Hardy Amies Share Discussion Threads

[ladybird1] 07/2/2008 13:36

Checked in 'Chambers'. You're quite right. Honours even, I think.

[seizetheday] 07/2/2008 13:33

superSeded maybe
(no point boasting Horace!)

;-)

PS UKTV Gold ,lol

[ladybird1] 07/2/2008 12:20

Sadly, these days, largely gathering dust, superceded by light detective novels & UKTV Gold.

Glad to see you're a bull. Hope you're right.

[seizetheday] 07/2/2008 11:49

how's Horace?

[clocktower] 07/2/2008 09:26

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?

[seizetheday] 07/2/2008 07:13

agree entirely

[boscolane] 07/2/2008 00:57

Just seen this on the one page AREV website:-

ArevArev is an investment business, focused primarily on the retail sector.

Arev invests directly and through Kcaj, a private equity fund.

These investments include: Aspinal of London, Blooming Marvellous, Cruise, Duchamp, Hardy Amies, GHOST, Jones Bootmaker, Limeys, Linens 'n Things, Mountain Warehouse and Unisport.

For more information contact: [e-mail]

Registered office:

43-44 New Bond Street
London
W1S 2SA

I simply dont think they could afford to 'do the dirty' on small shareholders in HRD.

[boscolane] 06/2/2008 23:53

Ive just logged in after 2 weeks away to read the utter doom and gloom here.
The price has fallen because the market is generally down and retail as a whole is perceived to be struggling at the moment.

BUT what did we learn from the statement.

a/ overall revenue UP 35%

b/ Saville row trading UP 60 per cent.

That is extremely encouraging news.
Brunning was at pains to tell us that the company would not make profits this year but thats because of the cost of expansion.
Dont forget that Brunning and especially phillips are significant shareholders in the company. It is not in their interests for there to be a dilution and their (AREV)'s reputations in the city would be baddly harmed if they shafted small shareholders.
Borrowing money from banks is tough at the moment but if they pulled a debt for equity swap or some other dilution stunt their status in the city would plummet.
I hold and may add in the run upto the full years figures which will reveal much more.
Ultimately if I am wrong we lose the lot but AREVs reputation will be coming with us !
It is very easy to become depressed when the share price falls this low but there are positives out there.

[clocktower] 05/2/2008 16:24

Still further to fall I expect - it is sad to hear of damloy`s losses but it it wise to hold and watch it sink and sink or better to get whatever you can and maybe buy back in IF new funds are raised?

imo this will go sub 0.5p very soon following further poor retail news in general.

[ladybird1] 29/1/2008 17:39

All

Nice to come in & find a bit of a rally. Nohope sums it up nicely. 60/40 is not bad odds.

Bungler - I think your scenarios are my answer. If they are going the right way by the time funding needed, no problem, if not, 'stuffed', as you elegantly put it.

Best of luck to all.

[marshalltronics] 29/1/2008 13:59

Bad luck damloy.

Never give up.

M.

[nohope2] 29/1/2008 13:01

High Risk/High Reward.
I continue to Hold.
Nothing different between HRD and just about every other stock I hold.
Everything is down.

60/40 chance of HRD coming good.

Regards to all,

[bungler] 29/1/2008 12:22

damloy you have my sympathies - but no point in bailing now I'd have thought. ladybird - thanks and I agree high risk and potentially (still) very high reward. If we can stand back for a moment here and look at it objectively: what exactly has changed since the excitement of October? We have had no update on progress at the stores - not exactly a disaster and perhaps can be explained because they want to make a splash in the finals after which, if news is good and share price rises, they could raise more money if they need it. We have been told no profit until "after 2008" - which , as clocktower has said could mean 2020 for all we know - not good but again not surprising. They have always said expansion is the name of the game at the moment.

So far as raising more money goes they said this last June 19th; "Hardy Amies announces that it has secured a loan of #2,853,000 from Arev Brands Limited ("ABL"), a substantial shareholder. The loan will be used to fund working capital, as well as to provide funds for Hardy Amies' planned store rollout. The loan is intended to enable the Company to fund its expansion programme over the next two and a half years. Depending upon the rate of growth of the Company and the cost and pace of the store rollout programme, use of the proceeds of this loan may be sufficient to allow the Company to achieve a profitable trading position. As a consequence, the Company may not require any further equity funding over the next two and a half years."

Against that is the statement on 21st September: " Looking forward, the company said it is currently considering the longer term funding options for the business with a view to accelerate growth beyond 2008. This could include a rights issue next year, it said. Hardy Amies said its second-half trading expenses will rise as the new stores come on stream and the company incurs pre-opening costs."

The two statements aren't necessarily contradictory - Arev might just want to get its loan money back at some stage this year. But they're not likely to press for it if it means a rights issue at a low price and a substantial dilution of their shareholding I'd have thought? It's not like they're short of money.

So 2 possible scenarios:

1/ Rose-tinted spectacles view: Given that they may want to have a rights issue they will need to get the share price up (don't forget that both Brunning and Phillips bought 1 million shares at 1.25 on the 4th October and Phillips also has options for another 20 million (!) at 1p ((11th Jan 2007)). So, what's the best way to please the market? Lower expectations, clear out all the old problems, roll out some new stores, keep all the good news back until a stunning set of figures in the summer and then raise more money.

2/ This is all rubbish. They've expanded too fast in a rotten market and are stuffed. As are we.

Comments please.

PS ladybird why do you think further loan unlikely?

[bungler] 29/1/2008 09:33

This is very depressing - head of the losers board. So much for my purchase last week at 2.28! I am now down on HA for the first time in about a year. ladybird, if you don't mind me asking, are you still holding or just an interested bystander?

[ladybird1] 29/1/2008 08:37

Thanks bungler - it was niggling me.

You never know, we might be reopening positive conversations on the board in a couple of months time.

[bungler] 28/1/2008 19:10

The difference is in the date ladybird - 2006 in the first - amended to 2007 in the second.

[clocktower] 28/1/2008 18:19

Will not be profitable until after 2008 they say well does that mean 2009 2010 or maybe 2020 even. On what basis do they make that statement?

How much does the board draw each year with pensions etc etc?

[seizetheday] 28/1/2008 17:43

carpeS? lol
nothing funnier tnan that who tries to be clever and fails!

CarpE diem sounds slightly better

[ladybird1] 28/1/2008 17:14

PS. I've been trying to find the difference in the reolacement trading statement. Can't. Can anybody find it?

[ladybird1] 28/1/2008 17:10

Just got in & a bit sad to see it on the front page as number 3 loser for the day, but that's your penny shares, even on 47k sold.

Will presumably go quietly back below 1p in due course unless/until there's reason to buy. Carpes diem, bungler? (sorry, SEIZE., couldn't resist it)

For me, nothing to do now but stick them in the attic and wait.

[seizetheday] 28/1/2008 15:14

nor to sell

i think the huge (...) amount of money sold today is still not a problem

160 quid?