Smc Share Discussion Threads

[latifs100] 02/10/2007 12:32

wots the reason for the drop..no rns.. bot the other day at 18p after results.tia

[just looking] 02/10/2007 09:26

21% drop on nothing. Never won on this one might have a quick trade. Then again how low can this go.

Edit

On second thoughts 3 tades of this share 3 losses. Sorry to here the size of some peoples losses. All been there in a relative way never feels good.

[izzywizzy] 02/10/2007 09:24

I try not to feel bitter...but it is bloody difficult!

Thanks to the above posters for your sentiments.... appreciated.

[njp] 02/10/2007 09:14

A rights issue at this level would terminate any hopes that this might swiftly return above 50p.

Sorry to hear about your losses, izzy. That's certainly painful!

[marvelman] 02/10/2007 09:10

Izzy

Can imagine your feelings..I lost too as most have done who have been in this disaster. I too dont hold but do hold AUK and cant bring myself to sell a successful company when it is being brought down solely by this lot. Am hoping that the deal falls through but does look as if it might not judging by both companies share price reflecting a rights issue (no doubt favouring the "boys" again)

[kumala] 02/10/2007 09:10

and to think i thought the turn around was going to be at circa 90p, and silly me bought 4 times at that level and just above.
Not lost as much as you izzy, that must hurt big time, but still sitting on a prety hefty loss. still holding (no point in selling now at this level) and hope to see some higher ground at some stage. ! ! !
Good luck
K

[izzywizzy] 02/10/2007 08:53

I have lost in excess of £70k here...I no longer hold....I hope the Company gets what it deserves!

[marvelman] 02/10/2007 08:29

Bob

You can get into serious trouble with your hairist discriminational talk, take care or someone will no doubt take offence....but not me...LOL

Certainly looks though that this is make or break soon...really annoys me that it is bringing AUK down with it which is currently no debt and a p/e of 7

[bigbobjoylove] 02/10/2007 08:15

nice to see this going to 0p, coincidently did the big daft ginger who caused the collapse with his huge ego ever get to sell any of his 8 million shares? Hope not.

[paulcaine2003a] 01/10/2007 14:30

I know they are winning a lot of work, and I mean a lot. However, you never know if that is profitable work or not. Was in this a while back and looking on as an interested spectator. May hop in at some stage especially if they can generate pre-tax of 4m for this six months, based on previous forecasts as they are now trading in line.

[jg1882] 27/9/2007 08:21

anyone seen any resarch on SMC lately, Numis not publishing bc of compliance on AUK deal.

[jg1882] 27/9/2007 08:20

fair point, 25p near term and then wait for update in January

[njp] 27/9/2007 08:18

Just don't expect too much of a recovery in the share price until we see evidence that the business is recovering, resolution of the deferred consideration liabilities and what's happening with the Aukett talks.

[jg1882] 27/9/2007 08:01

As previously announced we have recently refinanced the Group's debt position.
Our bankers have been particularly supportive and have confirmed that they will
continue to be so as we begin the next stage of recovery. We are working with
providers of finance and vendors to ensure that the Group's deferred
consideration liabilities are appropriately funded.


With the improved performance now evident following the changes made the Group
is well positioned to drive improved financial results thereby increasing
shareholder value. Thanks to everyone's support and patience, the prospects for
SMC are looking a good deal brighter.


No i realise that mgmt credibility in this stock isn't stellar but i feel that this draws a line in the sand of the current slide and we should see a greater degree of certainty between now and the year end. If the can markedly improve the position in H2 the current share price looks too discounted.

[scburbs] 27/9/2007 07:50

jg1882, I think the phrase is debt burden is high, but may not be insurmountable. Not a great time to have a potential financing shortfall!

"Having conducted a review in relation to the interim financial information as at 30th June 2007 the Directors have identified a potential shortfall in relation to the Group's ability to meet the cash element of estimated contractual contingent consideration payments in July 2008. However the Board is taking steps including the renegotiation of contingent consideration obligations, seeking additional debt facilities and improving cash flow from working capital which in their opinion will give the Group every prospect of meeting its liabilities as they fall due for the foreseeable future and therefore have continued to adopt the going concern basis in the preparation of these financial statements. The interim financial information does not include any adjustments that might result if the directors were unsuccessful in putting these measures in place."

[jg1882] 27/9/2007 07:40

the share price at these levels assumes a lot of dilution and poor trading. Debt burden is high but not insurmountable. If the business wasn't generating the necessary profit and cash to cover payments the banks would have pulled the plugs already.

[njp] 27/9/2007 07:37

The business looks as though it could achieve £6m pre-tax if turnover carries on at the same level That's the good news.

On the negative, we have £19m of debt (and that excludes anything which might lurk in current payables), and deferred consideration which is still being negotiated. Then there's the question of whether they'll agree terms with Aukett.

Short term gains possble here but too much uncertainty as yet for me.

[jg1882] 27/9/2007 07:37

all it needs to do is get back to 40p and im evens!! another 90%+ to go

[izzywizzy] 27/9/2007 07:36

It makes a welcome change to see the share price moving up!

[jg1882] 27/9/2007 07:32

think you are probably right.....shame it wasn't clarified what the underlying improvement was in financial terms in July and August or what the current run rate is in terms of profit going forward. Negotiations on deferred consideration is a plus as well given that too much more dilution would be a killer.

More positive now, hope to see s price rebuild from here

[izzywizzy] 27/9/2007 07:28

I think the share price has been dragged down on the 'fear' factor of the results..... the results aren't as bad as what might have been expected....imho

[njp] 27/9/2007 06:49

Debt is nasty, though. Looks like a continued 'watching brief' for me.

[izzywizzy] 27/9/2007 06:47

Much 'better' than I had expected....thank goodness!