||ORD NPV (DI)
||EPS - Basic
||Market Cap (m)
|Electronic & Electrical Equipment
Real-Time news about Bluestar (London Stock Exchange): 0 recent articles
|zangdook: Interesting - they wanted to buy back 23.52% but only 6.5% accepted. So the majority shareholders or concert party or whatever they are will be left with under 82% of the company - not enough to do a compulsory purchase.
This is quite a pleasing development as it makes clear to any other companies thinking of delisting and buying back their stock that you have to offer at least a modest premium to the share price if you want to be taken seriously. If they'd offered 4.5p they'd probably have got enough to force the rest.
(Assuming the 90% rule still applies.)|
|masurenguy: Masurenguy - 11 Apr'11 - 989: Given the receivables issue, the share price has been stuck in a 20p - 25p range over the past 15 months so I took profits and sold my residual holding @21p last week. Todays announcement only adds to my other suspicion that they could delist in due course with unpredictable exit values for shareholders at that time.
My commiserations to all current shareholders. This was one of the two major reasons why I sold out 30 months ago after the CEO increased his holding to 44%. It took much longer to reach this point than I
had envisaged but sadly it ultimately still came to pass.|
|zangdook: I'm surprised to see a tender at well below the share price at the time of announcement. I've seen plenty of these Chinese takeaways before but even when buying well below NAV they always gave a little something to sweeten it. A tender at around 60% of current share price is disgraceful. There ought to be a law.
edit: I have no interest here (used to long ago) but it's been on my watchlist.|
|bill182: Feedback from the AGM is positive in my view. The trade receivables are improving, in that they are approximately £2m less than they were. Of equal importance, is the improvement of the payment terms from their main customers. This has been mentioned as 'work in progress' in the previous annual report and will have a positive impact on the cash flow going forward.
With a current market cap. of only £1.82m, the current share price represents a significant discount to the net assets.|
|bill182: Two good buys yesterday for 6.5 million shares. Would expect to see a disclosure next week as the figure represents nearly 10% of the shares in issue. Could well be the catalyst for a recovery in the share price.|
|bill182: Well...the results were published as stated but failed to live up to expectation, in that the debtors figure did not improve as expected. On a positive note, the company is making profit and in the first quarter of the current year received payment of circa £3.45m which was a significant improvement over the previous year.
With net assets of circa £29m versus a market cap today of £1.73m, there is scope for a significant improvement in the share price. Whilst it is still a high risk share, the fact that the directors have purchased shares at much higher prices gives me a degree of confidence that the business will improve in the short to medium term.
I have added further today as I think the bottom has been reached and the share price should start to improve as further contract wins are announced.|
|bill182: If this comes to pass, the share price will look undervalued:
"Trade receivables increased to RMB 275 million at the period end (2011: RMB 234 million). Debtor days increased during the period to 608 days (2011: 539 days). With the fourth quarter of the calendar year traditionally a period of significant cash collection for companies in China, the Company is expecting that approximately 50% of the outstanding debtors will be received by the end of March 2013."|
|bill182: The price continues to drop, but on very few trades. I am surprised the company has not issued a business update to steady the share price!
Now buying at 2.95p. According to the company, they had circa £5.1m cash at the year end and net assets of £28m. With a mkt cap now of £2.09m, assuming there is nothing more sinister than has been reported, I see this as a decent recovery share.
It will be interesting to see what the results bring in a few weeks time.|
|bill182: Haven't posted here in a while, but have been reviewing the latest information in light of the recent drop in the share price.
The issues still remain over the size of the debtors and the time taken to collect, although part of this is explained by the accounting treatment of posting revenues before the total completion of a given contract. It will be interesting to see if the company has any luck in convincing the banks to pay more quickly, as alluded too in the results.
I think it will be a while before confidence returns here, but I also believe the drop has been overdone based on fundamentals. Looking back at the recent trades history, there has not been a wholesale sell-off, and I would expect to see a recovery in the share price as more contract wins are announced.
I have bought back in today, but only a modest amount, and will review the situation on the next announcement.|
|the diviner: Hi,
This company came up on a recent value trawl of the numbers because it appears, (on the surface), to be undervalued but I cannot seem to find out much about the company.
For instance; I cannot find a company website. - Is there a company website?
There is web video from iii in 2008: http://www.metacafe.com/watch/1616983/bluestar_secutech_plc_bsst/
That 2008 video appears to indicate that the company was really well a few years ago. What happened? (Was it just smoke and mirrors)?
I had considered buying a few BSST shares but so far I have decided against because there is a gut feeling that there could be something rather whiffy about Bluestar Secutech. (I have no idea if there is and would welcome some input from those who have already invested their own money into BSST as to the reasons why a person should buy or hold these shares).
In some ways BSST seems to be similar to GNG in that the story looks OK and the published figures look OK but the share price just bombs over time because it is all jam tomorrow and what is happening around the company does not support the theory that the promised jam will ever arrive. Is that fair?
I like the fact that BSST is paying a dividend but what is it being paid out of?
I am not too sure what the BSST business model is; they appear to just install video surveillance systems but they do not seem to make the stuff that they sell and once sold and installed they do not have an ongoing contract with the customer with regard to operating and/or maintaining the equipment. Is that correct?
Last but not least is the getting paid question. Are the payments just severely delayed or are they unlikely to ever arrive?
Bluestar Secutech share price data is direct from the London Stock Exchange