Psg Solutions Share Discussion Threads

[fido] 05/9/2008 20:02

Truffle,
There have been RNS`s about Mr Mortons Southwind fund making purchases.
Trawl back and you will find them.

[truffle] 05/9/2008 16:13

But there have been no announcements to confim this, if it is stake-building.

And if no announcements, how does anyone know it is Morton?

[fido] 05/9/2008 15:02

It certainly is in Bob Mortons`s case, he has increased his stake 4 times.

[truffle] 05/9/2008 13:06

How do we know it is accumulation?

[fido] 05/9/2008 12:53

Accumulation and a rising share price
What does that mean to you?

[masurenguy] 05/9/2008 09:37

Two transactions over 2 days - 699k & 270k - at the mid price of 67.5p. Could be agreed transactions between two large shareholders - the trades represent 2.5% and 1% respectively so IF they are both between the same two shareholders then there should be an RNS in due course.

[truffle] 05/9/2008 09:28

699,000 shares traded yesterday, and 270,000 to-day.
Anyone any views on what is going on?

[fido] 28/8/2008 13:59

Bob Mortons Southwind fund has now increased its stake in PGS FOUR TIMES.

We have a company buying back its shares.
A company that says trading is encouraging.
A company after aquisitions.
A company where there is stakebuilding.

This company will move into the housing recovery in a strong position and it looks very much like Mr Morton is positioning for that.

For filings with the FSA include the annex

For filings with issuer exclude the annex

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying PSG Solutions plc
issuer of existing shares to which voting
rights are attached:

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights Yes

An acquisition or disposal of financial instruments which may result No
in the acquisition of shares already issued to which voting rights
are attached

An event changing the breakdown of voting rights No

Other (please specify):______________ No

3. Full name of person(s) subject to Southwind Limited
notification obligation:

4. Full name of shareholder(s) (if
different from 3):

5. Date of transaction (and date on 27th August 2008
which the threshold is crossed or
reached if different):

6. Date on which issuer notified: 28th August 2008

7. Threshold(s) that is/are crossed or 17.15%
reached:

8: Notified Details

A: Voting rights attached to shares

Class/ Situation previous Resulting situation after the triggering
type of to the triggering transaction
shares transaction

If
possible
use ISIN
code



Number of Number of Number of Number of voting Percentage of

shares voting shares rights voting rights

rights
Direct Indirect Direct Indirect


Ordinary 4,219,519 4,219,519 4,382,672 4,382,672 - 17.15% -
Shares

B: Financial Instruments

Resulting situation after the triggering transaction

Type of Expiration Exercise/ No. of voting Percentage of
financial date conversion rights that may be voting rights
instrument period/date acquired (if the
instrument
exercised/
converted)


Total (A+B)

Number of voting rights Percentage of voting rights

4,382,672 17.15%

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:


Proxy Voting:

10. Name of proxy holder: Southwind Limited

11. Number of voting rights proxy
holder will cease to hold:

12. Date on which proxy holder will
cease to hold voting rights:

13. Additional information:

14 Contact name: Shirley Morgan

15. Contact telephone name: (44) 1481 724136

[truffle] 05/8/2008 15:45

And another 50,000 purchased to-day at 64p, making 100,000 totally yesterday and to-day. The regular re-purchases of the past few weeks will hopefully put some kind of floor on the share price going forward.

[truffle] 05/8/2008 11:51

Getting on for 5% of the shares now re-purchased and held in treasury.

[fido] 19/7/2008 13:33

Atticle from todays Independent:

[truffle] 10/7/2008 13:40

A week ago the company bought back shares at 51p, and to-day the shares are trading some 20% higher at a time when the rest of the market is caught in a hugely bearish downturn.

Anything going on, or is the share price at last beginning to reflect a better overall, and more realistic, outlook for the company?

[fido] 30/6/2008 23:01

"LONDON (Thomson Financial) - PSG Solutions Plc. reported a marginal decline in full-year pretax profit, adding the drop is mainly attributable to trading at its Audiotel business.

The provider of home property searches posted a pretax profit of 3.241 million pounds for the year to end-March compared with 3.522 million pounds in the year-ago period. Revenue from continuing operations were almost flat at 14.47 million pounds from 14.48 million pounds.

Current trading in the three months since the year end at PSG has been encouraging, however, the turbulence in the residential housing market makes it difficult to project forward with any degree of accuracy and Audiotel orders have remained buoyant, the company said."

Given the state of the market I think thats a pretty good result and bodes well for a market recovery. The company is talking new products and aquisitions given the fall out from the credit crunch when asset values are at their lowest. Its seems that PGS`s strong cash position is about to be put to good use.

[masurenguy] 30/6/2008 17:48

Results not particularly encouraging - just one 10K sell produced a 5% fall !

PSG SOLUTIONS PLC
FINAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2008

Highlights

* Profit before taxation £3.24million (2007 £3.52 million) PSG's HIPs and
property search business higher; downturn at Audiotel

* Profit achieved against housing downturn and introduction of HIPs

* The turbulence in the residential housing market makes it difficult to
project forward with any degree of accuracy

* With the fluid state of the market, there is now opportunity to make
acquisitions

* Audiotel orders have remained buoyant

* Net cash resources have increased during the year

Jonathan Mervis, Chairman said 'At present the dire state of home sales
industry has made trading difficult, particularly as there is no sign yet of
recovery. Opportunities however in such a market are bound to arise, and PSG
intends to avail itself of them.'

Chairman's Statement

It is pleasing to report a profit before tax of £3,240,738 compared with a
profit of £3,522,646 last year. Turnover for the year was £14,467,419 compared
with £14,568,255 last year. Encouragingly the Group's main business PSG
Franchising Limited ('PSG') marginally increased its pre-tax profit, whilst the
8% drop in pre-tax profits is attributable in the main to trading at Audiotel.

The achievement of these results must be viewed against the backdrop of two
recent material changes in the market place of the Group's main business; both
of which occurred in the final quarter. The full introduction in January 2008
of mandatory Home Information Packs (HIPS) switched a substantial proportion of
PSG's traditional local search market business from established franchisee
relationships with the home purchaser's solicitor to the estate agents whose
HIPs requirement is driven by the seller. The credit crunch, which during the
year began to affect the residential market, has resulted in the
well-publicised reductions in property values and mortgage availability. This
has lead to a drop in home sales volumes.

Paradoxically these events are likely to generate new opportunities in the
continuing turbulent market utilising PSG's financial strength and ability to
deliver a national solution through the ubiquitous local presence of its
franchisee network.

The Group Balance Sheet continues to strengthen with net cash at the year end
of £2,254,877 (2007: £1,242,791) giving the Group a total cash resource of over
£5,000,000.

At £273,569 (2007: £523,671) Audiotel's operating profit fell short of
expectations Moore & Buckle made a steady £387,284.

A breakdown of pre-tax profit between the Group's activities for the years
ended 31 March 2008 and 2007 are:




2008 2007

£'000 £'000

PSG Franchising 3,075 3,041

Audiotel 274 524

Moore & Buckle 387 407

Paterson Financial Services 273 315

4,009 4,287

Less

Head Office costs (798) (827)

3,211 3,460

Add

Finance income 58 4

3,269 3,464

Exceptional (expenses)/credits (28) 58

Total pre-tax profit 3,241 3,522

[truffle] 23/6/2008 10:25

Assuming PGS results are due out at approx. the same time as last year, then they should be imminent.

Is there a hidden gem in PGS?
PGS certainly had a stake in Avatar Systems Inc., but not sure how much.

Looking at Avatar's website, their results for 2007, announced in April 08, were as follows in summary,
Revenues $4.918 million (v. $3.655 million in 2006)
Net Income $354,000 (v. $305,000 in 2006).

In May 08, they announced first quarter results as
Revenues $1.305 million (v. $966,000 in 2007)
Net income $153,000 (v. loss of $5,000 in 2007).

Anyone got any views/comments on this?

[masurenguy] 16/6/2008 18:35

Citywire
Property review calls for HIPs to be binned
By Iain Martin, 16 June 2008

Estate agents should be regulated and home information packs should be binned, according to a review of the property market commissioned by the RICS. The review by Sir Bryan Carsberg said regulation of the residential property market was not up to scratch and called for a new regulator with authority over developers, landlords and estate agents.

The government's much criticized and delayed HIPs scheme should be optional according to Carsberg, former director general of Oftel and the Office of Fair Trading.

● Apply universal standards for everyone working with residential property.

● Set-up a property ombudsman to resolve disputes & pay consumers compensation

● Simplify property laws.

Carsberg said the greatest problem with the current residential property market was the build-up of 'piecemeal' legislation over the years. 'This has resulted in a lack of clear, consistent understanding on the part of consumers and a patchy, badly understood and, in parts, unnecessary burden of red tape for those offering property services,' he said.

The Carsberg review of residential property was commissioned in July 2007 by Rics, the National Association of Estate Agents and the Association of Residential Letting Agents. The aim of the review was to develop a consistent set of standards for the residential property market. This new regulator would impose a minimum level of qualifications on the residential property industry and adopt the OFT's powers to ban estate agents, said Carsberg.

[pictureframe] 16/6/2008 09:19

yes they do - but there are different types if assessors required.

CEA - commercial
DEA - domestic
??? - on completion (new builds , not sure of intitials)

My understanding is PSG provide Hips pack only

[fido] 16/6/2008 09:07

From Oct 1st energy rating certs become compulsory.

[pictureframe] 16/6/2008 08:21

I am a part time domestic energy assessor and can tell you this is little work out there. Many DEA's are now looking to supply HIPS pack directly and therefore cut out panels such as PSG. The results will be dire imo.

[truffle] 16/6/2008 08:17

If the housing market is as dire as it is being said, and the 'worst for 30 years' as is also being said, then presumably to the extent that HIPS was going to be beneficial for PGS the current housing market conditions are actually very bad news.
If the year end figures are due by the end of this month then we will soon know one way or the other.

[fido] 28/5/2008 14:48

Truffle,
I do not need to tell you that every share to do with the housing market has been completly trashed over recent times. In comparison PGS bar its recent drop has been rock solid. If you look back at the PGS share price you will see that the share price was dropped prior to stakebuilders upping their stake before and the same is now happening again now.
As for timing anyone who reads my posts will note that I have said that with interest rates on the way down it is only a question of time before the housing market recovers and at that time the market will be looking for the stronger players that will benifit from the upturn.
It is my belief that PGS is one such company if it has not been bid for by that time.
As for shareholders, given the complete lack of trades I would say that there are not that many of them as liquidity is almost zero.
PGS is all about the the stakes of the largest investors. Those investors have not sold one single share and have only increased their stakes over the last few months.
As I said, we are at opposite sides of the spectrum here so I will waste no more of our time with further debate.

[truffle] 28/5/2008 10:01

Fido,

It is possible, perhaps even probable, that the company's performance will turn out okay in the end, but the fact is that over the past 2/3 years you have consistently pursued a bullish line on these shares and at the very least have got the timing completely wrong, which you never seem able to acknowledge.

It may still take another 2/3 years to turn this company round but in the meantime long-suffering shareholders could have used their money better elsewhere.

I genuinely hope this company comes good eventually as I need to recover my own investment but in the meantime you might have the decency to acknowledge that your timing on optimistic scenarios has been completely awry.
Otherwise people just wonder why you are making the comments you do.

[fido] 28/5/2008 09:52

Truffle,
That is your view and you are entitled to it.
My view is that we are seeing a steady build up of the stakes of the main shareholders.
That suggests to me a bright future for PGS or even the possibility of a bid.

I am not going to discuss it further because we both have opposing views.

Time will tell .

[truffle] 28/5/2008 09:42

Fido,

I really don't think anyone can suggest that a %25 fall in the share price has been engineered by MMs to allow a trade to go through. That is not only gross manipulation of the share price, but is almost certainly going to attract the ire of shareholders.

There have been a number of large trades going through during the past 6-12 months, but at the end of the day the share price has remained under pressure and has effectively collapsed during the past month.

When you say 'make of it what you will', my reading is that the company is not doing well and the results will not be what shareholders have been hoping for.

[fido] 28/5/2008 09:01

Truffle,
If you want my opinion, the share price has been moved down by the MM`s to allow this transfere to go through. During the whole time of this so called fall there has been virtually no shares traded. During the last few months there has only really been a few trades of note and they have been top ups by Bob Morton and VT.
This share price drop has not been because of sales because there hasn`t been any bar a couple of very small ones. ALL the larger trades have been top ups.

Make of it what you will.