|Nice new site:-
New Epic as from tomorrow: LGNG|
|A few placing bets today, including me>|
|only1buster - I'm pretty sure the market cap is more like £11m (this site have it wrong, while III & HSBC indicate circa £11m)- which is annoying becuase it can screw up your analysis - I bought partly because like you I thought the market cap was low only to discover (about a year later) it was twice as much!!
Thus halving my fair value/target price!! Doh!
Having said that I still think it's good value and although my optomism has been volatile this year I'm hopeful next week will bring some positive price movement.
It's place your bets time!!!!!|
|the directors dont have to buy - in the last year Mr H has taken his share of sgd from 11% to 29.99% by converting his loans to the company and his cash entitlements re the takover of his former company Manguard into shares @ 1p per share - He holds the maximum number of shares wihout having to bid for rest - He has put himself in a very strong position @ a peanuts price.|
|I think we might see a couple of director buys,The 200k buy plus more which pushed the bid back to 1.5|
|the market cap at present is 5.53m - turnover in 09-10 could well be 60m plus when all the tha recent buys are intrigrated - profit of 6 - 9 m indicated - the present market cap is way out of line|
|The Company is also seeking Shareholder authority to issue up to a further £1,284,150 of the unissued share capital of the Company, equating to 256,830,000 new Ordinary Shares, of which £583,700 (116,740,000 Ordinary Shares) can be issued for cash after disapplying statutory pre-emption rights.
If 116,740,000 shares are placed then further dilution will occur, (if I understand the gist of this paragraph correctly).|
|when manguard was "taken over", M Higgins received 40 million shares roughly 11% of the then isssued shares. Following the above mentioned exercise, M Higgins will emerge with 29.99% at a cost of approx 1p per share - a very nifty exercise. It is to be hoped that the remaining holders will share some of the remaining crumbs by way of a divi|
|Is this news equal to one third dilution?
('SectorGuard' or the 'Company')
Proposed change of name to Legion Group plc
Notice of General Meeting
SectorGuard plc ('SectorGuard' or the 'Company'), the AIM listed provider of security and fire protection services, is sending to shareholders today a notice of General Meeting convening a meeting for 3.00 p.m. on 29 June 2009 at the Chancery Court Hotel, 252 High Holborn, London WC1V 7EN.
The General Meeting has been convened in connection with proposals to change the name of the Company to 'Legion Group plc' and to strengthen the Company's balance sheet by the conversion into ordinary shares in the capital of the Company ('Ordinary Shares') of £1.845 million of indebtedness currently owed to Mark Higgins, the Company's Chief Executive Officer.
Change of Name
When the Company acquired Legion Group plc ('Legion Group') in March 2009, the Directors stated an intention to retain the 'Legion' brand for the enlarged group. Since completion of that acquisition, the 'Legion' brand has been promoted as the principal brand of the group and this transformation of the group's brand image will be completed by the proposed change of name of the Company to 'Legion Group plc'. The entire enlarged group will be rebranded 'Legion Group' with effect from 1 July 2009.
To assist in the funding of the acquisition of Legion Group, the Company borrowed £1 million from Mark Higgins and issued to him a loan note convertible into Ordinary Shares at an issue price of 1p per share. The Company proposes to convert the entire outstanding £1 million balance of this loan note into 100,000,000 Ordinary Shares at the earliest opportunity available in accordance with the AIM Rules.
In addition, as announced on 11 March 2009, the Company and Mark Higgins agreed to capitalise part of the indebtedness owed by the Company to Mark Higgins in respect of the consideration outstanding under the agreement by which the Company acquired ManGuard Limited. On 11 March 2009, the Company issued £1 million loan notes to Mark Higgins as payment of part of the first year additional consideration payable under that agreement. The Company also proposes that, subject to the passing of the relevant resolutions at the general meeting, £845,000 of such loan notes should be converted into 84,500,000 Ordinary Shares, also at the first available opportunity. The balance of £155,000 of the loan notes will remain outstanding on the terms set out in the loan notes.
The issue of the Ordinary Shares is conditional on the passing of certain resolutions at the General Meeting and admission of the Ordinary Shares to trading on AIM and is intended to take place following the announcement of the Company's final results for the year ended 31 March 2009, which is expected to happen in July.
Following completion of the conversion of the debt referred to above, the enlarged issued share capital of the Company will comprise 778,276,248 Ordinary Shares, of which Mark Higgins will own 233,375,000, representing 29.99 per cent. of the issued share capital.
As the Company does not currently have sufficient authorities to issue the Ordinary Shares to Mark Higgins pursuant to the conversion of the loan notes, the Company is seeking shareholder authority to issue and allot 184,500,000 Ordinary Shares in connection with the loan note conversion. The Company is also seeking Shareholder authority to issue up to a further £1,284,150 of the unissued share capital of the Company, equating to 256,830,000 new Ordinary Shares, of which £583,700 (116,740,000 Ordinary Shares) can be issued for cash after disapplying statutory pre-emption rights.
The Company also proposes to increase the authorised share capital to £6,000,000.
The full text of the Resolutions is set out in the notice of General Meeting which is being sent to shareholders today and can be downloaded from the Company's website at www.sectorguard.co.uk.
12 June 2009|
|anyone know the exact expected date of the results and when were these quoted ex divi (no divi expected - too much money owed to bank and the top man Mr H.)Dispite the wonderfull progress in 2 years having taken over several rivals, the share price has declined almost 66%, the shareholdings of long term holders have been severely diluted, bank loan has hit 3.6m, 1m is owed to Mr H, the results will have to be wonderfull for the shares to hit 4p plus again. Dispite averaging down, I need to see 3.5p to break even, fingers crossed and good luck to all holders. Being talen over seems to be the solution,a white night urgently required|
|Hopefully, the results will be published on time this year.|
|Looks like we have found our support level......|
|Actually bought @ 1.73 yesterday. Happy to wait for the the rise.|
Small sells today here.....but looks like 1.75 still be offered to sell?
All seems OK to me, unless I've missed something???|
|well done on BXTN|
|Encouraging to see the slow steady buying continue, and to see roll overs too.|
|Thanx for sharing and good luck.
Personally I've got into BXTN this week, in at 25.25p. Just a swap of gen, not a ramp, lol.|
|BRAM TAN YELL|
|Care to share, lol ?|
|On the day the contracts were purchsed 16.4.2009, but there are other oppotunities knocking at the door.|
|Trust the company, not the s/p, these have the ability to deliver. How long have you held?|
|I sold this am on the basis that the share price has not reacted as well as i thought it might on news of the contract purchases.
Let's see what the prelims bring.
|mm's eager to take the stock...and order to fill perhaps ?|
|Come on Mr Finance Director and buy some stock please.|
|All buys so far.Hopefully the next news will get this going.|