Orbis Share Discussion Threads

[justjus] 18/8/2003 08:17

I've never seen a share rise with a re-organisation, it may rise some time after, but mostly they fall just after re-org. I'll wait before doing any buying!

The fall today confirms my beliefs...

[paulisi] 17/8/2003 19:11

Expecting some significant share movement this week- with the EGM on wednesday and the likelyhood of the proposals being approved, the share should be set for a rise. Unfortunately the confusion over the share re-organisation may cause the average punter to be a little quieter until a proper perspective can be gained. The new shares are set to be re-admitted to the AIM on 24th September.
The bottom line figures should be much improved once the debt payments are removed, as per the banking agreement for the next two years. I would expect with re-organisation and better management, which the company are undertaking at the moment that the comany could move into profitabililty within the next one to two years.
If the company continue to focus on its profitable core businesses and reduce its cost basis as the statement in the accounts promises then the company could well turn itself round.
IMHO its a share to hold onto for the next 12-18 months.

[holdontight] 15/8/2003 12:19

SOME DECENT BUYS AGAIN TODAY

[holdontight] 14/8/2003 23:08

someone just bought 200000

[hillbrown] 14/8/2003 16:21

Holdon

s h a r e s had a half a page of background/padding leading to the recommendation to vote in favour.

Hill

[holdontight] 14/8/2003 10:57

lots of sells again, but price steady......someone sees value, or is accumulating

[holdontight] 14/8/2003 10:37

DOES IT SAY ANYTHING ELSE

[hillbrown] 14/8/2003 10:32

I agree with you Holdon.

s h a r e s magazine today advises readers to vote in favour of the proposals or face ending up with nothing. It needs 75% votes in favour. No problem.

[holdontight] 13/8/2003 18:08

Can't make any sense of it - but the company DOES have a future if you believe all the statements issued and is only priced so low due to the question marks there were about this.
As per my earlier post, should be 15p

[hillbrown] 13/8/2003 16:43

Phone the advisors on the announcement for a full explanation.

[day_dreamer] 13/8/2003 15:48

It's a protected sell and I would say it was with WINS,
they were .3p lower than other mm's on the offer so they
must have had a seller but it looks to have been cleared
as they rose their quote late in the day.
I'm interested in a small punt in these but would like some
response to my questions and todays news first please.

Gravy

[spiritworld] 13/8/2003 15:32

What a large sell so late in the day

[day_dreamer] 13/8/2003 15:05

News just out : What do you make of this ??


On 28 July 2003, the Company announced a proposed reduction in its existing
senior facilities, a proposed issue of convertible preference shares and a
proposed share re-organisation, details of which were contained in a circular to
shareholders of the same date. As part of these arrangements, the Company
proposes to repurchase approximately 160,083,585,100 Deferred Shares which will
arise as a result of the deferral of existing ordinary shares and the deferral
of fractional entitlements to consolidated ordinary shares as part of the share
reorganisation. The exact number of Deferred Shares to be repurchased will be
determined on the Record Date for the share reorganisation, being 5.30 p.m. on
19 August 2003. The consideration for the purchase of these Deferred Shares will
be, in aggregate, the sum of #1.



Pursuant to the provisions of the Companies Act 1985, a company may purchase its
own shares by using the proceeds of a fresh issue of shares. As a result, the
Company has issued 1 Ordinary Share of 10p in the capital of the Company to the
Company Secretary of the Company, who has subscribed in cash for that Ordinary
Share for the aggregate sum of #1.00, representing a premium of 90p per Ordinary
Share issued. The proceeds of this issue will be used to pay the consideration
for the repurchase of the Deferred Shares. The Company has applied to the UK
Listing Authority for the Ordinary Share being issued to be admitted to the
Official Listing of the London Stock Exchange. It is anticipated that this will
become effective on Friday 15 August 2003.



The repurchase of the Deferred Shares is conditional upon the passing of
resolutions 1 and 2 set out in a Notice of Extraordinary General Meeting
included in the circular sent to Shareholders on 28 July 2003.

[day_dreamer] 13/8/2003 14:38

Just read their last statement !!!

Can somebody with a strong grasp of accounts give me
their view on Obs, can this company be turned around ??

Gravy

[day_dreamer] 13/8/2003 14:30

The 500k's look to be a rollover and the 250k is a buy.

L2 is 4 bid 1 offer at 1.5-1.75p with next offer 2p.

Gravy

[spiritworld] 13/8/2003 13:55

What are the 2 x 500k's buys or sells?

[nick] 12/8/2003 17:58

Thanks for the summary Holdontight. The 28 July results didn't exactly make it clear to understand. The bank arrangements gave me enough confidence to pick up a few the other day and wait and see.

[richardbonny] 12/8/2003 16:59

spiritworld - I think the refinancing deal is not understood. People think this is another TWT or MONI where shareholders end up up with 0.5% whereas actually shareholders get to keep 100% of the equity in Orbis. But I don't think it was clever to do a share reduction exercise at the same time as the refinancing - shareholders will get 8% of the current number of shares but still have the same proportionate holding in Orbis... sounds confusing? I think that's the problem. Maybe it will pick up after 20th August. I think it is extremely undervalued in relation to cash flow.

[holdontight] 12/8/2003 15:10

Don't know a great dealabout OBS, but from what I have seen, looks significantly undervalued at current levels. With the financial restructuring/future funding secured, annual sales of almost 50mill, annual profit of 5mill and cashflow of +9mill, looks a steal to me. Assuming 1 x sales value, and shareholders receiving 10% for first 15million, then 67% for anything more, that equates to 25mill, or about 15p/share !!!!!!! And that's still based on only 1 x current sales, which is a low rating and you would hope sales would increase as market overall improves.

[pictureframe] 12/8/2003 14:50

lack of interest. people bought in at 2p expecting it to carry on up fed up of waiting for their fast buck

[spiritworld] 12/8/2003 12:43

Why all the sells?

[pictureframe] 12/8/2003 09:03

wait for 1.5, it will get there

[hillbrown] 08/8/2003 18:48

Next week? Just another steady week.

I'll wait for the egm (and likely some sort of statement to go with it)
before considering its trading health.

In a financial engineering sense its parts will be receiving extensions and replacements whilst its heart continues to pump excellent cashflow.

As a widow its having its prospects improved to find a richer suitor.