Information  X 
Enter a valid email address

Stanley Gibbons eyes possible sale of some, all of group

By BFN News | 07:18 AM | Monday 12 June, 2017

Stanley Gibbons has resolved to conduct a full strategic review to probe the options open to it, and these could include a sale of some or all of the group. The board had appointed finnCap Ltd to conduct this review. This latest step followed a complete overhaul of the board and the executive leadership last year, which saw the company comprehensively restructured. "During this time the new board has successfully reduced annualised operating costs by over £10.0m and announced disposals totalling £6.3m from the sale of parts of the Interiors Division to date. "The group now has a clear focus and understanding of its competitive advantages and achievable corporate goals," it said. "The core activities of the Group are now conducted via Baldwin's, Stanley Gibbons, Murray Payne and Apex, which share similar characteristics alongside the commercial advantages associated with being market leaders in the numismatic and philatelic markets respectively". Stanley Gibbons said the restructuring programme had created a group that was now much more stable than at any time in the last 18 months. "The Board's success in achieving divestments from non-core assets to generate investment capital for the Group and the recent approach from Disruptive Capital, leaves the Board determined to ensure that the underlying strength of the core business is fully reflected in shareholder value," it said. Disruptive Capital Finance LLP said today that it was not making an offer for Stanley Gibbons. Story provided by

a d v e r t i s e m e n t