Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Stanley Gibbons - take up open offer, we are

By Tom Winnifrith & Steve Moore

15 March 2016 08:30

More:

Stanley Gibbons (SGI) “is pleased to announce that it now proposes to raise £13.0 million (£12.3 million net of expenses)”. It shouldn’t be.

Already a member? Sign in

• All premium articles

• Tom Winnifrith’s Bearcast

• Access to all the entire nearly 13 year archive

• ShareProphets Daily Newsletter

Cancel any time

This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

Comments

philip baker

15 March 2016, 09:51

Can i get in on the placing at 10p without being a shareholder. I could also put myself forward for the position of chairman, on a much lower salary than the previous incumbent. Really enjoyed my 2 years working for Stanley Gibbons in the early90s.
Duck and Dive

15 March 2016, 10:47

You must be desperate. There are more red flags here than in Zhongnanhai.
wildrides

15 March 2016, 13:34

Blimey ……….dont listen readers ………… its going to zero . No one collects stamps anymore . The hobby is more endangered than Rhinos in China .
Listen to what Paul Scott said yesterday if you wont listen to me:-

“SGI has been such a well-publicised train wreck, that there’s really no excuse for PIs holding this share, other than obstinacy, or sheer stupidity “

Take up trainspotting like me ………… its free , fun and you meet the nicest people on Bristol Temple Meads ( if you keep out of the public loo ) You can swap anecdotes on “Westerns and Warships” and massive Maybach Diesel powered Icons . better than losing all ya money on a firm that sell snail mail lick spittle tabs.
haussebaisse

15 March 2016, 16:36

“Martin Bralsford has indicated that he wishes to step down from the board and will do so after completion of the fundraising as soon as a suitable new Chairman has been identified”

Typical.. He wants the satisfaction of going before he is pushed. How about an apology instead for all those “toned down” RNS announcement the last year or so? From this placing document we now know what this management and board REALLY knew all along but failed to tell us in the same language as this placing memo now does. Sickening arrogance from the management.

None of SGI’s long term – real – problems will be solved by this resuscitation placing. It will only replace overdrafts, pay placing fees and leave some leftover change for the rest of the year.

I can’t understand what wrong with Shareprophets either who must be under a spell here. Just as wishy-washy and superficial about SGI as an average RNS from insiders in an AIM-quoted company. “For what it is worth, we will be taking up the open offer”… That is written by a lost soul. No pride left. I’m disappointed.
shares321

16 March 2016, 07:52

It was nice to see Richard Griffiths come on board to SGI. He has a good history of spotting and then turning failing companies around. It usually takes at least 5 years and there is a lot of work needed to be done to fix stanley gibbons. Griffiths has stabilised and fixed/fixing Nanoco, Oxford Pharmascience Group and Blinkx for example. I think it could be possible to make money at 10p as the placing should stabilise the companies debt position in the short term and allow time for the long term plan to be implemented. However, I have feeling the balance sheet strength in tangible assets will have to be written down abit as it may not be possible sell the more expensive stamps at the price they are booked at.