Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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We did do the Maths on Rental a few months ago - It did look like it improved the ROI on a device
The caveats were being abe to control bad debt and funding the working capital
I like numbers and had to do them myself based on a user:
[USER SELLS] iPhone 14 256mb | Excellent | £426
[USER BUYS] iPhone 14 256mb | Excellent | £675
[DIFF] +£249 instant (MMAG)
[USER RENTS] iPhone 14 256mb | Excellent | £37/month | £444/annual (+£18 and MMAG still own the phone after 12 months)
[USER BUYS] iPhone 14 256mb | Good | £449 (alternative goes on rent for a further 12 months)
[DIFF] +£468 over 24 months (MMAG)
The concept looks to me to smooth the peaks and troughs of the buying and selling cycle/periods whilst having more control over inventory. For the same phone they look to 2x their revenue at the expensive of interest payments. The flip side they could have just flipped two phones rather than just one.
Our family AND FRIENDS HAVE had a few phones from here .A LWAYS GREAT SERVICE AND PRODUCT CANT FAULT
Ironic that the share price has also depreciated by 33% per annum over last 3 years
I like it Robswire :-)
Anyone know/recall what the objectives relating to the financial results to the year ending 30 November 2024 are for the exercise of these options?
https://www.lse.co.uk/rns/grant-of-options-nqy3sz35kol5o6o.html
Found it.
Page 39 of of Annual Report 2022:
https://www.musicmagpieplc.com/sites/musicmagpie/files/2023-04/musicMagpie-plc-Annual-Report-and-Accounts-2022.pdf
Page 47 of Annual Report 2023:
https://www.musicmagpieplc.com/sites/musicmagpie/files/April%2024%20Documents/musicMagpie%20plc%20Annual%20Report%20and%20Accounts%202023.pdf
That trade today wasn't me.
Highest price a year ago this coming Sunday. Next Monday onwards will see the prev. annual high dropping until it reaches c. 25p. Would like to see some movement towards a bid around that price.
Debt is way above market cap ! Bankers have a problem
2x until the share price moves.
ATM and rental have pushed to company into debt and probably one of the worst performing IPOs of the last 5 years.
Its challenges are different to that of Redeem’s so hopefully come the AGM, this SP will start turning.
They need to ditch the offer period…it brings about more questions in terms of the credibility of management and quite possibly blind expectation.
THG must be close running
Josey - you are in a spiky mood today
My understanding from the Takeover Panel is that the compnay are only allowed to stay in an offer period if conversations remain in progress. I do not see it as a choice that the company is making - infact I imagine they would happily come out of offer period if they were not engaged in conversations. So my only conclusion is that thye remain in offer period, because they are in conversatoins and therefore have no choice but to be there
Who bought the half million shares on Friday?
I’m not sure that’s quite the case Hedge but it makes sense that suitors are asking to see management progress against goals in Q1/Q2, before committing to a value.
Spikey as I see delisting as a real threat here.
As for THG, plenty of money to be made (and lost) playing that stock. At least it has a degree of ebbs and flows which enable you to play the stock. This one has pretty much been a one way street so only able to average down by scaling holding.
AGM in 25 working days. Would be brave of the board not to reveal something prior to the meeting or is that the opportunity to reveal the outcome of the last few months inactivity?
Why would delisting be a threat? I have made a few posts about MMAG in the past and have generally be correct based on logic and facts. Personally if I were the board of MMAG I would not de-list, it does not make any sense, as they would have lower liquidity for selling shares and the firm does not need to raise capital.
Here are the facts:
- Net assets: £12.3 (11.4p per share)
- MCAP: £7.2m
- Damian Hanson invested £100k in Jan/Feb, he is a business phone CEO startup.
- Price has been downward since Cannacord Genuity started selling their entire share, they have stopped selling 28th Jan. Supply and Demand has impacted us here and we have had no catalyst for a boost.
- delist requires 75% shareholder approval, management combined own 27% and according to website only 48% is in private hands (according to MMAG website). It is not in the incentive for private firms e.g. Schroders, to want to de list, as well as any other new investors.
- the most recent report stated cash is sustainable to march 2025, based on significant adverse unlikely scenarios.
- HSBC and NatWest Banks backing until 2026, with interest rates likely to fall at this point, financing expenses will definitely fall. Furthermore, given that now we will be completing less rentals, debt is likely to reduce and therefore financing expense.
- debt has increased due to more handsets for rentals, however, they are also considered assets as they have an outright sale value.
- delisting would negatively impact the employee benefit trust scheme, as employees would have difficulty selling, so imagine they would not be happy.
- gross margin has improved on tech and cost cutting measures are being implemented. The company are trying to become leaner definitely.
- sales of £136.6m is no small feat. If more investment from a new buyer can invest in efficiencies, gross margin could be improved significantly. Therefore, this could mean a profitable firm in the long run in terms of net margin.
- so the minimum i would expect (this is based on various assumptions) NAV + rental assets as debt and reduced finance (£7m) brand name and sales channel (£15m) inc Walmart, Asda, Declutrr. Circa £35m so around £0.325 per share.
This is my opinion only.
Mike....it was just the only real threat I saw to the money I have invested. I have previously stated the whole 75% rule etc. Ditto for an MBO to happen they need to secure approval so they and any finance partners would need to be securing votes/buying them.
25% off all their kit on Ebay today to if any of you want some phones etc, fill your boots!!
Suddenly up 4%, with no trades or RNS showing... Will this show as a large, late-reported trade?
Ignore... Now they're showing. So much for 15 min delay...
These buy/sell trades are so unreliable. Yesterdays two batches of 2k were buys not sells on behalf of Shore Capital. Anywhere else more reliable?
Shore Capital bought the shares from punters who wished to sell, Info has been correctly presented
Thank you for clearing up my misunderstanding.