Forum Archive Index - April 2001

["Peter Maiden" <pmaiden@today.com.au>]

Interesting article posted about GPG and Time Products in the UK.

This is typical of the Ron of old.

Recently deals have not quite gone his way but this is one that looks 
like it is going to work.

Time Products sells expensive watches and other luxury items - and 
makes a pretty good margin in doing so.

Over the last couple of years they have divested a few operating 
units - most of the proceeds still sitting in the comapny.

Last balance sheet of Time Products has cash and investments at 
GBP32M - about 76p a share. A lot of cash when present market cap is 
GBP70M

GPG got involved when the share price was about 120p.

Look at the Time Products graph now - 

http://www.londonstockexchange.com/invrel/company.asp?sedol=0892401

Hasn't GPG extracted the value out of this company.

GPG didn't, by their own admission, have a great year last year. Not 
finalising a lot of deals seemed to be a problem.

However this is one deal that appears to be heading in the right 
direction. GPG looks like it is in for a far better year this year

I am also following GPG's entry into the new economy companies in 
this part of the world. Obtaining the skills of Wayne Bos and letting 
him loose through Tomorrow Ltd is a smart move. Seem big deals coming 
to fruition soon - at bargain basement prices. 

Cheers

Peter

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