Member Info for SGD27

Intriguing comments near the end : "... we'll be making a handful of acquisitions next year, as we have done over the past three years, and we will continue to develop our existing six service lines, and we also are looking forward to expanding into a seventh service line as well, which we hope to do next year if not a bit sooner ..." [my approximate transcription] So is the 'seventh service' a reference to VR & AR, or something else?

http://www.proactiveinvestors.co.uk/companies/stocktube/6114/new-fd-invaluable-to-keywords-says-chief-executive-6114.html

Well, these results were always going to be dismal, and it's an added disappointment that they're still unable to get a complete audit. Hopefully this is merely down to the previous BOD's imcompetence, rather than anything more sinister. On the positive side, it seems likely that the NAVPS of 22p is now being calculated conservatively. I also note that in the accounts they attribute no value to brands. I think the SG brand does still hold a place in the heart of Joe Public - if not Joe Investor. So on that basis I'm holding a small amount in the hope of a medium-term recovery, or even a possible takeover. (Bought a few days ago - should have waited till today!) GLA

https://www.theguardian.com/business/2016/oct/03/stamp-collecting-firm-stanley-gibbons-annual-pre-tax-loss

PML Interims are out today : http://investing.thisismoney.co.uk/news/article/id/5424092 "Conclusion As a mineral exploration company, we are operating in very difficult times. The resource sector is still extremely depressed with new finance for exploration projects in short supply. Nonetheless, we have been successful in raising (subject to shareholder approval being obtained at the General Meeting) additional capital to carry out the limited but important next stage in the delineation of the full potential of the Mt Visi target. We are confident that applying our rigorous exploration methodology has led us to the verge of a discovery and we look forward to better times ahead." Hope he's right.

http://www.lseg.com/sites/default/files/content/documents/aim/AIM_Rules_for_Companies_July16.pdf "An AIM company must publish annual audited accounts which must be sent to its shareholders without delay and in any event not later than six months after the end of the financial year to which they relate." So they have to come out this week, don't they?

http://www.investorschronicle.co.uk/2016/09/13/shares/news-and-analysis/news-tips-ocado-jd-sports-esure-more-LJLGUfVeILGM14dUc9pwvM/article.html "A spate of acquisitions helped drive sales up by more than three-quarters during the first half of the year for Keywords Studios (KWS). In particular the video games technical services provider boosted its audio capabilities with its purchase of Synthesis. However, like-for-like sales also increased 30 per cent, with the group taking advantage of cross-selling opportunities. We stick with a buy."

Virtual Reality & Augmented Reality were mentioned again in the video (~5:20 in) : "...incredibly exciting field, not only for video games but for all sorts of other applications - I'm thinking construction, medical, general corporate training and so on..." So plenty of room for expansion there. This has really been the star of my PF, and I expect to be holding for quite some time to come :-) PS Numis also appear to have moved their target SP to 475p : http://www.lse.co.uk/ShareBrokerTips.asp?shareprice=KWS&share=keywords_studio

Results looking very strong. RNS : http://investing.thisismoney.co.uk/news/article/id/5413590 and video : http://www.proactiveinvestors.co.uk/companies/stocktube/5975/keywords-studios-ahead-of-the-game-5975.html "Keywords Studios PLC (LON:KWS), the international technical services provider to the global video games industry, has delivered a strong set of half-year results, with revenues well ahead of expectations. . . ."

LSR link: http://investing.thisismoney.co.uk/news/article/id/5412740

Sorry, wrong link. http://investing.thisismoney.co.uk/news/article/id/5412740

http://investing.thisismoney.co.uk/news/article/id/5412763 6.225m @ ~33p, now holding 23%. "Following this further share purchase and the resultant wholesale changes to the shareholder register of LSR, the Board of Thalassa intends to engage with the Chairman of LSR as soon as practicable, with a view to reviewing and changing LSR's investment policy approved in July 2013." And Interim Results tomorrow. Fascinating...

http://investing.thisismoney.co.uk/news/article/id/5412763 6.225m @ ~33p, so presumably includes the 6m that showed up on Friday. Now holding 23%. "Following this further share purchase and the resultant wholesale changes to the shareholder register of LSR, the Board of Thalassa intends to engage with the Chairman of LSR as soon as practicable, with a view to reviewing and changing LSR's investment policy approved in July 2013." Reversing the sell-off??

http://moneyweek.com/if-only-youd-invested-in-keywords-studios/ Luckily I did :-)

IMO more like a pensioner trying to work out what to do with their savings - nowhere safe that gives any sort of return. So, yes, diversify, why not? LSR does look pretty safe, with property minus debt giving a NAV well above mcap. And now with a 15% holding, maybe they can lean on the LSR BOD to speed up their declared disposal plans, to release the value.

Obvious reason for the SP rise today: http://investing.thisismoney.co.uk/news/article/id/5412074 So Thalassa bought ~10.4m @ ~34.5p, but who did they get them from? No doubt imminent holdings RNSs will reveal all.

OK, in the interests of lively debate, here's why I've invested. I hadn't come across THAL before, but noticed the RNS and subsequent SP drop on Friday. So I did a quick, and admittedly superficial, analysis. My thoughts were, in no particular order : 1. The PML investment does look like a bargain. On paper the £400k is immediately 'worth' £700k. Yes, yes, I know it doesn't really work like that, but at least the PML SP didn't plummet as might have been expected (in fact there's only been one trade since!) 2. Chairman holding 15% of shares - always a good sign. But not foolproof, as I learned to great cost with Sula :( 3. NAV high relative to mcap - very Grahamite. Whether that's still true - well, we'll know later this month. 4. SP obviously impacted by the low oil price, but that won't last forever. And shares in a gold miner might even act as a bit of a hedge. 5. Results due soon, so if they were really awful, I'd have expected a profit warning before now. So my guess is they'll be OK-ish. 6. Share buybacks rather than dividends make good sense, as they avoid the dividend tax. So anyway, I'm in for ~£5k. BTW, Papua New Guinea is thousands of miles from Africa! GLA

Perhaps they'll have more to say about it with the Interim Results, due fairly soon.

https://www.antiquestradegazette.com/news/2016/five-members-of-baldwin-s-staff-leave-stanley-gibbons-group-and-join-ian-goldbarts-new-business/

Good morning, 50glass. I thought it looked like a bit of a bargain. They've clearly researched it : "We have been monitoring this company for a number of years and believe that this is an opportune time to acquire a sizable position therein." Still, you may be right, time will tell...