Stanley Gibbons hat heute eine erneute Gewinnwarnung veröffentlicht. Besser sollte es Verlustwarnung heissen. Die für das Geschäftsjahr per Ende März veröffentlichten Ergebnisse werden mit minus 1 bis 2 Millionen Pfund vor Steuern geschätzt.
http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB0009628438JEGBXAIM.htmlDer Aktienkurs gab heute in London um weiter 36 % auf 41 Pence nach, in Frankfurt um 37 % auf zuletzt 52 Cent. Vor einem Jahr wurde die Aktie noch zu 4 Euro gehandelt. Die Aktionäre haben in dieser Zeit 87 % ihres Kapitalwerts verloren.
http://www.ariva.de/stanley_gibbons-aktie/chart (den Handelsort Tradegate, sollte dieser erscheinen, auf Frankfurt ändern !)
Die Gründe liegen in anhaltenden Umsatzrückgängen mit Luxusgütern nach der in den letzten Jahren erfolgten Diversifikation und den dadurch erfolgen Kostensteigerungen. Künftig sollen jährlich Kosten über 5 Millionen Pfund eingespart werden.
Inwieweit der Handel von Briefmarken und die Herausgabe von Katalogen und Zeitschriften von den Sparmassnahmen betroffen ist, war nicht zu erfahren.
Stanley Gibbons hat derzeit einen Marktwert von nur noch 27 Millionen Euro.
Schöne Grüsse, Richard
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23 February 2016
THE STANLEY GIBBONS GROUP PLC (the "Group") Funding and Trading Update
On 13 January 2016, the Group announced that it was considering a number of fundraising alternatives to reinforce the Group's working capital position prior to 31 March 2016. At that time the Board believed that an equity raise might be comparatively unattractive as the Group's market capitalisation was less than its Net Asset Value. However, having considered the various alternatives, the Board is now confident that an equity raise is the most expedient and efficient method by which to raise the capital necessary. Accordingly, the Group is in the process of raising approximately £10.0 million of new equity (the "Fundraising"). The Board intends that the Fundraising will be executed in a manner that recognises the pre-emption rights of existing shareholders insofar as is possible and will make a further announcement regarding the Fundraising next week.
It is intended that the proceeds of the Fundraising will be used to support a rationalisation exercise, to complete the integration of previous acquisitions and to provide the additional working capital necessary to allow the Group the financial flexibility to trade efficiently during this period. The Board has already initiated a review of the business, particularly its cost base and effective utilisation of properties and other resources. The Board has identified and begun to implement cost savings which will amount to at least £5.0 million on an annualised basis and has appointed Evolution Securities China Limited ("Evolution") to assist with this review. Clive Whiley, Managing Director of Evolution, has extensive experience of restructurings and post-acquisition integration and it is intended that following the completion of the Fundraising he will be appointed as a Director of the Group.
In addition, the proceeds of the Fundraising will be used to repay approximately £6.0 million that has been made available to the Group by way of an additional overdraft facility repayable by 31 March 2016 and which is expected to be substantially drawn before completion of the Fundraising. The Group's total gross indebtedness at 31 January 2016 was £22.6 million and it is expected that following completion of the Fundraising, the total bank facilities available to the Group will amount to £19.5 million. These facilities will not be due for review until 31 May 2017.
The Group has continued to experience lower revenues throughout the business, with sales of rare collectibles to high net worth clients being at a lower level than expected and trading being particularly difficult in the interiors division. Additionally, the integration of recent acquisitions has still not achieved the level of cost savings that is required and there has been continued investment in the online platform. As a result of these factors, the Board now believes that for the year to 31 March 2016 the Group will report an adjusted loss before tax of between £1.0 million and £2.0 million.