BCB Holdings Share Discussion Threads

[moreforus] 06/2/2012 19:49

What ...tonight??

...if you can buy 10k shares a day at 20p and sell em at 27 that could make quite a nice living ...

[horace678] 06/2/2012 19:05

If you're quick you can sell at 27p and re-buy at 20p, thereby increasing your holding. I have managed this trick once.

[moreforus] 06/2/2012 18:46

Yep agree with that!

[hjfe] 06/2/2012 18:36

Just like the Grand Old Duke of York, as Horace said!

Still, looks like a good buy to me at 20p.....

[moreforus] 06/2/2012 17:26

....and down with a bump ...sadly it's just that type of illiquid share...

[horace678] 06/2/2012 16:53

Thanks for your reply MoreForUs, it makes sense that the buys are coming from a few people and being divided up into chunks.

[hjfe] 06/2/2012 08:46

It will be intersting to see if this wakes up when the US markets start trading - that would indicate that some of the buying is from the fund you mentioned.

[moreforus] 06/2/2012 05:49

No it's several people ....I bought last week ...I had to split my buys as the stock is illiquid and TDW want a premium for small size if people are buying ...that's why there was such a dramatic rise last year - everyone buys and the price surges dramatically , this happened to WGP too earlier this year - that has only 2 mm's and again had a dramatic surge (it fad been tipped but the market mechanics are the same). It of course cuts both ways in highly illiquid stocks ...when everyone sells...which might explain why it came down with a bump...

so if you wanted to buy 10k shares then you would probably have to split that into two ot even three bites ..the nms is a 1000 shares (I'll double check ...) which means the market can charge premiums or offer discounts for anything over 270-300 gbp worth of stock.

[horace678] 05/2/2012 21:43

Small trades might indicate PI's in other circumstances, but the relentlessness and consistency of the trades indicates to me that it is one person (or firm) with deep pockets who is driving the price up. The share is too "beneath the radar" to attract that much attention on the back of no news. You only see that type of activity with a share like this when something has been announced (which it has not!).

[hjfe] 05/2/2012 21:32

morefocus - any thoughts on why the sudden increase in volume last Thursday and Friday? There must be some reason PIs suddenly decided to buy in all at the same time.

[horace678] 05/2/2012 21:22

I'm not sure there are that many attentive PI's who would buy like we saw on Friday, but maybe I'm wrong.

[moreforus] 05/2/2012 21:09

Small trades are pi's ..THAL bought some shares back in several lots but announces via RNs in 48 hours.

[horace678] 05/2/2012 19:11

Also, I don't think it's likely that the share buy backs would consist of little trades of 2000 here, 1500 here. Impellam (=57% Ashcroft) recently did some share buy backs (declared in RNS's) but these consisted of a few hundred thousand shares at a time. I think the company spent a couple of million on these buybacks. The little trades we saw on Friday are, in my opinion, the work of a trader, perhaps at Royce, who is pushing the share price up to try to make some money. My hunch is that on Monday the share price will carry on going up to, say, 40p on the back of lots of little trades and then there will be lots of sells and share price will come down again. At any rate, we won't have to wait long to see.

[hjfe] 05/2/2012 18:53

Horace,

Thanks for this - your knowledge of the situation here is very useful in helping me put the pieces together. I'm looking to increase my stake - just want to get the timing right. I've done very well with RST - another Ashcroft company. I'll be interested to see what happens here in the run-up to the interim results on 20th Feb.

[horace678] 05/2/2012 18:41

The buy-backs took place when the directors of BCB bought back the shares of anyone who had fewer than 250 shares - this got rid of all the smaller holders who and reduced the number of shareholders from a few thousand to a few hundred, and was under the guise of reducing administrative costs, though Lorenz argues that the company made money out the situation. Re your second point, yes, at the time of the demerger the company noted that the shares were undervalued, and after the demerger, they are *still* undervalued, the share price having dropped. If BCB shares were equal to asset value, they would be worth about 80p (which they clearly are not).

[hjfe] 05/2/2012 17:02

From RNS of 19/10/12:

"The Directors believe that an informed current value of BCB Holdings is not fully reflected at present in its share price, as BCB Holdings' shares are currently valued at a discount of more than 80 per cent. to its tangible net assets based on its share price as at 13 October 2011 and the latest audited
financial statements as at 31 March 2011."

This was trading at 50p then............

[hjfe] 05/2/2012 16:49

From LSE thread:

Good write-up on undervalued-shres.com:



He talks about buy-backs taking place in the past, so perhaps they're at it again.

[horace678] 05/2/2012 13:43

Re the filing you posted, Royce & Associates is a fund manager in the US that has a long-term holding (5.29% according to the filing). I think they, if anyone, would be responsible for the ups and downs we've been seeing recently. I think the patterns of buys we've been seeing are the work of one institution (perhaps Royce), not individual PI's. If Ashcroft owns 74%, Royce owns 5% and his lieutenants own a few more %, that leaves maximum 20% for PI's.

[hjfe] 05/2/2012 11:19

Just seen this link on LSE thread:



Dated 31 January - current rise started on 1 February. Clearly this means something to someone - can't quite fathom it out myself, though.

[horace678] 04/2/2012 18:06

Yes, there can't be that many PI's who follow this regularly. My hunch is that there is a trader out there with a few hundred grand to play with who is trying to get the price up and sell shares. I must admit I profited last time, as I sold some at about 40p and then rebought back at 20-something, thereby increasing my holding. I think the same strategy could be used this time. I think this share is a long-term hold.

[hjfe] 04/2/2012 17:48

Horace,

I agree that last week's rise is almost certainly not down to PIs suddenly taking an interest on speculation - this is well under the radar. I suspect something leaked in December that was suddenly halted, but is back in play. The volume on Thursday and Friday was such that some people must know something - the buying was relentless. Also, no sign of the share price coming back down.

Time will tell, I suppose.

[horace678] 04/2/2012 14:54

This is a repetition of the scenario that we had in Mid-December. There were a load of buys in the morning and it went up to 45p and then a load of sells after lunch and it came down again. Sounds like "The Grand Old Duke of York"...Either it is (i) a stockbroker having fun and putting in a load of buys to get the price up (ii) Ashcroft and his team up to some funny business or (iii) a series of Private Investors thinking something is about to happen and buying in. I think (iii) is least likely. I don't think anything is going to happen on Monday in particular.

[hjfe] 04/2/2012 13:05

BT - I suspect the interim report has been circulated and there has been a leak - something must have got out to explain last week's volume. Intersting to see if the buying continues next week..........

[bogotatrader] 03/2/2012 16:19

Quaterly earnings announcment due on 20th February.....

[bogotatrader] 03/2/2012 16:19

Belize City, Belize, November 25, 2011 -- BCB Holdings Limited (London – AIM - BCB;
Trinidad and Tobago Stock Exchange - BCBTT; Bermuda - BBHL) (the "Company"),
was notified on 24th November 2011 that Peter Gaze, a Director of the Company,
acquired an additional 30,000 ordinary shares in the Company on 23rd November
2011 at an average price of 17.25 pence per share.
His total beneficial holding in the Company following this acquisition increased to
918,638 ordinary shares representing 0.9 per cent of the issued share capital of the
Company.