Belgravium Share Discussion Threads

[norbert colon] 24/5/2016 11:10

Please note that I have created a new thread for Touchstar (TST) given the change of name and hope that ADVFN users will now move over to the new thread. Many thanks.

[norbert colon] 23/5/2016 10:26

Anyone attending the AGM tomorrow in Manchester?

[russman] 05/5/2016 13:13

I suggest that you check that you hold a multiple of 4k.

[russman] 05/5/2016 13:09

I suggest you check that you have a multiple of 4k.

[harrison15] 05/5/2016 12:16

Anyone with less than 4000 shares is a compulsory purchased out - EASY. Probably market rate. If you qualify it does not much matter what price as tiny numbers.

[eburne1960] 05/5/2016 11:53

Ah, you ARE a wind up.......

[russman] 05/5/2016 09:53

If you did not have a multiple of 1m shares.
You would be given the market price for your fraction.

[eburne1960] 04/5/2016 13:48

Are you just a wind-up or do you really not understand? I'll be charitable and assume you don't have a clue - it's an offer to those with less than 4000 shares, and they will presumably be offered the market price. You do realise that you're talking about a maximum of £40,000-worth of shares?

[russman] 04/5/2016 12:35

Is it deemed to be an offer to all shareholders.What price are they offering.

[eburne1960] 04/5/2016 10:32

Do try and read the GM notice - Chelverton & Ian Martin are buying the fractions.

[russman] 04/5/2016 10:04

BVM consolidates 4k to 1.
Fractions are sold to the MM at best (highly illiquid smallcap & forced seller)
1 New Share is subdivided into 250 shares.
Why not consolidate 1m to 1 then there will only be circa a dozen shareholders left.

[norbert colon] 04/5/2016 09:13

Guys

But anyone holding just 4000 shares with a value of less than GBP 150 is so constrained by dealing costs that the consolidation offers them a route out at low cost. Such a low number of shares can't be an efficient investment for anyone.

If such shareholders want to remain a invested they can buy a few more in the market at the current price to get them over the 4000 limit.

It does make a lot of sense and it certainly has my support.

[cockerhoop] 04/5/2016 07:49

It's clearly not fair to all shareholders as those with holdings below 4000 will have no choice but saying that I imagine lots will have written off their investment (having bought in the dotcom boom) and will be happy to find a cheque land on the door mat from something they'd forgotten about.

If it's something that saves a significant admin expense for the company and the remaining shareholders then I'm supportive.

[russman] 04/5/2016 01:45

I do not consider the consider the terms of the capital reorganisation to be equitable to all shareholders. In extremis why not consolidate 1m to 1 who needs these these small shareholders.

[pavey ark] 28/4/2016 20:26

Well the new guy is certainly shaking things up.
I wondered how he would get the people with less than 4000 share to sell but now I see they have been given no choice (an offer they can't refuse !!).
Sell your shares or be given Deferred Shares which have no value and will be cancelled.
The removal of these shareholders is obviously just a tidying up operation as they can all be bought out for £16k but the consolidation (16:1) does suggest that Martin is taking this seriously and for better or worse thing are happening and at quite a pace.

[varies] 28/4/2016 12:45

So we are to receive in a month's time 1 Touchstar (TST)for every 16 BVM with holders of 4000 BVM or less being bought out.

[napoleon 14th] 21/4/2016 14:55

There is basically two parts to this company IMHO:

The part that says it's about to go up, &
The part that never goes up!

[the oak tree] 10/4/2016 17:02

There is basically two parts to this company IMHO:

1. Its about fixing the various issues of why its not expanded as many thought. So on that it looks good as you'd want a new head guy with skin in the game, you'd want him to shake things up and appointed new people, right off stock and all that kitchen sink stuff. So far so good on this one.
2. But you need quality sellable product in a good market place. Do we have that? Well I think we do but TBA I don't really know. Sales haven't increased as expected. Now we have done the much of first part, its onto this next one to see if we have it.

Thanks hastings for the link.

I must admit I didn't like at all the appointment of Ian Martin as another company CEO. But I do like how he has brought in a fellow he knows as a non-excutive director. I suppose it is a small company and we have proven quality in directors that a company this size probably couldn't buy on its own.

From Private Punter:
"Additionally, alongside implementing various management changes, the board has been bolstered by the appointment of Avesco CFO John Christmas who has joined as a non-executive Director."

Lastly the figures up for grabs are huge. Its a £3.3m cap but is talking about making £500k savings. Which would double 2014 net profit if made. That's huge.

And all this we get on a consistent £9m approx sales per year.

Happy to hold.

All IMHO.

[spooky] 10/4/2016 14:10

hastings - Interesting article thank you for posting it.

[hastings] 10/4/2016 11:27

Added a few comments/thoughts that may be of interest to other holders or watchers

[pavey ark] 10/4/2016 09:45

First chance to sit down and have a good look at the result and quite content with my investment here.

Obviously the expected "kitchen sink" job but the results stiil look sound.
The Quick ratio has slipped from c. 1.35 to just over 1.2 but the EV/EBITDA figure is still reasonably good for a company at this stage in reorganisation.

The tax return should/ could better than given here and the write down of inventory had its impact on profit.( new products coming in would make some slow moving stock obsolete)

The efficiency gain look to have gone straight into an increase in development and sales but this is obviously a sensible move.

The most important thing for me it that Ian Martin had bought 3m shares at 5p and he has said he is willing to buy more.

If one were to take a slightly more cynical view it would not be in the interests of a potential purchaser to talk the price up but on the other hand I do prefer the non gushing approach especially if it's backed up with positive results further down the line.

Things are moving along and even through this upheaval the company still generates cash and has no/ very little debt.

Nice, fairly low cost, overdraught facility in place.

[norbert colon] 08/4/2016 10:38

Varies - good post. I agree with your first 3 paragraphs - my sentiments exactly.

Re: the proposed consolidation, as we are aware BVM have 100,937,000 (101m) shares issued with a current value PS of circa 3p. There is a certain stigma attached to the perception of such 'penny share' type companies hence I assume the reason for the consolidation is also related to this although currently I have not done the numbers on the consolidation and then subsequent subdivision. Norcros (NXR) are just one example of a company that have recently done the same. I think it is a worthwhile exercise.

[varies] 08/4/2016 09:32

We were all expecting dismal figures and it is as well to have them before us.
Writing £6 million off Goodwill looks a bit drastic but makes the balance sheet more convincing.
I would have liked to read of good sales prospects for this year but our new chairman wisely refrains from encouraging expectations that may be disappointed.
The maintenance of revenue in 2015 not far short of previous years comes as a relief to me and I believe there is a reasonable chance that our prospects may look brighter in 12 months time.
I cannot see the need for a capital reconstruction. We all know that, for example, 1,000,000 x 3p = 10,000 x £3 and, now that most shareholders hold through a small number of nominees who administer these holdings collectively, the fact that many beneficial holdings are individually worth less than £200 each should present no problem for the company. This exercise cannot be worth the expense and looks purely cosmetic to me.
There are hundreds of other AIM stocks priced below 5p. What we really want is to see the value of our holdings rise rather than the price per share.

[accrillium] 07/4/2016 18:22

By way of a reminder of michaelmouses guru skills, His avanti long, entry as disclosed at 270p and 115p.


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By way of a reminder of michaelmouses guru skills, another of his long as disclosed at 300p via his blog.


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