Smc Share Discussion Threads

[izzywizzy] 14/6/2007 07:51

cheers NJP,
I wasn't having a go at you - I just wish I had never heard of the Company, it has 'taken' 95% of my investment resources (despite my investing in PRM!).
Yes, I am now sitting in hope for a few pence upwards over the next week or so... it is simply hope - not expectation.

[njp] 13/6/2007 21:40

izzy

Not trying to rewrite history and I apologise if so it seems. I've been deceived like many others by their false assurances. But to hold beyond that further p/w on the 25th was crazy IMO. I wish you all the best, but it's hope against logic here, now.

I was also attempting to say that one should attempt to learn from mistakes such as these. I've learned plenty.

[oakville] 13/6/2007 20:19

i will not buy any more until we are in the 20s

[peter119] 13/6/2007 17:19

get into ici,blue chip company excellent managment,cash pile,100m prof each qtr,
yield improving

[latifs100] 13/6/2007 17:08

bot at 32p 2day.. may regret it.. but after agm, surprised it fell 17%.

[izzywizzy] 13/6/2007 15:08

gary - agreed.
masurenguy - I said 'some' on here....not all.

[gary102] 13/6/2007 14:42

Yeah but to be fair your only picking choice responses, your first message was 4550, we are on message 7282, that's another 2700 messages. Looking at it now it was very high risk to buy into SMC after the first profit warning, the signs were there of trouble brewing. But a combination of SMC being tipped by multiple reputable sources including Investors chronicle and the statements signalling a bright future caused some of us to jump in.

So instead of this thread descending into 'I told you so' etc, let's learn our lessons and move on, no point in getting angry at each other, that won't achieve anything.

[dope007] 13/6/2007 13:54

Not with all that debt and goodwill on the books imho.

[izzywizzy] 13/6/2007 13:28

cheers mdin,
am getting a bit sick of some on here speaking with hindsight.

[mdin79] 13/6/2007 13:23

izzy - we ALL sucked into the continuous lies. Only the overcautious were the wise ones. Their pessimistic judgement was spot on.

[izzywizzy] 13/6/2007 13:04

NJP,
Naive, perhaps, but when it was stated (I think?) that external accountants had carried out an audit on WIP etc and everything was now in order why should I have believed otherwise?
The whole saga is a shambles

[mdin79] 13/6/2007 12:51

thanx masurenguy. The post quite rightly echoes the share price performance over the past 48 hours. I think siwel has a point - this is only going in one direction in short to med term. I feel for those who are still holding.

[njp] 13/6/2007 12:29

izzy

Well, if you did, frankly you were naive. Twice now they've contradicted previous statements. The second one, coming only a week or two after confirming revised expectations, should have screamed 'get out' at you.

Little left now but hope they can successfully restructure, because there ought to be a perfectly viable business there. The trouble is that existing shareholders are unlikely to benefit.

[masurenguy] 13/6/2007 12:29

mdin79 - checkout my post #7247 for the link to AliceinWonders account of the AGM.

[mdin79] 13/6/2007 12:28

siwel - you paint such a rosey picture

[siwel100] 13/6/2007 12:21

hvs...That goodwill is only partly paid for. They still have to pay another sum that is 50% greater than the current market cap. On top of that there is the debt.

[izzywizzy] 13/6/2007 12:19

njp,
yep, around the £1 mark....my simple mistake was that I believed what the Board was saying.......silly of me really!

[hvs] 13/6/2007 12:19

So the Board paid very good money for all the "Goodwill" stuffed in thhe Balance Sheet.

What is this "Goodwill" worth now ?

[njp] 13/6/2007 12:16

izzy

There's a significant lesson to be taken from all this. If the story changes significantly, as it did on the very first warning, it's usually best to cut and run. Those that did got out at around 140p.

I'm not sure when you climbed aboard the (good?) ship SMC, but I seem to recall it was around the 100p mark. Since then we've had two further profit warnings, with the most recent coming after the company had assured us all was well. That latest 'change of story' should have convinced anyone still in that the company was in serious trouble and that management were still thrashing about trying to unearth all the skeletons.

Capital preservation should have been a much higher priority here than fear of selling out at the bottom.

[izzywizzy] 13/6/2007 12:02

that is my point....if they dont buy, then neither is anyone else going to.

[masurenguy] 13/6/2007 11:59

"but if all we are getting is half truths and evasive answers to what the hell has gone on then if even the directors dont buy now then why would any outsiders want to risk buying shares now?"

I think that your comment above answers your original question about share purchases !