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Rise here today with interim results due Monday. They should show profits heading north of £2mil per annum.
Rise just started
Looking extremely good. News anytime
Very interesting - "sleeping stock awakes?" Next interim announcement 17/08/15 http://www.mfg.im/irhome ...
Yes and with a limited number of shares in free flow
Impressive figures , good profit last year. Update due showing more impressive figures Profits heading over £2 mil per annum.
Looks interesting - Just had a tip for these from a source I respect, bought a few.
I agree, results 17 August :-?
could see a lift off here, seems overlooked and undervalued.
I used to be indecisive but I'm not so sure now
a chance of flying from here but 8s otherwise imo ... GLA
AGM came and went and no news offered. Hopefully mfx continues to trade well and improve profits but lack of transparency and treatment of shareholders is poor.
The MMs aren't having my shares im dug in like an Alabama tit , they will have too do a lot lot better to flush this predator out
I'm not a big supporter of the directors or the way they look after there own but ask yourself what is the point of holding 27pct or 18 pct of something that does not rise in value with time and you are not on the management or the NED gravy train. Constantly improving results over time will sort out the rise in sp.
The original number of shares in issue before the directors started diluting shareholders and this is just the beginning. Massive dilution to come through warrants and convertable loans (see annual report). CEO Mr Mellon and major shareholder Mr Banks are the main beneficiaries at the the expense of shareholders who do not even receive a dividend. Probably why there are no institutions invested here as the board have such high holdings and IMO are only interested in 'fillings their boots'. DYOR but IMO this share should be top of any bargepole list.
The support appears to have gone. Without buyers its drifting.
Not sure what to do here. The loan notes should have been due for repayment on 28 March yet a decision has been taken to extend @4p conversion and 6.5%. The interest is high but not large in the scheme of the P&L. But £1.7m at 4p is I think 43m shares - quite a dilution on the now 102m issued. I'm sure our NEDs should have considered paying off these loans now.....
Seriously undervalued - The Net Asset Value and Cash in hand is almost the same as the Market Cap! and its assets and profits are growing at a nice pace. Re rating due. I'd like to see them follow the business model of other challenger banks like Aldermore who since they started 6 years now have assets of £2billion and profits of 50m. MFX are making noises along this line and their assets have gone from £60m to £120m in 2 years which isn't too shabby.
This is s key valuation measure for banks & it's still high vs other bigger,safer banks.
clearly either sleepy or a Mellon...............
Yawn
Very good results but were tainted by the news 2 weeks earlier of a very advantageous deal to directors. The interest is only 111k perannum but the disregard for shareholders in favour of a couple of bankers does irk .
Will the Directors share any of the profits with small holders evidence suggests not!
some broker coverage. If MFX were to be valued using the same metrics used to value similar businesses/rivals ( ie. 50% of assets ) they'd have a market CAP of £60million and a share price of 51p. And they've got a growing pile of cash having just added £1.7m to the £5m they are already sitting on.