Share Name Share Symbol Market Type Share ISIN Share Description
Stanley Gibbons Group LSE:SGI London Ordinary Share GB0009628438 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 3.00p 2.75p 3.25p 3.00p 3.00p 3.00p 87,140 07:36:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 42.5 -30.2 -16.1 - 5.37

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Date Time Title Posts
13/12/201712:17Stanley Gibbons - a lifetime investment?3,227
03/10/201709:47Reduction of debt-
19/9/201716:46Stanley Gibbons - now too cheap-
26/2/201609:51*** Stanley Gibbons ***2
09/8/201310:12Stanley Gibbons2,596

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Stanley Gibbons Daily Update: Stanley Gibbons Group is listed in the General Financial sector of the London Stock Exchange with ticker SGI. The last closing price for Stanley Gibbons was 3p.
Stanley Gibbons Group has a 4 week average price of 2.88p and a 12 week average price of 2.88p.
The 1 year high share price is 14p while the 1 year low share price is currently 2.88p.
There are currently 178,916,643 shares in issue and the average daily traded volume is 845,237 shares. The market capitalisation of Stanley Gibbons Group is £5,367,499.29.
jim digriz: It's usually about this point that a bid comes in at a small premium to the current share price, which is accepted because the company are panicking and haven't seen this before themselves although it is business as normal on the LSE, and everyone suspects that the price was manipulated in a downward direction first but noone can ever prove it. I would currently strongly support the company issuing a lot of share options to directors to align their interests with shareholders.
jasdan: Sorry, slight error in last posting - meant to say it is over a year since SGI stopped selling these guaranteed funds last August. So logically they could have stopped the guarantee at the same time, and put the whole Guernsey side then into administration. Fund holders in my opinion have been running on borrowed time in this respect as the writing was surely on the wall since last year. So, the reputational damage I would imagine is a lot more limited than the share price suggests.
jasdan: Like everyone else, I do not know if SGI will be reporting a profit when they update us again at the end of December, but one thing's for sure - their losses will be sharply reduced. They have cut their staff numbers by half, their wageroll has been decimated. And all these auctions are getting and keeping the wonga flowing in. So, although cashflow is tight, I would guess it is slowly getting a lot easier. And then there is the culmination of the formal sales process. As certain unwanted parts of the operation are divested, so we must return to a profitable, albeit smaller entity. As to what it is then worth? Who knows, but it is going to be somewhere between 6p a share and £4 a share, and my guess is eventually it will be the high double figures to low three figures. Current share price completely undervalues SGI, but they have no institutional support at the moment. According to the December Gibbons Monthly magazine, the recent SGI Indian States sale went rather well - should be good for sales.
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.
ltcm1: I can't help feeling that if SGI was worth anything someone would have bought it by now. Perhaps the reality is the business is only worth the amount of the debt and the share price will converge to this amount.
superiorshares: my theory. The share price will go lower, but the company will carry on trading. share price will settle somewhere below 5p and remain at these levels for some time. Things will gradually improve. When recovery is firmly under way , another rights issue , followed further down the line by a share consolidation. Then its all as it was, prior to the numpty empire builder who messed it all up !... for computer people check out my previous theories on sgi . should really sell my advice :-)
jasdan: The rough reason for it is that with the recent loss of £30m against the stock of £40m gives a £10m balance so the current share price is a bit over that reflecting anticipation of paying off of debt in due course. This is a very simplistic view of the valuation, but even so, you can see how incorrect it is and how, if SGI does proceed to swiftly pay down debt, as it is indicating it will do, the share price not only is far too low, but must be sharply corrected upwards. The point is that there isn't a lot of info coming out, and no real timescale as to when debt will be sharply reduced by. All everyone is fixated over is the banking facility that ends at the end of May next year. But by then, they may not need such a facility, and the loan they also have may be paid off / largely paid off. As debt is reduced, this should be a win win situation for SGI, but they need now to sell off something else to increase liquidity because things will otherwise be tight. However, as commented before, they will be trading within the facility until end of May. I just do not see why the shares are still priced so low. We must be at / approaching the point where things turn round for SGI, it is just that no-one else is saying this, and SGI are not making many comments either which hardly assists things. As ever, it is about sentiment, this is due to sharply change.
jasdan: I reckon we may get some news tomorrow. The AGM would be a good time to advise us, and we are always getting promised that the FSP is close to concluding. I think the share price assumes no satisfactory conclusion of the FSP, and a company on its knees. I do not think it is quite like that. Yes, cash is tight, but the company is able to trade within its current banking facility until the end of May, this was previously confirmed. Furthermore, sales of high quality stock are holding up and there are always buyers of the sort of quality stock that SGI specialises in. Also, things have started to improve again in the Far East, and i believe that Baldwins has been improving its sales. I suppose the biggest conundrum to any new / sceptical investor in SGI is why they should believe all of this, but they need to look through the RNS statements and understand what is being presented. Apart from anything else, even the statement at the beginning of this month referred to the year up to the end of March 2017 - we are now over half a year later on in the year. And unsurprisingly, SGI is still trading and it will, I am sure, be trading next year as well! The clear out of debt, impairments, and writedowns has been done, now it is payback time for shareholders who have had to put up with this. Hopefully the management at SGI agree....
jasdan: It seems to me that there is a real paradox here with SGI. The share price is similar to the price on ebay for the starting bid on a stamp, compared to the catalogue price. Looking back over the last few years, clearly £4 a share was too high, but I believe equally that the current price around 7p is far too low. I know there has been a substantial rights issue in the meantime, but also, around 40% of the stock is with two owners. Having raised funds in the rights issue, written off / declared all the large impairments, retrenched the business, taken the large accounting loss, we surely have now turned a corner? I am told that sales of the new 2018 Commonwealth catalogue have been better than expected, that recent auctions have been good, that cashflow is now being very carefully overseen and controlled, and that debt is being reduced. Without the large writedowns / impairments in future updates, this share must be sharply undervalued? It is clear that there is still a good market for good quality stamps, and SGI will continue to fulfil it, especially since liquidity is stabilising / perhaps improving.
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.
Stanley Gibbons share price data is direct from the London Stock Exchange
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