Big Food Grp. Share Discussion Threads

[kingdwg] 14/7/2004 08:47

Yeh - had a closer look now. Effectively the shares were transferred by Nutraco Nominees (the company scheme) to employees in recognition of long service. 3 directors were awarded and Gerald Johnson sold enough to pay tax & ni. Willey, that last post almost makes you look bullish.

[anerd] 14/7/2004 08:34

The company is facing some serious financial issues in the absolute short-term, with no real underlying assets, and cash generation now impaired by capital spend. There is no apparent niche and Tesc are expanding rapidly into the Convenience arena.

Margin attrition hits hard when operational gearing is at so extremely high levels. High risk, but prospective PE is lowish to reflect. Strategic options are very limited, so you end up hoping for a bid.

Sell for 50/60p, may even go bankrupt and in risk of breaching covenants IMHO.

[scotswhaehae] 14/7/2004 08:31

appropriate name for poster 1357!

[anerd] 14/7/2004 08:23

Most certainly due for a collapse, should hit 60p within weeks.

[scotswhaehae] 14/7/2004 08:17

thanks...that's my feeling too...probably too embarrased to simply sell!

[kingdwg] 14/7/2004 08:08

From my brief glance at the time it looked like a transfer with one on the directors selling enough to satisfy tax & NI costs but I'll have a look later and tot up.

[scotswhaehae] 14/7/2004 07:56

Are Messrs Grimsey and Hoskins net buyers of shares then yesterday or is it just effectively a transfer? I can't be sure!

[expert363] 13/7/2004 18:04

the reason they sold was that the employees save as you earn matures in october.
I myself had saved into it as they was then locked out at £1.58 in october 2001.

So i am having the money instead.

Next saye expires in may 2006 as well as the free shares theyu issued that also expires may 2006 and these are locked out 58p.

[old crow] 13/7/2004 17:11

Ok Flat,still noted individual Directors still buying
I wonder why.

Keep Crowing

[flat eric3] 13/7/2004 16:50

You won't be very optimistic if it falls to such a level (say 50p again) and then a bid comes in at a miserly 80p taking into account the falling performance and the debt! It wouldn't take Baugur too much to add from there and launch a hostile bid. Where I feel that they would break up the group and sell off the majority of the assets to a number of different supermarkets, thus not having concerns from the competitions committee and still making a profit to boot. There is considerable more downside now than up and I am no longer even entertaining a purchase here. Sorry BF!

The Flat One.

[old crow] 13/7/2004 15:39

Bigface
Be optimistic
We have arrived at the stage the lower she goes the better
and the greater the chance of a bid.
Hold on and be happy.

Keep Crowing

[m.t.glass] 13/7/2004 15:37

Except in my case I don't just mean at the moment - I mean over the past few years. Though there are certainly more downbet opportunities to choose from this month.

[quinn20] 13/7/2004 15:33

M.T.Glass >'I find I make more money from downbets than upbets'
dont we all at the moment, except when its Jarvis & you can bungee down then up!

[m.t.glass] 13/7/2004 15:21

"..Do you only report negatives MT Glass or do you try to offer a balanced view.."


I am totally biased, Bigface, as I'm sure everyone can tell ;o)

I have a downbet in place on this one at present, because for now I think it's going lower, and I post some of the reasons why that might be. Just as those who disagree, and think it's worth buying, post what they consider its positive traits. Generally there is a glut of optimistic (often over-optimistic) postings on any stock thread (just as brokers' 'buy' recommendations outweigh their 'sell' notes to a ridiculous degree) - so if balance is required my negative input should help ;o)

You will find positive postings from me on numerous threads at times. You may yet see positive views from me on this stock on the occasion when it looks worth buying.

But I used to survey buildings for a living and was paid to find faults, so I enjoy applying those long practised skills to the stockmarket! I have long positions and short ones, sometimes in the same stock at the same time. I find I make more money from downbets than upbets. My short bet on this one expires at the weekend. I might extend it, I might abort it, I might reverse it. Depends which way the wind blows.

I don't wish anyone to lose money - especially me. If I've called it wrong and the price soars, and holders make a profit, good luck to them!

mtg

[goodfella] 13/7/2004 14:57

Only 50000 shares between 79 and 50p

[kingdwg] 13/7/2004 14:48

Just tried to buy at 80p but got refused 3 times then that 100k went through and the best they'd give me was 81.11 so I passed.

[madgooner] 13/7/2004 14:46

King, not at present. BFP and I have a history!

I seem to recall discussing it with you as a possible pair to MTN, what a pity...

Goodfella's points hit home. No real underlying assets, and cash generation now impaired by capital spend. There is no apparent niche and TSCO are expanding rapidly into the Convenience arena.

Margin attrition hits hard when operational gearing is so high. High risk, but prospective PE is lowish to reflect. Strategic options are very limited, so you end up hoping for a bid.

Think I just made my decision! at least for the time being.

[spadam] 13/7/2004 14:44

Its a bit scary just bought 6,000 at 80.25. Where will it stop? Looking to sell at 82.25 for a little pocket money.

[kingdwg] 13/7/2004 14:37

Nice to see you on here Madgooner, are you holding?

[goodfella] 13/7/2004 14:26

Hmmm Ill stand corrected on that one, bit of selective posting by Astralmike.

Does not alter the financial position which is pretty dire

[madgooner] 13/7/2004 14:23

Since th eDirector's added to their stakes yesterday, I'd concur its not a 'bailing out'

[internet bubble] 13/7/2004 14:19

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Release of shares by the Trustees of The Big Food Group plc Employee Share
Ownership Plan to satisfy the vesting of share awards made under the 2001 Long
Term Incentive Plan . This constitutes a deemed disposal by the Executive
Directors stated in 2 above as beneficiaries of the Trust.


I have a feeling that the directors may not be 'bailing out' but this is attributed to the nature of a company running an Employee Share Ownership Plan.

I dont know for definite, maybe astral or goodfella do ?

[goodfella] 13/7/2004 14:14

Looks like Directors are bailing out as well.

This has bankruptcy or rights issue written all over it

[astralmike] 13/7/2004 14:03

Big Food Group PLC
12 July 2004



SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company

The Big Food Group plc


2. Name of director

All Executive Directors


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

All Executive Directors


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

Nutraco Nominees Limited


5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

N/A


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Release of shares by the Trustees of The Big Food Group plc Employee Share
Ownership Plan to satisfy the vesting of share awards made under the 2001 Long
Term Incentive Plan . This constitutes a deemed disposal by the Executive
Directors stated in 2 above as beneficiaries of the Trust.


7. Number of shares / amount of stock acquired

N/A


8. Percentage of issued class

N/A


9. Number of shares/amount of stock disposed

2,312,958 Ordinary Shares


10. Percentage of issued class

0.67%


11. Class of security

Ordinary


12. Price per share

86.25p


13. Date of transaction

12 July 2004


14. Date company informed

12 July 2004


15. Total holding following this notification

14,860,102


16. Total percentage holding of issued class following this notification

4.33%


If a director has been granted options by the company please complete the
following boxes.


17. Date of grant

N/A


18. Period during which or date on which exercisable

N/A


19. Total amount paid (if any) for grant of the option

N/A


20. Description of shares or debentures involved: class, number

N/A


21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise

N/A


22. Total number of shares or debentures over which options held following this
notification

N/A


23. Any additional information

N/A


24. Name of contact and telephone number for queries

Suzanne Chase - Company Secretary Tel No: 01753 888161


25. Name and signature of authorised company official responsible for making
this notification



Date of Notification

12 July 2004


The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


This information is provided by RNS
The company news service from the London Stock Exchange

[spadam] 13/7/2004 13:59

Glad I bailed out yesterday, nervous about rentering even 8p lower.