Cabot Energy Share Discussion Threads

[ldavis] 28/11/2002 22:36

A quick check of the RNS indicates that the proposed share consolidation has occurred, so yes the price is correct. If you are holding then you now own only 1/10th the number of shaers you held before so your holding can become worthless even quicker.

[fevs] 28/11/2002 20:42

Can any one tell me what has happened with these shares today?. Is the price correct and what does this mean for the future.

Thanks in advance

fevs

[heaven] 18/11/2002 09:26

VOTE NO TO THE SHARE CONSOLIDATION
If business prospect are good the share price will increase to 25p when people are interested in the share. What we need is good news and profits not share consolidation that give the MM a chance to drive the share price south.

[heaven] 18/11/2002 09:25

VOTE NO TO THE SHARE CONSOLIDATION
If business prospect are good the share price will increase to 25p when people are interested in the share. What we need is good news and profits not share consolidation that give the MM a chance to drive the share price south.

[edgarssoni] 12/10/2002 00:41

RNS Number:3796C
Carbo PLC
11 October 2002
FOR IMMEDIATE RELEASE

PRESS ANNOUNCEMENT

11 October 2002

CARBO PLC ("Carbo" or the "Company")

ACQUISITION

Carbo, a major European manufacturer of bonded, coated and superabrasives, today
announces that it has acquired the business and certain assets of Ekamant UK
Limited ("Ekamant UK").

Ekamant UK is a converter and distributor of coated abrasives for woodworking
applications. The directors of Carbo believe that Ekamant UK's product range is
complementary to, and will enhance Carbo's existing product portfolio.

The business of Ekamant UK, which is based in Birkenhead, Mersyside will be
transferred and incorporated into Carbo's existing UK coated business, based at
Trafford Park, Manchester.

Commenting on the acquisition Lars Nyqvist, Chief Executive of Carbo said "This
acquisition is a further step in developing our strategic alliance with Ekamant
AB and will strengthen our coated market position in the UK".

Enquiries:

Carbo PLC 0161 872 8291

Lars Nyqvist, Chief Executive

This information is provided by RNS
The company news service from the London Stock Exchange
END

[niceandlegal] 08/9/2002 15:59

Degano and dmhzx...

So brilliant it was all thought through and done on the 29th July?, it's shame someone with inside information doesn't give the administrators any relevant information to get this whole clever business investigated. As for not understanding the lack of buys, the answer to this can be surely be found in the group accounts and the state of manufacturing industry, how clever to get rid of the debts of Carborundum Abrasives GB Ltd, it is only short term, there is little sign of an increasing order book for abrasive products in the U.K. or Europe or the USA, there are plenty of competitors out there for them to compete against, but damn clever perhaps we should all put our businesses into administration and buy them back from the administrators minus the debt, this way you get at least 4 more days to arrange this than joe public who finds out in the FT 4 days after the event - if he is looking, and if you are particularly clever the 6 remaining days you have left to make an alternative bid for what you want should be no problem.

[niceandlegal] 04/9/2002 21:30

Has nobody inside or outside got anything to say post 29th July 2002?

[adamnorth] 01/9/2002 11:47

hi all

i'm holding 30,000 of these - is it worth keeping / topping up. my average price is 4.5p and i bought on the back of the tip sheet back in jan.

any thoughts welcome

[izziebon] 27/8/2002 15:53

one of my broker advisers says this one could realistically go to 10p in a year, having examined plans and figs.

[degano] 22/8/2002 00:17

dmhzx>
I'm glad you turned up. I was feeling a little lonely out here since I bought into CAB yesterday.
I can understand a certain bitterness on the part of those who have lost out, but for a company to come back the way they have has taken a hell of a lot of commitment imho.
Still can't understand the lack of buys, though...

[degano] 21/8/2002 17:29

I'm not ging to sit and watch the boards over this one. Recent history - and the drop at midday - tells me there is a long way to go yet. I'm happily pessimistic that I can leave my pittance to grow over time.

[fevs] 21/8/2002 15:27

I'm just sat back waiting, but this last week has the price start to move again.
I still need to see 5p again, but the way it's going I might not have to wait that long

[dmhzx] 21/8/2002 13:21

Degano, don't get me wrong. I really do think this was a brilliant move. For once, I think ever, the shareholders have gained from this maneouvre.
What usually happens is the the directors themsevles 'buy' from the administrators, and seem to get a special discount because it was them who called the administrators in in the first place.

But here, the company has effectively bought itself back from them, almost certainly free of debt. so the shareholder benefit.

I take my hat off to the board.

[dmhzx] 21/8/2002 09:22

I know I'm a bit late in this, but if I read this right it's a touch of absolute genius.
Carbo puts part of it own group under administration because it has run into financial problems.
A short while later it buys it back from the administrators.

What a marvellous gambit to walk away from a pile of debt, and fire up the self same business, but now with a clean sheet. Brilliant.

If I've misread the release hopefully someone will put me right.

[saturn5] 12/8/2002 19:08

If this is a case of "asset stripping" then the FSA and the BOT should do a thorough investigation. I have little faith in Gyllenhammer and Lord Hodgson.
Whats going to happen the the asset value for us

[hyper al] 08/8/2002 07:42

Carbo is back!

What are you talking about Gracey.

[hollyz] 02/8/2002 19:50

Wonder what tonys spin doctors would make of the Lord Hodgsons involvement in this shambles

[graceyfields] 02/8/2002 00:16

Very bad news for shareholders I feel

Why?

gillenhammer is taking us out at 2p a share!

[philmiboots] 01/8/2002 09:17

Good news/bad news?
Where's Gracey??!!

[hyper al] 01/8/2002 07:38

Suspension.



Reason - waiting for accounts

[edgarssoni] 31/7/2002 00:05

PRESS ANNOUNCEMENT 30 July 2002

CARBO PLC ("Carbo" or the "Company")

GROUP RESTRUCTURING

Further to the announcement dated 6 June 2002, the board of Carbo today
announces that further steps have been made in the restructuring of its
businesses.

An agreement has been reached with Green Properties Limited whereby a sale and
leaseback of the main Trafford Park site has taken place. The consideration
received totals £2,530,000 and, as part of the agreement, the Company will lease
back the whole site for a period of 18 months at a rent of £264,000 per annum
and thereafter has the obligation to lease back either the main site or the east
works for a period of 15 years at a rent of approximately £200,000 per annum.

In addition, the resins site located at Trafford Park has been sold to New Age
Properties Limited for a consideration of £700,000.

The gross proceeds of £3,230,000 compares with a net book value of £4,166,943
for the entire Trafford Park site as at 31 January 2001, the last audited
balance sheet date. The directors have taken independent advice and believe
that the consideration corresponds to market value.

The proceeds of the above property transactions, net of costs, will be utilised
to repay amounts outstanding to the UK banks under the standstill agreement
dated 18 March 2002 ("the standstill agreement") as outlined in the circular to
shareholders dated 19 April 2002 ("the circular"). In addition to the property
proceeds, a syndicate of investors arranged by Union Investment Management
Limited ("the syndicate") has agreed to provide the Company with a loan of
£400,000 which will also be used to fund payments to the UK banks. This loan is
repayable on demand and will bear interest at 2.5 per cent. per annum above base
rate. The Company has now received confirmation from the UK banks that the
conditions of the standstill agreement have been fulfilled and that their
security has ceased to have effect (except for residual matters).

The syndicate comprises Johnson Brothers & Co Limited (a company jointly owned
by the Lord Hodgson and his wife), EkaBo AB and EkaCar AB, all of whom will be
substantial shareholders of the Company upon exercise of the convertible loan
stock which they hold. Further information on Johnson Brothers, EkaBo and
EkaCar is included in the circular. Union Investment Management Limited is a
subsidiary of Forvaltnings AB Browalia, a privately held group, in which Peter
Gyllenhammar (who is a substantial shareholder of the Company through
Silverslaggan AB) has a 50 per cent. beneficial interest. As such, the loan
agreement is a related party transaction under the AIM Rules. In the opinion of
the independent directors of the Company (being Messrs Nyqvist, Olsson and
Kopnick), having consulted with Andersen Corporate Finance (the Company's
nominated adviser), the terms of the agreement are fair and reasonable insofar
as the holders of Carbo's AIM securities are concerned.

In the period since 6 June, losses within abrasives production at Trafford Park
have continued. As part of the further restructuring and plans to return the UK
operations to profitability, Carborundum Abrasives G.B. Limited, the UK
manufacturing subsidiary of the Company, has been placed into administration.
All the German subsidiaries and Anglo Abrasives Ltd, the UK distribution
subsidiary, are continuing to trade and it is the company's intention to develop
these businesses further.

Enquiries:

Carbo PLC 0161 872 8291

Lars Nyqvist, Chief Executive

[tony14] 30/7/2002 17:42

Some chunky "T" trades and a MM buy of 250k at the close would suggest that someone is picking these up on the cheap, but can someone in layman's terms explain the implication of today's announcement.

[fevs] 30/7/2002 17:26

Somebody fancies the shares, over 2.5 mill bought before the close I know it's not much money but someones buying??????

[timbo003] 30/7/2002 15:31

Its an absolute disgrace, Gyllenhammer et al are doing a very thorough job at asset stripping and ripping off ordinary shareholders, I'm not surprised Ken Jackson resigned a few weeks back, presumably it was when he got wind of this latest scheme.

Anyone fancy the shares at 1.75p, I don't!