Felix: I'm sure you're right about PG. He'll sell out when he can get a fair price. The shares look absurdly cheap (if the business is really recovering, as it seems to be), and the question in my mind is who might conceivably be interested in bidding for it. Apart from SCY Ling, the directors have very small holdings.
Zitaron: thanks, shows that he has been a director since 1984, which is interesting. However, it seems to be incomplete. He did buy those 1.3m shares, but he already had a large holding. His total holding now amounts to just over 10% or 7.24m shares according to two other sources, Company Refs and Investorease.
The assets are interesting: must be about 31p per share now (less any continuing losses), and there is also the possible value of the Matlock site, which may eventually get planning permission. However, this is a huge company (despite its very low valuation) with about 6,000 employees, and the financial position is still weak. Net debt is over £20m (104%), plus the $4m preference shares, so we have to hope that they can get the business on a sound footing pretty soon. If it were forced into liquidation there would be nothing left for ordinary shareholders.
Happy New Year both of you, and let's hope it's a profitable one!
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