Clipper Ventures Share Discussion Threads

[deswalker] 13/8/2009 10:35

Annual Report for the year ended 30 Apr 2009 arrived this morning.

[deswalker] 12/8/2009 20:55

Another boat named today. Spirit of Australia.

Sounds like a two race deal in conjunction with the additional Aussie legs for the 11-12 race detailed above.

[deswalker] 03/8/2009 13:57

The route for the 11-12 race has been unveiled today.

Looks great with an extra leg included. Instead of Perth to Singapore direct, they'll go Perth to New Zealand round the bottom of Tasmania, then New Zealand to Eastern Oz then back to Singapore via Papua New Guinea and Indonesia.

It is this sort of change that I was hoping to see, and asked them about such ideas at the EGM. They mentioned nothing but were clearly thinking along these lines.

A whole new set of ports to sponsor the race, presumably some of which have already signed hence the change of route.

[deswalker] 10/7/2009 11:44

Just received a letter from the Company Secretary to say that Hoodless Brennan will operate the Matched Bargain facility.

[deswalker] 07/7/2009 11:25

Another boat named today. Edinburgh.

[deswalker] 25/6/2009 19:22

Welcome to the new Clipper Ventures thread. Please use this thread for any discussion following the delisting which becomes effective at 7am on 26th June 2009. Many thanks.

[deswalker] 25/6/2009 19:09

This is a new Clipper Ventures thread for any discussion following its delisting from AIM effective from 7am on 26th June 2009.

Websites:

[mesquida] 22/6/2009 10:09

No, Des, you are not alone - I am continuing to hold 500,000 and am much encouraged by the fact that Value Investments has been buying in the market since the delisting was first mooted and yet quite clearly they did not vote against the resolution. As a major shareholder I am sure that they will have enjoyed some discourse with the Directors over the past few weeks and that has presumably encouraged them to stay aboard. Going off market is never an easy option for private investors, but the last time I did it the eventual pay-off was 4 times the previous market price and that was within 15 months of delisting. Let´s hope that this one proves equally rewarding!!

[scburbs] 18/6/2009 10:25

Wow, 99.8% in favour! Presumably anyone who wanted to vote against had their voting rights trapped in a nominee account.

[joan of arc] 08/6/2009 17:03

Like I said Des I got out last week so you can take me off your list. Same sentiment as scburbs.

[scburbs] 08/6/2009 11:21

Value Investments picking up more and I believe have picked up my 70,000 at 5.65p (those out first thing got 5.8p).

Whilst it is a large percentage loss for me, I don't trust the board to deliver in my best interests as a private company. Whilst I suspect more value may be realised by hanging on I have decided to exit as its a small proportion of my portfolio and I would rather just forget about CLV!

Good luck to anyone who decides to stay in.

[tyranosaurus] 05/6/2009 18:02

And now to 5.5p

[tyranosaurus] 05/6/2009 13:22

Sombody appears to want these as the bid price has gone up from 4.25p to 4.5p and now to 4.75p.

[tyranosaurus] 04/6/2009 14:17

AIM listing costs 50k to 200k pa
Plus listing costs 15k to 50k pa

Why not just list on Plus. At least there would still be a trading facility.

[deswalker] 02/6/2009 10:58

Yes. Either they are planning on blocking or more likely (given previous similar situations most notably Metnor from a couple of months ago) they are happy to hold into a delisting. If the latter then a delisting looks to be a certainty :/

[scburbs] 02/6/2009 10:49

Very unusual trading going on here. Value Investments Ltd now hold 9.6%. They seem to be sweeping up all the PI disposals.

[tyranosaurus] 01/6/2009 08:39

My view is that they have done their homework. They would not announce this if they didn`t believe they had a very good chance of getting it through.

Therefore we can`t rely on Mainsail or Barry to vote against.
Joan of Arc has sold out and I am considering following.

[tyranosaurus] 31/5/2009 11:59

Just logged in after a weeks holiday with no internet access, and look what i find.

Will be selling the 2,500 of mine that I hold under the EIS scheme and get the loss relief. I can`t see how I will ever get as much by holding on.

[joan of arc] 27/5/2009 08:45

Well, my last post here. After sleeping on the matter I have decided to get out.
Why?
- The gang of 4 are not to be trusted going forward. The passing of the dividend had nothing to do with "conserving cash" as I said at the time, it was merely a ploy to get the price down so that they could increase their holding cheaply with a view to delisting. They clearly feel no real moral obligation to the PIs who put up their money in the first place!
- Once private for all intents and purposes, as a minority shareholder, your holding becomes worthless. There are too many ways for the majority to extract the profits at the expense of the minority.
- Again, once private an illiquid share like this will never be on anybody's radar and the only buyers (the gang of 4) will hold you to ransom. Even if they sell out there is no guarantee that you will get same price as only their shares may be taken out at the agreed price. LSE rules will not apply.
- Keeping track of what is going on becomes a much harder and more dedicated a task. When you are time poor it will not happen.
- This will go private as they bought up another 7% of the company yesterday and are continuing to soak them up today.

It galls me to let these go as they do have a long term future. And it says what a disater the AIM market is that a company can be bought for less than its net cash, let alone its tangible assets and the inherent value of the business.
The moral of the story is buying shares in the AIM market is worse than a casino so buy with your eyes wide open and secondly make sure that directors holdings are within strict limits so that they can't get up to any shenanigans.

[joan of arc] 26/5/2009 23:08

Point taken and I guess the directors would hardly throw money at it if they thought it was a lame duck. I still find it difficult to see how this might fit in as a natural extension to any other company's business. It is operating in a very niche market with lumpy cashflows.
Also once this goes off the screen it will be much more difficult to be sure that future profits get shared out equally with the rump of PIs that remain.
Finally over 1 million shares were shown as sold today with the bid price holding firm at 4.25p. Someone is clearly hoovering these up!