Sig Share Discussion Threads

[ianio5691] 18/6/2009 11:09

gdasinv2

'Strong balance sheet' Are you having a laugh???

Or am I missing something?

[tanners] 18/6/2009 11:04

gdasinv2.......on what basis do you believe it is undervalued?

[gdasinv2] 18/6/2009 10:36

L&G bought 2.5 million share ...as per last rns, so nothing to panic. Buy this undervalued company

[gdasinv2] 18/6/2009 10:20

GAS price is gone up, in this contaxt there is more need insulation, SIG will fight back, so PATIENCE PATIENCE.....there are bigest insulation by kmt cap with strong balance sheet.

[gcom2] 18/6/2009 10:19

Thanks Tanners good post.

[tanners] 18/6/2009 10:00

gcom2......I think they're claiming that the weather conditions were so bad that things ground to a standstill - I'm always very wary of Companies blaming weather conditions (unless they are umbrella manufacturers), and let's it face it, it weren't that bad!

I would think there is a very strong chance that SIG will now show a bottom line loss after EBITDA and exceptionals, which will obviously put more strain on their banking covenants......if conditions don't pick up rapidly in the next 6 months then there is a real chance this could go bust.

The equity is currently valued at over 500M......personally, when taking into account the level of debt coupled with fast declining profits I would think a fair value is one pretty adjacent to 0p.

They may pull through but there are now doubts, imo.

[gcom2] 18/6/2009 09:45

Okay, I'm being thick here - why does the statement say "extremely cold weather in q1 added to the difficult trading conditions" ????????????

[s34icknote] 18/6/2009 08:39

Lots of Subbies sitting at home in the commercial world !!!
Not looking good. Could they sell komfort off ?

[nilip] 18/6/2009 08:14

More bad news - Extremely dissapointing yet again :-(


"... the Board is confident that the Group will continue to operate within its covenants throughout 2009"


Not sure if the market is that confident though ?

[volvo] 18/6/2009 07:43

Another profit warning and with no future pick up on the horizon this will end up a penny share by 2010.

[dassera] 25/5/2009 20:46

survival of the fittest, etc.

[ianio5691] 22/5/2009 08:43

Rumours rife in the office interiors industry that Komfort, SIGs most profitable interiors distribution division has been put into administration....don't know how true yet.

[kingl] 13/5/2009 13:04

Just goes to show that without increasing acquisitions, companies are unable to hide the true performance. I've been sceptical about the 'growth' reported by SIG for a few years now. The evidence was in the balance sheet rather than the CE's comments, but it was there.

Horrible, horrible news this morning.

It makes my comments in 224 all the more relevant, and hints at anything positive in 225 can now be ignored.

My estimate of 10p eps for 2009 now looks optimistic, and I doubt this can even be achieved in 2010. In fact I really struggle to see how they are going to turn this around even in the long term now. No more acquisitions, just a case of trying to protect market share in falling markets with increasing competition. I would be surprised if the entry of Minster and others into the insulation market has not had an effect that cannot now be defended.

There is no way that these warrant a double digit PER, so I would conclude that these should fall to the placing price of 75p. This is what I thought two months ago, but even more so after this morning's news.

[1nf3rn0] 13/5/2009 11:14

ANy thoughts on the IMS released today? Not a holder of these yet but they are on my radar

[phuckerty] 12/5/2009 18:49

Hi
This is now begining to look good now we have the open offer out of thr way.
Regards

[kbass] 27/4/2009 06:48

Lurking, beware.

[mrt8] 26/3/2009 11:10

I've just been told that by my broker, Dassera, but thanks for your help. I was just about to post the same message. What is your view on the value of the offer/price? I guess the eventual share price is bound to drop when the offer shares become tradeable. Do you think the eventual price will be around halfway between the two, or nearer to today's sp? If the latter then it would be good to take up the offer, I think! m8

[dassera] 23/3/2009 19:15

It's an open offer, not a rights issue, so no way of realising any nil-paid premium. If you don't take up your entitlement, your broker or the underwriter will pocket the difference.

[mrt8] 23/3/2009 18:30

Thanks Gateside, Dassera and daihardtoo, for you replies. daihardtoo, how is that done? I have the rights listed in my online account, but they have no value. Are you saying that, whatever I do, even nothing, they are still worth approx 28p to me? I know that I should not be lazy, and I should look all of this up myself, but you do sem to know what you are talking about! m8

[daihardtoo] 23/3/2009 07:55

MrT8
You don't have to do all of that. You can simply sell your rights at approx 28p each. Or you can sell enough of your rights to raise enough cash to subscribe for the remainder of your shares.

[dassera] 22/3/2009 19:00

Gateside and MrT8 they went xo on 18 March.

[gateside] 21/3/2009 07:06

MrT8...

If you sell your shares now at 103p you will not be entitled to take part in the 'Rights Issue' at 75p. In the same way that if you sell shares before they go Ex-Div you do NOT get the dividend.

Also the day the shares go Ex-Rights you can expect the share price to fall, in the same way that they fall when they go Ex-dividend.

[mrt8] 20/3/2009 16:41

Interesting offer! What is to stop me selling my existing holding at current price (103?), and buying the same number on offer at 75p, ie net gain of 28p per share? m8