View Full Version : G.W. share activity: An acquisition or disposal of voting rights

02-01-2008, 21:47
found this info about gw shares today;


Can anyone that understands shed a bit more light on how it may effect our hobby?

02-01-2008, 22:37
ruh roh, liquidators bought 17% of GW!!

02-01-2008, 22:44
... liquidators ...

Enlighten us.

Says (http://www.phoenixassetmanagement.com/) they are a fund investing majorly in UK firms...

02-01-2008, 22:49
Just looks like a share acquisition by an investment fund. The have been similar announcements in the past (see below), and I would assume that listed companies have to make an announcement to the stock market when a shareholding exceeds certain thresholds.


02-01-2008, 22:56
Phoenix Asset Management is one of the firms (http://investor.games-workshop.com/information_for_investors/your_shares/shareholder_stats.aspx) which owns/are major shareholders of GW...

So nothing to see here - they just bought a little bit more...

02-01-2008, 23:03
Which implies they have some confidence they're going to see a return on their investment.

02-01-2008, 23:05
This is really just an invesetment partnership, but some things give me pause like:

"Company Investment Approach:

When buying or selling shares we are trading a fractional part of a whole business.

So when analyzing a company we consider its total market value and treat the investment as if we were buying (or selling) the whole company at that price.

There are three major things that we are looking at in a company. They are its business, its management and its price"

But, if you read about the Directors of the fund, the non-exec chairman did lead employee buyouts of their respective companies, so who knows, maybe GW is looking to get someone to assist them in going private?

the disclosure is just that: a certain number of shares were purchased etc etc, in other words nothing earth shattering (except the fact that they bought 17% of the voting block), but again, this is Warseer and snowballs do tend to grow over time :)

My post served to stir the pot a bit. Looks like I succeeded ;)

One last bit, maybe the fund is betting on the success of the Hobbit movies to have the same LOTR effect on GW stock valuation?

Templar Ben
03-01-2008, 01:09
Which implies they have some confidence they're going to see a return on their investment.

It is rock bottom pricing.

03-01-2008, 05:14
Investment companies will often buy more when prices are low, and they expect them to go up later.

Or, they could be buying more shares to exert more control over the company, a way to enforce their idea on how to improve the company's profitability.

But yeah, sometimes an investment company will buy to "strip and flip." Cerebrus may have bought Chrysler to do that... buy it, prop it up so it looks good to someone else, and then sell the pieces. 17% isn't enough for that, though.