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Real-Time news about Supercart (London Stock Exchange): 0 recent articles
|5uchchi: Majority share holder might make an offer and take this company private cheaply.As per TRADING STATEMENT business is picking up considerably where as share price is not appreciated by the market accordingly.Do your own research(dyor)but in my opinion it is likely to happen soon rather than later.|
|masurenguy: LOL - the management here have raised £10.9m in various placings over the past 7 years and produced cumulative losses of £6.4m (never having made a profit in any year since the company listed on AIM in 2004 either). The market cap is now just £1.27m and they have also presided over a 96% decline in the share price during that period.
Following this outstanding performance, they have now surrendered 3.85m existing options, which were obviously well out of the money and probably considered to be well out of reach too, for 11.86m new options at 3p instead. This has diluted existing long suffering shareholders by a further 8% !
"the Company has granted options over 11,857,500 ordinary shares, representing approximately 7.98% of the current issued share capital."
Management are are making a good living working for this loss making company.
The Drewster - 1 Dec'10 - 512: From the 2008 report and accounts you can see the highest paid director recieved £312,000 ... up from a measly 212,000 in 2007. I would argue (as would many I would wager) that was slightly out of line with the rewards being received by shareholders
These new options also come on top of a one-off bouns of £240K paid to the CEO two years ago.
"During 2009 an exceptional one off bonus of £240,480 was paid to the CEO Mike Wolfe for his success in acquiring the Rehrig business out of administration. It is recorded that Mike Wolfe used this bonus to subscribe for 1,410,000 shares in Supercart at 10p. This is not a recurring bonus and any future bonus remains at the discretion of the remuneration committee.
Oops - the £141k of his £240K bonus that he invested in Supercart shares at that time is now worth only £28.2k two years later but I suppose that the 4m options that he got at 3p today gives him a shot at attempting to recover some of that loss over the next 10 to 13 years ! "The New Options, being issued as replacement for the Surrendered Options, are exercisable at a price of 3.0 pence per share. 3,852,500 New Options are exercisable at any time between 7 April 2011 and 7 April 2021 and the remaining 8,005,000 New Options are exercisable at any time between 7 April 2014 and 7 April 2024.
|ebomber: Until we have visibility on matters raised in the second paragraph (see below) the share price will hover at these low levels in anticipation of dilution.
Turnover of GBP2.81million (2009: GBP0.95 million) was 199% higher than the
comparative period in 2009 due primarily to a strong performance in North
America. As a result gross margins in the first six months improved
significantly to 23.4% for the period (2009: 17.8%). The operating loss for the
period was reduced to GBP0.51million (2009: loss of GBP0.99 million) and
retained losses fell to GBP612,000 from a loss for the first six months of 2009
As announced at the time of the Preliminary Results statement on 28 June, the
Directors are considering further equity and debt funding arrangements to
provide the Company with further working capital sufficient to meet its
anticipated requirements over the coming months. The Board has received
confirmation of support in principle from certain of the Company's main
shareholders and while there can be no certainty that such funding will be
ultimately successful, the Board expects to be in a position to announce further details shortly.|
very good points, these are the same concerns that I have as an existing shareholder.
I don't see the company going down the pan but the share price could be devalued even more which is a concern.
No trading activity in the stock today, just artificial moving of the price by the jolly Market Makers.|
|masurenguy: Supercart first listed on AIM in February 2004 placing 8m shares @50p to raise £4m. At the time of their IPO there were 20.5m shares in issue and the market cap was 10.25m
03 Nov 2006: Raised £1.2m by placing of 15,000,000 new Ordinary Shares at 8p per share.
22 Nov 2007: Raised £1.6m by placing of 8,000,000 Placing Shares at 20 pence per share.
23 Nov 2008: Raised £1.0m by placing of 5,000,000 Shares at 20p per share.
26 June 2009: Raised £1.4m by Placing of 15,000,000 Shares at 10 pence per share.
The four post IPO placing raised a further £5.2m. A further placing will be necessary before the end of this year to provide more working capital (see June Trading Update)
Their cumulative losses in 6 fiscal years since the IPO total £6.4m.
Today, some 6 1/2 years later, there are 63.5m shares in issue. At the current share price of 4p the market cap is £2.6m.
In that 6 year timeframe their sales have grown from £2.4m to £7.3m but the latter figure includes acquired Rehrig orders so like for like sales have effectively just slightly more than doubled during that period.
Operating costs increased from £1.1m in 2004 to £2.8m in 2009.
Gross margins were 16% in 2004. They increased to 18% by 2008 but fell to an all time low of 11% last year.
Operating losses of £800K increased to a record loss of £2.2m last year.
The above summarises some of the key financial metrics since the IPO. All existing or prospective investors should do their own research and make their own judgement calls ! As they say in financial circles "Past performance may not be indicative of future returns"|
|masurenguy: This company has never made a profit. In the 6 years since it listed on AIM it has posted the following losses.
They initially raised £4m by placing 8m shares at 50p 6 years ago. Since then they have raised a further £5.2m in four further placings which has all been used to finance trading losses during this timeframe. A further placing will be necessary this year !
Last years gross margins at 11.5% are the lowest that they've ever been since the company commenced trading. Their expenses at £3.1m were also the highest that they have ever been. Even if they improved their gross margins back to 18% in 2010 they would still need to increase sales by 250% to circa £18m just break even and who thinks that there is the remotist chance that they will achieve that !
Their current market cap is just 20% higher than last years pretax losss so how do you figure that this fall in the share price is "way overdone" and on what fundamental equation do you base your assertion that the share price will "rise again shortly".
The sales increase last year was wholly attributable to turnover that was largely acquired from existing customers and contacts of Rehrig in the USA, who went into administration. Organic sales outside of North America actually fell by 13% last year.
This company has completely failed to demonstrate that they have a viable business model in the 6 year period since they listed on AIM. I would be very interested to see your investment case for this company to support your claim that the share price will shortly rise again !|
|swiftnick: This is the worrying bit:
As a result of the on-going losses the board anticipates that the auditors' report will emphasise that the Company has prepared internal trading forecasts, projected cash flows and other relevant information, which indicate (based upon a continuing improvement in forecast sales during the second half of 2010) that the Company will have a short term cash requirement over the coming months, and that the directors are currently considering a number of alternatives including further equity or debt funding arrangements. Whilst the directors are confident that additional funding will be obtained, and that the improvement in forecast sales will be met, they have concluded that the combination of the above circumstances represents a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. Nevertheless, based upon the director's expectations that additional funding will be successfully obtained, in addition to achieving the Company's current trading forecasts, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
The share price likely to be depressed until funding is in place. Then expect dilution.|
|andrew james: This is a company now set to turn the corner, last years results when published will not be fantastic but we already know this and the share price has suffered accordingly.
Sales for the first half of 2009 were around £1,000,000, we are already aware of orders that are over £1,000,000 for the first 4 months of 2010 then there are the orders we don't know about + sales in South Africa & Austrailia, just bide your time if your already holding and if your looking right now then i don't think you can far wrong with this one, but DYOR|
"Supercart (SC., 16.5p, £10.48m)
The group has extended its initial business with US based Target Corporation to encompass the supply of a range of shopping trolleys, hand baskets and related repair and replacement parts for a period of 4 years to December 2013. While the short term has seen an upturn in activity and market outlook, it has occurred too late to benefit Q4 of this year.
The US market has reacted well to the US re-launch of the Rehrig range and the group will enter 2010 with a strong pipeline. South Africa has continued ahead of budget and will report a strong performance. In addition the group announced its first order in Australia. European sales have been disappointing but a reorganisation in H2 has led to the first order with one of the largest French retailing groups, won jointly with French distributor Caddie.
We continue to believe the Rehrig acquisition was a positive move by the group and the group is well place to take advantage of the retail markets as and when they recover. Investors should look through the slightly disappointing short term trading update and recognise the long term contract with one of the US' largest retailers is more important to the share price. We maintain the group as a SPECULATIVE BUY."|
|masurenguy: Good update, RHPS recommendation and MM price antics have pushed the share price up today. This looks to have good long term potential but the current share price looks rich on the basis they they will still probably post a £500,000 loss this year.
Will look to buy-in if the price retreats back to circa 15p in due course after the current excitement has subsided !|
Supercart Plc share price data is direct from the London Stock Exchange