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blackcap
09-02-2004, 06:12 PM
Just saw this interesting piece in the paper over the weekend.


http://www.stuff.co.nz/stuff/0,2106,2806078a13,00.html

Certainly a lot of potential here for. Looks like they are getting some backing too if recent announcements are anything to go by.

Comments welcomed.

Disc - hold a few but am thinking of buying more.
tim23
27-06-2004, 12:27 PM
A little move last week, depth looks interesting, anyone following this stock?
blackcap
27-06-2004, 12:31 PM
quote:Originally posted by tim23

A little move last week, depth looks interesting, anyone following this stock?


Hi Tim, am going to the AGM next week so might be able to report back after that as to the direction the company will take. I think with this one, one needs to be patient and wait to see if they will divest the furniture making business and thus hopefully enhance shareholder value.

Still think there is value at the 5 and 6 cent mark for someone prepared to be patient. Hopeing others may follow the stock too but it seems not too many keen on CUB. A lack of liquidity is also a bit of a worry.
tim23
28-06-2004, 03:29 PM
Thanks; await your report, when I read the annual report and see that the market cap is just over $2 million I think why don't the management buy it out and delist the company?
tim23
14-07-2004, 06:27 PM
Blackcap did you go to the AGM?
blackcap
14-07-2004, 06:42 PM
quote:Originally posted by tim23

Blackcap did you go to the AGM?


Gidday Tim

Yeah been busy, went to the AGM. Not many turned up though. Not much was raised. Very disappointed deal did not go through. Also seeking compensation for deal. Indicated that another venture may be looked at. Although this was veiled.

Other than that nothing of any interest.
easy money
11-08-2004, 09:31 AM
price picked up this morning....something in the wind indeed
Steve
11-08-2004, 11:15 AM
share placement @ 12c. Given the jump yesterday prior to the announcement, did someone know yesterday???
Oracle
11-08-2004, 11:52 AM
When I bought mine at 6cents this morning after seeing the announcement, there was 1 million plus available at 8.5 to 11. Why did the capital provider pay so much higher, when he could have bought a lot on market? There would appear to be something in the pipleline, which he is privy to, as thats why he paid the premium? If he knows something and bought on market, he would be inside trading. All IMHO.
Paper Tiger
11-08-2004, 11:59 AM
This placement gives the company $250K to spend which they must have a good use for. A straight sharemarket trade would leave the company in the same financial position.
However it does not buy much in the real world.
Oracle
11-08-2004, 01:04 PM
Yes, but there has to be something good for the buyer to pay well above market!
blackcap
11-08-2004, 01:29 PM
quote:Originally posted by Oracle

Yes, but there has to be something good for the buyer to pay well above market!


Oracle, agreed, the buyer could have bought those on market for considerably less. Had he or she waited patiently at 7 - 8 cents, Im sure they would have got the required number.

In addition the extra capital will help cube.

Lets see what eventuates from here.
Paper Tiger
11-08-2004, 01:37 PM
The only possible clue I have is from the stock exchange announcement re the AGM:


quote:
Cube Capital Chairman and Company Director, Mr. Ian Smith resigned at the conclusion of yesterday's AGM therefore the resolution to re-elect him as a Company director was not passed.

As announced yesterday, Mr. Smith's resignation was tendered in recognition of the potential conflict of interest present in his capacity as an Investment Banker who wishes to introduce a major transaction to Cube.


Maybe they need some cash to keep them going for a little while?

Also as this represents less than 5% of the shares there is no need for the buyer to be revealed? I think this is why the price is 12c. need 250K, but don't want the new investor known.
Oracle
11-08-2004, 01:43 PM
Come on Tiger, who is going to give them cash to "carry on a little longer," at twice the price! With their track record they could not persuade anyone unless there is a "certainty," just waiting. The previous potential partner could not be persuaded to join the business as was, so this must be something new, & good. IMHO.
Paper Tiger
11-08-2004, 01:46 PM
Oracle

I am not disagreeing with you.
There must be something afoot, but I think they need some ready money for it and they don't want the provider known.

Disc: have none and keeping out
Oracle
11-08-2004, 01:55 PM
PT

Agreed. Are you Tiger or chicken! Money where your mouth is!
Paper Tiger
11-08-2004, 02:02 PM
Oracle my friend

Although I will happily speculate on the reasons why. I currently invest in that which I believe I am informed about.

Also at the present unless I sell some something that is doing very well for me anyway, I have sufficient cash to buy 8 shares in CUB. But if someone wants to invest 250K in me on this little winner:)
Steve
11-08-2004, 02:20 PM
Flicking through the last Annual Report PDF, I notice "Metashare" - More than enough said, IMHO

*Wanders off to find my BARGE POLE*
Oracle
11-08-2004, 02:42 PM
Steve

Agreed. It would appear to be a dog, that has had fleas. An ideal listing vehicle??
blackcap
11-08-2004, 02:49 PM
quote:Originally posted by Oracle

Steve

Agreed. It would appear to be a dog, that has had fleas. An ideal listing vehicle??


Maybe, but the register is pretty tight, with one large holder having 50 odd percent of the company. So the "listing vehicle people" would have to come to some arrangement with the holder or vice versa. I guess not at all improbable. I did note that at the AGM in my opinion there were veiled innuendos pointing to the ex chairmans resignation being the catalyst for Cube to come to terms or arrangement or agreement with one of his (Smiths) own interests. Could it be Smith that has taken the 4.7%?

We will have to wait and see.

Disc - still some held.
Steve
11-08-2004, 03:38 PM
I can't see why CUB would be used as a listing vehicle given that the process for listing on the AX board is relatively painless. Once listed on the AX and gained some public credibility, reasonably easy to jump across to the main board.
Wanderer
11-08-2004, 03:56 PM
I watched these guys back their Corporate Interiors business into the company at an inflated price and then set about trying to establish a chain of petrol stations and storage facility which they knew nothing about. Everything done on a promise.

Never had much faith in the stock since.

Anyone know if there is any pending litigation which may result in a financial windfall?
blackcap
11-08-2004, 04:08 PM
quote:Originally posted by Wanderer



Anyone know if there is any pending litigation which may result in a financial windfall?


There was talk of litigation at the AGM, but I doubt it would be in the windfall category. They did say they had received 250k from the investor that was supposed to front up with 1 million, and this money could be used to litigate. They did say they would pursue this lost contract using the law, but dont think windfalls are coming their way. Anyway thats how I see it.

Still cant work out why anyone would pay 12% for a 4.7% holding when easier to buy on market for cheaper.