Associated British Eng Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9416715 On the positive side apart from its cash it has in British Polar Engines quite a decent business which although a bit erratic seems to be able to turn in quite good profits £500k+ a year which is not to be sniffed at.Must surely be worth more than this companies market valuation alone before we consider net cash.On the negative side the pension plan will cost £250k a year for as long as we can see ahead to service. By TX2 ]]> http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=9416715&action=detail Mon, 12 Mar 2012 09:23:00 GMT TX2 tag:iii.co.uk,2003:tst.9410217 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=9410217&action=detail Fri, 09 Mar 2012 15:32:00 GMT DORSET KNOB tag:iii.co.uk,2003:tst.9152644 The company held nearly £4m cash at last balance sheet,although there are long term pension arrears of £1.9m in addittion BPEs freehold Glasgow Works which is reasonably located albeit fairly rundown and old premises must be worth more than £62,000 including machinery attributed to it. By TX2 ]]> http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=9152644&action=detail Thu, 12 Jan 2012 11:37:00 GMT TX2 tag:iii.co.uk,2003:tst.9152235 4 shares for every 15 held at £1.00 per share. Fully underwritten too. Look at the RNS for details. Seems to me that after this the company will be very well placed to move on, without the millstone.
Any other comments? By Patrick K Murphy ]]> http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=9152235&action=detail Thu, 12 Jan 2012 10:38:00 GMT Patrick K Murphy tag:iii.co.uk,2003:tst.8728620 I dont think the main board have any real interest in BPE but I do believe that Pearce Gould who has a 9.2% stake in ABE is the main man at BPE.
I would think the property is well undervalued and there are useful tax losses which makes the quoted asset value substantially less than the real worth of the company. By BOWOOD ]]> http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=8728620&action=detail Fri, 09 Sep 2011 11:36:00 GMT BOWOOD tag:iii.co.uk,2003:tst.8725103
Perhaps it is some sort of transfer to a SIPP but in this case you normally get two transactions at more or less the same price.Time will tell.


Incidently I did n't think the annual results were too bad,at first glance they appeared to be but the fall was due to preference divi costs/arrears been charged to p&l account.

British Polar Engines seems to have a fairly extensive freehold site on Helen St Glasgow.It probably dates from early 1900s,some perhaps a bit later.Part may be let out as some of the building has mosaic BPE logo on it but different occupier.Not exactly high value premises but Helen St is reasonably located for Motorway.Historic book value at last revaluation was about £650,000 but has now been depreciated to almost zero.

I do not know if it has been mentioned but almost all of the two classes of Preference Shares are owned by one holder called The Investment Company PLC this is a quoted,albeit rarely traded Investment Trust.One of its Directors is Stephen Cockburn,who is a Director here.The Investment Company has close links with Fiske & Co Stockbrokers where Cockburn is also a Director and if memory serves a number of ASBE Shares are held in Fiske Nominee name.

Whether we will see any "Corporate Action" in our lifetime remains to be seen!!!!! By TX2 ]]> http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=8725103&action=detail Thu, 08 Sep 2011 15:07:00 GMT TX2 tag:iii.co.uk,2003:tst.8723578 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=8723578&action=detail Thu, 08 Sep 2011 10:19:00 GMT BOWOOD tag:iii.co.uk,2003:tst.8723431 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=8723431&action=detail Thu, 08 Sep 2011 09:57:00 GMT TX2 tag:iii.co.uk,2003:tst.7889317 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=7889317&action=detail Tue, 01 Mar 2011 17:24:00 GMT BOWOOD tag:iii.co.uk,2003:tst.7689900 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=7689900&action=detail Thu, 27 Jan 2011 18:44:00 GMT BOWOOD tag:iii.co.uk,2003:tst.7355350 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=7355350&action=detail Tue, 30 Nov 2010 20:57:00 GMT osammyboy tag:iii.co.uk,2003:tst.7291390 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=7291390&action=detail Fri, 19 Nov 2010 11:06:00 GMT Patrick K Murphy tag:iii.co.uk,2003:tst.7288179 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=7288179&action=detail Thu, 18 Nov 2010 20:46:00 GMT osammyboy tag:iii.co.uk,2003:tst.6539837 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=6539837&action=detail Mon, 28 Jun 2010 15:33:00 GMT BOWOOD tag:iii.co.uk,2003:tst.6539110 http://www.iii.co.uk/investment/detail?code=cotn:ASBE.L&display=discussion&id=6539110&action=detail Mon, 28 Jun 2010 13:43:00 GMT mstew10