| Share Name |
Share Symbol |
Market |
Type |
Share ISIN |
Share Description |
| Game Group |
LSE:GMG |
London |
Ordinary Share |
GB0007360158 |
ORD 5P |
| |
Price Change |
% Change |
Share Price |
Shares Traded |
Last Trade |
| |
0.00 |
0.0% |
2.39 |
0.00 |
00:00:00 |
| Bid Price |
Offer Price |
High Price |
Low Price |
Open Price |
|
|
|
|
|
|
| Industry Sector |
Turnover (m) |
Profit (m) |
EPS - Basic |
PE Ratio |
Market Cap (m) |
|
General Retailers
|
1,625.03
|
5.02
|
4.51
|
0.5
|
8
|
| Last Trade Time |
Trade Type |
Trade Size |
Trade Price |
Currency |
| - |
O |
0 |
2.39 |
GBX |
Real-Time news about Game Group (London Stock Exchange): 0 recent articles
| Trade Time |
Trade Price |
Trade Size |
Trade Value |
Trade Type |
No Trades
| Date | Subject |
|---|
04/9/2012
12:16 | justthemoney: I've filed my self assessment on-line this week, scanned all contract notes related to GMG purchases and claimed the lot as the CGT loss. Added a note explaining that the shares were cancelled at 0p. Left the rest to the taxman, they know the case well.
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11/7/2012
05:39 | justthemoney: After more than a decade of investing (mostly successful) in UK stock market, I've pulled out completely. If the thieves could do it (and get away with it) to GMG, they can do it to any other stock. If you want steady investment, brick and mortar is the way to go, if you want trading, it has to be FOREX. Don't think we'll get anything back from administrators. The way they treated shareholders (supposedly the owners of the company) is appalling.
I've just bought 2 nearly new cars, the money that usually went into stocks. Much better feeling. Next month going to talk to HMRC about the tax return and the status of GMG shares. All the best for the future.
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28/3/2012
16:53 | bobsidian: "They also said they had cash of 120 million which as we know they LIED as they could of paid off a lot of their debt and would not have gone into admin."
GMG would indeed have had cash on hand at that time but, as others have already pointed out, that cash would have been used to pay their suppliers in accordance with the normal terms of trade. A vast majority, if not all retailers, have cash on hand after the Christmas trading period but such a position is only temporary in the context of the ebb and flow of cash around a business.
One of the key factors impacting the cash flow of GMG was the subsequent reduction in overdraft facilities made available by their financiers. That would doubtless have constrained their ability to finance day-to-day operations at a time when cash generated from sales would have been at their lowest.
Nevertheless you cannot help but be left with the impression that GMG has been "stolen" from the shareholders by its financiers. But the management of GMG seem to have been too slow to react. When key members of the old management departed the new management should have involved themselves in a capital raising exercise at that time to finance the early closure of stores to rationalise the business. Had they done so GMG may have been more in control of their own destiny.
It will be interesting to see just how GMG is carved up whilst in administration and see who ultimately are the beneficiaries of that process.
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21/3/2012
08:21 | phil1969: The investors to feel sorry for are the ones left holding from much higher levels.
New investors have had the opportunity to get out over the last 2 months with minimal losses compared with the losses long term investors were locked into.
There has been enough coverage on GMG's plight to know the risks and trading GMG on this news made it very easy to make a short term profit.
I sold 80% of my holding on Friday as too risky to hold over the weekend and didn't buy back in on Monday, the profit made trading GMG put cash in account and the 20% held were free.
I'm sure most of the stock traded over the last 2 months has been along the same lines.
Fingers crossed the new plan of action and streamlining will keep Game on the high street even if it is on a smaller scale.
My heart felt wishes go out to all Game employees and there's still hope regardless of GMG's stock market position.
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20/3/2012
11:09 | justthemoney: GMG has many assets. Supposing they go into admin, assets would be sold. Depending on how far the "advisers" discount them, there might be more left for shareholders than the current share price.
Either this scenario or forthcoming rescue package, or outright bid is holding the share price where it is. IMO, according to the management it should be 0p.
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20/3/2012
08:59 | rossannan: There will be a definitive RNS at some point in the next few days - either GMG will be suspended with 0p in prospect for shareholders or a white knight will appear with something to offer them - place your bets. In the meantime, it is hard to see why the share price would move significantly up or down from here. I think that we have been through the volatile phase and that the market is now looking for more than rumours, postitive or negative.
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15/3/2012
20:10 | phil1969: There is more to the rescue than you think.
The share price is still priced for a pre-pack but going into administration is still a very expensive affair which will run up as much in fee's as it would just paying paying off the liabilities of the closed stores.
Posters keep writing of the £400m lease liability as if GMG are not getting a return for this £400m expenditure over the next 18 months. You forget there is a very large percentage of the 1200 stores turning a profit.
Its only the stores they want to close which causes the dent on the bottom line.
D4E is not a problem at these levels. I would be happy for a buyer to be given 80% of GMG stock in return for no debt, working capital and suppliers paid off and back on board.
This would put 1,700m shares in circulation and maintaining current market cap would mean an share price of just 0.68p. But with debts cleared and suppliers back on board and 2013 promising the upswing in the console cycle, the market cap would rise significantly from its current £12m
Market cap could easily rise to £120m if these conditions were met giving a new share price of 7p+
Don't run scared if D4E is suggested, it may be the best option all round for a debt free business.
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15/3/2012
11:18 | bobsidian: I can just imagine the nature of the approach by OpCapita to the lenders of GMG. "We will offer you 30p in the £ for your debt which will be about 20p in the £ more than you will get if GMG enter administration." The response by the current lenders will be a snort of haughty derision followed by the comment of "We would prefer to take a complete loss on our lending exposure." The politics of finance particularly when a supposed offer comes in so close to a possible administration deadline.
And it is amazing how often a Walmart rumour is trotted out when a retailer appears to be either in trouble or appears to be cheap enough to generate bid interest. I recall TSCO were mentioned as a possible target back in 2003, MKS in 2008 and more recently HOME throughout 2011. It seems to be the City "go to" rumour to generate interest in a share in full knowledge that Walmart will not respond.
If there was any truth in the 12p rumour the share price of GMG would already be well en route to that price. Instead there is heavy selling going on as private investors are drawn in to the prospect of a supposed 250% upside from current levels. Almost criminal. But the cautious private investor scales back their holdings as the share price grinds higher.
Good luck to all.
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15/3/2012
07:31 | justthemoney: As for the assets the following domain names alone are worth at least 12p/share.
www.game.co.uk/
www.gamestation.co.uk
www.gameplay.co.uk/
It is another matter that the gang with their "advisers" may write it down as nil.
Why morons don't realise (probably because they are morons), that confidence factor in times like these is what drives the share price rather than the actual real value of tangible assets. If the confidence is low as the case is, the value of the assets is written down and vice versa. Hence the reason for ridiculously low or high share prices.
It should be obvious to everyone that this was all engineered. The company still turns over £1.5b and anyone with a bit of skill and a good will can extract profit from it. The whole episode is about taking control of the assets just before the upturn.
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14/3/2012
21:10 | justthemoney: At times like these good fundamentals/assets have little to do with the share price. The gang has done an enormous amount of damage in the past 3 weeks. It is quite frankly nothing short of criminal.
When will morons learn that...never.
The share price was driven this low by the gang who messed up pretty much everything that could've been messed up. The GAME market is there and will remain so, so will be a need for the high street presence. If the gang win this round, shareholders get wiped-out one way or another. GAME brand will stay on whatever happens.
So the argument is not whether the GAME will survive, but rather in what shape and form and if the shareholders get anything for it.
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Game share price data is direct from the London Stock Exchange
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