Scapa Share Discussion Threads

[the jitters] 08/5/2003 14:48

Some biggish trades floating through now........looks like the market is pleased. Doesnt surprise me though as the litigation problem now seems quite a small threat now compared to the huge problem it posed before this news.

Phil

[the jitters] 08/5/2003 13:25

I dont really understand the first bit at all, but looks like some waffly way of writing off intangibles in one form or another......but i'd like a professional opinion! LOL

The second bit is the bit the market likes. The market was concerned about the potential costs of damages in these cases, but it now appears to be pretty much a storm in a teacup.

A few buyers floating around today which is good.

Phil

[call-logger] 08/5/2003 13:13

So what's all this about then???

[cwa1] 07/5/2003 14:57

It also appears as if Hermes have been adding on behalf of several clients. Though the holdings seem to have fluctuated a bit, they do seem to be on an overall upwards path.

[the jitters] 07/5/2003 13:31

Seems odd the lack of upward price pressure. Yesterday and today we have seen steady buying (in a bouyant market) with the price staying static. One could be forgiven for thinking there was a stock overhang yet Gyllenhammars recent purchass would suggest and free floating surplus has been bought up.

curious situation

Phil

[cwa1] 07/5/2003 09:45

Further to above thoughts there seems to be a little light buying today, so far.

The electronic spreads have narrowed as well, with 50k bid at 17p and only 5k offered at 18p. They were much wider and more generous yesterday with 25k bid at 16.5p and 25k offered at 18p.

Not much to write home about I confess, and perhaps I am clutching at straws :-), but I always feel it is nice to see the spread narrowing a bit.

[cwa1] 06/5/2003 16:42

Hi Phil

FWIW I have a largeish holding here based on the asset value of the company and the Gyllenhammar position. I feel it is ripe for movement either way. If results are poor then somebody will step in and take them over....if results are good then it looks fundamentally undervalued on a p/e of 2 or 3, yielding 10% and at a significant discount to NTAV.

Wait a minute....did u say try and talk you out of buying more?.....ooops, sorry ;-)

[the jitters] 06/5/2003 15:47

Oh, forgot to mention Peter Gyllenhammar is interested in 5.5% of the stock.

Phil

[stockport] 03/5/2003 00:54

These were tipped again in this months Growth Company Investor mag.

[cwa1] 04/4/2003 08:30

Good call Sky. Spot on. Looks as if SCAPA are in play now. Might take a while but something happening looks odds on. Wonder if it is worth topping up some more?


"NOTIFICATION OF INTEREST IN SHARES

Scapa Group plc was notified on 3rd April 2003 under the Companies Act 1985 that
Erudite UK Ltd. have a beneficial interest in 6,000,000 shares of the Company
which represents 4.14% of the shares currently in issue. Scapa Group plc was
also informed on 3rd April 2003 that Browallia Discount Company Ltd. have a
beneficial interest in 2,000,000 shares of the company. Given the interest of
Mr. Peter Gyllenhammar in both Browallia Discount Company Ltd. and Erudite UK
Ltd., Mr. Gyllenhammar should be considered to have an interest in a total of
8,000,000 shares of the company, which represents 5.52% of the shares currently
in issue.
"

[cwa1] 03/4/2003 00:29

Hi Sky

That certainly was one of my guesses. Given the slight uptick in the price, is it too optomistic to speculate that the seller is either done or nearly done?

Anyone got a L2 quote on prices and sizes?

[skyship] 02/4/2003 14:59

With someone paying 17p for 100,000 and the quote now 15-19, perhaps the tap-seller has withdrawn - for the timebeing at any rate! Erudite look to have timed this rather well; certainly better than I did (average cost = 22.5p).

[skyship] 02/4/2003 11:43

Looks as though yesterday and today Erudite may have added another 5m @13p - yet still the price sticks at 13-14p. Presumably we will see an RNS later today to confirm matters.

[cwa1] 01/4/2003 17:16

Some pretty hefty looking trades today.....anybody care to guess what is going on with Scapa?

[cwa1] 28/3/2003 14:27

Thank you rescuer......now I just have to work out what it means ;-)

[rescuer] 28/3/2003 14:20

CWA1 (from the mayflower thread)

2 bid 1 offer

csfb 10/15
mlsb 11/16
cazr 11/14
wins 13/18
klwt 13/18

hope this helps

[mgpp] 28/3/2003 12:59

The Cape/Montpelier asbestos experience has little to recommend it. The Montpellier directors have left the board of Cape and some of the settlements they negotiated have been set aside by the "new board".

[skyship] 28/3/2003 00:47

Those big trades were Erudite Ltd ( a Peter Gyllenhammar vehicle) taking a 3.8% stake. I suppose this has to be an encouraging move, though Peter Gyllenhammar's other investments can be a bit dubious to say the least: Yorkshire Group (YOR); Litho supplies (LTS); Densitron (DSN); Jarvis Porter (JVP). His main UK quoted vehicle is Montpellier Group (MPL) - a housebuilding, property & construction company which has actually performed quite well.

He is an active investor, so this move could presage future corporate activity. If so, the current price could be absurdly cheap. He recently accumulated a 29.9% holding in Darby Group before last week's bid by Jarvis Porter.

[cwa1] 27/3/2003 13:27

Hi Sky

Thanks for that.

As a matter of interest I was a holder in Frederick Cooper, which Erudite/Gyllenhammar were an agitator involved in the final break up.

Scapa has a similar look to me. Big discount to assets, difficult trading conditions, etc. Take them out at their lowest ebb.

I'd be surprised if they(Erudite) were in this for the long term. An encouraging sign IMHO.

[skyship] 27/3/2003 13:17

This was what Montpellier stated when back in Nov'01 they took their holding in Cape (CIU) up to the 29.9% level:



Cape of course has been another compnay held back by potential asbestos liabilities. Perhaps MPL/CIU "Asbestos" experience can help Scapa; but I sincerely hope their Scapa investment bears fruit somewhat quicker....

[cwa1] 26/3/2003 17:38

Some big trades through today. Any thoughts as to whether the seller is done?

[mgpp] 25/3/2003 16:41

Today there was a purchase by one of the directors who ought to have a good idea about future prospects and the price promptly fell.

Now I call that perverse!!

[tekan] 18/3/2003 14:08

DO YOU THINK ITS WORTH INVESTING A COUPLE OF MILLION SHARES IN THIS ONE?

[hectorp] 12/3/2003 11:41

I agree njl53, so if not yet holding there are very good entry opportunities... if stocks are worth holding at all that is! :-) If holding, as well to stick this one in the bottom drawer for a year or two, well worthwhile IMO.
H.