Kingspan Share Discussion Threads

[lbo] 01/3/2010 21:21

Downturn still hurting Kingspan

http://www.investorschronicle.co.uk/Companies/ByEvent/Results/Analysis/article/20100301/57e7211a-2534-11df-a2a2-00144f2af8e8/Downturn-still-hurting-Kingspan.jsp

[lbo] 01/3/2010 10:22

It seems Murtagh is a couple of hundred million in the hole and his Kingspan shares are held by Anglo Irish Bank as security! How long before they are dumped on the market and who is going to buy them at 12x EV/EBITDA? Then again who is bidding the shares up today on the back of the company talking of "stability" returning to the building sector? "Stability" won't correct the overvaluation of Kingspan. A feable attempt at a short sqeeze by a desperate company and some even more desperate directors to prop up the shares supporting their loans?

Kingspan revenues decline 33pc

http://www.independent.ie/business/irish/kingspan-revenues-decline-33pc-2084471.html

[pamjim12] 26/2/2010 13:29

No apparent reason fo 2 Day Fall. Must be an excellent buy at current price!

[4pm] 24/2/2010 09:42

what's that in plain english then LBO?

[lbo] 24/2/2010 09:28

Kingspan - FY09 results next Monday (1 March)

http://www.rte.ie/business/2010/morningrep/download/0224bloxham.pdf

FY10 EPS of 23.6c translates into a PE of 25.0x and EV/EBITDA of 11.6x presenting a hefty valuation

[lbo] 20/2/2010 14:22

http://www.examiner.ie/business/court-hears-murtagh-is-insolvent-112640.html

http://www.independent.ie/business/irish/court-told-murtagh-insolvent-as-investors-pursue-8364281m-2071887.html

WELL-known businessman Brendan Murtagh is insolvent, the Commercial Court heard yesterday.

[lbo] 07/2/2010 21:46

http://www.independent.ie/national-news/banks-ramp-up-client-probes-to-claw-back-debts-2052142.html

BANKS seeking to recover debts have begun gathering customer information, with the number of judgement and land registry searches and collation of so-called 'soft information' now running at unprecedented levels.

Clients of the country's banks and building societies are coming in for ever-increasing levels of scrutiny.

[lbo] 06/2/2010 18:15

http://www.irishtimes.com/newspaper/finance/2010/0206/1224263881422.html

Among the other losers were insulation group Kingspan, which fell 4 per cent on overvaluation concern

[lbo] 30/1/2010 16:18

http://www.independent.ie/business/irish/murtaghs-worth-has-plummeted-in-three-years-2040361.html

THE net worth of Smart Telecom purchaser Brendan Murtagh has fallen from more than €200m to about €3.5m in three years, it was claimed in the Commercial Court yesterday

Murtagh's rough ride

http://www.irishtimes.com/newspaper/finance/2010/0130/1224263433600.html

http://www.irishtimes.com/newspaper/finance/2010/0130/1224263433448.html

If figures revealed in yesterday's court proceedings against Brendan Murtagh and others are to be believed, the Cavan businessman has been having a rough ride for some time.

According to the information put before the court, his net worth plummeted from more than €200 million in February 2007 to just €3.5 million a year ago. And given how unprofitable the past year has been for most, the trajectory is unlikely to have changed in the meantime.

[lbo] 28/1/2010 19:27

http://www.irishtimes.com/newspaper/ireland/2010/0128/1224263290420.html

A GROUP OF private investors have claimed that businessman Brendan Murtagh and two others engaged in a "ruthless exploitation" of court procedures with the result of delaying to yesterday the securing of €28.1 million judgment orders against the three over failure to honour agreements related to Polish property investments.

Mr Justice Peter Kelly said the significance of the delay was the Educational Building Society got in first as it obtained judgment for €33 million last Monday against Mr Murtagh, Kingscourt, Co Cavan, Greg Coughlan, Ardbrack, Kinsale, Co Cork, and Brian Madden, Well Road, Douglas, Cork. The three now have judgments of more than €61 million against them.

[lbo] 26/1/2010 10:07

Would you getting into trouble with the Banks effect your work? Especially if you had secured your personal loans against the shares in the place you work and given personal guarantees!? So although Kinsgpan has net debt of over €230m it seems its major sharheolders have big debts aswell.

http://www.independent.ie/business/irish/executives-pledged-8364185m-in-shares-for-personal-loans-1613931.html

Brendan Murtagh pledged his entire shareholding against bank loans. Those shares are now worth almost €12m, having been valued at up to €113m at the peak

[4pm] 26/1/2010 10:05

But could the unpaid loans affect Kingspan?

[lbo] 26/1/2010 09:59

http://www.independent.ie/national-news/kingspan-workers-to-strike-over-companys-survival-plan-2031359.html

MORE than 100 staff at the building materials giant Kingspan are to stage a strike in protest at a survival plan put forward by the firm

[father o toole] 26/1/2010 09:55

keep up the good work lbo

[lbo] 26/1/2010 09:55

EBS secures €33m judgment against two businessmen

http://www.irishtimes.com/newspaper/finance/2010/0126/1224263115724.html

THE EBS Building Society has secured summary judgment orders for €31.7 million, plus interest of more than €1.6 million, against Kingspan co-founder Brendan Murtagh and another businessman over their failure to make certain payments under a settlement agreed last year in proceedings brought over unpaid loans for land developments in Co Cork.

[lbo] 26/1/2010 09:54

LBO - 29 Jul'09 - 17:11 - 95 of 145 edit

http://www.independent.ie/business/irish/executives-pledged-8364185m-in-shares-for-personal-loans-1613931.html

Brendan Murtagh pledged his entire shareholding against bank loans. Those shares are now worth almost €12m, having been valued at up to €113m at the peak

[4pm] 25/1/2010 21:29

So are you guys trying to say that this may affect Kingspan as a business even though Brenden Murtagh sold his share of Kingspan? Please explain these threads.

[lbo] 25/1/2010 20:16

http://www.irishtimes.com/newspaper/breaking/2010/0125/breaking64.htm

The Educational Building Society has secured summary judgment orders for €31.7 million, plus interest of more than €1.6 million, against Kingspan co-founder Brendan Murtagh and another businessman over their failure to make certain payments under a settlement agreed last year in proceedings brought over unpaid loans for land developments in Co Cork.

Mr Justice Peter Kelly noted the terms of settlement had included a proposed raising by the defendants of $60 million dollars in funds and the handing over to the EBS of a painting by artist Jack B Yeats entitled Looking towards the lake. That painting was handed over but the fund-raising had not been completed to date, he was told.

[lbo] 25/1/2010 20:12

SIPTU serves strike notice on Kingspan

http://www.fxcentre.com/news.asp?2544063

[father o toole] 25/1/2010 12:49

short from 631, looks like double top into the bargin.

[father o toole] 24/1/2010 21:28

interesting lbo, iam getting ready to pull the trigger on this one again.

[lbo] 24/1/2010 21:26

http://www.tribune.ie/business/article/2010/jan/24/brendan-murtagh-among-group-ordered-to-pay-1m-in-p/

Leading businessman Brendan Murtagh and former co-directors at Howard Holdings have been ordered to pay €1m in damages in a property dispute about lands owned in Mallorca.