||EPS - Basic
||Market Cap (m)
Real-Time news about Hartstone (London Stock Exchange): 0 recent articles
|sportbilly1976: well i am staying put....i believ that any offer will be at a premium to the current share price..it is worth a hedge though by buying into the prefs...just been a nice 250k broker buy of the prefs too....|
|andonis: I think the share price will fall if the deal is off but not
The Prefs however? The HSTA? DO you think the price will hold?|
|tanners: Dell -Not at all.....it's been an interesting debate and certainly had me scratching my head at times.
Indeed that could be a scenario and I really can't decide whether to wait and see.
I've a reasonable result at the mo, so could cut and run, but the other side of me says 'what if'!
Agreed GG that the reality is that d4e is seen as a negative thing so it usually has a result of depressing the share price and therefore shrinking the market cap.
Now I'm jus gonna pop over to the Gladstone thread......!|
|tanners: GG......have a read of my original post- the point I was making and that was being debated was the relative strnghth of the balance sheet.
The balance sheet remains the same......er, just the point I've repeatedly made.
Correct, you have more ord cap shares in issue, but no pref shares in issue, so the ord cap shares assume the pref. shares equity on the balance sheet.
In an ideal world the share price would change so that the market to book ratio remains the same........however I am not saying that that is what will happen.
In essence the ord cap equity is currently about £300,000......if £10 mill wa raised by the way of a placing of 1 bill shares at say 1p then the ord cap equity would then be £10,300,000.
If the share price does not react accordingly then the market to book ratio changes and you're looking at a completely different investing proposition.
Imagine the scenario if the market cap stayed the same after the placing (what you're suggesting)- you'd suddenly be able to buy the whole of the equity of the Company for 1/10 of the price.(or in effect ten times the equity for the same price).
Whats realsitic is probably somewhere between the two scenarios.
GG.....perhaps you should read ny origainal post regarding the balnce sheet and stock valuations to see that I am not of the opinion that equity stated will be the value actually realised in the event of liquidation.|
|day_dreamer: FUTURE PROSPECTS
The new licensing agreement will obviously have an impact on the Aigner
business, and also therefore on The Hartstone Group. The principal change will
be a reduction in working capital and bank borrowing, which has enabled Aigner
to enter into a new bank agreement. Although Aigner has gained the benefit of a
monthly license fee from Bennett Footwear, it has forfeited the contribution
which the footwear division previously made to company overheads. As a result,
the management structure has been streamlined, staff have been reduced and
overhead savings have been made.
I make no secrets in my headline post, a very long term high risk play on
hst getting debt free and seeing a upturn in their struggling shoe business,
if you look at the interims it's not all doom and gloom, they have a long way
to go but their accessory business did up well with a 46% rise in sales.
Any upturn in their business could have a serious effect on their share price
which has a market-cap of under 2 million, this is the gamble which again i make
no secret of, now you have the preference shares which have attracted attention
and now the ordinaries have got the attention of 2 big stake holders which to
date nobody knows nothing about, i was delaying my post in the hope of giving
you some more detail with the accounts from a friend who is in that line of
work but he is away at present.
I have no idea why Evo suddenly have twice moved up their quotes when there
is no trades, maybe they have a protected buyer but again this is a high risk
|alexicacon: HST FACTS: Take a look
All data provided by ADVFN.
Quick assets 10.15m
net working capital 11.74m
Market cap 1.38m
Cash flow ps 2.46p
Turnover ps 46.20p
Prev close 0.85p
Net tangible asset value ps 1.83p
Cash ps 0.71p
Cash per share ratio, is defined as cash & equivalents divided by the number of ordinary shares in issue, expressed in pence (currency being GBP). The formula is as follows:
= (cash & equivalents / shares in issue) * 100
Note: In a healthy industrial company, a Cash per share ratio that is close to the share price might suggest that investors are currently underestimating the worth of the company's ongoing business, thereby creating an interesting investment opportunity.|
|day_dreamer: Blimey looks like i was the only buyer today :-))
One of those risk reward scenario's....surely with
all that turnover there's a chance of a multi-bagger
if they could pull off a recovery but this wont be
easy with their debt etc etc.
As for institutions selling out a rock bottom prices, this
happens all the time and it's a tip to get in most of the
time for when their overhang is cleared then you know what
happens to the share price.
A very high risk punt make no mistakes.
|nod: Debt is about 18m but with the downturn in the US they have been defaulting on bank interest payments. They also defaulted on 8p per annum dividend payments to preference shareholders (2x4p). The bank could have pulled the plug and recovered some of the debt by selling assets - so the risk has been exceptionally high and the share price low.
Share price still reflects a high risk of going into liquidation. If the negotiation is completed and trading conditions improve then the share price should recover. I'm fairly positive on bank terms as the bank could have pulled out long ago.
With this Bennett deal they should be in a position to negotiate with the bank, resume dividend to pref shareholders (HSTA) and live happily ever after.
I hold both HST and HSTA - betting on a resumption of pref divis plus convertables are redeemable for 1 pound on 31-July-2005 - 22 months away - currently priced at around 44p to buy.
Of course, if they go bust I can wave goodbye to my wager.|
|graylyn: Not expecting good results, but a management buyout or the long awaited sale of Etienne Aigner would be great, HST are usually on time with results, and as you say no one is expecting really bad news as the company have remained silent after the intrim results posted in Dec 02. I emailed S.Dowling at end March regarding current trading, he replied stating that trade had not yet picked up.
To be fair though HST did say that they did not think trade would improve before Spring 03 so we will just have to wait and see. A post on another board says that results have been delayed 2-3 weeks? if so, then I only hope it is to do with the sale of Aigner and not a massive profit slump.
Considering the current share price together with tentative recovery in HST markets in North America, I would have thought this to be a good time for a preditor to strike? I live hope anyway, good luck.|
|graylyn: To cheap..............Just my thoughts.
I think HST is now way over sold, if you convert
all the pref shares you have a total of
258m @ 1.75p= £4.5m that is far to low even
given that there will be a loss for the year
of perhaps £1 or 2m.
Taken from Annual accounts 31 March 2002
Stocks £25.230M Debtors £13.500M Cash £2.144M
less creditors £16.803M
Gives net assets of £24.071million, even if
you lop £14million off that asset figure it still
leaves £10 million which would work out at more
than twice the present share price!!! 3.75p would
be a more realistic price taking everything into
account, plus if the U.S.A. picks up next year then
HST will be well positioned to stage a recovery back
up to pre tax 4 to 6 million.
I think HST is now worth a gamble even before
intrims on 13th Dec 2002, I feel that all the bad news
is reflected in the share price now and a jump to 3p
looks possible short term the falls in share price have
been on very low turnover, I have purchased 3 times
now averaging out at 2p.
Hartstone share price data is direct from the London Stock Exchange