||EPS - Basic
||Market Cap (m)
Real-Time news about Goindustry (London Stock Exchange): 0 recent articles
|masurenguy: "Institutional investor meetings are taking place in London on Friday and Monday and a research report should be coming out in the next few days."
Hmmm.....no sign of any positive reaction to those intstitutional meetings and no sign of any research report either. Share price has continued to drift down a further 12% over the past 3 months !|
|dealy: I have got tonnes of this stuff - been adding in dribs and drabs over the last few months. Reckon the company is worth between £50m and £100m or between 500p and 1000p per share.
So much takeover activity as well in the TMT space. Surely this will get gobbled up? They raised money last year at 250p per share. Today's share price is an anomoly due to Lloyds dumping their whole position a few months ago (because they inherited small cap manager Insight via the HBOS takeover) and a total lack of awareness of the company.
Major opportunity here - if you can get any stock.|
|masurenguy: Despite the recent 100/1 share consolidation and subsequent director share buys in the 60p - 75p price range, the share price is still going nowhere. Be interesting to see what the pre & post exceptional profit/losses are when they report next month (23/9) !
|dealy: I read in the FT today that Lloyds have been selling all of their small caps due to a policy change. This comment was made in reference to Blnx whose shares rose yesterday after lloyds finally got out. They seem to have been responsible for the drop in the GOI share price from 2.5p in November to 0.7p now. They also seem to be more less gone now with their holdings having fallen from 8% to less than 1% in recent months.|
|dibbs: Hi Masurenguy,
I would not be at all surprised if your delisting thoughts were to be correct. They might then miss the access to fund raisings that they have thus far used to keep the good ship GOI afloat! Saying that their ability to raise funds with such a bombed out share price must be very limited already. Where to next for GOI....for sale at auction;-) Now... I know a once promising AIM listed company that does that kind of thing!!!
OT - see you still keep an eye on RCG. All good fun and games over there! Some people have such blind faith it amazes and worries me. You only need to look at recent happenings at Aero inventory to see how all is not always what it seems. Too many question marks there for me.
|masurenguy: Hi Dibbs - intriguing. Sudden volume out of the blue like that suggests that something significant is happening. Wonder whether some large holder is exiting prior to a delisting ! I thought that this might be on the cards some 9 months ago. Guess that we will soon see ?
Masurenguy - 6 May'09 - 07:18 - 240 of 266: Share price at an all time low - CEO replaced - Overdraft halved - £1,5m restructuring write downs - 'substantial' operating loss projected for the year ! Looks like they are on life support now - will they survive and if they do will they delist ? On my watchlist since selling out at 16.75p in Feb 07 - very glad that I was never tempted to reivest here|
|masurenguy: That is some option package !
It constitutes over 6% of the current number of shares in issue and is worth nearly £300,000 for each penny increase in the value of the current share price. If he can get the share price just back to the level of the last placing (10p in Jan 08), when £18m was raised to acquire Dovebid, then this option would be worth £2.2m !
RNS Number : 8032Z
29 September 2009
The Board of GoIndustry DoveBid announces that it granted yesterday an option over 29,232,881 ordinary shares with a nominal value of 1p each in the capital of the Company, exercisable at 2p per share ('the Option') to Jack Reinelt, the Company CEO, under the rules of the Company's Unapproved Share Option Plan and pursuant to an option agreement entered into today between the Company and Mr Reinelt ('the Option Agreement'). The Option is subject to the satisfaction of performance conditions set out in the Option Agreement. The final exercise date of the Option is ten years from the date of grant. Further details of Mr. Reinelt's option arrangements are set out in the Company's circular to shareholders dated 24 August 2009.|
|masurenguy: No takeover talks and a potential discounted placing on the cards !
RNS Number : 4346X
14 August 2009
Response to share price movement
GoIndustry-DoveBid plc, the AIM quoted global provider of asset management, auction and valuations services, notes the recent movement in its share price and confirms that it knows no reason for the price rise. Further to the Company's preliminary results announcement of 18 June 2009, the Board confirms that it has been reviewing the Company's funding needs and is exploring various possibilities to strengthen the balance sheet.
The Company confirms that it is currently exploring a number of options including a placing of new equity at a significant discount to the current market price (being the closing price on 13 August 2009). In addition, the Company is holding discussions with the holders of the 2011 convertible loan note regarding possible amendments to the agreement, including the possibility of allowing conversion of all or some of the loan notes into ordinary shares at a conversion rate which is at a significant discount to the current market price (being the closing price on 13 August 2009). A further announcement will be made in due course.
H1 2009 Trading Update
The extremely difficult trading conditions of Q4 2008 continued through the first two months of 2009 but improved over the four months from March to June.
The second quarter of 2009 was EBITDA positive (before exceptional items and share-based payment charges), although this will not be sufficient to offset the losses suffered in the first quarter and therefore the Company will be reporting a loss for the 6-month period ended 30 June 2009. EBITDA (before exceptional items and share-based payment charges) in the first half of 2009 is expected to be a loss of approximately £0.7 million on Direct Profit(1) of approximately £12.8 million. With the improved performance since March the annualised run rate of Direct Profit(1) is in excess of £25 million.
In light of market conditions, the Company took further action to reduce headcount and operating expenses, cutting approximately £6 million of annualised costs during the first quarter of 2009. As a result, the Company is currently expecting to book a restructuring charge in the first half of 2009 of approximately £1.0 million. GoIndustry-Dovebid's restructuring has reset the fixed cost base in order that the Company should have a better alignment between its cost base and current levels of income. In addition, the Company has taken steps to improve the profitability of auction sales. These changes were effected to ensure that the Group should be EBITDA positive (before exceptional items and share-based payment charges) on recent levels of Direct Profit.|
|masurenguy: Share price at an all time low - CEO replaced - Overdraft halved - £1,5m restructuring write downs - 'substantial' operating loss projected for the year ! Looks like they are on life support now - will they survive and if they do will they delist ?
On my watchlist since selling out at 16.75p in Feb 07 - very glad that I was never tempted to reivest here !
RNS Number : 7319R
06 May 2009
GoIndustry-DoveBid plc, the global provider of asset advisory, disposition and
valuations services, today releases the following trading update and update on
its banking facilities:-
2008 was a very challenging year for the Company. The acquisition of DoveBid,
Inc was completed on 25 February 2008 and was followed by a significant period
of successful integration activity. This acquisition adversely impacted first
quarter revenues, but revenues in the second and third quarters, while not at
the anticipated levels, held up well, with relatively stable levels of demand
and healthy market pricing. However, the turmoil in the global financial markets had a major impact on fourth quarter trading. Asset prices declined
significantly and demand for surplus equipment weakened. As a result, revenues in the fourth quarter and the year overall were materially lower than expected. The Company achieved Direct Profit for 2008 of approximately GBP24 million, leading to a substantial operating loss for the year. In the light of market conditions, the Company took action to reduce its headcount and operating expenses, cutting over GBP6 million of annualised cost during the first quarter of 2009. As a result, the Company will be booking a restructuring charge in the first half of 2009 of c. GBP1.5 million. In addition, the Company has taken steps to improve the profitability of auction
sales. Revenue levels in January and February 2009 remained depressed, but trading has improved since the beginning of March. The Board believes this upturn, when combined with the lower cost structure, should result in an improvement in the Company's performance over the final three quarters of the current financial year ending 31 December 2009.
The Company's bankers continue to remain supportive and the Company has just
completed the re-negotiation of its main banking facilities. The GBP2 million
overdraft facility with Barclays Bank has been replaced with a GBP1 million
facility that will be repaid before the end of 2009. The $10 million facilities with PNC Bank in the United States have been renewed. All facilities have been negotiated on normal commercial banking terms.
Separately the Company also announces today the appointment of a new CEO, Jack
Reinelt, with immediate effect.
The Board expects to announce its preliminary results for the financial year
ending 31 December 2008 on 18 June 2009.|
|masurenguy: Buy recommendation following yesterdays announcement of a placing at 10p to raise £18.5m to finance the DoveBid acquisition !
Our view: Buy
Share price: 11p (-0.75p)
GoIndustry runs online auctions of unwanted factory machinery which is usually bought by companies setting up in low-cost manufacturing bases abroad. If it sounds like a cottage industry, think again. The market, which deals in machine tools, plastics, food processing and electronics equipment, is worth billions of pounds, and is growing fast as more manufacturing migrates from the West to the East.
GoIndustry's share of this market barely registers at just 0.5 per cent, but that is set to nearly double following the ambitious acquisition of its main rival, US based DoveBid. As a measure of the importance to GoIndustry, it is financing the deal by placing £18m of shares at a 10 per cent discount to an already depressed price. GoIndustry calls the acquisition transformational, and it certainly looks that way.
GoIndustry was set up in 1999 by three entrepreneurs who recognised the potential of holding online auctions of plant and machinery to reach a near-global audience. It still holds live "under the hammer" auctions in some of the 15 countries in which it operates, but these are diminishing in importance. Heavy losses over the past few years resulted from a string of "land grab" takeovers aimed at quickly securing market share. DoveBid opens up the US to GoIndustry. The US firm has close ties with multinationals who use it to handle sales of plant after rationalisation programmes.
Costs of around £9m should be stripped out of the enlarged group over the next two years. Even without DoveBid, the UK firm was on course to generate profits of around £2.7m for 2008, selling on just over 12 times earnings. It is a unique listed company operating in a dynamic marketplace. Buy.|
Goindustry share price data is direct from the London Stock Exchange