Note: Where MoneyAM chart shows 0.00p, it means 1.00p(!)

Sub 2p now not looking good.

..maybe worth a go @1p..?

Games up I guess.

That's a scary one mitzy! Looking like junk stock & administration on the horizon?

Is it? This is a gamble now but I've just topped up at 0.7p to bring my average down to 1.7p. Haven't got a clue which way it's going but the only way I can win is to gamble on a bounce back. Good money after bad? We'll soon find out.

This has fallen so quickly. Hanover selling their 6% earlier in the week, they must have known this was coming. Is that insider trading or just the benfit of being a large shareholder with your finger on the pulse? In any case they knew before we did.

The question is what is the true value of what we have left? The trading statement doesn't hold up - on the one hand they're saying the delayed sale is the cause of the half year results being off, on the other they're saying that they'll have to look at ongoing funding requirements and operations.

Is it a deliberate ploy so that new money can come in at a bargain basement price, or so they can take it private at a rock bottom price? At this moment we'd probably all jump at 2p per share, I know I would. That would have been unnacceptable a week ago, and only 6 weeks after the full year results painted a rosier future.

Big boys playing games, I'm joining in rather than backing out.

It looks like ir will be taken private Harry with nada for shareholders.

On 1st September, David Ross, Chairman, commented:

"The sale of the Marine division has enabled us to stabilise the business, reduce borrowings and re-focus the business on providing services to offshore industries. Trading has been challenging but the disposal of the Marine division will enable us to make a fresh start. To that end, we have today announced the appointment of a new senior management team, who come with extensive financial and commercial experience and I look forward to working together with them to grow the business."

The Marine business was sold for 31M and was supposed to reduce borrowings to 7M in September, presumably that figure is now incorrect but what is it? At a price of 0.75p what's left of the company is now valued at 3M. It would be useful to see the company trading figures exclusive of the marine division. What do we expect of turnover, 10M?

.

Games over for the shareholders.

.

Shareholders have been duped.

A sad end for all connections.

.

.

.

Nope! You need to turn out the lights and shut the door as you leave, mn!

.

You need to go to the LSE chat board for all the action on this share.

http://www.lse.co.uk/ShareChat.asp?ShareTicker=CSLT

By no means dead and buried

.

pandjenergy article by Ross Davidson, 14th Feb

"The chief executive of Cosalt said yesterday he wanted the company to return to private hands, but added he was confident in the future of the firm even if it remained listed.

Shareholders in the engineering business will vote on proposals to take it off the Stock Exchange later this month, but Trevor Sands said the company was more focused on preparing for the busy months ahead.

Mr Sands said he was certain the company would have collapsed before Christmas without the support of chairman David Ross, whose takeover offer was made unconditional last month.

Mr Ross controls just over 56% of Cosalt’s shares and needs 75% of shareholder support at a meeting in Grimsby, where Cosalt is based, on Monday, February 27.

Mr Sands said Cosalt and its employees, including 250 at the Aberdeen-based offshore division, felt the business had already turned a corner regardless of the outcome of this month’s vote. He said: “In our minds the change has happened, the future of the company was secured when the offer closed.

“The whole point of the general meeting is that Cosalt runs up a lot of costs as a public company – around £500,000 per year – and we honestly do not get a lot of benefit out of that.

“The reason for being public was to have access to funds, but at the moment those funds are only coming from the majority shareholder.

“As chief executive of a publicly listed company with no access to funds I am focusing on the regulatory requirements, but I would rather be focusing on opportunities to help the group grow and prosper.”

Rod Buchan, chief executive of Cosalt’s offshore division, said morale among the company’s staff was still high despite the firm’s difficult circumstances, adding: “The uncertainty surrounding ownership and stability are now behind us and we want to focus on the business.”

Mr Sands said Cosalt had been able to hold on to employees while its future was uncertain. He added: “I am very proud that we have not lost that technical expertise as we have gone through these tough times.

“The company still has issues to deal with. It still has large debts and the pension-fund deficit has to be resolved.

“That is not going to be sorted out in a few weeks, these are long-term problems, but we are now in a position where we can worry about long-term problems.”

David Ross gave Cosalt a £5million loan to provide capital for investment and has said previously he would take on the firm's multimillion-pound debts and pension deficit if it was delisted from the Stock Exchange."