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Whether BT or someone else tables a bid it should be 30p or more.
Schroder has ceased selling for a while now which is strange considering the liqudity is there. Perhaps they've caught wind of good news either on the trading front or the acquistion front. Good news on either front takes this back over 20p.
It could simply be overhang in the MM network from Cannacord's sell off. No RNS for while would certainly indicate Shroders have stopped. Does not mean they have seen good news but the management could of had a call with their larger investor.
I can't speak at all for Music Magpie but I know one couple of their competitors and industry peers are fairing very well at the moment. Concern is about supply for 2024. Across all tech secondary/ITAD space it's looking quite strong after a tough 22/H123.
500,000 in trades late afternoon including a 350,00 at just under 9.50p. all buys from the looks of it.
Maybe 9p is the floor for them to be selling at. but they didn't seel today or did they? mmm maybe they waiting for the price to rise to 11-12p.
Big buys today and it looks like news is coming...should see 10p plus tomorrow
This is now too cheap
We bounced to 10p a week or so ago then it went back down. so no guarantees it will continue up from 10p. if not i would like to add more over the coming months if the sp is still down at these lows.
Another day closer to a bid. Adding some more under 10p.
Today?
I only see 3 100k trades at 10p. these are sells? bid now 9.7p
Aggressive buying continues whilst the selling is over. Let's see this back to 20p.
381k buy spotted. what a whopper that was.
Wouldn't be surprised if Hanson's got his cheque book (gosh that sounds old skool) out again. I wonder what value he's aiming to buy? He's already holding more than the rest of the c-suite except the ceo.
The difference being he’s in at 10p a share. £150k ish for over 1.5%…not a lot of money really. Cannacord left for a reason so I still fancy this will go for a delisting.
What happens to shares if it were to delist?
Hypothetical: BT table an offer for 35p. The board accept, the vote passes then the shares delist and you eventually recieve 35p for each share you have once the process is completed. The company ceases trading on the stock market and you can no longer trade securities in MMAG.
You need 75% shareholder approval to delist. So management and largest holders would need to be on the same page. Based on trailing averages and the like, it’s hard to say but maybe 18-22p would do it, maybe less. It’s just ensuring the support threshold. There are some rules around the price those who do not roll in get. I’m not clear on it all.
I've reached out to Mr Hanson but not had any reply back yet. I want to increase my holding here on any weakness (funds permitting). I have a huge amount of relevant experience in some of the space that MMAG are in. You could say they are a competitor of mine.
Interesting….no doubt we know each other!!
Josey, why does it matter what price Damien paid for the stock vs the price paid by any of the board? Surely it's number of shares that count, right? If Damien bought 12m albeit at a cheap price, he'd still hold more than the CEO..
My point was 150k is not a lot of cash to part with. Could simply be a punt on some gossip he’s heard locally.
Ok, yep agreed. Thanks Josey
SP looks way undervalued here. I’m going in!
Have you gone in yet as no trade is showing, just intrigued.
New to LSE and a Q for MMAG shareholders, am I right in thinking that a disclosure of a significant shareholder isn't needed unless over 3% of shares are held?
1%