The pivot point with HRN was their failure to buy their original suppliers factory in China , it was made available to them and they declined , its been a downhill run since . It’s so annoying as it’s such a simple business if you concentrate on your core products , they are off on another tangent at the moment with gaming which sure is a big market , if you know what you are doing and given they don5 really know their own market currently this seems unlikely. |
AIM'S A high risk market but with all these firms delisting is it worth investing ? The small shareholders are left in limbo. Disgraceful. |
 Fundamentals - I don't think you would get 19.3p per share - I think you would get the equivalent of that in 'Castelnau' shares. I don't know how easy it would be to sell those and at what price. If you wanted to sell for cash you would have to use the 'matched bargain facility' but that would only work at a price a potential buyer would be willing to pay to take the shares off you.
So for me it's an AVOID.
"Firstly, a share exchange facility will be available from the day of Cancellation until 9 May 2025. Through this share exchange facility, Castelnau, a company to which Phoenix is investment manager and which is admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange, will acquire Ordinary Shares at a price of 19.3 pence per share (the "Sale Price"), being a price equal to the daily volume-weighted average price of the Ordinary Shares in the five day period ending on 12 March 2025, in an aggregate amount not exceeding the Exchange Threshold, in exchange for new Castelnau shares (the "Exchange Facility"). The Exchange Facility is designed to allow Shareholders to maintain an indirect interest in Hornby, reflecting their long-term interest and loyalty to the Company. The Circular contains comprehensive information on the Exchange Facility. The Exchange Facility will remain open until 9 May 2025 (being one month from the date of Cancellation)."
Secondly, for Shareholders not utilising the Exchange Facility, a matched bargain trading facility will be established by the Company with JP Jenkins (the "Matched Bargain Facility"), commencing the business day after the Exchange Facility expires and continuing for a minimum of 12 months. |
This left the rails a long time ago, as HOLTS made clear long ago.
Odd movement on the shares from first thing this morning but if they are willing to buy at 19.3p a few will be happy I guess. |
What a disaster . Basically get rid while you can |
Boo hoo choo choo |
Does this in the document
Firstly, a share exchange facility will be available from the day of Cancellation until 9 May 2025. Through this share exchange facility, Castelnau, a company to which Phoenix is investment manager and which is admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange, will acquire Ordinary Shares at a price of 19.3 pence per share (the "Sale Price"), being a price equal to the daily volume-weighted average price of the Ordinary Shares in the five day period ending on 12 March 2025,
Could this be seen as an offer to buy at 19.3p. Much higher than it is trading today. Time to Buy? :-)) |
Current CEO came from paperchase I believe and I don’t think their end was particularly bright . |
.
I don't hold these
But think it is a disgrace to treat small shareholders like this
If you hold these in an ISA, you become a forced seller straight away. You have no choice, as you cannot continue to hold the shares in an ISA going forward.
So you are now forced to sell at a much lower price than the shares were trading at before the delisting announcement.
This should not be allowed.
The company should at the very least, offer to buy shares from ISA holders at the market price before the delisting announcement.
Clearly the directors couldn't care less about these shareholders.
KARMA HAS A WAY OF CATCHING UP WITH PEOPLE LIKE THIS. |
69% voting in favour -
That is it -
what a shame - |
Or to put it in a product language - IT HAS HIT THE BUFFERS. Comiseration to all passengers. |
Another leaving the market! - |
It strikes me as a profit warning disguised under de listing , this business has been run appallingly for the last 18 years or so , differing sets of so called managements who had no clue or acceptance that they were running a simple niche business .
Still it’s always made me a turn , but what a mess . |
Will the price for the MBF be reflective of the inevitable sell off today? |
Better than I expected, the margins are peculiar for increase in direct sales though , should be a fair bit higher . |
Will be very surprised if they have had a good trading period . |
Site 🤦a94;️ |
With Frasers results and comments about the state of the retail market in the UK, along with other retailers saying that since the budget there has been a big decline in sales, it surely is going to impact the sales of Hornby on a like for like basis to 2023.
Outlook must be worrying for stakeholders in geberal impo.
DYOR |
Not many shares in left in free float that could be sold now.
Fraser with around 9% leves less than 10% in total. |
Ha, that didn’t last long . |
Not a good set of results worse than expected I feel hence the fall in share price and probably back sub 20p on them need some big improvement |
What a mess, debt increases by millions and that’s even with the £4.1 million drop in inventory.
Interest over £900k
What will today’s price be HOLTS?
Never know with this share which way the price goes. |
Well nicely in profit for you HOLTS well done, good timing. |
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