Superglass Share Discussion Threads

[snatander] 19/4/2013 09:30

SPGH interesting buys
Irish bid talks?

[simonparker5] 19/4/2013 09:16

Some interesting trades today, is this our Irish friends upping their stakes?

[the heed] 10/4/2013 11:51

Anyone buy into CHL here???

up very nicely over the last couple of weeks....

[qut] 10/4/2013 11:43

Small buys, but the price is responding. Is news on its way? Funnily enough, I've just had a call from someone offering a grant to insulate my house. Maybe the government's insulation policy is starting to filter through which should be good for Superglass

[snatander] 09/4/2013 14:06

I heard the irish boiys are buying

[extrader] 09/4/2013 13:53

Hi qut,

Based on 2 x buys tot. 94k @ 4.23 and 4.25p....= roughly GBP 4K.....

[qut] 09/4/2013 13:33

There's life!

[the_beagle] 27/3/2013 08:59

And me! Looking totally friendless again this morning at 3.5p bid.

[napoleon 14th] 26/3/2013 00:24

Glad I abstained...
Woof, woof.

[the heed] 19/3/2013 07:43

Looking for high risk high return?
Churchill mining, fell from 120p to 10p because of licenses problems in Indo.
They are going through arbitration in the states in the next six months hopefully a result will be known, its an interesting case.. 50-50 chance, falls the right side you could a ten bagger very quickly.
DYOR.
Regarding Superglass.. Its a slow burner if you ask me, the insulation market is struggling due to lack of new builds... cant see a buy out, more strategic investing I think.

[qut] 18/3/2013 22:28

One thing is almost for certain - the 3 Irish investors are in this together and, if my Maths is right, they own getting on for 40% of the shares

[kinbasket] 18/3/2013 17:56

Tommy Conway is the NCB analyst who did or does cover Grafton group.

He and Michael Chadwick are almost certainly known to each other.

I'm sure it's just a coincidence....



I have no idea whats going on here but it's not normal. I think Topvest is right that a complete wipeout is the most likely outcome for shareholders. However, it wont be because the company is broke. It'll be after some kind of corporate activity. I have a free carry here and am planning to hold on in case there is a bunfight.

[qut] 18/3/2013 12:58

beagle - exactly what I thought! It seems something is going on behind the scenes

[the_beagle] 18/3/2013 10:24

Date of transaction....22nd January! Slightly late in reporting!

[knigel] 18/3/2013 09:57

With respect, why all the recent stake building then??

[extrader] 18/3/2013 09:54

Hi qut,

Thoe only Tommy Conway that google throws up is Capital Markets Director at NCB-Investec, an Irish stockbroker firm.

This Conway has given talks on REITS and has also worked on large-scale corporate transactions eg Ryanair IPO.

If he is our man, then maybe we're looking at some kind of break-up/asset strip, to get at SPGH's supposedly undervalued landholdings ?

Interesting to see what happens next !

ATB

[qut] 18/3/2013 09:37

Tommy Conway - another Irish connection??

[topvest] 17/3/2013 12:05

With respect, I think you are trying to look on the bright side. The stark reality is that this company has been sliding relentlessly for 5 years and now they are running short of cash again. That's a wipeout for shareholders coming in my view.

[knigel] 17/3/2013 09:43

Also the words "these debt service obligations will be unsustainable" implies that it could be a problem over an unspecified period not immediately. There is time for the market conditions to improve and/or to arrange new funding.

[kinbasket] 17/3/2013 09:13

topvest,

But it's only 425k in quarterly payments, starting in Nov. The RNS is misleading at best. The run rate business should be able to cope with that if the savings from project Phoenix are as stated.

They only need a couple of million to make the first years payments and then the annual 5m in savings should see them right.

I think they are painting as bad a picture as possible to pave the way for some kind of management buyout or de-listing.

[qut] 16/3/2013 21:16

They also expressed some optimism in the statement and savings of £5m per year should be kicking in soon from the Phoenix Project. If this company is viable in the long run, I should imagine they'll find a way around the debt problem

[topvest] 16/3/2013 14:04

This is the killer comment:

"However, debt amortisation payments are due to resume in November 2013 and Superglass is scheduled to repay GBP8.2 million of debt in aggregate over the three years to November 2016. The Board's view is that for so long as market conditions remain as they are now, these debt service obligations will be unsustainable."