Cradle Arc Share Discussion Threads

[the prophet] 21/1/2015 15:36

Note it doesn't mention MMI group, where he was parachuted in by M&G, MMI went into administration on PC's watch, mainly , as I understand it, because agreement could not be reached between david Best, former chairman, and Cartmell/MMI bod on Best's compensation.
I would have thought that PC's diplomacy skills would ahve won the day there, but, who knows, it could have been one of those impossible to solve situations.

If someone could start that new thread soon, cheers.

[paulgo] 21/1/2015 15:21

From the Corac website:

Phil Cartmell was appointed to the Board in September 2009. He has a highly active career in business, having formerly been Chief Executive of Vega Group plc between 2001 and 2008, where he grew the Company into a leading European aerospace and defence business. In February 2008 Vega Group was acquired by Italian multinational, Finmeccanica, for a substantial premium. He was the Non-Executive Chairman of Alterian plc a leading provider of Global Information Management solutions until its acquisition by SDL plc in January 2012. Phil has served as a Non-Executive Director and adviser for a number of companies and is currently a Non-Executive Director of CSF Group plc (Malaysia).

I don't know what the share price at Vega was when he took over or what it was when it was sold for 'a substantial premium' but you can bet there weren't the same complications there as when he took the reigns at Corac where he has effectively been fire-fighting for the last 5 years. There seems to be parallel with the defence connections at Vega as there are now with Corac, so it appears PC is following a previously successful formula. Let's hope from here with a similar outcome.

It certainly doesn't read as a bio of someone without ambition or ability and who's in it just for the salary.

[meijiman] 21/1/2015 13:55

doubt it -this is a management lifestyle company -spin it along as long as you can without falling off -getting booted out. who is the Chairman? Shareholders -private-seen as irrelevant. Perhaps if the ceo had dropped 38k he might feel differently.

[timmbo] 21/1/2015 13:05

Are we moving into profit now?

[meijiman] 21/1/2015 10:34

Well done on that one then. For sure no loss crystalised till shares sold. The idea that this share is now going to make you good money is long gone -you might make a bit once it moves into profit and gets re-rated on earnings.

[the_doctor] 21/1/2015 10:34

If the DGC and IGC are now out, any thoughts on the commercial potential/ value of the other CET projects then?

My expectation after the news was that this would drop sharply since there was surely still some hope in the DGC and more in the IGC with Saudi Aramco.
Given it didn't, there's presumably a general view that the other CET projects will produce something meaningful.

[hector1001] 21/1/2015 10:16

Only painful if I sell which I have no intention of doing.On the bight side
have made good money on another investment.

[meijiman] 21/1/2015 08:53

Hector -ru saying you invested £38,000 in this ? That's a painful hit to be sure.

[timmbo] 21/1/2015 08:22

Watching CET website closely today.

[timmbo] 21/1/2015 08:22

BP and Tullow projects are still on the go if you 'extrapolate' from the rns.

[ricardo125] 20/1/2015 21:50

Although we dont know yet know how disastrous this is as there were other compression projects such as the bp one. It will all become clear in april.

[hector1001] 20/1/2015 21:15

For me personally and a few other long time holders this a disastrous RNS. Not what I was expecting. Not the Company I invested in.

On the bright side my great grandchildren might recoup my investment of 100,000 @ £0.38 and be able to buy ....... not sure perhaps a weekend in Brighton in a no star BB.

[secretsqu] 20/1/2015 15:54

Do you really need an answer to that one Doc?

[paulgo] 20/1/2015 15:54

No doc.....I haven't got the time for an argument! :o)

[the_doctor] 20/1/2015 15:46

Any thoughts on whether the large inst seller (and buyers) recently were already fully informed about the decisions to drop the DGC/IGC?

[paulgo] 20/1/2015 15:39

That's a good point happysnap.

I also think we'll see a director buy or two announced over the next couple of days.

[happysnap] 20/1/2015 14:39

'Joint decisions have now been made to cease projects in the United States, Italy and Saudi Arabia', no mention of the platform versions of IGC on the BP Trinidad & Tobago platform or the Tullow Oil North Sea platform. 'All our other oil and gas activities are progressing as planned', so maybe IGC is still alive after all.

As usual not enough detail in the RNS. CET website been down all day so maybe we will get a better idea when it's back up.

[timmbo] 20/1/2015 14:37

On platform compression, Tullow Oil.

[ricardo125] 20/1/2015 14:15

Does the latest announcement mean the BP compressor is still alive!

[ricardo125] 20/1/2015 14:13

This thread title sums up where we are right now! Don't you think?

[the_doctor] 20/1/2015 13:40

The_Prophet
'I've outlined the facts re Cartmell'

you've outlined SOME facts re Cartmell, but you're a) taking a one-sided view of them and b) ignoring other critical facts.

I'm not asking you to argue. I've put your blinkered views straight and you either accept it or you don't.
You're simply hiding from reality in an effort to blame PC

The key facts are
- PC inherited DGC, which was a very challenging project
- He continued to invest in it, prudently not taking on too much of the risk
- He diversified away from the DGC/IGC and as a result you now have some of your investment left rather than none.

If he's stuck only working on the DGC/IGC as per Musgrave's company, this would have ended up like Vialogy. You reacted angrily to my rational views there too - I warned bulls all the way down from 8p to near zero!

[bossman1978] 20/1/2015 13:23

That's what I don't understand. What is our oil and gas interests now?