Cabot Energy Share Discussion Threads

[jhan66] 06/6/2002 16:54

"large operating losses in the last financial year and in the period
to date, into a smaller more efficient site by rationalizing the bonded
production with the facility at Dusseldorf. This is intended to improve
productivity, reduce fixed costs........"

Not too good. confirmation of continued losses in current period, more rationalisation cost having already spent a ton of money on Dusseldorf upgrades last year. Best wishes for the future but Im still not buying.

[the pink pound] 06/6/2002 16:35

News afoot. comments please!

[zapdos] 17/5/2002 20:50

Looks like the price is back where we started then.

[wrangler501] 22/4/2002 13:40

jhan66
Kopnick is German - runs the German operation. Long standing employee of CAB!

[dimitry12] 19/4/2002 11:51

LONDON (AFX) - Carbo PLC said chief executive Ken Jackson is to relinquish
his executive role and become non-executive deputy chairman of the company if
refinancing proposals to be put to an EGM on May 16 are approved.
Lord Hodgson and Lars Nyqvist will then be appointed to the board as
non-executive chairman and chief executive respectively.
The EGM has been called to approve the issue of approximately 3.19 mln stg
of convertible loan stock to a syndicate of investors, as previously announced.
The company will also be proposing to waive the obligation of the syndicate to
make an offer for the entire issued and to be issued share capital of the
company.
Separate general meetings of both ordinary and preference shareholders are
also being convened to approve an increase in the coupon rate of the company's
preference shares from 5.25 pct to 8.00 pct, in accordance with the company's
stated intention as outlined in the chairman's AGM statement of July 25 last
year.
The cost of the increase will amount to 9,625 stg per annum.
The board said this is necessary in order to restore the dividend rate of
the preferences shares to the level before the abolition of advance corporation
tax and to compensate preference shareholders for the increased risk occasioned
by the current level of borrowings within the company.
Other board changes to follow the EGM, if shareholders vote in favour of the
proposals, include the resignations of Messrs Goodall, Sanderson, Howard,
Kingdon and Hardie, said Carbo.
Sven Olsson will join the board as a non-executive director.

[hyper al] 18/4/2002 08:48

If you want to invest in Cabs take a look at EIT, they have a large deal with Chubb to place security equipment in cabs. Very good price as they have just returned from suspension after receiving a false order.

[holdcroft] 10/4/2002 22:43

The details of the share dilution have now been known about for quite a long time and therefore to a great extent this must already be in the price. The next big move (up or down?) could be when the full year results become known (shouldn't be long now). As usual, I expect rumour will precede publication and there will be money to be made by those in the know.

[hondas] 10/4/2002 21:00

I would not be buying back in at the moment

share dilution coming!

[saturn5] 10/4/2002 09:30

Its about time we got some action here. Gyllenhammer has been just sitting on it and doing nothing at all. We are not getting a fair deal

[jhan66] 08/4/2002 13:02

Thanks for the kind words. Hope everything works out okay, they do have a future business of course, but it's now down to operational performance

[holdcroft] 07/4/2002 21:03

jhan66,

Hello, yes I'm still here. Thanks very much for your recent posts which I read with interest, but didn't reply because I had nothing to add. Just because nobody responds to well reasonned comment doesn't mean that nobody reads or appreciates it - keep up the good work.

[edgarssoni] 06/4/2002 21:05

Still holding...

{:o)

[jhan66] 06/4/2002 20:59

err, hello ??
anyone there.

[jhan66] 26/3/2002 21:12

Ought to add that all the figures above may be wrong and are based soly on my fanciful notions. Did I mentioned they let me out at weekends now.

[jhan66] 26/3/2002 21:08

Took another look over Carbo figures, and realised exactly why they’re in business. It’s not for the workers, stockholders, directors or customers – it’s for the Bank. Guess someone has to pay for the marble floors & alabaster
towers, but never seen a more damnable example. After extrapolating half-year
figures, Banks cut is a cool £2.7M /year rain or shine. (£653K interest + £731K
fees x2) Legal fees included. Whats Carbo worth ? £2.37M

Moving on,
H/year loss= £2.9M, offset by pension surplus & German tax credit to £1.75M
My assumptions on 2nd half are -£1.1M –0.5M fees –0.6M interest= £2.2M loss.
(don’t expect material improvement, but can envisage cut in capex).
Don’t know about tax credit, but there’s an exceptional gain in pension of
£2.45M - So year end overall loss of only £1.5M.
Add this to the forecast £10.4M from re-financing & sale of assets and I think
I can see a secure business with sufficient time to put its house in order &
start making operating profits. Immediate interest saving of up to £1M /yr
anyway

Share value.
79.2 million shares in circulation @3p= £2.37M. Concert party gets extra
150.59M shares @2.125p each. Total after dilution of 229.788M
For their risk, they get a claim on 66% of the assets (£10.2M, perhaps now only
£9M, pretty good reward potential in any case +50% share on extra money)
However, I’m not concerned about assets at the moment. Carbo has always had loads of assets not reflected in the share price. I’m more interested in picking a good entry price.

If share price holds up, co. then valued at £6.9M. Extra £1.5M as if by magic!

Pragmatic reality is share price is well underpinned by this conversion price,
perhaps a floor of 2.5p, and it is capped by the same factor. In positive scenario with proven turnaround, co. might be worth £10M (reflecting asset value?) This is still only 4.3p per share after dilution. Best worth I can
envisage is a little more, but with the usual spreads, it’s hardly worth the
risk.

Think I talked myself into paying about 2.75p tops.

[jhan66] 26/3/2002 13:24

This is rapidly closing in on a price worth buying again.
Need to brush-up on my figures, but here's a start
Current Cap. £2.37M
Declared net assets in July 01 £10.2M
Assets bound to drop in current year -trading losses & interest. Then there's the concert party's dilution to consider.

Will attempt to crunch some numbers later, but gut instinct makes me think 3p might be worth paying.
Biggest factor is current prospects & operating profit if any. Can anyone help?
Gracey you out there?
Try & calm your high spirited enthusiasm for a second & tell me your current opinion qualified or not, Im interested.

[hondas] 26/3/2002 10:36

I see the mms are dumping

it will drop sub3p again

[justjim37] 22/3/2002 20:06

Hondas/gracey,

You certainly have a way with words.

:O)

[nav_mike] 21/3/2002 18:39

Well Ive bowed to the inevitable and sold out - will buy back on solid positive news, but on balance timbo called this right

Oh well, CAB will always be the 185% that got away - good lesson learned (he said thru gritted teeth!)

[justjim37] 21/3/2002 14:37

Hondas,
Your e mail "proving" those sells were yours has not arrived yet?
Now there's a suprise!!
:0) :0) :0)

NAV_Mike,
You did well to get out of CAB, Chase Nominees have dumped 670K shares.
Have a look at RBI please, another OCH methinks, you won't regret it.
Be lucky,
Jim