28 Feb 2012– Seymour White announces half-year profit of $8.2m and forecasts full year profit of $12.8m
27 Mar 2012– Seymour White founder and major shareholder John Seymour sells 3 million shares at $2.00-$2.30 per share
27 Mar 2012– Seymour White Managing Director Brian Riggall announces that he has sold 5,103,896 million shares at $2.00-$2.30 per share
2 Apr 2012– Seymour White announces resignation of Managing Director Brian Riggall
19 Jun 2012– Seymour White announces ‘net profit and revenue update’. Full year profit is now expected to be $8.7m, $4.1m lower than previously forecast. Share price falls to $1.10
Disclosure: We haven't ever owned shares in the company.
What about Billabong? Never held a share in the company but what a disgrace!
Yep it’s a massive downgrade
The Directors gave a reason for “selling” in March
Does anyone remember what it was ?? Made sense then, Not Now
Since then large construction companies have “Gone Down” in NSW
Competition has been fierce, companies are struggling to keep afloat
So a recently listed small company growing quickly in a cyclical industry. Has a hiccup?? That’s not unusual
Maybe they should be praised for being upfront about the forthcoming accounts They say they are being conservative in their guidance.
Seymour White appear to be strong financially
So they may be worthwhile to hold for the future
or consider a small holding in case (when) they decide they need to raise more capital – for a small investor who doesn’t already own share this might be a good arb (assuming they go with the standard, and yes unfair, SPP)
Or, how about this one.
11 Feb 2011 at the full year announcement STW Communications announces ‘a review of our capital structure in light of our strengthened financial position’ to be updated at the May AGM. Stock jumps to $1.35 in the next few days.
17 Feb 2011 a significant director sells one million shares at/near the market top.
10 May 2011 at the AGM the capital management is called off never looking likely and the same ‘favourite son’ director resigns. Stock closes $1.12
A very cynical person would say they just witnessed a new way for a company to give free golden handshake. Lucky I’m not cynical.