Croma Grp Share Discussion Threads

[moreforus] 02/3/2012 08:33

its 1.5p...

75p divided by 50...

but whatever we will see

[mildred49] 02/3/2012 08:31

some good analysis there thanks

shame on the company and their advisers, this smells of typical AIM fleecing of small shareholders

[dmhzx] 02/3/2012 08:18

My apologies, I can't do simple maths, and the company statements haven't helped at all. 666.67 million shares raising £4.1 million net of expenses is 4 / 666.67 per share, is .67p per share.

If we add on some expenses (which I got fed up looking for in the company's statement), the amount raised was about £5 million. - or about .75 pence per share.

But in any case well under 1p.
This is the first placing I've seen where the company has not been open about the price at which shares were placed.

but in any case, I make this more than a 50% discount. and I still say that once again the board has stolen the company.

moreforus - I did own until recently, and you will own much less of the company than you did. I hope it goes well for you, but I don't think it will.

[cufes2] 02/3/2012 08:16

I held until yesterday . . . they will increase the number of shares in issue from 3,786,753 to 14,502,532 . . . sure they have raised £4.1m in cash and converted some debt . . . but they're giving away another 3,282,447 consideration shares . . . you can't just value the company on the placing price IMHO . . . not for me now but good luck to anyone else in it . . .

[moreforus] 02/3/2012 07:59

what is this ? first trolls club

does anyone posting apart from me here actually own CMG?

ermmmmmmm

didn't think so

[mildred49] 02/3/2012 07:58

so actually 11m new shares raising £4m isn't that about 40p each and divide by 50 you get 0.8p / share ?

[mildred49] 02/3/2012 07:57

actually number of shares goes from about 3m to 14m that is huge amount of dilution and they look like they have tried to cover it up/use sophistry to present it in a different angle

i would not trust these guys as far as i could throw em

[27howard] 02/3/2012 07:56

You reap what you sow moreforus, having a go at others for buying into a stock
that does a discounted placing, all that ramping by you and topinfo here and yet another stock that crashes, quite a impressive track record and i've only been
here a few months.

[dmhzx] 02/3/2012 07:45

Yes, I can do simple maths based on actual facts, and on speculation.

Actual facts are the number of shares placed and the amount of money raised. - which I made 1.2p (and if my maths on that are wrong, please let me know).
75p is based on someone who is trying to sell you something telling you a number thay pulled out of the aird. --- Not unlike the pound shop selling socks with £5.99 on the printed label).

And yes I think the price will continue to collapse, just like nearly every other AIM consoildation for the past five years. (see Screen/Pettards). 20 p by June is probably not on, but I'd be surprised if they are over 50p (1p in today's money)

As to price collaps, I sold at 2.5 p a couple of weeks back. The price has dropped from 2 to 1.5 (near nenough) since this announcement. And I think will fall further when more poeple do their maths based on fact rather than some guess by a marketeer,

Florentine will hold as nearly half as much of the new company as all the exisiting shareholders; and why has the company not made very clear what the placing price was, and why werre existing shareholders were frozen out.

If you're happy to invest in a company that hides the placing prices, virtually doubles the number of share in issues, consolidates and is already on a PE ratio in the stratosphere, then please do so. - I'm happy with my 40% or so profit this year.

[ashtree2] 02/3/2012 04:58

I was disapointed that the price of the placing was not stated by the company and for that reason sold yesterday.Will wait on this one as will drift imho.

[moreforus] 01/3/2012 20:55

Do you have some kind of inability to do simple maths?

75p divided by 50 is 1.5p NOT 1.2p

So you are saying that you'll buy back at 20p in a few weeks so the price is going to collapse according to you from 1.55-1.7p to 0.35p.

Sure mate.

[dmhzx] 01/3/2012 20:49

The 1.2 p placing is a straight calculation of the number of of shares placed, and the amount to be raised.
The 'estimated' market cap, is a bit of imaginative propaganda.
This bloke wit hthe Italian name ends up with the same holding as half the current (frozen out) owners.
This is theft, the price will drift, and after consolidatio at 50 to 1 will soon be down to 25p.

Not long go Galvan were ramping this like there was no tomorrow. Presumably so that thos in the know couls get out at a profit and use the proceeds to get in at the undercut placing price

I repeat: Glad to have got out at a profit with 2.5 p a couple of weeks back.
MAY get back in when the new ones hit 20p. (say early June)

[rich2006] 01/3/2012 17:23

You wait weeks for an RNS
Then you get 4 all at once

[rich2006] 01/3/2012 15:12

Has anyone worked out the total cost for CMG for the take over.

Consideration shares 3,282,447 times 0.75p = £2,461,835.25p
initial payment cash £2,000,000
post completion trading upto 717533 shares = £538149.75p
net assets payment unknown
earn-out consideration cash payments capped at £1,200,000 in aggregate.

Giving a total possible cash value of the takeover .........
£6,199,985
£6.2m in short

please double check my figures because i do have fat fingers occasionally.
DYOR

[moreforus] 01/3/2012 13:20

mildred49 - 1 Mar'12 - 13:16 - 2706 of 2706 (Filtered)

[mildred49] 01/3/2012 13:16

how very rude and uncalled for

[gantenbrink] 01/3/2012 13:00

This arrangement will have been a while in the planning so 1.5p does not seem too bad a price for the placing as it probably represented a slight premium from where the price was when they started out. A bit lower than the price of the last 3 or 4 weeks but I suppose it has to be attractive to lure institutional investors. If the Directors also have a good stake that bodes well too.

It would be great if none of the placing ends up on the open market.

[moreforus] 01/3/2012 12:42

no it looks like this poster was telling lies to force people to sell

absolute pondlife and it;s not been the first time

"mildred49 - 1 Mar'12 - 07:45 - 2693 of 2703

1.2p placing apparently.

6.66m shares to raise £4M

so 60p each and then 50 for 1 consolidation so = 1.2p ?


"apparently" suggests you had "heard" something but in fact you just made it up....

filtered scumbag

[mildred49] 01/3/2012 12:36

oops looks like my maths was wrong but it was very naughty of the company not to make it clear in the first place

[moreforus] 01/3/2012 12:03

Nick Rubens - 1 Mar'12 - 12:02 - 71622 of 71624

CMG looking OK. placing is at 1.5p and one director will then own around 22% of the enlarged company.

[moreforus] 01/3/2012 11:50

thanks

so at 50 to 1 75p is = 1.5p not 1.2p.....

someone looks like they were telling lies

[yf23_1] 01/3/2012 10:56

So where's the financials for these companies we're taking over ?
Are they making a profit or loss ?

[varies] 01/3/2012 09:52

I have had a small holding for many years, bought at about 5p.
In recent years Croma has been too small to accomplish anything beyond paying salaries to the directors and this deal does at least mean that there could be some profits left over.
Consolidation of 50 shares into 1 will probably be followed by a gradual decline from about 60p but the new shares could be tempting at below 50p once the shape of the new group is more apparent.