Sigmaroc Share Discussion Threads

[zcaprd7] 26/8/2016 15:55

Good. Thought I was talking to myself then...

[flashheart] 26/8/2016 14:42

Nope. Just joined this morning with a few and looking to add. Difficult to buy though.

[zcaprd7] 26/8/2016 11:17

Just me here now then? Another storming day, and still no news yet?

[zcaprd7] 25/8/2016 11:17

Full circle, back where I was on Tuesday...

[zcaprd7] 24/8/2016 15:59

Looks like Colin bailed out...

[zcaprd7] 24/8/2016 11:28

Aha. New thread. Any views? I held yesterday, which I am now regretting, as I could have sold and bought back, although the spread is a bit hefty... Question is, do I buy more, or wait for the deals?

[johnyee 7] 24/8/2016 11:09

Used to be Messaging International.

[zcaprd7] 24/8/2016 09:51

New thread needed?

[callumross] 07/3/2014 15:58

1m share buy there at 1.5p and now you can only buy £750 online but can sell as many as you want at 1.44p

[praipus] 07/3/2014 08:54

Brilliant thanks. My guess was AMS but Caretech CTH is a much more logical fit.

[johnsmith321] 07/3/2014 06:19

Hi,
The company name has not been announced except as a "profitable AIM listed care sector support services business with a solid dividend yield and a good growth record." in the interim report. Richard Griffiths was on caretech board as non-excutive director and still is a major shareholder (9.98%). When you look through the listed AIM companies doing this, only caretech fits.

[praipus] 06/3/2014 21:51

Caretech? Not mentioned in latest report as far as I can tell? What's your source?

[johnsmith321] 06/3/2014 06:08

Hi,
Just to clarify Caretech investment was for 1M at the time of investment. I estimate they bought at the 75p-100p range. Caretech shares trade at 226p now. So the value is closer to 2.26M by now.

[callumross] 05/3/2014 23:48

Well I topped up at these reduced levels today. That 150k at 1.45p was mine. I will keep adding sub 1.5p when I get the chance. Cash over 1p per share. Good management. Richard Griffiths added a few weeks ago. Interesting investments (disagree about illiquid, PHC yes, but SLN actively traded daily in size and Caretech a £100m company of which they own just over £1m worth.)Also tax losses mean they won't be paying tax on any gains for years to come. Shares probably underpinned by authority to buy back up to 22m of own shares granted recently.

[primachm00] 05/3/2014 21:44

Appreciate this thread - a lot of intrsting info

[callumross] 05/3/2014 18:44

The conversion rights of the preference shares has expired. They are redeemable but undated so they aren't going to be redeemed any time soon and may never be redeemed!

[pugugly] 05/3/2014 14:44

Not really

Re 6(5)

(v) Upon the redemption of any Preference Shares the unissued shares resulting from such redemption shall be designated and (if necessary and so far as possible) sub-divided or consolidated into Ordinary Shares forming one uniform class with the Ordinary Shares in the capital of the Company at the time.

If they have been redeemed for cash (rather than converted and the conversion option has lapsed) I cannot see any necessity or reason for consolidation into ordinary shares. Very confused drafting (imo) and potential work for the lawyers.

I currently hold the ordinaries (rump of Antisoma) and was considering topping up but was considering a possible investment in the ordinary shares BUT trying to assess the break-up value after (or if) the Preference shares were bought back or the assets were liquidated.

At the moment I suspect there may not be a sufficient risk margin to make it a viable proposition (for me)

[praipus] 05/3/2014 14:11

Clause 6 (v) answer your question?

Do you hold prefs or ords?

[pugugly] 05/3/2014 13:50

Prapius:> Many thanks for that. I cannot (so far as the Memo and Articles) are concerned find any Clause to protect the value of the paid up capital of the Preference shareholders. It may be protected by statute but I do not know them well enough. I probably need a Corporate lawyer and and accountant to advise.

[pugugly] 05/3/2014 11:58

Praipus:_ Your 1st 4 points agreed however still trying to locate the Deed covering their rights to the cash and whether they have to be redeemed before any dividends can be paid.

[praipus] 05/3/2014 11:00

Hi Pugugly,

The preference stock is undated? Has no dividend? And is redeemable at the companies request? No conversion rights?

Hmmmm sounds like good terms for a loan to me:-)

Pref's give structural gearing so great in a strong market nightmare in a weak one. However as they are undated and no dividend good news IMHO.

Do the preference stock have a symbol or EPIC code? Anyone know?

[pugugly] 05/3/2014 10:32

CAUTION: Remember however there are 4,331,683 preference shares which have to be repaid at par and rank above the ordinary shareholders on winding up of the company. So (unless there are some special loopholes enabling dividends to be paid on the ordinary and so run the copany assets down to zero - which I doubt but am still reseaching - ) the sum of £4,331,683 has to be deducted from the current NTAV to arrive at potential distributable assets before expenses and charges.

Not (imo) such a slamdunk buy- Might even be a sell at this price due to the illiquid nature of the assets and (imo) considerable uncertainty over the "value/future" of PHC.

All imo & dyor.

[baner] 27/2/2014 06:01

Many thanks Callumross, much appreciated!