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It's 193p now! You're never going to buy at the exact bottom.

I agree, happy investor, and have added to my holding this morning. The whole market's having a nasty wobble - time to be brave.

You call a 5% daily drop a 'mini success'? Not sure I trust your sense of smell...

Feels hard adding to equities atm, but I've topped up on today's price weakness.

Arcontech's defensive qualities are what my portfolio needs in these volatile times... and it's going cheap!

well done Dav929, you're a legend!

Exactly where I am - tempted, but I don't want to add any more into this one share.

Hopefully the price has found a floor.

I respectfully disagree - it surely won't take several sets of results to turn sentiment, perhaps one. I mean the share price has flippin' halved in 6 weeks and is far too cheap at these levels. Anyway, I want to see what the pro's (Ashworth-Lord, Mumford, Slater, et al) say and do in response to this. Mumford, for instance, added in August.

Painfully oversold this share...

Thanks for that 42trader. Some director buys at these prices would be good!

Yes, I remember the price declining after the consolidation, oogleflugal. Actually, the reason I didn't take up my offer at 12p (I was going to) was that the price went a bit below 12p a day or two before the deadline, so I bought some at 11.41p (24th September), thinking I was being clever by saving myself a little. Little did I expect the price to decline even further, to 8p in old money, as you say!

Indeed I didn't take up my offer of new shares at 12p, RoxburyHouse, so in terms of ownership of the company, I was definitely diluted, I can see that.... but in terms of 'the pound in my pocket', the value of my holding, or what it was worth to me in quid, was that not unchanged?

No problem, RoxburyHouse.

But clearly there's some controversy on this subject, I had no idea... Should we to value the rejected 33p offer at 495p (15 to 1), or at 265p (8.04 to 1)?

Thinking back to my own direct experience (I held shares then), the consolidation did not effect the value of my holding at all. The morning after I held 15 x fewer shares at a price 15 x higher, exactly as one would expect. I'm a simple fellow!

Hi Batfasted,

Thanks for posting this and, to the extent it was lifted from a RoxburyHouse post, thanks to him too (although I wish he'd referred me to his post in the first place, or deigned to explain it again).

Wow, that does make a material difference to the way I view these shares. The misapprehension has probably made me more loyal to my Saga holding than I would otherwise have been. Anyway, bulletin boards at their best - thanks again for putting me right.

No answer RoxburyHouse? You don't have to answer, but it's a bit rude. Could it be because you're wrong?

"Today, the shares are worth 23½p, even if chief executive Euan Sutherland pretends they’re 351¾p, the result of a one-for-fifteen consolidation. Other recent highlights include two years of losses totalling £362 million; forgetting to ’fess up to a private equity bid approach at 33p (495p) ...." Alistair Osborne The Times.

Confirmation that the rejected 33p offer was worth 495p, not your 265p?

I'm aware of those. What holdings do they have remaining?

Well, I don't get it. I can't see anything in these results which we weren't warned of in the update of 13th August. Today's decline is surely overdone, so I've added.
I take some comfort from the share register. Ashworth-Lord and Slater each own 15% and they are not mug investors.

I thought it was a15:1 share consolidation (and a a capital raise ), hence 33p = 495p. It may not be that simple and am happy to be corrected and learn. I've shown my calculation, please show us how you arrive at your figures. Thanks.

I'm wondering if it's more a case of the management and RDH stitching us up. It's hard to forget that they rejected a 33p a share offer to buy SAGA in September 2020. That's equivalent to £4.95 today!

That's true enough redninja - and the fact that they aren't buying now at these depressed levels suggests to me a lack of confidence in a good outcome. On most metrics though, this share is dirt cheap...

Tend to agree with you andsoforth, there's value here. Patience is normally required in these recovery situations and there are always problems on the way. Ok, right now it is supply dislocations, but I have faith both in the management and the market itself to surmount them over the coming months. There's a decent tailwind to their industry as well, so a more benign & forgiving environment for them to do their turnaround work.