Stanley Gibbons Share Discussion Threads

[spob] 06/10/2015 08:37

bought my first unit this morning

hope to buy more at much lower levels

[eastbourne1982] 06/10/2015 08:34

I see this as a cracking opportunity and have doubled my holding this morning at an average of £1.05.

[robsy2] 06/10/2015 08:19

dreadful. I'm out with a scolded toe, can't remember having held a share for such a short period of time.
Incompetence or deliberately misleading, the result is the same.
R2

[salpara111] 06/10/2015 08:12

Incredible, how can management issue the Sept 23rd statement and then this.
Either they are totally incompetent or they deliberately sought to mislead the market, either way, heads will have to roll.

[graham1ty] 06/10/2015 07:42

Market will hate this. The 23 Sept statement was to stop the falling knife and try to end the slide. Little bit of reassurance will have pulled in a few punters ( self included). I feel completely misled

[qs99] 06/10/2015 07:31

Perhaps the reporting from the Asian operations wasn't clear and so further analysis led to this statement? DYOR and IMO etc, but not sure market is going to take this well, so yes sub £1 IMO is possible....someone above posted a NAV type post recently...need to check that

[jeanesy] 06/10/2015 07:28

How much will it drop ? ... to£1?

[tell it as it is] 06/10/2015 07:27

What a disgrace. This smells of a very incompetent executive board.

On 23rd September 2015 Michael Hall and Donal Duff issued the following update

Notwithstanding the potential half on half split, the Directors continue to believe that the Group will achieve market forecasts for the full year ended 31 March 2016 based on trading initiatives in place, the realisation of integration benefits from recent acquisitions and through continued expected sales of our strong stockholding of rare high quality collectibles.

Today on 6th October 2015, less than two weeks later, we read the following from the same Michael Hall and Donal Duff :

On the basis of the performance in the first half, the Board now believes that, as a result of the weakness being experienced in our Asian operations and the continued illiquidity in high value stock items, it is unlikely that the Group will achieve the market forecast for the full year.

It is very hard to see how there can be such a change in prospects in two weeks to the year ended March 2016, and it is hard to imagine that a board on top of current trading would need to wait for the production of 30 September draft accounts. If it was all that knife edge they simply shouldn’t have put out the 23rd September statement. It looks to me as if wiser counsel (or Peel Hunt) has prevailed to correct the 23rd September trading update. That statement does now look highly misleading and reckless and the fact is that people bought stock on the basis of it. Leaving aside the exposure this gives to legal action, this is very poor for the credibility of the current executive board with shareholders.

[qs99] 06/10/2015 07:24

Will be interesting to see where the market takes this in terms of value....but surely some changes at the top required IMO?

[shanklin] 06/10/2015 07:20

Unfortunately, as per my post 1588 after the last TS, management seem completely delusional. IMHO.

[qs99] 06/10/2015 07:09

Defo could see this coming IMO...sorry for holders, but not sure this will be the last RNS like this.....DYOR etc,.....a shame as I genuinely like the potential business model...just poorly executed IMO..

[graham1ty] 02/10/2015 18:56

Been sent a questionnaire for feedback on the Marketplace. Bit late six months after the launch....when it hardly works and has been put on hold until problems are sorted

[robsy2] 01/10/2015 08:15

Dipped my toes back in after a 5 year break , surprised that this has fallen so low.I'm taking the same view as ST in the IC.
R2

[11_percent] 30/9/2015 16:05

Dividend is safe. Look back at the history, SG went through a very dodged patch, later 90s.

Graham, cheers.
-----

I am a stamp collector for 40 years.

The stock MUST have value.

What has gone wrong, what is wrong with management.

[jadeticl3] 29/9/2015 23:30

If my memory serves me correctly, I got these on a 1 for 1 basis when it was demerged from flying flowers. Paid nothing for that lot. One for every Flying Flowers. But then FF went belly up!

[elmfield] 29/9/2015 20:24

A very long time ago, was it around 2000?
Just before the rise and then sold far to early but bought back in and since sold out,
Not holding now, good luck all in these very difficult times.

[graham1ty] 29/9/2015 20:08

Dividend is safe. Look back at the history, SG went through a very dodged patch, later 90s. Ended up part of Flying Flowers Group. 2001-02 traded as low as 12p. Then got its independence, went for growth under new CEO Mike Hall and has got to where it is now. At low point market cap cannot have been more than c£5m. A lot of people made lots of money on the ride from 12p to 300p, though feels like ancient history now

[11_percent] 29/9/2015 18:53

My guess is, that the value of the stamps will go up.
As an asset class, they are likely to go up, if you believe in the doom and gloom.
Back is 1973, stamps did well.
Having said that, SGI tend to over price them.


Is the dividend safe.

[eastbourne1982] 29/9/2015 18:40

I'd be pricing the assets at cost, not retail value, even on this basis SG is jam packed with assets.

[superiorshares] 29/9/2015 18:33

Im interested when this was 17p also , can`t remember that ? If these assets are all collectibles you have to be careful of asset price falls . its all very well putting high values on things, but something is only worth what someone is willing to pay for it .

[eastbourne1982] 29/9/2015 18:15

Well if he tipped these at near £3 he probably isn't worth listening to, these are a buy at under £1.50 and a sell at anything over £2.50 - £3, I don't understand some of the holders on here who bought years ago and didn't sell when the price was £3 - £3.50 a year or two ago, it's not even the benefit of hindsight, it's just pretty obvious. This isn't a massive growth company that will just keep heading north, it is a decent business with shed loads of assets that has under performed in recent times, just look to trade it between £1 and £3 and you will do very well indeed.

[graham1ty] 29/9/2015 17:44

Does ST reveal when he first tipped these ? I suspect closer to 300p. He has been a buyer all the way down. I do not have the online IC but someone could check.....

[eastbourne1982] 29/9/2015 17:39

Been buying these over the last few days, I'm new to these and am averaging at around £1.385 at the moment, hoping they go lower in the short term so I can add a few more.

FAO elmfield, when were you buying at 17p ??

Cheers

[h1a3] 29/9/2015 17:03

I have topped up as I have decided that SGI's price is near the bottom (hopefully)and will rise again soon from this price.
I am 'fishing' at the bottom however I am in for the longer term and do believe that either sales will improve, there will be managment changes or someone will buy SGI out.