Share Name Share Symbol Market Type Share ISIN Share Description
Stanley Gibbons Group LSE:SGI London Ordinary Share GB0009628438 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.125p -3.33% 3.625p 3.50p 3.75p 3.875p 3.625p 3.875p 728,429 13:00:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 42.5 -30.2 -16.1 - 6.49

Stanley Gibbons Share Discussion Threads

Showing 7076 to 7098 of 7100 messages
Chat Pages: 284  283  282  281  280  279  278  277  276  275  274  273  Older
DateSubjectAuthorDiscuss
18/1/2018
15:27
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jfree101
18/1/2018
15:26
Itcm1, thanks for your comment. However, I suspect that things are more relaxed than they may appear on here. SG have until the end of May to conclude the new banking facility, but given how conservative the new management are at SG I would imagine this will be concluded either by the end of this month, or later on next month. If the terms are preferential to the old facility, they may be allowed to go onto it immediately which will also help. Just a shame that the Carillion insolvency has meant shareholders having to sell up to make good their positions. Something like that makes holders into forced sellers, despite the low price. Anyway, at least in SG's case, the banks are clearly supportive so let's wait and see what deal they can hammer out. I reckon the current management are capable of putting a pretty good deal together. Just look at the efficient way they dealt with Guernsey after all.
jasdan
18/1/2018
15:02
jasdan your argument clearly is a valid one but it is equally clear imo the banks won't allow SG too much longer to sort their finances out. I hope it works for you, clearly the shares will rocket if someone puts money in.
ltcm1
18/1/2018
14:45
clocktower, you are wrong. Your first paragraph is fine, but clearly you are wrong on the second paragraph. Anyone buying now is basically backing the new board and/or the main shareholders. They are obviously not going to conclude a deal which sees their investment collapse in value. It was right to suggest when the share price was £4 or £3 or £2 that there were dangers in investing in this stock - but we are all geniuses in hindsight. We can now see that this was true, but it is not the same thing as saying that those who are now buying stock are wrong. Reading the Outlook statement, it is clear that the Board is striving to get to certain position with the Bank, once this is done and the refinancing dealt with, the £5m will follow, probably at the same time. Then the share price is likely to revive itself as folk out there realise the company is saved, stabilised, and trading properly again, without the Guernsey liabilities or costs, without Interiors or the Marketplace. There are dangers to investing in any shares, but the Outlook statement gives me enough confidence to buy and hold these shares, especially at the current price levels.
jasdan
18/1/2018
13:18
That is wishful thinking jasdan - because the main shareholders own so much they have control as you say - so can arrange affairs best suited to their own interests, not to the rest of the stakeholders. Rather than suggest those buying are canny - you should be saying beware of the dangers if you are gambling in this stock. If you care to trawl back far enough - I was warning of the dangers investing in the company when the share price was high, as they thought of themselves as expert investment advisers, and were employing a bunch of wishful thinkers in the Channel Islands that the bankers thought were *ankers!
clocktower
18/1/2018
13:06
Fair comment Clocktower, it is conditional. I believe it is definitely achievable. But there are considerable distinctions here between the stakeholders. Large numbers of the shareholders have been wiped out - the stock price collapsed in 2015 from near to £4 to its current level - a 99% drop. On the other hand, anyone buying in in December 2017 is up handsomely as it was possible to buy the shares under 3p. The main shareholders hold 40% of the stock, this was bought around the 10p - 13p level back in 2016 and clearly they therefore have a major incentive in seeing their investment come good. They even control the Board since three of the Board are their representatives. So, my reckoning is that they will do a deal that sees a profit generated for anyone in at these levels, but clearly you will be a complete loss if you were one of the older stock holders from 2015 or before. They will be setting the terms to achieve this, and maintain their stranglehold on the shares, without, I would imagine much or any dilution as they will be the main owners of the new stock. If you look at the resolutions passed at the recent AGM, this was allowed for by those resolutions, which even allowed the resumption of share buy backs - obviously a ludicrous resolution currently, but completely sensible once the rights are issued and the stock price has recovered. The only way to share in this future gain is to buy up stock now in the open market at these obviously very distressed prices, which appears to be what the more canny are now doing, albeit slowly.
jasdan
18/1/2018
12:44
jasdan - the word to consider in the above post is "conditional" What you have to ask is - are meeting the terms of providing the equity achievable? It is to far gone for any value to be left with current stakeholders, some of who have more or less already been wiped out?
clocktower
18/1/2018
12:35
The Outlook statement also advised: 'the Board has received offers of finance from existing and new investors including an offer of equity conditional on the restructuring of the existing debt.' You see, the money has already been offered, existing shareholders will provide it, we will not see a general rights issue as there is no need for it. Clearly the existing debt of £16.8m needs to be restructured, and given the new position where Guernsey no longer is a drain on the Company, as commented before, the debt should fall by around £2m per half year. Moreover, the Board are exploring "improved financing options in the New Year in light of the administration of Guernsey and the significant reduction in contingent liabilities." Again, as pointed out yesterday, the as if figures in the update should really point out sharply to anyone analysing the Outlook how SG is swiftly changing into a more profitable entity. As I have pointed out before, it appears that SG already had the permission for a new banking facility in the bag prior to Guernsey. Now, due to the much reduced liabilities of the group, the bank are willing to renegotiate the facility again, favourably in SG's direction. I cannot see then why this should be viewed negatively by anyone.
jasdan
18/1/2018
12:24
To be fair Itcm1, that is not what the Board said. They instead said: 'the Company requires further investment of approximately £5m in order to enable the growth of the core business and to normalise working capital.' This is because they need to invest in the right sort of stamps for today's market, and have previously been starved of funds with which to buy enough new stock. That is hardly then equal to saying if they don't get £5m they will go bust, is it? They can probably survive indefinitely with the current stock, however, it does not contain enough of what current collectors are looking for, but it is all sellable, high quality stuff. It will just mean they bump along, without increasing sales again. What they instead need is new stock to start boosting sales. I have noticed that a number of the dealers in London seem to have top heavy stock of Malaysia / North Borneo / GB QV / Caribbean when instead current collectors want Middle East, India and Far East items. I'm not sure it is fair to criticise SG over this - at least they have recognised this and trying to reposition themselves.
jasdan
18/1/2018
11:50
ALS is quoting the board. They said they need £5 mill urgently. It will go bust soon if the money is not forthcoming, surely we can all agree about that.
ltcm1
18/1/2018
10:45
Wow Arthur_Lame_Stocks...... Did you compose that sentence all by yourself or did you receive help?
knowledgeablestampman
17/1/2018
18:14
This company will go bust soon.
arthur_lame_stocks
17/1/2018
15:29
Jas, Post 3310 "Once the new banking facility is provided, together with the £5m, they will be in a far better position going forward." Agree with your comment... However, the issue, for me, is the path they take to take to get to that position and the share price reaction will depend on it... and currently nobody knows that, so, for me, uncertainty and lack of clarity...
sikhthetech
17/1/2018
14:47
jasdan hopefully you are right. I get what you are saying in that the shares might be oversold and you couldn't buy quantity at that price. It is a valid argument. Ofcourse if SG were making profit on the scale you are suggesting then the investment would be forthcoming. It would be a nice little business if SG could make 3 million a year for sure. But then if that was happening the share price would start to drift up. Hopefully that will happen soon.
ltcm1
17/1/2018
13:52
Itcm1, with the greatest respect, you are looking at this the wrong way. Indeed you are fixated with the idea that SG is about to go bust like Carillion. As I pointed out before, SG and CLLN are not alike. The banks and major shareholders support SG. The major shareholders represent 40% of the shares, and have three seats on the Board. It is they who will provide the £5m which is why there has been no general rights issue RNS. They will lap up the additional stock which I thoroughly suspect will be issued at a premium to the current share price as it is a done deal and allowed for at the AGM, by the issuance of up to 25% extra stock [which means it must be at a premium to the current price]. You will note as well that the Board is no longer advising that SG is for sale anymore - once the banking facility is redone, and the £5m provided, things will be stabilised. This is proven by analysing the accounts. the recent update as I advised Augustus, is due to see the Current Liabilities disappearing at a rate of knots. Total bank debt as at 27.12.17 was £16.8m and now Guernsey is gone, this should be falling by around £2m per half year. This means, in say a year's time, on a like for like basis, current liabilities are likely to be around £12.8m plus say £3m in operating costs as Guernsey / Marketplace / Interiors etc no longer apply. Suddenly the group is running at a profit again. It can easily then afford its borrowings, indeed the £5m is to allow it to grow, not to pay off borrowings.
jasdan
17/1/2018
12:41
jasdan you may well be right. For someone to inject 5m they would want control of the business, or at least a big say. Maybe potential investors are worried this money would effectively go to the bank, with SG in the same position in a few months time. I know I would be! The trouble is the bank can most likely foreclose any time they like, which is frightening everyone off. Don't they need someone to buy the whole company realistically? Or they could sell all the stock and the brand name to interested parties. It sounds like it boils down to what is the cash value of the stock plus the brand name. You would have thought a buyer for the going concern would have emerged by now but perhaps there are still issues to resolve on that front. There is stock and a brand so there is still hope here.
ltcm1
17/1/2018
09:32
Augustus, where's Willy Wonka when you need him? If you read the latest results, you will realise that the £45.2m includes their bank borrowings - which as we all know are around £17.3m and £27.8m of 'trade and other payables'. The trade and other payables amount refers to the guarantees on the investment funds, these were still in operation at the time covered by these results. As you will see, if you look at the 'as if' figures that SG has kindly also produced at the end of their report, these largely drop out. Interiors equate to £0.65m and Guernsey £17.7m meaning that the liabilities are going through the floor, as I have pointed out on many previous times. You need to read and understand the interims. The banks do - that is why they remain so supportive of SG.
jasdan
16/1/2018
17:48
jasdan, that's all very well. But as of 30th Sept -- their current liabilities were stated as being £45.2m The question is -- what are they now and how are they going to meet them? -------------- Unless the figure has very substantially decreased over the last 3 months --- I can't see how raising £5m will keep the wolves from the door.
augustusgloop
16/1/2018
17:37
And what does your Dad make of it all?
orange1
16/1/2018
17:05
Itcm1, many thanks for your comments. It is an odd thing to me that others have not realised this. You can see with CLLN a textbook example of what happens when debt gets far too big and the banks are not supportive. Debt there was reported to be £1.5 billion, with a need for around £200m immediately required just to cover day to day costs. There seem to be hardly any assets to sell against this, as collateral. With SG, we have £17m of debt, and they want to raise £5m of cash to enable the business to grow again and to be stabilised, but they have £41m of assets [after Guernsey and Interiors are deducted]. There are hardly any liabilities and the loss for the year fell from -£29m to -£3m. It is not exactly the same, and I believe it has heavily helped discussions with the Bank that three of the new SG Board are corporate capital specialists - basically they speak the same language. I am just a private shareholder, and have never worked for SG, but I can see that the Board are about to pull off a major result for shareholders so I do have a lot of faith in them. My view is also enhanced by the fact that they represent 40% of the shares so they clearly have a lot to gain or lose from the situation. If you re-read the Outlook statement from this perspective you will in course draw the same conclusions I have, which is why I have increased my holding over the last few months, clearly, this is contrary to many on here, but time will tell who is right......
jasdan
16/1/2018
10:19
It is interesting what you say about 2016 and why SGI has not gone under before. Perhaps that will end up being a question for the authorities in the coming months if SGI does indeed go into administration. But perhaps the answer is that SGI had stock and value as a going concern and the plan was to stabalise it and find a new buyer. Jasdan you seem to have great faith in the board but maybe they were appointed by the banks and are effectively working for them first and shareholders second. I have read banks have favoured boards for situations such as the one SGI found itself in during 2016. A positive outcome could yet happen, who is to know? As long as the reward if it is saved outweighs the loss if it isn't then the shares are a buy. It is up to you to evaluate the chances.
ltcm1
15/1/2018
13:13
Comparison with Carillion? A friend of mine pointed out to me over the weekend that he felt the current situation with SG was similar to that at Carillion. There are only limited similarities. Sure, both companies were reliant on bank support, and both had issued profit warnings. Both had seen substantial losses for shareholders and needed to renegotiate their banking facilities. But it is there that the comparison ends. Carillion [CLLN] was a massive company working on behalf of the state employing over 20,000 people directly. Its work was crucial to the day to day running of hospitals, schools, roads, railways etc. It dealt with essential maintenance work. SG on the other hand is a tiny company by comparison, with a payroll of 222 staff as at end March 2017, and its business involved the trading of stamps and coins. These are luxury items, representing discretionary spending for their customers. As we now know, SG has managed to ring fence its liabilities, and has cut its trading losses sharply. It is seeking just £5m of new funds, and it would seem to me that the banks are coming to the table with an imminent improved offer on their new banking facility. I feel sorry for the shareholders at CLLN, but there was no way after two rapid slumps in the share price that the company was then going to be able to rescue itself by any sorts of rights issue. What should have warned CLLN investors is that both slumps arose within a six month period = disaster. Whilst SG's price has slumped as well, this was in September 2015 and again in February 2016. It is now January 2018 and the company is not only clearly still trading but about to finalise its new banking facility. As I have pointed out before, if SG was going to collapse as many seem to want on here, it would have happened in early 2016 when things seemed a disaster. However, the bank have instead been 100% behind the company and I can see this company will re-emerge imminently with a new banking facility and £5m cash. CLLN may be a textbook case in a large company going bust, but there is no way that it should be compared with SG.
jasdan
11/1/2018
18:20
Jasdan . the only one who talks drivel, is you brother
superiorshares
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