Share Name Share Symbol Market Type Share ISIN Share Description
Stylo Plc LSE:STYL London Ordinary Share GB0008572066 LTD-VTG ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 3.75p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 2.03

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DateSubject
28/4/2005
08:08
master rsi: Another move up on the share price today, almost from the start 62-65p +1.50p
24/3/2005
21:36
mark c graham: niggle, If the NAV per share is greater than the price per share, then buying back shares will increase the NAV per share of the remaining shares. Imagine the share price is £1, the NAV per share is £2, and there are £1m shares in issue. The company spends £500k cash buying back 500k shares at £1m per time. The NAV has fallen from £2m to £1.5m but, with just 500k shares left in issue, the NAV per share has risen to £3. If the discount to NAV remains the same, then the share price would rise to £1.50.
25/2/2005
11:20
niggle: LONDON (AFX) - Stylo PLC said it has agreed in principle to purchase 6,301,531 limited voting shares at 60 pence each on May 3 and 2,424,723 limited voting shares at 61 pence each on Aug 1 from Trefick Ltd for a total of 5.3 mln stg in cash. To make the second of these purchases, Stylo will need to renew its authority to buy back shares at its AGM this year. It said if it does not get approval it will seek specific authority from its shareholders for the purchases to be effected as off market purchases. Stylo said it will pay cash to Trefick of 3.78 mln stg in May and 1.48 mln in August. The buyback is expected to increase the group's net assets per share and its earnings per share. Looks like Petchey is stepping out from Stylo. What I do not understand: 1. The share price only rose because he stepped in in the first place so Stylo are effectively paying a premium for their own shares. 2. How does this increase net assets per share?, surely the purchase takes money out of the company so has to be funded from somewhere. If they borrow the money then this increases liabilities thus reducing net assets. If they take from funds then this reduces net assts, so am I missing something??? n I too stepped out.............
13/12/2001
10:41
jrb: Here's something I posted yesterday on the 3i board (Shooting Shares is a 3i poster who welcomed - I thought wrongly - the purchase of shares by M.A.Ziff in May this year): STYLO It is announced today that Guinness Peat Group have bought another 725k shares, bringing their holding to 13.11%. As readers of this board probably know, another activist, veteran septuagenarian millionaire property investor Jack Petchey, also has a holding (1.34%). Now, it is important to recognise what is at stake here. Stylo is a bad company in a bad business (shoe shops). It has lost money for years: £15m in 1999, £24m in 2000, just about broke even in 2001, lost another £2m in the first half of the current year. When you consider that the current market capitalisation is just over £16m, it is obvious that these are significant sums. It has kept going by selling property assets to cover the losses, and it has been allowed to do this because the Ziff family (including the chairman) have control through their ownership of the so-called management shares, which have 16 votes each. There are 2.16m management shares (with 34.56m votes) and only 59.6m limited voting shares, with one vote each. Two Ziffs, I.A. and M.A, also own approximately 7.37m limited voting shares (12.37%), so that gives them 45.58% of the total votes. Assuming that they are in alliance with the other two large holders, A.S. Perloff (with about 2.8m LV shares, or 4.71%) and Vicuna Advisors LLC (with about 5m or 8.39%), one can easily see that Guinness Peat has an uphill struggle on its hands in its efforts to unlock the prize. The prize is, of course, the company's remaining property assets, worth something in the region of £73m or more than 4 times the current market capitalisation. (Net assets, after deducting borrowings and other liabilities, are still about 101p per share, just under 4 times the share price.) I hope this makes it clear why Shooting Shares (who posted below in May) was wrong to welcome the purchase of more shares by M.A. Ziff. Mr Ziff was not expressing confidence in the company: he was cementing a stranglehold on it. This is a failed company which should be sold for the benefit of shareholders or closed down with a distribution of assets to shareholders. Will Guinness Peat succeed in bringing about this desirable conclusion? They must think they have at least a chance. One wonders why even the Ziffs wish to continue burning up their inheritance, when they could live so much more comfortably by realising the value of their investment now and reinvesting it elsewhere.
15/7/2001
21:12
niggle: Triple baggers don't come along very often so read carefully and for god's sake DYOR! At the current share price of 29p the group is valued at just £17.28m. Net assets stand at over £60m, The shares could rocket to over £1 quite easily if this man is serious The last time this happened in the mid 80s the shares shot to over £3.50 ( £1.17 in todays post split price) It could easily happen again. This is the article from the Telegraph. Good luck folks. Petchey portfolio threatens Stylo By Richard Fletcher (Filed: 15/07/2001) JACK PETCHEY, the active investor and property magnate, has built a secret stake in Stylo, the shoe retailer which owns Barratts and Saxone - raising hopes that the troubled group could finally be broken up or sold. Stylo, which owns a large portfolio of freehold property - including more than 450 shops - has long been targeted by activist shareholders attracted by the group's freehold property portfolio. Petchey has acquired a 1.3 per cent stake thorough Trefick, an Isle of Man based investment vehicle. Other activist shareholders with holdings in Stylo include Sir Ron Brierley's Guinness Peat Group, which controls a 7 per cent stake; Causeway Smaller Quoted Fund, which holds a 14 per cent stake; and Vicuna Advisors, which owns 8 per cent. Petchey, who has acquired his stake over the last few weeks, is believed to have held discussions with other shareholders, through his broker Peel Hunt. Previous attempts to break up the group have been frustrated by a dual shareholder structure - Petchey for example only controls 0.8 per cent of the voting shares - which means the company is effectively controlled by the Ziff family. Petchey is not the first property entrepreneur to attempt to break up Stylo. In the mid-1980s John Ritblat, chairman of British Land, took a stake, but conceded defeat three years later. Last year Stylo effectively raised a for sale sign over the business, when it appointed PricewaterhouseCoopers to review its options. The appointment followed the anouncement that the company had lost £23.6m. PwC failed to find a buyer for the whole business, but sold a leasehold store on Oxford Street for £11m, which enabled the retailer to reduce its debts. Following the review Arnold Ziff, who founded Stylo, retired as chairman, to be replaced by his son Michael, and the group disposed of a number of brands such as Bacons, Stylo, Instep and Hush Puppies to focus on Barratts, Saxone and Priceless. Petchey, who shuns the spotlight, has had phenomenonal success over the last three years shaking up the quoted property sector. The 75-year-old, who has amassed a £225m fortune, has been the catalyst for a wave of corporate action which has seen over 50 property companies merge or go private. Petchey is reported to have banked over £30m of profit from the consolidation. In April Stylo announced pre-tax profits of £300,000 compared to the loss in the previous year. But Michael Ziff conceded that the group's profitability was still "wholly unsatisfactory" and warned that there was still a great deal to do before the company would be back on track.
15/7/2001
21:07
niggle: Triple baggers don't come along very often so read carefully and for god's sake DYOR! I have started a new thread because of the recent news in the Sunday Telegraph. Old thread Stylo reduces debt' So the big news for the few of us who are shareholders is that it is possible that this Petchey bloke could force the break up of Stylo. If this turns out to be the case the shares will ROCKET. At the current share price of 29p the group is valued at just £17.28m. Net assets stand at over £60m, The shares could rocket to over £1 quite easily if this man is serious and forces the break up. To do this he would have to convince the other shareholders to get together and then one of the Ziff family members so that the voting shares majority is reached. The last time this happened in the mid 80s the shares shot to over £3.50 ( £1.17 in todays post split price) It could easily happen again. This is the article from the Telegraph. Good luck folks. Petchey portfolio threatens Stylo By Richard Fletcher (Filed: 15/07/2001) JACK PETCHEY, the active investor and property magnate, has built a secret stake in Stylo, the shoe retailer which owns Barratts and Saxone - raising hopes that the troubled group could finally be broken up or sold. Stylo, which owns a large portfolio of freehold property - including more than 450 shops - has long been targeted by activist shareholders attracted by the group's freehold property portfolio. Petchey has acquired a 1.3 per cent stake thorough Trefick, an Isle of Man based investment vehicle. Other activist shareholders with holdings in Stylo include Sir Ron Brierley's Guinness Peat Group, which controls a 7 per cent stake; Causeway Smaller Quoted Fund, which holds a 14 per cent stake; and Vicuna Advisors, which owns 8 per cent. Petchey, who has acquired his stake over the last few weeks, is believed to have held discussions with other shareholders, through his broker Peel Hunt. Previous attempts to break up the group have been frustrated by a dual shareholder structure - Petchey for example only controls 0.8 per cent of the voting shares - which means the company is effectively controlled by the Ziff family. Petchey is not the first property entrepreneur to attempt to break up Stylo. In the mid-1980s John Ritblat, chairman of British Land, took a stake, but conceded defeat three years later. Last year Stylo effectively raised a for sale sign over the business, when it appointed PricewaterhouseCoopers to review its options. The appointment followed the anouncement that the company had lost £23.6m. PwC failed to find a buyer for the whole business, but sold a leasehold store on Oxford Street for £11m, which enabled the retailer to reduce its debts. Following the review Arnold Ziff, who founded Stylo, retired as chairman, to be replaced by his son Michael, and the group disposed of a number of brands such as Bacons, Stylo, Instep and Hush Puppies to focus on Barratts, Saxone and Priceless. Petchey, who shuns the spotlight, has had phenomenonal success over the last three years shaking up the quoted property sector. The 75-year-old, who has amassed a £225m fortune, has been the catalyst for a wave of corporate action which has seen over 50 property companies merge or go private. Petchey is reported to have banked over £30m of profit from the consolidation. In April Stylo announced pre-tax profits of £300,000 compared to the loss in the previous year. But Michael Ziff conceded that the group's profitability was still "wholly unsatisfactory" and warned that there was still a great deal to do before the company would be back on track. The group has never recovered from the disastrous acquisition of the Hush Puppies and Saxone brands from Sears in 1996. niggle
26/4/2001
03:36
usedbook: Well, they turned a 6 million interim loss into a breakeven position at the year end,which is pretty good going considering the size of the business. As to the point about boots and the weather,I think this management would not have invested in epos and software not to use it. I also think management will have more time to get the stock mix right-they've been firefighting for 2 years just to get the stylo ship on an even keel. There may well be tough times ahead,but its obvious that the managers are a pretty savvy bunch, and I do expect further progress.Whether the share price will reflect management efforts I know not,but I reckon they are reasonable value at 30-40p:esp considering the property backing.
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