has clh bottomed? also take over speculation!

CLH Collection House ran up to $1.90 or so the other day and we heard that a possible t/o was on its way.

Looks like a buy at these levels after coming off considerably.

Recent buying in Collection House shares by its directors have suggested something is looking good.
The Financial Review has just recently made a brief mention that it is a take over target for Sweden's International "Intrum Justitia" see> http://www.intrum.com/ This can be backed up by a new Substaintial Shareholder announcement as released 30-Jul-2003 09:18 CLH Becoming a substantial holder - The new substaintial shareholder is Mr. Bo Sven Goranson and associated entities. Bo Swen Goranson is a non executive directior of Collection House and his Father, Mr. Sven Goranson founded Intrum Justitia in 1923 and it was then subsequently taken over by the son.

Take Over speculation + Directors buying large parcels of shares! Mmmmmmmmm You don't need to be Sherlock Holmes to figure this one out!

Extracts from Intrum Justitia site>

Welcome to the world of
Intrum Justitia

Intrum Justitia Group is Europe’s leading Receivables Management Services company. The Group has a turnover of SEK 2.8 billion with more than 2,800 employees in 21 European countries. Intrum Justitia offers efficient high quality management of commercial and consumer receivables to more than 80,000 clients.

As of 2 January 2003, the Intrum Justitia share is listed on the Attract40 segment of the O-list on Stockholmsbörsen (Stockholm Stock Exchange).

Mergers & Acquisitions

2001: Acquisition of D&B RMS and Vía Ejecutiva 2002: Acquisition of Stirling Park and Jean Riou Contentieux. Divestment of Créancia 2003: Acquisition of Cofreco

Acquisition strategy
Intrum Justitia is seeking to widen the scope of its operations and thus cut operating costs per case, leading in turn to superior overall efficiency and profitability. Although the primary aim is to grow organically, the company continually studies opportunities for acquisitions.

By conducting selective acquisitions, Intrum Justitia can:
• Strengthen its position and raise corporate awareness of the company in established markets;
• Attain greater economies of scale;
• Achieve cost synergies;
• Gain crucial experience and know-how in existing or new services;
• Broaden its client base;
• Launch the entire service range in countries in which the company is active;
• Establish a presence in new European markets.

Acquisition of D&B RMS
In May 2001, Intrum Justitia acquired the European RMS operations of Dun & Bradstreet. D&B RMS was one of the largest European RMS players both in terms of revenues and gross collection value. On the acquisition date, the company had 510 employees and provided services in sales ledger management, consumer debt collection, commercial collection and international collection services to some 17,000 clients in twelve European countries.
_______________________________

Also see http://www.collectionhouse.com.au/ for further information.


Recent Company Announcement Headers

30-Jul-2003 09:18 CLH Becoming a substantial holder
22-Jul-2003 11:31 CLH Change of Director's Interest Notice
22-Jul-2003 11:30 CLH Change of Director's Interest Notice
15-Jul-2003 10:09 CLH Change of Director's Interest Notice
11-Jul-2003 11:06 CLH Change in substantial holding
10-Jul-2003 12:55 CLH Change of Director's Interest Notice