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Hi everyone, thought I would join in, I've really appreciated the posts I've seen over the past 6 months or so. I'm in to JSG for 112k shares averaging at about 28p at the moment. In for the long haul. Things seem to be happening, with companies and directors buying in. I'm looking forward to this time next year!
..and still the share price moves down!! Most peculiar.
John Talbot has raised his holding back above 1%. can anyone figure out if he paid market rates for these shares or are they some sort of options , related to performance? See recent news on the following pahttp://www.iii.co.uk/investment/detail?code=cotn:JSG.L&it=lege If he has bought these with his own cash then it is a very strong buy signal. We need the other directors with tiny shareholdings to do likewise.
I'm no expert myself, but I gather that the newly issued shares are not yet trading and are not going to trade until after Aug 29. The price for the shares that are being issued to the existing share holders are set at 20p ( so no great discount available just right now). Only when the existing rights issue is completed will the total new share outstanding be able to trade. Management said that they have no doubths about the rights issue, They can safely say this as most of the new cash was gotten from existing shareholders, ie many/most of the existing shareholders stumped up for the 'new' shares. I think they are playing this very well. The cash that the bank requested to be raised has been done, and now the shareholders that have stuck with the process have the chance to get some more shares via the right issue. There is no need for the extra rights issue, it is being done ot reward loyal sharholders. It is very difficult for an outsider to get around all of this and my guess is that only those who understand JSG and all that has happened will have gone for the shares. Post Aug 29 will be different. Then we need to see some good trading reports to more the price up. My guess now is a great time to buy more shares. I wish I had the cash.
Im here, more of an observer at the moment though, patience is key! Used this as another oppourtunity to buy some more JSG shares, in big now, well for me anyway, and I have every confidence in what is happening. Orwell, I'm not exactly a pro at knowing a lot of info, as in, the rights issue, what is actually going to happen? and how will the current shareholders get there fair share, since new cheap shares are being issued?
I meant in terms of price, I guess we just have to wait it out and see. Seens like we r the only one using this board now!
I don't want to sound like the eternal optimist here, but it's not going down fast. 93,000 shares is not awhole pile, it's about £18,600, which could be just one shareholder who has to have cash this morning. That's just a guess.
That's what I thought. I tried to find some news on this but can't. Not really sure what is goin on. Going down fast though
I've no idea. But it does not make sense as it is now at the rights issue price.
?
I'm not worried. The share price is all over the shop at the moment. It's got no connection to how JSG is trading, it is just in limbo until after the rights issue in August. I see this as a totally undervalued going concern that will come good in time. Much of the jigsaw has been put back together again in the last few months. The banks are happy through to end 2010, the cash that was raised recently was done with ease ( spoke to one big share holder and they said that they did not hesitate to chip in) The rights issue up ahead will not cause a problem. What is needed most now is for the remaining directors who hold tiny stakes to buy in and let us all know that they have full faith in what's happenning. After that it will be a matter of waiting for trading updates and reports to show that the business is good and that the whold debt situation is under control, which I personally believe it is. The recent injection of cash would not have happened so swiftly if there was any problem with the company. The one bit I do wonder about are the big deals that are going through, 9.9 milliom shares in one day, and over 1milion on at least 2 occasions since. This is a patience play. I year and it will have trippled at least....The rights issue is set at 20p, so until thats over and one with the price can't really move up.
is anybody else worried? just keeps falling
maybe late reported trades.
over 1m shares have just traded for 24.51p.
why this continues to fall. i thought after the move to aim there would be some consolidation. anybody have any opinions
Investeringsselskabet Luxor A/S now holds 5.2%, up from about 3.5%. This is the bank that was though to be operting on behalf of the scandinavian group that were roumered to be interested in buying out JSG.
trading, almost one sixth of the company traded yesterday! Someone with big holdings had to exit because they can not handle the rights issue that's up ahead, and someone else grabbed the chance to buy a bargain. The market has discounted the new issues of shares and, once the rights issue to existing shareholders is completed in August, the company is will be back to even keel. Currently the share price is not reflective of the value of the company, refinancing dose that to a share price. But when all is settled the price will return to 70p plus, maybe about spring next year.
4 trades of 1m shares have just transacted, what might that mean?
4m shares sold. That's very high volum, and the SP holding up nicely. It may be that alot of smart investors are getting in and the very last of the weak hands are leaving ahead of the next share issue. This is bound to bring a bit more stability to the stock. Much, if not all, of the 150m shares placed will be with insititutions, and they know what the company is all about, that's a big endorsment. We can expect to see ananlysts get thier finger out over the next few weeks and run the rule over JSG. Should be interesting!!
LONDON (ShareCast) - Struggling dry cleaning group Johnson Service is to more than triple its shares in issue with a placing at 20p per share to raise £30m. The placing proceeds will be used principally to repay a portion of the group's bank debt and for general corporate purposes. Johnson added it also intends to raise a further £10m in the near future with an offer to existing shareholders. The placing shares will represent approximately 252.2%. of the existing issued ordinary share capital. "Successful completion of the placing will allow the group to further reduce its level of indebtedness and will lead to a significant reduction in the interest rate applicable to the group's remaining debt," chairman Simon Sherrard commented.
150m new shares to be issued at 20p each to raise 30m http://www.citywire.co.uk/personal/share-prices-and-performance/announcement.aspx?AnnouncementID=928909
Some of the directors hold insignificant amounts of the stock. They need to buy more to show that this can work. Step up to the mark....please..;)
has moved up already from the lows of earlier. JSG has secured £30m from institutions and no doubth the next £10 will not be a problem.
i hope so mate, i have a lot invested. I was hoping to get around the 40p mark quite soon a month or so ago, not sure now.
Look at it this way. The bottom is truely in, we can only to up from here. Granted the turn around is not the fast job we all wanted but the business is good and in just one year the share price will be well back up at 70p plus.