Callun
04 Aug 2016
Re: Interim results The bad news was already out there and results are in line with expectations announced at the time of the share issue. Cobham took action to reduce debt by a rights issue. Very up front and honest company. As with most defense companies there are bound to be occasional technical, order book and delivery difficulties. It's how well and how quickly the company responds that matters to me. Rather surprised at the negative market response. If the company forecasts hold true then there should be a steady improvement in the SP medium term. Obviously as a holder I have a biased view so DYOR.Callun
MoleMan99
04 Aug 2016
Re: Interim results Never looked into Cobham before. My 3 minutes of research throws up a company that seems to be issuing shares to pay it's own dividend. Never a recipe for success.Maybe they can hang on to pre tax profits of £120m as before. 60p a share tops for me. Longtermers here may know what's coming down the pipeline that will significantly boost profits to support the SP. I'd be interested to know.
idontwanttolose
04 Aug 2016
Re: Interim results Interim results They don't look to bright to me!!The SP this morning reflects themCOB Bid:153.1p Offer:153.6p Change:-14.2247as always dyor
give the dog a bone
04 Jul 2016
good to rise? well put.and always good to see some insider trading ....insider Murphy ,Robert (Bob) acquired 7,500 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of GBX 138 ($1.82) per share, for a total transaction of £10,350 ($13,652.55).
Callun
04 Jul 2016
Re: Not sure that this news will have a major impact on the SP. It's a confimation of business as usual. Very welcome since it is bread and butter low risk business, unlike the areas that have caused recent problems.Recent broker comments have not been negative, retaining their previous generally neutral stance. The obvious change though is the significantly lower target price.Given the integrity of Cobham I don't expect further negative bombshell news, and am hopeful for a steady improvement in the SP rather than a sudden surge, though in the present volatile political climate anything is possible.Callun
give the dog a bone
04 Jul 2016
today's announcement of a 1.2 billion contract with QantasLink should send th share price escalating. Assuming of course that the contract is properly priced and is Cost + - not a loss making meal. well done BoD - may be a glimmer of hope of achieving past glories
Ripley94
02 Jul 2016
89 p rights. was 89p the rights price.Not bad then after broker downgrade yesterday , with price up to 157p
Tom657
12 Jun 2016
Re: price ex rights? Thanks for taking the time nk. Got my Head round it now.Regards Tom
nk1999
12 Jun 2016
Re: price ex rights? Tom, I hope the info below helps:Cobham went Ex-Rights on 2nd June for 1 for 2 new shares for 89p each.So for every 100 shares, you should have got 50 nil paid shares on that date. You have to pay a further 89p for each nil paid share to make it fully paid.Nil paid shares can be sold and bought like ordinary shares till a couple of days before the payment due date. If you buy Nil paid you have to pay 89p each on these purchased shares also, to convert these to fully paid ordinary shares. If you sell Nil-Paid then you lose the right to convert these to fully paid.Last date for payment to reach company is 11
0am on 16/06. Each broker will have their own deadline normally a few days before this so that they can process your instruction. They will want your money by 12/06 or so (each broker may vary).New fully paid shares will be allotted on 17/06.If you don't convert the Nil paid to fully paid by paying 89p each before the deadline, the broker or company will sell them for you and give you the proceeds.Please DYOR. The info above is indicative only, and from memory/ my notes, so could be wrong.nk
Tom657
12 Jun 2016
Re: price ex rights? hi, New to self investment, Im still trying to get my head round this rights issue. 1/. My inter active investor account is showing ownership of "cobn" Am i right to assume that my cobn on interactive investor statement is "notional" ? shares, 1/3 ratio of original "cob" holding. Which confuses me nil paid or fully paid I have not paid for them, but it appears that i can sell them 2/. My understanding of nil-paid is a possible chance to buy shares at a discount to mitigate or reduce the dilution of my initial investment ( Am I Wrong? ) 3/. My understanding of what happens after the 16th June (ex rights ?) is vague at best. I have the option to buy "cobn" shares (1/3 of current holding) at a fixed price ( Am I wrong ?) 4/. If I'm correct about question 3/. Is there a time limit on "cobn" ex rights5/. Any suggestions for a good site or book ( yes I'm that old) to research the above questions?In anticipation thank you.tom657
Callun
10 Jun 2016
Re: price ex rights? COBN is nil paid before16th June when it becomes fully paid.Hope this answers your question.
Ripley94
10 Jun 2016
Re: price ex rights? Can someone please tell me when this trades at ex- right ?Thanks.
Callun
08 Jun 2016
Re: price ex rights? Thanks for doing the maths, Kenj2. The SP has held steady since the RI, which is encouraging.Cobham is an ethical company, their company slogan summing them up, so I doubt that there are any serious issues that have not been declared. I doubt they would have maintained the dividend were it otherwise. Unfortunately they have been caught out by forces beyond their control, though that doesn't mean they should not have considered them in their risk assessments.Hopefully they have turned a corner and we can look forward to a return to normal and sustainable levels of profit, altough there is a 3 year downward trend to overcome.Callun
Kenj2
07 Jun 2016
Re: price ex rights? Callun is right Foolish Learner!The RI pricing has already been factored in.The sp was about 161p before the new COBN rights issue shares were put on the market.Hence 2 x 161p = 322p, plus 89p = 412p for what will be 3 shares. 412p / 3 = a new price of 137p.And this is fairly close to what the shares opened at after the COBN shares were introduced.The RI (COBN) share value was 44.5p per existing share when offered.So if you had managed to purchase one COBN share for around 44.5p you would then need to pay 89p to convert it to one COB share, giving a theoretical value of 89p + 44.5p = 133.5p.Currently the COBN sp is about 55p, valuing the shares at 89p + 55p = 144p.While the COB shares are trading at around 142p.So the COBN or RI price, added to the 89p will equate closely to the current COB share price.
Callun
04 Jun 2016
Re: price ex rights? Hi Foolish Learner,There has already been a price adjustment to take account of the larger number of issued shares. The price dropped from around 163 to 134 when the rights were issued (not shown in the ii charts as they have adjusted for the increased shares). Don't forget that the rights issue price is discounted to encourage take up. Until they are incorporated these have a value and may be traded in their own right (ticker COBN). The market value of COBN together with COB represents the total value of the company. Between now and incorporation date both COBN and COB prices will fluctuateaccording to market forces. If you were to ignore that then there should not be a further drop as you suggest., IMO.The biggest driver for these shares going forward will be confidence. The recently announced large order will help boost that, and any news that the company is back on target with delivery schedules will help too. Any hint of a further profit warning and COB will sink even further.I am holding at this time, and under water, but will take up the rights issue and will be looking for an exit if / when I reach break even.Hope this helps. I'm sure someone else will be able to provide the detailed maths.Callun
