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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Game Group | GMG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.39 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.39 | 2.39 |
| Top Posts |
|---|
Posted at 04/9/2012 13:16 by justthemoney I've filed my self assessment on-line this week, scanned all contract notes related to GMG purchases and claimed the lot as the CGT loss. Added a note explaining that the shares were cancelled at 0p. Left the rest to the taxman, they know the case well. |
Posted at 11/7/2012 06:39 by justthemoney After more than a decade of investing (mostly successful) in UK stock market, I've pulled out completely. If the thieves could do it (and get away with it) to GMG, they can do it to any other stock. If you want steady investment, brick and mortar is the way to go, if you want trading, it has to be FOREX. Don't think we'll get anything back from administrators. The way they treated shareholders (supposedly the owners of the company) is appalling.I've just bought 2 nearly new cars, the money that usually went into stocks. Much better feeling. Next month going to talk to HMRC about the tax return and the status of GMG shares. All the best for the future. |
Posted at 28/3/2012 17:53 by bobsidian "They also said they had cash of 120 million which as we know they LIED as they could of paid off a lot of their debt and would not have gone into admin."GMG would indeed have had cash on hand at that time but, as others have already pointed out, that cash would have been used to pay their suppliers in accordance with the normal terms of trade. A vast majority, if not all retailers, have cash on hand after the Christmas trading period but such a position is only temporary in the context of the ebb and flow of cash around a business. One of the key factors impacting the cash flow of GMG was the subsequent reduction in overdraft facilities made available by their financiers. That would doubtless have constrained their ability to finance day-to-day operations at a time when cash generated from sales would have been at their lowest. Nevertheless you cannot help but be left with the impression that GMG has been "stolen" from the shareholders by its financiers. But the management of GMG seem to have been too slow to react. When key members of the old management departed the new management should have involved themselves in a capital raising exercise at that time to finance the early closure of stores to rationalise the business. Had they done so GMG may have been more in control of their own destiny. It will be interesting to see just how GMG is carved up whilst in administration and see who ultimately are the beneficiaries of that process. |
Posted at 21/3/2012 08:21 by phil1969 The investors to feel sorry for are the ones left holding from much higher levels.New investors have had the opportunity to get out over the last 2 months with minimal losses compared with the losses long term investors were locked into. There has been enough coverage on GMG's plight to know the risks and trading GMG on this news made it very easy to make a short term profit. I sold 80% of my holding on Friday as too risky to hold over the weekend and didn't buy back in on Monday, the profit made trading GMG put cash in account and the 20% held were free. I'm sure most of the stock traded over the last 2 months has been along the same lines. Fingers crossed the new plan of action and streamlining will keep Game on the high street even if it is on a smaller scale. My heart felt wishes go out to all Game employees and there's still hope regardless of GMG's stock market position. |
Posted at 18/3/2012 15:26 by graham2405 Bingowing'Blue Shores has three investment styles that all use the same valuation approach, but focus on different company characteristics. The growth style focuses on companies with high levels of profitability and earning growth potential, whereas the value style focuses on companies with low relative valuations and improving fundamentals. The international approach focuses on leading companies with large amounts of cash flow and high dividend yields. The Global and U.S. Core strategies combine these different approaches into one coherent portfolio. Global macroeconomic themes are continuously taken into account to adjust portfolio positioning and market exposure. Often times, Blue Shores hedges a portion of clients' long-term equity holdings with synthetic short positions to help protect the portfolio from downside loss. Hedging typically occurs when cyclical market risk is viewed as high by the portfolio management team.' Assume you got the above from this website. Please note that this is not the company that has invested in GMG, the company is Blue Shore Capital LLP (a small hedge fund), they are not based in Florida, they are based in what appears to be a virtual office suite in New Jersey. This details the address: A search of the address (they are in suite 300) reveals: A virtual office suite company. An SEC filing confirms the name Harsha Gowda, the address, Suite 300, and the partnership name Blue Shore Capital LLP -------- So, no website, what appears to be a virtual address, and a name very similiar to another investment company. An easy mistake to find the wrong company and be mislead. 'be careful out there' ....and DYOR |
Posted at 12/3/2012 18:40 by bobsidian Sad to see the "demise" of GMG. But now that the clock is ticking before it enters administration, it just seems like desperation for the management to be seeking a buyer at such a late stage whilst having a firesale of remaining stock in the vain hope of meeting the next quarterly rental payments.As pointed out by other posters, why would any interested party wish to buy the entire portfolio of stores when such parties could cherry pick the best locations from the administrators and have a slimmed down portfolio of outlets better suited to the current economic climate ? When GMG rung the changes in management they had a window of opportunity to accelerate the closure of stores which may have been cannibalising their own sales. But it seemed GMG wanted time to close the stores at their own pace as leases reached their break points or expired. It would have been costly but they could have used their stockmarket listing to raise the necessary finance to cover the outlays. Perhaps that financial avenue had been closed to GMG because of the absence of willing underwriters and institutional support. I am sorry to read about significant losses being taken by certain posters but GMG at the most recent share price level was really a "shot to nothing". The Balance Sheet of GMG was nowhere near as bad as other more vulnerable retailers. That GMG has succumbed suggests a whole raft of other retailers may be about to follow suit, particularly if RBS is their bank or is the lead in any consortium of financiers. |
Posted at 12/3/2012 07:30 by j drama As I posted last week the supplier issues are being forced on GMG by RBS in order to keep their lending facility. Without the lending facility GMG can't trade & the suppliers don't appear to be willing to change their terms.It appears the suppliers feel they can do without GMG... No one should be surprised by the RNS today, GMG should be suspended before the opening until they can either sort things out or wind up the company. |
Posted at 11/3/2012 22:59 by justthemoney This was all preplanned. The company was purposely run down during the last 18 months as it is now very close to the next hardware cycle and someone wants it cheap. GMG will survive and do well, shareholders will get wiped out. Mr Shepard and the rest of the gang could have in the past 18 months gradually cut cost and negotiate better terms with bankers, suppliers, landlords... to stay in profit. It is hard to believe that a profitable company with £1.5b in sales, suddenly has only days before it runs out of cash. This year's loss is tiny £18m....and so on... It all point out to deliberate actions to rob the shareholders. I hope that big shareholders take legal action against the board and somehow stop this demise. My only mistake was that I've invested 30% of my stock market capital in GMG. Which means the rest of the portfolio has to work hard for another 2 years to get this money back. Hopefully no more wipe-outs as one in a lifetime is enough. After this episode I'll never look at stock market investing in the same way. Simply there are two many unknowns to put more than 5%-10% in any one company. I was quite happy to hold for several years for dividend income and not trade them until they reached their full potential. As it turns out I won't have that pleasure with GMG. Guys I'm not selling it as I'm not a trader and could not possibly accept a scenario of selling at the bottom. 0p is OK, as it is a 'Black Swan' event, the event that occurs seldom. All my picks are cash-flow positive, dividend paying stocks with above average growth potential. So was the GMG on the paper, the rest is history...... |
Posted at 11/3/2012 07:26 by stud-muffin hatetrader2 - 11 Mar'12 - 01:38 - 1650 of 1651 Personally I am staggered at the speed of GMG decline. Barely five weeks ago as Reallyrich has just pointed out GMG said they had £120 cash and losses were set to be half the consensus at the time of £30m. New launches of games and platforms plus a strategic withdrawal from multi sites within one town all and last but not least support from the banks all gave the impression this share was huge value at the then 6/7p. All the above seems to have gone up in smoke in a month to the point GMG are seriously looking at a prepack or administration with shareholder wipeout. Did I forget they shelled out nearly 6p on dividend only last Autumn? Many on here can be forgiven for beleiving in Game Plc and are now furious with them but might I suggest not at posters on here. |
Posted at 10/3/2012 10:01 by flyinglemming2 This is based off the 2011 report, this years costs should actually be less than last year and so wages and rent costs should be marginally less than stated below.2011 Wages - 155m 2011 Rent - 87m Rns states end of year cash balance to 31 jan expected to be similar to last year so that should around 120m If quartly rent is to be paid this month then cost is 21.75m Monthly wages is 13m [Edit] Figures above off 2011 end of year report, assuming as annual costs but I may be wrong [Edit] Doest look too bad when just only using those figures above BUT Last years trade payable was around 201m at 31 jan 2011 which is normally settled 30 days after the end of month of receipt, this means that Game Group needs to churn a substantial revenue every month to pay off the trade who may be mostly comprised of publishers expected to be paid for their titles. 31 Jan 2012 trade payable figures may be around a similar region to last year - a figure that's likely higher than end year cash balance which they were required to be paid 30 days later. The figures above are based off 2011 and a dividend was even signed off. If no dividend was paid and better cash flow was maintained then gmg might still have announced a small profit which means credit insurers might have continued doing business and gmg might have survived to the next console cycle. Credit insurance is critical and was the start of the fundamental collapse of the business, Game needed increased head room from the banks until disposals are made not reduced banking facilities on the short term. On the long term, directors should have been aware of the trade payable vulnerability and acted in a similar way as gamestop to preserve cash and not rely on credit to fund the business. |
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