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Page Templates Change the buttons to the left and the title above to your final version and re-save the template page. |
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Merry Christmas! |
Dislike the way Christmas is treated? Click HERE! |
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I remain deeply dissatisfied with the present UK government. Fair enough, currently under the UK system they have "won", but less than 3 in 5 of the electorate voted. (25% of the overall electorate voted for them out of the overall electorate - BBC comment). The turnout ( 590 seats declared) was around 58.6% as opposed to 77.7% in 1997. This is hardly a true mandate Mr Blair. His "landslide" majority is NOT good for democracy on this level of turnout. The only party really with a reason to celebrate is the Liberal Democrats who took at least 6 more seats. Recall that they campaigned for higher income tax! The question now is will they now go back to being virtually Labour Lapdogs? Blair says all will get opportunity to reach potential. He claims a lot, but will we really be "lifted" or let down SO BADLY again. |
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RNS Number:4092Q Lupus Capital PLC 5 September 2000 |
Lupus Capital plc (Lupus) today announced its interim results. Gall Thomson, the wholly-owned subsidiary acquired as an investment in December 1999, is performing well, significantly exceeding its budget and strengthened during the period by the acquisition of two add-on businesses 13.3% holding in Armitage Brothers plc, a fully listed manufacturer and supplier of pet accessories and pet foods Commenting on the results, Charles Ryder, Chief Executive of Lupus Capital, said: Lupus is making good progress with its investment strategy. Our first acquisition, Gall Thomson, is performing well and tactical acquisitions have enhanced the value of that business. We have also announced investments in Armitage Brothers plc and, very recently, in European Colour plc. Our strategy is to hold major investments in approximately five companies at any one time and we expect to reach this optimum level during the early part of next year. Some companies will be fully-owned while in others we will hold a strategic interest of up to 20% of the issued share capital.
For further information, please contact: |
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RNS Number:4092Q Lupus Capital PLC 5 September 2000 |
Strategy The strategy of Lupus Capital plc (Lupus or the Group) is to invest in, or acquire, small and medium sized public companies which are facing strategic barriers to development whether of a corporate or commercial nature. Lupus intends to generate significant returns by providing and, where necessary, implementing strategic plans for these companies, including appropriate exit routes. Lupus will therefore create value by providing a service to shareholders and company boards, as well as to acquisitive well-run international companies looking to expand and to diversify their businesses. In accordance with applicable accounting practice, subsidiaries held exclusively with a view to subsequent resale are recorded as current asset investments. The Group's wholly-owned subsidiary, Gall Thomson EnvironmentalLimited (Gall Thomson), is thus recorded as a current investment both at 30 June 2000 and 31 December 1999 and the related trading results are not consolidated. A brief review of the activities of each of Lupus's investments will be made in its interim and full year statements, particularly in relation to companies that are fully-owned.
In the six months to 30 June 2000, Lupus made an operating profit of £190,000 (1999: loss of £478,000 on continuing operations) on turnover of £775,000 (1999: nil on continuing operations). Lupus made a profit before taxation in the period of £98,000. For the reasons stated above, turnover in the period relates exclusively to management charges receivable from Gall Thomson. The net assets of Lupus at 30 June 2000 were £15.74 million (£4.34 million at 30 June 1999) representing 9.3p per share (5.8p per share in 1999). Net debt amounted to £1.23 million, net of cash of £0.25 million held by Gall Thomson (1999: net debt of £3.01 million). Dividends In line with Lupus's statement on its dividend policy made at the time of announcement of the 1999 results, the Board has decided to declare an interim dividend of 0.1p per share (1999: 0.1p). The dividend will be paid on 30October 2000 to shareholders on the register at the close of business on 6 October 2000. The ex-dividend date will be 2 October 2000. |
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RNS Number:4092Q Lupus Capital PLC 5 September 2000 |
In December 1999, Lupus acquired Gall Thomson, a listed company, and also Octroi Group PLC, a de-listed investment company whose principal assets were cash and a 46% interest in Gall Thomson. Gall Thomson's major business is the supply of marine breakaway couplings for oil and gas applications. Gall Thomson's continuing businesses have performed well in the six months to 30 June 2000, significantly exceeding budget. In the period, the continuing operations recorded sales of £2.2 million and operating profits of £1.0 million before Lupus management charges. Gall Thomson's main business has been particularly strong and it is believed that the full benefit of the sustained period of higher oil prices is only just beginning to impact on the level of exploration and production activity in the oil and gas industry. In February 2000, Lupus strengthened Gall Thomson by acquiring its dedicated manufacturing facility in Great Yarmouth for an initial cash consideration of £450,000 to which was added £51,000 for stock and work-in-progress. The acquisition is having a beneficial impact on Gall Thomson's margins and Lupus believes that it will enhance its strategic value. An acquisition has also been made to strengthen Gall Thomson's industrial couplings business, at a cost of some £100,000. The industrial couplings business, principally operating through Gall Thomson's subsidiary, KLAW, is now making good progress after a slow start to the year. On 4 May 2000, Lupus announced that Gall Thomson had disposed of its subsidiary, Survey Equipment Services, Inc. (SES), based in Houston, Texas. SES, which represented a small part of Gall Thomson, is involved in the supply, sale and rental of specialist marine navigation and survey equipment to the oil and gas industry. SES was sold for a cash consideration of $1.4 million. In the nine months to 31 December 1999 SES recorded a break-even result on a turnover of $1.6 million. Net assets at 31 December 1999 were $2.0 million. The market in which SES operates became progressively weaker in 1999 and this trend continued into 2000: SES made a trading loss of $65,000 in the first four months of the year. On 4 May 2000, Lupus disclosed that it held 538,000 shares in Armitage Brothers plc (Armitage) representing 13.3% of the issued share capital of Armitage. Armitage develops, manufactures and supplies pet accessories and pet foods. Lupus believes that there is continuing growth in consumer demand in both of these sectors but that there needs to be consolidation amongst the suppliers for a number of reasons, including major change relating to the distribution and retailing of the products. Lupus announced on 30 August 2000 that it held 1,626,236 shares in European Colour plc (European Colour) representing 3.5% of the issued share capital of that company. European Colour is a speciality chemicals company which manufactures specialist pigments and performance coatings. The various acquisitions and investments are part of Lupus's strategy to hold, at any one time, major investments in approximately five companies. Such investments may be fully-owned or represented by a strategic interest of up to some 20% in the issued share capital of a particular company. Current Trading Gall Thomson's good start to the year has continued into the second half and, with oil prices reaching record levels for recent years, the Board expects this strong performance to be maintained. Lupus intends to continue to build up its portfolio of assets and expects that it will reach its optimum level, in terms of the number of companies in which it has a major interest, during the early part of next year. The key element of Lupus's strategy, the sale of these investments to companies with the relevant commercial or financial size and skill to make best use of them in today's very competitive environment, will then be underway. The Board looks to the future with confidence.
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There is some comment elsewhere that "Cammell Laird Holdings" is NOT in receivership, but it is just the UK yards. That does not correspond with this snippet from the "Group Structure" page on the company site. Stock Market Listing. Cammell Laird Holdings PLC is listed on the London Stock Exchange and is firmly established as a major force in the shiprepair, conversion and shipbuilding markets worldwide. |
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Text of the two RNS announcements. There is some confusion over names here. |
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Official List - Suspension - Cammell Laird RNS Number:9729B Official List 11 April 2001 |
NOTICE OF TEMPORARY SUSPENSION OF THE OFFICIAL LISTING ON A STOCK EXCHANGE (249) 11/04/2001 07:30 AM Following notification from the Financial Services Authority ("the FSA") that it suspends the securities* set out below from the Official List, the London Stock Exchange ("the LSE") suspends those securities from trading. The following securities are, therefore, suspended from official listing on the LSE with effect from the time and date of this notice. The listing for the following security has been temporarily suspended from 11/04/2001 07:30 AM at the request of the company pending clarification of the company's financial position. CAMMELL LAIRD HOLDINGS PLC 12% Senior Notes due 15/10/2010 fully paid (Registered in denominations of EUR1,000 each and integral multiples of EUR1,000 each) Regulation S (0-216-818) (XS0118724334) Rule 144A (0-213-109) (XS0118726032) Ordinary Shares of 5p each (0-059-433) (GB0000594332) fully paid |
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The shares are listed as CAMMELL LAIRD HOLDINGS PLC, yet the note below refers to Cammell Laird Group PLC. Not exactly clear is it? Is it, in fact legally correct? It appears that "CL Group" is the overall company, "CL Holdings" is the UK part of it. That is the section quoted in London and is the share now suspended. That part (CL Holdings) would take the rest of the group with it, hence the recievership. The share currently has NO value, not even 5p par. |
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AFR) 11/04/01 16:57: Cammell Laird Hldgs - Fthr re suspension of shares Cammell Laird Hldgs - Fthr re suspension of shares RNS Number:0356C Cammell Laird Holdings PLC 11 April 2001
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Date: For immediate release, Wednesday 11 April 2001 CAMMELL LAIRD CALLS IN THE RECEIVERS Cammell Laird Holdings PLC ("Cammell Laird" or "the Group"), the international marine services company, today announced that it has asked its principal bankers to appoint Receivers at its intermediate holding company, Cammell Laird Group PLC which is the holding company for all the operating subsidiaries within the Group. This decision follows a recent series of events that has caused significant damage to the trading and financial position of the Group. In Autumn 2000, the Group had a record level of enquiries totalling approximately £750m which gave the directors high confidence in the future prospects of the Group. The business had grown substantially reporting pre-tax profits to April 2000 of £15.9m. Investment was made in employees and infrastructure in anticipation of further growth. For the rest of the article, look up the RNS number above left. |
