jeudi 26 mai 2011

SAMP Update #2

J'avais mentionné dans mon précédent message sur SAM, la résolution soumise en AG de voter un dividende exceptionnel (4€, voir 8 €), ce qui aurait éventuellement réveillé le titre.

La résolution a été rejetée en AG, le dividende sera de 1,2 €, SAM est donc toujours assis sur une pile de cash de de 8 m€ pour une capitalisation de 15 m€, en attente d'une éventuelle acquisition (c'est ce que dit le management). On peut donc se rendormir.

I had mentioned in a previous post on SAM, that a special resolution to distribute a special dividend (4 or 8 €)  had been submitted to the shareholder's meeting, which could have been a catalyst.

This resolution has not been voted, the dividend will be 1.2 € (1.1 € in 2009). The company is still a net-net and is still sitting on a large heap of cash (8 m€ cash for a 15 m€ market cap), waiting for a possible acquisition (according to the management, but they've been saying that for a while).

2 commentaires:

  1. In case you didn't know: SAM has purchased a company in Paris selling pneumatic tools. They won't say what the acquisition price was, but the company had sales of €5m, of which about €1m export.

    I've put in a buy order on the shares, but it is substantially lower than the current price. I don't want to buy it at this price before I know how this acquisition affects the cash balance...

  2. Hans
    Thanks for your comment (1st comment on this blog, champagne !). As a matter of fact I discovered that info only today.
    PTS has a website here

    I don't think that they (PTS) have production capabilities. They import and distribute pneumatic tools. I googled them and the only (mildly) interesting fact I found is that they've lost in 2010 a lawsuit against FACOM for copying the appearance of a FACOM product
    Don't know if this is significant though.

    Like you, I won't move before knowing how much SAM has paid. Anyway I appreciate that the management of SAM did what they told (did not pay a special dividend but actually used cash for an external acquisition).