Member Info for sheffieldowls

Rich 62

I was amazed this afternoon that there was a big seller of these shares so I stepped in and purchased over 156,000 shares. I cannot understand why any institution would want to be unloading Ramsdens shares at below 210p a share. I spoke at length last week with Peter Kenyon because my dividend arrived in the post ten days late. He is speaking to the registrar with a view to holders of the shares in Crest receiving the dividends electronically rather than relying on the post to receive them on time. Peter is very shareholder friendly by the way as he has answered a number of my E mails since I became a shareholder a couple of years ago.

Rich62

Sadly that somebody is only me as I recognise that the price is a steal at these levels so I could not resist increasing my holding. I would have preferred to have paid just two pounds a share as Karen paid last week but as you know the price has moved up this week.

100% correct LunaNera my thoughts exactly.

Same here Mulder.

An interesting read thank you.

I agree the dividend is very important but perhaps it would be acceptable not to match last years payout when we consider the present yield with the share price so low. In my humble opinion at sometime in the future it will be understood that its nonsense to consider that it is beneficial to have everybody driving electric cars. It is not green because of mining all the elements needed for the batteries and the disposal of the batteries is problematic. We are unlikely to have sufficient generating capacity to charge a vast number of electric cars at anytime in the near future. I have been advised that we don't have the capacity to supply sufficient electricity to all the required charging points. which we are not going to have anyway. I mention all of this as I expect that Sylvania Platinum to have a bright future by supplying items needed in ICE vehicles for many years to come.

The company announced on May 2nd that they had ten million dollars available to buy back shares for cancellation and the buy backs must be completed by September 7th or earlier if the ten million dollars had been spent. I agree that they are trying to purchase the shares for cancellation at as lower price as possible. What surprises me is that it would appear that they don't consider the current share price to be low enough to buy back shares so it appears to me that they don't agree with the share price that several financial organisations have suggested as fair value.

I find it concerning that the company appears not to consider it an attractive proposition to buy back shares for cancellation at below seventy pence a share. Several financial organisations rate the shares as worth in the region of 110p-120p it appears to me that the company and its broker don't agree with that valuation because surely if they did they would be buying back the shares at the current depressed level.

Bangrak

Where have you seen the reduced price target of 110p from Liberum Capital please may I ask you?

Wildtiger

I do hope that you are wrong as I have a very significant shareholding in this company. However the companies refusal to buy back more shares may indicate that you are accurate with your forecast. Surely it wont go as low as the 40's as they have that amount in cash.

I believe it would be fair to say that the company and its broker knows more about the business than any of us posting on this board. Having said that I find it disconcerting that the company appears to have suspended its buy back operation with the last purchases being made on July 2nd. I was hopeful that with the price falling below 70 pence yesterday that the buy backs would have restarted but that was not the case. It looks likely to me that the company and its broker believes that in the coming weeks that the price will fall further so they are holding off buying back more shares in the company. Perhaps the company sees the future as so bleak that the announcement on July 14th about cancelling shares that were held in treasury may be considered as the end of the current buy back operation.

Bangrak

Thank you for your thought provoking posting. I note that Liberum the company broker still maintain that the company should be valued at 170 pence a share. Surely they need to amend that figure in view of recent events and their refusal in recent days to purchase shares for cancellation on behalf of the company at over seventy pence a share. Their refusal is hardly a vote of confidence in the future share price of the company.

I have been corrected by a friend that the share buy back has a limit of ten million dollars and not pounds. Sorry for my error regarding this matter.

LunaNera

If my calculations are correct the company has bought back just 3624275 shares for cancellation while about thirteen million shares could be purchased for cancellation at current prices under the present buy back scheme. I have to wonder why they have not purchased more shares for cancellation in the last week or two with the price of the shares being at such a depressed level. After in recent weeks talking to people who have more knowledge than myself about the supply of electricity etc I just don't see that in a few years time that nearly everybody will be driving an electric car. In my humble opinion it isn't going to happen. I agree with you LunaNera about the way forward being improved catalytic converters on all existing CBEs....

It is clear to me at present that the company will only buy back their shares if that can be achieved at a price below eighty pence a share. For the share buy backs at this time last year they only bought back shares if it could be achieved at below ninety pence a share.On the days that the share price was over ninety pence no buy backs were achieved. The question I am asking myself is if the company will buy back shares at over eighty pence a share if it seems likely that they would be unable to buy back ten million pounds of shares for cancellation by September 7th.

It looks likely to me the company are buying back some shares today and at a price below 80p a share I consider that this is good business for the company and the shareholders.

Loggylogbot Thanks for your posting. I am aware that there were a number of stipulations in the RNS regarding the Share Buy Back but I can see no reason for them to have failed to buy back any shares. If my memory is correct the average price paid for the shares in last years buy back was around 85pence yet they are now not even prepared to pay just above eighty pence for the shares. I make the dividend closer to 13% but in any event its a massive amount is it not.

I find it amazing and concerning that one month after announcing that the company intend to buy back shares that they have failed to take up the opportunity to purchase shares in the market even though they could have paid a price in the low eighties. I can only presume that the company and its broker expects that the price has further to fall which is not good news at all for shareholders.

I am concerned that despite having the opportunity on several days to buy back shares at below ninety pence a share the company has not done so which makes me wonder if the company expects the share price to fall further over the next few weeks.

I agree with toptiger I also would expect them to issue a daily RNS re this matter. It would surprise me if they paid more than one pound a share but this is a guess of course.