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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Signet Gbl GBP | SIGG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 57.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 57.50 | 57.50 |
| Top Posts |
|---|
Posted at 23/2/2013 20:51 by deepvalueinvestor It was due to wind up this year but opportunistic investors (Weiss and Laxey) bought 40% a year ago and forced an early wind up but they didn't understand that it would take time so Weiss have been selling recently (I speculate that they don't like new management too ).. I take a 3 year view with an expected return of 70p+ over that period. 90% ( 7% is sterling cash) of the portoflio is non sterling and brazilian investment are hedged to us$ so I estimate nav now at 100p.Although all investments are in wind up mode, it is very difficult to assess liquidity as there are some property investments in Eastern Europe and the Far East. We were expecting 15% cash by now ( estimates of previous management) so current cash figure was a disappointment. The new management, Gottex, started on 1 January and are racing around to assess the portfolio. They will report to the board next week and then we will get an update. I am a significant holder but hopefully the comments above are balanced. I am bearish on markets so I am happy to be patient and potentially accept low returns. I wanted non sterling assets although after the recent drop I have been keen to hedge some of the currency risk but I am in a minority and it is not going to happen. |
Posted at 21/2/2013 16:30 by jaws6 tks for that infonews came Financial Investor Terra Firma has hired investment banks JP Morgan and Morgan Stanley (MS) to advise on the initial public offering of Germany's largest real estate landlord, Deutsche Annington, in what is set to be the country's biggest IPO in more than five years. The IPO of Deutsche Annington Immobilien SE could happen as early as the third quarter, two people familiar with the matter said Thursday. The owner of the company, Guy Hands' Terra Firma Capital Partners Ltd., isn't expected to exit the company completely, but to sell small stakes in several steps, these people said. |
Posted at 21/2/2013 08:42 by skyship DVI - We Nick Greenwood's hunt in packs!When I met NJG he was then younger than me; and I expect he must still be so,,, He is a former merchant banker turned VERY successful private investor - I believe him to be OWEN in that excellent book FREE CAPITAL by Guy Thomas. He is c48y/o. He is a great BUY indicator. |
Posted at 19/2/2013 19:04 by deepvalueinvestor My frustration regarding the current cash figure shouldn't hide the value I see on a 3 year view versus equities, bonds etc. They are clearly not guessing nav but investors wanted a liquidity profile updated monthly and this was perhaps not realistic.Elmfield, what are you expecting from sigg on a 3 month, 1 year and 3 year view? Oh and if you are buying, do so at 57p in the auctions at 11am and 3pm. Every little helps! |
Posted at 05/2/2013 20:28 by deepvalueinvestor Tiltonboy I think my post was too downbeat. I think they simply don't want to pinned down until they have reported to the board. They feel there is significant upside in some of the investments and if I am wrong to be bearish about markets then we could actually make a lot of money over 3 years.They have only been in place for a month so it was unrealistic of me to think that they would be able to give much greater clarity - it is also fair that all investors should be notified together. I think we will both feel better when we get the January nav update. I don't think we should prepare ourselves for bad news at all but we need some patience. Currency is working in our favour. |
Posted at 02/2/2013 08:47 by deepvalueinvestor We very rarely talk about the bull scenario for sigg but the sterling dollar is sub $1.57 so nav will be at 97p+ depending on underlying performance. Nav surprised on the upside in December despite currency moving against us so is it really in the realms of possibility to see nav at 100p+ over the next few months?What is interesting in this scenario is that if the nav goes up 5%, then the share price would need to go up, say 7% to keep the discount the same. However, my suspicion is that when investors see the nav rising and realise that this includes 15% cash and rising, we may eventually get the rerating we have all been waiting for. If not, 33p+ cash in investors pockets by the autumn should focus minds. |
Posted at 29/1/2013 18:21 by deepvalueinvestor Market makers now bidding 56p for 250k as investors look at the effects of currency on Sigg's assets. Happy days. |
Posted at 22/1/2013 18:55 by deepvalueinvestor Indeed tiltonboy but I picked up another 170k in the auctions at 55.5p. I have done some currency analysis since lag nav update on 31 December. All assets are hedged back to the us$ so we have benefitted from the move from $1.625 (which is why I was so pleasantly surprised by the December performance) to $1.585. If all things stay equal then the nav rises to 96p per share. We will get a better idea on 10 February or thereabouts.Surely even the most ardent Sigg bear doesn't really think we won't get back 55.5p+ cash within two years and then a bit more in the following year. The problem is that many investors are bullish about markets and are not bothered with quirky investments like this where you will probably get a small return. However, if the bulls are right and we sell into strength then why not a return of 100p a share over 3 years after management costs? I don't think 100p is a likely scenario at all (80p most likely or 15% pa over 3 years) the bull scenario would provide a 25% annualised return from here. As an aside, I would view a 70p as a great disappointment but even this is 8.5% pa over three years. Let us not forget that the portfolio was originally supposed to start winding up this summer with investments naturally redeeming thereafter. It should therefore not come as a shock if the nav does continue to rise to reflect nearing maturities. Weiss and Laxey ploughed in hoping for a quick buck but with respect to them,it was always going to be a slow progress. |
Posted at 12/1/2013 15:43 by deepvalueinvestor It is unusual for transactions to be dealt outside the spread but I was warned by my dealers that they can get pulled in the last few minutes. Perhaps it is not that common tiltonboy but i rely on their advice. I try and use it only a few minutes before 11am and 3pm to catch them out if we're testing the market but not really concentrating. This strategy also means that you don't get caught by a news release. I guess it is an extra tool for more aware investors that are trying to improve on price in illiquid stock where the price is not really moving. I have used intraday auctions a bit with tli and Spl where the spreads can be wide but many people simply don't bother. You can get caught out though by trying to save a fraction and then missing out when the bid/offer moves. Obviously one can go on the SETS system for larger cap shares and I tend to do this with the likes of dne where the spread is often wide. |
Posted at 27/11/2012 19:51 by deepvalueinvestor Clearly there is now some property assets but feel that the current management were hoping to surprise on the upside in 2013 with a large chunk of "unknown" liquidity. Under promise, over deliver.For example, I hear that Rosneft is involved in Double Haven Temple (Vietnam) so perhaps some of these assets are not as rubbish as they first seem. Can someone confirm Rosneft's involvement? Don't forget that this was originally supposed to start winding up in mid 2013 but some of us wanted to start the process earlier. This means that certain investments were always going to be illiquid until 2013/14. This is arguably what the arbs didn't realise when they piled in and forced the wind up but some of us did. We can all get things wrong and certainly the share price action has taken me by surprise but I still feel the patient investor will be rewarded over the coming years. Some of us picked up stock at 50p-60p after the credit crisis but most investors were in at closer to 100p and have been selling irrationally, to clear their books, in my view. |
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