Amberley Grp. Share Discussion Threads

[barnetpeter] 23/9/2004 20:04

Maybe tiltonboy but they have got plenty of cash now (plus a mere 15m in tax losses) and the green light is definitely on.My point is that the gearing hre is exceptional, bearing in mind the amount of time left and the fact that the warrants are in the money and (I think?) exercisable at any time.

[tiltonboy] 23/9/2004 19:58

With such a small free float it wouldn't take much to get the price up, but apart from a tip, they probably won't move until some action is close. Hopefully that will be sooner rather than later.

tiltonboy

[barnetpeter] 23/9/2004 19:44

Warrants moved up to 2p bid i see. They are extremely cheap - one penny rise in AMB will mean a near 50% rise in the warrant (the offer anyway).

[supermum] 22/9/2004 15:22

ok - not showing on my radar - thanks... Comdirect are not showing them on my account yet either... but a rise like this for aday or so wont go amiss.... ;-)

SM

[tiltonboy] 22/9/2004 15:11

SM,

Not very alert today. They started this morning. Opened 1-1.5p, now 1.5-2.25p.

tiltonboy

[supermum] 22/9/2004 14:46

looking forward to seeing what price the warrants start at...;-)

SM

[tiltonboy] 22/9/2004 14:25

The position re the number of shares in issue, and who owns them, clears.

Post the rights issue the Directors own 65.8% of the Ordinary share leaving 12m in free circulation. In addition the Directors own 77.4% of the Warrants, leaving only 18.55m in free hands.

It wouldn't surprise me to see the company starting to benefit from some press comment, and with the shares so tightly held, the market could get quite thin.

Let's hope they can do a deal sooner rather than later.

tiltonboy

[rambutan2] 22/9/2004 14:23

good take-up...

Rights Issue - Level of Acceptances

The Amberley Group PLC ('Amberley') rights issue closed at 9.30am on the 21
September 2004. Amberley received valid acceptances in respect of 10,755,201
Rights Units, representing approximately 91.7% of the total number of Amberley
Rights Units being offered.

The Rights Units not taken up by shareholders have been placed by the
Underwriters with Barry Pincus and Robert Goldsmith, both directors of Amberley,
at a price of 10p each.

There are now 35,192,158 Amberley Shares and 82,115,033 Warrants in issue.

Dealings in Rights Shares, fully paid, and in Warrants will commence on the 22
September 2004.

The directors of Amberley accepted in full their entitlement to Rights Units.

The directors' holdings and percentage of Amberley's issued share capital
following the rights issue are:

Shares Warrants

Guy Naggar 11,097,411 (31.5%) 28,344,974 (34.5%)
Barry Pincus 487,718 (1.4%) 3,414,026 (4.2%)
Robert Goldsmith 487,718 (1.4%) 3,414,026 (4.2%)


Peter Klimt now holds 11,097,410 Amberley Shares (representing 31.5% of the
issued share capital) and 28,344,974 Warrants.

[barnetpeter] 10/9/2004 20:34

Poor day today but I suppose was to be expected.

[tiltonboy] 10/9/2004 12:39

Just one small correction from a previous post, concerning the number of warrants in issue. The underwriters are taking their fees by way of an issue of warrants(canny lot), and can be issued with a maximum of 11.73m warrants. However, if the price of the warrants averages 2p, for the first fifteen days of trading, there will only be 1.17m warrants issued.

tiltonboy

[cambium] 09/9/2004 21:45

Bloody Hell BarnetPeter, go and have a ly down now, you have deserved it. ;o)

[barnetpeter] 09/9/2004 21:03

Really am not sure what to explain but here goes.

You buy an AMB nil paid units. It costs you 18p (at close). You have to execise and pay a further 10p next Thursday.

For that 28p you get one share (value 13p bid) and seven warrants to buy more shares. Each warrant gives you the right to buy a share at 10p so they are worth 3p minimum.

So the unit is theoretically worth a minimum of 7 times 3p plus 13p or 34p.

But ....

A warrant also attracts a time premium because of the high gearing. You can gain as much exposure to the shares by buying the warrants at a much cheaper price. That costs extra so the warrants are tonight worth 4.5p bid.

I say each unit is worth about 48p in offer terms and perhaps 43p in bid terms against the market price of 28p (after the add-on 10p).

We do not know whether the price will hold up. It may fall back although the signs are encouraging. The price cannot go below a certain level because of the cash the company has. If there is a sniff of a deal then 25p is possible and the warrants will explode.

Is this high or low risk? I actually think the latter. The downside is limited to around 8 or 9p per share but the upside is just huge. The shares are tightly held and the new Board are clearly not wanting to hang around for long. They want their cash and out. They have constructed a deal that looks very atractive to an entrepreneur looking to get into the market

This is obviously still a punt which might disappoint. But I feel good about this one and I trust my instincts.

[dalcon01] 09/9/2004 19:04

barnpeter,
Please explain as oxford blue has asked???

[barnetpeter] 09/9/2004 18:31

Cannot believe the lack of interest on this thread?

[barnetpeter] 08/9/2004 08:47

Now 12%. If this is held, the units are a give away even at the new price.

[barnetpeter] 08/9/2004 08:25

Amb currently up 6%. Just look at the impact that has on the warrants - you can do the maths.

[oxford blue] 07/9/2004 22:10

I'm still depserately trying to understand about AMB and AMBN. I'm interested. If any of you can link me to more, I'd be grateful. I'm confused about switching from ords to units. Moreover, are the warrants straightforward warrants - or is there anothe rpayment attached to them. What is the expiry date? Is there a market for them? Is it possible to put a case for these in a few sentences?

Sorry if I'm gatecrashing a private party here. :)

[barnetpeter] 07/9/2004 17:43

HARGREAVES got me 20,000 at 12.5p. I think that was a fair price. Two mm's were quoting; one at 14p.

We still need a new thread - agreed?

[tiltonboy] 07/9/2004 11:36

I've just partially switched out of the Ords into the Units. Struggled to buy 10,000 Units at 13.75p.

tiltonboy

[rambutan2] 07/9/2004 11:18

who do you use bp, thats a v good price. i cant get a quote below 14.

[barnetpeter] 07/9/2004 09:10

Very tight market but picked up some at 12.5p today.

[barnetpeter] 04/9/2004 12:23

Someone want to start a new thread?

[tiltonboy] 04/9/2004 11:16

bp,

On top of the current £2.5m, there are future, substantial, funds to come from the exercise of the warrants.

tiltonboy

[barnetpeter] 04/9/2004 11:07

Maybe tilton. I see IC tells folk to ignore the offer. OK it is not blue chip but then what on earth would you be in this stock if you didnt want high risk? There must be plenty of high quality small companies who would be greedy for the 2.5 m cash to agree to a deal. Buy I say.