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Manx Financial Share Chat (MFX)



Share Price: 9.00Bid: 8.50Ask: 9.50Change: 0.00 (0.00%)No Movement on Manx Financial
Spread: 1.00Spread as %: 11.76%Open: 9.00High: 9.00Low: 9.00Yesterday’s Close: 9.00


Share Discussion for Manx Financial


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jollyspeculator
Posts: 20,426
Off Topic
Opinion:Sell
Price:9.00
perhaps
Today 00:03
but mfx has its challenging capital structure
 
Korg
Posts: 2,346
Off Topic
Opinion:No Opinion
Price:9.00
banks
Wed 20:37
Times are changing for banks. Tipped to rocket after brexit.
jollyspeculator
Posts: 20,426
Off Topic
Opinion:No Opinion
Price:9.125
certainly has
18 May '16
perked up the sp lol
FredRubble
Posts: 655
Observation
Opinion:No Opinion
Price:9.125
RE: jolly
18 May '16
Korg, I binned him last week but as you say his presence here as demonstrated is good news for the SP.
jollyspeculator
Posts: 20,426
Off Topic
Opinion:Strong Sell
Price:8.75
ha ha korg
17 May '16
usually true..but mfx is exceptional...

I am intrigued by the rationale by which the independent directors recommended continued use of convertibles? Why cannot Jim align himself with PIs..just own shares, nothing else.? Pretty simple stuff, Jim..would you Jim invest where someone else had your privileged position? If not, why shd I?

5th Feb 2015, I think..extract from rns: "The Group is pleased to announce the extension for a further five years of two outstanding Convertible Loan Notes ("Notes") that were otherwise due for repayment on 28 March 2015. The extension of the Notes, together totalling £1.71 million, of which Jim Mellon, the Group's Executive Chairman, holds £1.25 million and Rock Holdings Limited, a company connected with John Banks, a non-executive Director of the Group, holds £460,000, further demonstrates the continuing support of the Group's two principal shareholders.

The independent Directors (being all the Directors with the exception of James Mellon and John Banks), have been carefully considering the most suitable method of securing the Regulatory Capital required by the Group's banking subsidiary, Conister Bank Limited ("Conister"), both to maintain and continue the excellent growth experienced over the last three years and to take advantage of further lending opportunities. Although Conister enjoys high levels of liquidity from customers' deposits, this liquidity must be underpinned by its own separate capital on the basis of a ratio as directed under the Isle of Man banking licence. As a result, and having considered other methods of raising capital, the independent Directors have resolved, following negotiations with the lenders, to extend the two Notes for a further five years to 26 February 2020 at a reduced interest rate of 6.5%, down from the previous 9.0%. All other terms remain as those announced on 2 March 2010.
Korg
Posts: 2,346
Off Topic
Opinion:No Opinion
Price:8.75
jolly
16 May '16
Ah, I see jolly is hovering. MUST be value here after all. Wait for the next update, I can see more profit, the market needs to concentrate on profit imo.
jollyspeculator
Posts: 20,426
Off Topic
Opinion:Strong Sell
Price:8.75
seagull
12 May '16
spot on & much worse: what is stopping endless rounds of convertibles and/or warrants in the future??
jollyspeculator
Posts: 20,426
Off Topic
Opinion:Strong Sell
Price:8.75
nonsense
11 May '16
fred..as usual, dear
Korg
Posts: 2,346
Off Topic
Opinion:No Opinion
Price:8.625
wow
13 Apr '16
director buying shares. How do they ALWAYS manage to buy at the lowest point? Well lets see if they have any more good news that can be sold in to before it reaches true valuation of 20+p

Some good news in the agm, divis, special divi?
FredRubble
Posts: 655
Research
Opinion:No Opinion
Price:9.50
seagull
25 Mar '16
IMO the SP should be around 14p even after using a fully diluted (including all warrants and loans) 200m for the number of shares, using 2015 profit of £2.3m and a market sector average of 13. But as always please Do Your Own Research ("DYOR") and please check my calculations.
Something else worth considering is that the Directors may of course wish to defer the date of maturity on the loans with a reduced rate of interest as JM and SR did on 26 February 2015 but again please DYOR.




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