Stanley Gibbons London share price tumbles ............

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

ViccyVFU wrote:
24 Sep 2021 01:57

So the authority to allot, together with the dis-application of pre-emption rights can be taken together.

Basically, they can issue shares without the need to offer them to existing shareholders first, thereby changing the makeup of the controlling percentages.

Again, it might be "because they feel there is no appetite amongst existing shareholders to stump up more money", but its also a way "to dilute existing shareholders remaining interests further".

You will note that all the resolutions, whilst giving the impression of being timebound, are in fact permanent decisions (that can be exercised after voters thought they might expire). Written in such legalese to confuse rank and file, sections 8(e), 9(c) and 10(b) are technically an ongoing mandate (if planned that way).

70% is not significant in UK company law.... You need 50% +1 vote to secure an ordinary resolution,
and 75% to secure a special resolution.

Now, IF SG bought back (and cancelled) 64 million (non Phoenix) shares, and dis-applied pre-emption rights on a new issue of 142 million shares, (all in favour of Phoenix), then Phoenix would hold (248 + 142 =) 390 million shares, of the (427 - 64 + 142 =) 505 million shares in issue.

... and that's 77.2%, which means they can force everyone else out of the trough.
(Through buyout of minority interests)


All speculation, of course, but as I noted ... "Hmmmm"

(None of this should be regarded as anything other than "speculation, for entertainment purposes".
As philatourist (I think) said : "Stock up on popcorn / light snacks, and sit back to enjoy" :D)


Well explained, and to mop up shares on market to take them to over 75% ownership is a few million quid - peanuts to Phoenix given their mega exposure now, if it gives them essentially a free hand going forward to make special resolutions of ANY kind that can vote in.

Very interesting indeed.
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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »

Finchley Chris wrote:
03 Sep 2021 01:28
I see that Anthony Gee is stepping down as Chief Financial Officer. It will be interesting to see who replaces him.

https://www.londonstockexchange.com/news-article/SGI/directorate-change/15118035

"The Company announces that Anthony Gee, Chief Finance Officer of the Company, will be stepping down from his position on the Board with effect from 30 November 2021.

Mr Gee will be moving to a more operationally focused role within the Group. The Board has commenced a formal process of appointing a replacement, and will update shareholders once an appointment has been made.

Harry Wilson, Non-Executive Chairman said:

"The Board would like to thank Anthony for his contribution over the last two years and wish him well for the future." "

Well, there was no update at the AGM, which means Gee will step down four days (or so) after announcing SG's half year figures (on around 26th November). I hope he's got a thesaurus of "lesser used accounting euphamisms" handy, because Wilson and Shircore have already used "this years allowance of empty management phrases" (such as "we came out of lockdown much stronger than our competition" :D ).

I noticed we've seen some small punts on the shares - someone bought £5k's worth on Friday, presumably thinking that there may be short profits to be made if SG pursue the buy-back program, or maybe its SG themselves pursuing their masterplan with renewed mandate. (Its also a very cheap way to get media exposure, to reinforce their lacklustre announcement about Castlenau).

Either way, should it not now be Gary Channing "signing the back of the BG stamp"? (As he told the journos that it was "his money that bought it?).

Yesterday, shares were up, to 3.05pence each, giving a whole company value of just over £13M.

Four days left in this trading half year - I wonder if they'll revert to a market barrow, and sales patter, at Stampex, because their last two mailshots to me have been "appalling".

I mean, who sends an email "highlighting their 2020 part 1 catalogue", on the day they should be shipping their 2021 offering, for exactly the same cover price?

"You know who".



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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

ViccyVFU wrote:
26 Sep 2021 01:28
Either way, should it not now be Gary Channon "signing the back of the BG stamp"? (As he told the journos that it was "his money that bought it?).
:lol: :lol:

https://www.phoenixassetmanagement.com/about-us/our-team/

Phoenix team.png

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

mikyh wrote:
24 Sep 2021 02:53
New trust Castelnau from two of Britain's most innovative investors aims to add pizzazz and boost famous names including Hornby and Stanley Gibbons

https://www.thisismoney.co.uk/money/markets/article-10017913 ... names.html

The Castelnau project looks risky. Previous efforts to turn around Gibbons and Hornby have failed. But with Wood and Channon in the Fat Controller’s cabin, investors won’t be steaming into the unknown.


In case anyone is wondering what is "in" Castelnau, or what it is:
castelnau.png

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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »

MJ's pet wrote:
27 Sep 2021 18:03


In case anyone is wondering what is "in" Castelnau, or what it is:


"For those unable to read the bottom row, at the opticians" .... :D

c1.jpg
c2.jpg
c3.jpg
c4.jpg


These screenshots are selected extracts from the offer document, and are NOT VALID in certain jurisdictions.
Anyone who is intending to pursue an investment option "should rely on their own full prospectus",
and NOT these extracts "out of context".

(Certainly explains the recent move of "registered offices" in the Channel Islands).



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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

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Capturephoe.JPG


Memo to Phoenix.

Warren Buffett (and Charlie Munger) built Berkshire Hathaway into the world's leading company, on one VERY simple premise.

They bought companies they UNDERSTOOD, and that had simple and focused business models - AND good Managers. Like Coca Cola.

PHOENIX on the other hand ---- bought Gibbons! :lol: :lol: :lol:

Buffett would be rolling round the floor laughing his wisdom is held up by them. :D



Capture.JPG



To paraphrase Buffet, Coca Cola puts 2c of sugar and colouring into a gallon of water, and then sells it for 10 bucks. High Profit. Legal, sustainable, Global.

He has never sold a share and owns near 10% of Coke shares.

ONE BH share right now is $US418,000.00 - up nearly $US100,000 PER share in ONE year.


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Re: Stanley Gibbons London share price tumbles ............

Post by Allanswood »

Global Administrator wrote:
27 Sep 2021 23:40
.
Image

Just read through that and I'm convinced it was written by some AI computer program that just threw "investment performance" gobbledeegook together into a paragraph of "words". :ugeek:

Is their main premise to fulfil the meaning of their name and logo and bring business' back from the dead? :shock:

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

.
Well buying SG has not ''delivered long term outperformance', that is for sure. What a lot of hollow, 21 year old CPA lemming jargon, right out of some witch doctor, money making theoretical textbook.

More precisely, to that spotty faced Phoenix CPA - SG is a VAST, black never ending hole, into which they have p!ssed over several years, an 8 million figure in sterling - so far.

A Phoenix El Supremo who believes that ''Indian and Chinese buyers'' will save SG, is clearly equally clueless. :shock:
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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »

Allanswood wrote:
28 Sep 2021 00:05
Just read through that and I'm convinced it was written by some AI computer program that just threw "investment performance" gobbledeegook together into a paragraph of "words". :ugeek:

It is just meaningless drivel.... Hollow management phrases..... Words written to impress, but no substance ....... of the sort Shirecore and Wilson have been spouting for a few years.

If they were following the "Sage of Omahas philosophies", they would know that he thinks stamps are
"A great, great, great hobby", but also "A lousy investment".

Buffet could not cut it in the stamp world, and moved on to "something else".

Buffet rules are simple:

Rule number 1 - Never lose money
Rule number 2 - Never forget rule number 1

I guess that just goes to show : "When all is said and done, there's a lot more said, than done" :D


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Re: Stanley Gibbons London share price tumbles ............

Post by Rigs »

Global Administrator wrote:
27 Sep 2021 23:40
Image
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Interesting chart from a short term technical perspective (never mind the previous 50 years of growth :lol:).

It appears to have been in a Stage 3 holding pattern for the last few months since May (remember 'go away in May?')

Look for it to break into new highs soon as we head into a traditional 'Santa Claus' rally, or is the pause suggesting 'crash-tober' is imminent?
.

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

ViccyVFU wrote:
28 Sep 2021 01:17

Buffet rules are simple:

Rule number 1 - Never lose money
Rule number 2 - Never forget rule number 1

I guess that just goes to show : "When all is said and done, there's a lot more said, than done" :D


In general that is his philosophy I agree. Been my mantra all business life too! :lol: :lol: :lol:

However he lost a fast billion or so punting in US airlines in very recent times!

He hated them for years - then went insane buying them just before COVID hit -- OUCH!


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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

thisismoney.co.uk wrote:The valuation of the shareholdings of the companies being transferred into Castelnau is expected to be a modest £250 million.
Only 4 or 5 days ago, Castlenau was projected (according to Phoenix) to be worth £250 million. Now it is down to £123 million. :roll:

Why does one get the impression they are chucking any sort of asset they can get their hands on into the pot and boiling up these leftovers for an IPO? What do funerals have to do with wedding gifts, stamps, Hornby trains & Scalectrix cars, digital agencies data anal ytics and NFTs? :roll:

Instead of trying to package up Gibbons into some new share offering, why not concentrate on selling and auctioning stamps? :roll:

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

Capture.JPG



The whole operation there is in Tatters! :lol: :lol: :lol:

The Chief Operating Officer is TATTERS.

Seriously it is like watching the Keystone Kops in comic action.

SG now have a CEO who knows NOTHING about stamps. BADDDDDD.

Who cheerfully advises today that they now own this GUANO, they already have a North Korea Grade Rocket Silo case built for it, for the usual idiotic SG cost level, so what do they do next after owning it for months?

HOW ABOUT trotting it out for STAMPEX .. the biggest stamp event globally for 3 years? There's a superb idea.

Sign up 1000s of Brown Cardigan Bunnies onto their email database to hopefully buy some time-share slices in this mad project. At least get a few 1000 real and new email addresses at the same time. A new email name of an active collector is worth 50 quid. Drum up mass media and visibility at this huge event. MAYBE find a potential buyer? Heaven forbid.

Security coverage there is already massive, due to all the millions of dealer stock and material already there. It is staged IN LONDON even .. SG staff can transport it safely.

HELL NO!!!

''We are all dead from the neck up in SG Management and NOTHING will be occurring at STAMPEX with the Guano.'' SG may be broke and in Administration by the time the next STAMPEX rolls around, so mega chance lost right here.

These clowns could not organise a kick in a football match. :roll: :roll: :roll:

Tatters indeed.



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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Global Administrator wrote:HOW ABOUT trotting it out for STAMPEX .. the biggest stamp event globally for 3 years? There's a superb idea.


The answer is: Phoenix is not about selling stamps at all.

It is all about financial engineering.

The main game is not Stampex. Why turn up and try and sell stamps at 5 quid each? The main game happens next month.

Castelnau IPO commences trading on the London Stock Exchange on 18th October 2021.

The Castlenau IPO is valued at £1 x 170m shares = £170m and supporting this valuation is their portfolio of holdings.

According to the IPO papers, the initial portfolio is expected to have a total market value of approximately £123m.*

(Rawnet and Ocula Technologies which comprise the bulk of the offering, are both unlisted companies - what are they really worth?. Gibbons is nearly insolvent but for the Phoenix loan. What is it really worth?)

So, if the shares are fully subscribed (?? this remains to be seen), the Castelnau people rake in £170m - £123m = £47m cash profit. This is oversimplifying it, but you get the idea. :idea:

(A subsequent placing programme will allow the company up to a further 300 million shares sale, in aggregate, in the twelve months from the date of the prospectus.)

The same goes for the 1c Guano. Phoenix paid £6.5m for it. Why even bother trying to sell it for £8m? Instead, parcel it up and sell off the 50,000 x £160 slivers/NFT/timeshares and get your £1.5m profit that you could not get through a normal sale. Then the share buyers are left holding the hand grenade.

Someone recently said: "When they start parcelling up the debt, you know it's bad!".

Some other cheeky person commented: "It sounds a bit like someone is getting screwed, but I wonder who is in this incestuous tryst?"

https://www.lse.co.uk/ShareChat.asp?ShareTicker=SGI&share=Stanley-Gibbons

(*There is no suggestion that Phoenix have done or will do anything against laws or regulations).

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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »


The is an irony in the Sheriffs suggestion of "showing the BG at Stampex", in that, had they done that
(even just for one day, the £10 day), they would have:

1) Guaranteed the financial success of the event,

2) Shown themselves to be front and centre players,

3) Created a buzz on their stall, which would assist other sales,

4) Gauged true interest (or otherwise) in the BG stamp
"Way beyond anything mailchimp could identify"

5) Really added to their press profile, both as a company,
and as "part of the different ownership structure that lays ahead".


If there is one thing out of recent announcements I would be reasonably sure of ....
Even if SG had a dire first half to this year (ending later this week), all "attendant implication, and restructuring" will be swept downstream until after the Castelnau trading commences (18th October).
... (Or to put it more simply, "their credit line just got eased, again").


Trouble is, for me, is that I don't see anything worth saving of the old SG.
That "kind of died" when they couldn't trade stamps profitably".

Stamp collecting is a time intensive hobby, and that's what people are increasingly short of nowadays, so to hook any collector, even for things like football trading cards, is a constant battle that generally only lasts "a season at a time".

I went through a list of things I'd bought directly (or via Vera Trinder) over the years, and compared them to "what's on offer today":

Stamps (obviously!)
... in shop, mail bid and full on auction.
They don't really do these channels well, anymore.

Albums
There are no albums in their current line up I will be buying.
Loose leaf have replaced these moribund "our way, or the highway" layouts.
Anything custom, I can find on the net.

Catalogues
Now, in all honesty, I will buy the Victoria Specialised Part II, if it materialises in 2022, but my Part 1 and SOTW stopped in 2019, as I have no interest in modern stuff at all, (and the recent issues are "handled robustly" by free online catalogues). Catalogue values? Never used an SG for that since 2016 .... just identification nowadays.

Accessories
What new accessories have they had in the last 30 years? (that have not been derided as "not worth the money").

In all the classes listed above, others have simply overtaken them, "as supplier of choice".

Clinically, they died about 20 years ago, and have been on life support ever since.

It's tough love for sure, but maybe this "transfer to the e-knackers yard" is actually "the best thing for them"


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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

.
Reading all this recent news the big picture is coming much clearer. They need SG to add to their Hocus Focus smorgasbord of all sorts of unconnected businesses they hope to entice the Bunnies to embrace in October.

Stanley Gibbons is now just a helpless pawn, within a very large chess game taking place, on a level well above their station in the world of business.

Phoenix is literally bundling together an undertaker, and a Wedding company, and an olde worlde stamp dealer, and Olde Worlde Hornby and Airfix, a 6 million Quid Guano unique stamp, along with a handful of wanky left field brain farts like time-share sellers, and vaguely defined modern buzz word businesses with zero track record, into one huge MIXMASTER - turning the START button and enticing folks to leap into the resultant 170 million quid IPO.

They are 2 x selling famous historic brands, alongside other non-connected business, and a few pie in the sky ventures imputing much upside to investors in the whole mix.

IF the IPO is full subscribed, PHOENIX make ten of millions right away, so it does not matter what really happens at SG.

All pretty sad. They are a bystander in this and no-one cares - it is the olde worlde NAME that Phoenix is trading on ,and attracted to, it seems to me.

SG current CEO knows zero about stamps. The company that owns them also knows zero about stamps. It is the blind leading the blind. :roll: :roll:


https://www.thisismoney.co.uk/money/markets/article-10017913 ... names.html
.
The valuation of the shareholdings of the companies being transferred into Castelnau is expected to be a modest £250 million.

But there is a confidence that with the right creative direction, it could be valued at £1bn or more within three to five years.

The initial investments start with British hobby favourite Hornby, best known for high-quality electric train sets but also home to Airfix models, which made a huge comeback in the pandemic when craft industries prospered.

Channon believes Hornby could appeal to the same hobbyists who have lifted Games Workshop into a stock market phenomenon.

It will sit alongside Gibbons, another eclectic favourite.

At the next stage, the Castelnau portfolio will include shares in Cambium Group, which has become the UK’s leading wedding gift enterprise.

Its victory over UK rivals such as John Lewis is down to a clever platform that goes beyond selling china and vacuum cleaners.

At the less joyful end of life Castelnau will also hold a stake in leading funeral provider Dignity where Channon is chief executive – although his role as the investment manager of the new trust will doubtless lead to claims in some quarters of a conflict of interest.

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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »

Global Administrator wrote:
28 Sep 2021 20:49

IF the IPO is full subscribed, PHOENIX make ten of millions right away, so it does not matter what really happens at SG.

And your eagle like "view from the bridge" will also have noted that if they do sell out the £170M IPO, then they have the right (per the issued prospectus) to sell another £300M of shares in the ensuing 12 months, making those initial bunnies "just minority stakeholders".

Quite similar to another fund manager "that could do no wrong", I now class them all as "The Neil Woodford Effect".

Woodford was "a city golden boy", track record of "impressive growth", who struck out to do his own thing, and crashed spectacularly a couple of years back. I think he's in court this week, as stakeholders still don't know what (if anything) they are going to get back of their life savings / pensions.

Only people "born yesterday" should apply for the Castlenau offering, as it seems most likely "they may well take a lifetime to recover". (Talk about a speculative and risky profile).

I should say, in the interests of balance

... "Do what you like with your brass"..... But please ... "do some serious homework first"!!
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Re: Stanley Gibbons London share price tumbles ............

Post by satsuma »

Perhaps due diligence should extend to considering the name. :D

What after all, is a phoenix but a mythical construct that goes down in flames, without external help; and arises squarking pitifully in protest, about the effort needed to get its act together again.

Seems somewhat apt, on reflection. :lol:

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Re: Stanley Gibbons London share price tumbles ............

Post by Derbyboi2 »

Spoke to SG today who confirm that the 2022 edition of Part 1 will be available at Stampex tomorrow!!!

Wonders never cease!

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Re: Stanley Gibbons London share price tumbles ............

Post by norvic »

Email from SG yesterday:
Dear Collectors,

Welcome to the Stanley Gibbons virtual stand.
After such a long hiatus we are all very much looking forward to seeing many of you again at the Business Design Centre over the coming week and hope that it proves to be an enjoyable event for all of you who are planning to attend.

For those of you who aren’t able to make it – and indeed for those who are – our virtual stand is open from today. It includes many wonderful items and features and gives our valued customers a chance to have a sneak peak at what we have to offer.

As well as trying to source the best stamps and postal history available, our team have also been busy getting a range of new products ready in time for Stampex. In addition to the 2022 edition of the unrivalled ‘Part One’ catalogue, the recently released new iteration of the highly popular colour key and two new albums will also be making an appearance so be sure to make a beeline for Stand 101 on arrival!

While the ONE CENT Magenta won’t be making an appearance at Stampex, it will be going on display at 399 Strand in the lead up to Christmas, something which we are extremely excited about. Our other plans around making the stamp available for all to purchase part of are also now well advanced – come and visit our stand to learn more.

On behalf of everybody at Stanley Gibbons, I hope you enjoy the event be it in person or digitally.

Graham Shircore
Stanley Gibbons CEO

Visit the SG Hub
===============

PART ONE AVAILABLE NOW

Available on the stand this year is the famous 2022 edition of Part One. This Stanley Gibbons comprehensive catalogue covers Great Britain, Commonwealth and Empire countries 1840-1970. The listings include variations in watermark, perforation, paper and printing methods, major shades, watermark varieties, important plate flaws, errors, government telegraph stamps and booklets (all listed and priced).
==================

MINI TALKS THEATRE
Don't worry if you cannot attend the talks in person at Stampex this year, as once again we have made a number of philatelic talks available to watch 24/7 in our mini talks theatre with a little bit of something for all types of collector to enjoy.
If you visit the SG Hub at the link above, you can download three editions of the Philatelic Explorer (the trade magazine) and a special decision of GSM with regular articles but without the catalogue listing at the end. Worth a look and all for free - and, without having to register for Stampex.
Ian Billings - Norvic Philatelics - Remember almost everything I picture is available, unless otherwise stated or copied from elsewhere, as I reduce a roomful of 'stuff' - just ask. GB stamps info: https://blog.norphil.co.uk, NPhilatelics on twitter, www norphil.co.uk, shop.norphil.co.uk for our e-commerce site

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

norvic wrote:
29 Sep 2021 03:24

If you visit the SG Hub at the link above, you can download three editions of the Philatelic Explorer (the trade magazine) and a special decision of GSM with regular articles but without the catalogue listing at the end. Worth a look and all for free - and, without having to register for Stampex.

Some goose is in there, writing 3 pages about Australia etc. :lol:

Glen

https://d16wuvtybxuvj2.cloudfront.net/9716/3231/7070/PE_July ... ow_Res.pdf


And I was surprised they ran my piece telling them what I thought they should do with the GUANO! -

https://d16wuvtybxuvj2.cloudfront.net/5116/3231/7072/PE_Augu ... TISING.pdf
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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

.
Anyway, all this smoke and mirrors and flim flam has seen a TINY upwards blip in the share price -


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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »


Certainly their hub for Stampex meets all expectations ....

v1.jpg
v2a.jpg
Victoria 1840 - 1901
"As you have never seen"!

If its not in stock yet, shouldn't they have set stock to "pre-order"?

Its a bit of a downer on the rest of the flagship range they are taking as new to show, if this one is already "no longer available".


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Re: Stanley Gibbons London share price tumbles ............

Post by Derbyboi2 »

VicciVFU

I shall make the appropriate enquiries at 10 AM tomorrow morning as SG is my first port of call to buy the new part 1.

Robert

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

ViccyVFU wrote:
28 Sep 2021 19:45

The is an irony in the Sheriffs suggestion of "showing the BG at Stampex", in that, had they done that
(even just for one day, the £10 day), they would have:

1) Guaranteed the financial success of the event,

2) Shown themselves to be front and centre players,

3) Created a buzz on their stall, which would assist other sales,

4) Gauged true interest (or otherwise) in the BG stamp
"Way beyond anything mailchimp could identify"

5) Really added to their press profile, both as a company,
and as "part of the different ownership structure that lays ahead".


All good points. Maybe Phoenix haven't worked out how to monetise the 1c Guano at Stampex. You don't want the great unwashed to view it for :idea: free :idea: now do you? Maybe hire a booth from some retired stripper and she can dance around waving the 1c BG. The punters feed in the 20 quid notes to cop an eyeful. It would be as Classy as other events planned. Just a suggestion.

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Re: Stanley Gibbons London share price tumbles ............

Post by Number-O-Ne »

MJ's pet wrote:
29 Sep 2021 10:58
Maybe hire a booth from some retired stripper and she can dance around waving the 1c BG. The punters feed in the 20 quid notes to cop an eyeful. It would be as Classy as other events planned. Just a suggestion.


This idea is very insightful. It can be used at the upcoming Boston 2026 international stamp exhibition, assuming SG is not bankrupt by then.


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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

So we will have some idea about Castlenau IPO by 14 October 2021 then:

Expected timetable

Initial Issue
Initial Placing opens 23 September 2021
Offer for Subscription opens 23 September 2021
Latest time and date for receipt of completed Application Forms under the Offer for Subscription and payment in full or settlement of the relevant CREST instruction 11:00 a.m. on 12 October 2021
Latest time and date for receipt of Initial Placing orders Midday on 12 October 2021
Announcement of the results of the Initial Issue 14 October 2021
Initial Admission of the Ordinary Shares and dealings commence 8:00 a.m. on 18 October 2021
CREST accounts credited in respect of Ordinary Shares issued in uncertificated form as soon as practicable after 8:00 a.m. on 18 October 2021
Certificates despatched in respect of Ordinary Shares issued in certificated form Within 10 Business Days of admission

Subsequent Issues under the Placing Programme
Placing Programme opens 18 October 2021
Placing Programme closes 22 September 2022

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Looking at the Hornby part of Castlenau, so it looks like Hornby has basically not made a profit since 2012 i.e. in the last decade.

Teensy pretax profit of £345,000 year to 31st March 2021: https://toyworldmag.co.uk/hornby-reveals-full-year-results/

Hornby graph.png
Hornby - no profit since 2012

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »


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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Uh oh. Looking at the Castlenau prospectus, some veerryy strange stuff is jumping out.

castlenau prospectus extract.png


1. "Creation of Digital Collections" for the 1c BG.

Victoria Lajer talked about this in a thought-bubble way in one of her video talks. So SG are going to sell you a scan of the 1c BG to put in your digital album? Who wants a digital album anyway?

Here is a :idea: newsflash :idea: : stamp collecting is about collecting actual stamps. Not images of stamps.

The joy of it comes from actually owning the real thing. If stamp collectors wanted reproduction images of stamps in artificial albums, they would have snipped out pictures from catalogues and been very happy. And every dealer would have gone out of business 100 years ago. Does anyone go to a hairdresser and ask for a digital haircut? Yes I understand that some industries need to modernise and can benefit from digitisation but this is bonkers stuff.

2. "Incorporating a New Company to Create a New Digital Platform to sell Collectables"

So Phoenix plan to go head-to-head with ebay, Delcampe, Sothebys etc. etc. Has not all this hair-brained stuff been tried before?? and crashed and burned ... :lol: :lol: :lol:

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

MJ's pet wrote:
29 Sep 2021 18:33

So Phoenix plan to go head-to-head with ebay, Delcampe, Sothebys etc. etc. Has not all this hair-brained stuff been tried before?? and crashed and burned ... :lol: :lol: :lol:

Yes they tried EXACTLY that - Mark Rosenberg vanished with the squandered BidStart millions, and left SG with the bill for it all, and no real extra sales. An A Grade MORON decision, but they made it as a Board.

They clearly cannot keep shiny new in house stock lines on hand, like the QV album set above, so are far better focus on things WAY closer to home.


There is a famous saying that EVERYONE makes mistakes in life, but only CRETINS make them time and time again. :!: :!:

if anyone senior there read past AGM reports, they'd see written admissions there from the Board that Gibbons LOST TEN MILLION QUID on hare brained internet fiascos - and in pretty recent years.

These new blow ins like CEO Shirecore who knows absolutely nothing about stamps, (but writes the cheques to bail them out each few months) and Victoria Lajer, who was possibly in high school when it occurred, clearly appear incapable of reading past AGM reports.


Global Administrator wrote:
02 Sep 2021 15:20
.
Nick777VVV wrote:
02 Sep 2021 06:08

SG couldn't buy the pro bono consultancy they are getting on this thread.

Yes, there is understandable mockery of their (rather silly) own goals, but there is also a genuine desire to try and help the old girl pull through.

Despite the lack of acknowledgement, I'm sure this thread gets read by the SG board.

Will be interesting to see whether any of these ideas get adopted...or whether the head remains firmly implanted in the sand.

I hope not.

No kidding. :) :lol:

I got heavily kicked in the head last week by SG Inc, so these things DO get read. Sadly for them, it does not deter me. Nothing does. :!:

Also sadly for them, I have accurately predicted all their disasters here as they unfolded, from the mad Investment Parcel Schemes, (that may STILL sink them) the obscene 10 MILLION Quid loss BidStart/Rosenberg Internet fiasco, that I warned them of many times here, and in my Stamp Columns, from Day #1 of the clear financial disaster awaiting them, which sold them near zero extra stamps. And many other dopey directions the various boards have taken.

That prize IDIOT, Gibbons CEO Michael Hall oversaw many of the above, and the insane purchases or merging, of wine merchants, and antiques dealers, and coin, and autograph companies, other stamp auctions that left fade away, and stupidly buying Murray Payne, and other quite hare brained ideas.

I suspect having me on the Board for the past 10 years might have saved them a million (or ten) quid, but they do know best about how to sell stamps! And MAYBE their share price might still be near the 4 QUID as it was before the recent madness, not just 2 PENCE. Coff. :lol:

I have always strongly championed the BIG PICTURE vision that SG must survive, for the good of the hobby, and will always hold that view.
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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

.
The totally clueless dreamers steering SG of course think all this brain fart stuff above is original brilliant thinking no-one else has tried.

It is not.

After Rosenberg cost SG 10 million quid on the BidStart madness, and started Hipstamp, he had the brilliant idea to sell fractional shares in a 24c Inverted Jenny and so on.

Just TWO YEARS BACK.

How did that genius idea work out Mark?


''Recent changes to SEC regulations have made it possible to offer SEC-qualified fractional shares in tangible assets, which has allowed us to launch HipStamp Investments - the very first company, ever, to offer fractional shares in collectible stamps. To learn more, and to take advantage of your early access to reserve shares, while they're still available, visit HipStamp Investments now.''

Well click on the link he gave folks, and make up your own mind how it all worked out -

https://www.hipstamp.com/invest


Capture.JPG

Global Administrator wrote:
06 Dec 2019 21:38

The Americans will ALWAYS fall for get-rich-quick Ponzi type schemes - this guy Mark Rosenberg near bankrupted Stanley Gibbons, costing them around 10 million quid on their disastrous and kooky Internet wacko adventure he led them on, that of course collapsed in a heap. They lost the lot.

That train-wreck predicted thus accurately here, well in advance, by me and others.

Here is the latest brain explosion -

"I have some very exciting news I would like to share with you!

We're ready to make a big announcement at HipStamp, but before we do, as one of our top buyers, I wanted to provide you with exclusive early access to a new and exciting opportunity that we're offering.

Introducing: HipStamp Investments - a new way to invest for Stamp Collectors! With HipStamp Investments, you can own SEC-qualified fractional shares in the world's most recognizable and valuable stamps, starting with our first offering of a beautiful and exceptional US #C3a Inverted Jenny (position 27) for $100 a share.

Why did I start HipStamp Investments, and how does it work?

I've spent the past few decades working in the philatelic world, including my time as an executive at Stanley Gibbons, and there's one thing I have always thought about, but never had an answer to.

In the last 10 years, Mint stamps priced $25-50 have decreased in value by 6% on average, whereas Mint stamps priced $50K-$100K increased 45% in value during the same period; and when you look at rarities over $100K, such as the Inverted Jenny, the returns are even more significant.

However, there has never been a way for stamp collectors, except for the ultra-wealthy, to participate in this market, and see these types of returns on their investments. That is until now.

Recent changes to SEC regulations have made it possible to offer SEC-qualified fractional shares in tangible assets, which has allowed us to launch HipStamp Investments - the very first company, ever, to offer fractional shares in collectible stamps.

To learn more, and to take advantage of your early access to reserve shares, while they're still available, visit HipStamp Investments now.

Any questions? Let me know! Mark Rosenberg CEO HipStamp | Hip eCommerce

https://www.hipstamp.com/invest/


Image



So in a nutshell you are pledging to buy $100 shares that are not shares yet, in a hare-brained venture not approved by the SEC yet, in a stamp allegedly worth $US485,000 which of course this hinged, off centred example, will NEVER realise. The sound MLH Don Price stamp, right next to this in the sheet, of same centering sold for $US330,000 before Buyer Fee at Siegels in 2017, so seller ended up with under $US300,000 after seller commission -

https://siegelauctions.com/lots.php?year=2017&lot_name=Inver ... 28%2C+2017

And whatever it sells for (there is no end date outlined for this magic to occur!) there will be a RAFT of juicy Hipstamps fees, (the only reason they are in this) huge Broker fees, Auction fees, high legal fees, storage fees, insurance fees, and taxes creamed right off the top you can bet, before these genius investors get near smelling a cent of profit, much less hoping to get their money back - which of course they will not.

This stamp last sold for $US115,000 in 1990 at public auction, so seller got around $US100,000 then.

Never hinged, or very well centred do get the big bucks, but this is mid grade and $300K or so is all seller will get at Auction. So the hoped for army of small investors all kicking in their $100 bills will underwrite $US485,000 it looks like, to maybe get a share of half that if it is sold, after all front end and "Management" fees are skimmed off. GENIUS stuff. :roll: :roll:
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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »

MJ's pet wrote:
29 Sep 2021 18:33
The joy of it comes from actually owning the real thing. If stamp collectors wanted reproduction images of stamps in artificial albums, they would have snipped out pictures from catalogues and been very happy.
For some people, yes, but for an increasing number of newer "collectors", "the quickest route to a solution is often the path taken".

I do wonder, in all their deliberations about "creation of digital collections" whether they consider "the dark side, they are feeding"?

When you publish a scan in high resolution, there is a whole industry of bottom feeders that want to exploit that image for their own forged creations.

Currently on eBay we have a GB sg121 with OD corner letters, yours for the bargain price of "a cup of coffee" (in the western world :D ).

sg121_forgery_210929_ebay.jpg
GB sg121 forgery, currently listed on eBay.


OD_greek_forgery.jpg
GB sg121 forgery - A space filler, perhaps?



This stamp is a rip-off of the OD stamp offered as part of the Dimitris Bertsimas collection, (by Robert A Siegel in 2019). It realised $8,000 plus premia (so around US$10k).

OD_text.jpg

When you put them side by side, the similarities, yet differences are obvious ......


sg121_OD_fake_vs_real_small.jpg
GB sg121, (Greek forgery on left).



and close up ...

sg121_close_up.jpg
GB sg121, Greek forgery on left, sectional close up


You didn't seek the Greek forgery "until a year after the Dimitris sale" ...

...... And what the SG / Phoenix / Castlenau "think tank" should take from all this, is that when they plan to "create a digital album", the first customer that buys it with "bad intent" may be the last sale they ever make. Millions spent on research and re-scanning (current scans won't do), for one sale, plus an infinite number of pirate copies?

Digital has its place in modern stamp collecting, but anyone wanting "high resolution scans of some of the worlds rarities" isn't going to be paying SG a premium for them ... they will merely scour the back catalogues of Siegel and othet top tier auction houses, plus the Museum of Philately, and other national museums, that have all the stuff readily available (if not heavily coordinated, yet!!).

I actually now see it as a race, between :
1) SG, and their desire to go digital (21 years and counting)
2) Post Offices abandoning stamps, and going totally digital.

Collectors will always want evidence of all forms of social history, so I think the classic little scraps of paper, as a hobby, are safe for the foreseeable. I can't think of a collector I talk to, that hasn't got their own high res scans, both of their collection, and their wants list.

SG just need to find "a profitable process, to deal with that evolving landscape".

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Re: Stanley Gibbons London share price tumbles ............

Post by norvic »

ViccyVFU wrote:
29 Sep 2021 05:05

Certainly their hub for Stampex meets all expectations ....

Image
Image
Victoria 1840 - 1901
"As you have never seen"!

If its not in stock yet, shouldn't they have set stock to "pre-order"?

Its a bit of a downer on the rest of the flagship range they are taking as new to show, if this one is already "no longer available".

Available now to add to cart.
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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »


And you go into todays newsletter from Philatelic Exporter, only to find they have not updated the Stampex link ....

PE_today.jpg
Todays Philatelic Exporter website landing page


Clicks through to March 2021 Stampex

march.jpg
Hmmm...


Ultimately, this is Shircores responsibility.

If he has not got "a passion for the business he is in", or "an attention to detail, and checking in place",
he should resign (or preferably, be sacked).

He's certainly no "Strong leadership, to drive them into the digital age", that's for sure.


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Re: Stanley Gibbons London share price tumbles ............

Post by JonEboy »

As someone in the Digital landscape on a daily basis, and knowing Glen's view on their previous digital forays (see above), the bit that stood out to me from the prospectus was this:
the Investment Manager has built a “Castelnau Toolbox”,.... At the heart of this is the Investment Manager’s insight that there are businesses with a core franchise that are suffering from the changes going on in the marketplace (such as the rise of e-commerce), which, if they could embrace the best of modern techniques, would allow these businesses to thrive and ultimately deliver value not recognised in their current valuations.

In addition, the Company will own businesses that are considered by the Investment Manager to be “enablers”, and which can be used to enable the business transformations of investee companies. These businesses are Rawnet, a digital marketing and software development company, and Ocula, a data science company.
In essence, they seem to believe that they can do what SG has singularly failed to do over the past ten years, and actually make a success out of the online space. I have no idea whether these 'partner' firms are any good but I'm sure they can't be as bad as the incumbents. Following a top tip on this thread some weeks back, I started watching SG listings on eBay. And as a result, these arrived today:

Scan 57.jpeg
Scan 58.jpeg


The total cost, including postage, was under £4. Everyone else seems to be selling them for about £50. My local dealer will definitely give me at least £20 for them when I see him next.

Until and unless they get a grip of online sales, this stock is going nowhere.

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Here are the Spink "events" at Stampex. No NTFs, IPOs or WTFs, just a stamp business engaging with their customers. :lol: :lol:
Spink events.png

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

ViccyVFU wrote: ...... And what the SG / Phoenix / Castlenau "think tank" should take from all this, is that when they plan to "create a digital album", the first customer that buys it with "bad intent" may be the last sale they ever make. Millions spent on research and re-scanning (current scans won't do), for one sale, plus an infinite number of pirate copies?


Very good points. And with stamp piracy occurring on an industrial scale in China (and Revesby, Sydney!), the SG / Phoenix / Castlenau "brains trust" think this will be profitable? 8-)
Last edited by MJ's pet on 30 Sep 2021 10:28, edited 1 time in total.

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

JonEboy wrote: In essence, they seem to believe that they can do what SG has singularly failed to do over the past ten years, and actually make a success out of the online space. I have no idea whether these 'partner' firms are any good but I'm sure they can't be as bad as the incumbents.


At least one of the partner firms has only existed since January 2021 (9 months ago), and seemingly never traded or made a profit. Brought into existence for the purpose of throwing into the really valuable IPO pot?? So totally untested it seems.

ocula.png

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

I don't think anyone has mentioned this before, but it "looks like" Phoenix are placing high-value retail items with dealers other than Stanley Gibbons.

I have noticed certain items in SG retail stock that a little while later appear on the Paul Fraser Collectables site. I guess it is possible in theory he bought them and it now trying to sell them, but I doubt it.

If one searches PF stock by highest value first, just the first few classic GB items alone are worth a few million quid. Can anybody really familiar with classic GB place these items in Phoenix/SG stock?:

Paul Fraser.png
Link: https://www.paulfrasercollectibles.com/collections/postage-stamps?sort_by=price-descending


Phoenix of course basically own the SG high value RRAAArrrreeee stock, ring-fenced from a potential SG collapse. Now it seems they are cheating on SG and placing these items elsewhere for sale? If they are doing this then it is hardly a vote of confidence in SG.

When I use the word "cheating" I am referring to it only the the matrimonial metaphorical sense, not the legal or business meanings of the word.

I am not saying that this is happening but it seems to be a strange occurrence.

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Re: Stanley Gibbons London share price tumbles ............

Post by Allanswood »

Or Paul Fraser is selling on commission basis to try and move some SG stock for them / build exposure.

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

The 125,000 quid item on PF is described this way:

PF cover.png
Description
Great Britain 1840 2d Mulready Envelope (Forme 1, Stereo a202).
Very fine used example uprated to the 6d per 3oz rate with four additional 1d blacks from plate 8 lettered QA, SE, SG & SJ (SE & SG State 2 provisional printing) all neatly cancelled by crisp black Maltese Crosses.
Sent from London to Dulwich with a "T.P./Cheif Office" handstamp and circulare date stamp on reverse for AU.19.1841.
Some soiling nevertheless a spectacular uprated franking, one of only two recorded 6d frankings prepaid with four additional 1d blacks.
Ex Yates & "Mayflower" Collections. Accompanied by a 1996 British Philatelic Association Certificate of Authenticity.
One of the great rarities of Great Britain Philately.
An ex Stanley Gibbons stock item.

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Allanswood wrote:
01 Oct 2021 11:12
Or Paul Fraser is selling on commission basis to try and move some SG stock for them / build exposure.


That makes sense. But is hardly a vote of confidence in the company they own 58% of.

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Here is a recent article on Castlenau "for what it's worth".

https://www.sharesmagazine.co.uk/article/new-fund-to-help-mo ... -companies
sharemagazine.co.uk wrote: New fund to help modernise old fashioned UK companies

Castelnau will help names like Hornby to embrace the internet and hopefully generate at least 20% annual returns for investors

Daniel Coatsworth | 30 September 2021|NewsIssue: 30 Sep 2021 - Page 8

Phoenix Asset Management’s new investment trust Castelnau is targeting a minimum 20% annual return by helping to modernise a group of old-fashioned businesses. Direct Line (DLG) and Esure founder Peter Wood will be a cornerstone investor and will work with Castelnau to jointly invest in new opportunities.

Joining the stock market on 18 October, Castelnau’s initial portfolio will include stakes in toy train seller Hornby (HRN:AIM), funerals group Dignity (DTY), stamp dealer Stanley Gibbons (SGI:AIM) and wedding gifts group WLS, which are being transferred from other Phoenix funds. The portfolio will also feature stakes in digital agency Rawnet and data analytics group Ocula Technologies.

WLS and Ocula are likely to float on a stock market, potentially in 2022, but Castlenau will retain a stake in both companies post-listing. Phoenix chief exeutive Gary Channon says that Castelnau’s model is to never sell out of holdings completely, making it different to most other funds and investment trusts which invest when a company is cheap and exit when it hits fair value.

Phoenix has a reputation for undertaking deep research and working closely with management teams to improve financial and operational strength.

Its investment in WLS has become a blueprint for how Castelnau might work with its other investee companies. ‘WLS was an old-fashioned business. It didn’t really use the internet, so we rolled out online services and used data science to improve sales and marketing. It has now surpassed Amazon and John Lewis for wedding gifts and sales are running at nearly than twice the peak 2019 level.’

Only one tenth of Hornby’s sales are currently direct to consumer and Channon believes it can reach more hobbyists using technology. For example, Hornby has a version of Airfix models which can be pieced together like Lego without the need for gluing or painting, sold under the Quickbuild brand. ‘People don’t know these products exist,’ says the Phoenix boss. ‘We can help Hornby find people digitally and sell the products anywhere in the world.’

Stanley Gibbons is in the process of digitising its library of stamps and coins and the company sees opportunities with fractional ownership, where collectors buy a piece of a stamp or coin digitally. This might even attract a new audience for Stanley Gibbons, namely people who want to trade digital assets such as cryptocurrencies and artworks via non-fungible tokens.

Castelnau will join the specialist fund segment of the London Stock Exchange where there are restrictions on trading for retail investors. This part of the market is aimed at more sophisticated investors and anyone seeking to buy the shares once listed may have to fill out a questionnaire with their investment platform provider before being allowed to trade.

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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

Allanswood wrote:
01 Oct 2021 11:12
Or Paul Fraser is selling on commission basis to try and move some SG stock for them / build exposure.


Some members here clearly have short memories!

Paul Fraser OWNED SG outright for a while, and had substantial shareholdings for near 20 years.

Clearly he is very well-connected there and offering top end stuff on his site cannot hurt their sales.

At least Fraser knows something about the stamp business, unlike the current ''CEO'' Shirecore who is a puppet beamed in from Phoenix to keep an eye on things.




Fraser first invested in Stanley Gibbons in 1989 when he acquired a large block of shares in the company from Clive Feigenbaum. He purchased a further 30% stake in the company from New Zealand businessman Sir Ron Brierley who is a stamp collector. In 1990 he was appointed Executive Chairman of the firm. By 1995 Fraser had acquired 76.83% of Gibbons shares and he purchased the rest of the shares in December 1995.

Flying Flowers


In June 1998, Stanley Gibbons was sold for £13.5 million to Flying Flowers. In the deal Fraser took shares in Flying Flowers instead of cash and he was left with an 8% stake in the enlarged company following the transaction.

The merger was not a success and in 2000 the two companies were demerged again after a series of profits warnings and trading problems.

Fraser's stake was reduced in value from £13.5 million to £4 million. The demerged Stanley Gibbons became Communitie.com and was listed on AIM. The chairman of Flying Flowers was quoted as saying the deal "...was at the wrong price and at the wrong time.

In August 2007, Paul Fraser resigned as Executive Chairman of Stanley Gibbons and in April 2008 he sold his remaining shares to focus on Paul Fraser Collectibles.

Paul Fraser Collectibles


Paul Fraser's current venture is Tika Lifestyles Limited, trading as Paul Fraser Collectibles, a company that specialises in the sale of high-end collectibles such as rare stamps, vintage wine and autographs.





Fraser and Dunningham did VERY well out of SG shares when bailing out in the ESCALA disaster period in 2006, getting 155 pence a share and not the current THREE pence, as I reported at the time -



Gibbons share price also slumped, but not nearly as much as Escala did. Interestingly SG Chairman Paul Fraser slashed his stake April 18, 2006 to 226,000 shares, after selling 1 million shares at £1.55p each.

Timothy Dunningham, who stepped down as a non-executive director in March, also sold a million shares at the same price. His total stake in the group was thus cut to 669,000, which represents 2% of the company.

Dunningham seems to do well out of predicting share price falls in companies related to Stanley Gibbons - he netted about £2 million profit back in 1998 as outlined in detail in my press articles at that time.

etc, etc .................
.
Click HERE to see superb, RARE and unusual stamps, at FIXED low nett prices, high rez photos, and NO buyer fees etc!

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Re: Stanley Gibbons London share price tumbles ............

Post by MJ's pet »

Global Administrator wrote:
01 Oct 2021 13:26
Paul Fraser OWNED SG outright for a while, and had substantial shareholdings for near 20 years.

Clearly he is clearly well connected there and offering top end stuff on his site cannot hurt their sales.


Yes. But it is hardly a vote of confidence in SG. Phoenix are supposed to be "transforming" and "modernising" the "old-fashioned" SG and "generating a 20% annual return for investors", not competing against it. Just shows that SG are held completely hostage to Phoenix.

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Re: Stanley Gibbons London share price tumbles ............

Post by Nick777VVV »

.
Ironic that the CEO of Paul Fraser Collectibles is one Michael Hall, ex. MD of Gibbons.

And PF Collectibles are active in promoting stamp investment...


Screenshot 2021-10-02 at 11.31.34.png

Haven't we been here before...?

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Re: Stanley Gibbons London share price tumbles ............

Post by ViccyVFU »

Nick777VVV wrote:
02 Oct 2021 21:39
.
Haven't we been here before...?

Sure

roundabout.jpg
SG "Carousel of Progress"

Punters ride the ups and downs, whilst SG own the Carousel!! :D

(Any rise in your holding is "due to their expertise", any fall is just "market forces"....Sound familiar?).


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Re: Stanley Gibbons London share price tumbles ............

Post by Global Administrator »

.
Nick777VVV wrote:
02 Oct 2021 21:39
.
Ironic that the CEO of Paul Fraser Collectibles is one Michael Hall, ex. MD of Gibbons.

And PF Collectibles are active in promoting stamp investment...

Haven't we been here before...?

Incredible. :roll: :roll: :roll:

I have met Paul Fraser and thought he was a very savvy guy.

That view has changed if he has appointed this IDIOT Michael Hall as his CEO.

I assumed he was out flipping burgers, or driving buses, or weeding gardens etc, or doing things that could NOT cost others millions of quid. :!:

The background to this mysterious just collecting limited company seems murky - can anyone confirm it is owned by Paul Fraser? Seems to as Hall is doing his clueless videos on youtube with a Paul Fraser logo.

https://www.jerseyfsc.org/registry/registry-entities/entity/303776

Just Collecting, 19 Britannia Place, Bath Street, St. Helier, Jersey, JE2 4SU

Who is clearly up to the exact same looking rubbery figure investment tricks, and wobbly graphs, that cost Gibbons about 20 million quid or whatever and near sunk the company.

I assumed after near bankrupting SG via a litany of idiotic decisions and directions, no-one in the trade would have touched Michael Hall with a BARGE POLE.

Well any savvy investor googling Michael Hall, Mike Hall, Paul Fraser and Stanley Gibbons might land on this thread, and run a mile.

Mind boggling.



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Re: Stanley Gibbons London share price tumbles ............

Post by CMJ »

Global Administrator wrote:
02 Oct 2021 22:55
The background to this mysterious just collecting limited company seems murky - can anyone confirm it is owned by Paul Fraser? Seems to as Hall is doing his clueless videos on youtube with a Paul Fraser logo.
Given that the Paul Fraser Collectibles website https://www.paulfrasercollectibles.com lists Just Collecting https://www.justcollecting.com as part of the "PFC Family". I would say that that is a definite "yes".

PF2.JPG

Also the most expensive items in each of the stores are identical (apart from the £2,000,000 collection on the PF website which is just the most expensive items rolled into a single puchase).

pfc_stamps.JPG
jcStamps.JPG

And if that wasn't enough, a quick check of the Jersey Reister of Companies confirms that Paul Fraser owns 100% of the allocated shares in Just Collecting Limited (119468).

Chris.


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