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You pay 65% marginal rate of tax on earnings over £100K in the UK, higher rate of rate plus you lose tax free allowance etc. An investment of £50k in SIG shares is not an insubstantial part of his income. Even with a large basic package. Even it was £5k I would understand your comment about "peanuts"
Reason for 24 hour delay is interesting . Could it be just admin delay caused by auditing and covid impact on ability to visit sites etc ? Or perhaps there is something bigger to be announced and they are finalising detail. But what ? I agree a bit strange to put back results by one day...especially as they’ve been delayed by a few weeks already. Brain scratch ??
I'm not sure of a ceiling but 23p seems awfully low given covid restrictions easing for its sites, plenty of cash. Even with debt, Enterprise value is not 23p, more like 40-60p. I believe the cancellation of the Proposed Disposal of Building Solutions to Kingspan Group is a positive sign as it was a giveaway and its profitabble. .
Because the new strategy will be presented on the 28th May by the new CEO. What will they do now the Building Solutions sale to Kingspan has fallen through? What cost containment measures are going to be implemented? How will they rebuild shareholder value after a terrible drop from 100p+ to 23p? Will they release cash from the Air handling sale via a special dividend? What is outlook for 2020 sales post Covid reopening? What's the current status of debt, with cash Friday 24 April 2020 £142m.? That's what we are waiting for. Going to be interesting....
From 30th April update: 2019 Full Year Results announcement date and AGM
Following the recent joint regulatory guidance from the FCA, the FRC and the PRA regarding reporting timeframes, SIG confirms that it will publish its 2019 Full Year Results on 28 May 2020. The Company's Annual General Meeting will be held on 30 June 2020. The Company confirms that there is no change to its guidance for underlying profit before tax for the year ended 31 December 2019 of c.£42 million*.
JPM is a weird one. Yesterday's RNS indicates they are selling shares 7.8% to 5.94% , but buying CFD's 1.19% to 2.84%. So total position in SIG hardly moved 8.99 to 8.78%. So I don't think its as simple as they want to dump their c. 9% holding. Ideas anyone?
Check out the article on SIG "SIG (SHI) looks the ultimate post-Covid recovery play" . Looks a very positive story. https://contrarianinvestor.net/posts/2020/5/4/sig-shi-looks-the-ultimate-post-covid-recovery-play
Do not forget that tech is driving the S&P 500 rebound and they have done OK post Covid and will prosper.e.g. Microsoft and Netflix and ultimately even Apple. Saying that the April rebound was excessive. May will be volatile and to the downside but the low was March 23 in my view. SIG will do well over the next few months, not necessarily next few days, but great recovery stock. "The Nasdaq 100 closed at 6,994 on March 22 and 7,813 on March 31. By Apri 30, it was trading at 9,000, a rise of 15% compared with the month before! As of May 1, it was trading at 8,718, after a 3% fall on the day. Companies like Microsoft, Amazon, Netflix were bid up. "
Liquidity - As a result of strengthened cash control measures, the Group has been able to preserve its liquidity position and, at the close of business on Friday 24 April 2020, it held cash of £142m. Guidance confirmed £42m and full results 28 may