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CTV Cng Travel

14.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cng Travel LSE:CTV London Ordinary Share IE00B00VVP40 ORD EUR0.0125
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 14.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Cng Travel Share Discussion Threads

Showing 1026 to 1050 of 1325 messages
Chat Pages: 53  52  51  50  49  48  47  46  45  44  43  42  Older
DateSubjectAuthorDiscuss
20/10/2005
16:49
Famous last words but looks like some good volume buying today so haven't phoned yet.
spiv 1
19/10/2005
15:54
Anyway I'm ringing my broker tomorrow to try to get some candid answers. I'll post his replies asap.
spiv 1
19/10/2005
14:54
It appears someone is dumping stock (100,000 yesterday and the same today). Do they know something we don't? Seems strange if the company is in bid talks, or is the seller connected to the bidders in which case a low share price would be ideal to allow a cheap bid to be accepted.
spiv 1
18/10/2005
20:05
Have to say, feel we (the small shareholders) were TOTALLY misled on this one. Management expectations and announcements were well well well wide of the mark.
Have to put it down to experience, write their names down, and if you do get tempted to invest in a company which they have some sort of connection with, do twice the normal research.
Hard to believe things looked so so rosey only a year ago.
If we're lucky, might get taken out above 30p, if we're not, it's a grim outlook!
All just my sour opinion.

the drewster
18/10/2005
18:11
when will see 40p again.. back down today at 23p,, no takers???
latifs100
05/10/2005
17:40
Well I can see your point, but there are alot of other
shares out there, and not throwing good money
after bad, is also... usually good advice

katylied
05/10/2005
17:36
I thought it would be useful to review the fundamentals on CNG and would appreciate a bit of feedback:

CNG: Where are we now?

• The share price is down 90% over the last year
• The company is now valued at 17m
• The loss making bit has been sold, the company has stopped the rot and it's apparently not going bust
• There are lots of big shareholders, some high profile, all carrying big losses.
• These guys will favour an orderly exit and will have the clout with the bankers to manage the situation and maximise the shareholder value.
• The market in these shares in pretty well non-existent, in the last 2 trading days 20k of stock has changed hands, the share price has varied +/- 12% and the spread is 15%
• So the big holders have no option but to either seek a buyer or settle down and stabilise the situation around Tzell (hopefully they can manage to do both)
• Tzell is a well established, low risk, defensive, cash generating business that has EBIT 10m$ a year.
• The future valuation of CNG is underpinned by Tzell.The oft mentioned figure here is circa 70p a share.
• The company is apparently in talks to be taken over and one report mentions 4 possible suitors

CONCLUSION

Given the above scenario the current share price does not reflect the fundamental value in the business.So the conclusion is that we should all be buying some more at these levels.
If anyone sees any flaws in the arguments, do please let me know before I plunge in again!
All the best
Robsy

robsy2
05/10/2005
09:52
Nice one spiv 1. Either way, I think something
has to happen to improve sentiment soon (soon
being the same length as a piece of string..)

katylied
05/10/2005
09:45
Just spoke to my broker. Obviously there was a strict limit to what he could say but he did say two things post his conversation last week with the chief exec:
1. The company has plenty of cash (£6m) to meet its financial commitments. In addition to this Tzell is highly cash generative. The company did not want to put the note to the accounts about continuing as a going concern but felt they had to due to new stricter international financial regulations and based on the companies poor track record.
2. The company is still in talks with a 3rd party.

Make of that what you will. IMHO the company isn't going bust and the share price will recover either via a bid or medium term as trading of Tzell continues to flourish. For now then I'm holding.

spiv 1
04/10/2005
16:37
Yep, call me cynical but can't see why the co would support the share price if its an mbo. All pretty disappointing. Will give my broker another call tomorrow to get some feedback from friday's chat with the chief exec. He did say someone from the bank of ireland was going to have to listen in on the call as the company is under offer so I don't expect he's got anything juicy he can tell me.
spiv 1
04/10/2005
16:30
spiv 1

...to enable them to pick up cng at a snip...

All makes perfect sense, if the
planned outcome is an MBO..

katylied
04/10/2005
13:23
What does this mean??
Rule 8.3- CNG Travel Group

RNS Number:1718S
Cantor Fitzgerald Europe
04 October 2005

FORM 8.1/8.3

IRISH TAKEOVER PANEL



Lodge with the Stock Exchange (which may publicise) and with the Panel.

Use separate form for each class of securities in which dealings have

been made.



Date of disclosure 4th October 2005



DISCLOSURE UNDER RULE 8.1(a), 8.1(b)(i) and 8.3 OF THE IRISH

TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2001



Date of Dealing 3rd October 2005



Dealing in CNG Travel Group Plc



(1) Class of securities: Ordinary Shares



(2)


Amount bought Amount sold Price per unit
5,000 0.27





(3) Resultant total of the same class owned or controlled

(and percentage of class) 694,116 1.21 %





(4) Party making disclosure Cantor Fitzgerald Europe





(5) EITHER (a) Name of purchaser/vendor (Note 1)

OR (b) If dealing for discretionary client(s), name of fund

management organisation

......................................................................



(6) Reason for disclosure (Note 2)

(a) (i) offeror or associate of offeror (Note 3) NO

(ii) offeree or associate of offeree NO



Specify which category or categories of associate ((a) to (l) page 3/4)
..............................

If category (l), explain
.................................................................



(b) Rule 8.3 (i.e. disclosure because of ownership or control of 1% or more the
class of relevant securities dealt in) YES





Signed, for and on behalf of the party named in (4) above
..................................................

(Also print name of signatory) Ross Tanton

Telephone and extension number: 0207 894 7214 / rtanton@cantor.co.uk







Date of Disclosure 4th October 2005



Form 8 Enclosure



Cantor Fitzgerald Europe is the beneficial owner of 694,116 CNG Travel Group Plc
ordinary shares. 679,116 of these shares are held to hedge Contract for
Differences ("CFD") positions for clients and 15,000 of these shares are held to
hedge Spreadbet positions between Cantor Index Limited and other clients.



A Long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realise a gain if the price of the underlying securities rises above the
reference price.



A Spread Bet is a product where the client to whom the product is sold can
realise a gain or a loss depending on whether the price of the underlying
security increases above or falls below the reference price. The client's
Spread bet position is described as his "stake". A "stake" is expressed in
pounds (sterling) per "point" and a "point" is the price in pence of the
underlying shares. A client with a "stake" of #100 per point will make a gain
of #100 for every penny increase in the underlying shares and he/she has an
exposure equivalent to 10,000 shares.



A purchaser of a Spread Bet or a CFD contract will realise a gain if the price
of the underlying security goes up. A seller of a Spread Bet or a CFD contract
will realise a gain if the price of the underlying security goes down.



There are no written or oral agreements between Cantor Fitzgerald Europe and any
clients concerning the control of voting rights in relation to the underlying
shares used to hedge the CFDs and Spreadbets.



The CFD contracts are open-ended and there is no rollover into new contracts.


Contracts for Differences Disclosure Date: 04-Oct-05
CNG Travel Group Plc Cantor Reference
Fitzgerald Underlying Number Price
Product Name Date Executed Buy/Sell Of Shares (pence)

CNG Travel Group Plc, Long February 10, 2005 Sell 50,000 100
CFD

CNG Travel Group Plc, Long February 11, 2005 Sell 30,000 100
CFD

CNG Travel Group Plc, Long March 1, 2005 Sell 20,000 84
CFD

CNG Travel Group Plc, Long March 8, 2005 Sell 25,000 80
CFD

CNG Travel Group Plc, Long March 8, 2005 Sell 25,000 80
CFD

CNG Travel Group Plc, Long April 5, 2005 Sell 10,000 63
CFD

CNG Travel Group Plc, Long May 10, 2005 Sell 25,000 55
CFD

CNG Travel Group Plc, Long May 10, 2005 Sell 25,000 55
CFD

CNG Travel Group Plc, Long May 17, 2005 Sell 12,500 53
CFD

CNG Travel Group Plc, Long May 17, 2005 Sell 20,000 53
CFD

CNG Travel Group Plc, Long May 18, 2005 Sell 72,858 54
CFD

CNG Travel Group Plc, Long May 18, 2005 Sell 48,758 54
CFD

CNG Travel Group Plc, Long May 25, 2005 Sell 15,000 50
CFD

CNG Travel Group Plc, Long May 25, 2005 Sell 20,000 50
CFD

CNG Travel Group Plc, Long June 15, 2005 Sell 30,000 48
CFD

CNG Travel Group Plc, Long June 17, 2005 Sell 60,000 33
CFD

CNG Travel Group Plc, Long July 5, 2005 Sell 50,000 24
CFD

CNG Travel Group Plc, Long July 25, 2005 Sell 10,000 30
CFD

CNG Travel Group Plc, Long July 25, 2005 Sell 10,000 29
CFD

CNG Travel Group Plc, Long July 26, 2005 Sell 20,000 31
CFD

CNG Travel Group Plc, Long September 14, Sell 100,000 34
CFD 2005
679,116

Spread Bets Cantor Reference
CNG Travel Group Plc Fitzgerald Stake - # per Price
Point
Expiry Date Date Executed Buy/Sell 1 Point = 1 pence (pence)
December 20, 2005 September 19, Buy 150 35.6
2005

robsy2
04/10/2005
13:11
Drip drip drip of sellers today. Must be playing right into the hands of the potential bidder. Nothing like a nice low share price to enable them to pick up cng at a snip. The lower the share price the lower the bid (imho). If this falls much further I think most holders will roll over and take a paltry 35 or 40p. Basically my message is DON'T SELL!!!
spiv 1
03/10/2005
14:36
I think the low price reflects cng's weak bargaining position. With the cash burn they had, they literally had to get rid of it asap to avoid going bust. I'm told Finbarr's departure to some extent relected the fact that he wanted to keep the Places to Stay part of the busines when clearly the rest of the board did not. Unbelievable to see Finbarr got a sizeable payment for leaving. Must be a reward for all the good work he did (not).
spiv 1
03/10/2005
14:28
One of the links above says...

...As part of the deal, FEXCO will be taking on 48 former CNG staff...

So not much by way of redundancy costs
to help explain the very low price...

katylied
03/10/2005
12:20
One would hope not Katy but then again......
spiv 1
03/10/2005
12:03
So... that is all the bad news finally out of the way.
I mean, these plonkers couldn't possibly
disappoint any more?... could they?...

Right?...

katylied
30/9/2005
18:04
A back-of-envelope calculations gives...
approx 33% of shares at IPO at 103p/shares
approx 33% of shares held by Ross & Smurfitt
at surely more than 10p/share.

That is 66%, so unless I am double counting
or there are alot more shares in issue than
reported (or maybe deferred ones?)
it still seems strange...

katylied
30/9/2005
15:39
Well that's what I was told and the guy was having a conference call with the chief exec this afternoon so I think he's pretty switched on to current events. He is quite restricted in what he can say though for obvious reasons. Perhaps he said nearly 50% of the co ( my memory ain't what it used to be) but anyway its sizeable. He also felt that long term the vc outfit would eventually refloat cng/tzell on a nasdaq listing at 80p plus. Nice money if you can make it but little use to us shareholders who have been well and truly shafted. Personally I've done at least 10 grand on this co so I'm really hoping we'll see at least 40p so I can recoup some of it.
spiv 1
30/9/2005
14:43
Hmmmm... Does that add up? near 50% must surely be in the
hands of later arrivals like Seamus Ross, Smurfit etc.
They didn't pay 10p/share. And how much equity was
issued for the IPO? 50% at 10p seems unlikely...

katylied
30/9/2005
14:01
Spoke to my broker today. I was worried about the co going bust but he assured me that was not likely as tzell is highly cash generative and they have now got rid of the cash burning Places to Stay. He believes a vc outfit will take out cng pretty soon in the 35-45p range. Might have been higher but some of the original shareholders got in as low as 10p pre float and they account for over 50% of the share capital so they still stand to make a bunch of money. Lets hope if it does go its the top end of that range.
spiv 1
30/9/2005
09:44
The 14500 is my sell. I got fed up and don't trust the company. However probably classic mistake, hung on to long though doubtful and then get out too soon. Put proceeds into XKO looks much better prospect now.
trexpert
30/9/2005
09:11
30p to buy now.. add or sell???
latifs100
29/9/2005
16:11
Yep its pretty grim Robsy and I quite agree the co has little future as a quoted company. Lets just hope the takeover/mbo or whatever it is will be sooner rather than later.
spiv 1
29/9/2005
09:10
Take from the notes to the accounts
-------------------------------------------------------------------------------
The Directors have given careful consideration to the Group's ability to
continue as a going concern. The Directors have concluded that a continuance of
such a position in the short term will depend on the continuing support of the
bankers as the group enters a period of restructuring following the sale of the
B2C Division. The Directors have a reasonable expectation that the Group will be able to implement this strategy successfully. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
-------------------------------------------------------------------------------
So the company is pretty well bust so from now on the bankers are going to call the shots.

The grand plans have come to nothing and they are distressed sellers of
what is left.

I cannot see the need for this business to continue in it's present form.
Who needs an AIM quoted, Irish based entity running a NY based travel agency business.It makes no sense to me.

Tzell did EBITDA of 5.1m $US in the last 6 months and the TLC side of things is non profit making but looks to have some potential.

At present the company is valued at £18 million.

I will hold in the belief that this will be taken out by someone at some price.

What I would like to know is who will buy it and how much we will get?


Robsy

robsy2
Chat Pages: 53  52  51  50  49  48  47  46  45  44  43  42  Older

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