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Hi SB.......Well yes Mrs Hucks is a happy Huck, she bought in with SJL at 6p. all our HL accounts have been updated with a 69% buy back by MMX.........i think we will all be in that very particular same boat, MMX clearly want cash for something, a look up their sleeve would be interesting. I am looking for places to invest that might be more fruitful than here, in theory at least that should not be too hard....IAG , Burberry, possibbly CNIC, IHG maybe, they all have a history of Divi's also having a look at IGG .........................best Huckster
Hucks - a long time ago in a galaxy far away I looked at mmx and cnic as potential investments - and we know how that particular episode is ending! I have continued to watch cnic acquire, fundraise, integrate, grow, hire - and create what is now becoming a business with scale - and few direct competitors. Yes they appear to be heavily reliant on advertising but they do appear to have a plan and are delivering decent numbers and as you noted are being followed by some decent investment advisors with high expectations. If they continue….who knows if they will remain independent or get taken out - either way it could be an interesting 2/3 years ahead. I will probably continue to buy at the current price. Interesting comment on Mrs Hucks shares - was her account updated to remove 69%. SB
My misses tried to sell all her holding at the 9.6p and only sold 69%, that looks like it Huckster
Sb, do you think cnic is a candidate for consolidation?, the target price on them has just risen from 180.00 to 200.00 do you think anything like that is doable, don't want to chase the market H
Cheers Hucks - as you noted previously the reality is whether we tender 100% or 69% the outcome is likely to be c.69% given you would think the majority will take the 9.6p on offer - so looks like we are here for a bit yet! Touch of irony - the payout will be almost a year to the day since the RNS highlighting the revenue treatment problems surfaced - which drove the already subdued price sub 5p. I will keep an eye on shell - I took a small holding in CNIC despite a promise to myself to stay away from domain stocks! Its up 30%......SB
Yes SB, that makes sense, Turcan will have a plan, it must be one or the other. at the last minute I changed my instruction to a 69% take up of the tender offer, God knows why, suppose I was thinking if there is no rto I should still get close to 9.6p it just means waiting, if there is an rto i still have a holding of over 1M which may result in a little upside, worth a punt. Many congrats on your 15% the risk you took to get your buy price down paid off well done. as you say money in the bank Huckster
Hucks - tender offer close at 1pm today. We will know result on Monday 4th. Turcan is the only director who stated he would not be tendering shares over his 69% entitlement - so my bet would be IF anything happens on the RTO front it would be driven by Lombard. It will be interesting to see what happens post tender outcome and whether Turcan (or others) continue to purchase either for a 10% profit based on a 9.6p payout or a cash shell play. 15% profit on 2/3 of my shares after 10 years. Not the greatest.......but I've hard worse! Money in the bank w/c 11th October. SB
Mr Turcan has bought just prior to to TO deadline at noon today, this is undoubtedly significant, but hard to know to what end Huckster
Hmmmm....interesting indeed! SJL won't be buying again he has a handful of shares already, If there were absolutely no chance of an MMX2 we could possibly have heard from SJL, his comments would very likely have been less than complimentary.
So the consideration is whether Turcan is trying to make a quick buck by buying at 8.8p and taking up the TO at 9.6p OR he knows something we don't, that's the question for which i have no answer. Huckster
sjl wouldnt be buying more hes got too many as it is
Turcan's mob buying again.... interesting given this late stage in the game.Wonder if it signifies anything for MMX2. Could do with a notification that SJL has bought a load more....that would be a great clue for us lol.
Cheers
Ezzza
I think all the holders will sell some otherwise their holdings will be too big if we rto
SB..............hmmm............. we will have to see what happens, i imagine all the II's will try to sell all shares in the TO,, but I can see Hony having a face like a bulldog chewing a wasp with a buying price of 13p! they could pass, hoping for a successful cash shell play, my advice would be to sell and buy RDSA as soon as possible, I have had them for a few months and am seeing a spot of upside. Best to all Huckster
Hard to disagree with your logic or predictions Hucks! On the plus side according to the RNS originally issued yesterday by a certain Mr Toby Hall and Mr Michaels Salazar......details, details.....the company has slashed its costs, is closing down its loss making subsidiaries, has $10m+ in the bank and generated almost $4m ebitda in H1 2021....and with all those positives decided to sell itself to the only bidder in town....! Probably for the best. Fingers crossed one of our large holders forgets to tender their shares! SB
Well Harry, best of luck with your choice to accept the TO. I sold 100% yesterday at 8.85p and have rolled proceeds into CMC Markets shares which are currently well down due to lower market volatility. It's all a risk but didn't want the 31% sitting in an uncertain limbo for months whilst I could at least hope for a higher return in another share. Too much uncertainty post-TO. GL all LT holders
I have just taken up the tender offer. My view is somewhat tainted by the past 7-8 difficult years with this stock and the lack of any dividend payment and no small amount of incompetence by successive CEO's. I think the tender offer is quite likely to be oversubscribed thus it is likely we will be able to sell a maximum of 69% of our shares as the company has undertaken that percentage @9.6p.................so personally I feel many of us will be left with 31% of our holding post tender offer. Beyond the tender offer things are tricky........my view is that the market will be happy to see the price drift a little but if the cash shell play does not happen the company will payout as per the NAV which should be close to 9.6p say around 9p, if the company can pull off an RTO with a successful little hi tech company and that is a big if, you may see shares rising by 2-4p probably as a peak, peaks are notoriously hard to hit!
Me? I will try to sell all @ 9.6p (unlikely to work in reality) and put a chunk into RR, AIG and RDSA Good luck to all.............. Harry Huckster
Be interesting to see if all big holders went for 69%
I would also expect the shares you 'tender' will disappear from your holdings before end of week; payment is due 11th October together with the return of any unsold shares. SB
The formal closing date is 1pm on Friday 1st October. However, in order to process tender applications through crest by the 1st Oct brokers will set earlier deadlines; Interactive Investors for instance requires a response by 11.59pm tonight - others may already have closed applications. We will know on Monday 4th Oct the outcome - and how many shares above 69% were purchased (or not if the offer was fully subscribed) if that is what you elected to do. SB
Was = wasnt
Was the cut off end of yesterday?
I'm not really an active investor. I've been holding these since day 1 (originally a share tip from a reputable magazine - target price 41p - haha!). I've opted for 67% ish (will maybe change to 100%). I'm unsure of what the future will hold for MMX post tender. I'm relying on info on this board andI'm looking forward to views from others. Thanks for all of the knowledgeable opinion and thoughts in the past.
I’ve gone two thirds, waited this long can’t take it all out now! Couldn’t live with myself if I did and the RTO went boom.
You got me thinking now
kitkateat - in the spirit of being open I have tendered my entire holding in both trading and ISA accounts - I don't expect to be able to sell 100%, but hoping I might be able to sell a bit more than the 69% guaranteed at 9.6p. Based on the current share price I cannot sell any decent volume for more than 8.8p so being able to get a decent volume out at 9.6p works for me. The markets are a bit volatile - and I would not be surprised to see a bit of price drift post the capital return anyway prior to the next stage whether that be an RTO or a final payout. IF I should be lucky enough to sell 100%, I will more than likely reinvest; with the realistic outcome I will remain a holder anyway and see what comes next - I don't see much risk here. ATB SB