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Cobham

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Dod1010
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Cobham

#3655

Postby Dod1010 » November 11th, 2016, 10:42 am

On the TMF Board, I mentioned that I had written to the Chairman complaining about their strapline 'The most important thing we build is trust' and asked for his comments. Having checked with his PA to ensure that he had received the letter, I have not had the courtesy of a reply. I do not regard that as a good sign because whatever they need at the moment, they need the support of every shareholder they can find.

My holding was never very big and it was currently only a few thousand pounds, so I took advantage of yesterday's rise to sell my holding. That may be interpreted by others as a 'buy' signal but I am just not happy with the prospects for Cobham, at least in the short term. These concerns are company specific because the industry looks reasonably OK, but I fear that the incoming Finance Director my well recommend a cancellation of the dividend and maybe even another rights issue. My loss is around 25% of my cost price and has been cushioned to some extent by the proceeds of the sale of my rights in June.

What to buy though?
.

Paultry
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Re: Cobham

#4183

Postby Paultry » November 12th, 2016, 2:28 pm

Dod1010

I purchased Cobham in late April at 175p, I had been considering buying for some time and saw this as an excellent opportunity and took up the rights in full.

The Fool articles on Cobham up to April this year were generally upbeat (6/8) and the discussion board chatter was overall positive, together they certainly influenced me to buy.

Since May the Fool articles had become quite negative (9/10) and the discussion board comments gravitated toward being of the disgruntled variety.

I normally just buy and hold, but thankfully your thoughts, comments and actions have alerted me to the opportunity of an exit while still in positive territory.

Paul

Dod1010
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Re: Cobham

#4502

Postby Dod1010 » November 13th, 2016, 3:39 pm

Paul

Cobham was a good company but seems to have lost its touch in the last couple of years. I did not take up my rights but I certainly thought that the rights issue was a one off to correct a funding issue arising from their big acquisition but it now looks like too little and fundamentally it was a big mistake to leave the interim dividend in place. So I think they could well be back to square one. That will not go down well in the market, and they will rightly or wrongly lose a lot of credibility if that happens.

But please do not just follow me!

Dod

Dod1010
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Re: Cobham

#8088

Postby Dod1010 » November 23rd, 2016, 10:54 am

All you who still hold Cobham may have noticed in newspaper reports this morning that the Chairman, John Delaney is apparently stepping down. That would I guess explain why he did not respond to my letter to him.

Where I wonder does that leave Cobham? Almost rudderless for the moment and it is a bit like Manchester United after Sir Alex and David Gill stepped down at the same time, except a bit worse.

I am very happy to no longer hold.


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