Scholium Share Discussion Threads

[mach100] 09/2/2015 09:41

"The Board considers that a continuation of current trends would make it unlikely that revenues for the full year would be materially ahead of last year." Did anyone else find the wording a bit strange? Has it intimated previously that Shapero books would be materially ahead? If so I can understand that it is correcting that impression. If not, it seems extremely weird wording to me. Dreadful update and am not sure the NAV will underpin it unless SGI decide to bid. SGI paid a 24% premium on Mallett and 11% over its 3 month average price so maybe similar upside could be achieved here in the event of a bid. Not sure that it has bottomed yet and there must still be some very sore holders from the IPO.

[jonwig] 09/2/2015 09:21

PUG - nor have I bought, as I know nothing about their business though I do have a few rare books (on my Kindle).

[jonwig] 09/2/2015 09:16

They seem to have turned £120,000 of stock into £140,000 of cash, which strengthens the balance sheet even more. Valuation? I'd have thought that, like antique dealers, there's a certain market signal based on latest similar trades, and if they've any sense they will have been prudent. At the moment they say reduced profits, not loss ... but that could change. EDIT - see p18 of prospectus for valuation - it's "difficult".

[philanderer] 09/2/2015 09:16

Let`s see if Midas updates it`s 100p share tip ;-) Midas verdict: The rare books market is little known outside rarefied circles, but collectors tend to be passionate about their hobby and willing to pay extremely high prices to secure what they want. Blackwell and Shapero are well-connected and the flotation proceeds should enable Scholium to grow fast. At 100p, the shares offer good value. Buy. Read more: HTTP://www.thisismoney.co.uk/money/investing/article-2576391/MIDAS-SHARE-TIPS-Rare-book-dealer-Scholium-plans-float-buy-fine- 77p NAV I see is unaudited.

[pugugly] 09/2/2015 09:04

jonwig: Agreed - now a slight bounce - BUT could this be another MALLET where after poor trading - when push came to shove - it appeared tht the stock was overvalued. Do we know the basis of NAV calculation ? Cost of stock or written down cost of stock - Could make a big difference. Watching but not jumping due to very thin market (ususally) and wide spread.

[wskill] 09/2/2015 09:00

As they say warnings come in threes what about stock valuations is it done by an outside party, if it is then the net asset figure should be correct.

[jonwig] 09/2/2015 08:49

Interesting reaction to the profit warning here. The balance sheet is clean, with net assets of 77p/sh, but the share price drops to a discount of 30%. Even discounting the stock value that looks a bit harsh. Free float probably about 50%, so a thin market? Quote seems to be 52-55, is that right? EDIT: 45p now! How interesting!!

[philanderer] 03/2/2015 13:46

Spot on Mach. New low... 67p bid now

[mach100] 03/2/2015 11:59

A lot is dependent on the The European Fine Art Fair next month. It would be useful to know how this performs as revenue was very much weighted towards the second half of the financial year. A poor showing would probably knock 15 to 20% off this, despite how far it has fallen already.

[philanderer] 27/1/2015 09:06

Oh dear... 5000 sold @ 68p .... dog of the portfolio by a mile.

[philanderer] 21/1/2015 20:19

Blimey, just the one trade today.. 1700 sold @ 73.2p and the bid held at 73p ;-)

[philanderer] 19/1/2015 08:44

Nice start to the week.. 2000 shares sold takes us to a new record low bid of 73p. Down an easy 9% in five trading days :-) And still not a buyer - director or otherwise - in sight. At this rate , worth zero by april 27th ;-)

[philanderer] 18/1/2015 16:30

Interesting article, Qatari`s could be the new Russians ;-) 'Russian tourist spending in UK down 28%' HTTP://www.bbc.co.uk/news/business-30869979

[philanderer] 15/1/2015 15:37

Another 5,500 dumped ... not a single buyer in sight. New low of 74p bid.

[philanderer] 13/1/2015 09:50

597 shares sold and the bid drops another 2p . We can all move this price by the look of it and not a buyer in sight.... Interesting to see what a few director buys might do , but it doesn`t look like happening. edit: another 2500 @ 76p sell and now down to 75p bid.

[philanderer] 12/1/2015 19:35

Evening Trekker, definitely patience required. Like you I`m holding a few for portfolio diversification. As the company said in the interims , they`ve bought the 'high quality stock', it`s just a matter if they can sell it in the principal selling season in the second half of the financial year now. Fingers crossed . And xd on thursday for the 0.5p ;-)

[trekker60] 12/1/2015 18:49

Philanderer: "No interest whatsoever, no trades........" I bought a small holding in this a few months ago as an alternative investment/below the radar type investment - and as such, I fully expect that the only influence which will (hopefully) drive the price up in the longer term is results. So no real surprise that MMs are currently trying to generate a bit of business by reducing the share price. In the absence so far of any definite bad news, for me, the original investment case still stands. One for the patient, I think, unless any definite negative news emerges to cause a rethink.

[philanderer] 12/1/2015 17:07

No interest whatsoever , no trades , marked down again. All time closing low quote: 78p - 79p

[philanderer] 17/12/2014 22:48

Shapero Rare Books - large feature in Moneyweek.. HTTP://email.shaperorarebooks.com/MoneyWeek_12_12_2014.pdf

[philanderer] 16/12/2014 11:22

Shapero Rare Books ‏@ShaperoRareBook 13 minutes ago Last chance to see #NaturalSelection #taxidermyexhibition this week! Review: HTTP://www.houseandgarden.co.uk/interiors/art/weird-and-wonderful

[philanderer] 16/12/2014 09:23

About 6 tiny trades since yesterdays numbers , all sells , looks as though we go back sub 80p shortly. Zero broker coverage.... and only these couple of lines from today`s press.. Independent: 'Scholium invests in ‘higher quality’ The rare books retailer Scholium posted a half-year loss of £235,000 as it invested funds from its recent City flotation in “higher-quality” books. Group sales rose 2.2 per cent to £2.8m in the six months to September. Scholium said investment would improve profit margins. HTTP://www.independent.co.uk/i/matrix/the-business-matrix-monday-16-december-2014-9927001.html

[philanderer] 15/12/2014 17:15

Ah... RNS released.. On 15 December 2014, Scholium announced that it would pay an interim dividend of 0.5p to shareholders on its register on 16 January 2015. The Company's shares will become ex-dividend on 15 January 2015 and payment will be made on 30 January 2015.

[philanderer] 15/12/2014 09:19

The only negatives I read in the report.. "....due to the change in mix between commission and owned stock the gross margin of the Group has decreased." "..activity at Shapero Rare Books in the first six months of the financial year has been slightly quieter than anticipated" The key being: "Given the high levels of quality stock and a firm pipeline of selling opportunities, the Directors are confident, if certain high value items are successfully sold before the end of March 2015, that market forecasts will be achieved." Cèst la vie these days. I`m happy to hold ... and a 0.5p dividend as well although I can`t see a pay date ;-)

[blueliner] 14/12/2014 10:04

Under the title 'Rare books : the ideal Christmas gift', this week's Moneyweek has done a two page spread on the subject. Plenty of content about Shapero Rare Books & no one else, presumably there isn't any other outlet in this niche. Good article written by the editor who must have spent some time at Shapero's researching it. I might add that although she [the editor] was enthused about Shapero's describing it as 'glorious' and doubtless encouraging some high net worth footfall through the shop, it was not a tip, so no mention of the listed Scholium co.

[philanderer] 12/12/2014 17:20

Another 6000 @ 89.7p this afternoon :-)