Superglass Share Discussion Threads

[topvest] 15/3/2013 19:27

I would be very surprised if they could get a placing away at the current price. They had a major fundraising not long ago and failed to turn it around. It will be massively dilutive, if at all, in my opinion.

[the_beagle] 15/3/2013 16:28

qut...I would have bought at under 4p but didn't quite get there. You have to remember that the Irish boys are in at about this level and they are not here for health reasons.

As I said earlier I don't think there is an imminent fund raising in the pipeline. The company is not skint (quite!) and talk of a placing imo is wide of the mark.

If however there were a small placing at say 5p I could see a rise to the recent highs.

A good each way bet, but I missed the bottom and will watch for further signs of progress before re-committing. For a worthwhile purchase I would have to sell elsewhere as like everyone else at the moment cash is scarce.

[qut] 15/3/2013 15:21

This is where the price was earlier this week!

[red army] 15/3/2013 14:59

FUND RAISING AT 5P?????

[qut] 15/3/2013 14:52

beagle - how low did you think it would go?

[knigel] 15/3/2013 14:38

Got some earlier... cant be much free float?

[the_beagle] 15/3/2013 14:37

Missed the bottom, damn it! Never mind. GLA. TB.

[knigel] 14/3/2013 19:54

Topvest - as I said it is now very high risk but look at the share price movements (both ways) recently. I agree if you invest here do not put in any more than you are prepared to lose.

[topvest] 14/3/2013 19:45

Hmm - this is one to be avoided in my opinion.

[knigel] 14/3/2013 19:31

The lower the share price the harder to raise equity! It could be at 1p (if there is a placing) at this rate. However this is now looking like a decent punt for those who enjoy high risk shares!

[qut] 14/3/2013 18:54

If you're going to do a fund raising, you don't normally announce the possibility in advance and decimate the share price!

[the_beagle] 14/3/2013 16:30

I don't think fund raising, especially of the placing sort, is likely for at least two or three months. Anything could happen with the new investors before then imo.

[qut] 14/3/2013 15:04

But where is the anticipated fund raising ( heavy dilution? ) going to take the share price?

[simonparker5] 14/3/2013 14:49

Yes beagle, getting very near a re-entry point. Less than 4p would be good.

[the_beagle] 14/3/2013 14:43

6 closing T trades, £5000 worth, just knocked 20% off this. Glad I wasn't tempted to repurchase. The lower they get the more tempting it is though!

[qut] 08/3/2013 15:49

My sentiments exactly re them keeping a lid on the price. Why announce that Miton had taken a 8.58% stake after the 'refinancing' RNS even though they knew about Miton's stake on Monday. They knew if they announced that first, the price would have risen; announcing it after, obviously it hasn't made a difference to the price. Also, the RNS about not knowing any reason for the share price rise - again designed to keep a lid on the price.

As kinbasket points out, they're waving the heavy stick of 'significant dilution' based on 'if'. IMO, the company could be close to coming out the other side much stronger providing the debt situation is under control. Why else would Miton have taken their stake?

Beagle - I might be wrong, but I thought I read an announcement was due 11th March. Maybe the last RNS took its place

[the_beagle] 08/3/2013 14:31

For how long has the 72k DMA buyer at 4.83p been on the bid side. Obviously ineffective as sales going through at 4.55p. AIM ought to stop that sort of trading imo.

[the_beagle] 08/3/2013 10:52

Spot on. The BOD appear to be doing their best to kill the share price There has to be a reason.

[kinbasket] 08/3/2013 10:11

The last thing the BOD want is a takeover unless they have some very juicy contracts of employment

Unless the management have a relationship with the Irish and are planning a management buyout.

Grafton Group are a client of Superglass. If you check out Graftons outlets you'll find a lot of them are Superglass stockists. So Chadwick and Superglass are not strangers to each other.

I'm not a conspiracy theorist type but the last two RNSs look a little odd to me. They stink a little of trying to put a lid on the price. Certainly the one from two days ago is very odd.

They need to make the first quarterly debt payment in November of 425k. They had cash at hand in the last results and are turning over +£30m a year. True they are loss making and burning cash but the new cost saving improvements should see that start to reverse.

What they've said is "if business is still bad in six months we might need some cash" Then they threatened heavy dilution. This will put a lid on the price for the foreseeable future. If you are looking at a buyout this would be a good way of going about it.

Just saying, that's all....

[the_beagle] 08/3/2013 09:22

The Irish boys have got 33.5% of the company at about this price level as they were all bought pre-spike.

The Directors have 5328 shares. Yes, 5328!

The last thing the BOD want is a takeover unless they have some very juicy contracts of employment.

A 10p bid would secure it imo, maybe less.

[snatander] 08/3/2013 08:31

this is where the bid pops top

[the_beagle] 08/3/2013 08:31

It's my guess that Henderson Global who last reported a holding reduced to sub 13% must have provided the shares BN acquired. Normally they would RNS several levels crossed. They haven't so maybe they are still disposing of shares (not through the market) and a couple of RNSs will appear very soon showing a further buyer. AIMHO.

quy....What were you expecting next Monday?

[qut] 07/3/2013 19:01

Yes, only worth 250K now, but they must have paid at least double that. Something doesn't quite add up here. Are we still expecting a statement from the company on Monday 11th March?

[extrader] 07/3/2013 16:36

Hi qut,

As a GBP 1.8 BN FUM fund manager, you'd hope they'd done their DD, wouldn't you....?

Mind you, their 8.5% stake is only worth about GBP 250K ie probably less than their analyst's salary (;-), so maybe not something they looked too closely at ?

ATB