Health Observer
13 Jan 2016
Re: nearly there Good pointsAs well as the asset values being questionable there will be floating charges against them which if triggered would amount to a fire sale I agree best to wait until the situation is clear.........more skeletons in the cupboard or bureau bookcase!
coolcharm
13 Jan 2016
Re: nearly there The more pressing issue here is the cash flow situation. As pointed out in my last post, should the economy deteriorates further, the banks may withdraw their overdraft facility, and SGI will be technically insolvent. How easy is it to convert those inventories into cash in the current market? My guess is, not very. Even the value of the inventories is questionable? Looking at the price of oil, it could be worth significantly less than its book value. I would not touch the shares until the cash situation improves, and if it doesn't, the sp could go all the way to 0p.
CASTLEFORD TIGER
13 Jan 2016
Re: nearly there Someone playing games here.Have the bod BEEN asked if they need money?The statement is difficult to understand but they cannot be under pressure for cash.the shares now at 63p are impossible to buy only 2500 available. 25k just popped up and went in seconds.Could be someone want SGI.Interesting story running here.My buying complete , my timing ( Monday) awful but that's the market.besttiger
TX2
13 Jan 2016
Re: nearly there I am mystified by the fall in the price of shares recently;is a big holder dumping stock?.I know I put 50p;but that was rather a view of worst case tangible net asset value rather than an expectation of the shares falling to that level.I do feel the brand names & businesses have a significant value in addition.I think SGI should remain modestly profitable at trading level but there could be non cash write downs of purchased goodwill and I am a bit uncertain of the value ascribed to high value stocks.Good luck!
Contrariwise
13 Jan 2016
What is going on? I am deeply worried about this company. I bought in at around 100p on the basis that it seemed to be trading below NAV of 175p as of 30th Sep 2015, with the market cap less than the value of its inventories. However, since then the shares have drifted in a very nasty way that suggests that some insiders know that all is not well with the company. The shares are down heavily again over the past few days. Is this just a flight to quality with investors fleeing what the consider to be poor quality assets? Is this fears over China demand? Or does someone know something?
CASTLEFORD TIGER
13 Jan 2016
Re: nearly there finished today at almost 10p cheaper than Mondaytiger
CASTLEFORD TIGER
11 Jan 2016
nearly there a good buying day...........not helped the price thoughtiger
CASTLEFORD TIGER
11 Jan 2016
Time to move forward For me its time to take a stake.I want a position here and will drip in to buy up to 150k shares.I have started today and hope to be complete by the end of January.72p looks to me to have limited downside.I see 94p a share minimum in break up value / please do your own calculations.the business that will still make a profit this year is for free. How much will they make........well I read anything from 2 to 5 million.I have written off 2015/2016 but would expect 3 to 4 million next year.At 35 million market cap and well backed by assets I think there is now very limited downside.I see suggestions of 50p being possible and I guess that could happen ,but the upside has to be 100% even if the business is stabilised. Possibly much more if the business can regain its old profitability.So I have started and you may well see a few buys over the next few weeks. not everything shows but a 10k a 72p was bought around 11 am as I start.Tiger
Hardboy
17 Dec 2015
Re: Any good news? BTRB"The management has concentrated too much on new acquisitions and the new website"And the new website was a complete fiasco - over budget, behind schedule & full of problems when it went live. So what does that suggest about the management?
coolcharm
16 Dec 2015
Re: Any good news? TX2, breaking up or and selling off parts of the business will not happen under the current management since all this mess was created by them. How much shareholder value was destroyed when they went on an acquisition spree the past couple of years? I bet they must be rewarded with huge bonuses for closing those deals, and as usual shareholders are left licking the wounds when things go pear shaped. No insiders buying even at this depressed level shows how little confidence they have in the business. The solution is to get rid of the current management, bring in a new CEO to restructure the whole business. Right now, all it takes is for the bank to withdraw their overdraft facility and this company would be insolvent, and a lot of this is down to confidence they have in the management.
TX2
11 Dec 2015
Re: Any good news? The problem is that SGI makes most of its profits from the sale of a few very high value items to a tiny number of customers(seemingly less than a dozen).When these parties do n't buy,like at the moment.the business barely covers its bloated overheads.But the problem about the very high value items is that much money is speculatively held in stock.The two small auction businesses make a modest by useful profit and probably employ little capital but the rest seems grim.I think this very complex business would be better split up into separate parts & sold to private buyers who each have the specialist knowledge to run them.As it is now I value SGI at 50p providing there are no horror stories in its stock valuation based on likely prospects.
coolcharm
11 Dec 2015
Re: Any good news? A new iteration of stanleygibbons.com is up and running now. It does look more professional and well laid out. Marketplace is now a separate section of the main SG site. It appears they have taken into account feedback from users, but is this a case of too little too late?
robbie_rooms
09 Dec 2015
Management Put this one on my watch list given the recent fall. On doing DD I hear that management are low quality to put it mildly. Perhaps this is reflected in the fall but it does not inspire confidence.
T-D
03 Dec 2015
Re: Any good news? Thanks for insight cool. Was considering buying some of these but think I will steer clear for the time being. Gla
wigwammer
30 Nov 2015
Re: TOM WINNIFRITH Hmm. TW has been pushing this since 300p.
