nk1999
19 Feb 2015
Results and Financing timetable Good results, bu I thought they were going to do the refinancing, including Rights Issue, during Q1. No dates are coming through, although "it is proeeding to the plan".....========== ========== ========== ========== ========== ========"Coalfield Resources reports a profit from continuing operations of £3.5m for the year to the end of December - up from £3.3m in 2013.Coalfield Resources is a property investment holding company. Its only significant investment is a 24.9% stake in Harworth Estates Property Group Limited in which it takes an active investment management role.CfR has net assets of £58.7m at the year-end (2013: £55.2m) and net assets per share of 9.7p (2013: 9.1p), reflecting its underlying investment in Harworth Estates.During the period the company also agreed heads of terms agreed with the Pension Protection Fund to acquire its 75.1% shareholding in Harworth Estates.Chairman Jonson Cox said: "We have made good progress in growing the asset value of Harworth Estates, which continued to perform well in its second year of trading as a specialist brownfield investment property development company. "We have also announced the proposed acquisition for a total consideration of approximately £150m. This acquisition would give a strong platform for growing Harworth. We will continue to work with the PPF to deliver the transaction which is proceeding to plan."
Skint Taff
13 Jan 2015
Re: It looks a great deal Will probably be a while before they get back to break even for me @ £1.20!!Still may be a nice surprise for the great grand kids.
CASTLEFORD TIGER
13 Jan 2015
Re: It looks a great deal not quite the lot . 20/25% still with pensions.tiger
TX2
13 Jan 2015
Re: It looks a great deal The Harworth Estates website is worth a look at;while we wait to see how much cash we will have to fork out to buy the lot!
KEEPING CALM MIKE
13 Jan 2015
Re: It looks a great deal Hope so , Ive seen these go to the Moon and back, wish I would have not been so greedy , and sold them many years back, both as RJB Mining and UK COAL !!!
CASTLEFORD TIGER
13 Jan 2015
It looks a great deal CRES will own approx. 75%.HARWOOD had net value of approx. 240 million.Funding deal will be key but I hope to come back into this given a chance.Shares had a nav of 9.5p before and HARWOOD continues to sell land for building etc.Huge amount still to sell.Await details but I think holders will be very happy as to where the price moves to.Tiger
Nunquam
04 Jan 2015
Any one know when shares will be traded again?
Nunquam
02 Jan 2015
any update?
TX2
03 Dec 2014
Re: Re: Essentially we have to find around £80m in cash to pay PPF;they are taking part in CRES shares.Quite a big sum in relation to present market cap.I suppose as borrowing at Haworth is very low part could be funded by loans against portfolio but on the face of it we could be looking at a one for one rights issue at least.However it gives us control and cash flow from the investment and the pension fund a sellable asset in terms of CRES shares.Obviously we may have to put our hands in our pockets...........
KEEPING CALM MIKE
03 Dec 2014
Re: Too busy I guess. I have read both CRES and Haworths news items, makes good reading if it all does what it says. I guess sit tight and lets see what the terms are of the Takeover and how they are going to fund some of the £150
prestonjeffreys
28 Nov 2014
where are Castleford Tiger and warbaby43 when you need them?
KEEPING CALM MIKE
18 Nov 2014
Re: Haworth RTO Will have to wait to see the prospectus and the terms to try and follow what they have actually agreed
In-vest
18 Nov 2014
Re: Haworth RTO Yes, but any idea what it will do for share price?
TX2
18 Nov 2014
Haworth RTO Seems to make sense as it will give CRES control.Await further details.......
