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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hardy Amies | HRD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.25 | 1.25 |
| Top Posts |
|---|
Posted at 20/11/2008 17:58 by pictureframe Dont expect anything !Hardy Amies sold to Hong Kong Tuesday, 11 November 2008 Hardy Amies has been sold to the European investment arm of Hong Kong-based international fashion supplier Li & Fung. The company, known as dressmaker to the Queen, fell into administration last month after a refinancing fell through from Icelandic investor Arev. The retailer's Saville Row, Edinburgh, Bristol and Belfast stores are currently still trading. The deal was agreed at the end of last week for an undisclosed sum. |
Posted at 19/10/2008 14:55 by damloy Did indeed timbo003 and I guess that is the only saving grace. I'm not a professional investor so don't quite understand how I would avail of the tax reliefs.Sorry to say I was also persuaded by some poxy 'venture-capital' outfit to stick over £5K into Petards which I think is about to go down the toilet. I think it also might be EIS qualifying so maybe I can recover something via the taxman. Any idea how I go about that? Thanks. PS....yes I know a plonker like myself should have kept my money in the bank.....WHOOPS!.... |
Posted at 16/10/2008 09:21 by damloy I was persuaded by a venture-capital outfit to invest £6K in this waste of space. I am not a professional investor.....Yes I know I should have kept my mons in the bank!!!!.....But what does all this mean.....Is the whole lot gone?....What do I do Now?....Any advice would be welcome. |
Posted at 05/10/2008 01:18 by boscolane This Wednesday is the deadline (8th Oct). If no new investor is found by then..the games finally up and the administrator is called in. What a humiliating end to a venture with such promise. |
Posted at 26/9/2008 10:07 by seizetheday PICTUREFRAMEso sorry, i have always gambled with these bloody aim stocks and ALWAYS lost very very badly. every serious investor keeps on saying DO NOT INVEST IN PENNY SHARES. BUT I ALWAYS DO. I HOPE U WILL HAVE THE DETERMINATION TO STOP PUTTING UR MONEY IN THE PENNY STOCK. I AM NOT SURE I HAVE THE INTELLIGENCE TO DO IT. BUT WE ALL SHOULD |
Posted at 07/2/2008 09:26 by clocktower In this situation, it is hardly doing the dirty as they have clearly and honestly set out the situation the company is in imo.The way they deal with it will I suspect will cause serious dilution unless one is in a position or willing to invest further sums in the hope that all will be well in the end. If for example funds are raised at say 0.25p it will I expect take investor that are already holding a very long time to see any sign of reward to current levels. How much is a name worth? |
Posted at 12/12/2007 09:30 by boscolane My view is that there will be a rights issue but it should be seen as a good thing. This is not some cowboy, fly by night management team that will fleece the small shareholders. They will make sure the business is attractive to institutional investors and have the whole process underwriten by them. Maybe a share consolidation of say 5:1 will follow setting a platform for well financed and huge future growth. Small investors may be given the chance to take up the rights issue and I certainly will if its offered.Look at the progress in the last year and think what could happen in the next 12 months. All IMHO of course. |
Posted at 08/11/2007 17:50 by chancer6 www.proactiveinvestoThe market was decidedly worried about the outcome, but breathed a massive sigh of relief after Chairman, Andrew Manders, said it had secured a three year agreement Well, Hardy Amies certainly put out the right type of press release last week. Shares in the high-end apparel group spiked by almost 125% after announcing that it had completed negotiations to licence its brand in Japan. The market was decidedly worried about the outcome, but breathed a massive sigh of relief after Chairman, Andrew Manders, said it had secured a three year agreement which would provide a minimum sales income of £850,000 per annum; an increase of 88% on the previous licence agreement. Hardy Amies also said it had agreed a joint venture with the Aussino Group to develop retail outlets in China, which will require a capital commitment of £0.5 million from each party - the first store is expected to open in 2008. Last, but certainly not least, the company said that it opened its second UK store on 18th October, in Edinburgh. Compared with press releases of the previous few months, this update was nothing short of miraculous. In one fell swoop the company had secured revenues from Japan for a further three years, officially announced the launch of its second shop in the UK, and signed a deal to spearhead its expansion into China. The Hardy Amies label is still best known in the UK for individually tailored suits for men (starting at £700) and a small range of women's formal wear that are hand made and finished to exact specifications. Overseas, however, the company has managed to sign licence agreements that have allowed it to sell shirts, ties and off the peg suits in high end department stores and boutiques. The Hardy Amies brand was created in 1946 by Edwin Hardy Amies who opened a shop at 14 Saville Row in London. It was not long before he was designing clothes for the then Princess Elizabeth. "A very grand lady asked me to make coats and skirts for what she called her 'gels' and they turned out to be ladies-in-waiting to Princess Elizabeth" he recalled. The Princess saw them and asked him to make clothes for her visit to Canada in 1948 and the royal warrant was awarded in 1955. Amies was best known for his work for Queen Elizabeth. Although the couture side of the Hardy Amies business was its less successful area financially, the royal warrant gave his house a degree of respectability. One of his best known creations was for Queen Elizabeth's Silver Jubilee portrait which, he said, was "immortalized on a thousand biscuit tins." While Amies' royal patronage validated his international image, his menswear and related fashion efforts were his most successful enterprises, financially, with leather goods, ties, knitwear, and shirts, produced and sold under licensing agreements in various countries including America, Australia, Canada, Japan and New Zealand, making the Hardy Amies label a household name. Amies' work also included designing for the service industries, such as hotels and airlines. Sir Edwin Hardy Amies retired in 2002, and was succeeded at Hardy Amies by Ian Garlant as design director. So, Hardy Amies is a premium brand with an international reputation, and the company is attempting to develop the brand and widen its market presence with its foray into China. It is somewhat surprising that the only wares the company only sells on its website are its own label fragrances and men's shirts! Perhaps clothes best advertise a high-end label when a skilled attendant has been available to proffer advice on purchases ...or perhaps the company has simply has its mind on other things than web commerce. The Hardy Amies brand took a new direction in 2005 when it jumped into the deep end and listed on AIM, moving up from OFEX where it had been listed since 1998. In the years leading up to the AIM listing, revenues had been pretty flat with turnover in 2001 of £0.95 million, only marginally raised to £1.05 million in 2003, but losses were cut substantially, from approximately £2 million in 2002 to under £0.6 million in 2003, as the company went under the knife and worked on increasing its range of ready to wear clothing. The company raised £2.04 million before expenses, at 6 pence per share, to essentially start Phase II the recovery. This included more ready to wear clothing, launching a perfume brand, and expanding into home wares, accessories and leather goods to compliment its range and build up brand awareness. Hardy Amies plc also owns the Norman Hartnell Brand, and wanted to re-establish it in the United States and Far East, where it is still well recognised. On listing on AIM, Japan accounted for 61% of the group's brand licensing sales, so the plan was to replicate the brand's success in other territories, particularly China. Fast forward to 2007 and, unfortunately; the company doesn't appear to have made as much progress as one would hope. Interim Results for the period ending 30th July 2007, showed turnover up by 8.9% to £728,531 and losses before tax of £372,252. As a result of making losses, stricter cost controls were introduced which, in June, resulted in an arrest warrant being issued for a former financial controller, with regard to exceptional items totalling £167,656 in 2005 and £185,021 in 2006. So, on the bright side, this is good evidence that the pennies are now being counted carefully at Hardy Amies! Besides the considerable stability in the revenues generated by Hardy Amies' oversees licences, the company saw a 60% increase in turnover inside the UK thanks to a new menswear range. The new range coincides with the opening of the Edinburgh store, and a third shop is expected to open in Chester shortly. The group is looking for three or four additional locations in the UK for 2008. There is also a ready to wear women's range "close to seeing the light of day". So there is still hope that this PLC can build its market share in the UK, whilst leveraging its brand overseas with third parties. Though the road has been long and tough, it may result in a stronger entity from a financial perspective. Hardy Amies' largest shareholder, Arev Brands Limited, has supplied a £2.85 million loan facility which has allowed it to continue its expansion plans despite trading at a loss and the irregularities found through cost control measures. In the full year results, AC Manders, Chairman and CEO, admitted that additional funds will be required in 2008, which is bound to play on investors' minds. But investors will be hoping that the company can build on the goodwill generated from Japan to avoid any heavily discounted fundraising in the near future. |
Posted at 07/11/2007 09:38 by seizetheday I did a bit of research and now I understand better what's happening and the remarkable potential of HRD considering who is backing them.For some these are old news but a reminder won't hurt. Arev is the key word. They own 49% of the company. They are an incredibly successful investment company who own top brands in the designer clothing industry (just read the article below). John Heath (non exec for HRD) is the key figure here apparently. By the way, only less than 50% of the issued shares are available to the private investor and this is why the price can move so rapidly on limited volume. Arev has really impressed me and their strong link with HRD seems a great indicator of the potential of our company. Also, the directors seem also quite committed with their money, also a very good sign. FROM HRD WEBSITE - INVESTOR RELATIONS Shareholder Information Hardy Amies plc securities are traded on the AIM Market, LSE. The total number of AIM Securities in issue is 207,991,085. The percentage of AIM Securities currently not in public hands (as defined in the AIM Rules for Companies) is 51.11%. Significant Shareholders The following shareholders are directors of the company and any other shareholder of 3% or more of any class of security (except treasury shares) Arev, 49.31% shareholding Pershing Keen Nominees Limited GWCLT Acct, 4.30% shareholding Pershing Keen Nominees Limited Perney Acct, 3.79% shareholding Peter John Philips, 0.84% shareholding John Heath, 0.48% shareholding Nigel Brunning, 0.48% shareholding Non-Executive Director Name: JOHN HEATH Age: 49 Date Appointed: 25 June 2007 John Heath, aged 49, joins the board as non-executive director to provide retail support and expertise. He is currently Chief Executive of the Scottish based Cruise fashion chain. Formerly he was Managing Director of the fashion retailer USC and prior to this was the National Sales Manager at Next. John Heath has interest in the following companies/partnershi CURRENT DIRECTORSHIPS Mantic Retail Limited, Cruise (Holdings) Limited, Cruise (Glasgow) Limited, Lanepost Limited, Jim Cruise Limited, Ingram Retail Limited. AREV, the investment firm set up by Jón Scheving Thorsteinsson, the former Baugur UK chief executive, has bought Cruise, a Glasgow-based designer fashion chain for an estimated £7 million. All the proceeds of the deal, which is being led by JOHN HEATH, the former chief executive of USC, the fashion chain, with debt provided by Bank of Scotland, will go to owner Jim Gibson who founded Cruise 20 years ago. The chain, which sells brands including Prada, Hugo Boss, Chloe, Jimmy Choo and Gucci, has nine stores. It achieved operating profit of £800,000 in the year ended February 28, 2006 on sales of £17 million. Mr Heath intends to open ten more stores over the next few years, expanding the chain outside its northern heartland. Mr Gibson will remain with the business in the short term on a consultancy basis. Arev has bought Cruise through Kcaj, a £60 million private equity investment business set up this year. Kcaj already owns 50 per cent of HARDY AMIES, the AIM-listed designer brand, as well as stakes in Duchamp, the luxury men's accessories brand, and Linen & Things, a US retailer. Arev also owns 50 per cent of Jones Bootmaker, the footwear chain. The investment firm shot to prominence when it joined with Kevin Stanford, the retail entrepreneur, to buy a 70 per cent stake in Ghost, the designer label set up by Tanya Sarne. |
Posted at 29/9/2007 08:54 by ladybird1 An interesting article in today's Times. Different animals - or at any rate bigger animals at a more advanced state of development - but it demonstrates the potential that Arev see in the business and the interest of other players in the area. I am pleasantly surprised & encouraged.'The TimesSeptember 29, 2007 Buyout firms stalk catwalk as brands struggle with their figuresSarah Butler The fashion set moves to Paris next week for the climax to a month of cat-walk shows around the world - and this year bankers will be hot on their heels. The world of private equity has become increasingly interested in luxury brands. Last month Permira, the British firm, took control of 97 per cent of Valentino Fashion Group, the Italian label, for 2.6 billion (£1.8 billion) in one of the largest designer buyouts. Permira recently secured nearly 90 per cent of Hugo Boss, making its move soon after Apax's $1.6 billion (£783 million) buyout of Tommy Hilfiger, the American brand, and a whole wardrobe of smaller designer buys, including Sciens Capital's buyout of Asprey, the jeweller, and Lion Capital's purchase of Jimmy Choo. A burgeoning market and the potential to drive huge profits by introducing business disciplines mean that designer labels are in the spotlight for investors. Future targets are thought to include Burberry Group and the Italian label Roberto Cavalli. Related Links Business big shot: Stephan Lobmeyr The Jil Sander show in Milan last week typified the new era. As Anna Wintour, Editor of American Vogue, stalked through the imaginatively attired fashionistas outside the luxury German label's showrooms, a phalanx of blue and grey-suited men tried to blend in. Among them was Stephan Lobmeyr, managing director of Change Capital, which bought Jil Sander 18 months ago. Mr Lobmeyr said that he was interested in buying further luxury brands. Jil Sander was particularly attractive because the label's luxury status had not been sullied by down-market licensing deals.The brand was also loss-making, meaning that there were plenty of opportunities to add the benefits of private equity-style operational improvements. To this end, Change is raising a second fund, having spent all but 30 million of the first 300 million fund that was raised from the Halley family, the largest shareholder in Carrefour. This time, however, Change is looking to a variety of sources, using the performance of the first fund to attract new investors. Before being snapped up by Change Capital, Jil Sander was part of the Prada stable of brands. It had suffered from the departure of its namesake designer and an expensive expansion strategy based on large flagship stores. Mr Lobmeyr said that one of the attractions of brands such as Jil Sander to private equity firms is many fashion founders have been unable to couple design and economic success. He said: "If you look at the history of fashion, many brands have been set up by a creative founder and there are a very slim sliver of those who were also good businessmen that could grow the business from £50 million to £1 billion of turnover." Martin Clarke, at Permira, said: "Many of these labels were run as personal fiefdoms focused on haute couture. Along the way they created fabulous brands with huge value. The challenge and opportunity for private equity is to preserve the heritage of these brands while broadening their appeal and customer base." Since taking over Jil Sander, Change has put in new IT systems, rejigged the store portfolio and reduced central costs. The brand is expected to break even next year. Mr Lobmeyr said: "We are not design experts and we shouldn't try to change the creative bit, but we can work on the company and its basic retail mechanisms, which still apply to fashion brands." When run well, luxury brands can be incredibly profitable, with profit margins on accessories as high as 77 per cent in some cases. Jil Sander's five-year plan is to expand sales by up to 43 per cent to between 180 million and 200 million in the next three or four years. New stores are also planned, including one in London.' |
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