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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Romag | LSE:ROM | London | Ordinary Share | GB0033665729 | ORD 25P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 35.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 35.50 | GBX |
Romag Holdings (ROM) Share Charts1 Year Romag Holdings Chart |
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1 Month Romag Holdings Chart |
Intraday Romag Holdings Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 28/6/2011 | 07:36 | ROMAG HOLDINGS - Clean Energy from Photovoltaic Glass | 1,066 |
| 25/8/2009 | 15:02 | Romag Holdings: Q1 2007 Target = 400p | 41 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 04/4/2011 15:30 by asparks surely the market has a right to be informed what ROM was sold for?Strange buyer too |
Posted at 04/4/2011 13:52 by neilrr That's bad.Commiserations to all share holders, PIs get it up the gary again. |
Posted at 01/4/2011 15:43 by utterberk If they took the company private again at a significant discount to the market price before the "gift" was given, then the gift would be from shareholders to the Kinnears. |
Posted at 25/3/2011 12:05 by future financier I met JK a couple of times - a really nice decent bloke and certainly no crook. I suspect he did this because he was afraid of the effect the hole in the accounts would have on the share price - and the fact that this could leave Lyn's executors having to pay Inheritance Tax that was greater than the value of the shares in ROM that she owned.VERY VERY SAD. I don't own but had been contemplating doing so until personal circumstances meant I needed the money elsewhere. Hopefully ROM's fortunes (and mine!) will improve. |
Posted at 01/2/2011 07:29 by masurenguy Undisclosed payment sparks Romag suspensionMon 31 January 2011 Shares in Romag Holdings have been suspended following the discovery of a payment to the company by its executive chairman John Kennair. The share price had already fallen by 5.5p to 35.5p by the time that the shares in the AIM-quoted specialist glass manufacturer were suspended at 3.55pm. Altium replaced Arbuthnot as the company's nominated adviser and broker last week and it was notified of the payment today. The board admits that it should have disclosed the payment earlier. The non-executives are commissioning an investigation into the transaction and corporate governance. Kennair owns nearly 12% of Romag, which has found trading tough in the past year and it has had to write down £6m from its balance sheet, which relates to stock and intangible assets. There have also been problems with a supplier of photovoltaic cells. Net debt was still reduced by £2.2m in the year to September 2010, from £18.5m at the end of the previous financial year. Last week, Romag said that it had received a conditional offer of new debt facilities from Lloyds Banking Group. The terms have yet to be finalised but it is expected that they will include a commitment fee and an increase in the overall cost of the company's borrowings going forward on an annualised basis. The figures for the year to September 2010 were going to be published when the refinancing was secured. |
Posted at 31/1/2011 17:06 by masurenguy Masurenguy - 6 Sep'10 - 955: There are a number of issues that urgently need to be addressed here and until they are the share price is likely to continue to drift down. 1. Following the sad death of Lyn Miles in June they need to appoint a new CEO. The company needs strong leadership to tackle its current challenges ! 2. They need to announce the extent of the inventory write downs. 3. They need to look at their financial arrangements because it appears that they are getting close to the ceiling on their debt facilities. 4. They need to issue a further trading statement covering points 2 & 3 above plus a range indication of the likely year end loss. This cannot wait until the December results since markets hates uncertainty and the share price will be punished further until some tangible information is provided. We are now close to the all time share price low of 31.5p in March last year when directors bought 225K shares @31.75p. I took profits and sold out at 62p last December but would not consider buying back in until the above issues have been resolved.floppyhat - 6 Sep'10 - 958: Nah. Priced-in, baby. It's all priced in. Romag are only going to make a technical loss for the year. They were barely a hundred grand up for the first six months, anyway, so any bottlenecks were bound to take them into the red. Customers with credit trouble will pay up eventually, the component suppliers will fulfill their obligations eventually, and the inventory write-down is a giant clue that the infant market for photovoltaic glass is getting more affordable by the day. mudbath - 9 Sep'10 - 962: Masurenguy suggests that ROM have little or no headroom in their banking facilities. If such a problem were to evidence itself,then we might see a particularly sharp sell off. frogkid - 9 Sep'10 - 966: I'm with Masurenguy. Have held these on and off for a few years and done OK but I was caught out by that profit warning. Some say they come in threes. I would not add any until debt, finance etc is cleared up. Hate to say it but these problems were raised 4 months ago. They clearly have serious cashflow issues "As previously announced, following exceptional costs of approximately GBP6 million in relation to the confirmed write down of stock announced on 4 October 2010 and the impairment of intangible assets notified on 7 December 2010, Romag will report a loss for the period ended 30 September 2010.....Subsequent to the exceptional costs incurred during 2010 the Company has entered into negotiations with its current lender to provide amended banking facilities. The Company has now received a conditional offer of new debt facilities from LBG which it is in the process of negotiating the final terms of and the bank remains supportive of the Company. At this stage the terms have yet to be finalised but it is expected that they will include a commitment fee and an increase in the overall cost of the Company's borrowings going forward on an annualised basis. The Company has today appointed Altium Capital Limited as its Nominated Adviser and Broker to assist in the negotiations with LBG and with our ongoing relationship with equity investors. Why suddenly switch Nomad from Arbuthnot to Altium at this late stage in their negotiations with the bank, especially when they acknowledge that part of the reason is to "assist" with refinancing negotiations. This implies that Arbuthnot either couldn't help them get the deal that they needed or didn't believe that a viable deal was possible. The RNS on Friday would not have been required if the negotiations with LBG were a done deal. As we all all know, bank lending is still very restricted particularly to small companies who are carrying existing debt. The year end results are also late - they're supposed to be published within 3 months of the year end (Dec 31st) as has been the case over the past 4 years. This delay suggests that there could be also be "audit" and "going concern" issues that may have delayed the final accounts being signed off in the absence of the conclusion of the regnegotiation of bank finance facilities. The second RNS stating that "various matters should have been disclosed at an earlier date" does not inspire confidence either. Could John Kennair have been moving cash around to keep the bank happy and creditors at bay ? Furthermore they have not replaced Lyn Miles either, some 7 months after her sad demise, at a critical time where the company really needed some strong and effective leadership. This does look very ominous to me but I really hope for the sake of remaining shareholders that they can somehow find a satisfactory resolution to these financial issues ! |
Posted at 09/9/2010 12:05 by masurenguy mudbath - 9 Sep'10 - 962: Nothing like rubbing it in is there for some.I'm not "rubbing it in" to anyone. I originally posted this comment last Monday and have absolutely no axe to grind since I sold my entire holding last December and have just been looking out for a potential re-entry point as I clearly stated at that time. Masurenguy - 6 Sep'10 - 955: There are a number of issues that urgently need to be addressed here and until they are the share price is likely to continue to drift down. 1. Following the sad death of Lyn Miles in June they need to appoint a new CEO. The company needs strong leadership to tackle its current challenges ! 2. They need to announce the extent of the inventory write downs. 3. They need to look at their financial arrangements because it appears that they are getting close to the ceiling on their debt facilities. 4. They need to issue a further trading statement covering points 2 & 3 above plus a range indication of the likely year end loss. This cannot wait until the December results since markets hates uncertainty and the share price will be punished further until some tangible information is provided. We are now close to the all time share price low of 31.5p in March last year when directors bought 225K shares @31.75p. I took profits and sold out at 62p last December but would not consider buying back in until the above issues have been resolved. Since then the share price has dropped by a further 22% in 4 days, from 34p to 28p. That does not make me either right or smart but it is illustrative of the concerns that I raised then. My comment to floppy hat was purely down to his dogmatic response that it was "Priced-in, baby. It's all priced in.". I don't know where the bottom is, neither does he or anyone else. His view was probably more motivated by concerns emanating from his prior post just over two weeks ago rather than any current objective assessment since he is now down by 33% ! floppyhat - 22 Aug'10 - 950: I'm all-in again at 42p, and can't wait for the next steep incline. Bring it on, baby! My comment on their debt facilities was only one of 4 issues that I raised. I don't know how close they are to their covenants but the public domain information suggests that they don't have much headroom to play with especially if cashflow is suffering from delayed orders and/or payments. In the current climate any small company that might be close to their debt limits makes investors naturally nervous ! |
Posted at 09/9/2010 11:27 by masurenguy PUGUGLY - Romag is an AIM company which has no dual listing on any other overseas 'recognised stock exchange' so shares held by Lyn Miles pre-June 2008 will be excluded from IHT. The exemption certainly applies to shares purchased 'over the counter' since AIM admission. However I don't know if there are any qualifying IR regulations that apply to shares owned prior to the IPO or post IPO shares acquired via share options. You would need to ask a Tax Advisor to clarify whether they would be treated any differently from conventionally purchased shares.floppyhat - 6 Sep'10 - 958: Nah. Priced-in, baby. It's all priced in. Yeah right - "all priced in" but despite your assertion they are down another 12.5% today. It is foolish to express dogmatic views on issues such as this ! The continual fall is probably due to the issues that I raised in post #955 last Monday. The market really hates uncertainty and the shares are now priced at an all time low since their IPO some 7 years ago ! |
Posted at 06/9/2010 15:03 by floppyhat Nah. Priced-in, baby. It's all priced in. Romag are only going to make a technical loss for the year. They were barely a hundred grand up for the first six months, anyway, so any bottlenecks were bound to take them into the red. Customers with credit trouble will pay up eventually, the component suppliers will fulfill their obligations eventually, and the inventory write-down is a giant clue that the infant market for photovoltaic glass is getting more affordable by the day. As for Lynn's shares, in my view, what kind of ungrateful recipient of them would chuck the lot onto the market, and go live-it-up on the proceeds? And even if they did, the total number of shares she owned would not constitute an overhang. This share price is displaying all the classic signs of unwarranted panic. |
Posted at 06/9/2010 13:52 by masurenguy There are a number of issues that urgently need to be addressed here and until they are the share price is likely to continue to drift down.1. Following the sad death of Lyn Miles in June they need to appoint a new CEO. The company needs strong leadership to tackle its current challenges ! 2. They need to announce the extent of the inventory write downs. 3. They need to look at their financial arrangements because it appears that they are getting close to the ceiling on their debt facilities. 4. They need to issue a further trading statement covering points 2 & 3 above plus a range indication of the likely year end loss. This cannot wait until the December results since markets hates uncertainty and the share price will be punished further until some tangible information is provided. We are now close to the all time share price low of 31.5p in March last year when directors bought 225K shares @31.75p. I took profits and sold out at 62p last December but would not consider buying back in until the above issues have been resolved. |
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