lambrini girl
30 Jun 2015
Re: RNS >>SELL 8p target..<<...BANG ON!!...BOOMMMM!!...
bartonscooter
22 Jun 2015
Re: STy at 87p Thank you for the summary, it is helpful. Seems a great deal and a bit of good fortune for long term holders in STY
bartonscooter
22 Jun 2015
Breakout BOOOM 
Well deserved
thirty fifty twenty
22 Jun 2015
STy at 87p WOW - that is quite an value creating restructuring!A complicated deal but when it is unpicked seems that the new investor group have been given sweetners to get involved, and the less onerous debt will lead to a re-rating which gives the company a chance to grow by acquisition.So Investor group buy £13m of prefs for £6m - nice work.Then they convert 5m of the prefs (just paid £2.4m for these)for 550k shares worth currently 480k - bit of a hit!But they get a 2m UNSECURED loan paying 10% interest instead of Pref paying 3% - trade offand then get, for free, 700k+ warrants to buy shares at 75p - in the money by 100k alreadyand able to buy c.400k warrants at 50p - in the money by 120k alreadyand they get to buy the 1m RBS shares that RBS own in STY for 50p - in the money for 350k!So the net impact of this lot is a capital LOSS of £1.5m,But in return own 2m of 10% loan stockand £6m of prefs that are now likely to get redeemed (they paid c£2.8m for these and arguable worth now c.£5m) - profit of £2.2m(less than face value as only 3% coupon)So for new investors they have made in my calcs a net profit of £0.7m on the deal.But the real benefit is for current shareholders....rather than £12m of net debt (£13m prefs less £1m CASH) to be financed from c.£2m profitit is £7m of debt (£2m loan + £6m prefs less £1m CASH) to be financed by c.£3.5m profit.I use a different profit figure b/c the trading performance so so strong and order book up 23% YonY with momentum in the industries and a performing mgt team.Additionally the debt is now owned by a 27% shareholder NOT a bank.So last week the company was crippled by debt and at the whim of a bank.Today, it has a strong shareholder, and nicely geared going into a rising economic cycle.EPS could easily be 20p+ here with no tax charges for a while,and although industry might be argued to be cyclical,I don't see any reason why P/E would not be 8 at least = price of 160p.My figures are rounded and estimates but I think not materially out,the broad concept is a transformed company and shareholder base,and really it has been funded by RBS as opposed to current shareholder dilution.AND the easy thing to miss is the fact that underlying trading has such a positive outlook.All IMHO, DYOR + BoLSTY is in my portfolio
bartonscooter
21 Jun 2015
Styles & Wood Up On Refinancing With Henderson Styles & Wood Up On Refinancing With Henderson, Business Growth Fund (ALLISS)Fri, 19th Jun 2015 09:57LONDON (Alliance News) - Styles & Wood Group PLC on Friday revealed a refinancing of its outstanding convertible preference shares, with a Henderson Global Investors fund and an investor backed by the big five FTSE 100 banks taking shares in the company after buying its outstanding convertible preference shares from a subsidiary owned by Royal Bank of Scotland PLC.The refinancing strengthens the company's balance sheet, gives it a better capital structure and increases net assets by GBP3.6 billion, according to Styles & Wood, which said the move will cut cash outflows by GBP5.2 million and enable the it to consider acquisitions."The refinancing announced today positions Styles & Wood for growth at a pivotal stage in the Group's development. Over the last 12-18 months we have successfully implemented our diversification strategy to ensure that we are ideally placed to take advantage of the positive trends we are seeing in our core markets," Chief Executive Tony Lenehan said in a statement.Shares in Styles & Wood were up by 53% at 91.00 pence on Friday morning.SIG 1 Holdings, the RBS subsidiary, sold the GBP13.0 million of outstanding convertible preference shares to Henderson's AlphaGen Volantis Catalyst Fund Ltd and the Business Growth Fund for GBP5.8 million, with the two investors then converting GBP5.2 million of the convertibles into 554,666 new ordinary shares at a price of GBP9.375. That was a big premium to the company's share price at Thursday's close.The Business Growth Fund, which is backed by Barclays PLC, HSBC Holdings PLC, Lloyds Banking Group PLC, Royal Bank of Scotland Group PLC and Standard Chartered PLC, was set up in 2011 to take equity stakes in small- and medium-sized businesses in the UK.Styles & Wood issued a GBP2.0 million loan note to Henderson and the Business Growth Fund, with the proceeds to be used to redeem a further GBP2.0 million of the outstanding convertible preference shares, leaving GBP5.8 million in issue.Henderson and the Business Growth fund have been conditionally issued with 740,000 warrants, which can be used to acquire shares at an exercise price of GBP0.75 per share. There has also been a conditional purchase of 364,000 nil cost warrants by the two investors for GBP182,300, equivalent to GBP0.50 per share.Styles & Wood said 309,100 shares were placed in conjunction with the sale to the investors of the 1.1 million SIG 1 Holdings shares at GBP0.50 per share, giving them a combined 1.9 million shares in the company, equivalent to 27.4% of its equity.Separately, Styles & Wood said it swung to a net profit of GBP198,000 in 2014, compared with a net loss of GBP725,000 in the prior year, with "positive trading seen in the second half of 2014" continuing in 2015."Our opening order book for 2015 was 20% ahead of 2014 and at the end of May remained significantly ahead of the prior year and alongside the improvement in gross margin is a positive endorsement of the Group's diversification strategy and selective market focus," Lenehan said.Samuel Agini; [email protected]; @samuelaginiCopyright 2015 Alliance News Limited. All Rights Reserved.
bartonscooter
19 Jun 2015
Great results Well done to all at STY, good set of results. Great to see correction to the share price.
bartonscooter
14 Apr 2015
Re: PB [link]
wulwirth
11 Apr 2015
PB Hi guys,How is it going since Paul Bell came on the scene.White knight savior..?Dilution expert..?
bartonscooter
05 Jan 2015
Styles & Wood Wins £18 Million Branch Revamp Contract With UK Bank Styles & Wood Wins £18 Million Branch Revamp Contract With UK BankStyles&Wood will spend all of 2015 working on a branch improvement programme for the bank on a programme of works that includes replacing or upgrading approximately 4,700 automated teller machines (ATMs) across 3,000 locations, as well as rebranding 600 branches across the UK and overseas. The combined value of the contracts is approximately £18 million.Chief executive Tony Lenehan said: "One of our key strengths is our portfolio of complementary, expert support services including award winning business systems and applications and market leading projects delivery capability. This programme is a significant endorsement of that strategy and an excellent opportunity to demonstrate how our integrated approach can support our client's objectives."We have formed a joint management team with the client to deliver a significantly enhanced customer experience. This collaborative approach has enabled an immediate and efficient start to the work which will further build value into the process through thorough forward planning and easy communication."This article was taken from The Construction Index website and can be viewed here.
