Cabot Energy Share Discussion Threads

[25october1969] 05/3/2004 16:44

Jeff

Is this then on the distribution side that Red Linnet is referring to. If so, as you hint, not such a big deal.

[25october1969] 05/3/2004 15:54

Can you expand Red Linnet, is this public knowledge?

On the new shares, the company advise they have been issued and should now be listed on Aim

[red linnet] 05/3/2004 15:45

If everything is so Hunky Dory, how come three senior Anglo Abrasive managers have independently quit in the last month? - It makes me wonder. Especially as they remain in the industry and therefore in direct competition.

[the shuffle man] 05/3/2004 12:14

So no comments on LPA Group then, looks like they are going to start moving up again

[jeff_v] 05/3/2004 08:59

If so an admin error I presume.

[esrimeur] 04/3/2004 12:02

It seems the 15mln new shares from the loan note conversion were not admitted to AIM yesterday as was expected. Never seen that before. Any ideas?

[jeff_v] 03/3/2004 16:21

ZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzz!

[the shuffle man] 03/3/2004 11:26

Has anyone looked at LPA Group looks like another interesting turnaround story.

[jeff_v] 03/3/2004 09:12

A trading stement won't have much to say about the last year which is positive, we know the FY results are going to be poor. They announced they had significant interest for the majority of a fully underwritten placing in October last year.

The delay now can only be about getting a full set of buyers lined up or because they have had more demand since October. Warrants announced yesterday make it look like a placing at 14p.

Ergo - those who have already signed up to a placing at 14p, who already hold shares in the company (perhaps Silverslaggan? or its owner) might want to average down by selling some of their exisiting holding above 14p.

[25october1969] 03/3/2004 09:04

CAB will probably issue a trading statement soon in advance of the publication of the results, this will allow those interested in the placing to have all the facts.

[25october1969] 02/3/2004 17:19

The placing has not yet happened.

[jeff_v] 02/3/2004 17:01

Who can be selling at 15p? Only those who are in on the placing at 14p I suggest.

[esrimeur] 02/3/2004 15:04

The latter - re-financing known about for over 4 months!

[ianproud] 02/3/2004 14:58

Stock Exchange Announcement
2 March 2004

Jean-Louis Moatti Appointed Non-Executive Director of Carbo plc
Jean-Louis Moatti, 56, has been appointed to the Board of Carbo plc, the Manchester based industrial abrasives manufacturer and distributor, as a Non-Executive Director. He brings to Carbo international expertise in manufacturing and industrial management as well as his own experience of the abrasives industry.

Jean-Louis Moatti is a director of Cemom SA in France, Ekament AB in Sweden, Ekament Polska and Polsoft Spzoo, both in Poland. As Chief Executive of the French company Cemom SA, he has established subsidiaries in Poland, Belarus and Russia which are involved in the production of industrial fittings and abrasive conversion. In addition. Cemom has a subsidiary in Italy producing hand-sanding machines for the automotive and woodworking industries. He is also a major investor in Carbo plc attracted by the strength and durability of the brand, its capacity for increased production and also because it is one of only two companies in the world producing coated and bonded abrasives.

Commenting on Jean-Louis Moatti’s appointment to the Board, Lord Hodgson, Chairman of Carbo, said, “With Jean-Louis on the Board, the company will have the benefit of his international experience in company restructuring and productivity improvement. As a major investor in the company shareholders can be fully assured of his commitment to fully support the company’s business development and ensure that the funds raised by the recent refinancing agreement are used most effectively.”

It is confirmed that there are no details that are required to be disclosed in connection with Jean-Louis Moatti under schedule two paragraph (f) of the AIM rules other than as stated in this announcement.

Carbo PLC has subsidiaries across Europe in Germany, Belgium, Norway, Italy, Portugal and France. Manufacturing units are located in Germany, Italy and the UK. Carbo supplies high quality abrasive products throughout the world under various brand names including Carborundum, Carbo-Schroeder and BMA. They are used in a wide variety of industries including automotive, aerospace, metal work, furniture, cutlery, valves, power tools, hand tools and tobacco production. The Group also owns Anglo Abrasives Limited, one of the largest distributors of abrasive products in the UK, with branches located throughout the country.

For further information please contact:

Ian Proud, Franklin Associates, tel [phone], mobile [phone]

Stock Exchange Announcement

FOR IMMEDIATE RELEASE 2 March 2004



Carbo PLC

("the Company")

ANNOUNCEMENT OF CHANGES IN NOTIFIABLE INTERESTS

On 19 February 2004 the Company announced the completion of the refinancing programme and the conversion of the £3,185,000 Variable Rate Secured Convertible Redeemable Loan Notes 2007 (“Loan Notes”). The Loan Notes have been converted into 14,988,228 new ordinary share of 10p each in the Company (“Ordinary Shares”).

The Company has applied to AIM for the listing of the new Ordinary Shares and it is expected listing will be granted on 3 March 2004. Following admission of the new Ordinary Shares the issued Share Capital of the Company will be 22,902,218 Ordinary Shares (the “Enlarged Issued Share Capital”).

Furthermore, the Company has allotted 395,699 warrants (the “Warrants̶1;) which enable the holder of the Warrants to subscribe for a total of 395,699 Ordinary Shares at a price of 14p at any time up until 31 December 2007.

As a result of the conversion and further share acquisitions (as notified to the Company on 26 February 2004), the following directors, individuals and corporations have increased their beneficial interests in the issued share capital of the Company:

The Lord Hodgson of Astley Abbots
Following conversion of his holding of 817,656 Loan Notes, together with a further acquisition of 195,314 Ordinary Shares at a price of 14p on 18 February 2004, Lord Hodgson, a director of the Company, has increased his beneficial shareholding by 4,043,106 Ordinary Shares to a total of 4,093,106 Ordinary Shares, representing 17.9% of the Company’s Enlarged Issued Share Capital. Furthermore, Lord Hodgson has been allotted 101,854 Warrants.

Lars Nyqvist
Following conversion of his holding of 23,906 Loan Notes, together with a further acquisition of 7,814 Ordinary Shares at a price of 14p on 18 February 2004, Lars Nyqvist, a director of the Company, has increased his beneficial shareholding by 120,312 Ordinary Shares to a total of 120,312 Ordinary Shares representing 0.5% of the Company’s Enlarged Issued Share Capital. Furthermore Lars Nyqvist has been allotted 2,970 Warrants.

Peter Gyllenhammar
Following conversion of his holding of 280,469 Loan Notes Peter Gyllenhammar has become interested in 1,319,854 Ordinary Shares representing 5.8% of the Company’s Enlarged Issued Share Capital. In additition, Mr Gyllenhammar is interested in 752,273 Ordinary Shares of the Company representing 3.3% of the Company’s Enlarged Issued Share Capital through his wholly owned company Silverslaggan AB. Furthermore, Peter Gyllenhammar has been allotted 34,845 Warrants.

Jean-Louis Moatti
Following conversion of his holding of 80,000 Loan Notes Jean-Louis Moatti, a director of the Compnay, has increased his beneficial shareholding by 376,470 Ordinary Shares to a total of 376,470 Ordinary Shares, representing 1.6% of the Company’s Enlarged Issued Share Capital. Furthermore, Jean-Louis Moatti has been allotted 9,939 Warrants.

In addition, following conversion of its holding of 97,656 Loan Notes and the purchase of 195,314 Ordinary Shares at a price of 14p on 18 February 2004, Cemom SA , which is owned by Jean-Louis Moatti and his family, has a beneficial interest in 654,872 Ordinary Shares of the Company representing 2.9% of the Enlarged Issued Ordinary Share Capital of the Company. Furthermore, Cemom SA has been allotted 12,133 Warrants.

EkaBo AB and EkaCar AB
Following conversion of their holdings of 1,018,182 Loan Notes and 581,818 Loan Notes respectively EkaBo AB and EkaCar AB, two Swedish registered corporations owned equally by Mr A Manganelli, an Italian national, Cemom SA, a French commercial company owned by Jean-Louis Moatti and his family, and Emerald llc, a US registered corporation owned by Herman Fuchs, a US national and existing shareholder in the Company, have acquired a beneficial interest in 4,791,444 Ordinary Shares and 2,737,967 Ordinary Shares representing 20.9% and 12.0% respectively of the Company’s Enlarged Issued Ordinary Shares. Herman Fuchs has an existing interest in 262,500 Ordinary Shares of the Company representing 1.1% of the Enlarged Issued Ordinary Shares. Furthermore, EkaBo AB and EkaCar AB respectively have been allotted 126,497 and 72,284 Warrants.

Trafalgar Asset Managers Limited
Following conversion of its holding of 156,000 Loan Notes Trafalgar Asset Managers Limited has increased its beneficial shareholding by 734,117 Ordinary Shares to a total of 734,117 Ordinary Shares, representing 3.2% of the Company’s Enlarged Issued Share Capital. Furthermore, Trafalgar Asset Managers Limited has been allotted 19,381 Warrants.

These changes in interests were effective from 19 February 2004.

For further information contact:

PG Firth, Company Secretary, Carbo PLC on 0161 872 2381

[the shuffle man] 02/3/2004 14:51

If there is going to be 22m shares in the market the price must drop to reflect the correct market cap. The new shares are in a placing not a rights issue so can someone explain why I should buy the shares now or does the price already reflect the new shares coming to the market?

[esrimeur] 02/3/2004 13:27

Yep, placing still to come, cf warrants @ 14p referred to in today's release.

Mkt reaction ZERO.

62% of co in the hands of the parties disclosing interests today.

[esrimeur] 02/3/2004 13:01

Conversion at 21.25P PLUS some very influential new stakes. Hohoho!

[jeff_v] 01/3/2004 09:52

I think agreement to convert probably has taken place - hopefully at 21.25 ps as per the October announcement but I don't think the shares can be issued without an RNS saying how many have been admitted to AIM.

[spurious] 29/2/2004 14:05

Hi Roy and Obelix Does look interesting Obviously a few issues re pricing and number of share issue still to be finalised and then overall picture should become clearer. Huge scope for cost cutting and a global brand ballances risk of previous poor and unresponsive management. Strength of Euro may have adverse impact on sales together with admission by management that sales have suffered as a result of time devoted to recent fundraising so upcoming results may be poor but possibly flag a more promising sales outlook I look forward to chatting to you both soon
Best wishes SP

[alexicacon] 29/2/2004 11:16

Cheers 25O

[25october1969] 28/2/2004 14:13

They don't even have a bank. They have agreed a facility with GMAC of around 10m and the existing loan of 3.1m will be converted to equity. New equity of at least euro2.5m will be raised