Member Info for ringworm

not wanting to be seen as a deramper etc but http://www.stanleygibbonsplc.com/wp-content/uploads/dlm_uploads/SGGroup-Accounts-to-31-Mar-16.pdf ALL of the previous board have been removed, the major shareholding has been transferred to Lombard who have 1 director appointed. The special case here seems to be protective receivership, where as we have seen assets are being sold off to reduce debt and interest charges, the restructuring is to make the group viable as a going concern, and ultimately to find a buyer. If that fails - which it probably wont with the financial muscle behind the restructuring board - then ultimately the group will be broken up and sold piece by piece to the highest bidder. It would seem that enough has been done - including the £47 million asset markdown - for the group to continue as a going concern, and even become profitable again in the short term. The biggest risk would appear to be the buy back guarantee on previously sold "Investments" - and these are buy back at purchase price. Toscafund are still mopping up spare shares at 9p so I would speculate that they are interested at that price. We await results to see if we can get a few pence more from Toscafund or Disruptive - or they may take it on together. I believe that their remaining net assets still exceed the market cap, so its still worthwhile. I expect we will see results before the 13th Sept when they are at the show in London.

I think that disruptive indicated 13p, but if price stays pinned at 9p for a while it may just be 11 - 11.5p as there is no action or firm holding here above 10p Indicated assets are about £40 million, half of that in stock at 25% of book value which indicates £25 million value x 0.75 = £19.5 million against mcap of £15 million - their property may be undervalued at £6 million, but either way there is a 30% "safe" sp growth margin. Either way without seeing final results for year 2016-2017 we cannot do a more accurate assessment. We generally value stamps at 16% of SG book price, 5% for used, but their collection of rare items is significantly more. Either way their publishing is world renowned and a household name which in itself has some value. At the end of the day it may be a stamp collector or dealer who buys SG as the share price is below retail for the stock, and £15 million is pocket money to some.

appear to be buying *everything* every day at 9p just mopping up all the small investors selling their tiny stakes. I am keeping mine till takeover time ...

as a buying opportunity but spread is too big for short term profit, but one for holding a few months I think.

again . but its making Telit a household name and attracting the interest of predators ... once again I took the money .. maybe too soon again ...

well if you had £17.5k in here then that was a wise decision, but my few hundred pounds will not send me into despair or alchoholism, but it might buy a nice bottle of single malt - or not as the case may be ..

pre scandal price 3.60 History of paying dividends leads to overvalue by 30% at 3.60 so value 2.70 Loss caused by aquisition to enhance portfolio and product range, but needing investment so derate by 10% from 2.70 to 2.43 Director scandal derate by 20% of 2.43 so which is 0.48 so value now 1.95 Supplier to Tesla - so +++ anything below 1.75 is a bargain. I did 11 mins research ..

() _ ||-.,.,.,.,,.,.,...-'" ; || _ _ | || _( ) ( )_ | || (_ \ /\\//\ / ._) | || '\ ( )( ) / | || \\//\\// | || .))((. | || _/ |||| \_ | || (' /""""\ ') | || "(_) (_)" | ||-.,.,.,.,.,.,.,.,..-' || strong buy for the next 90 secs ..

is the biggest I have ever seen ... opening in 8 mins .. think I need some rum in my coffee this morning ...

The late reporting shows two purchases of approx £800K which would suggest that a large corporate has been instructing traders on the floor directly. I would speculate that in view of the current circumstances that a takeover is on the cards, and that this corporate is building its stake at cheap prices. They have till end of business next working day (Monday) to declare .. possibly RBS will put a new CEO in place and sort the business out.

because a buying opportunity presents itself here.

In Out In Out and shake it all about In for the third time this week .. This time I think its for a longer ride ... I just cannot help taking the profits tho ..

The difficulty here with this business is that though the product is good, and there could be a good global demand, the units have to be shipped to their site, hooked up with services, looked after for the duration, then removed to storage till next time. What they need is a strategy to build more volume, and deploy longer term, or fit and sell. Good examples would be for emergency accommodation following earthquakes - maybe a years deployment or more, Edinburgh Festival - its 3 weeks or more, and there are sites available, refugee camps - who will pay ? I think its a great idea . but ...

I think I might need my calculator here .. Assets on book 28.5 million x 75% = £21 Million realisable Market Cap 28 million (thats us ..) Profits 0.2 million It's not an easy business, and doing so well not to have folded in the face of so many witheredspoons and muckdonuts. A song from Saturday night fever pops into my head - Staying Alive .... Its not one I would use, and not the way the market is going.

fun fun fun fun fun but the most wonderful thing about tiggers is .. - put out another negative RNS and shake that tree baby ... Catz doesnt need his job - he owns lots of cheap shares - you can be sure when the price drops far enough he will also fill his boots (again) ..

Is that the shorts burning for £4.2 Million as 2 late sells yesterday ? Its so nice for them that they had the money to burn ...

Fat catz loaded up after making sure he had the cash ready before making announcements ... I think I sliced too early, but a profit is a profit .. so what else is out there this week ??

and rising again this morning .. offer 161 to sell now ..

http://www.proactiveinvestors.co.uk/companies/news/172556/telit-making-the-right-connections-172556.html With 40% gross margins, and good cashflow, a period of consolidation follows significant investment in recent aquisitions.

http://www.proactiveinvestors.co.uk/companies/news/182051/telit-communications-remains-confident-of-strong-first-half-even-as-delays-slow-revenue-growth-182051.html