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The closing balance landed in my II account today.
Yeah agreed. I don't know why they just don't increase the ask to say 9p to encourage early sellers, so that they don't then have to pay full ask at 9.07. You can see them mopping up big blocks of shares every few days to do just that.
I understood that if approved on the 10th Dec, then cheques will be disbursed on the 26th December - right after Turkey dinner and crackers, obviously...
To be honest I've been trying to do the same with my small 1k holding. I've tried to sell at ranges between 8.7-9p just to get my cash so I can invest it elsewhere. If I had managed to sell I'd have made much more as was planning on putting it in PLTR & SOFI. Looks like I'll have to wait, hope it doesn't take ages for the cash to land in my account
Odd how Rathbones sold 1.4m at 8.7p yesterday, and couldn't wait for 9.07p in a few weeks' time. That sell cost them £5k. Expected more from a FI institution - that they would have made every fractional penny they could. Clearly needed it elsewhere.
Wonder what announcement now
Started: falling_knife, 5 Nov 2024 12:06
Last post: Swanley, 14 Nov 2024
Pending response from provider... They said it would now be 'best endeavours' to meet the timelines.
Sorry to hear that. Did you manage to conclude that your votes will be posted? Oddo BHF AIF PLC
Total disaster by my provider - they didn't have a clue about the need to send the proxy voting forms to me until I chased them. Their response was that they were aware of the T/O and that they'd communicate the scheme dates when they had them. Nothing further till I chased yesterday and pointed out the dates when this information had already been provided.
Had to instruct them by email in the end. Pile of Sh*te.
My ballot has been returned.
I was asking the same thing , similiar postion. Feels wrong not to vote.
Hi BillyBamboozle - I'm still LONG on XPF
I've tried to stay clear of LSE forum - its a cesspit and not much good to be had from it.
I recently experienced a Boom Battle Bar for the 1st tme and thoroughly enjoyed the experience (Chelmsford) as did my partner who went to one on Bath on a girls night out.
They have a bank facility now which will help them grow and manage liquidity
I was a little concerned about what the new Labour budget might do - but having done the maths, i do not beleive it will be that harmful.
Still seeing great things on LinkedIn - they have a Priceless asses in some of their people
Looking forward to seeing how the Xmas period goes for them - they have been building momentum since the start of the year and I expect them to acheive record numbers. Its all abot acheiving scale now
Anyone elase having issues registering their proxy vote, my control number isn't working?
https://central.proxyvote.com/pv/web
Why is there a court hearing the sanction the scheme?
Anything to say about XPF, HedgeHogarth? Been a long time since you posted there……
12.05 here too.
Who's this person with 8.3 notification?
How and when is the voting taken place?
They are the ones that have driven the share price down. No-one to blame but the BoD.
There was plenty of time over the last few years to turn the company around
Don't feel sorry for the BOD, they've probably made a lot more money than you think?
I think overall this wasnt a terrible outcome. okay 10m is far below the 20-30-40p price range but its much better then 0. this was always a high risk high reward play. could have made 3-4x or could have lost it all. luckily for me ive still made a very small profit but overall ive lost due to the opportunity cost of holding this for a year. sad story for steve and the co founders, built this business from 2007, invested hundreds of thousands in at much higher prices and now reluctantly selling his baby for pennies which likely was the best option
It’s a slam dunk at 51%
The firing squad already has 30 staff to fire
I'd say you're right TYLO. Buried themselves with that ATM/Rental expense nonsense and they've got too many recent competitive entrants to deal with on another front. It's a forced sale ... the alternative was likely to be something far more sinister in 2025 when the cash would have run dry. If 9p (and don't forget that's more like 20-25m with the debt) was the best attainable ... then so be it.
It's got 54% approval so should easily get the shares for the other 21%.
I still think this was just another over inflated AIM pipe dream that made a lot of money for financial institutions and directors at the IPO. JMO Adyor!
Idk feels like a sad ending to me. alot of the management and bod are invested in this at much higher prices, employees being let go etc. i dont think this was just another AIMs scam, seems more like the brutal world of business.
This company seems to be getting sold for less than the net asset value.
Have the board taken the approach rather than strating with a top valuation that BT walked away from to start with a solid "low-ball" base offer to strike interest/better offer.
Or is the deal, the deal?
5% is not a great return for the potential risk.
Need to understand what Hargreaves opinion is on all this also....feel like there are still games to be played here and management are trying to push their most favourable option with the cover of what's best for employees etc....
That money can do a lot in 3 months ... a lot of opportunity out there to eclipse that return. I sold everything bar 100k 'just in case'!
5% for doing nothing isn't a bad idea. I'm surprised someone sold 2 million shares at 8.6p when in 3 months time they'd have got 9.07p🤔
Why did Oddo BHF AIF PLC purchase just under 2% of the company yesterday, to make 5%?
Or, are they speculating for a better offer?
The whole enterprise has just been yet another AIM Scam so it seems? Promote some mediocre outfit with the backing of big city institutions to max out an IPO, and then allow the wheels to come off and fleece investors it seems. A lucky few have made a good return since this went down to 5p. Glad I got an average just below the offer but it was just a punt as it is with all AIM stocks these days. BEWARE AIM, it's full of scam companies seems to be the message 🤔? JMO Adyor!!!
Not quite the double bubble I expected or posted about but good for anyone who got in sub 6... sorry for the long term holders here... the management have let you down big time
Started: Redh3rring, 2 Oct 2024 08:38
Last post: eviking, 2 Oct 2024
Money man agtee
It appears to be just another AIM scam guys...beware AIM you'll get burned 🔥 JMO Adyor
30 Head Office staff are getting the boot whilst the directors stay on board
Is this deal as water tight as it can be, what shareholder percentage is required to accept the offer?
Pleased for those who have done well from the deal but there can't be many. 9p is a far cry from the promised uplands of 20p-30p that was promised so many times on here!
But the real losers are of courese the employees. As they always are. The workforce will be cut to the bone and will not see any of the loot the directors will receive, even if that is way below what would have been expected 3 or 4 years ago.
Well the company is worth what people are prepared to pay for it. Unfortunately for some, 10m was the number. More than what Mazuma and Gazelle went for. I think AO will very quickly work out they can't manage it in-house and sub the work out to MTR or similar. Ebay slashing private sale fees to zero will also have a decent size impact on all web based trade-in activity. Will turn out to be a timely exit I think.
Had a small punt over the summer average just under 9p but I thought 10p would be the take out price once is was walked down to 5p as I said in early July, but as we know AIM is corrupt and out of the oversight of the FCA it seems especially when IPO valuations are done by dodgy financial institutions? .. therefore management can apparently do what they like on AIM..it's a very risky market and getting worse for SCAM companies to rip of private investors it seems. JMO Adyor..!!!
I'm not in this, but just saw it's on the rise, looked at the offer rns, and can't understand how the offer is lower than the 52 week high of 52 Week High 25.25 52 Week High Date 20-Nov-2023 ? What am I missing?
Started: HedgeHogarth, 5 Jul 2024 08:34
Last post: moniman, 2 Oct 2024
Too many dreamers here hoping for gold...
Here is my post 5th July..
"There would be no legal challenge to a low ball MBO imho. The FCA or anyone else for that matter couldn't investigate the contents of a paper bag. All AIM directors are immune from any wrong doing, it's one of the reasons for listing on AIM. As with the Tories corruption is rife in the City just like the Tories betting on the result of elections. 10p is my best guess at a takeover or buyout. JMO Adyor!"
There is a persistent negative angle to so many posts on here - its not a fair reflection in my opinion
MMAG is a decent compnay run by decent people - many of the shareholders have an affiliation to the company.I recognise that the strike price will not be anywhere near the price at which many of those holders hold as an average; i do not see insiders wanting to shaft shareholders, especiially the 9% employee holding
There would be no legal challenge to a low ball MBO imho. The FCA or anyone else for that matter couldn't investigate the contents of a paper bag. All AIM directors are immune from any wrong doing, it's one of the reasons for listing on AIM. As with the Tories corruption is rife in the City just like the Tories betting on the result of elections. 10p is my best guess at a takeover or buyout. JMO Adyor!
Whilst I don't think things will happen before day 250 ... I think they will come September before entering Q4. If it's an MBO they want to get in at the worst 'climate' and not when falling rates become a reality and reports of increased consumer confidence start appearing.
I also think that if it is an MBO and they drag it out too long, holders who are not happy with the end price exit might have recourse to a legal challenge against the directors claiming that the officers of the company were not running the company to it's best interests during the 'takeover code' period.
That's how many day's we have been in an offer period.
New Dawn, New Government....brighter days ahead?
I'm going to take a punt that a deal is announced before 250 (Pure guess - but an educated one given recent activity).
I plan to make one more top-up if we are still sub 10p at the end of July.
Started: falling_knife, 2 Oct 2024 09:54
Last post: falling_knife, 2 Oct 2024
Not been in this situation before..normally sell shares via usual process. with a takeover... "how do we get paid" ?
Shame will be at a loss :-(
Directors staying on. They are generously sacking 30 head office staff.
NEDS leaving as no use to man nor beast
Not enough lifeboats for those in steerage
Good riddance to an AIM disaster story
At least the banks have finally got their own way
The offer is a bit stingy to say the least. My average is 8 so at least I will make something but not much, probably the least I have made on a company being taken over.
Terrible offer, what will happen to the current directors offered new roles or are they leaving ?
Started: red0liv3, 23 Sep 2024 14:39
Last post: Morbox, 2 Oct 2024
Just checked my portfolio, lucky I averaged down in May to 11p so a loss, but it could have been worse. First bought Jan 2023 at 38p but traded these for sometime.
Still, it’s cr@p for most holders.
Not going to sell this morning, maybe a secondary offer will come in but a doubt it.
Great deal for AO. It takes MMAG away from eBay whose changes announced yesterday will hurt businesses on their platform. Disappointed it’s not over 10 but hey Ho.
More than 10 trades in a day ... and none from the MM. Times are changing?
Musicmagpie website has taken a huge leap forward in terms of speed/load performance. Anyone have any past benchmarks to compare against. Now pages load almost before I click a link. There is a direct coerelation with ecommerce site speed stats between conversion rate and the time it takes a site to load. See link points 16 onwards in particular.
https://queue-it.com/blog/ecommerce-website-speed-statistics/
Started: red0liv3, 19 Sep 2024 10:13
Last post: EG777, 20 Sep 2024
Is EcoRenew not linked to that big insurance fraud thing... it looked like Mazuma/Eco was a front to legitimise some of the monies... a lot of funds came from Virgin islands... a short investigation away from some prison time for the MD perhaps - so a sale to them might not be favorable. All speculation of course.
Bamboo profit after tax last year was £4m and has £20m+ in shareholders funds, so profiting for a while, maybe not quite big enough to consume Maggers but big enough to get funding for it...
John Lam was the founder of Mazuma Mobile and ran the company until 2018 until they were taken over by EcoRenew along with ICT Reverse. ICT Reverse MD subsequently took over the MD post at Mazuma, and John Lam left the company to become head of buyback at Bamboo Distribution who are a recycler/distributor with a focus on fulfilling insurance requirements.
Presumably a connection between the 2 companies was what was being hinted at by the post. Personally I would have thought that any potential buyers would be larger outfits than Bamboo.
Unfamiliar with Jon Lam / Bamboo. Your expecting a price of?
Very much doubt Jon Lam's experience at Mazuma will be lending itself to Bamboo considering MMAG! Management take this private or accept £12-14m (debt free) ... nought else on the table after this amount of time.
Report out recently saying refurb mobile pricing is up 6%. Problem is supply and on that front MMAG should be in reasonable shape.
I feel like your intermating something and the penny hasn't dropped?
You did note in Jan 24 that CEO’s daughter held a senior IT role …….. ?
Very possible and fair.
It will be interesting to see if a high profile role such as Tech Chief is replaced or if it is left vacant.
Preparing the company to be lean as possible so that it can be easily migrated into a company that acquires them?
There are a number of roles at risk at MM HQ. The Technology chief has left and others further down pecking order are following him through the door.
I have a small holding here and whilst I am positive about the industry , this company needs to get back to basics to appease the banks, simply by generating strong, profitable cash flows and reducing its debt.
I think they realise rental is a mistake, too much risk for too little reward and whilst they confirm a higher grade of customer credit rating in their portfolio will reduce defaults, that's all well ang
I am of the view there is a risk this is taken private.
Started: PhillyaBoots, 3 Sep 2024 12:43
Last post: PhillyaBoots, 3 Sep 2024
Locked and loaded for my double bubble
Last post: MrMagorium, 28 Aug 2024
Can't see BOD recommending any offers based on how low the SP is and surely any agreements would have to secure their futures in the new entity.
Having talks this long has lost shareholders a fortune, any interested party has clearly been kicking the tyres for too long.
Time to walk away I think and get back to their basic business model of buying gear for pence off the deprived and selling it for a profit.
What's their motto? Good for the planet, Good for your pockets.
DYOR, AIMHO, GL to all my fellow vampiric capitalists.
Said some time ago it will be September earliest. To hell with it, why not go for 12 months under the takeover code and claim some kind of record for the length of period idle chat can be presented as 'serious and productive' to the panel ... oh and of course the mountain of pointless RNSs.
It's all fun and waiting ... potential of 15-18p or 3-5p.
Hedge, I'm not in your gang ... thoughts are aligned but I'd be more a-tuned to this plus two other companies to seriously create something in multiple product categories and territories taking back stuff from consumer households.
Well from 100p to 6p currently. A few people starting to take interest as markets recover. Yesterday showed that there was not a lot of stock available because as a few buyers came in it when NT
Started: MrMagorium, 22 Aug 2024 12:20
Last post: MrMagorium, 23 Aug 2024
No MikePickle, you are incorrect on both claims. I had difficulty buying a decent amount and not selling a holding.
To me that suggests the opposite of what you claim. If the MM will take a huge chunk in one go, it suggests there is demand but not enough supply.
That to me signals when people are buying these at the current price, they are landing into sticky hands, hence why only small volumes are going through.
There are small sells going through at the current bid of 5p. But I could offload a chunk at 5.4p yesterday. This suggests to me, something odd appears to be going on...
The share price and volume is low because people there’s low demand for the stock at its current price.
Your claim is that you were easily able to buy at least 1.6% of the company earlier? It sounds like a very bad sign that there was that many shares available at the market price. Shows a real lack of faith from shareholders to me
Possibly insider knowledge. Tomorrow will be telling.
Something is artificially keeping the price low with these 100 share trades here and there at 5p bid. I'm not buying it! Could dump a few 100k easily at 5.4 earlier... question is what's causing it?
9.5% up, something's brewing. And it's not one of my f*rts.
I’ve found it’s been a similar situation for a while - very little opportunity to add shares. My guess is that in the process of taking this private, there are a few people responsible for building a large stake in the background. This would ensure they have the necessary support for the transaction to complete
Does anyone know who is responsible for filing Form 8.3 if a shareholder exceeds 1% holding? i.e if someone were to hold 1% worth of shares through a broker such as HL would the onus be on the shareholder to submit this form, or the broker?
Started: robswire, 16 Aug 2024 14:47
Last post: robswire, 16 Aug 2024
Buying pointless numbers ….
Friends of Hedge ?
Started: Kellysheroes, 14 Aug 2024 09:01
Last post: HedgeHogarth, 14 Aug 2024
Rather amusing. Countdown...
Not guilty, but I love that. Shame it ended with a damp squib of only 26k shares bought. Not much of a blast off!
Weird buying pattern this morning. Anyone going to own up!
Started: HedgeHogarth, 8 Aug 2024 05:24
Last post: HedgeHogarth, 14 Aug 2024
:-)
Thanks guys - you know who you are.
For avoidance of doubt - there is absolutely nothing untoward, no ulterior motives here. Just an opportunities to come together as a group of patient, supportive private shareholders.
Another shout out to fellow MMAG shareholders
Drop me a line @ privatemusicmagpieshareholders@gmail.com
I've had several holders contact so far; community slowly growing and I already think taht between the group we have a not insignificant holding
Https://circularsummit.co.uk/CS2024/en/page/agenda
Upcoming event on the snecondary maekrt - some current and ex colleagues in attendance - looks like a decent event
I have a spare stable door if that helps ?
Good evening Bulletin Board readers,
It is now 261 days since MusicMagpie signalled the start of the Offer Period - that's enough time to produce a human life.
We know that the Takeover Panel require the company to remain in the offer period based on multiple, ongoing conversations in respect of a change in ownership. Here's the statemnet from the most recent RNS:
"musicMagpie plc has been in an offer period since 27 November 2023 during which time various conversations have taken place with interested parties. Several discussions remain ongoing and as such the Company remains in an offer period. There can be no certainty that any offer for the Company will be made, nor as to the terms of any such offer. The Panel Executive has granted a dispensation from the requirements of Rule 2.4(a) and Rule 2.4(b) of the Takeover Code such that the Company is not required to identify any potential offeror with which the Company is in talks, or from which an approach has been received"
I'm keen to gauge what the private shareholder base looks like - I think it could be useful if we understood what this looks like and establish some contact; down the line, it may be in our interest to act as a collective group???
At the start of the Offer period the ownership structure was as follows and how that has changed : (based on publicly available data of holders with >1%)
Major Institutional Investors [43.4%] >>>>Reduced to>>>>> [21%]
MMAG Founders [13.3%] >>>>No Change>>>>> [13.3%]
MMAG Current Directors [12.3%] >>>>No Change>>>>> [12.3%]
MMAG Employee Trust [8.5%] >>>>No Change>>>>> [8.5%]
Other 22% >>>>Increased to>>>>> [55%] (+23% change)
We knw from the RNS that 6.1% sits with 2 major private shareholders (Hanson and Hargreaves); but that leaves almost 50% shares unaccounted for, of which 17% has been purchased during the Offer Period.
I have a small number of significant shareholders onboard already; I have set up an email address. I can assure you that all emails sent will be treated with absolute discretion. Nothing will be shared on here; communication will be via email.
This is not about price speculation; it's simply aboiut establishing a small group of genuine shareholders. No timewaters please.
Communication will be through this address: privatemusicmagpieshareholders@gmail.com
Is there going to be anybody left to turn out the lights??
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