Swallowfield Share Discussion Threads

[roccoco] 22/10/2008 09:00

Do large shareholders represent other shareholders interests? I understand that at last year's agm the two largest shareholders came together and despite two votes controlling over 40% of the votes, they had no other support and they were beaten. This surely destroys the argument that these two big shareholders represent 'the shareholders'. Ordinary shareholders want Marshall to stop trying to throw his weight around. HGFDSA, You are right,Marshall's festering attitude distracts the management from the running of the Company.PG should wake up and see that he is being manipulated by Marshall. Once Marshall has Beale on the Board he wont need PG anymore. The cuckoo will be ensconsed in the nest and dont be surprsed if the good management moves on.

[roccoco] 16/10/2008 17:54

It is a brave investor who spends cash in this falling market. It is therefore surprising to see Western Selection adding to their SWl holding at such a high price when many of their other investments are showing such lows. Why invest in SWL when they could add to NBI or many others? Obviously they have great faith in the excellent management at SWL and if this is the case, their wisdom is to be commended. It is pleasing that Mr Marshall has seen the errors of his ways because my understanding is that he was, until recently, very critical of the management team. Or is there a more sinister take on this recent purchase? Is Mr Marshall using his shareholders money merely in the arrogant pursuit of power? Is he trying to manipulate the voting at the forthcoming AGM to place his man on the Board? I hope that Mr Gyllenhammar knows what he is letting himself into. The AGM is going to be a media event and if these two shareholders are perceived to be working to the same agenda then this would clearly be a 'concert party'. The Combined Code clearly states that a Director is not independent if that director represents a substantial shareholding.

[hgfdsa] 06/10/2008 16:36

WSE has been buying shares since last November so cannot be part of a concert party, or the takeover panel would have blocked it.

IC article was in "Company results" section, and mainly repeated parts of the prelims. IC "Tip Update" was: "New management is doing a good job of creating a better Swallowfield business. Good value". Hardly a "very positive comment".

Prelims said appointment of new director was at "advanced" stage, but deafening silence since. Any news?

[miked500] 03/10/2008 18:14

could you post the positive update from the ic?

[roccoco] 03/10/2008 15:41

My chum has seen Blue Oar forecast for 2009 and there is a prediction of Div Per share of 7.25p. which would be a yield of 8% at 90p. If base rates drop to 4%, 8% yield after basic tax looks good.Shares look under pinned.

[roccoco] 28/9/2008 11:28

My contact says gyllenhammer (29%)does not want a seat on Board. I imagine that if he wanted one he would be offered the responsibility. Marshall is only a 10% man, or is he looking to be a 29%? They obviously do not control company otherwise they will have to bid. Some would argue that their joint activities at last AGM identified that they were working in concert....dangerous game to play. Recent share price rise on a bad day due to very positive comment in Investors chronicle???

[topvest] 14/9/2008 17:35

The new face onto the Board should be Gyllenhammer or Marshall; unless they agree to the new director as these two holders virtually control this company.

[roccoco] 11/9/2008 15:49

Market makers are short of stock.Over 60% of stock in four hands.

[hgfdsa] 11/9/2008 11:51

Results NOT excellent. Flattered by exceptionals, reduced interest (reflecting reduced debt) foreign exchange profits (£160k v loss last year of £50k) and tax credit from changes to IBA. Strip these out and operating earnings actually declined very slightly from last year. Good to see they are planning to bring new face onto Board.

[roccoco] 11/9/2008 08:00

Good results, top management team, no need for Marshall trying to throw his weight around.

[topvest] 11/9/2008 07:26

Excellent results and dividend announced today. Was anyone expecting a final dividend quite that big - good news here and for WSE.

[topvest] 07/9/2008 09:08

Western Selection have invested for a long term ride and so I don't think they are desparate to liquidate their investment. Swallowfield should give Marshall a seat on the Board as he is an experienced Chairman and must be able to add value here.

[roccoco] 07/9/2008 08:42

Figures out on thursday. net assets 110p. My chum close to the coal face gets good vibes about performance of management team. European and chinese operations bedding in well. Gearing down ready for bolt on. How will swede and south african get their money out?

[roccoco] 09/6/2008 12:28

Looks like Western Selection want to build a substantial stake. If they work with Mr Guillenhammer they will have over 50% between them. Looks like this one has a floor in the price with Western Selection mopping up any spare stock; will there be a trading statement end of June?

[topvest] 02/6/2008 21:44

NTV - Yes, something is going on. I'm a WSE shareholder. Whilst I think this company is good value, I'm not thrilled at them buying shares at this price, when there are much better companies, much cheaper.

[ntv] 02/6/2008 21:19

noticed wse bought some more
with two large shareholders heading towards 50%
this has to open to a takeover attempt

[blue lagoon] 11/1/2008 09:51

Roccoco. If you put your specs on you will see that I bought these at over 100p a long time ago. I, like you, think this one has a long way to go and I like the new management and I certainly like to see them buying shares. You obviously think you know what girls do. In your dreams old man!!!!

[roccoco] 11/1/2008 08:50

Hi baner and topvest. You have been quiet since criticising management. I hope that you agree that they appear to be doing a good job. They are buying shares on a regular basis and I like that commitment. High street looks shaky but somebody has to provide cosmetics etc, probably the last thing that girls stop spending on. Cosmetics are regarded as a good investment if it allows girls to hook the best guy. Blue lagoon. I hope that you are an investor, yes I have bought into these but I speak to someone who has a few more than me and he keeps his ear close to the company.

[blue lagoon] 10/1/2008 07:29

I see that all of the Directors have been buying stock. This usually gets a mention in the Investors Chronicle. Not much stock around and a tip could send this one haywire. I reckon that four shareholders have 60% of this one and I read in the FT that the industry is ripe for rationalisation. Would these four sell at 150 or does anybody have any thoughts. I think Roccoco is close to the company, are you a major shareholder???

[blue lagoon] 05/1/2008 19:05

Hi Roccoco.
I hope you are right. That would mean shares have to rise 40% to reach asset value. I bought into these a long time ago at over 100p when there was a good div. I live in the westcountry and have had a look at the site. It is surrounded by houses and could support 10 acres of houses ($10 million?) I assuime yiour swede is Peter Guyllenhammer? who has 30%. My research on him indicates that he is in and out of companies like a yo yo and he must be looking for way out. If I was he (if only!!!!) i would be talking to McBrides or somebody. If he can get 140p ($15 million) the buyer will still get company on the cheap. If site is worth $10 million that gives all the contracts and cost synergies for $5 million. No brainer!!!. I was always told 'Look for your shirt where you lost it'. I have some cash on its way, lets see if I can get it right this time. Knowing my luck there will be a profits warning and shares will be worthless.

[roccoco] 05/1/2008 16:09

A fellow shareholder has seen an upgraded brokers report which identifies NAVPS at 105.4p.A prospective PE of 10.6 with 34% EPS growth and a div yield of c 3.1% (3 x div cover for 2008). This company is acquiring a reputation for underestimating profits resulting in upgrades. Any guesses what the Swede and the South African will do with their stakes (40%) if share price stays in doldrums?

[roccoco] 31/12/2007 10:10

Does recent anouncement take NAVPS over the £1 mark?