Share Name Share Symbol Market Type Share ISIN Share Description
Stanley Gibbons Group Plc LSE:SGI London Ordinary Share GB0009628438 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 3.05 108,092 01:00:00
Bid Price Offer Price High Price Low Price Open Price
2.80 3.30 3.05 3.05 3.05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 13.18 2.51 -0.59 5
Last Trade Time Trade Type Trade Size Trade Price Currency
10:21:04 O 94 3.19 GBX

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Date Time Title Posts
24/9/202111:40Stanley Gibbons - a lifetime investment?4,432
17/8/202118:48STAnley Gibbons (SGI) bullish AGM6
03/6/202012:56Stanley Gibbons2,598
03/10/201710:47Reduction of debt-
19/9/201717:46Stanley Gibbons - now too cheap-

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Stanley Gibbons Daily Update: Stanley Gibbons Group Plc is listed in the General Financial sector of the London Stock Exchange with ticker SGI. The last closing price for Stanley Gibbons was 3.05p.
Stanley Gibbons Group Plc has a 4 week average price of 2.50p and a 12 week average price of 2.50p.
The 1 year high share price is 4.25p while the 1 year low share price is currently 2.50p.
There are currently 178,916,643 shares in issue and the average daily traded volume is 757,746 shares. The market capitalisation of Stanley Gibbons Group Plc is £5,456,957.61.
jasdan: The shares are being electrified by the current changes taking place. Previously it was obviously a stamp and coin dealer, also involved with catalogue production and auctions. those are all good businesses but there were a lot of legacy issues from years ago that had taken some time to sort out. A few years ago, Phoenix came in and bought 58% of the equity and became the company's banker as well. They own the debt. It is Phoenix who bought the stamp for SG and who are now co-ordinating moves to boost the equity value of the shares. The stamp is spear-heading this position, and whilst raising SG's profile, it is also leading to them getting into NFTs and taking a share on a new NFT exchange. That will be a minority stake provided in Rawnet for free by Phoenix. Furthermore, the imminent Castelnau flotation will further support investment in SG and again boosts the profile of SG. It's a really evolving and changing picture coming through now, the result is that the shares are beginning to be bought as the penny starts dropping with everyone. Ultimately, it will lead to the company moving back into profit much sooner, and having an increased asset base going forward. Both should mean the current share price shoudl rise significantly from current levels. I would imagine the shares will at least double from current levels by year end, and next year hit double figures again.
ijamlon: Hi there, I'm new to this thread / company. What do the optimists here see as a realistic route forward for SGI and share price on, say, 3 year outlook? Thanks in advance
deniro33: No, Jasdan, I’m obviously having in mind something more share price sensitive. Just found out in The Times, August 31: Collectors offered stake in £6m One Cent Magenta stamp. An extract: The company paid $8.3 million (£6.1 million) for the One Cent Magenta at Sotheby’s in New York in June and is asking the thousands of people who registered an interest in it for their opinion on a share price, ranging from £32 each to £800. Also got an email which I don’t check every day…
jasdan: Deniro, the point is that the value of the SG holding will be listed within Phoenix's holdings at a certain value, based largely upon the share price. It is in Phoenix's interest to keep this as low as possible, as the the tax loss can be offset against it, meaning it essentially may not be costing anything to keep the holding. If the shares start rising, this could change. And there's the rub: I think SG are on the edge of increasing their turnover sharply this year, it will be considerably higher by April 2022 than it is now. So what has Phoenix done? Added £6.5m onto SG's liabilities by buying the 1c magenta. That means SG, short of a miracle, will not probably trade in the black for another year. Which in turn will give it the excuse to request the main £10m loan is rolled over next year in their discussions with Phoenix. Therefore, as I mention above, Phoenix are in charge, completely on this, and we need to understand their intentions moving forward. I do not think the company is currently being run in non Phoenix shareholders best interests, only in Phoenix's best interest, but these are not the same. Once the Mallett situation is resolved, the liabilities will just completely fall away and SG will almost immediately trade in the black unless any other issues can be found to put on the balance sheet. At that time, the share price must increase substantially.
jasdan: What I think is now needed is a rethink about the level of debt. Looking at item 8 [Taxation] on page 29 of the results shows an interesting figure: "at the year end the usable tax losses within the Group are GBP 19,663,000] [2020: GBP 19,916,000]." One has to wonder - is the company being run as a way of Phoenix getting tax losses that it can offset against its other investments? Also, a lot of detail is provided in these results about the disaster that is known to us all in New York as Malletts or 'Interiors'. This is currently an unmitigated disaster which is also incurring legal costs. Unsurprisingly, with this hanging over the company's head, SG advises that not only did they fail to meet their covenants in 2021 but that they are not likely to meet them in 2022. And in 2023 the debt is due to be repaid! Clearly that won't happen and in all likelihood it will be just rolled over for another ten years. However, paying interest on it at the current rate is proving to be quite a burden for the company, this needs looking at. Ultimately I am left wondering if SG is being run for the purpose of producing tax losses for Phoenix, or for producing interest payments on loans. It does not currently seem to be being run to produce shareholder returns. If it was, then logically the first thing Phoenix would do is cut the debt burden as this would produce an overnight increase in equity. That in turn would produce a very rapid rise in the share price which Phoenix would gain from. I guess it all depends where in the overall scheme of things that SG fits into Phoenix's masterplans as we do not know which of these options Phoenix prefer or the timescales Phoenix are actually working to with SG.
jasdan: If this doesn't help SG increase their sales then I don't know what they have to do! Added to this, people are now returning to London and the big shows such as Stampex are on again, in person. This is going to be one major recovery story, I reckon SG's turnover is going to explode this year. In fact their biggest problem is likely to be acquiring enough stock to satisfy the extra demand. There also seem to be a lot of new collectors getting into the hobby. I suppose during lockdown people took up new hobbies or looked again at childhood hobbies. Either way, the auctions are now regularly sell outs, there are multiple bids per lot, and clearly a lot of interest in the hobby. For us as shareholders, I hope this translates into a meaningful rise in the share price. At some stage the penny is going to drop in the investment community, when it does the share price could rise by multiples of the current price. I think SG is in reality probably a £100m company, it is not apparent from the current share price, but it clearly has that sort of backing from its main investor, and embarks on a style of operation you would expect from a much larger company. In due course reality will catch up, and it will then be priced more correctly. As ever the market tends to overdo pricing, and when things were bad, it oversold and underpriced the shares. The current price frankly assumes SG will be going bust, which is not the case. Expect the share price to explode upwards in due course.
jasdan: I believe the SG publicity engine is gearing up for a few announcements. This is definitely going to electrify things once they get going. Phoenix presumably see it as a way to improve the share price, but I wonder if they would have been better off cutting the debt instead? On the other hand, the way the stamp was purchased and its oddly low price, suggest a private deal was struck. There was no publicity that the stamp was even on sale beforehand, not like when it was on sale before, a few years ago, and was on show in Sotheby's for a while, advertised around the world. There is a lot more to this than meets the eye and combined with a half decent RNS later this month could easily see the shares double or triple in price in the near future.
clocktower: Funny that Super doom should talk of HRN when they have just presented the best set of accounts for many years today, and into profit once again lifting providing even more support for the share, not that I think there is likely to be huge uplift in the share price over the next 12 months, unlike what is almost certainly bound to perform like SGI, as the share price could easily treble in the next 12 months if not before imo. DYOR.
clocktower: With news like this, the share price should be treble imo. Interest free loan of that size shows the confidence Phoenix have in the business and better still is the partnership possibility with Castelnau Group Ltd. Exciting times ahead J. Chance to get in today on the cheap still imo before the share price explodes northwards. DYOR. Once the stamp is on display, I expect it will draw huge crowds to the store.
jasdan: If my calculations are correct, they are trading negatively but only just. Any pronounced period of normality is going to bring them roaring back into the black. Costs have been decimated, meanwhile the stamp market is red hot, just look at the recent auction results. They just need more turnover, but to get that oompf, they need the shop to reopen, life to restart in London, and exhibitions to resume. All of those should shortly be ticked off, meaning by autumn things should be rolling along very nicely indeed. This is really a company going through dramatic changes, fast. I cannot see the share price staying at these lowly levels once it becomes more evident to everyone. I'd say they were trading at 1/10 of their expected share price - i.e. the shares should have been around 30p - 35p; not 3p! I suspect when the penny drops it will be a sharp move up.
Stanley Gibbons share price data is direct from the London Stock Exchange
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