Sagentia Grp Share Discussion Threads

[jonwig] 28/10/2007 18:13

loss-leader, hi.

from the latest H1:

The residual value of the property at Harston Mill has been revised to £10.6m.

And from the previous annual report:

Bank loans drawn at the end of the year were £6.5m (2005:
£6.6m). The loan is part of a Group facility taken out as a
five year revolving loan facility of up to £9m secured against
Harston Mill, together with a further £2m overdraft facility
guaranteed by Sagentia Group. This replaced the existing
mortgage against the building. At the end of 2006 £4.5m of
the facility remains available to be drawn down.

The Mill is part of the NAV I posted up in #166.

[loss-leader] 27/10/2007 17:05

do they still own harston mill? that must be worth £5m

ll

[jonwig] 27/10/2007 11:34

ade - normally when a share dives, enough people look for value and (if it's apparently there) make a decent two-way market with some days of good volume.
This just hasn't happened with SGA all year, from what I can see.
These needn't be 'speculators' or day traders ... just ordinary folks like us.
Are there really so few people who see the anomaly, or are we mug-punters?

As for SGA being a long-term investment, we have to live in hope!

The NAV at end-June of 8.2p needs shaving by another 0.5p to take account of the further fall in CMF. So 7.7p it is.
A complete write-off in CMF would take another 0.5p or so.

[adejuk] 26/10/2007 21:38

hope my head is right
i topped up again today - 2.6

[adejuk] 26/10/2007 16:30

i don't think this is one for the speculators or day money jon
long term investing is the story here
trading at a huge discount to nav now
i spoke with the ceo this am
very calm - hadn't even looked at the sp
just getting on with business

[jonwig] 26/10/2007 16:17

Hi, ade -yes, I have the funds, though I can't stretch to 8m shares!!
The strange thing is the lack of any speculative buying in the face of the drop, over the whole year.

[adejuk] 26/10/2007 16:03

fundamentals still good
there is no panic internally
this will unwind over the next few months or so
i think time to top up if you have the funds

[jonwig] 26/10/2007 15:25

Down again.
If a 25% drop in a day doesn't generate an RNS, what does?

216m shares at 2.6p = £5.6m MCap.

Net Assets at 30 June = £17.9m = 8.3p - no intangibles.

[jonwig] 26/10/2007 14:15

That's 4% or so ... so we should find out who, I suppose.

[adejuk] 26/10/2007 13:44

huge overhang
8 million on offer

[jonwig] 26/10/2007 12:34

You could be right, Col.
But far larger sells have failed to have the same effect (% - wise) in the past.

I can't find the relevant listing requirement about significant share price falls.
This is more than 10% but less than 20%.

[colonel a] 26/10/2007 12:21

The timing of the 100K sale exactly matches that of the price drop.
But there must be something else in the pipeline as they're 2.85 to buy {edit}.

[elgordo] 26/10/2007 11:19

Ouch. Masters (chairman) and Bjorklund (non-exec from Catella) bought at 5.25p in June, so presumably had no reason to expect this continued slump.

This idiot holds most of his in an ISA, so I don't even get to enjoy the tax benefits of the capital loss.

Agree it's time for the company to make a statement.

[jonwig] 26/10/2007 10:55

Just seen it ... a 10% fall warrants an RNS, I'm sure.
Maybe a large seller (the same one) has been pounding away - that's the only decent scenario, isn't it!
No trades showing on PLUS, just the one sell of 100k on LSE - that's not big enough to do the damage.

[adejuk] 26/10/2007 10:36

i think it's time we had an announcement here
this fall is shocking

[elgordo] 22/10/2007 12:04

In the continued absence of news from their larger holdings, I see that Atranova (which SGA owns 91% of) is in the process of updating their website. There is now a (very poor) overview of the technology if you click on the "Ebonex Applications" button on the Ebonex Technology page.

Potentially more encouraging is that the Recent Work page has now been built out, although the links are currently blank (and the rogue apostrophe in "Manufacturer's" shows a disappointing lack of attention to detail...).

More amusingly, if you click on "Confectionary", it takes you to the Sewage page - nice.

[adejuk] 17/10/2007 09:19

or trade sale which is more likely

[adejuk] 17/10/2007 09:18

elgordo >
the vc reckons up to 1 billion on ipo.

[picnic] 16/10/2007 19:47

Nope sorry El Gordo , I would only be guessing. Just happen to spot the trade
on the LSE website (through the link on the SGA website).

[elgordo] 16/10/2007 18:29

Another 1 million trade gone through, I see. Any update on the block trade you referred to in post 143, PICNIC?

adejuk - you've always been very positive about Sphere, which SGA owns 11% of (from memory). Any view of mid-term valuation potential?

[adejuk] 16/10/2007 14:12

thx jon
this still remains, for me, a stupidly cheap way to get a large slice of sphere.

[jonwig] 16/10/2007 14:01

adejuk - I doubt it. The new system can mean these stocks are permanently in auction, I believe.
Also, there are usually far more trades through PLUS than the LSE.

[adejuk] 16/10/2007 13:41

what's going on here?
we've been in auction for almost 2 hours.
trub upt mill?

[picnic] 12/10/2007 16:49

Nice 1 million trade @3.25p