Stanley Gibbons Share Discussion Threads

[bookbroker] 23/2/2016 07:52

Easy to be an armchair punter, but four/five years ago this went through a period of turbulence, Brailsford should have resigned then, and same for Duff, these guys clearly don't have a strategy, never did, at least one that was realistic, they have a few shares but clearly are not bothered, simply not up to the job in this age, how Mr B. can live in Jersey and run the business, he looks like an undertaker, the co. might need one!

[oakville] 23/2/2016 07:52

What a fall from grace. Christ knows how the market will react.

[castleford tiger] 23/2/2016 07:45

chrisgail
The bank is !

Tiger

[graham1ty] 23/2/2016 07:44

Chris, the only action would be for Mike Hall to go,and Ian Goldbart parachute back in.

They have known this was building for a couple of years, buying up stock of stamps and collectibles like there was no tomorrow. And using debt to do so.

[castleford tiger] 23/2/2016 07:43

They have had an extra emergency 6 million top up on overdraft then.

That's 60% of the fundraising gone in a flash.

looks to me as if bank pulling strings as that temp facility runs out in a month.

They are in a very poor state with assets that cannot be converted to cash.
In effect the bank is running this now.
After fees etc and dilution there wont be much cash left.

Cannot see it lasting long and a fire sale of assets looms.
Not good but a BOD shake up not happening.

Opens at ? 35p.

Tiger

[chrisgail] 23/2/2016 07:39

The only crum of confort is that they are taking action.

[typo56] 23/2/2016 07:37

Gosh. I can't recall when I last read an RNS as awful as this.

[graham1ty] 23/2/2016 07:35

Book, I am surprised they have not found an equity backer.

I do think thAt there is an organisation out there that could get real value for this, but not with the current management.

Perhaps they should just put themselves up for sale ?

[bookbroker] 23/2/2016 07:32

Shocking statement, debt will remain high, possible bankruptcy down the line!

[graham1ty] 23/2/2016 07:30

Tsmith, I am assuming 40p and it will have to be a one for two at those levels. I wonder why they announced this today ? Another leak ? Or forced to announce the change of auditors ?

They have obviously failed to find a core backer. I thought they might pull out of the hat an American investor, or Far Eastern to do a small Placing or underwrite an issue. Fidelity bought a large stake last year. But, no. No backers no.

[graham1ty] 23/2/2016 07:27

Tsmith, read the announcement carefully. They compare debt (£22.6m ) with new facilities (£19m) without telling us what indebtedness might be going forward. So we have no idea what debt will be reduced by

[tsmith2] 23/2/2016 07:26

v significantly discounted RI...I would guess

[tsmith2] 23/2/2016 07:25

Dear me!also slightly puzzled by how you manage to reduce debt by £3m when paying back £6mReason for change in auditor - scary

[battlebus2] 23/2/2016 07:23

Yes, car crash sums it up Graham.

[graham1ty] 23/2/2016 07:16

Car crash. Auditors changed as old ones found the audit too risky. A loss to come. Debt high and the fundraising proceeds to pay down overdraft. Disaster. Hubris of the Board.

[battlebus2] 18/2/2016 12:19

Continuing to new lows, it's gonna take a long time to recover here....

[buba] 18/2/2016 12:18

Thanks for the opinions,I will wait though I am very tempted!

[graham1ty] 18/2/2016 07:12

Stampex this week and SGI with a big stand. Wonder what morale will be like on the stand ?

[11_percent] 17/2/2016 21:42

njb67,

I am not suggesting the divi will not be cut, it will be.

[bookbroker] 17/2/2016 21:38

This is stuffed, the management should have cleared off years ago, they are like dinosaurs, no concept of the demands of this era, fantastic name SG. but has been decimated by appalling control! Chinese'll buy the brand!

[njb67] 17/2/2016 21:16

For now...

[11_percent] 17/2/2016 21:13

No, further to fall, although it is a div yield of 7.8%.

[buba] 17/2/2016 20:22

Is it now time to buy?

[battlebus2] 15/2/2016 18:06

Let's hope so moneybags

[moneybags] 15/2/2016 17:38

Did a large buy order for these shares start just after 1pm today. Looks interesting......

Regards , MoneyKeepLickingThoseStampsBags