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As I mentioned on Kingspan's results ( price up and up again today ) there is the strong possibility of a read across for Sig both for the new year start post results period and the outlook.
"2021 has started well, helped by strong backlogs at the turn of the year."
and
"The climate action agenda continues to gather pace globally. With energy from buildings accounting for roughly 40% of all emissions, a more thermally efficient building envelope will be vital in curtailing global temperature rises. Insulation will be central to this effort."
And as far as I know, it's focus is on trade customers.
"It has stong positions in its core markets on insulation and interiors, and roofing and exteriors. SIG is focused on specialist distribution and merchanting of products for business customers across the construction industry."
CD&R Investment, the Firm Placing and Placing and Open Offer and the Directors and Senior Management Subscription are conditional upon, among other things, the approval of SIG's Shareholders at a general meeting of the Company which will take place at 11 a.m. on 9 July 2020 (the "General Meeting").
I am not sure on my theory either, hence the?
My understanding is it was effectively put to shareholders, including proxy votes, ( a "Covid" General meeting ) on 9th July, following circular.
"The passing of Resolutions 1, 2, 3 and 4 will enable the Company to proceed with the Capital Raise. "
Now this is only a short story. Sig needed support. Francis had come in in February, looking around. Maybe CD and R too, as they always will be, but must have been doing due diligence on this round about then. They talk. ( he must be their man anyway? ) In the end they came up with what they did, supported by the then largest shareholder IKO., at a time when the price was teens, 20s - shaky anyway. Francis told shareholders if the CD and R proposition was not accepted, outright acquisition was one of the options. Perhaps CD and R wanted the whole thing, but at 50p. And IKO may have said, no good to me. I been supporting this for yonks, and I need 60p and a fair bit more to make it worth my while before that can work for me. And you're looking to do alright. You believe you can turn this around. So do I - it's all there, just need some cash in the bank, better management, and a bit of tarting up. And when Covid starts getting sorted, and construction takes off proper - we know what's going to happen there, helping the economy and all that - things'll improve no end. So I think it's fair to say I need at least my money back, and that's very much bottom line mind, and if you want to do just under 30% I'll support it. But no games. None of this buying 30% and then being 'forced' into a low bid. I need a bit of reassurance on that. And so will other shareholders - they're in this up to their eyeballs too. So Francis says OK, he'll write all that into a relationship agreement, with other stuff addressing their (joint ) concerns. ( board membership, maybe something on the circumstances under which a a bid may be made by CD and R, whatever else, as per my previous post )
And in the end, if not ecstatic, they were all happy, content that each would do OK, no one was going to have anybody else over, and had tea and Jaffa cakes. And C D and R got a big bill from Clifford Chance for helping. But they didn't worry, it was just a drop in the ocean.
https://www.belfasttelegraph.co.uk/news/republic-of-ireland/no-guarantees-that-construction-will-resume-on-april-5-housing-minister-40162952.html
But then big regeneration planned.
CLC to push for national retrofit strategy after Budget silence
By Tom Lowe5 March 2021
london housing
Chancellor’s failure to promote green homes initiatives prompts group to demand action ahead of UN climate change conference
The government is coming under increasing pressure to adopt a national retrofit strategy after the initiative was left out of Wednesday’s Budget.
The Construction Leadership Council (CLC) intends to make a “much wider noise” about the initiative ahead of the United Nations climate change conference (COP26) in Glasgow in November if the government has still not adopted the scheme.
…
You mean Nat Cole? Just a response to yours fearful of the Dow spoiling the FTSE All-share party.
I have not read back. I do not know why there were not many comments about what you posted. That is for others on here. But, for the record, I think the more of it the better.
I blame Nat King Cole ( indisposed ) and a couple others. Plainly the party is nowhere near over. Sort of ice cream and jelly time now until results, which in my view will show us the way regardless of other things for Sig.
At the moment, could change, saying what I see, preponderance of those that matter content to buy, at this level,and I guess hold for results - trading does not seem a great option to me.
Hoping for the Hokey Cokey, but in the absence of investors seeing the results as encouraging, or just deciding to take their profit, ready to buy more if that is what seems to be sensible. ( though frankly, that would be temporary - I really do not 'need' more )
Well, Prof reckons they might 'grab' them. Don't know if they'll want to keep them or not. Now, that sounds pretty final, unless there's an offer on, in which case it'll be limited while stocks last. March only, existing customers. Prof will know. Yoohoo Prof!
Eu Green Transition Fund, formally approved yesterday. Snippet of an example.
"To achieve EU climate goals, Poland will need to increase annual investments by an average of 13 billion euros, targeting electric vehicles and upgrades to buildings and energy infrastructure, according to consultancy McKinsey.
Poland's share of the JTF is roughly 3.5 billion euros. That will be bolstered by other parts of the EU budget and 750 billion euro COVID-19 fund, more than a third of which must be spent on climate action."
Indicators good. If shortages and resulting delay to works foreseen, majors will I believe look to stockpile.
https://uk.finance.yahoo.com/news/uk-construction-pmi-ihs-markit-february-094026260.html
And this will all come down the tubes, anyway.
https://www.socialhousing.co.uk/news/has-approach-lenders-for-retrofit-carve-outs-69846
HAs are beginning to scope out the cost of decarbonising their stock by 2050, with a range of estimates on the potential costs of doing so. Consultancy Savills has estimated that £3.5bn will need to be invested annually by the sector. Meanwhile in Wales, one estimate places the total cost of decarbonising the sector’s current stock at £4.8bn.
There is retrofitting going on anyway, leading to an 'extra' market, which may be of benefit to Sig. This sort of thing.
https://www.constructionenquirer.com/2021/03/04/vistry-sets-aside-20-9m-for-cladding-retrofits/