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BLGH Bullough

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Bullough LSE:BLGH London Ordinary Share GB0001532059 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Bullough Share Discussion Threads

Showing 76 to 99 of 100 messages
Chat Pages: 4  3  2  1
DateSubjectAuthorDiscuss
25/4/2003
10:59
The figures from the final results for continuing operations are as follows:
2002 2001 2002 2001
Turnover Turnover Op Profit Op Profit
#'000 #'000 #'000 #'000
Workplace Solutions 49,216 62,750 (5,377) (4,712)
Temperature Control 19,261 18,493 1,246 1,037

the board has stated that it has received an approach to buy part of the business, which would net more than the offer from Montpellier fro the whole company - £ 6.22 mln

If I were the board I would sell Workplace Solns, as this is having a heafty negative effect on the P&L. If they can get > £6.22 mln for this, what are they able to get for Temp Control??, and therefore what would be a fair value for the company as a whole at the present stage??

I am looking to swap my holding in ASC into here, but waiting for ASc to confirm the MBO price first, which I feel could be within the next week or so.

I am looking at a reasonable price target here of 30p

sportbilly1
24/4/2003
15:04
no-one here.

this co has had an offer made of 12p a share but are currently in talks regarding ONE division for more than the offer for the whole company !!!

IMO definitely a buy with a target of 40p, given that NAV is 48p

sportbilly1
24/9/2002
08:57
Now 7.5p versus 50p value. results tomorrow. not looking good or is it a bargain?
sscrabble
28/5/2002
10:35
Buying MPL is good timing as company made a lot of moves last year and
consolidating now.Next results will be a cracker .

hv
28/5/2002
10:06
You may get a wider exposure to similar situations via an investment in MPL. See separate thread.
pacman88
28/5/2002
10:01
anyone know what was said at the AGM on 24th May....thanks
im001
29/4/2002
14:46
Agree with you. Especially as Montpellier an agressive very well run
company has 29%.Worth buying .Director bought nearly 400,000 at 21p .

hv
17/4/2002
08:10
price 26 p vs NAV 50p/share
dimitry12
15/4/2002
15:20
Lots of action today, most welcome, anybody any idea why?
Cheers.

cleave
24/3/2002
07:47
I agree with all of the above, my only concern is that they are still going to in a £13m loss situation after the disposal and i dont think bulloughs other businesses are doing that great. PPS was also bulloughs biggest customer on their office furniture side and whilst they will still trade I think PPS can get as good if not better prices / terms elsewhere in the market.

As Ive said before, why would Montpellier want to get into manufacturing, which I believe to be quite different from their other areas, unless they would take over and dismantle some the business completely. Whilst Im not selling at the moment, Im not confident enough to buy.

cleave
23/3/2002
16:25
I have received the Bullough documents for the vote next month about the disposal relating to the Trillium contract - you can find more about this on the newswires - it makes interesting reading. Bearing in mind the fact that the disposal was talked about before Gylennhammar (through Montpellier) bought into his increased stake late last year, and the bid speculation at the same time, I noted from the documents sent to me in advance of the EGM that the directors have given an irrevocable undertaking to vote in favour of the resolution, and it goes on to say that Montpellier Group (effectively Gylennhammar)

''which holds approximately 29.9% of the voting rights exercisable at any general meeting of the company, has given the company an irrevocable undertaking to vote in favour of the resolution at the EGM''

Taking all into account, I wouldn't want to bet against what might happen next - think about it - a stake is built up to the level just below which a formal bid for the remainder must be made - the potential bidder irrevocable decides to vote for the resolution - the consequences of the vote going the wrong way don't bear thinking about, and with the directors holding 1.9% and Montpellier holding 29.9% that would seems increasingly unlikely - the company's bankers have said that they will have to review the company's borrowing facilities on 15 April if the vote rejects the resolution, but have said that they will continue to provide facilities to meet the companies requirements if the disposal is approved. Bearing in mind the fact that NAV is stated as being above 40p a share if the disposal does go ahead, then these shares at half that price today offer lots of upside - especially so with a 29.9% stake having been built up. What would be the point of a stake at that level, though clearly no bid will happen until after the EGM due to the fact that a 'yes' vote is needed to make the company's future viable.

Personally, taking all into account I would expect some action after a yes vote, and on that basis, would be buying rather than selling at this stage - as always, DYOR

jone3261
20/3/2002
12:11
Can anyone hazard a guess as to when the EGM might be and are final results due to be announced at it.
211289
14/3/2002
00:56
Any one know when the final results will be announced ? Thanks
kirbydon
13/3/2002
19:29
Whatever any of us might be guessing at, the fact is that Montpellier have put together a stake at just under 30%, which is as close as they can be withut making a formal bid. There must be a purpose for it, and yesterday's announcement to the market just after 6.00 pm confirmed the stake at that level - also amongst the Bullough company statement about the contract disposal was the following:-

''After allowing for all costs of disposal, net assets per share at Dec 31
2001 was 45.8 pence.''

Unless there is a touch of 'Andersen' about it, we will have to belive the figures for now. On the face of it, the shareprice does not reflect the 'value' of the assets. I bought in to the company initially for that reason (late last year) and whilst the price has sagged back this week, I'm not sure that the disposal announced this week wasn't actually GOOD news. I also remember reading late last year that this was all expected anyway, and maybe that was why the Montpellier stake was built up - in the anticipation of that event.

Whatever we may speculate at, a threatening stake has been built, NAV is much higher than the share price, and that bid that was talked about late last year still has a good logical reason to be taken forward. I'm not sure that now is the right time to bail out of this one - the price might be volatile, but bearing in mind the NAV, isn't there more upside than downside??

jone3261
13/3/2002
14:57
211289

We all have to start somewhere, the montpellier thing has been going on for a while, and some us did okay when the shares rocketed on a tip back in Jan, but not much since. BLGH are planning, to stop production at their Flexiform site in Bradford and transfer this to Derby, to further cut costs, I just dont see why Montpellier would want to go into manufacturing, unless its the actual land they want for future developing.

I have cashed in some of the profits and left a bit in the ring to see what happens, the EGM should prove interesting.

cleave
12/3/2002
11:15
New to the game and blindly following Goldfingers tips at the moment -- looks like I've got a lot to learn.
The general view of yesterdays announcements seems to be negative, judging by the price movements -- here's hoping that it clears the decks for Montpellier -- any views?

211289
12/2/2002
17:28
Have heard that blgh are looking to offload their product procurement business at the end of Feb, this was what they indicated was making the most loss in their interim report, maybe without this albatross, montpellier will make their play!! I think they maybe worth holding on to. Fingers crossed.
hawkeye10
05/2/2002
00:02
Only concern is that there is a non-exec director from Montpellier on the Board who appears to be helping them to rationalise the business and in the long run extract value. The problems with selling the temperature control business is not good but better to hold of then to sell it for a stupid price. I know Montpellier like to hold a majority stake without the hassle of taking a company out just like they have been doing in a few of the other investments. Why does anyone think that Bullough will be treated any different?
greenspamster
04/2/2002
08:42
Redundnacies are in the pipeline, the final trimming down before the swoop perhaps?
hawkeye10
01/2/2002
21:15
Interesting comment here - I agree with Hawkeye. Montpellier have as much as they can without launching a bid. No-one would accumulate 29.9% without some intention to go further.

I bought in to this one in mid December at 18p on the basis of the Montpellier stake, and the fact that the price then stood at a huge discount to the net asset value per share.

There is value in this one, though it took a 'tip' to shake the price higher. Buying on a tip (that is, after the tip is common knowledge) is almost always the wrong time to get in as the price will have been marked up accordingly.

I sold half of my holding after the rise with a 60% return, just to protect the profit element on the remainder. I am going to keep the rest as I am sure that there is more action here - however long it takes

jone3261
31/1/2002
19:07
Confused by Yashblaggans comments. Montpellier cant buy any more stock without taking over blgh completely, is it not in their interest the value stays up?
hawkeye10
30/1/2002
10:27
YASHBALGGAN,

Do you mind repeating that.

justjim37
30/1/2002
08:38
this share is a bloody rip off......the mm's have got everyones money and are now going to bid it dwn to what i was last friday (which was 19p to buy).....pls do not fall prey to the m.m's....as they had only bumped up the price on the stock on monday cleverly....assuming a bid was to take plce.
and this has been all triggered off by goldfingers tip in a magazine called stock market confidential.......(his tips have a suuccess rate of 10 percent.
the only one i saw move was cab ...due to the high volume ....pls beware of this kind of scam.
comments pls.............as i have lost loads of money on his tips

yashbalggan
30/1/2002
08:38
this share is a bloody rip off......the mm's have got everyones money and are now going to bid it dwn to what i was last friday (which was 19p to buy).....pls do not fall prey to the m.m's....as they had only bumped up the price on the stock on monday cleverly....assuming a bid was to take plce.
and this has been all triggered off by goldfingers tip in a magazine called stock market confidential.......(his tips have a suuccess rate of 10 percent.
the only one i saw move was cab ...due to the high volume ....pls beware of this kind of scam.
comments pls.............as i have lost loads of money on his tips

yashbalggan
Chat Pages: 4  3  2  1

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