Airsprung Share Discussion Threads

[kinghorm23] 29/9/2011 07:44

Why stolen, bid was under 20p, price was going nowhere, gives punters a much better price and a chance to invest the money somewhere else and make more.

[cockneyrebel] 29/9/2011 07:35

Stolen at 27p.

CR

[eipgam] 28/9/2011 20:44

if you could buy shares now... price will be interesting when market opens

[daytraders] 28/9/2011 20:21

well they would have to make a offer of at least 27p, so thats 35% more than price now.

[cockneyrebel] 28/9/2011 18:17

whoever has bought it will have to make a bid if they hold any already.

If it's Perloff he'll have to make a bid - I suspect tho that any bid won't be much better if anything than the 27p that lot got sold at. With over 30% he'll call the shots and I bet there's a lot of large holders that would like to get their cash out. Yate's have 9%, they'll sell imo.

Hope APG get a better offer than 27p tho - that will be stealing them.

CR

[newbe] 28/9/2011 17:51

Just under,Redbird never had to make an offer,unless whoever it is have some already of course,i suppose the senior management could have a go as well with 15% already in the bag,interesting times ahead

[eipgam] 28/9/2011 17:43

good point....so it could be someone else trying to cramp Perloffs scheme. Redbird seems to have accepted (to a layman such as me) a pretty lowball offer though. Whoever it is will have to declare tomorrow.

Thanks for your input newbe. I look forward to reading more. If the buyer of Redbirds holding is not Perloff, would they have to make an offer with that s/holding, or are they just under the limit?

[newbe] 28/9/2011 17:36

Providing of course it is Perloff,I reckon he will make an offer that wont be acceptable so end up with a big shareholding,buy the property,have a special divi and rent back to the company,THIS IS NOT FACT JUST THE WAY I SEE IT

[eipgam] 28/9/2011 17:27

The above article was dated yesterday... this one is from a few months ago....



Airsprung Group

* BY: Andrew Hore |
* POSTED: 09/05/2011 |
* COMMENTS: Add yours

Property investor Andrew Perloff has taken a 4.81% stake in beds and furniture manufacturer Airsprung Group and he could be interested in its property assets.

There are freehold land and buildings valued at £6.57m after depreciation in the accounts for the year to March 2010. That includes land and buildings that were valued at £4.95m (before depreciation) at an open market value on 1 April 1997. The rest of the property assets are valued at cost. That suggests that the current value of these assets could be much higher even on the basis of their existing use.

Airsprung is trading below asset value any way.

At 23p a share, Airsprung is valued at £5.5m. The company's net asset value, excluding intangibles, was £9.5m at the end of September 2010, including net cash of nearly £2m. That was before Airsprung acquired the Collins and Hayes upholstered furniture business for £2.3m at the end of 2010. Collins and Hayes used to be quoted on Aim but it went bust in April 2007 and the assets were bought from the liquidator. It is profitable and has an annual turnover of £9.8m. Net assets were £400,000 at the end of April 2010.

Airsprung does have a pension deficit of £4m, although that is taken into account in the NAV.

House broker FinnCap said that the deal was earnings enhancing and increased its 2011-12 earnings per share by 19% to 4.3p a share. The shares are trading on just over five times prospective 2011-12 earnings, although the final outcome will depend on the level of consumer confidence and spending.

Perloff has built up stakes in a number of quoted companies including department stores operator Beale and fully listed shell Highway Capital.

Redbird Holdings is Airsprung's main shareholder with 29.9%. Chief executive Tony Lisanti owns 14.7%.

[eipgam] 28/9/2011 17:20

newbe... got any more ideas. You seem to know this co better than me!!

So Perlofff had 12.7 and has just added Redbirds 29.9 by the looks of things and must have his eye on the property assets that have been flaaged here a year or so ago. I wonder what he will pay? Surely he must launch a full t/o now?



Property investor Andrew Perloff has taken his stake in beds and furniture manufacturer Airsprung Group to 12.7% following the purchase of Schroders' 7.9% stake.

Redbird Holdings is Airsprung's largest shareholder with 29.9%, while chief executive Tony Lisanti owns 14.7%.
At 25.5p a share, Airsprung is valued at £6.09m. The share price has edged up on the back of Perloff's buying. The shares are still trading at a discount to net tangible assets of more than one-third.

That asset value includes land and buildings that were valued at £4.95m (before depreciation) at an open market value on 1 April 1997.

[newbe] 28/9/2011 17:10

look out for Perloff/Redbird

[eipgam] 28/9/2011 17:01

That's third of the company.... there must be a holding RNS soon. Could there be a takeover offer.... anybody got any idea?

[newbe] 28/9/2011 16:46

looks like were are off and running

[eipgam] 28/9/2011 16:44

Anybody got any idea about the >7million trade at 27p at 16.15 (according to ADVFN)

[newbe] 22/9/2011 11:05

Look out for Perloff,sale and lease back?

[cockneyrebel] 20/9/2011 19:40

yep, I'm sure they can, they are just so ruddy hot and cold.

Still a solid co, I have just got a bit stale waiting here so sold a decent wadge.

CR

[lady liz] 20/9/2011 18:54

CR. I got this wrong the last time I posted but all in all things could improve at a stroke as we head into 2012 and the sales. So expect to see a rapid return to former highs late in 2012.

[newbe] 15/9/2011 16:15

I like the way they have been controlling margins and restructuring for the last 5 years

[cockneyrebel] 15/9/2011 13:00

Poor statement.

Fortunately I've managed to reduce a decent amount in recent months.

I still think things will improve here over the coming year tho - oil and energy likely to fall in price more imo, will reduce input costs too imo.

CR

[ursus] 05/7/2011 08:43

You'll never tempt Liz into this bed now, CookingtheRouble, springs are gone and she needs a soft landing.

[cockneyrebel] 05/7/2011 07:53

trouble passing on higher costs short term imo.

things will improve imo.

CR

[hybrasil] 29/6/2011 15:37

I was right

[hybrasil] 22/6/2011 22:49

Andrew Perloff again?

[cockneyrebel] 22/6/2011 15:32

Hmmm, rather large trades to say the least.

CR