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Resources analyst Charlie Long sees good times ahead for uranium Watch here

Resources analyst Charlie Long sees good times ahead for uranium


Magnolia Pet Share Chat (MAGP)



Share Price: 0.10Bid: 0.09Ask: 0.11Change: 0.00 (0.00%)No Movement on Magnolia Pet
Spread: 0.02Spread as %: 22.22%Open: 0.115High: 0.115Low: 0.10Yesterday’s Close: 0.10


Share Discussion for Magnolia Pet


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Strider4
Posts: 1,318
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Price:0.10
Red corner
Today 14:31
A few stand-out points from some very good discussion in the last couple of days:

1) Snead sold his 10% stake in the company at 0.06p. As 10% is a minority stake, this valuation cannot be extrapolated to the remaining 90%.
2) The split appears to be acrimonious - is there the possibility that Snead has done this to stick the finger up at the BOD? I imagine that getting £200k or the £125k that he got, doesn't make a great deal of difference to him.
3) Snead would have been unlikely to get more than 0.06p for his stake in the open market anyway. It is clear he wants nothing further to do with the company, and it may be out of respect for his previous contribution to the company, and professionalism, that no details have been released to the market.
4) If NTOG has a real interest in the company, they will have to start paying a good deal more than 0.06p to accumulate more. Any further interest from them could be extremely positive for the share price.
5) Now is the time for Rita to steady the ship and comment on recent events and the company strategy going forward under the reshaped BOD.
 
okenia
Posts: 8,628
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Price:0.10
RE: RFW
Today 13:33
The most positive viewpoint is that NTOG think MAGP is a good play and they've been able to negotiate a decent stake for themselves by exploiting the departing CEO's desire to exit his position, thus giving them a good "in" price. And that they'll hold for a reasonable period of time.

Since Snead clearly wants to sell his stock it may be better for MAGP for NTOG to be holding that, as opposed to Snead dumping his stock on the secondary market (compete with a slew of 10%, 9%, 8%, 7% etc TR1s to reinforce the overhang being worked). The worse case scenario would have been if Snead aggressively dumped his MAGP stock (for whatever personal reasons, I can't speculate) which would have been very nasty for the MAGP SP if there is a visible forced seller in the market. At least now that has been averted and the stock is in the hands of someone else.

Whether that ends up being "out of the frying pan, into the fire" we shall see.
bakoven
Posts: 3,911
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Price:0.10
RE: RFW
Today 11:31
Having slept on it, I take the view that Mr Ten Percent is likely to offload his windfall stock in tranches within 24 months. Unless he has changed his m-o that's how he has operated in the past. Hope I am wrong . . ..

The process could impact the SP.
Rita will have to handle this new thorn as best as she can.
As oilmagnet notes, I would like to see an all-embracing "strategic statement".
Guidedog7
Posts: 1,063
Question
Opinion:No Opinion
Price:0.10
Donald Trump's proposal to sell
Today 11:24
http://www.msn.com/en-gb/money/news/opec-not-concerned-by-donald-trumps-proposal-to-sell-us-strategic-petroleum-reserves/ar-BBBy5oB?ocid=spartanntp

Perhaps this is what made SOS rethink ??

I think all of this caught our BOD out and they will have a rethink Monday and tell the market when we gat back Tuesday .

WHAT WILL FRANK SAY NOW????

The other thing is who owns Broken Arrow HQ as I thought it was part for SOS EMPIRE !!!! AWKWARD :-(
okenia
Posts: 8,628
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RE: RFW
Today 10:21
I agree that there seems to be a certain degree of "messaging" around how this was done.

NTOG released an RNS under their own ticker at 1:15pm on Friday stating that they had bought a 10% stake in MAGP. Formally speaking that is a material holding for them and as such they were obliged to inform the market without delay, which they did. That's fine, and it's right for them to issue their own RNS because it is a material transaction for NTOG (irrespective of whether there are DTR substantial shareholder disclosures to be made).

As a 10% shareholder they are also required by the DTR rules to tell MAGP that they have got a substantial shareholding. It is then up to MAGP as to how they disclose that to the market - either by their own RNS, or perhaps simply by thinking that since NTOG have already done so then they don't need to. At the very least it would be good practice for MAGP to release a notification under its own RNS ticker to assist its own shareholders. Did NTOG tell MAGP directly, or did they simply release their RNS and let them find it? Formally speaking it could be argued that NTOG has informed the market of its stake and has discharged its DTR obligations, so maybe MAGP feels it doesn't have to issue an RNS. We shall see on that front next week.

"Should" NTOG have waited until MAGP issued an RNS before it informed the market? No, strictly speaking. The obligation is on NTOG (as a listed company) to inform the market without delay of price-sensitive information like a major transaction. "Could" they have coordinated with MAGP if they had wanted to, in order to get back-to-back RNSes released? Oh I'm sure they "could" have, had they wanted to. That this didn't happen is probably significant.

What does surprise me is that we didn't get a separate RNS from MAGP the same day - there was another 5 hours of RNS feed that day they could have used, even if it was for a quick "The Company notes the RNS released earlier today by NTOG regarding ..." sort of thing. That might be as trivial as a staff absence and being caught unawares - we shall see next week if there is an RNS on Tuesday morning. It certainly does feel like MAGP were caught on the hop though and didn't know anything about the purchase until the RNS landed at 1:15pm. If they were not informed directly by NTOG (e.g. by email) then one can see circumstances where they might have missed it at the time of release.

All very interesting and you could read a lot into this, if you were so minded. The next step for me is whether there is a RNS from MAGP on Tuesday.
oilmagnet477
Posts: 6,270
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RE: RFW
Today 00:18
All this does is add fuel to a fire that Magp didnt need. There could have been many reasons for SOS to leave that wouldn't necessarily have spelt bad news - indeed, it was initially indicated that he would remain a shareholder.

For him to have sold his holding at such a massive discount (although I totally agree that such a big chunk would have been difficult to shift at any higher price than 0.06p) for me smells bad. I'm truly sorry to say that it exposes a rift within the BoD that must have lead to his departure. If not, surely to God, Rita and co would have done what they could to buy him out at a modest premium to the relatively paltry sum of £125k. To not have arrived at a deal, or if Rita was blind sided, not even sought one, has to indicate a major breakdown in the relationship.

I sincerely hope that this is a mere blip and given the freedom to move in the direction that she sees fit, Rita can now take the company forward. I have said before that she is long overdue releasing a strategic statement about the future of the company. Like never before, that time has come.

I sincerely wish everyone here all the best. Investing is difficult enough on AIM without this kind of crap.

GLA
discopablo
Posts: 2,568
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View Thread (2)
RE: RFW
Sat 23:21
Your first point is very good Baks. I had not clocked that it was published by NTOG rather than by MAGP.

Of course with the holding being above 3% they must let the market know but surely they should report to us and let our Bod then release the news in our own way.

This might sound like splitting hairs but actually the wording can be very important as you have yourself pointed out and don't really need me to comment further.

The use of the word acquisition for example - it is clearly phrased in a manner to try to benefit the sp of NTOG rather than MAGP - I mean the whole script is really!!

I can't see RFW being anything other than furious with the way this has been reported. I certainly don't see NTOG as having significant influence at all on MAGP either however. 10% simply isn't enough. She will continue in the same manner of the last few months I'm sure.

Happy to hold.

All the best
bakoven
Posts: 3,911
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View Thread (4)
RFW
Sat 20:42
Unless I am out of line no one has commented about a third party putting up an announcement on MAGP's domain. It seems to be outside the stock exchange remit as the door could be opened to similar actions.

Was RFW aware of the disclosure prior to publication or did she first learn about it when turning on her computer in Broken Arrow on Friday morning? Possibly the latter, and she would have been as furious as the cobra and puffadder that I used to take through to Kommetjie snake farm.

I have watched ML at work since 2011, and avoid any off-key remarks. How SOS could have contemplated this step is beyond understanding. He has always, until very recently, been a reassuring presence. Even with a theorised board fallout he should/would have maintained the company-comes-first attitude. The disbursement of his stock might have followed causes unstated, such as a sudden health reversal.

ML has historically been a wheeler-dealer type. Maybe he has changed, but I remember giving him the title, Mr Ten Percent. And that coincidentally appears to be his stake here. He is not an Oklahoman, and RFW in my book should be allowed unfettered continuation of her programme. Any interference by a foreigner, if indeed that is to be the intention somewhere down the track, is just not on. Her drilling participation progress is taking the company in the right direction.

ML is nothing more than a shareholder -- admittedly a big one -- like the rest of us. The use of the word "acquisition" should never have been permitted.

I am in the red corner.
okenia
Posts: 8,628
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Opinion:No Opinion
Price:0.10
RE: WHY
Sat 17:52
It'll be interesting to see if this is just NTOG picking up shares in a company they like on the cheap (possible) or else whether it's the start of some corporate wheeler-dealing. Certainly wouldn't bet against that given the past track record of NTOG. Interesting times!
okenia
Posts: 8,628
Off Topic
Opinion:No Opinion
Price:0.10
RE: WHY
Sat 17:51
No worries. Good luck to you too.




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