Signature Aviation Share Discussion Threads

[prokartace] 22/9/2006 07:56

Cbird

Well, yes it certainly does not make sense to sit around with a bunch of cash so that the suitor can finance his purchase with your cash. It also pulls out all the loose shareholders so that in a vote later on there is more likely to be less support for the takeover. Correct me if I'm wrong but it is purely a coincidence as the buyback scheme started before the rumours of a takeover, unless the directors already knew.

Also if H Samuel is sold of to Ratner for £200mil there will be more cash in the pot for future share purchases.

Rich

[seabird] 21/9/2006 16:35

Rich

Many thanks for that explanation - another 800,000 just bought.

Do you think this is also a way of keeping the share price relatively higher than would be otherwise - thereby making it more diificult for a possible suitor? The board appear to be against a t/o.

Cbird

[prokartace] 21/9/2006 13:36

seabird:

On 14 July 2006 the Company announced a programme to purchase its own ordinary
shares. The shares will either be cancelled or held in treasury. The Company is
targeting to buy approximately #50 million before its fiscal year end on 3
February 2007 and in the first half purchased 3.2 million shares for #3.1
million.

The company is well run and has a gearing of only 15%. One of the ways to return share holder value is to buy back shares if the company currently does not need the cash for expansion. The aim is to reduce the number of shares outstanding which in turn improves the earnings per share and therefore should push up the share price.

Rich

[seabird] 19/9/2006 17:41

Any idea why Signet buying own shares lately?

[drunker50] 01/9/2006 12:03

I forgot about bauger WE COULD SEE A BIDDING WAR.

[drunker50] 01/9/2006 12:01

Just watched a interview with ratner on sky news and he is very exited about taking the uk division and it looks like he will pay it's worth to get it.
The last words from the reporter were WELCOME BACK MR RATNER .

[drunker50] 31/8/2006 13:09

1 more little push higher and we have a GOLDEN CROSS. 50 THRU 200.

[Abuse team] 31/8/2006 03:49

Post removed by ADVFN

[spob] 31/8/2006 03:35

Try Here Ash

[Abuse team] 31/8/2006 03:17

Post removed by ADVFN

[spob] 31/8/2006 02:19

LONDON (AFX) - Terry Burman, chief executive of Signet Group PLC, has
insisted the Anglo-American jewellery retailer's UK business -- 590 stores
trading as H Samuel, Ernest Jones and Leslie Davis -- is "simply not up for
sale" and labelled the 200 mln stg level of a possible offer from Gerald Ratner
as "absurd".
His comments came after Signet reported an expected 12 pct increase in
first-half pretax profit.
Last week Apax Partners and Kohlberg Kravis Roberts (KKR), the private
equity groups, dropped plans for an offer for Signet that was expected to value
the group at 2.3 bln stg.
However, the jeweller Gerald Ratner remains keen to bid for Signet's UK
business, while Baugur, the Icelandic investor that owns the Goldsmiths and
Mappin & Webb jewellers, is understood to be watching developments closely.
"It's a good business, it's a core part of our operations, it earns strong
profits (50 mln stg last year), has good operating metrics (10.5 pct operating
margin, 26.5 pct return on capital last year), and produces a strong cash flow,"
Burman told reporters.
He wouldn't be drawn on whether Signet has had contact with possible suitors
for its UK business, but he stressed the board is aware of its fiduciary duty to
consider offers.
"We, like any board, would be required to consider and should consider any
offer that meaningfully improves shareholder value and we would define that as a
premium to that which we could accomplish on our own," he said.
"Whether we have contact or not is not something we would comment on, if we
had an offer that we were required to announce we would announce."
Ratner is reported to be considering an offer of 150-200 mln stg.
"That's an absurd number," maintained Burman. "Businesses don't sell for
four times EBIT (earnings before interest and tax)."
Ratner, who has hired the accountants BDO Stoy Hayward to assist with his
bid and is reported to be in talks with a consortium of financial backers led by
Royal Bank of Scotland Group PLC, was not immediately available for comment.
For the 26 weeks to July 29, Signet made a profit before tax of 58.3 mln
stg, up from 52.1 mln last time.
Within this the US business, 1,257 stores trading as Kay Jewelers, Jared The
Galleria of Jewelry as well as regional names, made an operating profit of 69.1
mln stg, up 13.1 pct. However, the UK business saw operating losses widen to 3.4
mln stg from 2.4 mln.
As Signet had previously flagged, gross margin was lower in both markets.
"The trading environment on both sides of the Atlantic during the important
Christmas period will, as usual, significantly influence the outcome for the
full year," said the CEO.
"The businesses continue to implement initiatives designed to strengthen
their competitive positions and are well placed to compete."
Signet announced second-quarter and first-half sales numbers on Aug 3. The
retailer's total sales increased 12.1 pct to 810.5 mln stg, while like-for-like
sales, which strip out the impact of new and closed space, rose 5.2 pct.
Within this, like-for-like sales in the US were up 7.0 pct -- the division
continuing to outpace its key national competitor Zale Corp, with whom Signet
held brief and unsuccessful merger talks in June. Like-for-likes in the UK
division were flat.
The interim dividend is 0.4434 pence, up 7.5 pct, payable from earnings per
share of 2.2 pence, up 10.0 pct.
Signet also detailed its store investment plans for 2006/07. In the US it is
on track to increase space at the top end of an 8-10 pct target range.
Capital expenditure on stores of 90 mln usd is planned, while investment of
115 usd in working capital is anticipated for new stores.
In the UK the retailer plans refurbishments in line with the normal refit
cycle. Capex on stores of 10 mln stg is planned.
By 3.00 pm shares in Signet were up 1-3/4 pence at 108 pence, valuing the
business at 1.87 bln stg.
Credit Suisse said it is reviewing its year to end-January 2007 pretax
profit forecast of 200 mln stg, but does not anticipate a major move in
consensus forecasts.

[jillyann] 30/8/2006 11:51

Personally, I hope that there is no takeover.
The present management seem to be doing a pretty good job and I can see the share price rising well in advance of the likely takeover price on their efforts.
The interims make pretty good reading. This is the quieter of the two halves and a significant increase in profit has been achieved. The second half includes Christmas and if they get that right they should make bumper profits this year.
It will be interesting to see the analyst reaction to this afternoons briefing.

[buzzardweb] 30/8/2006 10:56

Gerald Ratner cannot believe that Signet would take his potential offer of £150-200 million seriously. The Uk part of Signet represents about 25% of the company both in turnover and profits which by my reckoning values it at £500-600 million. What is his game?

[spob] 30/8/2006 09:00

31 08 2005 Interims 05





02 02 2006 Q4 Statement







Calendar
Website financials

[mmurphymi] 10/8/2006 14:51

Can Anyone please advise what happened this morning to the share price I had a stop loss at 110p and have just checked - my stock was sold at 104p. Looking at the Trades on this site the stock did in fact start very low this morning - but the volumes were also low, so why the brief drop in price?

[hot_property] 04/8/2006 10:33

news means nothing the chart with custom indcators pre-tells a price boost, I have never looked at news I was on advanced data analysis and Quantitive Decision Making Methods at 1.19 if it hits there today I will short £100 a point the probability ratio says today is one of the biggest historic gains in one day.... you should trade stocks like probability odds look at the price data and what has happened before use kelly formula to place trades nothing else is needed...

[w.bramley] 04/8/2006 10:16

There may be something in these posible bids? however without a bid, I think the present price is justified, but if a serious bid is launched, then so well and good. which I think makes the stock a strong hold.

[master rsi] 03/8/2006 15:33

On this mid morning Telegraph. com ...........

Signet climbs to top of FTSE 250

(Filed: 03/08/2006)

UK stock markets drifted in early dealings, with the FTSE 100 shedding 45.9 to 5886.2 and the FTSE 250 easing 26.4 to 9367.6. Volumes were on the subdued side due to the summer holiday.

Still, there were plenty of stories to generate dealers' interest. Broadcaster ITV was again a good riser, up 2.5pc at 104p as rumours persisted that chief executive Charles Allen is likely to step down as early as next week in a move which would lead to a major reshuffle. There are also hopes that the group is still a takeover target, for a private equity predator or Roger Parry, the chairman of Johnston Press.

Wm Morrison posted the biggest gain for a blue-chip stock, up 5pc at 216p as the supermarket group's sales update pleased investors.

However, interim figures from chemical company ICI and consumer products group Unilever did not go down as well. ICI slid 4pc to 361p and Unilever retreated 4pc to £12.36.

Signet climbed to the top of the FTSE 250 leaderboard, surging 18pc to 120p after private equity firms Apax Partners and Kohlberg Kravis Roberts said they were considering a bid for the owner of high-street stores H Samuel and Ernest Jones. Dealers speculated an offer would be pitched at around 132p a share. In June, Signet admitted it had held merger talks with US rival Zale, although these talks ended just a few days later.

Engineer Cookson, which posted good interim figures yesterday but eased on profit taking, edged up 4pc to 528p. Merrill Lynch said the sharp decline in the share price was "unwarranted" and it upgraded its rating on the stock from neutral to buy with a 610p target.

Defence group Ultra Electronics shed 4pc to 982p. Credit Suisse repeated its underperform rating on the stock.

[what is a login ?] 03/8/2006 14:13

You were indeed right, Hot Property! I am glad I kept hold of my SIG shares. The Today programme on Radio 4 said that Gerald Ratner wants to buy back Samuel's too. But he was not availble to comment as he was out "riding his bike". They must've phoned him up. .... Bling Bling....

[w.bramley] 03/8/2006 10:10

Seems a little odd, that 2.3bln is being offered which is the same amount mentioned in the June offer from Zale, why did that fizzle out? and with regard to G.Ratner showing an interest, (Iwouldn't my breath on that one) that would be a time to quickly sell.