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So should we add that to our SEXIT formula? Pearls article DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW. & Dignity's Non-Exec's "lack of suitability of Gary Channon " & "Phoenix has made ill- advised public statements which have been self-serving and have had little regard for the wider interests of shareholders and other stakeholders. " What a merry ****tail that is! ;)
*S(tanley Gibbons) Exit for Phoenix SG & Aurora =SEXIT
Dignity's share price, alongside Hornby's, has been in decline for the last few months. Dingity peeked in July @940 and today is 692 (Hornby is also on a downward trajectory) - neither appear have shown much reaction to this news. -- Pheonix have c130m tied up in this ménage à trois. As far I remember.
If you are considering risk, you might also read what the Dignity Non-Exec's said in an RNS, Released 07:00:04 13 April 2021 "Not for the first time since the Board convened the General Meeting to consider the resolutions proposed, Phoenix has made ill- advised public statements which have been self-serving and have had little regard for the wider interests of shareholders and other stakeholders. The Board has been informed by proxy voting agents, ISS, Glass Lewis and PIRC, that they are advising their members to support the Board and vote against both resolutions at the forthcoming General Meeting. In light of Phoenix's most recent statements, the Independent Directors are more convinced than ever that it is in the best interests of shareholders to allow the current management team to finish its work without handing executive control to Phoenix." " That Phoenix has chosen to "go public" on these matters prematurely serves only as a further illustration of the lack of suitability of Gary Channon to be appointed as someone responsible for the executive function of the Company." - or as Pearls describes them, our supportive shareholder.... Phoenix had build a 30% in Dignity who's market cap is 349.70m
"Sir Peter Wood and Gary Channon don't get involved unless there's a good reason." Gary Channon has always been involved, "Gary Channon co-founded Phoenix in 1998 and has been the Chief Investment Officer since inception". Sir Peter Wood launched Direct Line, so I would imagine he's going to be focused on the digitization on Dignitiy ' funeral plans, to put it in context, he's put c2.5% of his calculated fortune in this.....Dignity is probably going to be the main focus as Pheonix has the most capital committed, has been just been through a battle to take control of the Board, and frankly...eventually we all need a funeral, but none of use need to buy stamps. .....research and understanding is so out of fashion, maybe Castelnau couple promote that.
Exprs0, I can see it doubling or even tripling in the near term once the Castelnau news gets media attention. That combined with SGI's NFT marketing and the 1c magenta publicity should be dynamite here. Big hitters like Sir Peter Wood and Gary Channon don't get involved unless there's a good reason.
"wait for the SG marketing team to step into full gear" Where have they been for the last 2 years? You have often complained about the lack of IR! They haven't begun to "publicise" it after, what? After almost 3 moths? That suggests they either don't know how to, or no one is interested after the initial new coverage....I suspect the later. NFT's already look old news. How long do you think it's going to establish fractional stamps? As long as it's taken to establish blockchain? Lets think at least a handful of years. Maybe even a decade? Castelnau launch by 18th October.....still no sign of that connected parties statement, SGI is the junior partner in all this, that's why Phoenix get 50% of any stamp sale and Castelnau get 80% of platform. That kind of suggest they just want SGI to keep going, so they can exploit the IP, even your post back that up....did they write debt off at the AGM as you were hoping, tell you about Castelnau, restructure the balance sheet as you said" this business is controlled by it debt"? No...they just in the background planned SEXIT. As your article said DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW ;) I doubt STAMPEX will resolve that.
Devon, wait for the SG marketing team to step into full gear - the 1c magenta is still being sorted out at 399 Strand, and they have not really begun to publicise things. Add to that the NFT's etc coming through soon and their publicity plus the Castelnau launch by 18th October. Whatever else, there's going to be a lot of publicity around focusing on SG. I am most interested to see how successful Stampex is this year - I suspect it could be a decent turnout. The auctions are generally top performers for SG
Every day I feel the Castelnau IPO feels less like strategy and more like desperation or opportunism. Not sure it's going get away well. There's to many over priced opportunistic IPO's around, fuel for the bonfire..inexperienced and new investors. They've jumped on the wagon at a good time LOL
Thanks for the article Pearls: "The Castelnau project appears to be like dangerous. Previous efforts to flip round Gibbons and Hornby have failed. But with Wood and Channon within the Fat Controller’s cabin, buyers received’t be steaming into the unknown.' DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW......all sounds appealing SEXIT= last chance saloon or to quote Carpe "When they start parcelling up the debt, you know it's bad!"
"Castelnau IPO commences trading on the London Stock Exchange on 18th October." Thanks for reminding us Pearls of SEXIT Day S(tanley Gibbons) Exit for Phoenix SG & Aurora =SEXIT! It sounds a bit like someone is getting screwed, I wonder who in, as you say, this incestuous tryst? "SG’s changing position will be made clear from the Castelnau IPO." Well we know one thing, it's not an equity stake in Castelnau, Companies have to make "Related Party Transaction" statements and there's no mention of this SGI stake in Aurora RNS or Castelnau IPO Pathfinder so we can put that bed for now. Kick that ball out of fantasy land. SEXIT, as they de-leverage, you cheer from the Stadium. ;) If I'd known Castelnau IPO was going to get you so over excited I wouldn't have mentioned it....SGI have remained very quiet on this issue.....Your an EXITeer and SGI are the Remainer, you are our own Nigel Farage LOL
LOL what a wheeze...take a rag-bag collection of under-performing of assets: undertaker, model trains and stamp collecting (out of politeness don't consider too long what they have in common besides Phoenix, don't even think about the Grim Reaper) and mix in a recently bought digital agency and then call it a lot more valuable than the sum of the parts. Offer it to the public as a way of reducing your own risk and bringing in some more lovely management fees, and in the guise of digital transformation, and ask them to hand over lovely cash ....then laugh all the way to the bank. LOL it's genius.... for them.
Is that the one Auroro have unloaded their SGI holding into and Pheonix SG (who's main asset is SGI) have also unloaded their equity into and Phoenix have offered up as an IPO.....think about that for a moment....it's an exit by any other name. ;) Everyone seems keen to reduce their exposure to SGI, bundle it up, with other assets, and sell it to the public! Now I've thought about it, I've gone off the idea of even Castelnau's IPO at a discount. As you say, incestuous. It's like a ball of twin that's not done it's job, so now it's time to shift it along to the public. I bet they hope that some dumb money doesn't think about all those cross holdings in much detail. I thought you were the "SG publicity machine" haahahahaha but we can never say you haven't started ramping, you've ramping it up for a couple of years now LOL