Member Info for Spac3y

Backscratcher. I made a very wise decisom last week and bought CRND a day or two after I forgot to/ the funniest thing is when I spun back out of it, Id lost 20 % :) Who says my timings always right lmao ! Admin seriously need to take a look at what is posted on a more regular basis, about 6months ago this was actually quite a good place to come to, however, in the last few months, across ALL the boards, anarchy and chaos seems to be rulling.....

I think youll also find that when FJP changed his stance it was well documented on here, or are we being completly selective about facts ? In a nutshell, just like shares, is someone not allowed to change their mind ? On a regular appraisal of your potfolio, it is often the case, as was shown with you dumping some or all of AST/SLV that you had changed your mind in regards to holding, so what makes it differrent from anything else in life ? Tis becoming abit tiresome all this *****ing and moaning, its no wonder people are leaving and dont want to post anything with decent breakdowns and information given the last few months of whats been happening.

would appear that no matter what Norby, your never going to be happy. You ask for something, you get it, you then disbeleive it....I think the last couple of posts show more about yourself than anyone else. Theirs an old saying, People in glass houses...........

car sector right now is taking a hammering. From several calls today, PDG are sufferring abit due to higher than normal stocking levels trying to sell some large amounts of used cars in september. Now into the last quarter of the year, right now, the dealer groups are starting to reduce stock holdings to shore the balance sheets up for year end. Roll in the fact that some manufacturer`s arent getting the "desired" new car sales they were expecting, will prove an interesting finish to the year for PDG. Looking out, I still expect in the range of 15-20m bottom line, however this may be reduced if PDG dont manage to get a reasonable handle on current ageing stock , trade losses and thus a reduction in used car margin. December traditionally also is not a good time for PDG`s SP, take a look back over the last 20 years at PDG`s SP, I think youll see an interesting similarity in December.

I dont think anyone could forseably have seen the 45p mark, although some did hedge very effectivley against the price drop. Their was a little bounce here yesterday, however Im still wondering where this levels off. Will it drop again today back to 45p and possibly even , yes, I know, down to 40p. When we originally started buying in here some months back, 45p was the going price. If you consider the development since june in SLV, its quite a buying opportunity at this level for some people. Equally, should people have funds, it offers a very similar averaging down exercise just like AST did after the duster, and Im sure well agree those that had the nerve having done the leg work have done not to badly out of that one. My primary reason for selling was I beleived my capital was dead for a certain length of time until the deal was finalised, it also helped that I was able to spin out for a very decent return, some couldnt quite get the same return as they were later in buying in. So, looking out of the intraday mentality, easily still £1.24 term target and moving forward, well, considerably more. And I dont always get it right, I rebought some tomato stock last Friday and sold out on Wednesday for a reasonable 10%, however had I waited another day, that would have been 30%. Things always go up and down when your not in them, Im sure everyone would like some Vary-Hindsight-Focals from specsavers, but thats the nature of the business :)

actually, your post "I don't see why it would rise at the moment since the rise from 50p was speculative because of the takeover" isnt actually correct. The takeover added only around 10% on to where it was price wise before the T/O was mentioned. The reason this rose was down to steelport coming on line and potentially doubling the PGM, that and SLV had also returned to profit a full quarter ahead of expectations. I originally bought in at 46p and got out in the 70s, the capital was dead whilist waiting for the merger to proceed or not. I think its highly possible we will see that 46p again, I am looking to buy back in once more, however until she steadys out Im just going to sit on my hands. It may find support with some of the funds at this level, so Ill sit and watch over the next week or two. SLV now need to look at where they get the use of Furnaces from, whether its Rukki, or someone else. The company hasnt changed really at all from I looked at it originally, so I will just sit, watch and wait.

Being as you work for the dragon, and you work on the prestige side, whats your take on U.C.M. I can understand it completly for the volume side of the business, however, I dont know of many people who buy porche, ferrari, aston etc that are really to bothered about being the lowest price in a radius. How do you find UCM ? Has it raised stock turn, ppu, volume ? Has service quality lessoned ? Cheers

Id have to disagree with most of your points, as for once, Id have to disagree with your take PB on PDG. Their may be a tank in the market in general, but at the current price, and abit below, I beleive PDG fairly resilient. So lets take a look. As your in the trade Swist, you would already know that last quarter of the year, dealer groups like PDG look to bolster the balance sheet. PDG is no differrent from any other motor group, all motor groups look to reduce stock holdings in line with firming the balance sheet up for year end results. Interms of being told NOT to hit manufacturer objectives for the last quarter, seriously ? So lets discard one quarter of the years results....not quite likely. Given the Half year incentives on offer, given the HUGE amount of money available, theirs more chance of seeing a blue moon than for PDG top brass saying "last quarter incentives, nah, dont hit them"..... Interms of pre-reg`s, PDG have shied away from pre reging this year from what Im told, with vehicles being put through fleet, theirs a big differrence between them ! PDG I anticpate for the year should deliver in the region of 15-18m bottom line, potentially 2010 you could be looking at 30mill+. It is interesting to note from conversations however that some of the manufacturers may have been at the pub when deciding on last quarter objectives, and have had to issue some "carrots" and reductions on the numbers....

were being conservative, and in a factoring mood, theirs no reason that TSW shouldnt be trading in the 60-70p range. Even being ultra cautious on NAV, and the marketplace, even factoring in a 10% market cap reduction on current valuation, 68p seems to me a very reasonable target to be aiming for. Financing due within 12months is aroudn the £47m mark, will it be financed, Id imagine it will. What will the cost be of the finance, probably looking at £2.5m a year in interest costs with a million or two in setup fees. If you look longer term on the financing, some £107.6m due, probably looking in the region of £7m a year interest and again a couple of million in setup costs. Given the steps taken on reduction of headcount, also given the margin being traded on year on year has gone from 7+% to a negative 2.63%, the head count reduction and some luck, yes luck lol, should hopefully swing TSW bottome line back into the positive. With the conservative NAV pricing , or my conservative NAV pricing, TSW should be able to turn back into a modest profit with a decent safety net behind it.

what are we looking at....15mill for the full year bottom line ? Decent Q3 helped by scrappage, extension on the government scheme by 100mill coupled with 6months plus on the age of the car..... Q4 should be a BIG BIG quarter for PDG, I would imagine that theirs a hell of a lot of money up for grabs in H2 for year end manufacturer performance bonuses, coupled with inch being upgraded to a buy, coupled with panmure (god I hate anal-ysts) "upgrades" upgrade, should prove an interesting proposition. One things for sure, no room for any slack. All dealerships MUST hit Q4 and H2 performance, if done, then Id imagine PDG will outperform slightly the analysts numbers......

I tried accounts once, problem was, every time I counted my fingers they came to 11, I figured it must have been one of them was an intangible figure....... :) Plenty of safety net in the balance sheet, I should point out Sundancer that FJP brought something to my attention the other day in reference to TSW in relation to the goodyear purchase that may have a potential "scare-blip" on the SP before people realise how much the cost is. It potentially does have a cost, but , whilist some may see it as a material balance, in the grand scale of things its potentially would be just a short term kick. Longer term, TSW appear well placed, Im still running some other numbers atm, but I expect the reduction in headcount to go quite abit into getting TSW back on track and into making some money again.

HGAC, why do you think most businesses have accountants ? Its more often than not because their owners are such dullards, that they dont have the capacity to tie their own shoe laces, never mind anything else. For that matter, why does any company need anyone ? Its like recruitment specialists, why do people need them ? :) I dont actually know too many poor accountants, and as Im sure you will know, every business needs one, so employment is always fruitfull !

Ah, you do have some sense of humour afterall ! I do note however you refferring to you dealings with nasty individuals, care to point them out as I dislike them also ? Played, plaid, play-ed, take your pick, thats why I wasnt an english teacher ! Unfortunately, fortunately, or -e I wont be available allday due to work committments, or comitments, or com it ments, or...... I guess well find out exactly where the value lies in VERO on news, mabye I sold to early at 23 odd, mabye I didnt, but I note , as Ive popped up here today, so have the usual "crowd" As Im of to bed (you will be pleased), once again, OT, thanks for the heads up on friday , gain here was appreciated, and for the velo holders, the thought should be their for between 20-25p. Happy hunting !

Unfortunatly, I have to keep the unemployment benefit rolling in for the government, so unfortunatly, due to the internet police at my work, I cant post the usuall *******s during the day at work. If you see a perfectly valid opinion as talkign down to somoeone, I think you may need to re-evalute. However, sadly, I dont feel thats going to happen. FJP made the point perfectly on EBITDA , I explained the nature of share premium account, so Im still at a loss to see "what was being talked down to" ? As always, Im sure this will be one of those back and forths..... With that in mind, well done to all those who have done well today. Played perfectly well, so big pat on the back. That do you ? :)

always drawn to remarks that state smugness. I havent actually read any of that into here today, so perhaps you are a better board reader than I. i think youll find people dont always need to shout exceptionally loud, Im sure their was a saying on that somewhere :) i actually do agree with you, interms of this sort of sector, it is not one I do generally favour, However the books are sound showed clearly that company value is around 20p (Although Im sure you already knew that) :) As previously stated, Old Tramp was the one that put this my way to look at, theirs no glory taking here, if it wasnt for OT, Id never have seen this, credit where its due and and as far as Im concerned, the gain in here made was down to OT bringing it to attention. Are we clear on that as Im not so busy to debate it :)

Smug remarks ? Please elaborate. At 13p, given the books, their was the opportunity to 20p without question. However, Im trying to see beyond 20p, so Id be happy as always too see where the value lies. Given the offer on the table, whatever it is, it hasnt happened today, so I dont think "upto" 25p is far off the mark. I would however ask that those looking, and given current shares in circa, and the difficulty in buying here, that their is quite a chance for those looking for a quick buck to be caught out. Conversly, the shares in circa adds to VERO`s value, a hell of a lot easier to push a price up with so little shares avaiable than the usual 1 zillion shares in circ. I will be interested to see the play tommorrow, will it follow the usual high gainer on day one, follwed by the 20-40% rise in the morning to fall back. I guess we shall find out !

Your certainly goign to be happy then. I imagine an offer in the region of 20-25p. I wouldnt worry to much if in the position your in. :)

can I ask why you bought certificated ? Do you normally buy certificated ? Sometimes you need a quick turn around, again, I really wasnt expecting quick turnaround here in 3 days, but it might be something to think over for future purchases, unless ofcourse your holding longterm. Theirs no news on the actual bid itself right now, paper, cash or both so I imagine youll be fine POST1X. Hope it all pans out for you here.

lol. Not often , or frankly ever I get one up on you, so Ill take it, with most of the plaudits at OT`s door for the heads up on Friday night. Personally, as long as people didnt buy in at 25p, they should still see a 10% gain, hopefully, if in at 23p persey. Would like to say I was anticipating the bid, was I *@ck ! However, the upside from 13p to 20p was very reasonable given the foundations of the company. Septembers shaping up to be a fruitfull month for those that have their wits about them :)

the share premium account in the balance sheet, isnt like a rainy day account which you can release to P&L. Its most commonly used for expensing the associated costs of new share issues as opposed to expensing it and taking a P&L hit. It can however also be used to expense bonus entitlement for the board (lol). In a nutshell, its part and parcel of the balance sheet, and will be taken into account, alongside the outstanding debt in the offer currently being considered.