Stanley Gibbons Share Discussion Threads

[nuttynige] 07/4/2004 16:55

excuse my ignorance, what's a B trade?

[kael] 07/4/2004 15:29

and another huge trade gone through - 790,000 B

almost 6million B trades gone through recently

[smow1] 07/4/2004 13:38

Whole market for small caps has been down for the past month now. All small cap shares are drifting with any rise being sold into. Just need to hold and wait with the good small caps and top-up on any excess weakness. Market will wake up eventually to the quality shares.

[xdavid] 07/4/2004 13:18

I've held from 30p & 50p and bought the 4000 @73 this morning. Was waiting for a nice round offer of 70p to keep things tidy, but liked the RNS yesterday.

Kael, where did you get the piece on Flamlington? Off their web site?

[kael] 07/4/2004 12:38

I have no idea whats going to happen with the run up to the AGM - I'm half expecting another RNS before, but as you say the share price is ludicrous given prospects. You have to imagine what you would be feeling if you held from 20p, just happened to check on your long term investment and found it had almost quadrupled - I expect a bit of top slicing has been going - factoring in institutional investment, along with buy backs, I believe there has been a bit of price manipulation, walking it down slowly to 70p bid - I note a sell of 30K went through and had zero effect - good sign imo.

[nuttynige] 07/4/2004 12:31

this share price is ludicrous, bordering on insane imho. i bought in at 49p, just added a few more at 73p and will keep buying upto the agm if it stays put. that couldn't happen, could it?

[kael] 07/4/2004 10:07

Here is a bit of background on the news investors:

"Framlington Unit Management

The following information was provided by Framlington Unit Management.





Framlington has built a reputation for delivering high quality active equity investments via a range of specialist investment solutions. This specialist approach, combined with an ability to spot positive global trends, has enabled them to add real value to investor's portfolios right across the range.

For over 30 years Framlington has followed the same investment style, investing in quality growth companies at a reasonable price. In seeking growth, their fund managers look to invest in companies which are expected to produce above average growth in earnings, dividends and shareholders' funds over a complete economic cycle. In order to assess a company's growth prospects, Framlington's investment team look at the quality of its management and financial position, the industry in which it operates and its competitive position.

Primary research is central to the investment process, with the majority of research undertaken by their own team. Individual talent, backed by strong team support, is also a feature of this investment process. Such a culture allows for individual flair within the environment of a disciplined investment process.

The Framlington Group was established over 33 years ago, and today manages investments valued at over £2.5 billion for investment trusts, pension funds, charities, institutions, unit trusts and PEP and ISA investors. It has the backing of two significant shareholders: HSBC Holdings (51%) and Munder Capital Management (49%) - a US investment house.

Their product range includes funds investing not only at country level, but also regionally and following specific sector investment themes. Investors can choose from a range of Framlington unit trusts to place in an ISA wrapper. Two leading funds include the Framlington Health Fund and Equity Income Fund."

[kael] 06/4/2004 23:59

I really dont think the price will drop again to accomodate their prescence at least not from these levels - dont think the current institutional holders will be too impressed to see that. Besides, dont buy on up days and you wont fall into the mm trap of buy high, sell low. Always buy on weakness and sell into strength.

[dwnash] 06/4/2004 22:46

Oh yes more institutions will be interested ,and the price will drop yet again to accomodate their presence no doubt.

When we buy, we chase the price up, so someone becomes the suckor and someone wins, but in their case we the small fry always seem to be the loser.

Price manipulation by the m/m's yet again.........

[kael] 06/4/2004 16:34

CT do you think more instituions may want to get on board...? Will we hear something at the AGM? ;)

[clocktower] 06/4/2004 16:30

They just do not understand K. but glad I only bought a few the other day.Tomorrow may get even better...

[kael] 06/4/2004 16:22

Why on earth are people selling!

[clocktower] 06/4/2004 16:18

If you want to know about tax in the Channel Islands, I suggest the following site.

Note: Zero company tax being introduced (possible) in 2005.



Slow site but look under tax and spending.

[kael] 06/4/2004 16:16

wow! Check out the option price ( oh yes and the institutional placing is not bad, LOL!) what are the chances they requested some shares as they couldnt get any on the market! Im also happy the chairman reduced his huge holding 30% is quite a bit to have!

[clocktower] 06/4/2004 16:13

More good news...K

[tonyx] 06/4/2004 15:58

Looks extremely good...

[kael] 06/4/2004 14:40

Righty ho, couldnt bear it any longer, topped up today, yet to be shown. This to me is screamingly cheap at these levels given the forecasts. Growth share - should imo have foward PE of 20 which puts it on £1.20, my preliminary target. They are also cheaper than they were when results came out!

Edit as an addition I am expecting that RNS tomorrow and believe that the price has been manipulated to make the buy back at the price the trade was carried out last week (off hand cant remember the exact price, but think it was around 74p)

[kael] 06/4/2004 13:46

Watch for the coming 50ema bounce. Is it a coinincidence that there was a trade for 50 shares today...

[kael] 06/4/2004 13:22

Blooming good question, I am no expert with tax matters at all - I leave that stuff to the better half - I will investigate this further when she gets in! Assuming 12.5p per share, I would have thought 8p special divi is attainable. CT would know about CI Tax breaks as he lives there (I think) ;)

The only thing I do know is that SGI is now liable to pay around 29% on profits now (they were only paying 14% last year)

[shanklin] 06/4/2004 13:17

Thanks Kael. Unfortunately, I don't think I made myself very clear at all.

I am trying to work out how the holding in PRVD will fund a special dividend of 8 - 10 pence.

With PRVD currently at $23, my guestimate is that SGI shares in them are worth approximately £3.1 million, i.e. approximately 12.5p/share (assuming ADVFN have the correct market cap.). What I don't understand is:
- What profit SGI will realise on this transaction
- What tax, given they are in the Channel Islands, they will be due to pay
If I understood both the above points, I would have a better understanding of the post-tax benefits per share of the PRVD holding.

Further advice most welcome. Thanks, Martin

[kael] 06/4/2004 13:13

What did you all think of that X trade at 70p yesterday - I took it as a good sign - someone wanted to sell some stock but didnt want to depress the price - the other was happy to get 1 million shares (albeit at discount to market, but indicates a normal sale would have sent share price down consdierably). Of course I would like to be able to get some more at 70p, but I cant see it happening with the AGM a wweek and half away.

[kael] 06/4/2004 12:38

8p is the dividend from the sale of PRVD - Michael Hall expected to actually pay around 10p

This year the divi from profits is expected to be 1.5p or 1p - it should be in the brokers note.

Oh and the 8p EPS is 2 year forecast (think its 7. something in the brokers note, but I am optimistic that SGI will beat expectations year on year)

[shanklin] 06/4/2004 12:36

Kael

Please forgive my ignorance, but how do you get to 8p? Is there corporation tax (if any in the Channel Islands) built into your calculation?

Thanks, Martin

[clocktower] 06/4/2004 12:25

Well put..Kael