Member Info for CarpeDiem1

It would be better in my view if SG sold some stock even if discounted, and used these proceeds to pay down 2 or 3 million of its loan facility to remain within covenants. Profits from current auctions and dealing could then be used to start to replace investment stock with collectables stock. I don't think the existing main shareholders would be too chuffed at stumping up working capital on their own.

Sgi have undoubtedly made a complete hash of their business which stems entirely from the decision to sell investments to the detriment of everything else. The final act to ringfence the investment liabilities was necessary but it has trashed the SG name in the process, and remains to be seen what effect this has on the Group. They must now quickly get a grip of the philatelic division and start selling stamps to real collectors. If I were in charge I would have the staff making phone calls to everybody on their mail list to drum up business. Sg must have virtually every collector in the country somewhere on its maillist. It needs someone in charge who can be assertive and try to bring great collections to market and become market leader for stamp auctions rather than Spink or Grosvenor.

Without an RNS one must presume the large holders are not selling. So holders of 5 million shares or less (under 3% of stock) must be doing the selling. If there were 5 million shares up for sale I think we must be close to the end of the selling given the volumes over the last week or so. I am tempted to buy more but like everyone unsure of where this will go. At 2p a share it values the company at 3m quid. A joke surely. Just have to tough it out and wait for an update or an RNS. Any idea when dec trading report is due?

A lot of buys this morning and the sp still falls. Some market shennanigans going on.

Unfortunately the fall in sp has been dramatic and there are still some folk rushing for the exit. Even if the stock value is slashed by 50% that is still enough to cover the bank loan. They have just had a sale of their own coins plus a further 1m identified by management for sale. The liabilities on the investment buybacks are over so the company can trade normally. This is a cash generative and profitable company as antiques and fine art are generally doing well. The warrant alone must be worth 5m. If Sg can turn the corner I can see the sp rising quickly to the 10p area soon.

I have spoken to a number of well connected stamp people over the last few days. Some say don't touch with a bargepole, others say SG might have turned a corner now the investment liabilities have been removed. The forthcoming Royal Wedding might be beneficial too. I think as Pearls states, a company announcement about how the new figures are looking but until then any valuation of the company is guesswork and some folk are still running for cover. But if the company announced say 15m turnover and 3m profit, that wouldn't be too bad would it?

It is rather confusing with apparent steady buying yet the share price is unmoved. This indicates a large holder may be offloading yet no official confirmation of this via an RNS or any indication who is buying. Pi's are left in the dark as always. I have been using this opp to buy more and have an average of around 5p now. I am looking forward to an update as I have been told the recent auctions were good and the market outside of investments remains buoyant. Hopefully the vast savings on running costs will feed through into the trading picture soon.

I have bought another 40,000 today. Basically this is a binary bet on SG pulling through. If the figures next year show SG making a profit and paying down the loans this will become a 20p share in short order. If it doesn't then we have lost our investment.

Seems to have stabilised at the 4-5p mark. Lets see if the 720k buyer comes back. The business is still in chaos due to lack of staff. Maybe the recent philatelic appointment will bring some stability.

3p now. I think they could be headed for suspension as folks rush for the exit.

I presume if there was any good news they would release it. Silence may be telling. I think the liquidation of Guernsey was the last resort option, hence the company reluctance to do it. Not out of the woods by a very long way and much depends on current trading conditions. I still feel the audited stock value is too high particulrly if it is based on investment buyback costs. If they buy a mint 5 pound orange for 5000 pounds and sell it to investments for 15000 and buy back for 16000, what is the audited stock value? Answers on a postcard.

Just as an aside, a special resolution was passed at the recent agm allowing SGI to buy its own shares. At 3p a share, its bargain basement stuff and values the company at 5 million only. Resolution 8: To authorise the Company to make market purchases of its own shares Proxies: Total proxy votes cast were 41,945,041 of which 41,109,790 (98%) were in favour, 81,839 against and 745,802 at discretion. 10,610 votes were withheld.

Unfortunately even with the discounts the penny blacks are ludicrously overpriced. I can't see them selling too many mint blocks of 4 at quarter million, but lets hope they had a good sale nonetheless.

This moneyweek piece today. http://www.thisismoney.co.uk/money/investing/article-5114377/Stanley-Gibbons-investment-arm-goes-administration.html Hitting Gibbons reputation.

The 40 million stock less bank debt 17 million less 6.5 million owed by Guernsey should leave tangible assets of 16.5 million plus whatever the brands are worth lets say 3.5 million. I realise there are other bits and pieces to consider but basically thats it. A net value of 20 million. The only trouble is the stock could be worth 30 million or 20 million which then reduces the value of the bizz accordingly. The main question is whether now SG can trade its way back to profitability. If it can the current 7.5 million valuation of SGI will seem very cheap. If not the liquidator awaits.

I have just under 100,000 shares at 7.2p. Its not big money, but I wouldn't like to lose it. I agree with you that the investments ringfence was essential to keep the company afloat. I could have told them 10 years ago it was basically a Ponzi scheme, and plenty of people did I am sure. Turnover is going to be cut hard but I hope this is the nuclear option which will in effect leave a lean business standing albeit with significant borrowings.

The trouble is that when it gets down to this level investors will panic and try and get out with what they can. I regret buying more at 6p, but there we are. Stuck with it now.

very little volume here but the price being marked down severely. Various blogs and articles I am reading are bad news stories only and entirely as a consequence of the announcements this week. I had a quick word with the auction staff this week and was told it was very busy. An update or forward looking statement at this time would be useful. How many shares do you have Pearls?

Institutions won't be looking here unfortunately. It is now a small time AIM share with an mcap of around 10 million. Only hedge funds looking to break it up or wealthy collectors who fancy a plaything will be looking.

Thanks SGD. Holders will just have to tough it out. No point at selling for 5p now.