We would love to hear your thoughts about our site and services, please take our survey here.
...he said hopefully.
Cookson to split into two, gets blessing from activist shareholder 01 November 2012 08:00 Nov 1 (Reuters) – British industrial materials supplier Cookson Group Plc <CKSN.L> said it will separate its performance materials division from its engineered ceramics and precious metals processing divisions, a move welcomed by shareholder Cevian Capital. Shareholders in the company would receive one share in each of the two new entities for every Cookson share they hold. The performance materials division — which supplies materials and chemicals to the electronics, automotive, industrial and construction markets — would demerge to form a London-listed specialty chemicals company, called Alent Plc. The engineered ceramics division, whose products are used in the glass and solar industries as well as by steelmakers and foundries, would be renamed Vesuvius Plc. Activist investor Cevian Capital, which owns roughly a fifth of Cookson, said its two founding partners, Christer Gardell and Lars Forberg, would serve as non-executive directors on the boards of these new companies. (Reporting by Brenton Cordeiro in Bangalore; Editing by Joyjeet Das) ((Brenton.Cordeiro@thomsonreuters.com)(within UK +44 20 7542 1810, outside UK +91 80 4135 6102) (Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net)
Senior Plc (SNR.L) Announced in its interim management statement for the period since 1 July 2012, that overall trading was positive during the period with the Group's adjusted profit before tax in line with the Board's expectations. Cash generation remained strong, with net debt at the end of September of £68 million being £25 million lower than at the start of the year. The large commercial aircraft market, which accounts for half of the Aerospace Division's revenue, remains healthy, with Airbus and Boeing delivering a combined 841 aircraft in the first nine months of 2012. This represents an increase of 16% over the 723 aircraft delivered in the same period of 2011. 23 Boeing 787 aircraft have been delivered this year compared to one in the first nine months of 2011, with Boeing remaining confident of increasing production to ten 787 aircraft per month towards the end of 2013. Airbus and Boeing's combined year-to-date net order intake of 1,191aircraft (nine months 2011: 1,464 aircraft) was again well in excess of deliveries and their resultant order books, in excess of seven years at current build rates, continue to provide a strong foundation for future growth. Elsewhere in the Aerospace Division, demand for regional and business jets remained broadly stable with Senior's activity increasingly focused on supporting future programmes such as Bombardier's CSeries 110 to 130 seat passenger aircraft, Bombardier's L85 business jet and the Mitsubishi Regional Jet. Increased engineering resources are also being directed towards the new single-aisle Airbus 320neo and Boeing 737Max passenger aircraft, both representing more efficient derivatives of existing best-selling aircraft which are due to enter into service in a few years time. Unsurprisingly, given Governmental budgetary constraints, the level of shipments for some of the Group's military & defence programmes, such as the Black Hawk helicopter, eased down during the period and the outlook for other programmes, such as the C130J military transport aircraft, began to soften. The Flexonics Division delivered a strong profit performance in the period, despite weaker demand in its principal land vehicle markets in Europe and North America, as a result of lower material costs (principally stainless-steel), a healthy level and advantageous mix of non-European industrial sales and a continued focus on efficiency improvements. With market conditions largely as anticipated, although increasingly challenging in some areas, the Board continues to expect 2012 adjusted profit before tax to be in line with its previous expectations. Assuming no further deterioration in market conditions, the Board believes the Group is positioned to make further progress in 2013 and beyond.
Hi! A respected name from one of the BBs that I look in on... (don't ask me which, memory is failing). You seem to be doing a good job of keeping this BB alive, single-handedly. Bravo! Just got around to reading the Sunday Telegraph (of 15 April) which is pushing this one quite hard. Do you reckon that it is as promising as Questor maintains? Thanks.
...coz I've just sold up! GL to all you long-suffering PIs still in. Hope rpt comes good in the end.
In amongst the small Sells (PIs getting bored and moving on), there was a sizeable trade this morning of 100,000 shares, so somebody must have confidence that RPT has potential. Pity the rest of us are being treated like mushrooms...
Hi Netley, you're good at this stuff.... Any thoughts on what value for RPT (/ sp) might be, based on assumption that licence is now/ about to be in the bag? Many thanks for your words of wisdom on this board, along the way. It has been reassuring to know that you have been keeping an eye on us! Cheers.
I fear that most RPT-ers lost the will to live a couple of months ago. Presumably this hike is an indication that the new owners have / are about to crack the licence issue - and word is now starting to leak out. But there again, wtfdik
Wonder where this is heading...?! GLA
Netley, come on board! Lots of thrills to be had here - and it is a 'thistle' free zone ( ...to date! )
Always comforting to see the (BP) Oga on this board. Hope you are well. I am back in Cameroon next week for a few days. I'll see if I can sort out VOG's licence for them! I'll be expecting some more of your epic Sunday educational posts to help pass the time!
...certainly sounds better than HERTiXR ! Research...? I leave all that stuff to you! ;-) I'm in for the long-haul here (ditto HER). Cheers!
Happy to count myself amongst the ranks of TXR-ers. Hope I owe you for this one as well, Corbs!
Suggest you make contact with the guy who has formed Regal Action Group - eastmtwest@yahoo.com - to add your voice to the many shareholders who are fed up with being messed around by RPT's BOD. I have signed up with him, but owing to my small shareholding, I am not intending to cough up the £250 contribution he is seeking from each RAG member. However, in your case, as you are nursing a big loss with RPT (currently £9.6k), you might consider that it is worth supporting RAG financially. Worth making contact with him, whichever way you decide to play it.
Copied from iii RPT site: Regal Action Group. Dear Shareholders, Here is the latest update re current Regal related issues. 1) RAG currently seeking active financial contributions £250.00 (written consent) from RAG members, we have written to all current active members, the response so far has been positive however due to the Holidays many RAG members are yet to reply. 2) If you look into Regal past you will see there has always been a threat or a actual legal issue relating to it’s Ukraine assets (See Alberry deal) the RAG is sure that with the license issues can be resolved in Regals favour we just need the right people with experience and the contacts on the Regal Board of Directors. 3) The Board informed us that there were several interested parties but to date we only have one firm (unacceptable offer 0.24p) on the table, what happened to all the other offers? Why none of these offers put forward forward to shareholders? What is the Board hiding? 4) RAG is still seeking communications with other large institutional shareholders who would also support a solution being found for the license issues in place of a fire sale currently being sought by the current Board of Directors, discussions are on going but there is a general willingness to support the RAG and its ideas to refuse a unfair sale and supportive of a possible Board changes to help get the License issues favourably resolved. 5) The RAG urges ALL shareholders to refuse the 0.24p and if you have not joined the RAG should do so as soon as possible, just email the account name the nominee account held and the number of shares held to eastmtwest@yahoo.com The RAG Suspects that Heamoor will not make any formal offer and is possibly seeking to do a deal with Smart if a deal can be reached with Regals shareholders then Heamoor and Smart will share the Regal assets amongst themselves and will be laughing in the faces of the past shareholders while doing so, no deal! The RAG is solely a vehicle which will be used to refuse any unfair sale of Regal and its assets and will try to seek through shareholdings and use the legal system to find a more effective method to return value to shareholders. Do not accept the offer which is currently being offered, it is an opportunistic and unfair offer!!!!! NO DEAL!
Nope. I told 'em where to get off. Hang in there!
Thanks for your prompt reply and for the link to harry p's analysis. Looks good - and worth a punt. Thanks again for all your efforts on behalf of HER PIs. Cheers!
Hi Corbine, I am one of your legion of admirers on the HER BB. (I owe you!) Much going on with TXR? The fact that you are in here is encouraging - but I suppose I shouldn't base all my investment decisions on your whereabouts on LSE(!) Interested in your view on direction / speed of travel for this one. Many thanks.
My reading of the situation is that Heamoor are prepared to up the ante, but they have yet to declare their bid price. The ball is still in play.
I don't buy into pasty's sentiment (Today 12.06). The 24p offer is the first that has been put on the table. At this price it is a steal, so I don't believe it will be withdrawn in a hurry. This whole thing stinks anyway and most PIs know that. Licence mysteriously withheld, so that the SP tanks, and then we have following bizarre situation (as described by FT.com): "The tentative offer is being made by an unnamed Ukrainian company. Several other companies have also registered an unofficial interest, according to someone familiar with the discussions." "Unnamed Ukrainian company"...? What nonsense is that?! This whole thing is a stitch up and PIs/ IIs should have the wit and the stamina to tell RPT's BoD where to get off. It is not over yet. This is just the start of a bidding process. Don't lose heart and grasp at the first offer that comes along. GLA