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
  -0.05 -2.33% 2.10 14,637 15:39:38
Bid Price Offer Price High Price Low Price Open Price
2.00 2.20 2.15 2.10 2.15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 13.36 -8.04 -6.48 4.0
Last Trade Time Trade Type Trade Size Trade Price Currency
15:39:25 O 13,137 2.01 GBX

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Date Time Title Posts
14/6/201922:08Stanley Gibbons - a lifetime investment?3,626
03/10/201710:47Reduction of debt-
19/9/201717:46Stanley Gibbons - now too cheap-
26/2/201609:51*** Stanley Gibbons ***2
09/8/201311:12Stanley Gibbons2,596

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Stanley Gibbons (SGI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-07-16 14:39:252.0113,137264.05O
2019-07-16 13:40:322.001,50030.05O
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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 2.15p.
Stanley Gibbons Group Plc has a 4 week average price of 1.90p and a 12 week average price of 1.90p.
The 1 year high share price is 4.30p while the 1 year low share price is currently 1.90p.
There are currently 178,916,643 shares in issue and the average daily traded volume is 189,254 shares. The market capitalisation of Stanley Gibbons Group Plc is £3,757,249.50.
superiorshares: Jasdan, brother, come back to the debate. We are approaching gambling territory. My reasons for buying Stanley are still the same as when it had a share price of 10p plus. Only now it is cheaper !. Still might be worth waiting though for sub 2p or if you was really lucky a fractional share price ??. At these prices we are only going to loose a fraction of what we would have done should it go bust.
jim digriz: Don't think it's available for sale at any price resembling 1.5p! Phoenix asset management effectively own it. I'm invested because I think there is value and the thing that makes most sense for Phoenix to do is to calmly sort the company out and it should look like a decent company with a much higher share price in a few years. DYOR IMHO Jim
jasdan: Augustus, as pointed out before, Phoenix's pay-off here is when the shares start moving. Don't you find it odd how little trading there is in them currently a few days before the annual results? Phoenix admitted as much at the meeting in February / March, their involvement is long term and they fully intend to hold the stock for years, they believe SG is badly underpriced so as things stabilise the share price will rally upwards. A similar view was presented in the Aurora posting recently. We are not going to return to the share price level of pre 2015 when these shares traded around £3 - £4 per share, but I am pretty sure we are not going to remain at 4p much longer. The stock has been on life support for some time now, recovery is, I believe, in sight, and this will be confirmed shortly.
jasdan: Augustus, your way of working out company value is a bit on the odd side. No company is valued at its share price plus its debt. Phoenix's outlay was £19.45m of which £10m was to replace the debts to RBS. However, what in essence must have happened here was that Phoenix bought the debt from RBS. Internally, SG now owes £10m or maybe less if there is any improvement shown next month in the annual figures. I do not disagree that failure to repay that £10m will hold back any increase in valuation of SG as a whole. However, they now have a number of years in which to do this, admittedly off of lower sales now that there is no investment guarantee sales anymore. However, whoever backs Phoenix has parted with £19.45m and in return got 58% of SG Plc where the current market cap is only £17m for 100% of the company so something is amiss here. That means that Phoenix's backers need the share price of the company to increase to at least double [8p] before they even break even, and one could then infer that they will only sell out if they have made a sizeable profit, so probably they are looking at the price in due course rallying to around the 20p level within the next five years? That gives a market cap of £85m - is that so impossible when compared to how SG was valued prior to when it began selling investment guarantees - I believe Baldwins is worth around £30m on its own?
jasdan: I'd also point out that what everyone seems to be missing is that back in 2014 when the price was £3+, how different really was that entity compared to now? The market valued it at that price because of earnings expectations which in turn led to valuation expectations. The current price of SGI still is less than the price that was paid for Baldwins etc, so I cannot see how it can yet be a correct valuation for the entire group. That is not to say that SGI overpaid or not for Baldwins and Murray Payne, for example, but these entities do have a value. Now that all the liabilities are gone, and let's face it, there were loads of them, things must improve sharply. Marketplace, Interiors, Guernsey, etc, were all enormous drags on the share price for obvious reasons. They are all gone, liabilities are accounted for, and it looks to me like SG is moving back into the black. It's true there is still a £10m debt level but that is not needing to be repaid for five years, and under the soft terms of the Phoenix deal, they will even lend SGI £5m at no interest rate if required, which should mean even the compound interest in five years time is not such an issue. I would imagine SGI will make attempts to lower its debt in the meantime, but the future now looks a lot more rosy for shareholders than it did before. The only question is how long it will now take the market to wake up and see what is happening here, but early signs of buying already look positive to me. I guess we will see the stock moving up to one pricing layer at a time, my own guess is that 7p - 9p level is on the horizon, followed by a move into the 10p - 18p range later on this year, followed hopefully by a push up into the 20p + area towards the end of the year after the full year results are issued. Those who are critical of this should remember that it is much easier for a share to increase in price the higher it goes up - for example, if the price is 4p, then going up to 5p is normally a big deal. It is a lot less of a deal for the same share price to go from say 20p to 21p.
jasdan: Superior, I really feel sorry for you on this one. Talk about having a chip on your shoulder. You really wanted SG to fail, now it will not only survive, but prosper. I think Phoenix will be a good fit for SGI, this will become obvious as the share price rises. We are ex-rights this morning but there is no difference in the share price, as some of us correctly guessed. The new shares only create dilution if they are available to buy. None are since Phoenix will not be selling any. So, there is a dilution the other way round only - i.e. when dividends are payable. Superior, go back to school. Phoenix are not doing this deal to earn a profit out of loaning SG £10m!!! You make me laugh with these moronic comments. They are in it for the growth in the share price, just like us.
jasdan: Augustus, you are not right on this as Phoenix is buying the debt off of RBS. Under the deal, as you may recall, SGI had a fixed loan and a revolving facility. Both were with RBS. The £10m loan has been bought by Phoenix at face value. That does not mean then that this £10m loan is only costing Phoenix £4m. Like anyone, they have a cost to their capital, and whilst SGI now has to repay Phoenix in place of RBS, Phoenix on the other hand has a £10m debt on its books as it has paid £10m for the loan, but is only receiving any sort of return in five years. I know the debt is priced at 5% but these are not the worst terms for SGI. As regards the other £7m RBS loan, here it is not clear how much RBS received for the £7m, but it is clear that Phoenix have taken a haircut and agreed to accept only £2.75m for it, by way of assigned £1 shares. For SGI this part of their debt has been a win win position as they have effectively had the £7m debt written off without a debt replacement as part of the deal. The point is that what it has cost RBS to do this is one thing, and what it has cost Phoenix, is another. The haircut seems to have been on Phoenix's shoulders. The share price does not reflect any of this, and currently values SGI at just over £7m which seems incredible given the write off of £7m of debt, and the issuance of £6.2m new shares. Surely the market is not saying that the rest of the group is only worth £0.8m?
jasdan: It seems that many of you on here are labouring under a common misconception: you believe there must be a massive dilution of current shareholders to raise £5m because of the current share price. There is no rule at all that a rights issue has to be at a discount to the current share price. Perhaps the clue is in the amount of stock currently available: there are 179m shares, but 40% are owned by two institutional investors and they have Board representation. So only 60% are available in the free market. If you wanted to buy any decent amount of these shares, you would end up increasing the price. In the recent AGM, a resolution was passed [special business, item 10] allowing up to 25% additional stock to be issued without a general rights issue = 44.5m shares. If £5m is provided via this route, it will equate to a share price of 11.24p each - a premium to the current share price. Yes, you are all shouting, but why would they pay more than the current market price? Because once the banking facility is sorted out simultaneously, and the £5m provided, there is no way that the current share price will be just 4p. the 40% shareholders want a return on their investment, this is it, but they equally do not want to particularly dilute their own holdings. Therefore, they provide the bulk of the £5m, existing shareholders do not get a look in, but can't complain as the share price rapidly moves up to 15p - 25p range. And in reality, if a major II wanted to purchase the same amount now, equal to the amount they are providing to the rights, the price would probably not be that far off. It is impossible to get a pricing on the price to buy 25% of SGI, but clearly, you would pay a substantial premium to 4p. That is what appears to be going on, as bourne out by the Outlook in the recent statement.
jasdan: Frankly, the company is not being valued properly by the market, and this is the problem that I have been highlighting in previous threads on here. The current share price frankly indicates the company is going to go bust and would have been an inconceivable share price in 2014. But actually, all it represents is a company that is completely oversold, with no analysts backing it or covering it. As an AIM stock, once it breached its banking covenants it could not really be covered by any financial institution, and therefore the current share price is just what small investors have chased it down to. Therefore we can get a relatively large % change through very little turnover, and in the event of a positive update on the FSP, the price will probably rapidly recover to 25p - 50p range. That sounds ridiculous now, but then again, a 7p price sounded ridiculous in 2014. Chuck in a few bid rumours, a complete cutting in debt, a halving in the payroll count, and a more liquid company once the FSP is concluded, and you will have a dramatically changing share price. Believe me, you'll thank me when the price jumps.
superiorshares: agreed njb67 . all that information that used to be purchased via encyclopaedia Britannica then became available on the internet hence its demise . you cant take a rare stamp and say look .. ive made another one . I still think sgi share price may fall further ?. and as a brand its too big, far from it , I just thinks its iconic and unique. Time will tell and I don't think people will have to wait too long to find out.
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