Roger Baron
02 Dec 2014
Re: Fersters resigned Why do you think that they want to sell their shares schwee?
dave297
02 Dec 2014
Re: Fersters resigned This was clearly not planned,or it would have been announced with the Interims.When JG joined my view was that he was here to "mould" the company into a saleable asset in order to enable the Ferster Family to move on.JG stated that profits will have increased significantly & assuming that trend is expected to continue for the second half & beyond,I would have thought that he will be looking for a buyer & the 64k question then will be at what price?He,his supporters & The Fersters may be happy to exit with 15-20p & move on with their lives-which would be a pity as the expectation was to build CRU into a larger & profitable Group.A buyer may well close the manufacturing facility in Haydock,dispose of the assets & subcontract manufacturing,if that were to eliminate the losses & improve the bottom line.Perhaps the Irish company which bought Straight (STT) will be interested ?
schwee
02 Dec 2014
Re: Fersters resigned They hold approx 6.5 million shares equating to some 15% of the shares, so there is quite an overhang. It could take years to feed these into the market, so there will probably have to be a private sale either to a predator or City institutions. In £ terms it would be petty cash to any purchaser, but maybe not so to the Fersters.Either way the operating performance of CRU has just got to improve.
dave297
01 Dec 2014
Fersters resigned Some will say this is a good thing,but my view is that it will depend on who replaces them.Joe G maybe tempted to sell,if he can make a reasonable return on his holding,& retire,again.
