheap to me with banking facilities secure. Spread is not very nice at the moment and placing price is a large unknown, particularly as directors are converting £200,000 of loans and, therefore, might have an incentive for the placing to be at a discount. Didn't have much time over the weekend to have a proper look as was focusing on doing a forecast for my largest holding CCT. Will try have a more detailed look soon and if the spread narrows will probably take an initial position.

[pat dunk] 22/1/2007 13:19

I understood they paid £6mil for the new boats as well?

[strutt12] 22/1/2007 12:19

Pat dunk

Where did you get the info regarding valuation of boats?

As I understand they had 8 old boats valued on the books £800,000 they have sold 1 for £145,000 but that was a year ago.

Thanks

[pat dunk] 22/1/2007 10:45

scburbs, I agree that the management are poor at providing information, however they seem to able to generate the sales, have a good business model and are generating profits, so they can't be all bad. What did you discover over the weekend?

[scburbs] 19/1/2007 15:28

pat dunk, I am monitoring them because they are cheap, so agree with what you say. I will try and have a bit more of a look over the weekend. I am a bit worried about the apparent amateurish nature of the management, although maybe that is to be expected in a company of a sporting nature.

[pat dunk] 19/1/2007 14:05

scburbs, my understanding is that because of the poor valuation of the boats due to the demise of Chay's business, the bank would not take the boats as security and therefore CLV have resorted to a placing instead of bank funding, but the urgency may be the reason for a lower price, if indeed that is what they are going to do. However the company at this price only has a cap of 5.7mil which is less than the value of the boats as I understand it, let alone any other assets or cash or the value of the races or the business. Surely it has to be way undervalued at this price and a bit of a bargain, especially if they are going to make £900k this year, similar to last year.

They must be confident of the £900k for this year, bearing in mind the year end is not far away. They also have effectively forward sales for next year too. I can only assume the reason the price is where it is, is because of the appauling lack of news flow that comes from the company - they msut have a Pr agency on board to help promote the racing so why is the news flow so sparadic?

Just my thoughts but this company does get me going!! imvho, dyor

[scburbs] 19/1/2007 12:00

mesquida, I read it that the bank have told them that they will continue to be supportive if they raise £1m of equity, i.e. the support is contingent on the placing which means they are desperate for the cash. This doesn't put CLV is the best position for maximising issue price. Just my reading of the RNS, otherwise why issue the shares.

[mesquida] 18/1/2007 19:40

Why are you both assuming that any placing will be at a discount to the market price. Placings can be at a premium - indeed the Company´s last fund-raising at 25p was actually at a premium to the then ruling market price. The important point to remember here is that the Company is not exactly desparate for the cash - indeed they have confirmed today that their bankers continue to be supportive - and the Directors themselves will not want the new shares to be issued at a low price because the lower the price then the greater the number of shares that will have to be issued so as to raise the targeted figure of one million sterling, and of course the greater the number of shares that have to be issued then the greater the degree of dilution that will be suffered by the shareholders, and the Directors are significant shareholders!!
p.s.-yes, Pat, they are cheap, but this little fiasco has lost them a few friends and what they have to do now is re-build relationships and this may take them a little time.If I were a bidder then I would move now!

[pat dunk] 18/1/2007 08:50

presumbly if it is at 15p then there will be a dilution of about 25% which is not good, but it will mean that the company will not need the bank borrowings it was trying to secure, which has to be a big positive.

Also did I miss in previous announcements that they had as many as 6 cities signed up, I only remember them announcing 2 or possibly 4? Or is it the usual with CLV that they don't keep us informed as to what is going on?

If they are forecasting £900k profit for this year and they have cash in the bank and no borrowings, surely the share price is very low at 20p or thereabouts?

[tyranosaurus] 18/1/2007 08:34

Probably at 15p.

The share price was/is being manipulated down to get a lower placing price.

[strutt12] 18/1/2007 08:13

A placing to raise more funds but at what price?

[dibbs] 17/1/2007 08:42

mesquida,

Its the usual CLV way here IMO, small issue/problem that is handled so badly, without keeping investors informed that they manage to turn it into a biggie. Here they have planted the negative seed of doubt and then left investors wondering and thinking the worst. Any kind of update would be good.

Maybe I missed the RNS saying that the entire management had been lost at sea.

Dibbs

[mesquida] 16/1/2007 21:48

Hey, nobody is saying that the company does not have the support of its bank. Believe me, if that was the case then the bank would have appointed administrators by now. No, clearly the company DOES have the support of its bank - it is simply a matter of the two sides now formalising the basis of that support. These things take time, and it all sounds a bit more scary than it probably is, but the market makers have been quite happy to absorb a string of sales and I think that speaks volumes.

[pat dunk] 16/1/2007 15:06

clearly something must be going on behind the scenes. how can a company continue to operate so long without the support of its bank?

[mesquida] 15/1/2007 23:15

Anybody got a date for the A.G.M.? It must be imminent and it could be that it will present the Company with an opportunity to update us on the banking issues. Perhaps also the Company could produce interim figures at the same time - it would be nice to know whether the previously indicated interim dividend of 0.5p is still on the cards - if so then the share price is ridiculously undervalued.

[dibbs] 05/1/2007 12:08

Hard to make any informed conjectures on this one Joan.

I am going to use my predictive powers now and guess that you will have heard nothing from the company? I did have a number for the outgoing FD, who I spoke to once. I would maybe suggest ringing the office and see who you can get that can help with investor relations.

This financing thing is going to keep any new money away from here IMO. Unless they have an inside track. I suspect this will suddenly rally 10 or 20% followed by a successful refinancing RNS. Am only speculating though.

Having sold out I find myself still very interested in CLV. It is finding that point at which a troubled, unloved stock becomes a mega recovery play that can offer large rewards. If these could do 7p EPS before too long then we are looking at a superb prospect here.

If only we had some answers...

Cheers

Dibbs

[joan of arc] 03/1/2007 18:34

The shares continue dribbling down. Anyone got any further conjectures. I emailed CLV regarding when they would make a statement about the Banking arrangements though as with other posters I don't hold out much hope.

[dibbs] 24/12/2006 16:39

Mesquida,

I hope that you are right. He would though appear to be sitting on his hands as far as purchasing more CLV shares is concerned. His purchases have give support around the 25p level thus far.

Merry Christmas and a Happy New Year.

Joan, hope the head is not still sore from the other day!

Dibbs

[mesquida] 22/12/2006 18:16

David Newton is certainly no senile old codger - he had a very successful career broking with John East and Partners a few years back - I do not pretend to know what his game-plan is but I do believe that his involvment is a jolly good reason for holding this stock.