Scapa Share Discussion Threads

[marmar80] 18/6/2019 11:00

250 is still far from the 380 which was before the CEO departure news. He is staying in to help his baby. Only unknown is the Convatec but I think a lot is happening behind the scenes and we will be told soon if this was just a bluff or real act which the company will defend. Scapa opened a new facility just a month ago and hard to believe there will be nothing to do there. Pressure is on and if not Convatec then other deal may plug the hole soon. Directors know more than us about next weeks and they all bought shares.

[woodhawk] 18/6/2019 10:49

It's good to have a plan... and stick to it. I try my best.

[marmar80] 18/6/2019 10:22

Don't like quiet boards. My target is well known. Once achieved will move to another highly undervalued share.

[woodhawk] 18/6/2019 10:07

Are you in a hurry, marmar80?

[marmar80] 18/6/2019 08:48

Good to see directors adding

[marmar80] 18/6/2019 08:08

Early to say, but I believe the share price will come back to growth today. Below 200 is just a bargain.

[marmar80] 14/6/2019 10:07

Another director bought. Nice.

[woodhawk] 14/6/2019 09:49

Ah, Festy - joining Fizzy and Woody!

[festario] 14/6/2019 09:46

I got in MarMar, I'll hang around for a bit, looks interesting!

[robow] 14/6/2019 08:59

indeed, the drop was way overdone

[woodhawk] 14/6/2019 08:54

Thanks for that Questor article, robow, good to see the Buffetology fund have kept the faith - it was a webcast by Keith Ashworth-Lord that first alerted me to this share last year. My latest venture here is already up circa 30% in a couple of weeks.

[robow] 14/6/2019 08:31

from The Daily Telegraph
Questor:
money flows out of Scapa but readers should resist any temptation to join the flood

Questor Inheritance Tax Portfolio: after a torrid month for the tapes maker – the loss of its boss and a big contract – things are now looking more rosy
It’s been an eventful few weeks for Scapa, the maker of industrial and medical tapes tipped here in March last year at 471.4p.

On May 21 it published perfectly satisfactory full-year results but unnerved the market somewhat by announcing that its chief executive, Heejae Chae, who had largely steered the company’s successful restructuring, was stepping down.

Two weeks later came a much bigger bombshell: Scapa said it had received notice from a large customer, ConvaTec, that it was terminating a contract in North America worth about $30m (£24m) a year in sales. The shares lost 47pc.

Then on Monday this week the company said Mr Chae had agreed to rescind his resignation and would stay on “to execute the current strategy”

Keith Ashworth-Lord, who holds Scapa in his SDL UK Buffettology fund, told Questor: “The results in May were nothing other than good, but Chae’s retirement was a bolt from the blue. He is regarded as the architect of the firm in its present form and the market thought there were no succession plans.

“Then, when the ConvaTec announcement came, investors put two and two together, came up with five and crucified the share price.”

He added: “Last week a group of shareholders, including us, tried to get him to change his mind and convince the market that he hadn’t resigned over ConvaTec. We got the result we wanted this week and the shares have recovered to about 195p.” He said the loss of the contract was “material but not the roof falling in”.

“Chae will stay until the problems are solved and that will give Scapa time to sort out the succession,” he added.

“This holding has not been my finest but we are sticking with it. We bought more shares heavily after the fall – about 800,000 at various prices as low as 159p. We think it’s been an absolutely classic overreaction by the market. Personally I’m very relaxed about the whole thing.”

Questor: hold

Ticker: SCPA

Share price at close: 199p

[marmar80] 14/6/2019 07:23

htTps://www.technicaltextile.net/news/scapa-opens-new-medical-device-manufacturing-hub-249906.html

[woodhawk] 13/6/2019 08:44

Best I could buy on either of my platforms at quote was 100 shares!

[marmar80] 13/6/2019 08:34

Agree. Will move back to blue soon.

[woodhawk] 13/6/2019 08:25

Share price being ratcheted down, yet it seems no decent amount of stock available to buy - happened a few times yesterday too.

[kazoom] 12/6/2019 16:05

A sizeable chunk there for the CEO (£200k). The others obviously have shallower pockets or were less keen to contribute to the flagwaving.

Never convinced you can read too much into these events.

[woodhawk] 12/6/2019 13:23

Always good to see insiders buying. Onwards and upwards!!

[marmar80] 12/6/2019 12:56

It's not moving mad with all the hypes attached. Lovely. In this case revising my own target from 225 to 250.

[marmar80] 11/6/2019 10:48

A small top up for Investec

[woodhawk] 10/6/2019 12:58

Hi Fizzy, sold my CEY, done well already and didn't want to push my luck. Still holding here and IMB, IG like you.

[marmar80] 10/6/2019 12:48

The best of it is that technically we are still touching an oversold area. One of the Trusts anounced today that it has added to own holdings. More of such announcements to come imo.

[fizzypop] 10/6/2019 12:12

Morning Woody. Yep great recovery and up 20% on my topup so you must be +25-30% on your 149p. Still in CEY, IMB and IG and prepared to wait. May take another bite at TW. Good Luck