Member Info for sheffieldowls

Have you my fellow Wednesdayite become a shareholder in Lamprell as I have noted your recent postings on this board?

I did have until selling 25% of my holding in March 2011 the problem was that I invested my profits in Coal of Africa at 90p and I lost all of my Lamprell profits in that poor choice of investment. Never mind at least I am in Southern Florida as I could have been at Hillsborough in recent weeks!!!!!!!!!!!LOL.

You make a fair point but you need to take into account that the market was expecting a profit not a break even situation plus will there be losses on other agreed contracts just as the surprise losses this year? The banks support is still to be agreed going forward and dont forget good old sentiment!!!!!!!

I am in agreement with your views. I believe it is certain that Steve Lamprell has been sounded out re his view of a takeover and will have given his approval if the price is satisfactory. I expect to hear news shortly re this matter. Happy Thanksgiving from the USA to all on this board.

I agree that a new management team is required to take this company forward which is a major reason why I think Lamprell should be taken over by a much larger company who can supply managers that are up to the job.

I think it is fair to say that Steve Lamprell(Big Steve) will have already been sounded out by the chairman re his attitude to any potential takeover offer as why would the board of directors acknowledge the possibilty of a takeover if they knew that he was likely to block any potential takeover offer. Both Big Steve and myself Little Steve have to accept that due to management incompetence Lamprell is worth much less than was the case before the initial profit warning in May. I take the view that a return to the three pounds plus share valuation is several years off so a takeover deal at a significant premium to the current share price will be the best option for all involved and I intent to accept any reasonable offer for my holding of well over 1.1 million shares.

Thanks Tony I am feeling a little better but these 3am wake up's because of being in Florida are not to be recommended at all. Lets hope that we have seen the bottom and Bank of America are correct with their near term price target.

I agree with you about the big numbers involved for me and I just woke up again in the USA wondering if it has all been a bad dream that my ISA of which Lamprell was by far my biggest holding could be worth 5.5 million a few months ago but thanks to the collapse in price of Lamprell and Coal of Africa is now only be worth one million pounds.

I am with you that the banks support is crucial for the long term recovery of Lamprell. The loss is bigger than I expected and taking that into account the current fall in price is less than I would have expected hence to some degree Bonum is correct that it was largely priced in by the market. I note that the FSA are still looking into the insider trading issue. I will come back on line in a few hours time to check the share price as its only 3-35am here in Southern Florida.

Sheffieldowls is too shell shocked to write much on this board after losing over three millon on LAM and over another one million pounds on CZA. At least it has helped me make a decison re my American girlfriends ie I am back with the least expensive one!!!!!!!!!!!!! Campden seems to be well informed so I am also dreading the trading update and I agree that senior management are highly culpable. I must get some sleep as its 4am here in Southern Florida.

Thank you for your interesting post on this board as somebody with a significant investment in this company I would much appreciate it if you were willing to update this board with your views from time to time.

The more I read about the potential size of the losses the more I wonder how the 'directors' who sold a substantial number of shares less than six months ago were cleared of insider dealing. I wonder what Steve Lamprell is making of all of this as a fine company that he built up from nothing is now in a terrible state because of poor management. As mentioned before there has to be level of losses that will sink this company. Can it survive a loss of $115 I am wondering?

Sadly my fellow Wednesdayite I have already been caught in the big fall as I imagine that you may have been with Chariot oil. That is not to say that a further fall is not on its way as I rather suspect it is as we have some knowledgable posters on this board. I guess I am trying to ignore the short term fluctuations and hope that bonun and silver wolf are correct that Lamprell will get its act together and there will be a recovery in the long term. Another factor I have to consider is that with my holding being well over one million shares it is not that easy to sell such holding in the market.

Thank you all for your replies to my question. I have to say to you Downthepit is there any reason why you should speak to bonum the way that you just have done. I have been on this board for many years and sometimes posters disagree and thats fine but please may I request that we treat each other and each others views with respect. Have a nice day as they say in the USA.

Do you see losses as high as $85 or $99.9 million and if so are you saying that these figures would sink the company? Shame about the Don's last test match innings for reasons that we both understand in terms of statistics.

Please may I thank a number of you for your contributions to this board since May when the s_ _ t hit the fan so to speak. I fully understand that several of you have far more knowledge of Lamprell and the industry than I do which is why your contributions are so valuable especially for me because even at this depressed levels my holding is valued at not that much below one million pounds. I think that bonum and Theygotya are spot on with their recent posts. However I have to ask the question which is what is the level of losses for this financial year which could be terminal for the company. There has to be a figure have any of you on this board have any thoughts regarding this matter. I should have other things on my mind as I sit by the pool in 85f temperatures in South West Florida but that's the way it is!!!!!!!!!!!

I think as always you make a valid point as Lamprell talks about having enough cash going forward but is unsure as to the extent of the losses for this year. How can you state you have enough cash without knowing your potential losses? I think that bonum and Silverwolf also make valid points if Lamprell can survive the next twelve months but will they that is the sixty four thousand dollar question or in my case rather more than that.

It could be that you were the only person to miss the RNS on June 15th re the new chairman. However you did well selling out a couple of weeks ago. I wish I had listened to some well informed posters on this board and followed their sage advice.

Sadly this comes as no surprise to me as several of you on this board appear to have some inside knowledge of this company and have been hinting that more bad news was on its way. The lack of director share buys also indicated to me that all the bad news was not out there in the market. It was a three million pound plus error on my part not to follow the directors by selling my shares in early May!!!!!!!!!

No problem its my attempt at humour as deanowls will understand as I support Sheffield Wednesday the Owls and our local rivals though they are in a lower division are Sheffield United otherwise known as the blades or pigs.