Stanley Gibbons Share Discussion Threads

[clocktower] 16/3/2004 12:12

I agree they are and have done a very good job but bar taking the shares from the market..I can see it retreating a little..just my view but good luck with it. I think SGI will continue to do very well but cannot see the same growth in the share price that we have seen over the past year.

As i said if it does drop I will buy more.

[nuttynige] 16/3/2004 11:39

when you ask yourself the question, what has the board done to increase share holder value? you should be coming up with the answer, cancelling shares at 80p. surely the directors are entitled to take a little profit, one of them had to. i tip my hat to them, i think they are doing a good job of it. as one poster has said already why would mr fraser hold 28% of the company if he wasn't 100% confident of future prospects.

[smow1] 16/3/2004 11:29

Taking out the buy back today we have 22K sells, and 54K buys. Think the MM's are having a laugh with a 5%+ drop. Should be the other way round with a small rise. Grab it while it's cheap as they are just trying it on with the weaker holders to see how many they can shake out on positive buying volume (very impressive on such a red day and shows strength of share).

[smow1] 16/3/2004 10:56

Also still got 2.2M shares to buy back yet - which they make take from the open market this time as the directors may not want to sell anymore. Who can blame directors for taking some profit yesterday having turned the company around. One still holds 28% of the company. He wouldn't hold that many if he didn't think this company was going places - in fact they would all be selling large holdings if they thought this was the peak.

I didn't see anything negative about this at all and still expect £1+ by the AGM. Read the chairmans statement again that was posted round recently and see why this company is such a hot prospect.

[cockneyrebel] 16/3/2004 10:48

Err..the PE ratio has just fallen by over 5% after the buy back. The fact they bought shares back and got them from the management isn't a big deal imo. Had they tried to buy those in the open market it would have driven the price way higher and less shares would have been bought back.

Can you imagine what investors would have said had they driven the price up buying shares in the open market then they bought from the directors at an inflated price?

We all want to take profits at some point and directors ar no different. They haven't sold large proportions compared to their total holding. As PVRD gets sold off then the buy backs are going to drive the price up.

I'd have thought 80p offer was a steal ahead of the AGM and with the PE plummeting from earnings growth and reduced shares in issue.

CR

[mo123] 16/3/2004 10:45

From my calculations the cancellation reduction amounts to around 1.7%.

The last forecast I saw was EPS 5.3 and 6.9. That should now increase to 5.4 and 7.02 as things stand, ie no further options being granted.
A forward P/E of only 14 for next year will still see this share hit £1 although there will inevitably be some short term weakness because of the dir's sales.

[kael] 16/3/2004 10:16

CT as with most companies, options are part and parcel - you have spent far too long worrying about directors here and there - GLD is a prime example. It is the way of life. Get over it.

[clocktower] 16/3/2004 10:13

Maybe..Kael...but I think I will be able to re-enter at a lower level, if not well so be it..have done well here..pity that I am suffering on MLB..Still going to hang in on that one for the time being. I should have cut and run before on that but still have hopes.

When they buy back more the directors will sell again I dare say. will they issue new options then?

[argy2] 16/3/2004 10:10

Recent ramp/tip for the shares seems to have suited Directors who lunched with the tipster last week...ahem.

[kael] 16/3/2004 09:49

mmm... I think I can wait a month at least before selling these - there is a lot more to it than director sells CT - considering they just cancelled over 5% of the shares...

[clocktower] 16/3/2004 09:43

Just glad I sold the bulk of mine..I can only see this dropping back for some time.

Kael...As I said when Tim sells thats the time to part company unless you want a dividend.

[kael] 16/3/2004 09:37

Current price puts SGI on PE of 14 - not prospective either.

[daza75] 16/3/2004 09:32

Have you checked out the third paragraph in the special business section of the AGM.

[gateside] 16/3/2004 09:30

Well the announcement has caused the price to drop 2p

[dwnash] 16/3/2004 09:30

The way I see it is the company do not have all the share-buyback they require, and nows the best time to get them, while they are this price and not at90p, .
So the m/m's are spooking the market as I type ,to get the extra in before the next price hike.
Hold tight for the ride up.....IMHO

[dwnash] 16/3/2004 09:26

There's the answer to my questions, come from the management itself.
Good news I would say daza75.........

[daza75] 16/3/2004 09:23

What do you guys make of the annoucement?

[dwnash] 16/3/2004 00:15

Kael,
I would have thought it was easy for Gibbons to buy the convertable options straight back from Fraser, with no strings attached myself,as he is a companies man and the in-house broker would have overseen it...IMHO
This may have been put up here on an earlier piece by someone..
Lets hope for a good start tomorrow to the Footsie, should quieten down PM, Cheltenham you know....

[kael] 16/3/2004 00:08

Ok well good questions to ask on wednesday! FWIW I would have thought that they would use the cash they have atm to buy back shares and use the proceeds from PRVD sell as a special dividend.

[dwnash] 16/3/2004 00:02

Kael,
If as you suspect the 800K and 825K? trades are buy backs under the so said agreement in the results, also the 540K sell off of shares by Paul Fraser,(as his holding would have warrented him making a bid for SGI) this now totals about
2,165,000, or nearly 9% of company.
My question for somebody is, what was the agreed total share buy-back suposed to be percentage wise, against the pos. distibuted dividend we may ,or may not have had cash wise, (nearly 25 million shares in issue at the moment)
Are we at the cut-off point, or are there more shares to be bought back in?

[barnetpeter] 15/3/2004 21:32

Yes, Kael, bit low that figure. Plenty of small-cap "flying" stocks are looking to halve though and many will be cheaper tomorrow morning!

[cockneyrebel] 15/3/2004 20:05

Blimey - 2 x 800K trades at the close.

Look like delayed buys or a cross trade, can't be sells I'd have thought, not with the price up 7%.

CR

[kael] 15/3/2004 20:02

Hehe, you've changed your tune bp, 50p coming...think you were slightly getting ahead of yourself. I would be wary of being bearish atm. The markets are still within their uptrend channels....

[barnetpeter] 15/3/2004 17:00

Yes, excellent performance. I am bearish on the wider market (with good reason I think) am have movd into the quality stocks like this, MBY, HRN and SDM. Not a bad day overall although tomorrow is anothr matter.