Stanley Gibbons Share Discussion Threads

[castleford tiger] 23/2/2016 17:58

Thanks good luck sure you have a list a mile long of things you wish to discuss !!

Tiger

[clocktower] 23/2/2016 17:30

Watch out for trying to butter you up Graham1YT - get down to the real issues of the costs of all their investment staff (former failed bankers in Jersey maybe)and when are the board going to resign for the way they have destroyed the value by paying top wack for dead stock and poor advice.

I would not be surprised to see an offer coming at some point from the original owner of SG.

[njb67] 23/2/2016 17:29

Sad to see.

While strong brands can have great value, they can not compensate for poor management. I lost faith in the management a number of years ago, they simply did not inspire any confidence at all.

[graham1ty] 23/2/2016 17:05

Castleford, I have a meeting with them on Thurs. Will let you know

[castleford tiger] 23/2/2016 16:21

what about the 40 plus we paid for noble>>>>;>>

[eastbourne1982] 23/2/2016 16:10

The market cap is now only twice the price SGI paid for Mallett, I'd consider Mallett to be a very small part of SGI, amazing really.

[eastbourne1982] 23/2/2016 16:08

montyhedge,

You clearly have not been following these, it's been bad news after bad news for SGI for months, in fact they issued a profit warning about a year ago when the price was around £2.50.

[carbon man] 23/2/2016 16:03

Still need to watch the press tomorrow, before looking again.

[graham1ty] 23/2/2016 15:52

Monty, they had a profit warning in October, a warning about funding in January and now today. So, you are right, they come in threes. But SGI have now completed the three

[montyhedge] 23/2/2016 15:46

Profit warnings normally come along in three's, two more to come then.

[graham1ty] 23/2/2016 14:09

Americans awake. Fidelity bought 10% not that long ago.....not happy I am sure....another surge downwards ?

[clocktower] 23/2/2016 13:49

As a holder would you stump up further cash even at 20p a shares if you were asked to do so by the company? So how long before it reaches there or lower?

[bonio10000] 23/2/2016 13:27

The problem with the stock is that it is not worth that.

You try and liquidate that value in the market and the price you will get for such a holding is a lot less than the carrying value.

They have to hold the stock to keep prices up or they would flood the market.

[investor40] 23/2/2016 12:25

I wen to see them some years ago in the Strand.I mentioned Russian and Chinese stamps but they steered me away---only seemed to know UK stamps!
I wonder if HRH still has stamps with them
www.investormorse.com

[eastbourne1982] 23/2/2016 12:21

clocktower,

See Keith Heddle, he's on Twitter, he sums SGI up at the moment, i.e. not in the real world, they seem to be in their own little bubble.

[eastbourne1982] 23/2/2016 12:18

Exactly Graham1TY,

I went through these fairly thoroughly (or so I thought) before buying a few months ago, shocking decision on my part, I thought the business was well backed by assets etc, obviously these are not very liquid however they are decent assets, I also took into account the valuations of the businesses and thought at around £1 the risk / reward was decent, what I hadn't taken into account was how out of touch the management appear to be, also their lack of cost control, when trading conditions are very tough you cut costs to the bone, you don't keep chucking money at things that are not working (the Marketplace website).

At the end of the day I hit the buy button and I only have myself to blame, shocking management or not.

[eastbourne1982] 23/2/2016 12:12

Share price was £3 a year ago, now circa 40p yet the board don't seem to be under too much pressure in terms of their jobs / roles, amazing really.

[eastbourne1982] 23/2/2016 12:11

How much £££; is Hall on these days ??

[graham1ty] 23/2/2016 12:02

Eastbourne, the sum of the parts is enormous. They paid £45m for Noble and £9m for Mallett. And that leaves a core stamp business and £50m of stock at cost.

I wonder of all the alternatives whether selling part of Noble back to management was not considered ? Have they really destroyed those businesses ? Would Noble managers ( now mostly sacked) not leap at the chance to buy back their businesses at half the price ?

It is staggering that the last equity issue was for £40m at 295p to pay for Noble. How the ( not so) mighty are fallen.

Mike Hall sold a wedge of shares at 310p......enough said

[castleford tiger] 23/2/2016 12:01

market cap is 20 approx.
debt at the moment 26
46 million.
stock at cost 50.

Not a massive lot to go for.

However we paid 47 million quid for company A

The stock whilst valued at 50 was worth 150 under normal market conditions.

Now is not normal.

Why didn't one of the current big holders just inject the money and have a majority stake.
The writing is on the wall now. Its a Fire sale of assets.

Poor management and till they get pushed its probably downhill.
The Auditors walking was clearly a dispute of asset valuation . in my opinion.

tiger

[wskill] 23/2/2016 11:58

I believe we will have to take up our rights to see any sort of return due to it being highly dilutive to present holdings ,to get it away with present management it would have to be in the range of 20p to 25p.

Destroy present shareholders is the only way I can see them achieving the required £10m take up from investment funds

[superiorshares] 23/2/2016 11:55

all my targets met .