Member Info for Davius

In auction again 39-38.75. L2 buy volume 235K sell volume 33K. Wonder if this might get back over 40p? Might think about selling shortly...

And out of auction now, 38-38.75p. Lol back in auction at 38.75-38.75p, this is hillarious. Out at 38.75-39p. What a hoot.

Out of auction at price predicted, but rising again now, 34.5-35p, no, make that 35-36p. Steve smiling yet? No back in auction at 37p. Lol.

I posted both 32p and 33p, probably because buys at 33p and sells at 32p. Anyway, another 20K buy appeared at 33.5p and buy volume up to 235K, currently would exit auction at 33.5-34p, half a minute to go...

L2 buy volume picking up very well, 195K against 49K sells. In auction at 33p (20K buy order at that price). Did take a small punt at 30.39p.

Auction at 28.25p. Very nearly bought at 30p...

themoneyman, I have an account with TD Waterhouse, their level 2 system is £25 a quarter provided you make 75 trades in the previous quarter. Auction price is currently 32p. The papers made a lot of the possible need for a rights issue, hence the further fall today I suspect. Fears of a rights hasn't stopped Paragon recovering though, so no doubt they'll be a bottom here somewhere too. Out of auction now, 31.75-32p

36.75-37p. I think a rally could be on the cards tomorrow, so will keep this on my screen first thing...

No, you can't do open trades during an auction period. Buys and sells go on to the books and get matched up at the best price for all. The auction was extended to the close and has a couple more minutes to run.

37p but 6 minutes to run, could take it through to close. Currently it would exit at 37-38p, buy volume no rising though with a 61K buy order at 36.75p. Looking better I think.

I've been watching here all day and surprised that the share have fallen so far. Level 2 looking very weak at 38-40p, just 18K buys and 111K sells on te order book. Anyone take the plunge yet or still waiting?

Very nearly bought at 70p just before going out, but I don't like to be away from my screen for too long when punting on a share in case it turns. Glad I stayed out now, I see they bottomed out at 58p. Around 60p would have been the best buy in price I think. L2 now 1-1 @ 63.75-64.75p, buy volume 71K, sell volume 55K.

At the current share price the market capitalisation is £95m. If they need to raise a further £280m at below the current SP then you could assume a dilution of perhaps 4-1, and if they raise via a rights issue shareholders would need to subscribe to retain their stake. So if you current held £1000.00 worth of shares (at todays SP) and they issued new shares at 70p you'd could be offered 4 news shares for each one you hold. That would mean a further investment of £3300 or so to retain your full stake. However, such a cash injection should secure the short term future of the business. And anyone that didn't subscribe may not see much of a fall in the share price. But it does depend to some extent on how much of a discount to the SP the rights issue is placed at. I still think the fall is overdone but would prefer to see the details of the rights issue before deciding to take a punt here. Staying on the sidelines for now...

A surge after auction into the mid 80s but dropped back off a tad. I suspect a further retraction is possible. Far too much of a punt for me I think, they could close at 70p or 90p...

They have withdrawn the dividend, due to market problems, and announced a £280m rights issue is likely (which would be at a discount to the market price no doubt). The fall to 70p or so would seem to be excessive though, and they are current in auction as the buyers jump on board. Highly risky I'd say but quick profits for the brave if you get the timing right.

Not convinced of the price or the date, but I posted this info to advfn earlier: 1) Share price exceptionally weakened by cashflow problems and what appears to be forced selling. 2) The company had reported that it wants to sell off parts of the business. 3) The interim results revealed a small profit to end June. 4) The net asset value at the interims was £5m which includes £1.9m in intangibles. 5) SP bottomed out under 1p (market cap under £0.5m). 6) Peter Gyllenhammar revealed as a large shareholder. 7) Net asset value is 13.1p per share. Discount intangibles and it is 8.1p per share. 8) Current SP at 4.5p, a heavy discount to NAV. 9) The company has confirmed that it is in talks.

There's a poster on advfn that says a bid of 10.5p is going to be announced on Friday. Complete BS in my opinion (will be happy to be wrong though) but whatever the reason, buyers are back today and driving the share price up again. Now up to 4.25-5p with MMs trading at 4.65-4.96p for 10K shares.

The Wagon share price has had a dismal time, in May it was in the 120s, bottoming out at 23p a week ago. The issue is one of debt, but the company has completed refinancing, is to close its final salary pension scheme and has agreed an invoice discounting facility. Updates in July and October indicated that the company was trading in line with the boards expectations. They are on course to delivery a very decent EBITDA, but the high debt will reduce pre-tax profits. However, the forward P/E appears to be below 4 for 2008. The accounts suggest that the debt is manageable, excluding intangibles net debt was around £13m and the business has a turnover of £600m-£700m a year. Recent moves should have reduced the debt burden. A market capitalisation of £32m seems on the low side. With the signs of a recovery in the share price and the interims due in a fortnight, I'm buying at 29p.

It was disappointing to see these drop back, but not entirely unexpected. These are only talks after all, there's no firm bid tabled yet. If a third party does mak an offer, either for part or all of the business, that will inevitably be good news for the share price. The company has stated in September that it wanted to sell one or more parts of the business, therefore I would guess someone is interested in one of the divisions. In the absence of a bid some profit taking was likely but at least the share price ended higher than the previous day. The current market cap is still only around £2m, half the asset value and well under any realistic takeout offer. Currently I think a full offer for the business is unlikely, but were that to happen I think 8p would be a minimum bid, and possibly a lot higher. Should no bid materialise, I plan to hold these shares for long term recovery.

I speculated a while back that Brinkley might benefit from the CFM licence problems, should they be resolved amicably. Since then the share price has continued to fall, although we've seen a small bounce from the low of 6.75p yesterday. Both companies fell in August on the licencing concerns, although CFM went vertical BRM has been more gradual. The news coming out of the DRC implies a softening of their previously harsh stance though, and the leak of a preliminary report has lead to hasty action to smooth things over. The DRC doesn't want to appear a place where Western companies can't do business, this should be good news for BRM. Worth keeping a close eye here I think, I'll be buying on any sign of a further recovery.