Mallett Share Discussion Threads

[spob] 28/3/2013 08:31

Maybe a bit more than 3m but there will be conversion costs and relocation costs for hatfields.

[spob] 28/3/2013 08:29

Hatfields Restoration
Scholars House
49 Clapham High Street
LONDON
SW4 7TL


How much is it worth as flats? 3m..?

And Hatfields, a Mallett subsiduary, will have to relocate somewhere at a cost but where too ?

[baner] 28/3/2013 08:27

Clapham is VERY material in relation to the market cap of mallett plc. Possibly 30-40% of the market cap.

[baner] 28/3/2013 08:26

Masterpiece is worth next to nothing! But the clapham site could well be 4m unless the board throw this away as with bond st.huge potential !

[orinocor] 28/3/2013 07:57

Not good at all. The Masterpiece fair profit is down to £50,000. Recall the guru on the other thread thinks this is worth at least £7.5M.

[orinocor] 28/3/2013 07:54

Masterpiece London Limited put on its third fair at the end of June at the Royal Hospital, London. It was again regarded as a successful fair and Mallett's share of the profit was £50,000 (2011 - £86,000). No significant change in the format of the fair is expected for 2013.

[shanklin] 28/3/2013 07:51

Bit surprised MAE didn't see fit to mention the planning permission at Clapham. Do they really believe its not material?

[playful] 27/3/2013 23:44

I think we are due a board change announcement shortly

[baner] 27/3/2013 20:21

INDEED!!

HAVE YOU NOTICED THERE WAS A WEINSTOCK LADY EXHIBITING AT ELY HOUSE/MALLETT RECENTLY - DO THEY REGARD THIS AS A FAMILY COMPANY? THE STUFF LOOKED ABSOLUTELY UGLY AND "NON-MALLETT" TO ME......BUT MAYBE THAT IS THE PRICE YOU HAVE TO PAY TO GET THEIR SUPPORT...........

[rainmaker] 27/3/2013 19:39

Yes Baner...................very long overdue.It will be interesting to discover.

[baner] 27/3/2013 17:47

maybe some long overdue changes at the board level?

[rainmaker] 27/3/2013 15:21

71/75p is something happening?

[rainmaker] 26/3/2013 21:09

Hi Callumross-Great question,I was thinking exactly the same thing.Obviously Mallett almost finished the first quarter so maybe, as I expect, trading has picked up. IMHO Masterpiece, in which Mallett own 23.75% will make a loss this year since approx 90% of their revenue comes from exhibitor stands-down from 170 last year to 134 this. Nevertheless their stake in Mallett is valuable.Mallett had their best returns there than for any exhibition since the turn of the millennium-think about that when they exhibit at all the top exhibitions, including TEFAT just about to start inm Masstricht.

I've long been a bull of this share as a strong business franchise,trading at less than it's minimum liquidation level there should be plenty of upside from current levels.

If there is to be unexpected positive news then I suggest one of the following-

1) Sale of freehold Property at 49*(edit 15.34, 31/3/13) Clapham High Street for around £2.5mln

2) News of big ticket sales in China, now the worlds largest art and antiques market.Mallett embarked upon a sales drive there last year, appointing a Hong Kong based agent and have made several trips there. This should be an excellent market for them with great margins on such sales since they lost two major competitors in 2009.

3)Sale of part or all of Mallett's stake in Masterpiece

regards

[callumross] 26/3/2013 16:37

Ticking up despite results due in next couple of days which presumably will be downbeat based on the IMS. Strange.

[rainmaker] 05/3/2013 15:19

Now that I've had further time to reflect......... Or maybe he knows or has been reassured to his satisfaction there is something good just round the corner.

regards

[playful] 05/3/2013 13:43

He might have forced the management team to concede something, perhaps a seat on the board?

[rainmaker] 05/3/2013 12:28

Not quite sure what to make of this-

TIDMMAE
RNS Number : 2681Z
Mallett PLC
05 March 2013
Mallett PLC
5 March 2013
Mallett PLC
Withdrawal of Requisition for General Meeting
Further to the announcement released by the Company on 14 February 2013, Mallett PLC ("Mallett" or the "Company") announces that following discussions with Mr Gyllenhammar, it has received a notice from Chase Nominees Limited, at the request of Mr Peter Gyllenhammar, withdrawing the requisition of a General Meeting of the Company.
For further information please contact:
Giles Hutchinson Smith, Chief Executive 020 7499 7411
Michael Smyth-Osbourne, Finance Director 020 7499 7411 This information is provided by RNS
The company news service from the London Stock Exchange

[playful] 04/3/2013 21:39

I am a shareholder in LG and also see tremendous potential here, it's all a question of how patient you are once you have the correct person at the wheel..

[orinocor] 28/2/2013 11:52

The reason for the drop is obviously the exhibitors don't make any money.
Rainmaker is a very inexperienced investor who has no idea of risk in my opinion. He's the person who thinks Masterpiece is worth £30M even though it has no track record to speak of and is barely profitable. Takes all sorts I suppose.

[orinocor] 28/2/2013 11:49

Rainmaker
28 Feb'13 - 11:09 - 378 of 378 0 0

Thanks Mr T well spotted, I also counted 134 but the publicity blurb says 150. For an exhibition where there was supposed to be 300 applications for exhibitor stands in 2012 this disappointing and I wonder how Mallett will explain this.To put this in context, there were 112 exhibitors at the inaugural event in 2010, 152 the year after and 170 in last year. Now we know why there was such a delay in releasing the list of exhibitors since it's normally appears in December.Why the drop?

regards

[rainmaker] 28/2/2013 11:09

Thanks Mr T well spotted, I also counted 134 but the publicity blurb says 150. For an exhibition where there was supposed to be 300 applications for exhibitor stands in 2012 this disappointing and I wonder how Mallett will explain this.To put this in context, there were 112 exhibitors at the inaugural event in 2010, 152 the year after and 170 in last year. Now we know why there was such a delay in releasing the list of exhibitors since it's normally appears in December.Why the drop?

regards

[mr. t] 28/2/2013 10:53

Masterpiece's exhibitors are now displayed:



I make 134 listed. There was also a bit of PR about it recently:



T.

[rainmaker] 19/2/2013 13:23

IMHO a great opportunity to buy into a true bargain at ground floor level.

AIMHO, DYOR

regards

[rainmaker] 19/2/2013 12:14

Thanks Poacher for adding that in the interest of balance and it's also a reasonable comment. I've never been a shareholder in Leeds Group(although plenty have encouraged me to buy).From memory, the Leeds Group share price has done nothing for 6 years until it recently rose 20% in a day.


It seems that Peter Gyllenhammar has a penchant for manufacturing businesses with plenty of tangible fixed assets. If I were to advise then I would encourage him to look for business franchises with solid balance sheets with strength where it matters in liquid assets not in tangible hard-to-realise-if-there's-a-problem fixed assets.

Comparing Mallett with Leeds Group is like comparing chalk with cheese. Mallett's in a service industry and Leeds Group in manufacturing and unlike LG does not have onerous capital expenditure commitments to remain competitive. Furthermore Mallett has valuable intangible fixed assets ie Brand, knowledge base, 165 year old archive history.Whereas LG is a marginal business in a commodity type price competive industry,Mallett does need to compete on price and with the demise of two major competitors in 2009 has a virtual monopoly at the very top of the market.

The problem that Mallett has experienced over the last 4 years is one of poor demand due a cyclical downturn in 2008. After the business had clearly stabilised,I'm very confident that the upturn has already started with Mallett's best returns at any fair(they exhibit at all the major world fairs) for more than a DECADE at Masterpiece last June/July but then there was a blip with a profits warning that was blamed on hurricance Sandy

DYOR, AIMHO

regards

[poacher45] 19/2/2013 09:55

Just to add a note of caution. Mr Gyllenhammar has been a director of Leeds Group with a large stake in the company. Leeds group have never paid a dividend not tax efficent.The group is also no nearer to reaching its potential.