The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
1.9m million shares sold. Someone decided to exit.
assess not access!!
This is proving to be a difficult one to access. I had thought that the sale of Dimensions and the medium term agreement with the bank would drive the price up by 50% or so. This has not happenned. One investor says that the results on the 29th will be decisive and that positive news there will be the main trigger for an upswing. At the moment the price means nothing as a few sellers needing cash can drive it down very easily, as was the cae this moring. The fact that three institutions have bought recently and now hold stakes above 3% is a good sign. In the longer term, if management play it right, and get the price up enough to get the rights issue off, then it will go above £1, easily.
At this stage I'm pretty much resigned to long term, at least a year. £1 should be possible within the year, I would say. After the move to AIM it would be good to see some analysts figures on where this could go. Yes I'm down by more than 50%. Would you consider investing more at this point? It could be the way to play this now that the banking aspect has been resolved for the medium term. Apparently the the change form one exchange to the other will mean that some investors and funds will have to sell as thier funds are restricted to the main exchange, this may explain the not so enthusiastic response to the news that was released on Friday
Now that they have some breathing space, they may be in a better position to get a better deal if they decided to go that way and to realise the full value, or near full value of Apparelmaster. Maybe just wishful thinking on my befalf as I never intended staying in this stock anyway. Hopefully it will start to pick up now that the banks have been sorted. It should move up slowly, as you say, between now and the EGMs and take a good lift once the deal is done.
Frog, What's the latest on Apparelmaster? Is JSG still likely sell it?
That was one very disappointing day. With new finance in place, debt reduced and a clear breathing space created, the share price should have moved up. Why not? Any takers?
Is apparelmaster still on the block?
What will JSG close at today?
Frog you seem to have a good line on what's happenning here. What to you reckon? This seems a like positve development to me. T wo questions arise, What is medium term? 3 years? And did they get enough for the sale of the Corporate wear division?
Frog, what do you reckon on this sale. If it happens where would the share price end up? I thought that Apparelmaster was worth more like £160m....getting rid of £70m of debt is a good thing, but will it shift the share price or just plackate the banks for now?
Bear Stearns have crosse the 3% treshold and now hold 3.05% of JSG. I don't know what percentage they held before, but this is the third institution to increase thier stake in recent weeks. Very promising as that kind of buying can lead to a takover. If you know what thier percentage was before this, please post it here. Thanks
Izzy where did you get this info? Is there a website that shows a breakdown of the institutional shareholders? Henderson increased thier holding to 7.19%, is it possible to find out what % they held before that. I think that these outfits increasing thier shareholdings is a very good sign.
Henderson have incresed there holding from somewhere below 7% to 7.19% and it happened last week, so today's rise is due to some one else getting a slice.
CCM sold for £2.6m was values at £2.7M at dec 06. Well at least they have managed a sale before the April 31st deadline. What will this do for the share price?
Yes agreed. If CCM and the retail stuff were sold off along with some of the other small operations like Alex Reid, then debth would be about £70m which should be manageable. In my view management should bite the bullet and sell even if they do not get top price, as the credit crunch is not going to let up anytime soon.
I first heard of the CCM deal in Jan, and at that point it was supposed to be a done deal. So that fits. This share can turn around big time if they can get the debt down with the sale of one big unit(bigger than CCM). IF they can offload the high street stuff then they can wipe out thier debt completely. My reckoning is that it will come back up to £1.20+ if they can do so.
Likewise I've heard the CCM rumour. Interesting to hear that the High street stuff may be on the block as well. How advanced do you think these deals are?