Morrissey is back with a new album at no 1 in the album charts out on Sanctuary Records (SGP). This is a big deal for a pretty small company. Added to this the first half results out today should show improvements in first half sales - their niche strategy is working. Expectations of an upbeat trading statement with double digit growth bucking the trend in the music industry. Share should tick up today.

SGP are offering their shareholders the right to subscribe
for additional shares on the basis of 8 new Ordinary shares for every 75
Ordinary shares held 50p per share when the shares are re-stated in March. Any sensible analysis on whether to go for this option or cut losses as they stand?

Can anyone explain what has just happened with sanctuary's share price. I am a novice investor and sold last week at 0.29.I looked to-day and they are now at 53.0. Did I miss out on a massive profit??

frsSim, dont panic you didn't miss the boat[or the profit] there was a share consolidation to reduce the number of shares in the market. [ i dont pretend to know the exact consolidation as i am only an amateur myself but prob something along the lines of 1 new share [at approx 50p] for every 150 old ones [at approx 0.3p] thus the new price of 50p[+/- todays movement]. I dont know if the the shares are a good move, i watched and decided against them but that is just my opinion. the professionals may be able to give you the exact consolidation split.
hope this helps

robertalexander, thanks for replying to my post. You have made me feel better. I think I will stay away from Sanctuary for the moment.

robertalexander, thanks for replying to my post. You have made me feel better. I think I will stay away from Sanctuary for the moment.

Still suffering even after consolidation the sp was below 0.0030 converted to about 55p now 27p not looking very healthy.

http://www.moneyam.com/action/news/showArticle?id=1367581

something up here...apart from the price?

31% up on the day...wait fo the announcement....

The Company has noted the recent rise in its share price. The Company confirms
that it has received approaches from third parties that may or may not lead to
an offer for the Company.

A further announcement will be made in due course.

47% up and no ones interested...lol....

foale
Missed it what about you.

Sanctuary takeover bid
MoneyAM
Struggling UK record label Sanctuary Group announced an agreed 20p per share takeover offer.

The offer, from Centenary Music, a subsidiary of Universal Music, values the company at 44.5m.

The company said the bid represents a 77.8% premium to its closing price on May 17th, the day it announced that it was in takeover talks.

'Growth and profitability will continue to be hampered by the Sanctuary Group's present capital structure and by industry factors. Therefore, we intend to recommend this offer from Centenary,' Sanctuary chairman Robert Ayling said in a statement.

News of the bid came as Sanctuary reported a first-half pretax loss of 6.7m, down from a restated 27.1m a year earlier. However, sales of recorded music fell to 16.4m, down from 25.3m last time.

Sanctuary, home to Morrissey and Marc Almond, hit financial problems two years ago, hampered by an expensive US acquisition and delayed album releases. The group narrowly avoided bankruptcy in 2006 after tapping up shareholders for 110m.