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I very much agree. Why RNS at EOP on a Friday though? What’s the possible rationale?
Very sneaky RNS. Given they're still in an offer period and Hanson's topped up, I'd say this RNS bodes well.
Mr Hanson topping up yesterday. RNS sneaked in at the end of the day.
I would not say I'm cheerleading this one. I've offered reasonably balanced opinion in my posts but yes, for me its a buy. Biggest risk is de-listing but I can't see where the 75% would come from. For you its .... well nothing because you are not invested and you're not short. Hmmm. You only post on MMAG so do you actually invest al all?
You're right, no-one officially gets fired from any business any more. We use settlement agreements.
Because I'm interested in what happes next, that is why. I am sure you're the same. As I posted yesterday anything other than cheerleading is immediately shot down. I guess emotions are running high if you have backed a lame horse.
I am unclear how you have made the leap from my referencing of recent analysis shared into the business to me being fired but you are very wrong! I don't think anybody has ever been fired! People have grown bored and left or been promoted into new roles elsewhere and there has been redundancies over the last 12m but I didn't ever see anyone get fired.
Why don't you sell up then? Clearly not for your appetite to hang around here?
Nothing you say is factually incorrect ... although reference to 'the team' might make one think you got fired from the company.
I thought the results was going to bring an increase and brighter days? It has been gone a month now and still the price collapses.....
Through whichever lens you look this is not a positive story.
Past month - down 10%
Past 6m - down 70%
Past 12m - down 78%
Since Apr 21 - down 96%
I have no doubt I will be dismissed as a troll or naysayer but the above are all hard facts. I am often asked to be positive with my posts on this forum but I see little to cheer.
Rudderless leadership, stagnant at best performance, a failed rental experiment - nothing wrong with that, it was a brave punt that has not paid off.
Customers are holding on to devices much longer now, recent research shared with the team has proven this and strikes to the heart of the core business. The 24m cycle of upgrading no longer exists! No upgrades, means no phones to buy, means no sales!
How long will the (invested) cheerleaders persist with trying to kid others boom times are around the corner???
"These buy/sell trades are so unreliable."
Have a read of this, it explains how trade reporting works.
https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html
Could this be next on the delisting stampede?
Thank you for clearing up my misunderstanding.
Shore Capital bought the shares from punters who wished to sell, Info has been correctly presented
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?
Always go to get backlinks from reputable websites with few mentions of competitors. I believe this is the second/third article in as many months.
Pretty good write up in Which? magazine for Music Magpie when buying refurbished ipads.
https://www.which.co.uk/reviews/tablets/article/refurbished-ipad-where-to-buy-a-refurbished-ipad-and-what-you-need-to-know-a0ePg6E19Zw6
Ignore... Now they're showing. So much for 15 min delay...
Suddenly up 4%, with no trades or RNS showing... Will this show as a large, late-reported trade?
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!!
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.
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?
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.
Who bought the half million shares on Friday?
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
THG must be close running
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.