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Big start to the day. My portfolio is up and plenty of blue. First buy of the day for SGI £72.
Couple of sells so far today. Still holding up. Blue most of the market.
"We're only shareholders after all....."
You mean only minority shareholders after all. Yes, that debt. They don't need a shareprice rally to return their capital.
Massive DOW rally on the books today. You'd expect London to follow tomorrow. Given the inverse nature of this one....another down day tomorrow?
Yeah, "SG has momentum behind it", BUT it's supposed to be to the upside, not down LOL
Devon, here the 58% shareholder - Phoenix, also holds all the debt. On the other hand, as per the RNS some time ago, that stake cost them overall £19m so I cannot see them risking that at all especially when up to end of March, things were actually going well. There has only been a deterioration in April like the rest of the high street. It's a great shame that the RNS for the full year figures has not yet been released. Perhaps SG feel it was all so positive before that it might create a false market? On the other hand, now that SG has momentum behind it, hopefully the long awaited recovery will take further hold, albeit that there has been a knock from the coronavirus issues; but perhaps this is getting increasingly offset by new collectors / bored collectors now building up their collections as they are forced to stay at home longer? The recent stay at home auction went well for example.
It would be nice to see a little more direction coming from SG. We're only shareholders after all.....
There was also the sale of 6% a while back which does not seem to have been purchased, so must be floating around somewhere?
You alreay know the main holders control nealy 70% of the equity. That means they can pretty much carry any vote.
That's very significant for minority shareholders. It also means they have little recourse to you, as major shareholders.and major debt holder.
Devon, how much free float would you estimate there is on this stock out of the total 427m shares?
Sea of blue out there.
Maybe people think of this as an alternative? So when the market up this goes down as they move back into more mainstream assets. Don't depair, we get a flu epidemic every century or so, plenty of time to build a sensible position. Except there not that much free float.
Usual story, the market's up, we're down.
Where's the annual update?
What about the shop? Now that it's allowed to reopen from 15th June, is the rebuilding work going to be finished off to allow the 15th June to be reality for SG?
It would be nice to get a further update filling us in on things
The markets positive cheer this morning, needs some news to recover past present price.......