Cabot Energy Share Discussion Threads

[timbo003] 19/3/2002 08:36

Hondas

I have owned CAB shares in the past and I can assure you that I have no intention of owning them again after this announcemnt (The missis still owns 20K, so I continue to take an interest).

Just because there hasn't been a markdown doesn't necessarily mean that the news isn't bad, Market makers (and many investors) can be slow readers and furthermore they are often a bit intellectually challenged and require things explained to them when announcements exceed one paragraph.

The RNS doesn't say that the CEO has put in £200K of his own money by the way, he's put in part of £200K into the convertibles (convertable at 2.125p) not the ordinary shares at 3.75p. I must say I would be inclined to invest in the convertibles if I (or the missis) had been offerred the chance, but oh no, they weren't offered to ordinary shareholders, only the priviledged few. Gyllenhammer basically has what he wanted (ie control) at a discount to the current price, normally you have to pay a 50% premium for that, not a 50% discount!

[holdcroft] 19/3/2002 08:29

Suppose that you think that the company is worth £12m or 15p per share before the refinancing. After the refinancing (£3m cash injection), it could be worth £15m, but there are now 230m shares around (after conversion of the loan notes), so it is only worth about 6.5p per share.

You can insert your own assessment of the pre-refinancing value of the company and recalculate, but the heady days of double figure speculation seem unlikely to me at present.

[hyper al] 19/3/2002 08:16

timbo003

I agree, not looking good for shareholders!

[hondas] 19/3/2002 08:12

thisis good news I think Im in for more!

Chief exec puts 200k of his own money in!
net assets 10.2mil

BARGAIN

[timbo003] 19/3/2002 08:03

A great deal for Gyllenhammer, a terrible deal for shareholders by the looks of it.

If and when the convertibles get converted, there will be an extra 150M shares floating around, so in effect they are asking you to vote to reduce your shareholding to 1/3 of its current level. Meanwhile the bond holders will be paying themselves 2.5% above base rate, and shareholders gains through sale of properties appears to be capped.

[nav_mike] 19/3/2002 08:03

Confirmatory rather than anything - at least it gets CAB back into view for a wee while and shows that it aint going bust.

Also only 1 MM left on 3.75 offer - hasnt been like that for a while

[jhan66] 19/3/2002 00:36

Gracey it's no wonder you get so much stick, oh yes.

I'm out. Should I be back in? anything tangible

[graceyfields] 19/3/2002 00:16

I see the buyers are starting to return

This makes my knickers even more wet if what I am hearing down the road is anything to go by!


oh yes

[nav_mike] 18/3/2002 21:55

Go on Jim - with Gracey mentioning wet knickers Ive got to allow you one! :-)

[justjim37] 18/3/2002 19:20

jhan66,
I would love to say something but I promised Nav-Mike I would keep stum.
Believe me it's not easy.

[nav_mike] 15/3/2002 00:49

Its ok Jim, after my SWD misdemeanours I'll allow you that one....

Already have a very small punt on OCH (30k) so I'll be looking for you if goes wrong....

I just know it was you that bought 150k CAB Tuesday and Today!

All the best
Mike

[justjim37] 15/3/2002 00:30

NAV,
You would have had a manificent seven if gracey had not sold her one share.
Sorry mate couldn't resist. ;0)
On a serious note if you were still considering getting into OCH today could be your last chance. Currently 8p but could be 9/10p at end of day.
Be Lucky,
Jim

[nav_mike] 14/3/2002 09:58

Flippin eck! Not even enough for a magnificent seven, let alone a dirty dozen!

[riggs] 13/3/2002 18:31

I sold my 300k @ 5.75 for a profit of just over £7k ... but since lost some of it on TWT ... oops :)

Still keeping my eye on CAB.

Riggs

[edgarssoni] 13/3/2002 08:36

I'm still holding.

{:o)

[jhan66] 13/3/2002 08:31

sold all 75k at a reasonable profit. Looking to get back in at the right time

[holdcroft] 12/3/2002 22:18

I'm still in, waiting, looking for the next bit of news.

[nav_mike] 12/3/2002 00:57

How about a quick head count as to who is still in, who will be getting in and who have just lost the will to live with CABs?? :-)

You guys know Im still here...hhmmph!


Oh yeah...someone picked up 150k today - wasnt me!

[justjim37] 08/3/2002 23:57

Nav,
Sorry, genuinely.
Will not post here again but really hope we meet again on other threads OCH??

All the very best,

Jim

[nav_mike] 08/3/2002 18:52

Jim, you and I havent fallen out in the past coz u know I just want to invest but....

Recently all you have contributed to this thread is along the lines 'Gracey is majorBill' 'Gracey is Hondas' ad nauseum. There are believe it or not some of us who still hold that want to talk about CAB shares.

Gracey (whom i dont have a soft spot for but you seem to have a fixation with) has posted I think two messages in the last two weeks. You and your sidekicks have posted five times more than that with drivel.

Sorry mate if I offend but you got out of CAB ages ago (and good luck to ya) so please just give it a rest. Or are you gonna make things worse in the run up to results?

Mike

[justjim37] 08/3/2002 17:35

Nav,

I'm beginning to think that you have a soft spot for our Gracey.

have a peep at OCH, I got in at 7.25p yesterday now 9p but someway to go methinks.

my pet hate is ramping so no way will I leave gracey/hondas & others in peace. They cost genuine (but green) investors hard earned money.

Regards,

Jim

[nav_mike] 08/3/2002 14:24

Jim, How bout leaving us CAB holders to wallow in our own misery eh?

At the moment I am consoling myself as they ticked up 0.25 and there have been some buys of 40k and 50k.

Clutching at straws considering the past, but hoping run up to results will prove more beneficial