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Share Name Share Symbol Market Type Share ISIN Share Description
Crystal Amber Fund Limited LSE:CRS London Ordinary Share GG00B1Z2SL48 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 105.00 104.00 106.00 105.00 105.00 105.00 6,970 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 3.3 0.3 0.4 276.3 93

Crystal Amber Share Discussion Threads

Showing 451 to 475 of 625 messages
Chat Pages: 25  24  23  22  21  20  19  18  17  16  15  14  Older
DateSubjectAuthorDiscuss
06/12/2019
10:41
An excellent, frank and no-nonsense new piece of research issued this morning by highly-regarded Edison Research on DLAR. Big negative changes to Edison's prior earnings forecasts. Uncomfortable reading. To say the least. ALL IMO. DYOR. QP
quepassa
04/12/2019
09:28
For those with long memories, the CRS stake in DLR may or may not remind one of the RAB Capital ill-judged purchase in 2007/2008 of a major stake in Northern Rock when NR was subsequently nationalised. Let's see what mercurial fate holds in store. ALL IMO. DYOR. QP
quepassa
04/12/2019
09:19
Well, CRS have made a large bet on a highly, highly risky situation in my view with their massive 14%+ stake in DLR which shows increased debt, "material uncertainty as a going concern", a pension deficit and an SFO investigation into the Sudan affair to name but a few of DLR's challenges...... ...as DLR spell out in their recent RNS, their borrowing levels and net debt to EBITDA ratio were "significantly higher than forecast" with the latter ratio at 2.72x bumping up towards the 3x Covenant, not leaving a lot of headroom. The question is whether the drip-drip-drip-drip of ongoing negative news and events will suddenly stop........I know what I think. With so many top managerial departures this year, it remains to be seen what other surprises may or may not surface as the business is reviewed by new hands. De la Rue is in my opinion a strange beast and a secretive company. ALL IMO. DYOR. QP
quepassa
03/12/2019
15:43
CRS have doubled DLAR holding, as was rumoured in the press. With them and the directors buying, have to wonder if anything else is holding it up! The Going Concern comments def a worry, and it's a long way to 0p.
spectoacc
03/12/2019
08:17
My cash calculation is as following: 1. As at 2/12/19, they have 99,499,762 shares in issue 2. As at 8th NOVEMBER 2019, Cash and Accruals represented 0.8p per share as per their November monthly NAV statement. Therefore melding these two figures we get a cash+accruals figure of approx. £795,000. We don't know how much money has been spent/come in since November 8th but my guess is that the £795,000 won't be a million miles away. Additionally, it is not clear which part of the £795,000 would be cash and which would be accruals. We do not know the timing when the accruals would be received. Either way, it doesn't look to me like they have kept a lot of their cash/accruals powder dry for further attacks. However, it is not clear to me how they would have financed the rumoured additional 7% stake in De la Rue if those press reports and speculations are correct. The market cap of DLAR has been fluctuating of late but, for sake of argument, let's take a rough figure of £135million. And 7% of £135m is about £9.45m. So, if they did buy that speculated DLAR stake, I don't know where the cash would have come from unless they liquidated a chunk of their portfolio. Interesting one to watch. But some of their important holdings have been under the cosh of late. Please verify/check all figures for yourselves. ALL IMO. DYOR. QP
quepassa
03/12/2019
08:01
Instead of using spare cash on buybacks ,they should give it to their employees.
gary38
03/12/2019
07:23
Not sure what CRS's cash position is, but with a huge stake in ALM now, and losses on NTG, DLAR, HUR, and only the buybacks holding the share price up, wondering how much averaging they can actually do?
spectoacc
03/12/2019
07:14
Hurricane Energy will find support at 20/25p ,where l think will be a good entry point,target 40p,just following Richard Bernstein style of trading he does ,especially towards Hurricane Energy.
gary38
02/12/2019
13:49
dlar DOWN 10p/6.5% on the session
quepassa
02/12/2019
08:28
Several press reports at the weekend suggest that CRS are doubling their stake in De La Rue from 7% to 14%. See FT for example If this is so, they must be crazy in my opinion - what an over-concentration of risk for such a small fund. I think they are playing with fire if they double their stake in DLAR which is a very peculiar and secretive company - and one which plays a special role in the UK - particularly so at the hour of Brexit. ALL IMO. DYOR. QP
quepassa
02/12/2019
08:09
It's almost enough to make me fear for my large ALM position but - CRS's largest holding is HUR. They really can pick 'em, down c.20% this morning.
spectoacc
29/11/2019
15:37
Well, they can argue they cut a bit, but they still have c.7% of....NTG. The latest dodgy call (down 11% on REDD merger).
spectoacc
26/11/2019
08:41
CRS have their heads up their own backsides. Talk like they have influence but achieve zilch.
p1nkfish
26/11/2019
08:02
DLAR flopping again I see - interesting how close the French came to buying it a few years ago, and how seemingly uninterested they are now!
spectoacc
26/11/2019
07:18
De La Rue. What a stinker of an investment. They have today cut their dividend to ZERO, citing "MATERIAL UNCERTAINTY" as mentioned in DLAR's DIRECTORS REPORT:- " Therefore, we have concluded there is a material uncertainty that casts significant doubt on the Group's ability to continue as a going concern. In mitigation the Directors have suspended future dividends and management is focused on delivering the Company turnaround plan." TIMBER>>>>>>>> EARLIER THIS MONTH CRYSTAL AMBER INCREASED THEIR SHAREHOLDING FROM 6.25% in DLAR to a whopping 7.12% AS AT 15th. October, DLAR was Crystal Amber's 5th. LARGEST SHAREHOLDING. ALL IMO. DYOR. QP
quepassa
15/11/2019
07:37
The buyback holding it up it seems.
spectoacc
14/11/2019
15:27
@flyfisher - particularly when CRS bought c.6% of Woodford's. Seen no other RNS's yet as to who took the rest, but was a big series of transactions so thresholds may not have been crossed (unlikely). I still think the lack of action from CRS and their words on 13th Sept don't match up BUT I'm very suspicious of the radio silence from ALM on the distribution - I think there's something going on behind the scenes, which if it includes a larger share of the proceeds and a renegotiation of the preposterous management incentive, would make me very happy indeed. I note 9.71% voted against the disposal, on a 72.26% turnout, which would match closely with CRS's then holding of 7.14% (9.71% protest vote = 7.44% holding in ALM by my maths), and would be a slighly pathetic protest vote. Particularly when that same 72.26% turnout then voted nearly 100% for share capital reduction that enables the distribution! Dunno, jury out, but I'm very long ALM and not long at all CRS. But I guess there's a point at which they're a buy for me.
spectoacc
14/11/2019
15:24
Specto, ''been waiting more than long enough already! Don't know what's stopping them going further.'' They only took a holding just prior to the AGM and probably did not have sufficient time to rally supporters. Also at the AGM the board made a preemptory move and got rid of jill smith, ended a LTIP and restructured, which may have placated some holders. Maybe woodfords mind was elsewhere. With the woodford stake now moved on i see it as being the time for action from CRS. Good luck.
flyfisher
14/11/2019
15:17
DS2, Thanks for the links, which surprise me as CRS actually divested about 6% of LEAF in the run up to redemption, as can be seen in LEAF holding RNS. https://uk.advfn.com/stock-market/london/leaf-clean-energy-LEAF/share-news/Leaf-Clean-Energy-Company-Holdings-in-Company/81028259 Perhaps their opinion changed between sept and october. Leaf is currently a conundrum as they have guided a final return and distributed over 99% of it, without producing an explanation of two residual investments with a book value of circa £1m, given that only 114k shares remain in issue, it is unsurprising that nomura took 30% immediately on requote xdist. I tried to add but am locked out as a PI as their is no KID. With a market cap of 114k and yet holding several million for tax, provisions and a staggering 1.3m wind up estimate, i wonder if someone could close it down at a lesser cost.
flyfisher
14/11/2019
14:16
Thanks, that is good background - just seems to me that CRS were a bit surprised at the 122p final valuation at LEAF - they were stating that they thought the final valuation was higher than 150p and were bidding in the market at 140p in September. Probably not down to LEAF management then and just miscalculation by CRS on administration & bonus costs. https://twitter.com/CrystalAmberRB1/status/1174966051966078978 https://twitter.com/CrystalAmberRB1/status/1174993626394480641
dangersimpson2
14/11/2019
13:59
@flyfisher - been waiting more than long enough already! Don't know what's stopping them going further. Bear in mind it was back in April when they suggested they take over running it down, with a bonus of 10% of anything over 80p. We're now in November, tho in early September CRS said: "The Fund believes that the scale of share price discount has not been addressed by the board of Allied Minds and therefore intends to take appropriate action. " Again - now November, tho I accept they've only recently gone over the 10% threshold. Also hadn't realised how rarely CRS go down the EGM route - twice in 10 years apparently. But good luck getting the boneheads at ALM to listen (I'm very long ALM, fortunately not at £7). (As an aside - despite everything having been passed, no word yet on the ALM distribution).
spectoacc
14/11/2019
13:52
CRS installed the wind down manager Mark Lerdal at LEAF, along with the incentive scheme, so they would hardly complain at the fees for a successful outcome. I would guess that they will attract some support from recent buyers, in their attempts to bring decent management and an appropriate fee structure to ALM. Whilst it is a different beast, CRS are trying to do the same at ALM as they did at LEAF. Invesco supported the wind down motion at LEAF, maybe they will do so at ALM. I don't expect we will wait too long before an EGM.
flyfisher
14/11/2019
13:46
Thanks ds2, a considered reply, much appreciated. As a reasonably sized holder of HUR myself that was certainly one of the more interesting holdings to me. I also quite like NTG, though not a holder at the moment. However, I was a tad worried about the DLAR holding amongst others. Anyway, perhaps there is enough built in to the price with the discount to NAV now/at some point. Will be interesting to see how this pans out.
cwa1
14/11/2019
13:07
Thanks. Re: ALM - they are picking up stock but it is still not a large % of the fund - I would hope they manage to take on the management here to remove their ridiculous bonuses. They destroyed almost all of the shareholder value in ALM over the last few years (although ALM was clearly massively overvalued by the market at £3+) and then they have one successful investment in the last year so they pay themselves a big chunk of the upside of that investment as a bonus without netting off any of the massive losses they endured. Imagine an equity fund paying bonuses based only on the successful investments rather than the overall total return of the fund - it would be crazy! Yeah, LEAF was a great return overall but a bit disappointing in the end - LEAF appear to be holding a fair amount of cash back to pay administrators and management bonuses - as galling as this is I don't think CRS will be able to do much about it - even if they can get the stock to go above 30% in the market, make a mandatory offer and sack the management then they will still have to pay the administrators their exorbitant fees and management bonuses are probably already contractually bound. They probably have to leave this one and accpet they did well out of it.
dangersimpson2
14/11/2019
12:49
DS2, Good analysis. I would add that CRS received their final distribution from LEAF earlier this week, which completed an excellent return of around 300%. Already in the price however.
flyfisher
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