Instore Share Discussion Threads

[lh2375] 02/3/2006 09:34

Neilr,

they do, look at Phil Green at BHS

[neilrr] 02/3/2006 09:25

Or, you knew how to fix a co. w/ an unloved share price which had at (at best) lackluster mgmt. for the last few yrs.

Buy it cheap, fix it up, flog it.

People do it w/ cars, houses, antiques, why not companies?

[adamjacobson] 01/3/2006 14:34

Pardon me for sounding ignorant but surely you would only take a company private if you were a well run company, but with an unloved share price?

[wunderbar] 01/3/2006 13:02

Neil, better start a rumour then or we'll be waiting forever for good news. Won't be seeing 60p for quite some time so I'm happy for Tradegro to take it private. They might as well do it while the stock is cheap. After five miserable years of holding this share I'd jump at the chance of being shot of it.

[neilrr] 28/2/2006 23:07

When Tradegro gets Monro's shares they'll hold more than 64% of INST stock. Is this going private?

I've noticed with tightly held co.'s the share price can be very sensitive & rocket on rumour or good news.

[mjb6] 28/2/2006 22:08

apparently Trvor Coats is someone who is very good at building tremendous growth in the shareholder value......

[monkey66] 28/2/2006 20:54

Best news we've had for ages. Monro was a waste of space and money. He was all talk and no action. I'm very pleased he's gone. I was sick to death of his excuses. Is this Coates any good? I've never heard of him before.

[yotter] 28/2/2006 20:16

neilrr,

The retail sector is about to experience utter carnage (the consumers have been borrowing far too much and a good number of them are unfortunately losing their jobs).

I'm sure that Mr Coates is very talented, he'll need to be, INST isn't a brilliant retailer.

I'll be adding to my short on opportune spikes.

Regards.

[wunderbar] 28/2/2006 15:20

BREAKING NEWS - Angus Monro has resigned.

RNS - 15:14

The Board of Instore plc announces that Angus Monro, Chief Executive, has
resigned. He is replaced as CEO with immediate effect by Trevor Coates, 58,
formerly CEO of Australian based Foodland Associated Ltd and, between 1988 and 2000, managing director of Aldi (UK).


Angus Monro currently holds 21,698,288 ordinary shares in the company,
equivalent to approximately 9.5% of the total issued equity of Instore plc,
which, under the terms of his contract, will be acquired by Tradegro Limited.
Tradegro Limited currently holds 124,953,205 shares, equivalent to 54.70% of the
total issued share capital.

Christo Wiese, chairman of Instore, said:

'Angus has revitalised Instore over the last three years, creating a modern
retail business with a trading format which has demonstrated its ability to
compete in the crowded value market. With the Instore format now established,
Angus has decided that this is an appropriate moment to step down as Chief
Executive. We would like to thank Angus for his contribution and we wish him
well for the future.



Trevor Coates has extensive experience in retailing and the value market, in the
UK and overseas. He is joining us immediately and will bring his considerable
energy and experience to Instore. We are delighted to welcome him to the Board.'

Trevor Coates said:

'I am very excited by the opportunity to take over as CEO of Instore, and lead
the group and the team through the next phase of its growth and development.'

[wunderbar] 28/2/2006 11:43

Well it looks like another miserable day for Instore. The market obviously views this stock as a lost cause. As a long suffering shareholder I'm bitterly disappointed with Monros performance to date. He was seen as the man to turn things around! Unfortunately his Instore format doesn't seem to be working. His strategy reminds me of BRJK's purchase of The Famous Brunswick Warehouse a few years back. They paid £20m+ for what turned out to be a huge white elephant, subsequently dumping it within 2-3 years. This companys history shows they have an excellent track record when it comes to wasting money.

Many retail experts are now questioning Monro's turnaround plan. Like for like sales are stagnant and profits are abysmal. In fact everytime INST updates the market it's often accompanied by a profit warning!
Then there's our lovely new distribution centre (another white elephant?). This was supposed to bolster profits, instead it has decimated them! As things stand INST is a laughing stock, if you'll excuse the pun. Like most others on this bb I'm completely disillusioned with Angus Monro. His five year turnaround plan has slowly crumbled away, just like the shareprice, just like my hopes of ever seeing my 60p purchase price again.

I've had enough of the endless excuses dished out. I think most of us have. You've only got to look todays shareprice of 39.25p!!!
In May 2004, INST launched a rights issue (at a heavily discounted 50p!) to raise £25.4m to grow the business. This meant issuing an extra 50m shares, effectively diluting existing holdings by 22%. Which means todays shareprice actually equates to 31p. Why do I mention this? Because when Monro took over it was 34p! And what benefits have we gained from him and his £25.4m fund raising excercise? Err, absoloutely nothing.
I've calculated that every penny drop below 44p is wiping £218k off Angus Monro's investment. This means he's currently losing £1.2m. Now he knows what it feels like to hold a turkey!

Personally I'd like to see Tragegro and Monro take the company private. Between them they own nearly 65% of the company. If they offer me 60p a share you won't see me for dust!

[neilrr] 27/2/2006 16:23

How many years has Angus been paid £5,000 per week (+ benefits, pension, expenses, car & Christ only knows what else) to run this into the ground?

Nice work if you can get it!

[monkey66] 21/2/2006 15:28

Typical. Day I go away for week break they release second profit warning. What a welcome back. Monro should fall on his sword. He has made too many blunders. Its time for a shareholder rebellion. Get him out before he brings the whole company down. Get him to return his £300k salary because he is not worth a penny of it.

[neilrr] 21/2/2006 13:42

Saw the spike & thought "Has AM quit/been canned?" Alas, not yet.

[wunderbar] 14/2/2006 11:13

KD, you reckon plenty of big institutions will now start offloading their holdings! What institutions? I know of only one with a major stake and that's Fidelity with 7% (16 million shares). No-one else has a notifiable interest except Angus Monro (10%) and Tradegro (54%). However, you could be right about the shareprice dropping further, though I think this will be down to negative sentiment.

[meenan] 14/2/2006 08:42

Talk about swings and roundabouts..Inst down 10p last night, now MFI up 10p..I don't know whether to laugh or cry!!

[kdwilson] 14/2/2006 08:37

this share price will be 35p before the end of the month - plenty of big institutions will be lurking in the wings to get shot of their holdings which will see them trickle down gradually to a level where the risk/reward stacks up for a buyer...and this is probably in the low 30s!

[neilrr] 13/2/2006 18:01

Angus is history.

Take a hike bud, you are completely discredited.