Rights issue was priced at 128p, so I imagine this was considered to be a realistic level??? Certainly looks like it's headed that way.

For those that took up the rights issue, the new shares are listed as CTTR, which are tradeable in their own right and have a different price from CTT. I have been informed that this is because the CTTR stock will not be entitled to the next dividend (due approx sept), but it is likely that the two listings will be amalgamated once the divi date has passed. This also means at the moment, each stock is subject to a dealing charge when traded.

Thanks Harrycat, useful to have a single source of Info.
-Both Cattles are in downward movement today - probably tracking themselves so MM's don't get a nasty surprise, come Sept08 (etc).
Typically 1.18 - so that's below the Rights, isn't it?
Not sure that becoming a "Bank" was ever a good idea.....

- - - Is this the final market shake-out, as even "believers" rush for the door? - - - -

I see Tanfield is massivly down . . . compare TAN (9p today) with a year ago. Grief.

Hey presto...Cattles is only 82p today.

Just topped, CTT getting very tarred with the banking sector brush and also seeing increases in arrears. Also lower amounts of good debt available for to take on. Fingers crossed the banking license comes through.

FWIW I dislike the "name" - it doesn't have a good ring of "Solidarity" - nor does it have a "friedly" name that would be acceptable to the customer ( the borrowers)
Look at the old names used for Banks - they are old family names - or - they are geographic names Halifax, Northern Rock - whatever their fortunes the name itself tells a story of Northern Thrift, solidarity and so on.

Is a name important?

That's obviously not for cattles - to maintain their EPIC they could do worse that Community Chest - a reflection of the business and solid-sounding. The only "risk" is the association with Monopoly (the game), which is a pile of playing cards. However, I suspect that is a minor flaw and the ability to keep the EPIC (hopefully) is more than compensation.
An advantage is the use of graphics - a Sailor's Chest overflowing with cash, palmtrees and goodies (like small cars) falling out - so as to reinforce the name and the possibilities.....like buying a car, a holiday on a dereted island etc.

By comparison "Cattles" just is plain Dull . . . . . . . IMHO.
I'm just not convinced this Market won't get worse. . . . . sub-50p anyone?


EDIT.15Oct08. Oh dear 42p! Grief this is "bad, on top of terrible".
However, I read the Co.website and it seems Joseph Cattle was an astute financier who made his money providing small cash-loans to the relativly poor, but proud Northerners. ( read it for yourself!)
However, my concern is "now" and from an outside-view the "name" is poor in the modern investment markets. That's just my view.
However, I fear that the Market doesn't like Banks - and if Cattles wants to join the rabble , one wonders if it wouldn't be better to walk away.
Does anyone know if Cattles can keep the money they raised? I understand the shares are now merged, so have equal ranking. What is their cash position, or are there "strings" on some of this bounty? - Grief this is bad -

I agree Cattles is a rather dull and boring name and if the company gets its banking license it could do with an image change. Dull and boring however might be the way to go as a suggestion to being run the old fashioned way with a little more security. Anyway with a banking application underway we could well see a new breed of banks of which Cattles I think could fair well.

Sorry folks....39p
Makes those that paid 1.28 for "new shares" look dumb.

I wrote: 1May,2008."...9 for 20 Rights issue at 1.28 - oh dear, another lender finding business is not "as usual" - ( this is effectively 1 for 2 = dilution. ) - so expect a sp fall to about 1.50 once the new shares are traded.

[CTT] was 4.50 in Jan07, C.2.50 Jan08 - how things change, eh?

EDIT-(21Oct08) - 21k-buy today, av. 37p represents only 0.01% - recent Dir Purchases have not been "significant" IMHO - that's 50k++ each.
ateeq180 - Why did it rise yesterday? - - - Was this Dir-purchase "known" perhaps?.....
EDIT-(5Nov)-Dir Buy yesterday 31k looks interesting, but not when the sp was 1.28 for the "Funding" - this Dir got a Bargain, so why not 100k a piece?

very volatile today this share,any reasons.

Cattles has rising debts and lack of funding...16p now.

5p is a fairer price.

hlyeo98, I'm not aware of "risiing ddeebt" - can you explain, I know they have to re-negotiate a 600m debt in June09 - but in-between they will have some money returned by way of repayments - recent Statement merely mentions delays in getting their Banking Licence - if they don't get this, will it ruin the compnany? I doubt it, it's just that it will be a smaller business, until the credit-crunch is over.

However, I do fear the sp will suffer, as there seems little "good-news" and today I read RNS cutting the Dividend for next year. (I'm surprised this wasn't done earlier...)
Currently 16p to buy.