Sigma Capital Share Discussion Threads

[nikesh2] 29/8/2006 15:02

things looking good, looking to get in for about 50k of shares

[red ninja] 14/6/2006 17:35

Growth Company Investor show 21st June 2006, The Barbican, London
Sigma Technology presenting at 13:10

[tuffbet] 08/6/2006 16:52

Good news on the property side as I expected/predicted.

Encouraging that the shares managed to rise today against a dire market but personally if the American side of things turns out as bad as it has been shaping up to be we could be in for a real downer even from here.

Sigma at least has the dual advantage of not being a widely traded stock nor one in which recent big gains have been made ie last month or two so it may be better protected than most - that said I have my tin hat on and am expecting a rough passage for some months- hope I am wrong - anyone take the opposite view ? If so why ?

[red ninja] 12/5/2006 09:28

Good news Al.

Well they have till June to take up their options and they could never buy any appreciable number of SGM shares in the market.

[arnoldlane] 12/5/2006 09:23

Of more direct interest to Sigma is the news today that IP Group (the new name for IP2IPO) has raised £16.8m in a placing, for development of university tie-ups. IP Group have an option to buy an additional 15% of Sigma at 40p. This placing increases the likelihood that IP Group will take up it's option. The price should mark up to this level, which would be a short term gain of some 48%!!!

al

[red ninja] 11/5/2006 19:33

SGM Holders might be interested in a SGM competitor in University spin outs :-

Buy Braveheart Ventures on listing
Says Monisha Varadan of Allnewissues.com
A Scottish based business angels consortium, Braveheart Ventures, has announced its intention to list on 2nd May. The venture capital group started out in 1997 with a view to fund emerging university spin out projects and has, over the last nine years, built up a portfolio of Scottish successes like Wolfson Microelectronics, Optos and Eleksen which, itself, listed yesterday. Braveheart has stakes in 18 companies at the moment and has delivered an internal rate of return of 37% to its 100 shareholders. The group is soon to set off on a roadshow to raise 20 million pounds, capitalising the company between 30 and 40 million pounds. The stock is expected to start trading on AIM later this month.

The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. Allnewissues.com is owned by t1ps.com Ltd which is authorised and regulated by the FSA and can be contacted at 49 Rivington St, London EC2A 3QB or on 0207 033 9389

Operations - Braveheart, named after the Scottish "freedom fighter", was formed just over nine years ago when Geoffrey Thomson and three other mates met at an American style diner to discuss the lack of seed capital and business angel investing in Scotland. The foursome contacted six other friends who invested amounts as little as 2000 pounds into the business with a view to setting up a co-investment vehicle so they could pool their money and knowledge to reduce risk. Braveheart started out as an informal investment syndicate and over the years, there was a gradual transition towards becoming a recognised investment management company. This process was completed when Braveheart acquired FSA authorisation in 2004.

Braveheart has close links with seven Scottish Universities and two science parks - Dundee, Heriot Watt, Robert Gordon, St Andrews, Strathclyde and Glasgow universities along with Hillington Innovation Centre and the Alba Centre. However, it is unlike any other tech transfer, university IPO spin out company as it operates two divisions, one of which is entirely profitable. One arm of the business holds the portfolio of investments and the division chooses entrances and exits that would be most profitable for the company. The second division operates as an investment management centre, managing portfolios for various high net worth individuals and charging a fee for its services. Most of these high net worth individuals are shareholders in Braveheart and take up board positions at the portfolio companies. The two divisions provide the company with a mix of both regular and transparent revenue streams and exceptional super income from the realisation of investments on exit.

Over the last nine years, the group has floated 5 companies both on AIM and the main market, completed 2 trade sales, achieved 15 exits, and has suffered 8 complete write offs. In November 2003, Braveheart achieved its first IPO of a portfolio company with the floatation of Wolfson Microelectronics. Wolfson raised 50 million pounds and is now capitalised at 250 million pounds.

Business Development - Braveheart continues to make investments in young, emerging unlisted companies. Typically its investments are focussed on companies with global technology solutions, however it maintains limited exposure to more traditional businesses. Out of several hundred business plans received, typically ten investments are chosen each year, all of which present a pre-determined exit potential. Potential investments typically come to the group through one of the three principal routes - university projects, semi-mature companies via venture capital connections and later stage investments via pre-emption rights. Braveheart views itself in Phase 3 of a four stage development. Having established the business and realising profits, it has now come to market to IPO and hopes to return to the market in a few years time to raise further funds to take the business to the next level. It intends to deploy the funds raised into further new projects and possibly even start separate dedicated funds that cater to IP spin outs from university. Thomson also said that he might use the additional funds to 'sniff around the market for acquisition opportunities'.

Management - The board comprises: Garry Watson, Chairman, formerly Managing Director of Hill Samuel Bank and current a Director and Chairman of the Audit Committee of Places for People Group. Geoffrey Thomson, CEO, one of the founders of Braveheart and a well known deal maker and business angel. He ran his own venture capital business and spent five years as a company doctor. Carolyn Smith, Investment Director has spent five years working in insolvency and five years working in private equity before joining Braveheart.

Investment Conclusion - How does one value an atypical investment group like Braveheart? Surely not just on the basis of funds managed, number of portfolio of companies or returns on exit as this is a business that also runs a profitable division managing investments for high net worth individuals. Maybe on successes in the past - Wolfson Microelectronics, Micro-emissive displays, Optos, The Clapham House? Or even the 37% internal return rate achieved over the last nine years? We feel that a 30 - 40 million pound capitalisation, given that the group will be holding 20 million pounds in cash and a portfolio of 18 investments is not too high a price to pay. Braveheart is a speculative buy.

Contact Details - Panmure Gordon - 020 7459 3600

[red ninja] 02/5/2006 14:58

Peter Shearlocks Small stock Picks tipsheet update :-

Sigma does its first university deal

After last week's news of a big property deal, Sigma Technology has followed up with its first university spin-out deal. It has set up a long-term partnership with the Robert Gordon University in Aberdeen, which came top of a Times Higher Education Supplement survey of UK universities for income generated from commercial sales and consultancy. Sigma will get equity in spin-offs it helps to commercialise. It will also be setting up a fund to invest in RGU spin-out companies.

The news is very positive for Sigma. Strangely, though, there is no mention of IP2IPO, with whom Sigma established a partnership deal a year ago to exploit the Scottish university scene. Sigma is to change its name to Sigma Capital, which is a better reflection of the breadth of its business. Up from the 21p at which they were tipped here in August last year to a current 26p, the shares remain a hold.

[red ninja] 25/4/2006 15:36

Tuffbet,

The VC investment markdown is a cause for concern. I comfort myself with the thoughts that valuations can suffer in the early years and that while the spotlight is on commodities some technology share prices are looking cheap.

However, the property portfolio, fund management success and the university tie-up for me point to a business with a hopefully a good developing future. If they tie up one university they can tie up more and following the IP2IPO model should see them gather some golden nuggets.

Red

PS

I don't think there is a requirement to state the figures with the 84k in the way they did, its just putting the best slant on a continuing disappointment.

[tuffbet] 25/4/2006 14:22

Red Ninja

The writedowns are disappointing - personally I am a bit worried that they are looking for excuses when they go to the length of actually writing...." If the funds' quoted investments were valued at mid market price with no marketability discount, then
the value of Sigma's investment would increase by £84,000 to £1,912,000.'

Does anyone know if it is actually a requirement that they quote the revised figure - if it is then my apologies -if not then for such an insignificant amount they shouldn't bother because it does give the impression they are trying to paper the cracks.

[red ninja] 24/4/2006 09:53

Results to 25/12/05. The property portfolio making good progress which will be further shown by Liverpool deal coming into first half. Fund management business going well with news of the Robert Gordon University tie up.

The one area of dissapointment is the markdown in the venture captital investments of 600k. Hopefully as these mature we will see this situation go the other way.

Overall, the company has made very good progress this year (IMO) with the property, fund managment and university tie up making promises of progress for the future.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Preliminary Results for the year ended 31 December 2005

Sigma Technology Group plc (AIM: SGM) ('Sigma' or the 'Group'), the investment
management and corporate advisory group, which currently focuses on three areas:
specialist fund management, property and commercialisation of University IP, is
pleased to announce its preliminary results for the year ended 31 December 2005.


Brian Hadfield, Chairman, said:


'Sigma has made significant progress in 2005 across all areas of its business.
The work it has undertaken during the year has resulted in the first closing of
a new £6 million fund in the sustainable energy sector in January 2006 and in a
Heads of Agreement for its first University relationship with Robert Gordon
University. The property sector closed three transactions during the year. We
look forward to an exciting year ahead and the Directors anticipate a strong
performance from all areas of the business in 2006.'

24 April 2006


Operational highlights


• Launch of Sigma Sustainable Energies Fund in January 2006:

- first closing £6.0 million

- FTSE 100 utility company Scottish & Southern Energy plc a trade investor

- long term fund management contract

- first investment made in Ocean Power Delivery Limited, an off shore
wave energy company


• High level of investment activity:

- 18 transactions completed across the Group in 2005

- flotation of one investee company, Vividas Group plc, on AIM


• Property subsidiary - Strategic Investment Management Limited:

- disposed of 2 properties for a total consideration of £43.8 million

- completed acquisition of £36.2 million head office building

- post year end completed acquisition of a £46.5 million pre-let
development property- generated fees of £2.2 million


• Heads of Agreement signed for first university relationship with Robert
Gordon University:

- long term partnership re spin out of Intellectual Property (IP)

- Sigma to receive equity and licensing revenue for its services

- intention to establish Sigma managed fund for investment in spin out
companies


• Proposed change of name to Sigma Capital Group plc


Financial highlights


• Turnover up 49% to £3.33 million (2004: £2.23 million)
• PBT before write down of investments increased by 147% to £0.64 million
(2004: £0.26 million)
• Earnings per share excluding write down of investments up 39% to 0.64p
(2004: 0.46p)
• Cash balances increased to £2.0 million (2004: £0.9 million)







ENQUIRIES:
Sigma Technology Group plc
Neil Crabb, Joint Managing Director Tel: [phone]
Graham Barnet, Joint Managing Director Tel: [phone]

Buchanan Communications
Diane Stewart/Isabel Podda/Amy Rajendran Tel: [phone]


Sigma Technology Group plc

Preliminary Results for the year ended 31 December 2005


CHAIRMAN'S STATEMENT


The Group continued to make progress during 2005. Turnover increased by 49% to
£3,332,000 (2004: £2,230,000) and included the consolidation of Sigma's
subsidiary, Strategic Investment Management Limited ('Si Management'), for the
full year. The Group reported an increase of 147% in profit before tax and write
down of investments of £639,000 (2004: £259,000). During the year, Sigma worked
on its stated strategy of increasing funds under management and broadening its
business model as manifested in the development of relationships with Scottish
Universities. This effort bore fruit in 2006 with the first closing of the Sigma
Sustainable Energies Fund ('Sustainable Energies Fund') and signed Heads of
Agreement on its first university partnership. Si Management also had a good
year with the completion of one property limited partnership and the sale of two
properties and this has continued into 2006 with the completion of a further
property limited partnership. The Group has continued to keep its overheads
under control and is profitable at an operating level in the year to date. The
Group's cash balances increased to £1,995,000 (2004: £858,000).

Fund management

Sigma established a further long-term fund with the first closing of the
Sustainable Energies Fund in January 2006, with funds under management of £6
million. As well as being the fund manager, Sigma has committed to invest
£400,000. The Sustainable Energies Fund will provide funding for companies
developing sustainable energy technologies and has attracted limited partners
from both public and private sectors including the FTSE 100 utility company,
Scottish & Southern Energy plc, which committed £2.4 million. Other investors
are the European Regional Development Fund (£2.4 million), Scottish Enterprise
Fife (£500,000) and a group of private investors (£300,000). This fund will
remain open to additional investors until January 2007 and Sigma is actively
seeking further limited partners.


The Sustainable Energies Fund has just completed its first transaction with
£500,000 invested in Ocean Power Delivery Limited ('OPD'). OPD is an Edinburgh
based offshore wave energy company set up in January 1998 to develop their
Pelamis wave energy converter technology. The company received significant media
interest recently when it secured the world's first order for a wave farm and
began shipping equipment to Portugal in March. Revenue for the last financial
year was £4.8 million and existing investors include Norsk Hydro Technology
Ventures, 3i, Sustainable Asset Management and the Carbon Trust. General
Electric announced last week that it had also taken a stake in OPD.


Sigma's existing funds, the Sigma Technology Venture Fund and the Sigma
Innovation Fund (East of Scotland), made a total of seven new investments and
eight follow on investments during the year. One existing investment, Vividas
Group plc, floated on AIM in March 2005 raising £5.5 million before expenses.
Heads of terms have recently been agreed on the disposal of one fund investment
and corporate activity remains strong.


Property

The property activities of the Group carried out through Si Management put in a
strong performance in 2005. The properties held in the first two limited
partnerships set up by Si Management were sold and generated returns of over 21%
and over 40% to their investors over a period of 2.3 years and 1.7 years
respectively.

Si Limited Partnership No 3, established in 2004 to acquire the Eagle Star head
office building in Cheltenham, was fully capitalised in 2005 at £36.2 million.
Last week, Si Management completed its fourth property acquisition through Si
Limited Partnership No 4. The property acquired was a development office
building in the St Paul's area of Liverpool for £46.5 million. Si Management
earned a gross fee of £2.2 million before third party costs from this
transaction, which will be reflected in Sigma's results in the first half of
2006.

Since 2002, Si Management has raised total funds of over £120 million and
disposed of assets for £44 million.


Universities

Sigma has signed Heads of Agreement for its first university partnership with
Robert Gordon University ('RGU'). A separate press release is being issued
today. This will be a long-term partnership formed to maximise the commercial
value of technologies developed by RGU. The partnership will cover the three
faculties of RGU and areas of particular interest include the research strengths
in Energy and the Environment and Health and Welfare. For its help in
identifying and progressing commercial opportunities, Sigma will receive equity
in any spin-out company and a share of RGU's licensing revenue. Sigma and RGU
also intend to establish a fund to be managed by Sigma and which will invest in
RGU spin-out companies. This is the first visible sign of the progress that has
been made following on from the strategic partnership announced with IP2IPO Ltd
in April 2005.


Investment write-downs

The results of the Group have again been affected by significant investment
write-downs. This is primarily due to the reduction in the price of the quoted
holdings, held directly on Sigma's balance sheet and in the Sigma Technology
Venture Fund.


Restatement of net assets

As reported with the Interim Results, the net assets of the Group have been
restated in line with Financial Reporting Standard 25 Financial Instruments:
Disclosure and Presentation. This requires Sigma's preference shares and the
preference shares in Si Management not held by Sigma to be included as
liabilities rather than as share capital. The effect is to reduce the net assets
of the Group as at 31 December 2005 by £2,005,000 to £2,748,000 (2004: reduction
of £2,005,000 to £2,567,000).


Change of name

The Board is to propose at the AGM that the company change its name to Sigma
Capital Group plc. Your Board considers that the proposed name better reflects
the breadth of Sigma's current activities.


Outlook

The fund management business should continue to build on its objective of
growing funds under management, while we would expect to see both a steady rate
of new investment and, increasingly, realisations. Our property activities are
currently more transactional in nature, making the outlook harder to predict,
but we are seeing good deal flow and continue also to review potential
profitable exits afforded by the strong underlying market. We are encouraged to
have reached agreement on our first relationship with a University, and believe
that our interaction in this area gives another opportunity to build significant
long term capital value within the Group by exploiting our existing skills. With
ongoing tight control of costs the Board is optimistic of continued progress
during 2006.



Brian Hadfield

Chairman


24 April 2006

Sigma Technology Group plc

Preliminary Results for the year ended 31 December 2005



CONSOLIDATED PROFIT AND LOSS ACCOUNT


For the year ended 31 December 2005

Audited Audited
Notes 2005 2004
£'000 £'000

Turnover 3,332 2, 230

Other income 290 177
------- -------
3,622 2,407

Cost of sales (868) (589)

------- -------
Gross profit 2,754 1,818

Operating expenses (net)
------------------------------ ------ ------- -------
Operating expenses (net) before write down of
investments and loans and before transfer to
investments (2,183) (1,668)

Write down of investments and loans (1,005) (996)
------------------------------ ------ ------- -------

(3,188) (2,664)
------- -------
Operating loss (434) (846)

Share of Associates' operating profit - 47
------- -------
Loss on ordinary activities before interest (434) (799)

Net interest receivable - Group 68 58
Net interest receivable - Associates - 4
------- -------
Loss on ordinary activities before taxation (366) (737)

Taxation 4 114 -
------- -------
Loss for the financial year after tax (252) (737)

Minority interests (513) (92)
------- -------
Retained loss for the year (765) (829)
======= =======

Basic loss per share 5 (2.04)p (2.30)p
Diluted loss per share 5 (2.04)p (2.30)p

None of the Group's activities were discontinued during the year and there are
no recognised gains and losses in either year other than those included in the
profit and loss account.

Sigma Technology Group plc

Preliminary Results for the year ended 31 December 2005


CONSOLIDATED BALANCE SHEET


At 31 December 2005


Audited Audited
Notes 2005 2004
£'000 £'000
Fixed assets
Intangible assets 60 -
Tangible assets 69 103
Unquoted investments 6 1,913 2,003
------- -------
2,042 2,106

Current assets
Debtors 1,017 1,644
Investments 374 923
Cash at bank and in hand 1,995 858
------- -------
3,386 3,425
Creditors: amounts falling due within one year
------------------------------- ------ ------- -------
Minority interests - non-equity (1,255) (837)
Other creditors (675) (959)
------------------------------- ------ ------- -------
(1,930) (1,796)
------- -------
Net current assets 1,456 1,629
------- -------
Total assets less current liabilities 3,498 3,735

Creditors: amounts falling due after more than one
year
Minority interests - non-equity - (418)
Preference share capital (750) (750)
------- -------

Net assets 2,748 2,567
======= =======

Capital and reserves
Called-up share capital 381 361
Share premium account 14,043 13,673
Merger reserve (249) (249)
Capital reserve (7) (7)
Profit and loss account (11,372) (10,607)
------- -------

Shareholders' funds 2,796 3,171

Minority interest - equity interests (48) (604)
------- -------
2,748 2,567
======= =======


Sigma Technology Group plc

Preliminary Results for the year ended 31 December 2005


CONSOLIDATED CASH FLOW STATEMENT


For the year ended 31 December 2005
Audited Audited
2005 2004
£'000 £'000
Net cash inflow/(outflow) from operating activities 962 (638)

Returns on investments and servicing of finance 68 58

Taxation - corporation tax paid (6) -

Capital expenditure and financial investment (354) (785)

Acquisitions and disposals - cash acquired with
reclassification of associate to subsidiary - 433
------- --------

Cash inflow/(outflow) before financing and management
of liquid resources 670 (932)

Management of liquid resources 96 10


Financing - issue of equity 371 -

------- --------
Increase/(decrease) in cash in the year 1,137 (922)
======= ========

Reconciliation of net cash flow to movement in net funds

2005 2004
£'000 £'000
Increase/(decrease) in cash in the year 1,137 (922)

Cash outflow/(inflow) from increase/(decrease) in liquid
resources 30 (10)
------- --------
Changes in net debt resulting from cash flow 1,167 (932)
Reclassification of investments from fixed assets to current
assets 20 -
Transfer to investments - 172
Current asset investments written down (599) (487)
------- --------
Movement in net funds in the year 588 (1,247)

Net funds at 1 January 2005 1,781 3,028
------- --------
Net funds at 31 December 2005 2,369 1,781
======= ========


Reconciliation of operating loss to net cash inflow/(outflow) from operating
activities
2005 2004
£'000 £'000
Operating loss (434) (846)
Depreciation charge 52 73
Amortisation charge 2 -
Decrease/(increase) in debtors 925 (1,157)
(Decrease)/increase in creditors (462) 468
Profit on disposal of current asset investments (126) -
Transfer to investments - (172)
Write off of investments and loans 1,005 996
------- --------
Net cash inflow/(outflow) from operating activities 962 (638)
======= ========

Sigma Technology Group plc

Preliminary Results for the year ended 31 December 2005

Analysis of cash flows
Audited Audited
2005 2004
£'000 £'000
Returns on investments and servicing of finance
Interest received 68 58
Interest paid - -
------- --------
68 58
======= ========
Capital expenditure and financial investment
Purchase of tangible fixed assets (18) (9)
Disposal of tangible fixed assets - 1
Purchase of fixed asset investments (358) (814)
Disposal of fixed asset investments 22 37
------- --------
(354) (785)
======= ========

Management of liquid resources
2005 2004
£'000 £'000
Purchase of current asset investments (50) (3)
Disposal of current asset investments 146 13
------ -------
96 10
====== =======


Analysis of changes in net funds

1 January Cash movement Non-cash 31 December
2005 movement 2005
£'000 £'000 £'000 £'000
Cash at bank and
in hand 858 1,137 - 1,995
Current asset
investments 923 30 (579) 374
-------- -------- -------- ---------
Total 1,781 1,167 (579) 2,369
======== ======== ======== =========


The non-cash movements in 2005 are reclassification of an investment from fixed
asset investments to current asset investments (£20,000) and write down of
investments (£599,000).


The non-cash movements in 2004 were: a) Loans due after one year - write off of
loan; b) Current asset investments - write down of investments (£437,000) less
amount transferred to investment in Adventis Group plc (£172,000).


Sigma Technology Group plc

Preliminary Results for the year ended 31 December 2005

NOTES

1. This preliminary announcement was approved by the Board of Directors on
24 April 2006.

2. The financial information set out in this announcement does not
constitute the Group's statutory financial statements for the years ended 31
December 2005 and 2004. Statutory financial statements for 2004 for Sigma
Technology Group plc have been delivered to the Registrar of Companies. The
Company's auditors reported on these financial statements and their report was
unqualified and did not contain a statement under section 237 (2) or (3) of the
Companies Act 1985.

Accounting policies

3. The accounting policies set out in the financial statements for the
year ended 31 December 2004 have been adopted in drawing up the financial
information set out in this announcement together with the accounting policies
for goodwill and for financial liability and equity.

Goodwill arising on consolidation represents the difference between the fair
value of consideration given and the fair value of the identifiable net assets
acquired. Goodwill arising on acquisition of subsidiaries and businesses is
capitalised within intangible fixed assets and is amortised on a straight line
basis over the expected useful economic life of the underlying assets being 20
years in relation to currently recognised goodwill.

Financial liabilities and equity are classified according to the substance of
the financial instrument's contractual obligations rather than the financial
instrument's legal form. The preference shares of the Company are classified as
a liability as these are redeemable for a fixed amount as soon as the Company
has distributable reserves to enable it to do so. The non-equity minority
interests are classified as a liability as these are redeemable for a fixed
amount at a fixed date.

Taxation

4. The tax credit is arrived at as follows:
2005 2004
£'000 £'000
UK corporation tax - current tax on profits of the year (184) -
Deferred tax - recognition of losses 298 -
-------- --------
Taxation on profit on ordinary activities 114 -
-------- --------

The charge to taxation arises in the Company's subsidiary, Si Management. The
deferred tax asset in this subsidiary is recognised in the balance sheet as Si
Management anticipates making sufficient taxable profits to utilise its
unrelieved trading losses.

Loss per share

5. The calculations of loss per share are based on a loss after taxation and
minority interests of £765,000 (2004: loss £829,000) and on the weighted average
number of ordinary shares outstanding during the year ended 31 December 2005 of
37,502,657 (2004: 36,093,540).

Diluted loss per share is calculated by adjusting the weighted average number of
ordinary shares in issue on the assumption of conversion of all dilutive
potential ordinary shares. The Group has only one category of dilutive ordinary
shares, those share options granted where the exercise price is less than the
average price of the Company's shares during the year. The calculation of
diluted loss per share is based on the same loss figures as above and on the
number of dilutive ordinary shares outstanding during the year ended 31 December
2005 of 37,713,985 (2004: 36,300,022). However, as the dilutive effect is to
reduce the net loss per share, the effect is not shown and diluted loss per
share is the same as the basic loss per share.

Investments

6. In accordance with Sigma's accounting policies, its investment in its managed
funds is included in the financial statements at cost less provision for
impairment. However, within the actual funds, the investments are valued in
accordance with BVCA Guidelines, which for quoted investments is bid price plus
a marketability discount where appropriate and for unquoted investments is
estimated current value which can be greater than or less than cost. At 31
December 2005, Sigma's investment in its managed funds is included in the
balance sheet at £1,828,000. Applying Sigma's respective percentage holdings to
the value of the funds as determined in accordance with BVCA Guidelines, the
value of Sigma's investment remains at £1,828,000. If the funds' quoted
investments were valued at mid market price with no marketability discount, then
the value of Sigma's investment would increase by £84,000 to £1,912,000.

[tuffbet] 20/4/2006 11:06

My guess is that as they see the profit potential in the property division there will be a greater focus in this area in future - the new REITS market is a very positive development for the whole property sector and I don't think that UK investors have ,as yet,realised the significance of this new market in terms of the potential for new money flowing into the sector and the knockon effect that should have on property prices - all other things being equal.

Anyone wanting a reference point or update on the development of the REIT market should have a look at the latest Budget notes which can be found here.

[tuffbet] 12/4/2006 11:22

well we know not why the share price is up 100% since the start of 2006,but as trend followers will tell us ,the price is all you need to know -their view is you can if you wish find out later why the price is strongly trending in one direction but often if you try and work it out the action takes place while you are wondering why and most of the upside is gone.

My guess as I said before is that something positive has happened on the property side but we will know soon enough .

For the moment I am in the trend folowers camp especially as the price is firming against a market that's falling

[oregano] 12/4/2006 11:02

A huge move today in a soggy market. Surely good news coming in results on the 24th. IPO2IPO exercising their option to increase their stake at 40p a possiblity? there does not appear to be stock available in the market

[red ninja] 12/4/2006 10:29

Up another 4p (15%+) currently today.

A trade has just gone through for 26500 at 30p. Given how these have recovered that is either an optomist buying or there is some good news coming in the results.

[red ninja] 09/4/2006 12:58

Maybe, SGM is a favourite of Growth Investor so it could just be punters taking advantage of the relatively low price on the basis that the company might have some good news in the results. It doesn't really take too much volume either way to move the share price as the market in the share is pretty limited.

On the other hand maybe you have hit the nail on the head and SGM will at last please its shareholders.

[tuffbet] 08/4/2006 16:15

20,000 shares sold Friday but price up another 4.4% - something is happening here as the graph suggests -it's up nearly 70% since January low with no news driver so someone knows something I don't .

I still think someone has an order in for stock in advance of the results otherwise the MM are playing a very strange game.

[tuffbet] 04/4/2006 08:50

bid offer spread has narrowed substantally - could be wrong because it's all a game of bluff and counter bluff but that narrowing suggests to me the MMs are looking to encourage some sales because they have orders for stock prior to the results - we shall see - I am expecting some good news from the property side.

[red ninja] 30/1/2006 11:13

Tuffbet,

Well its encouraging that SSE have invested through them, it is most definately a vote of confidence.

SGM is one of those investments that require patience. One day there will hopefully be an RNS of a university tie up.

Meanwhile SGMs property, funds management businesses and vc investments seem to be steadily developing.

Red

[tuffbet] 30/1/2006 11:07

I think its quite a significant feather in SGMs cap to get a FTSE 100 co like SSE on board .
SSe themselves are a very significant,well managed and very profitable company so they will have done their due diligence on Sigma .

I have a feeling SSE themselves may be subject to a bid before this year is out so that might add some extra soice later depending upon who the bidder is .


Property and Technology are two rather nice areas to be in at the moment as is anything to do with environmental cleaning especially with ower shortages seen as a long rather than a short term problem so Sigma are nicely placed -I know an investment like this needs patience so I am happy with the way things are shaping up.

[red ninja] 30/1/2006 10:02

More generally positive news today :-

Sigma Technology Group PLC today announced the establishment of a new ten-year fund for investment in
sustainable energy technologies, with a first closing at £6 million.
Sigma Technology Management Limited will act as fund manager and, in line with Sigma's strategy of growing funds under management; the fund will be Sigma's third active fund mandate.
The Sigma Sustainable Energies Fund has been raised to provide funding for companies developing sustainable energy technologies and has attracted limited partners from both public and private sectors.

It should add a few quid ion the revenue side which is always beneficial.

[arnoldlane] 10/1/2006 08:58

Red,

Cheers for your reply.

Nothing wrong with bias...it's prejudice one has to worry about!

It will be interesting to see if all the "stale bull" IP2IPO'ers jump back on on the back on any university announcement.

Cheers

al

[red ninja] 10/1/2006 07:41

Arnoldlane,

Header news items will be lost eventually, but if posted in thread will stay.

I believe SGM is not trading at too much of premium to its net worth.

However, it is working on signing a tech agreement with a Scottish university.
If it were to sign such a deal there should be good upside.

Meanwhile its property and Venture Capital investments seem to be developing although these improvement will be seen over a longer time plan.

I'm a holder so am biased.

Red

[arnoldlane] 10/1/2006 07:18

Red Ninja,

Repeating the news items that are included on the header seems a bit pointless.

Have you any views on this stock, which seems to be very undercovered?

I have noticed a bit more volume in recent weeks and this has seen a recovery in the price. Any thoughts?

al