Security Res. Share Discussion Threads

[fido] 23/6/2017 08:55

"David Brown, CEO of PIE commented on the merger, “PSG are a great fit for our business; they share our ethos, passion and dedication to empower law firms and help them grow within the market place. We have always looked at PSG as the market leader in terms of quality search delivery, customer support, local knowledge and presence. We are really looking forward to the many opportunities and benefits this merger will bring to all of our clients. It’s very exciting.”

If that`s the case then why did it take three years to sell the business?

[battlebus2] 17/6/2017 12:52

Process moving ahead quickly, Received a letter from Begbies Traynor who have been appointed to deal with the MVL. AGM notes etc for the AGM on 17th July at Begbies offices 40 Bank Street London. Remaining co to be named SRG Realisations.

[fido] 12/6/2017 10:51

It is not the sale of PSG that needs approval but the distribution of cash.
From the company announcement:

" This will require a resolution of SRG shareholders to proceed with the
distribution of cash"

[eezymunny] 12/6/2017 10:28

This is what you want, PSG Connect, methinks.

[meijiman] 12/6/2017 10:23

Great. You are more on top of this than me!

[eezymunny] 12/6/2017 09:47

If the deal is complete the answer is no, no!?

[meijiman] 12/6/2017 09:43

Hope you are right. Does it require a GM to approve?

[eezymunny] 12/6/2017 09:31

Disagree meijiman. The deal I guess is complete (looking at PSG on companies house, all dirs resigned, accounts filed etc). I expect a payment quite soon. We shall see...

[meijiman] 12/6/2017 08:57

Think it will be a few months to wait. I note the company announcement has nothing in it about dates/timelines. Still welcome news.

[interceptor2] 11/6/2017 22:49

Thanks cfro, first time I have held a stock that has delisted, I know battlebus has held a number of times with good results. So relieved that after such a long wait it has turned out well, which gives useful knowledge in case I am in a similar situation again.

Nominee account for me.

[battlebus2] 11/6/2017 18:14

Both CFRO, certificates means the cheque should arrive on the doorstep but holding in nominee should be credited to that account.

[cfro] 11/6/2017 17:38

I keep a passing interest here and see the recent news. Congrats to all holders here who had the patience to see this through.

Was wondering how any of you hold the shares. Do you hold in certificated form or would your broker still let you hold them in account?

[eezymunny] 10/6/2017 11:51

I think 60p, then a very small one (1-2p? in a few months, as they will presumably only retain enough cash to pay for administrator etc, and a keep bit of buffer to be distributed by administrator if any left over) then we'll own M&B shares which may end up returning 5-10p (maybe a long time in the future, if ever!)

[battlebus2] 10/6/2017 10:22

I try to judge would the return have been better if they had stayed on the market and SRG is the only one I'm doubtful on so not sure of the benefit especially now given the bull run. Then again I'm not complaining as I'm expecting to double my money here and the bank wouldn't do that in twenty.

Interceptor I would expect a long wait but 7p is possible.

[eezymunny] 10/6/2017 09:59

Same here bb - but you have to be very careful. I don't think I've ever been done over by a delist but I'd deffo stick with UK stuff, and only when the reason is a wind-up.

Holding shares in a delisted Malaysian (?) company sounds pretty scary.

I own quite a few SRG. Trimmed a few b4 delist but kept the bulk. But it's all very uncomfortable, and it has been a long wait here - I really think they need to make it much harder to de-list. There are cases when it's obviously the right thing to do but plenty where it's not. In this case SRG has probably saved c. £1m by delisting, so Harry Hindsight says great!

[interceptor2] 10/6/2017 09:56

Last year after the final payment received for Audiotel, SRG had 32p a share in cash, so a return of 60p per share would indicate they achieved a higher price than 28p per share for PSG.

PSG was their successful high margin business, as the main beneficiaries are the directors and institutional shareholders, I would hope that they have achieved a good price for this business.

"It is intended that a final, substantially smaller, cash distribution will be made at a later date"

I wonder what substantially smaller than 60p will be, 5p to 10p?

[battlebus2] 10/6/2017 09:49

Nice one eezy, I've been very fortunate with stocks that have delisted so far all of them have produced great returns. Only downside is the wait and you can't need the funds as selling isn't an option. I'm looking at Fusionex but I'm undecided as it's not UK based. DYOR etc

[eezymunny] 10/6/2017 09:22

Moore & Buckle at 31/3/16 had c. £1.2m book value, almost all net current assets, so might well be worth 6-10p/sh. Or nothing. Time will tell but we've got used to being patient.

I'll be landed with a nasty capital gains tax bill. Not often I'm happy about tax bills :)

[battlebus2] 09/6/2017 23:38

Hope it doesn't take another two year until we get the payment lol

[interceptor2] 09/6/2017 23:19

Very pleased thanks for the link fido.

Has been a long wait but a nice return in the end.

[battlebus2] 09/6/2017 20:27

Fantastic news, knew we'd get there in the end. In at 38p so very happy

[eezymunny] 09/6/2017 20:13

Tx Fido

Hurrah. 60p. Then a bit more. And Moore & Buckle shares - might be worth another 10p one day?.