Ennstone Share Discussion Threads

[vatteton] 22/9/2008 16:53

The true revalued NAV is 55p less whatever, My best quess is 30p top whack and way below my 43p average. Should have got out at 52p

[vatteton] 22/9/2008 16:53

The true revalued NAV is 55p less whatever, My best quess is 30p top whack and way below my 43p average. Should have got out at 52p !!

[maccack] 19/9/2008 15:29

would i be correct in thinking enn are asset rich but v cash poor.
thought assets were revalued recently way above current sp, but obv that doesn't take into acct of debts.

[gco1133a] 19/9/2008 14:33

No way this gets sold for twice the current price. More like 17/18p if you're lucky. The NAV value on ADVFN is obviously out of date, trading conditions are very poor and they have said they either need to do a rights issue or sell assets.

[kallista] 19/9/2008 13:42

ADVFN showing net asset value just shy of 40p - takeout price should be at least double current price - I think.

[palwing] 19/9/2008 13:38

RW Me too?

[roadwalker] 19/9/2008 12:48

Your guess is as good as mine palwing, it is still early stages of discussion and may not materialise.

BARC------- well haven't I done well, went back in on the 11th and 15th with a third tranch yesterday at 3.01; about time I had some luck!!!!!!!!

[palwing] 19/9/2008 11:55

So what would price would a bid come it at?

[roadwalker] 19/9/2008 10:08

Although this is not the road I wanted ENN to take I suppose under the current climate this proposed deal would at least guarantee the probability the existing workforce would have a job.

I have always been a loyal shareholder to ENN but I know there have been problems in the past with thoughts directed to the CEO but overall the Company's concept has been excellent. The Company does not deserve to be where it is today.

[kallista] 19/9/2008 09:48

Thanx Times.

Thanx Bodgit.

If it were not for the p22. snippet this co. would not have issued a statement.
Looks like the negotiations are further down the road than the company are letting on. The fact that McLeod is to resign probably means that he is out on a limb with the rest of the BoD backing a takeover.

[elmfield] 19/9/2008 07:54

thx for that.

[bodgit] 19/9/2008 07:50

FT today p22. Ennstone starts takeover talks. Marwyn Materials are in the frame. Could be an interesting day. Good luck all.

[roadwalker] 15/9/2008 17:07

VATTETON - Plea------------se don't go for long we need your support!!!!!!!; I'm on my third glass of Red. A very difficult day but surely were expecting it in this present climate. A show of strength would now be for the directors to purchase a few Shares so that us would follow and show our support. Long--------------------------------Term I feel is on the cards now.

[vatteton] 15/9/2008 15:55

I'm going outside, I maybe gone for sometime. (Oates)

[bodgit] 15/9/2008 07:21

Oh dear. On a day the market is likely to take quite a tumble, ENN may struggle somewhat! Is that the fat lady warming up I hear?! Good luck all.

[roadwalker] 09/9/2008 14:25

At long last a little interest in the Stock, has anyone any ideas the reason for it?

[mw8156] 01/9/2008 19:32

The other problem is that margins are very thin and working capital requirements are high; they spread themselves too thin; in too many countries and trying to advance on too many fronts at one time...

[shawzie] 01/9/2008 10:59

From Interim Results :-

"The Company is considering a number of options - - - - there can be no guarantee that any such options would be successful - - - casts doubt on the Company's and Group's ability to continue as a going concern - - -"

Strip out "Goodwill" and the NTAV is around the current share price

The Company has been paying inflated prices for the purchase of assets
in recent years and should have been more prudent in use of cash resources.

If the nominal value of ENN shares is 25p and the current share price is 15p, could the
current shares be split and issued as 10p shares? A further rights issue could then follow at say 12.5p to raise additional funding.

The real problem is - can management be trusted to use cash to reduce debt?

[vatteton] 30/8/2008 12:20

Couple of interesting trades just after Friday close, both O buy trades for 1,5mll each, one of which was cancelled and that one had conditions.

[vatteton] 28/8/2008 09:57

When i said earlier they saved 1.2ml by cutting the divi, this was incorrect, what i should have said is, they reclaimed the 1.2ml which was paid against the last rights issue.
The problem for managment now is, if they raise another rights, what price are they going to pitch it at with the share price at these levels.
The revalued assets look good, but only worth what anyone is prepeared to pay.
It's certainly hard hat time for the next 12mths or so.

[gco1133a] 27/8/2008 22:40

Management are pretty incompetent. During the boom years they issued loads of paper and failed to grow eps. Now they are talking about selling the assets they bought last year and having another rights issue. Incredible!

[roadwalker] 27/8/2008 17:57

VATTETON, I agree with you entirely that Directors should show that they themselves believe in the Company and its future by further buying into ENN. I for one would most certainly purchase additional stock.

Personally I am a LONG TERM holder and believe there is a huge future for ENN and would expect a rise in Share value as and when we see confidence return, this of course could well be into 2009-10.

[vatteton] 27/8/2008 14:47

RW. On Aug 11, the company had said it agreed revised covenants for its U.S.
facilities, which are likely to require an additional injection of funds of
about 11 million pounds by the end of this year, which may be found by way of
asset disposal or other means.
Well they've just saved 1.2ml on the divi, with the falling pound i just hope they get what they paid with our last rights proceeds if its going to be US assets.More paper thats what we need !!!
Perhaps i would like to see somemore director buying at these levels,perhaps i would follow.

[whackford] 27/8/2008 08:21

No decision yet on rights issue, then.

[roadwalker] 27/8/2008 08:20

VATTETON - they certainly do too what with the Interim payment being halved, although expected in the current climate.