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
  +0.00p +0.00% 3.75p 3.50p 4.00p 3.75p 3.75p 3.75p 29,706 05:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 13.4 -8.0 -6.5 - 6.71

Stanley Gibbons Share Discussion Threads

Showing 7326 to 7350 of 7350 messages
Chat Pages: 294  293  292  291  290  289  288  287  286  285  284  283  Older
DateSubjectAuthorDiscuss
28/9/2018
22:30
Why, Jasdan? Because, as Augustasgloop has explained, the company's losses have increased, and there is NO indication in the results of a change of direction regarding their stamp sale/ own catalogue pricing dichotomy. THe buys are doubtless those who, like yourself, view the scene through rose-coloured specs.
balgray
28/9/2018
21:07
Price actually ended today unchanged, but most trades were buys. Nevertheless the MM seem to have marked the price down 0.30p. Why? This was not supported by today's trading which showed support for the shares, rather than a sell off.
jasdan
28/9/2018
13:46
Augustus, the Mallett situation is very old news and is now really a minor matter.
jasdan
28/9/2018
13:01
The legacy issues are certainly not out of the way. "The Group continues to cooperate with the U.S. Securities and Exchange Commission (the "SEC"), following the conclusion of the Department of Justice's ("DOJ") criminal prosecution against a former client, (arising in part out of his dealings with Mallett, Inc) and a New York based former director of Mallett plc. Both the SEC and DOJ are aware that Mallett's new owners were not involved in the events underlying the investigation, and there have been discussions with the SEC regarding resolution of these matters. Whilst no criminal or civil charges have been filed against Mallett Inc. or any Mallett group company to date, we have made an offer to the SEC that would resolve all outstanding issues. We understand that the SEC Staff has recommended acceptance of the settlement offer to the SEC Commission, but as of the date of this Business Review, no decision has been made by the Commission. Any settlement with the SEC will require court approval. "
augustusgloop
28/9/2018
12:57
The loss didn't really shrink - it included a £4.25m profit due to RBS writing down the loan. If this one-off gain (due to effectively going bust) is taken out of the figures, the yearly loss actually increased.
augustusgloop
28/9/2018
11:40
Hmm, just tried to buy some as the price indicates that I should be able to buy sub 4p, but am being quoted 4.2p upwards. Looks like the price is actually unchanged so why is it showing a drop?
jasdan
28/9/2018
11:18
Annual results. Well the loss has shrunk to just under £8m and the EPS has gone up to -2.7p which does indicate that we are about to move into the black. There are some positive comments about the future, but really this is a statement about the mess SG was in earlier in the year, which we all know about. As such, there seems to be little new in it, and I suppose the results are as expected. Now that they have their supply of new stock, and the legacy issues are out of the way, the $99 question really is how fast are they going to move back into profitable territory? Also, when are they going to pay off more of the £10m debt? I also think it is about time the Directors bought some shares.
jasdan
27/9/2018
14:54
jasdan, Whether SG had to buy the stamps back is irrelevant. The article clearly states that SG sold 1,900 stamps to Pheonix for £3.25m and bought 'most' back for £5.2m And £5.2m is the initial consideration - if they sold for £10.2m then the additional £5m profit would go to Pheonix (less commission). ------------- An excellent deal for Pheonix!
augustusgloop
27/9/2018
13:47
Annual trading update I reckon this will show a small loss, but the earnings per share will show a sharp change upwards indicating that the group is about to go into the black. I expect December's half year update to confirm this, boosted by the recent agreement to buy these 1900 stamps. I hope SG come out with a positive sounding update accompanying the full year figures accordingly.
jasdan
27/9/2018
13:44
Augustus, you are not getting it, are you? SG did not have to buy this stock from Phoenix. It was a voluntary deal - they were not forced on them! And it was for 1,900 stamps - read the press article again. If SG thought these stamps were worth £5.2m then I trust their judgement - afterall they were supposedly the collateral to the administration where tens of millions were invested and guaranteed. Therefore, I say again - you will see these now being sold off at good profitable prices which will lead to generation of profits, increased turnover, and share price growth. Unfortunately this is too late for the imminent trading update, but we should start to see the benefits of the extra stock when SG update the market again at the end of December.
jasdan
26/9/2018
18:37
jasdan, SGI (via an administrator) sold 1,900 stamps to Pheonix for £3.25m Then bought some of them back (perhaps just over half) for £5.2m How can that be a good deal? -------------- "Just think logically - do you think a company with SG's well documented cashflow issues would have voluntarily spent £5.2m on 1900 stamps unless they were exceptional?" Firstly they didn't buy the 1,900 stamps --- they bought less than 1,900 Secondly, these are the same stamps that Pheonix paid only £3.25m for - so, they are no more exceptional at £5.2m than they were at £3.25m Thirdly, SGI aren't paying cash - they are paying when they are sold. -------------- Pheonix shafted SGI good and proper. It is now 9 months since SGI gave any real indication of their financial position or how trading is going. That is appalling! The usual adage is 'good news is got out quick, bad news is kept until the last possible moment'
augustusgloop
26/9/2018
17:29
Augustus, as pointed out before, Phoenix's pay-off here is when the shares start moving. Don't you find it odd how little trading there is in them currently a few days before the annual results? Phoenix admitted as much at the meeting in February / March, their involvement is long term and they fully intend to hold the stock for years, they believe SG is badly underpriced so as things stabilise the share price will rally upwards. A similar view was presented in the Aurora posting recently. We are not going to return to the share price level of pre 2015 when these shares traded around £3 - £4 per share, but I am pretty sure we are not going to remain at 4p much longer. The stock has been on life support for some time now, recovery is, I believe, in sight, and this will be confirmed shortly.
jasdan
26/9/2018
17:23
Augustus, think for a minute. No-one else would have got a chance to buy these stamps. The price was inter-company and was I am sure, 'discounted' substantially. I suppose to pass an audit, they had to sell at a supposed profit, but the real profit lays in what SG can flog them for, I think we will see this to be multiples of £5.2m meaning that the share price will rally once turnover accordingly rises. Looks to me like a very sharp deal to provide cheap stock, boost turnover, and then create profit. You're too focused on the £3.25m / £5.2m headline figures - these will be top items that you cannot find elsewhere. There has been hardly any reaction to it simply because SG have not provided any details on what the 1900 stamps are etc, so that we can all gauge what a deal this was. Just think logically - do you think a company with SG's well documented cashflow issues would have voluntarily spent £5.2m on 1900 stamps unless they were exceptional?
jasdan
26/9/2018
16:58
I am surprised that there has not been a load of negative comments about the RNS of 10th September. Pheonix bought 1,900 stamps from the administrators for £3.25m [Meaning that nobody would have paid more for them.] Pheonix then sold these 1,900 stamps into a subsidiary (of Pheonix). The subsidiary then sold most (between 950 and 1,900) of these stamps to Stanley Gibbons for £5.2m (£1.95m more than they paid for ALL 1,900). ----- What a great deal for Pheonix!
augustusgloop
26/9/2018
15:11
Surprisingly low turnover this week. Looks like no-one is interested in the annual results which could be issued on Friday. I hope Directors buy some shares at last - a number of them seem to have not bought any for some time, if they now believe better times are on the horizon, lets see them back it with some skin in the game once the current closed period has ended.
jasdan
26/9/2018
00:04
That's what I have been saying all along. "In total we expect to earn from those 3 items around the same amount as our total investment leaving us with our equity stake of Stanley Gibbons at no cost. Whilst we are owed money, we have a first charge over all the assets of the company." They got 58% of the company for giving them a £10m loan - that will be repaid with interest. Thus, it effectively valued the shares at ZERO.
augustusgloop
25/9/2018
11:55
Waterloo, good post! I think a few of us on here did not realise that private holdings in the sub groups within the PLC were available to investors - we are always talking normally about the overall group. The only comment I would make at this juncture is that whilst I agree with the general sentiment of the comments from Aurora, I have to say that with a stock price of just 4p one can hardly praise Phoenix so far for establishing shareholder value. Hopefully next week when the results come out, we will start to see some positive response in the shares. I believe SG had a good Stampex and that recent auction results have been good. Phoenix need to note that they are not the only shareholders, others of us hold shares and we too want to see a return on our investments.
jasdan
24/9/2018
17:25
Not invested but thought you might be interested in this view of SG hTtps://www.investegate.co.uk/aurora-investment--arr-/rns/half-year-report/201809241602347549B/ Following approval to take up to a 10% holding in a private company at the AGM this year we entered a position in a special purpose vehicle, Phoenix SG Ltd which comprises the assets which make up our investment in Stanley Gibbons PLC. The investment via an SPV is unusual but is structured to protect our downside. The design makes this a far superior investment to one we could have made by just buying equity. As outlined in the last Aurora annual report Phoenix purchased four assets: Stanley Gibbons PLC (SG) equity, a loan owed to the bank, a portfolio of stamps and a receivable from the administration of SG's Guernsey entity. We have bought the written down bank debt, which will be repaid in the next 5 years. Over that same period, we expect sales of the stamps we have purchased and a distribution from the receivable. In total we expect to earn from those 3 items around the same amount as our total investment leaving us with our equity stake of Stanley Gibbons at no cost. Whilst we are owed money, we have a first charge over all the assets of the company. The group has been through a disastrous period of mismanagement which saw it make overpriced acquisitions and distort its core business to serve an investment business which is now in administration. The current board have in the past two years unwound and disposed of those acquisitions, including an antiques business. They also closed the investment business. What we inherit is a company ready to recover based upon its core business in the world of stamp and coin collecting. The group has 2 well-known brands: Stanley Gibbons in stamps, and Baldwins in coins. Stanley Gibbons was founded in 1856 and since 1899 has been located on The Strand in London. Since 1914, the company has held a Royal Warrant for supplying the Royal Household. In the philatelic world, Stanley Gibbons has the pre-eminent reputation and for that stamp buyers are willing to pay a premium because of the lifetime guarantee of authenticity. Stanley Gibbons publishes catalogues that list prices for stamps in the areas in which it specialises, and these are used by the rest of the trade as their reference point. Our vision is that the company can now rebuild and update its business from a single destination location and reach a worldwide audience through an effective digital strategy. The desire to collect and have hobbies, the wherewithal to fund these pursuits, leisure time and good health are all boosted by the prevailing demographic trends. However, to achieve their potential and attract and delight new customers it is essential to modernise and make the most of new technologies and insights. The internet, rather than hurting a business like Stanley Gibbons, in fact does the opposite. It allows a unique single iconic location in London to reach a worldwide audience inexpensively, and for a business so rich in intellectual property and knowledge, to offer an engaging and immersive experience tailored to the interest of the customer. The building blocks for a great business are there in terms of the brand, heritage, reputation and capability. We look forward to updating you in the coming years on their progress. Phoenix's control position and the presence of one of our team on the Board, allows us to ensure that the company stays focused on building long term shareholder value.
waterloo01
24/9/2018
08:10
augustusgloop I like reading your posts , they have merit and try to help advfn posters. Re GOLD I was invested in the rise of the metal via a couple of mining companies many years ago. I have now realized for several years that the BIG USA banks and precious metals exchanges control the price. Smaller PI's are now taking punts on buying mining shares ... which is why most lose out . augustusgloop - 22 Aug 2018 - 22:37:08 - 27270 of 27362 New air of urgency at Shanta Gold - SHG "Thus far many of the factors that you thought would help Gold have made zero impact, Such as political risk i.e. North Korea and financial risk i.e. Turkey imploding." -------------- Gold is fairly valued compared to its long term inflation adjusted average. There has been a lot of logic supporting a higher POG, but record production for each of the last 4 years. Gold demand has been strong, but so has supply. I think that people are now underestimating the possible disasters on the horizon. I have been expecting trouble for a long time - and so missed out on the easiest time to make stock market gains that we will probably ever see. I totally underestimated the success of the wall of money in overcoming the absolutely dire financial situation. Who would have thought that debt could rise substantially above the levels just before 2018 - and investors would just shrug it off? ------------------ I am waiting for the right time to buy more gold - not because I think that it will rise, but because I think that the need for insurance is getting stronger by the day. Every economy that has printed money, like we have done in Sterling, dollars and Euros in the past has suffered massive inflation. So, I absolutely do not fear deflation. I am nearing retirement, with enough to live comfortably, but not enough to be complacent. I worry that when I retire, my savings will be greatly eroded by inflation - not allowing me comfort in the years 15-20. So, buying gold as insurance against this is worth the risk of it losing value in the short term. And my present reality is - what is the alternative to gold? No way am I touching these crypto-currencies. I make decisions based on comparison with events in the past - but for the last 5+ years, there are no comparables. People are acting on guesswork.
buywell3
23/9/2018
17:22
Balgray.. "Philately is drifting away from the single super (investment??) items and the 'fill the gap in the album' collections.....Good quality postal history seems very much in demand..." I don't agree.. Philatelists will always look to fill the gap in their collections and investors/philatelists will always look for investment grade stamps... The same goes for other collectibles, whether it be coins, paintings, Gems/jewellery, etc..
sikhthetech
21/9/2018
19:00
@jasdan, Any realistic valuation of any company would include its debt etc. Enterprise value? SGI valued at £7.25m with no debt means a buyer would spend £7.25m to buy. SGI valued at £7.25m with £10m debt means a buyer would spend £17.25m to buy (£7.25m to buy shares plus £10m to pay off debt) Phoenix may have 'parted' with £19.45m, but it was only about £6m of that for their 58% shareholding, which we've been over already (7 months ago?). How do you value Baldwins at £30m alone ? Baldwins made a basic profit of <£1m at last YE so why would they be valued at 30x profit, or 6x revenue ? From 2017 finals: "a substantial increase in trading losses, before accounting adjustments to £8.8m (2016: trading loss of £3.9m) as a result of a decline in trading performance in all trading divisions, particularly investments and AH Baldwin" and "We have experienced reduced turnover across almost all divisions in the Group but particularly at A H Baldwin (down 39%)" Do SGI results need to be announced before the 30th Sept ? (6 months from year end) (Disc. no longer invested here, but watching from sidelines)
dsct
21/9/2018
11:15
Augustus, your way of working out company value is a bit on the odd side. No company is valued at its share price plus its debt. Phoenix's outlay was £19.45m of which £10m was to replace the debts to RBS. However, what in essence must have happened here was that Phoenix bought the debt from RBS. Internally, SG now owes £10m or maybe less if there is any improvement shown next month in the annual figures. I do not disagree that failure to repay that £10m will hold back any increase in valuation of SG as a whole. However, they now have a number of years in which to do this, admittedly off of lower sales now that there is no investment guarantee sales anymore. However, whoever backs Phoenix has parted with £19.45m and in return got 58% of SG Plc where the current market cap is only £17m for 100% of the company so something is amiss here. That means that Phoenix's backers need the share price of the company to increase to at least double [8p] before they even break even, and one could then infer that they will only sell out if they have made a sizeable profit, so probably they are looking at the price in due course rallying to around the 20p level within the next five years? That gives a market cap of £85m - is that so impossible when compared to how SG was valued prior to when it began selling investment guarantees - I believe Baldwins is worth around £30m on its own?
jasdan
21/9/2018
10:26
Balgray, I am surprised at your last comments about postal history. This is exactly where SG have been moving into recently, and they have brought out new catalogues and auction guides highlighting this. Indeed it was even discussed in recent copies of their monthly magazine.
jasdan
21/9/2018
05:25
The stock they bought from Phoenix was, of course, a collection of failed investment items. The loss adjusters did will not have released them cheaply. Some of them are obviously slowly filtering onto the SG website. Call up the site and list the stock from priciest downwards. Add up everything from the top item (325k) down to the 30k items. It comes to about 9.75 million (doesn't take that long!) .Now choose a random selection of good-looking items and monitor them, as I have been doing for a while. The new arrivals appear to have a 'G' identifier at the front of their stock number ( transparent Guernsey code??) See how fast they sell ...or don't.We'll never know if it's 10% or 50% profit..but if they don't sell it doesn't matter...they won't be on the balance sheet. Separate thought..ex Stampex and other major world fairs and auction houses: Philately is drifting away from the single super (investment??) items and the 'fill the gap in the album' collections.....Good quality postal history seems very much in demand...something SG has very little of, and certainly does not seem to be pushing. They have a VERY high proportion of super-expensive top-end items.
balgray
20/9/2018
19:13
They owe £10m So add that to the £17m - and you get £27m. Is SGI worth £27m now? Plenty of investors could have bought it for much less before Pheonix jumped in. But they didn't - so everybody that looked at it must have thought that it was not worth such an investment. Pheonix basically got more than half of the company - for a £10m loan (which also pays a bunch of interest).
augustusgloop
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