Stilo Share Discussion Threads

[michaelmouse] 23/5/2019 12:07

QP - I know exactly how a de-listing works thanks. They may indeed try a management buyout which I've suggested before, and of course they'd want the cheapest price possible. That's why I predicted a dire trading statement. They're not going to even try and big long term prospects up if they want to de-list are they? They do hint at possible contracts in the second-half, but it's almost deliberately lukewarm. Perhaps I'm just a cynic? ;) If management want a de-listing then it's a now or never situation (i.e. next few weeks).

The difference between Stilo and many AIM companies that de-list is that it's current market value is well below it's asset value, it has been profitable (up until this half year apparently....), it's debt free, and has about £1m cash (although they've strangely not mentioned the cash situation this time). In other words, it's not going bust anytime soon.

Some options include:-

1) No MBO, but a proposed de-list so shareholders continue to hold a private company.

2) A proposed MBO at a premium to today's share price No idea how much, but of course they'll go for the minimum they can get away with.

3) A partial MBO so traders can exit, but long term shareholders can continue to hold a private company.

4) They continue to be listed.

It's looking like point 4) is unlikely. I'd be happy with 1) and 3), particularly if they intend to pay future dividends. Option 2) would depend on the offer.

De-listings are nasty when a company has a very poor balance sheet, and is on the brink. Stilo is not one of those companies, although it's gone ex-growth atm.

They are my thoughts as a long term shareholder. Just why you and one or two others are here is anybody's guess?

If 1) or 3) are correct, I'll be glad to see the back of you all and report every half-year, but we'll see what the coming weeks bring.

On a further note they've still got to convince shareholders that a de-listing is the best option because they presently only hold 25% of the share capital and they need 75% plus of the vote. I'm a shareholder.

[quepassa] 23/5/2019 10:40

wow...you really don't understand how a de-listing of a micro-cap frequently works..


...you frequently get offered a peppercorn consideration for a share combined with comments that if you don't accept the peppercorn that shares will become very hard to trade (ie effectively worthless) as private/illiquid securities.

.... de-listed company doesn't normally want a shareholder register full of small ticket (disgruntled) shareholders


for someone who spends a lot of his time abusing me and saying I am mad, you sure do ask a lot of questions of me.


all imo. dyor.
qp

[rcturner2] 23/5/2019 10:21

what has cheap got to do with it?

if they want to delist they just get the shareholders to vote and if enough vote for it then they delist

no one has to buy any shares

[quepassa] 23/5/2019 10:14

hint.... by getting it as cheap as possible.....

i guess even an avatar would have known that....

if you think top-dollar is in the offing for investors in any potential de-listing, i am flabbergasted

in my experience, a de-listing of a micro-cap share is normally an ugly affair for the pi!

all imo. dyor.
qp

[michaelmouse] 23/5/2019 10:07

The only uncertainty now is how they'll try and go about the de-listing since Ashman and Burnham only hold 25% of the company. Several possibilities of course.

[michaelmouse] 23/5/2019 10:03

StiloLosses, I think the trading statement came as more of a shock to you than me. If you read my recent posts I said it would be dire. Your AGM prediction was more lengthy and bullish. As I've already said it's their clear intention to de-list which is fine by me. I'll keep you up to date with developments when they eventually do. What you'll do with your time is anybody's guess?

At least I won't need a "filtration system" in future. :)

[quepassa] 23/5/2019 10:01

rct - you still just don't get it...do you?


...but i am nonetheless flattered that you follow my posts so closely and avidly....


...for someone who is such a busy Cambs based business consultant, you certainly do have a lot of free time on your hands...

[stilolosses] 23/5/2019 09:55

Good morning Michael mouse...Mr Apostrophe!

You still have not told me where to stick my apostrophe!

Morning Mudbath....another of "our professional resident market expert!"

Nobody wants to buy the products and now management cannot even give shareholders any information.

Look at the past AGM reports and you will see a lot of information than the current was given. The only word in that AGM you could twist I think is "could".

" like we did last summer!"

I did not detect an apostrophe in their report either!

At least Stilo management has told us what Stilo does as a business as a chunk of the AGM was devoted to telling us what the business does.

You experts are always right and I have no doubt you still have me on your filtration systems!

[quepassa] 23/5/2019 09:35

not really...

by now even you must know -and be only too aware- that i have skin thicker than a rhinoceros's...

ha ha ha...


as I say, over time, you literally have gone mad!

[rcturner2] 23/5/2019 09:18

lol I think I hit a nerve there

[quepassa] 23/5/2019 09:16

RCT - over time, you have literally gone mad.....

[quepassa] 23/5/2019 08:45

the funny thing is that michaelmouse is the biggest avatar of them all!!!!!!!

anyone suggesting holding this, might need to consider a visit to a doctor

[rcturner2] 23/5/2019 08:44

QP - "someone who spends so very much of his precious time following stocks which he claims not to own"

You couldn't make it up, every other post on the APF thread, a share you don't own lol.

[michaelmouse] 23/5/2019 08:38

Blimey! Just a suggestion, but some of you may be better off concentrating on your own portfolios rather than trying to settle scores with avatars on ADVFN.

I don't actually think there are many PIs left here, the finals will have scared off most with the threat of de-listing and challenging trading.

The facts are that it's been a disappointing ride with Stilo so far, but it's "worth" is certainly not reflected in the current share price. I'm happy to hold when (if) it de-lists in a few weeks. I suspect management have been planning the de-listing for some time.

[quepassa] 23/5/2019 08:32

RCT must clearly have a very busy time and occupation being a Fen-land business consultant, for someone who spends so very much of his precious time following stocks which he claims not to own...

...yeah, heard that one before....


funny old world innit


cheery-bye and Good Luck

[rcturner2] 23/5/2019 08:26

RCTurner22 Apr '19 - 13:05 - 2791 of 2931 Edit
0 1 0
I must admit any sane person would have moved on from their losses years ago. My brother in law holds these for his sins and recommended them to me. Fortunately I did not buy. Seems like yet another useless company on AIM to add to the very long list.

[rcturner2] 23/5/2019 08:24

lol QP luckily I have never held this in my life

[michaelmouse] 23/5/2019 08:17

Yes, despite the trading update, the "worth" of Stilo is way above these levels. The cash pile I'd imagine is still around £1m with no debt. At the current share price, the business is valued at just £400,000.

[escapetohome] 23/5/2019 08:13

The usual victims?

Yes the victims who manage risk, and mutibag with tern, and losse small change on others.

[quepassa] 23/5/2019 08:10

yes, the usual victims to be found here....

.... sacrificial market lambs to the slaughter.....


"Ouch"


oddly RCT was at one time a decent poster who actually occasionally talked a little sense

over time he seems to have literally gone mad

[clocktower] 23/5/2019 08:09

Did you manage to unload your remaining sock mudbath, when SL was calling this correctly? Hope you never took to big a hit having done so well in the past with this one, and I am sure TERN made up for any recent losses here many times over.

Where next for your battles with SL?

The day they move the office to the USA was curtains day.

[escapetohome] 23/5/2019 08:04

One cost saving i recommend is removing any incompetent bod that may exist. A takeover will do that.

A cheap one with this performance.

[michaelmouse] 23/5/2019 07:59

LOL. Yes mudbath, SL's AGM statement was way too lengthy and optimistic.