Safeland Share Discussion Threads

[dupreesdiamondblues] 05/8/2002 22:48

Isn't it funny how few of the trades friday and today are done at the quoted prices
that 60,000 deal is promising I may get some more tomow

[dupreesdiamondblues] 05/8/2002 10:09

Well I have got some more although it not show on advfn. i was toying with the idea last week perhaps I should have been more incisive. Shares cost 50% of nav, so I can't go too far wrong I suppose. also I think stock market will continue bad anfd have knock on effect perhaps improving trading conditions for SAF. They only need to pull one excellent deal out of the bag and results could improve dramatically. Risk reward r seems excellent with this, my first buy this year other than two days in Acambis
I may change my name again someone said it was too long and causing them a nuisance. Losing RowJimmy has baffled me.Only users lose names.

[dupreesdiamondblues] 05/8/2002 10:09

repetition

[dupreesdiamondblues] 05/8/2002 07:27

Yes
I believe there is a point at which they are not allowed to buy more shares without a proper arrangement for de listing

[dupreesdiamondblues] 02/8/2002 18:47

What might their target be? If they want to go private is it 75% or what? How strongly does this imply that my shares will shortly be worth 50pence + ? Should I buy some more at once? Tell us Jeff you are the authority.

[dupreesdiamondblues] 02/8/2002 18:44

Well done Jeff
What % of company will Safeland own?

[dupreesdiamondblues] 02/8/2002 09:01

Jeff so you wonder if the divi cut is partly designed to let the price fall? Hmm. But if they keep buying back, value of each share increases so wheres the poblem?

[jeff h] 02/8/2002 08:43

Bird.... the management own Safeland Holdings Corp which also
has a stake, so add the 2 together and you get 50%+

cheers

[bird of dawning] 02/8/2002 02:11

Where did you obtain this figure of 50%+ owned by the management? I have checked (via corporateinformation.com) this out and it is currently at 22.14%. As far as the lack of dividend is concerned; this doesn't seem too out of order, as only 4% of the properties are investments. The trading/speculative nature of the refurb business contrasts with the larger, mainly property investment companies that do pay a solid dividend. Perhaps you should take a look in this area?

I'm interested in the price/book ratio of 0.41. Similarly I like the low gearing (net of cash) of 65.1% (low for a property company). It is also currently priced at around NNCAV...not much downside risk here! I guess this company could be a medium to long term value investment. Their strategy of staying out of the currently highly priced property market, and concentrating on buying back shares seems to be a sound one.

Regards

[bird of dawning] 02/8/2002 02:10

Where did you obtain this figure of 50%+ owned by the management? I have checked (via corporateinformation.com) this out and it is currently at 22.14%. As far as the lack of dividend is concerned; this doesn't seem too out of order, as only 4% of the properties are investments. The trading/speculative nature of the refurb business contrasts with the larger, mainly property investment companies that do pay a solid dividend. Perhaps you should take a look in this area?

I'm interested in the price/book ratio of 0.41. Similarly I like the low gearing (net of cash) of 65.1% (low for a property company). It is also currently priced at around NNCAV...not much downside risk here! I guess this company could be a medium to long term value investment. Their strategy of staying out of the currently highly priced property market, and concentrating on buying back shares seems to be a sound one.

Regards

[dupreesdiamondblues] 01/8/2002 22:57

so you got your 10k apparently very cheap? looking at trades

[dupreesdiamondblues] 01/8/2002 22:33

I suppose price move is a reflection of lack of liquidity. But why not a penny a day? Because most broker enquiries are for sells I imagine. So if that persists, e.g someone with 100,000 or 50,000 shares aks their broker to look into selling them we could see quite plausibly further falls

[dupreesdiamondblues] 01/8/2002 22:25

the last bit I don't know
but why are you cynical about dividend cut? They tried once before to cut dividend when they made no money, but shareholders got upset. But it seems reasonable not to dish out cash if you are not making it.
Also, share buyback could be seen as better value for shareholders, and serving them better. After all presumably saf shareholders have confidence in saf asset value. You do you have said so just above. I think they are doing right thing broadly.
you have no comment on rather unusual price changes?

[jeff h] 01/8/2002 12:51

Blimey 31p...never thought I'd see them this low..... I bought
another 10k.

At this price even excluding HPS stake it's buy one get one free
.... yes trading will be poor as the Lipman's refuse to pay current
in their view inflated prices for London property.... I wouldn't
even be surprised if they put out another negative trading statement.

I am cynical regarding the reasons for the div cut.....cant see how
you can have literally millions in the bank... debt slashed and no
major purchases to make yet can't afford to pay £250k for a 1p div.

From an asset based perspective is there any other quoted property
company that trades at over 50% discount to Net Assets ?

[skyracer] 01/8/2002 00:16

Sad Safeland @ 31p. A share price collapse was always a possibility when the ill-advised share-buybacks dried up(see my posts 5,6 and 7). The investment in Hercules at 140p bid is now 66p below the book price of 206p so there is the possibility of a further provision. Looks more fairly priced now however.

[dupreesdiamondblues] 31/7/2002 22:28

Skyracer you are a bit down on Safeland value I am sure it is theoretically worth a lot more. I've lost my bloody name again.
You are true i should think that sharebuyback has been instrumental in price support, but I am not sure taht I go along with your criticism of it.
No comment anyone on remarkable price change at atime of no trading? Do you think it anatural phenonemon (??!)when no one buys or something special?
I think it will be a good buy in due course. I have shares but I have had them so long I can't get worked up about current performance, i am sure they will be alright

[simonevans] 31/7/2002 22:13

Excellent buying opportunity if you ask me! As always DYOR!

[-cc- dizz dash] 31/7/2002 10:56

nO TRADES FOR THREE DAYS AND THE SHARES ARE marked down 3p.....I suppose the mm have had some enquiries about share disposals?

[rowjimmy] 24/7/2002 23:47

Is there anything to stop the company buyoing shares now? I understood they were in a closed period but now I stop to think I am not sure why that would be. I wonder how low they will go?