Member Info for Broomfielder

Actually the initial rating by Deutsche who initiated their coverage of CBG with a 'buy' rating and a target price of 610p having due recognition of the headwinds facing the Group and if course others.

Been a fair old tick up in Sp this week if maintained into the close.

Yes, as many have said, this is AIM and we are all continually playing catch up to the (few) that always seem to be in the know.

However, CPX has excellent products and now, some serious players involved in running the show which will now make a big difference and have at least for the shorter term, sorted their cash flow issues.

More plusses for me on this one.

After recent stellar gains in the SP, an AIM share invariably heads South Big time as the 'hot' money finds a new home to gamble on.

Despite this, I have rarely been so confident that more is to come from the SP (appreciate I am not alone in this view) with the upcoming Corporate presentation awaited with some excitement. Another 'first' for me!

I have a distance to go before breaking even on this share, but as I say, I have rarely been this confident of achieving that particularly after the latest RNS.

GLA

Despite having various forms of insurance cover with DLG since the mid 1980s when it was established by P Wood, I was surprised to find the Group declined to quote for my requested car insurance renewal.

I appreciate its only anecdotal evidence but having quizzed a number of friends, they variously indicated a similar response was obtained not only for car cover but in some cases, for home/contents cover as well.

As we are all either already or close to retirement, this would appear the only common 'link' if there is one. We all tend to have long records of no claims in either types of cover and have tended towards loyalty rather than routinely switching insurance company at every renewal.

Clearly, DLG appear ( on this albeit limited sample) to be going down a different road, so to speak.

Whether ramping or not, it's rare in AIM imo that there is actually a basis for these 'optimistic interpretations' of CPX's fortunes moving forward.

The last RNS in my view was as uplifting as it was unexpected in many ways. We hoped it would happen but rarely does it ever happen.

We now have a real base to build on but it's up to the Co to keep shareholders fully in the picture. There's clearly a groundswell of support building.

Whilst understandably everyone is talking about today's stellar recovery in the SP, the main reason for longer term confidence in PI's is that today's RNS largely confirms what most were hoping would happen after the redent Placing.

It's quite one thing to (rightly) point out the ridiculous level of discount the Placing was agreed, the absurdly low Market Cap and the fact a certain experienced and well respected Party was buying up shares at open market prices, but quite another to see structured appointments at Board level of experienced and multi skilled personnel enabling a complete change in Company focus.

Sure, tomorrow may see some retrace in the SP but I think that will be short lived as there is now real hope and belief that Cpx can finally makes real strides forward and achieve real commercial success from their leading products.

We need to see performance hurdles being achieved but finally it looks like the Company has a real base to move forward from.

Could almost be viewed as a 'softly siftly' internal Takeover imo, but it certainly looks as if Cpx restructure is taking shape with this being fashioned as a properly based re-launch.

There is still a very long way to go, but the latest RNS clearly sign posts the measured approach being taken. This must be very welcome to existing shareholders given some of the hype we have so often seen in the past.

All very positive imo but acknowledge we still have a lot of information gaps to gauge a more analytical decision.

I'm not aware of anything new or specific by way of updates or news which has given rise to today's drop in SP but iIts all the more noticeable off the back of a steady decline in price back to levels which could soon challenge 'all time lows' I thought we had seen the back of.

Other than seeing CBG's name increasingly often in various adverts for intermediaries looking to act for clients who have been 'mis-sold' car finance deals, I am somewhat surprised by the SP's recent downturn.

Perhaps the uncertainty of the G Election is weighing more heavily on certain areas of industry.

...I go, was of course the title of a rather well known song.

But as far as CPX is concerned, I guess that like so many other lth's, there's little point in selling up at these sort of SPs, so I will be staying for the foreseeable future.

I would like to say I have a strategy for eventual exit, but rather like Premium bonds, I will forget all about my always modest but now worthless CPX holding.

Babarusa - While most shareholders will be hoping the situation you outline will indeed come to fruition, including myself, I rather doubt the SP will get anywhere close to £5 in the run up to (whatever date is chosen for) the Gov's exit.

Banking is inherently cyclical, and whilst NWG have delivered profits very much in line with forecasts, there's little doubt that with likely increasing pressure on interest rates feeding through to BoE finally signalling cuts later in the year, this is likely to place the 'usual' squeeze on (interest) margins going forward.

The SP has outperformed in recent months and without doubt, the prospect of some form of incentivised share purchase being offered by HMG, has /is playing a part.

Once the disposal terms are publicised, there could be a bit of a retrace (imo), should investors not view the terms to be as generous as hoped.

However, for serious investors, the fundamentals remain favourable even if future performance by the Group is likely to dip by comparison with recent results.

The 'conditioning ' of Insurance customers generally, to a climate where swingeing premium increases have become the norm, will throw increasing focus on the efficiency of individual Companies.

As far as DLG is concerned, the jury remains out.

That view is somewhat borne out by the views of many posters to this bb but, genuine progress being maintained on all fronts could have a substantially positive impact on the SP.

Thereafter, the new Exec appointments and their teams simply have to deliver; and quickly.

Meantime, in the perplexing world of insurance customers, I have to report that my personal home insurance cover quote has just been received and reflects a very significant drop from the previous year (with there being no change in circumstances whatsoever).

Was the previous year's increase simply overdone I wonder when panic seemed to hit the industry?

Still to be formally confirmed as yet, but the likely Sale date by HM Gov of June has now been voiced by Bloomberg amongst others, as they suggest the planned disposal is being accelerated for whatever political purpose........quelle surprise! The sooner, the better most will say.

Although we are all concerned about what terms will attach to the share sale, regardless, the effects on the SP of any discounted offerring are likely to be temporary imo as, of course there is no dilution involved. More likely are further buy-backs by NWG which could smoothe out any real dips should they occur.

There is also likely to be a share lock-up style clause built into any shares sold to Joe Public which will also limit SP volatility I would suspect, particularly, if the Gov retain any form of residual holding, albeit that should be unlikely.

Meantime, as I believe we actually have a CEO, it would be nice to hear from now and again as well as promising to update shareholders on how things may change after HMG exits.

There again, that may call for some leadership........

Today's RNS is as good as it could be for investors imo.

Realistically, the Co not only has a future but it is expanding at rational levels which should enable continuation of the expansion within the Sales book met increasingly from new products, can be met from within Cpx's working capital cycle without further Capital raising in the near future.

Update better than I expected to be honest.

If ever a Co needs to provide shareholders with direction, its this one, and by that I mean announcing meaningful orders with substantial counterparties as a start.

As PIs in the dark as usual, we also have to assume CPX now has sufficient capital to fund any meaningful uplift in its order book in addition to its normal working capital requirements.

Until the Market recives such guidance, its hardly any surprise the SP languishes with only certain insiders showing much appetite to date.

Not for the first time, the imminent explosion (almost) expected in the Middle East 'powder keg' over the days ahead is likely to propel the POO Northwards.

Whilst that will doubtless benefit TLW and other oil Co investors, I think the rate the human race seems Hell bent on heading toward global destruction is now entering fairly scary territory.

I am not averse to anyone making money, but I wish there were better circumstances in which to earn it.

Although recovered now from its 'all time low', the SP still has a good way to go yet to come anywhere close to true value albeit that's part of a wider issue with Banking/Finance shares as a whole and even the loss of 'shine' from London markets.

Came across these guys (corporate/junior/mezz finance etc), a fair bit in my working days and they were always thorough, professional who knew their market well and whilst niche players, stuck to what they knew and were never overt risk takers per se.

Fair bit still to go in the SP recovery imo.

If the discount turns out to be significant, then all shareholders should consider selling and, if they want to avail themselves of the even better Yield, buy back at a later time.

As Dinoken states, the timing of these transactions, are the tricky bit.

Realistically, you wonder what the point (and costs) of submitting such a 2nd offer actually is here.

Clearly, they would know it would be rejected out of hand and therefore looks no more than a preamble to their walk away.

Reflects rather badly on Aegas I would say, but no doubt they will tell their own shareholders a distinctly different story.

If, as many suggest, NWG are now in a different position from their bail-out days, then the recent rally in SP should barely register the Ex Div date tomorrow rather than its usual collapse seen in the past.

Maintenance of trading performance within guidance obviously would be required to avoid the usual undue negativity attached to whatever headwind seems to be blowing.

After all, there are always headwinds when it comes to forward looking risk assessment but that is just a factor ever preent in Banking's core activities.

Whilst it's nice to see the SP 'surging' toward 25p in real money (ie stripping out the share consolidations, capital returns and the absolute fortune spent on share buy-backs etc), and good luck to any newbies benefitting, it sort of sticks in the throat that so many plaudits seem to be heading the way of the Group these days.

Much of the improvements are seen are down to staff etc and are less to do with the shambolic leadership in evidence over recent years.

Analysts go into great detail about the breakdown in performance but the greatest factor is the sheer cyclicality inherent in banking driving virtually every key driver.

15 years on from the Financial crash, after stripping out inflation, the SP likely to be discounted in the HMG disposal, should more rightly be viewed as a penny share.

It might be worth a punt on that basis for Sid or anyone else, but for existing shareholders, the nightmare never ends.