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Thread: SCY Chart

  1. #271
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    Quote Originally Posted by percy View Post
    Posted 20-12-2018.
    The battle has got a lot harder.
    6 months to 31st October.2019.
    Revenue down 16.8% to $95,050,000
    Loss $2,161,000.
    Hi Percy. Probably a stupid question but i'll try anyway.

    As of 1st July 2019 SCY had a tangible asset backing of .77 per share, and is currently trading for .25 per share. The top 3 shareholders own a controlling stake in the company, so what is stopping them buying up another 25% if the sp continues downhill (or talking to minor shareholders) and liquidating the company for an approximate 300% return (which they have no chance of getting if they continue to hold)?

  2. #272
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    Quote Originally Posted by Gerald View Post
    Hi Percy. Probably a stupid question but i'll try anyway.

    As of 1st July 2019 SCY had a tangible asset backing of .77 per share, and is currently trading for .25 per share. The top 3 shareholders own a controlling stake in the company, so what is stopping them buying up another 25% if the sp continues downhill (or talking to minor shareholders) and liquidating the company for an approximate 300% return (which they have no chance of getting if they continue to hold)?
    What is that asset backing of 77c per share made up of? Is it realisable? How many long term leases do they have and how onerous would it be to exit them?

  3. #273
    percy
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    Quote Originally Posted by blackcap View Post
    What is that asset backing of 77c per share made up of? Is it realisable? How many long term leases do they have and how onerous would it be to exit them?

    Now down to 67 cents.I very much doubt there is any realisable value.Value has been in Smiths Finance.However it relies on retail to originate deals.Without retail they have no originators.Smiths no longer own the Colombo Street store property.
    Gerald .Welcome to sharetrader.
    Last edited by percy; 14-12-2019 at 06:44 AM.

  4. #274
    An Awesome Cool Cat winner69's Avatar
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    Hey percy ...hope history not repeating itself

    http://nzx-prod-s7fsd7f98s.s3-websit...819/319821.pdf
    “Just consider that maybe the probability of you being wrong is higher than you think.”

  5. #275
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    Quote Originally Posted by winner69 View Post
    Hey percy ...hope history not repeating itself

    http://nzx-prod-s7fsd7f98s.s3-websit...819/319821.pdf
    I'd say they are toast.

  6. #276
    percy
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    Quote Originally Posted by winner69 View Post
    Hey percy ...hope history not repeating itself

    http://nzx-prod-s7fsd7f98s.s3-websit...819/319821.pdf
    I fear it is.
    Last edited by percy; 27-03-2020 at 03:07 PM.

  7. #277
    percy
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    Quote Originally Posted by percy View Post
    Maybe had SCY followed Gerry Harvey's "franchise" model, 20 years ago, they would be "well positioned" for anything today.
    Certainly shareholders would have benefitted.
    Above posted 22-12-2017.

  8. #278
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    Someone on reddit shared that the CEO sent a thank you email to employees today for their "resilience and continuing loyalty" and that he can't tell them more about the ASB discussion until the shareholders are informed.

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