Office2office Share Discussion Threads

[empirestate] 20/5/2014 13:08

that 12k I would say is a sell at a generous premium. One market maker must be filling a buy order imo to pay that price. buyers were paying 26 the other day. keep em peeled folks.

[fillipe] 16/5/2014 11:38

terse,even.

f

[empirestate] 16/5/2014 09:04

shortest IMS I've ever seen.

[boonkoh] 16/5/2014 08:44

That was..... A very short IMS statement....

[empirestate] 15/5/2014 21:44

the graph will look really keen if this level holds for the next 2 sessions.
todays 2,500 looks like a sell at a significant premium. One of the market makers is certainly keen to get as much stock as possible. I have convinced myself that Gerber wants this company and the only way of getting it will be an outright offer. Gerber should have access to funding via private equity links so can't see there a problem raising say £35-£40 million.
reckon we could see a move prior to AGM on 29th.

[empirestate] 07/5/2014 13:52

certainly a shortage of stock around, difficult to get quotes in size and on period. Managed to pick up a few small lots earlier.

[empirestate] 06/5/2014 18:19

Hopefully, some positive news regarding reduction in debt and re-alignment of cost base will come out at the AGM.

[empirestate] 28/4/2014 12:09

The Americans do tend to over price the value of their assets imo. Gerber's valuation of OFF did amount to 39p which is rather ridiculous despite being a decent premium to todays share price
I would prefer things to get hostile, which could well be the way it goes considering it's not going to take much money for him to reach 30% at current prices.
A nice trading statement from the management showing improved performance and forward guidance would certainly get the share price going. I am convinced that 565k last week was Gerber acquiring more stock. The market is paying a decent premium for stock today which as said earlier gives me the impression that he has another buy order on the table.
It's all getting rather interesting and certainly worth voting against Gerber's proposal.

[empirestate] 28/4/2014 09:29

That 17k at a premium confirms my thoughts.

[empirestate] 28/4/2014 09:15

Looks like the market is on the bid again. That 2,105 sale fetched a decent premium to screen so by my reckoning there is a buy order out there waiting to be filled. Keep em peeled.

[she-ra] 26/4/2014 16:59

Hope you do get that statement from Office2Office Empirestate.

[dangersimpson2] 25/4/2014 11:44

Yeah, I'm surprised we've not seen any director buying after the final results - after the half year we had a flurry of buys by directors up to the 49p level and the full year results were no different in substance - at the half year they said that FY13 would fall short of FY12 and in the end it came in flat. I guess it can be taken both ways either they don't see value any more at 24p or they are in a close period for some reason. However it's hard to believe they saw value at 49p when they expected FY13 to fall short of FY12 but don't see value at 24p when FY13 results came in flat. Of course the other option is that they don't have any spare cash at the moment.

[empirestate] 25/4/2014 11:17

And the next step is. ''Further to the recent rise in our share price, we would like to confirm.......... may or may not lead............'', which would be nice.

[empirestate] 24/4/2014 18:26

That 565k is apx 1.5% of the total shares in issue of apx 36 million.
It would be good to se an RNS to see who is moving in/out.

[empirestate] 24/4/2014 18:14

looks like that 565,000 at 21p was what's been holding this one back on the flat line.

[empirestate] 22/4/2014 13:09

the market appears content to soak up the sell side still, someone is certainly happy to take the stock on their book and I can't blame them considering I have convinced myself that this level offers exceptional value.

[empirestate] 16/4/2014 01:58

nice flat line formed, consolidation level imo.

[empirestate] 14/4/2014 13:30

Am still surprised that punters don't see value in here, it's got to be a t/o target with a relatively small amount of debt, still profitable and a current market cap that certainly isn't reflective of the business value imo. Management are taking action to improve the company's performance and this should be reflected during the course of this year.

[empirestate] 08/4/2014 12:14

Those trades at around 20.6 ish are buys. Just bought another 10,000 at 20.65p meself.

[boonkoh] 08/4/2014 08:31

Cheaper this way coming in reverse. Dilute the hell out of existing shareholders. Will be interesting to see how much support he gets from existing shareholder base of OFF

[empirestate] 08/4/2014 08:22

Gerber evidently wants control via back door methods, can't see why he doesn't make an offer. GBP 40 million will do nicely imo.

[she-ra] 03/4/2014 15:20

What are these two companies he owns because I cant find anything on the net to suggest he owns any companies.

[simon gordon] 02/4/2014 20:11

FT - 2/4/14:

Office2Office says a dividend unlikely

Office2Office has warned that an expected fall in profits will make a resumption of dividend payments unlikely – giving fresh impetus to attempts by a US investor to shake up the stationery supplier's board.

The company – an offshoot of the privatised Her Majesty's Stationery Office, and listed on the London Stock Exchange in 2004 – is under attack by Nicholas Gerber, entrepreneur and founder of Ameristock Funds, a California-based investment group. Since selling out of Ameristock last year, Mr Gerber has amassed a 9 per cent stake in Office2Office, into which he intends to reverse two of his other US businesses.

Mr Gerber is the latest, albeit the least ambitious, of a series of powerful US activist investors who have crossed the Atlantic with the intention of shaking up UK and European companies. Among these activists are the hedge fund Elliott Associates, pushing struggling grocer Wm Morrison to release value from its property portfolio, and Sandell Asset Management, pressing FirstGroup to sell its Greyhound bus business in the US.

By contrast, Office2Office is a very small company with a market capitalisation of £8m and debt of £22m. It has struggled since 2007, when the Ministry of Defence – then its biggest customer – put its stationery contract out to tender.

Office2Office has cut costs and debt, diversifying into areas such as shredding and recycling paper; storing documents and data; and managing online communications. Core business profit margins remain pressed by a general shift to paperless offices, and digital competition.

Last week, the company said Mr Gerber had applied to add six resolutions to the agenda at the company's annual shareholder meeting on 29 May: to replace the chairman, and two non-executive directors with himself and two other candidates.

It is not the first time that Mr Gerber has thought of reversing his companies into a UK company. Last year, he says he looked at approaching Thorntons, the confectioner, but he did not buy shares in the group and the idea came to nothing.

On Wednesday, Office2Office reported revenues of £232m for 2013, against £227m a year earlier and unchanged underlying pre-tax profits of £4.2m. It again passed on paying a dividend. Stated pre-tax profits were £1.8m against a loss of £1.63m in 2012, after they were restated to reflect changes in accounting and revenue recognition

Jim Cohen, the chairman whom Mr Gerber hopes to replace, said: "We are concerned that the office supplies market as a whole will not improve in 2014, so we remain of the view that underlying profit in 2014 is likely to fall short of 2013."

He noted that customers' buying habits have "changed over the past two years, with a focus on lower cost products, buying little and often".

[empirestate] 02/4/2014 16:01

nice size buys of 131k and 100k at 9.37 and 10.30 am this morn, my money is on our American friend picking up a few more. It would be nice if the directors added a few to their war chests in order to average down.