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Real-Time news about Abbeycrest (London Stock Exchange): 0 recent articles
|snozzy: Have been buying here over the past week when stock has been available. Not sure whether we need news for the share price to move upwards or if the lack of shares with continued buying will be sufficient to get us moving?.......|
With Gyllenhammar having 30% of the company, he would certainly have been consulted, so I think it can be taken as read he will vote it through. He probably had a hand in setting those share price targets, as it gives him an exit strategy as well.
I suppose the other thing is that with the company being so small the value of the options isn't huge, the company would be valued at £14.6m at 20p, so they would share approx £1m between them, if the exercise price is 9p.
Simon Ashton is paid 150,000 and the other directors £100,000 according to the placing document, so this is a big part of their potential remuneration.
Still think the proportion of the company being optioned is way too generous though.|
Thanks for bringing that to everyone's attention. While I'm in favour of aligning the directors and shareholder interests through the use of options, to grant options to the directors for 12.72% of the entire company is staggering.
I'm not sure the EPS targets are that challenging, as we're already into year 2 of the turnaround when the benefits of the new strategy should already be coming through.
At least though the share price targets are much more difficult, this company is never going to be that highly rated especially after what's happened recently, so applying a p/e of 7 to 2012 earnings of 1.7p gives a share price of only 12p, so I think they will have to go some to get the price above 20p|
|rainmaker: Knowing, You won't see any more buying from Value Investor and new Abbeycrest shareholder,Peter Gyllenhammar as he reached his target holding of just under 30% where he sits and waits for the gap to intrinsic value to be closed through a rising share price. I think he has timed this one pretty well and I don't think he'll have to wait for a good return here.
I like what I seen here-new Management have made a real difference in driving the business forward-cost cutting, falling stocks and debt the Company have abandoned the low price/low margin commoditised end of the market in favour of more expensive value added products. In short I believe there is terrific potential here. Riskier than you average Value share though.
|knowing: Abbeycrest (ACR, 7p, £5.15m), the international jewellery designer and manufacturer, reports a trading update since the interims to 31 August 2009. Performance has remained strong despite the increase in gold price, which continues to negatively impact demand and the adverse impact in forex movements, especially in the Hong Kong dollar and Thai Baht. The rise in gold prices is increasing pressure on margins. Underlying profitability, working capital and net debt continue to improve y-o-y. The £1.0m outstanding loan is due to be repaid on 28 February 2010 - Abbeycrest is making progress on a number of options in relation to final settlement. The business is stronger in H2 due to the inclusion of trading to the run up to Christmas. We believe higher unemployment, tax and interest rate expected in 2010 will weaken consumer confidence. Previous broker forecasts of PBT of £0.65m and EPS of 0.85p, have been withdrawn from the market. As we had stated in the interims, we thought the group would have struggle to achieve those numbers. Since our Sell recommendation on 23/10/09, the share price has fallen 26%. We upgrade our recommendation from a sell to a HOLD.
|jaykaytee: I've been watching these for a while. They've been loss making for a couple of years which is reflected in the share price. However Peter Gylennhammer has been steadily building up his stake in the company, most recently he bought over 100k shares at approx 16p. I wonder what he sees in the company that others don't. Any comments would be greatly appreciated.|
I think you are absolutely right. It is all about the next 12 months.
I had hoped that a recovery would be more pronounced and clear-cut.
I'm still hoping for a profit next year of at least £3m, and a return to dividend payments. That should justify a share price of at least 60p, even with the tarnished reputation.
In the meantime, I still keep thinking that a buy-out is not inconceivable.|
|nickcduk: I would imagine its an existing shareholder that is increasing their holding in ACR. There are quite a few chunky holdings on the shareholder list who are buying a few more now that a recovery is under way. Ive written an email into the company to see if I can speak to a director about prospects. Ive not heard back from them yet but if I can arrange it and anyone has any questions they would like to put then im happy to do so.
I think there are still a few stale bulls around Rainmaker. If there weren't the heavy buying wouldn't be taking place without the share price moving markedly higher. About 3% of the company has switched hands over the last few days so announcements will be due soon. Hopefully that will give us a better idea of how much more stock there is to shift.
I wouldn't mind seeing some substantial director buying to give further credence to the recovery story. The ACR board have never really been active in trading the stock so I guess its not the end of the world if they don't dip their hands in their pockets.|
|rainmaker: Working Capital less all liabilities is approximately double the current share price at 43p so there's plenty of scope for further rises if they can sustain the recovery in the Co's performance!
|rainmaker: Appears that someone sold £1k at 20p and the share price falls apart from 20/23 to 17/20 although bought 2k just before the close at 20p
Abbeycrest share price data is direct from the London Stock Exchange