Cabot Energy Share Discussion Threads

[daddy warbucks] 29/1/2002 08:32

MM's doing a good job. Could there be a buyer in the background?

[justjim37] 29/1/2002 08:31

NAV_Mike,

Total net sales so far today in monetary terms is only circa £30,000.

Very very small beer in CAB terms.

Holding up well and when more people digest the news it should at least

stabalise or move back up to 7p.

[pork belly] 29/1/2002 08:24

Carbo listing restored as co agrees refinancing of UK debt


Tue 29 Jan 2002(27644)

LONDON (AFX) - Carbo PLC said its listing has been restored on the Alternative Investment Market after the company agreed to a refinancing and subsequent clearance of its UK borrowings, which currently stand at 10.4 mln stg.CAB - Carbo

Union PLC unit, Union Investment Management Ltd, has agreed in principle a refinancing of Carbo's UK borrowings with Carbo's UK bankers. Union Investment Management's ultimate parent undertaking is Browallia International, a privately held group controlled by Peter Gyllenhammar. Gyllenhammar has an interest in approximately 13.8 pct of Carbo's shares.

As part of the deal, which is still being finalised with the UK banks, Union will initially raise approximately 3.0 mln stg from a syndicate of investors including a trade investor, private investors and management to reduce the company's UK bank borrowings and provide working capital. Facilities of 220,000 stg have already been advanced by the syndicate of investors until the refinancing arrangements can be completed, said Carbo.

Of the 3.0 mln stg initially raised by Union, 1.0 mln stg will be paid to the UK banks and 2.0 mln will be used to provide working capital for the group.

The company also said that it is planning to submit a revised planning application for a proposed supermarket on the 13.4 acre industrial site located in Chesterfield which was sold (subject to planning permission) to a property developer in November 1998.

The company is discussing with the UK banks whether, as part of the overall refinancing deal, the Chesterfield site can be repackaged such that the UK banks retain the potential benefits of future consideration receivable in respect of the Chesterfield site in exchange for a restructuring of existing UK group borrowings. This may lead to an overall reduction in due course.

The company said it is also continuing to progress discussions regarding the sale of surplus properties and the disposal of parts of the business. It stressed that no other discussions are taking place with any other party regarding a sale of the entire issued share capital of the company.

The 3.0 mln stg to be raised by Union, the proceeds of future sales of certain assets and agreement as to the treatment of the Chesterfield site are expected to clear, in its entirety, the total outstanding debt of the existing group with the UK banks on or before Dec 31 2002, said Carbo.

Carbo said trading has been difficult for the group, mainly due to the financial circumstances of the group and market conditions. However, it said the group's Dorfner operation in Germany continues to perform well. It also said it sees significant sales opportunities in its German and Italian Coated facilities following the strategic alliance agreed in November with Ekamant AB of Sweden, one of the world's leading manufacturers of coated abrasives for woodworking applications.

[nav_mike] 29/1/2002 08:24

Blimey Jim! thats a bit positive for you isnt it? (Joking - glad u feel the same as I do)

[justjim37] 29/1/2002 08:23

My post 1517 got it all exactly right.

Long term this is all very good news in my view.

Might even move North later today when profit makers are out of the way.

One large institutional buy and it will soar.

I'm holding.

Be lucky,

Jim

[jhan66] 29/1/2002 08:22

So to summarise,
no management buy-out
no outside bidder
no sure-fire supermarket property deal
no declaration of business upturn, except for repeat that Germany doing okay (so it should after last year's £1M capital investment)

I may get back in under 5p, otherwise will look again in a few months

[holdcroft] 29/1/2002 08:21

Trades over a certain size are delayed to avoid spooking the market.

[nav_mike] 29/1/2002 08:20

Spetzke - it depends on your outlook

If you are a short term trader u may find better fireworks elsewhere for the time being.

If you are an investor then I still think you will be rewarded. Remember Goldfinger's tip was for 2002 not January 2002


PS Gracey where are you?

[arsee] 29/1/2002 08:20

Still no sign of my sell. How many more are being held back ?

[spetzke] 29/1/2002 08:16

All

Please comment on the news release??

It reads like good news?

Thanks in advance.

[holdcroft] 29/1/2002 08:14

A lot of small sales, but the MM's are still pricing it above what it was before last Friday - looks hopeful to me.

[arsee] 29/1/2002 08:06

Just got rid of my 232k @ 6p. Market will drop over next day or 2 at which point I may get back in. Good opportunity to make a few £ twice over. I'm with Stinger on this one.

As a matter of interest the trade is not showing on ADVFN even though I made it before 8:00 am. Why would they delay it ? All conspiracy theories welcome.

All IMHO of course. Good luck to all.

RC

[eyesclosed] 29/1/2002 08:06

Halifax online doesn't realise thye are trading again and so I have to hold!!!

Typical - but I was going to hold anyway - thought the refinanancing was excellent news myself

[conc2] 29/1/2002 08:05

this was 3p two weeks back

[nav_mike] 29/1/2002 08:04

Are we guilty of generating our own panic that no one outside of this board gives a toss about?

[nav_mike] 29/1/2002 08:03

Sorry Stings - didnt mean to offend. Just be a shame to see peeps jump ship like lemmings and let the Mms square their book positions at our expense.

[daddy warbucks] 29/1/2002 08:03

There are a few who have panicked in pre opening trade but no mass exodus. I think this will climb by the end of the day. IMHO

[philmiboots] 29/1/2002 08:03

mm's all over the shop, bid 6 (x2) offer 6 (x1)

[vulcan] 29/1/2002 08:00

This was tipped as penny share of 2002.
Im Holding for at least double figures.

[the stinger] 29/1/2002 07:58

Just my own opinion Nav Mike, Sorry and good luck what ever.

[nav_mike] 29/1/2002 07:56

Stinger - I will probably hold because I have a longer term view than most here. Could change my mind tho....

You do tend to have a very bearish outlook which isnt exactly shared by the Mms. Please dont try and scare people into selling just coz u feel that way.

Remember we were at about 5.5 before that little speculative bubble on Friday. We are just fighting sentiment this am not a fundamental change in the company

[spetzke] 29/1/2002 07:54

Good news which will have a benefitial up lift on the price!

Die Lemmings

[the stinger] 29/1/2002 07:52

NAV Mike,
If you bought in low take your profits, live to fight another day.

[nav_mike] 29/1/2002 07:51

Why are people trying to be panicked? No one expected profits yet but losses should be covered by pension surplus. Chesterfield site was known about. Refinancing in principle because this statement had to be rushed out before anything was finalised.

There is no need to jump off any cliffs - dont play into the MMs hands! What has actually changed from a week ago?

Can someone please respond to my debt query from earlier on?