Sig Share Discussion Threads

[thomasearnshaw] 20/11/2020 06:01

It is not surprising that so many sellers are letting their shares go, ahead of what is expected to be a very poor statement next

H2 lossmaking

No much net cash left

Another placing and ano dilutive bonus fro Francis?!

Traders are warnings of disruption in building materials from January without clear decisions on how the UK and EU will co-operate after the Brexit transition period ends.

Cast your mind to how it plunged on the interims

Lube up get ready to see price plunge

[eringael] 19/11/2020 22:04

You should tell the poor sod who paid over the ask for 200k at close and those idiots CD & R that have a big lump of the company !!! What are they doing, mad I tell you

[albanyvillas] 19/11/2020 14:05

Too much debt and pain here to come.

[heatseek77] 19/11/2020 13:55

Trout, Smelly likes to pick out - i think misleading is a good evaluation...

[troutisout] 19/11/2020 11:52

You might want to read all they said in their Interim report rather than use just one sentence, you know they covered the actual cash figure and also that any increased cost in H2 were covered by cash. It was you that stated,

"Thats not much cash pcm with a 99m annual loss"

They had £267.5m in cash at 31 August and that is plenty to cover any losses, especially as they are not all cash based losses.

[qsmeily456] 19/11/2020 11:27

naive at best, misleading at worse.

Well thats in sigs own words

"with a net cash position, pre IFRS 16, of GBP29.2m. Approximately GBP13m of deferred payments relating to government"

[troutisout] 19/11/2020 11:17

That is their net cash after deducting any loans, they had £267.5m cash at the end of August and the annual loss will include non cash impairments.
They have loads of cash and they have debt in the form of long term loans, the cash is there now and the loans will get paid down from future earnings....To try and put the two together to make up a scenario for the short term is naive at best, misleading at worse.

[qsmeily456] 19/11/2020 11:02

"with a net cash position, pre IFRS 16, of GBP29.2m. Approximately GBP13m of deferred payments relating to government"

Thats not much cash pcm with a 99m annual loss

[troutisout] 19/11/2020 10:07

So on 30 June they had net debt of £90m and then after the raise, as at 31 August they were net cash £29m. A positive move of some £119m. A certain poster seems to think we don't have loans in place and that these will all need to be paid back immediately. SIG has plenty of cash, more so than all of it's loans and any deferred payments to Govt.

"As at 30 June, the cash position had improved to GBP197.3m with net debt, pre IFRS 16, of GBP90.0m. This improvement reflects improved levels of profitability, a continuation of cost control actions and utilisation of government support schemes, as well as an ongoing rigorous, though careful, management of working capital.

In mid-July, the Group completed a successful capital raise, as previously announced, raising gross proceeds of GBP165m (GBP153m net of related costs). In addition, approximately GBP13m costs were paid in relation to the debt refinancing.

As at 31 August, the Group had cash resources of GBP267.5m, with a net cash position, pre IFRS 16, of GBP29.2m. Approximately GBP13m of deferred payments relating to government support schemes will unwind over the coming months, the majority doing so in H2 2020."

[thomasearnshaw] 19/11/2020 09:29

Yes, H2 will be LOSS MAKING

£99m loss forecast for the year

Not much cash left after they pay HMRC the owed NIC and PAYE and VAT, just debt

And they are not compliant with IFRS16

[qsmeily456] 19/11/2020 09:26

Some on here clearly don't read the simple results and that's just stupid.

Where's the cash needed going to come from...not sales so its either a placing or another form of fund raising diluting shareholders

[thomasearnshaw] 19/11/2020 09:22

When are results its goinna get hammered and watch the pips squeal

[qsmeily456] 19/11/2020 09:17

Hes right it will tank and has tanked.

If the results were great this would not be falling.

[thomasearnshaw] 19/11/2020 08:36

It has virtually no cash and about to go into debt

You spas


Will tank when they report - just like it tanked last results


Ill get my popcorn in

They have said H2 will be loss making :)

[ross k] 18/11/2020 20:25

AgreedBut that's the illogical thinking behind the markets sometimes.

[trinid2] 18/11/2020 20:18

I would not be surprised to see CD&R get to 29% and then make an offer, sometimes I think that is the only reason they got involved..

[trinid2] 18/11/2020 20:14

Ross, My thoughts are a big order being filled.........it just annoying when you see other shares on your watch list move up and they are not even open for Business

Am pretty confident though that some thing positive is going to happen sooner or later with this company, as a lot of detail has gone in to it over the last 5/6 months

[ross k] 18/11/2020 20:09

As at 31 August, the Group had cash resources of GBP267.5mThey have cash Not a problem

[ross k] 18/11/2020 20:09

I'm starting to think your on the wrong thread. This is Sig plc, I ask because earlier you demonstrated your not great with colours.

[thomasearnshaw] 18/11/2020 19:33

Wondered how SHI are to pay the £45.8m deferred VAT in 2 months time?


Major worry