Ross Share Discussion Threads

[john148] 16/4/2008 20:51

DaveVanian.In the time I have held this stock, must be 10yrs+, I think they've had a couple of rights issues. Fortunately,the last one I bypassed, as it was clear that we were just throwing good money after bad.I'm surprised investment magazines bother to cover shares like these as it seems clear that this share is never likely to deliver.I shall hold on in the event that one day I may get an opportunity to go to one of their AGM's and give them what for.Although, it's likely the gates will be closed when I get down there.

[davevanian] 16/4/2008 07:38

I've e-mailed Ross a few times and never had a response. I'm planning to sell Ross as a tax write off against gains else where this year, in total i've lost abourt £10K with this useless share.
Grande sound like a right shower of crooks when you read about their exploits elsewhere. I'm sure there is method in their madness for having Ross ...but i don't think shareholders will ever benefit.
We were the real mugs buying into the Rights issue all those years ago ...

[john148] 16/4/2008 07:14

As tiredbroker says, there is a history to Grande holdings dating back to 1990's,something which I only spotted a few nights ago.Also, if they were serious about using Ross as a vehicle to roll out their Sansui products, they would have done this a year or so ago.Keniworth? Could this actually be Kenilworth? If so I think they are an American Inestment company.Problem is trying to contact the company and getting them to clarify a few points.Everytime I e mail the address's given on website it just bounces back.Anyone had any luck trying to contact them?
Thanks tiredbroker for reminding me why I put these shares in the bottom drawer.

[timely] 15/4/2008 20:34

What I don't understand then is why they(Grande) make such positive statements in the published reports? Why bother - surely they should just tell it as it is? Or am I being naive in some way?

[tiredoldbroker] 15/4/2008 12:35

Looks to me that with £5.2m of debt to major shareholders, and turnover which, even if GEL secures additional work, is unlikely to exceed £2m in any foreseeable year, there's really zero value left for the shareholders.

Seems most likely that Grande has no plans at all for Ross, but that winding it up would crystallise a significant loss, which is avoided by simply allowing Ross to limp along.

I can see no reason why they wouldn't already have used Ross to launch consumer electronics products onto the UK market, if that was their intention. Grande has a shadowy past, as best, and Keniworth (surely a misprint, if ever there was one) doesn't appear to exist apart from its role as a Ross shareholder - certainly, a Google search finds nothing, while you'd expect a company of any substance to come up with a few pages at least.

[sharw] 15/4/2008 09:20

If you hold more than 50% then your accounts consolidate it as a subsidiary. If less, but you have some control, then it is classed as an associate. Grande had 70.8% of the shares until July 06 when it sold 29.4% to Keniworth Capital leaving it with 41.4%, hence the change in status.

I did ask at the time (post 149) who Keniworth are but have still not found out. We do know from the interim results that:

"At 30 June 2007 total borrowings from Keniworth Capital Ltd were £3,484k and £1,721k from The Grande Group".

This gives them an overall greater interest than Grande, but no board representation.

[timely] 15/4/2008 06:57

The engineering arm should be close to making a profit in its own right imo. This business has been nursed back to a healthy state and could then be ready to offload. Looking forward to seeing the results to see if my thoughts have any foundation, or not, as the case may be.

[john148] 14/4/2008 21:45

Tell me about it.Had a look at Grande's Annual report.RGP is no longer described as a subsidiary but an associate.This is all news to me as I wasn't aware that it was a subsidiary in first place.Strange that it has also reduced it's stake in Ross.
This roll out of Sansui products seems to be taking a long time.My impression is that they have run into problems on this front.
With regard to selling off the engineering arm, my view is that you have to have something that another company wants before putting it up for sale, which they just don't have at present.
You're right,I'm holding onto my money for now,despite fact that the share price was up today.

[timely] 13/4/2008 20:51

I have assumed it is going to use Ross for Sansui at some point and sell-off its engineering arm. All speculation on my part so please do not invest on the back of my post. This is a high risk play so dyor.

[john148] 13/4/2008 20:20

Thought Grande were going to use RGP as an outlet for its Sansui brand of goods.Just wondering whether it's worth having a punt of a couple hundred £'s before results released.After all,company should have been dead and buried by now and yet its still trading.

[timely] 13/4/2008 16:25

It will be interesting to see if Grande have anything to say about what they have in mind for Ross. In the past reports they have alluded to re-structuring Ross but nothing has happened yet.......

[john148] 13/4/2008 09:10

timely.I reckon that the results are going to be good but unfortunately not good enough in the current climate to make much impact on the share price.We've had a couple of false dawns over the years, lets hope that this years results aren't a repeat.By the way, thanks for adding a note.I thought I was the only shareholder left!

[timely] 12/4/2008 20:53

A bit more than a coincidence(?) that the MMs have pulled back the price on the same day that their major shareholder (Grande Holdings) announce that their results will be out on the 23rd April. imo the MMs are after more stock in the run up to the results but of course I may be entirely wrong - as ever dyor.

[john148] 07/3/2008 21:29

Yep.You're probably right.I've held these shares for more years than I can remember. I reckon that sooner or later the Directors are going to have to reveal exactly what their intentions are with regard to this company.

[sharw] 06/3/2008 21:02

John148 - perhaps this is why they remain on the main market! AIM now has a requirement to have a half-decent website.

[davevanian] 06/3/2008 20:45

Ross are a waste of time, i have sent three e-mails over the last couple of years and never had a response, i've written this off, these Hong Kong buyers have been a complete wash out: ROSS RIP...............

[john148] 06/3/2008 20:40

Funny,I asked the same question about 18 months ago and was advised that the site is updated by the company as and when it has time. Well,I reckon it's had plenty of time.Strange that a company listed on the main market can get away with this sort of thing for so long.It's certainly not very helpful to shareholders or those wishing to invest.Probably one of the reasons the share price has remained so low.

[timely] 03/3/2008 17:38

I have sent emails asking when their website will be updated but have never had a reply.

[john148] 03/3/2008 17:32

I have e mailed Ross Grp before with my enquiry as to sales and performance.I think I rubbed the previous Finance Director, who left a year ago,up the wrong way.Anyone fancy e mailing them and asking how things are going.The worst that can happen is the lines of communication go dead.Thats what happened to me!

[joeall] 28/2/2008 20:37

There has to be a reason,it would be interesting to hear from anyone who knows..

[scarletpimpernel2] 28/2/2008 17:55

why the drop when no shares have been traded??? 2 days running...

[john148] 03/2/2008 10:05

Not long before Ross report end of year.Any views?

[tara7] 02/1/2008 08:13

Deal in my view has been done, news [good], on the way. Hard to get hold of stock, harder still when news comes out.

[fido] 28/12/2007 23:27

Just out of interest, Goodwin the engineer posted a 54% increase in profits today with a good forward order book. It could be that some of this has rubbed off on Ross. It is also concievable that Ross could find itself at the end of a bid or even a reverse takeover because of its tax losses.

[joeall] 28/12/2007 15:16

Another plus trade T.