Amberley Grp. Share Discussion Threads

[tiltonboy] 01/2/2003 14:00

LFC is London Forfaiting, which is one of the value shares, but has become a thread for value shares in general.

There are some good posters, with some interesting ideas.

tiltonboy

[wolfhound] 01/2/2003 11:34

Not familiar with LFC can you give me the URL please.

[tiltonboy] 31/1/2003 10:44

A further consideration, albeit a small one, is that a 10p dividend within a PEP/ISA is worth an extra 1p in a tax credit, which is another 4.5% on your overall return.

There is also the possibility that the company will repay all of it's excess cash and still do a reversal. This may add additional value to the company.

For more information on these sort of situations have a look at the value thread on LFC, where you will notice that AMB was brought to attention before the recent announcement.

tiltonboy

[wolfhound] 31/1/2003 10:34

I think if you look at the last RNS you will see that it is worth about 17p a share after the divi. Not a T-trade but one for this years ISA

[wolfhound] 31/1/2003 00:34

Don't take my word for it. Look at note 3 to the accounts in yesterday's RNS.

[vs] 31/1/2003 00:23

Wolfhound,

Thanks for that info. if the number of shares in issue is much lower than I had thought, the sums do change considerably, and there is certainly room for a few pence to be made.

[wolfhound] 31/1/2003 00:12

The dividend will not cost 6 million but 2.3 milion. The number of shares in issue shown by advfn was wrong until I pointed it out to them late yesterday.

I spoke to the company yesterday and the Hull property is on the market at a little over book value. Quite when it will sell is of course unknown.The company are going to draw the LSE's attention to the incorrect data.

As at 9am Proquote also had the wrong number of shares in issue.

Assuming the dividend is covered by the "creditors" item in the six month figures the nav after the 10p dividend is around 17p.

I have suggested it as a low risk ISA play to my broker as it looks as if you can buy 27p for 22p.

[keffy] 30/1/2003 20:44

wolfhound,

Thanks for your input and correction. But do you think a few pence could be made on this one, as VS suggests?

It's my understanding that AMB is valued £5.2 million with £2 million in the bank.This is before the disposals azalea has mentioned. £2 million they recieved in December followed with a further payment of £1.6 million in May.

Not going to buy in this one, but going to treat it as a learning curve.

I think there is money to be had. But will have to see.

[azalea] 30/1/2003 18:37

I too could not belieive the 10p div, so I spoke to the Company Secretary - Alan Sime today, he confirmed it. He also said there was more money to come in from disposals. What really interests me is J O Hambro's 29.9% stake, they did not buy in to that for nothing. Its possible they could see the value of the cash hand backs and the potential if not the precise company that could be backed in to AMB. I bought today.

[mad4it] 29/1/2003 21:01

keffy

My suggestion is....don't invest in anything at the moment.

This is not a market for novice traders.

....or experienced ones for that matter! ;)


Wait for war to be declared,( or not ), that will be the time to consider an investment, but, even then, pick a solid blue chip if you're inexperienced.

[keffy] 29/1/2003 20:14

Cheers. Thanks for the info.
I asumed that would be the case.
But why the rise today?

Don't own any shares,in any companys at the moment. Playing a wating game.
Will we get a sharp rise in share prices. When the yanks drop the 1st bomb?
If so, any suggestions.

[vs] 29/1/2003 19:51

In theory the shares will drop by 10p on the date the shares go ex-dividend.

Basically Amberley are a cash shell who are winding themselves down. The 10p dividend will cost them £6 million, but after paying that I don't think they'll have anything left (all the cash payments they are due will have come in?), so the price might sink.

They might sell themselves as an empty shell company with a LSE listing after paying the dividend, but with no assets left, I can't see any reason to buy in.

[stuie] 29/1/2003 19:49

keffy: it's another way of returning money to shareholders you will probably see the shareprice drop by 10p once the divi is paid. stu

[keffy] 29/1/2003 19:42

Just a novice at this game. Learning things every day.

But how can a company offer a 10p dividend, on a 22p share?
And if so, what will happen to the share price?

LONDON (AFX) - Amberley Group PLC cut its pretax loss in the six months to
Oct 31 2002 to 91,000 stg from 1.87 mln stg a year earlier.
In a statement alongside the results for the first half, chairman Roger
Fletcher said the board is assessing the most efficient way of maximising value
for shareholders, including reviewing a number of approaches from companies
seeking a reversal into the group.
During the first half, the group bought back 60.5 pct of its shares and
returned some 11.5 mln stg to shareholders.
In the event that the board considers that the potential reversal candidates
are not in the best interests of shareholders, the remaining funds will be
distributed as soon as practical, said Fletcher.

The directors have declared an interim dividend of 10 pence per share.
[e-mail]
slm/

[azalea] 09/12/2002 22:49

Newnsey
I could not agree more, Hambro would have not have ploughed back in to buy up to a 29.9% stake, without being convinced there was more to play for. Indeed, other stake holders at the time of the Tender Offer must have thought so too, as they did not sell any of their stakes through the offer. With AMB now a cash shell, its value must in the idea of something being backed into it. The holders who sold nothing in the offer must be pretty stupid if they are waiting for anything less than 30p (which they could have got previously in the mkt). If I had the cash I would certainly be looking to take a punt. That said, I shall be happy to sell the rump of my shares at around 30p. Interestingly, the price moved up today in an unfriendly mkt.

[newnesy] 17/10/2002 10:02

JO Hambro have been increasing their stake in Amberley since August 2001 when they held 3.09%. They increased their stake to 4.52%(10 Aug), 5.06%(3rd Oct), 6.07%(14th Dec), 7.53%(2nd Jan 2002), 8.08%(28th March), 14.56%(9th April), 15.88%(16th April), 16.13%(1st May), 17.01%(30th May) and 18.19%(26th June) paying between 22p and 27p per share. All these buys were pre the cash return of 32p per share in August. Since then they have increased their holdings to 25.66%(7th Oct) and 29.9%(11th Oct) paying an average of 22p per share.

If there was nothing extra to be gained since the cash return then I would have assumed that they would have kept their original holdings of 18.19% and not added to it this month.

I have taken the share prices from the graphs for AMB at the time of the increased purchases which although not accurate should be thereabouts. I apologise if any of the facts above are wrong as I'm quite new to this. Can anyone with more experience cast an eye over what I have written and feel free to criticise but I can't help feeling that something may be afoot for JO Hambro to increase their holding by 11.71%.

[fhmktg] 13/8/2002 11:32

Movement at last and a useful downpayment indicated.
Given that, what is the balance of taking cash now or waiting for complete settlement in summer 2003?
Any views?

[fhmktg] 06/8/2002 14:44

Company tell me results are due 'within next fourteen days'
Fingers crossed we get a clear indication of future of group and timetable for return of cash!
I could do with some cash in today's market, but at least the current price has been maintained in turbulent times!
Any last minute revaluation of cash available after all the disposals?

[azalea] 05/8/2002 21:35

fhmktg

I guess that is the question on most holder's minds. What is encouraging for me, is to see that none of the major holders (that I am aware of)notably J O Hambro, have chickened out and reduced their holdings. In addition, one of the few shares that has largely withstood the continued slaughter in the mkts. I sincerely hope we will not be disappointed?

[fhmktg] 05/8/2002 16:37

When do we get to hear about the results/cashback?

[fhmktg] 28/6/2002 16:28

Year end delayed by a month; when does that suggest they will report? End July/early Aug?

[azalea] 27/6/2002 22:02

Jacko

I cannot argue with what you say, as I can only go by what I read. If what you say is correct, I would be looking at the 30p end as I cannot believe J O Hambro has put up all this money building up its current stake for anything less. Whatever, I look forward to a speedy conclusion so I can move on to invest in similar situations!!

Regards

[jacko 1972] 26/6/2002 21:23

Azalea

Amberley have disposed of the last business, it's now a cash shell. There will be no return to profit in 2003.

All that remains is to collect all the cash, pay it out and sell of a couple of small assets and it's the end of Amberley.

Most likely payout will be 28p-30p a share IMO.

Rob