Stanley Gibbons Share Discussion Threads

[creme de menthe] 02/4/2022 21:14

Jasdan, you really are spouting complete rubbish again. SGI acquired the BG stamp with a $8.3m interest free loan from Phoenix. Kindly explain why they are not liable for this debt?
Also SGI have sold 15.8% of the Shares on the BG stamp, or approximately 12,600 shares, most of those at the discounted price of £90. Remember SG are keeping 49% for themselves. By my reckoning, SGI have managed to get back roughly £1.2m so their liability is still in the region of £5m. They need to sell an awful lot more fractions to cover it.
I think the jury is still out on this one but to say SG has no liability is nonsense.

[jasdan] 01/4/2022 10:45

Clock, I'm pretty sure you will see that 35.2% remaining dwindle down quite sharply over the next 29 days. So many of these types of investor are last minute ones.

Am pretty sure that from an accounting angle, the 1c Showpiece deal will be a major factor in moving SG into the black again - this was intimated by the CEO back in December. It's all smoke and mirrors of course, but SG will end up retaining it and making wonga out of it for years.

I want to know what the next item will be for Showpiece?
Also, I am looking forward to some sort of announcement about the new exchange to be launched next month for trading of these fractions. It's all a fascinating project with no liability falling back to SG for once!

[clocktower] 01/4/2022 10:21

I see there are currently 1582 existing collectors (as they now call them) in the 1c with a price per piece of £100.00 and the sale item closing in 29 days.

So closing the book on a misguided handling of the project.

Hopefully they have learnt their lesson.

[shreddinggreen] 31/3/2022 15:53

Superiorshares - your whole post at 20.37 on 29th March is nonsense. The ownership of the 1 cent magenta has clearly been spelled out on several occasions. It was purchased by SGI financed with a loan from Pheonix.

[jasdan] 30/3/2022 08:34

Does anyone know if the banking covenants have been waived again by Phoenix? According to December’s RNS the company was going to be in default of its Covenants in March - what’s the current position?

[superiorshares] 29/3/2022 20:49

I will give you all a contrarian view on
The next set of results.
Stanley returns to profit but its nothing exciting. Everybody then realises it will be decades before Stanley can pay off its debt .
The only winner will be phoenix paying a commission to Stanley for selling their items .
The share price goes down after it returns to profit in the next results.

[superiorshares] 29/3/2022 20:37

Jasdana my luv
You are still posting nonsense. The 1c valued at 8 million and Sgi only at 9
Stanley gibbons doesn't own the 1c so its irrelevant.

[hyper al] 27/3/2022 22:45

Ijamlon

Thanks for that link.

[ijamlon] 27/3/2022 20:49

Forget Isas, buy shares in the Mona Lisa of stamps insteadhttps://www.thetimes.co.uk/article/263205a2-ac60-11ec-9f8f-48b5aba04080?shareToken=66914d357b2af8da2bcd0ded3d63ab60

[retriever1] 26/3/2022 22:28

Jasdan, You and I clearly inhabit different worlds. If SG post a profit in their next set of accounts then I will bow to your superior wisdom but I am not practicing my curtsy just yet! Good luck with your next share purchase.

[jasdan] 26/3/2022 11:53

Lastly Retriever1, I would comment that a spate of excellent auction results over the last few months show that the current stamp and coin markets are red hot. I really can see SG’s reflecting this as 2022 progresses.

And they are also at last stepping up production of the catalogues as this was neglected over the last two years

[jasdan] 26/3/2022 11:49

Retriever1, you have to bear in mind that previous trading was obviously heavily impacted by the pandemic throughout 2020 and half of 2021, and the closure of 399 Strand for a large part of the previous reporting period. Added to this very few auctions were being held and it was near to impossible for SG to buy in new stock as you couldn’t meet anyone during the pandemic. So all the fairs and exhibitions were cancelled as well.

Trading then during last year and especially 2020 represents the bottom of the cycle for SG. The current year they are reporting on is from 1st April 2021 to end March 2022 and this should compare very favourably with 2020 for the above obvious reasons. I believe the oncoming year should see the recovery continuing for them.

Of course the Showpiece and Castelnau initiatives should materially help, as should the separation and administration of the US side which had been a considerable drain on resources.

[retriever1] 25/3/2022 22:39

Jasdan, I have been following your posts for some time now and admire your confidence but I still don’t get where SG are to get the extra sales required to turn them back into a profitable business. At the risk of repeating myself they need to increase their turnover by 50% at least. How?

[jasdan] 24/3/2022 14:03

I can really see this tripling or more in price once those trading details come through in a few months time. Given the forward facing nature of the market, this should have been anticipated by some in advance, so it is highly likely the price will start bouncing early next month onwards.

[jasdan] 24/3/2022 13:58

Once a positive RNS is issued confirming the waiver, the share price should rise, but what we really need to see now is some further details on positive trading.

The dynamite statement confirming the Company is trading back in the black again when the next update comes out in June should see the shares march properly out of their current trading range.

[jasdan] 24/3/2022 13:52

I think the main reason why the shares are so low is that in the recent December update, shareholders were reminded that the Company will fail to meet its covenants in March 2022, and so far, despite it being 24th March, there's no update. Shareholders cannot invest in the shares with that hanging over their heads no matter how positive other issues may be.

Whoever's in charge of issuing the RNS's needs to make some sort of comment on SG's covenant position, as soon as possible.

Personally, I'm absolutely sure that Phoenix will agree a further waiver, but until that is confirmed, I can't blame anyone for not buying the shares.

[bobex] 24/3/2022 12:48

That's an easy picture to portray that the company is indebted, but is it really that bad? According to the latest results, the current liabilities are 20,471 and current assets 25,319. Then the long-term debt is 15,205, which is manageable (not a debt of hundreds of millions) if the company continues to operate as it does now. Phoenix continues to support SG. That is why, broadly speaking, despite the debts, the valuation does not fairly balance the things here, in my opinion.

[creme de menthe] 23/3/2022 21:48

I think you must have forgotten the debts in your calculations.

SGI is bust and has been given loans by Phoenix to keep it going. Phoenix gets a nice slice of interest on the deal. That's why share price is 2p. SGI will be servicing huge loans for many years to come....if phoenix keeps them afloat.

[bobex] 23/3/2022 17:57

That’s way it m u s t be a mockery of evaluation… hopefully…

[jasdan] 23/3/2022 17:50

Even the 1c is worth at least £8.3m so how is the overall group valued at just £9m????

[jasdan] 23/3/2022 17:48

Stanley Gibbons, Baldwins, Murray Payne, catalogue department, auctions department, Showpiece, etc and currently valued by the market at just £9m.

Hopelessly undervalued

[bobex] 23/3/2022 17:26

“Something going on”- Unless the company should go bust it is grossly undervalued. I can’t imagine now seeing the market capitalisation of - let’s say £8 million. If I see this I’ll simply be compelled to buy some more. Maybe it’s both a waste of time and money but it all looks like it to me now…

[bobex] 23/3/2022 16:03

I thought so too that the 175 could’ve been a buy, it’s possible because there were some bigger sells below the price not too many days ago- But we don’t know that to a certainty. In either case I feel like I have completed my shopping as far as SG is concerned. Waiting now what happens. Positively waiting… Lol

[jasdan] 23/3/2022 14:35

The more I think about what Pearls has written, the more I agree with him / her.

But if this is true, the shares are radically undervalued? Anything confirming a move back to the black will materially lift these shares.

Just tried to do a purchase, it would appear the 175,000 trade earlier was a 'buy' which is good news. Perhaps something is going on.....