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To me, it looks more like 218 or 219 finish at best. This is MNG, a snail, lol.
Kind of disappointed, finished the day in red, after it has almost touched 219. Oh well, there's always tomorrow hey?
Giddy up snail,c,mon.you know you can do it.faster faster giddy up
Channels is what its all about. Rising channels, falling channels. Short, long and medium channels. English, Irish and Bristol.
Next few days will be interesting as there could be quite a breakout. If it breaks through the short and medium rising channels it could have a go at the long term falling channel.
https://invst.ly/12n9rx
It has advanced another one more pence. Was up to 218 briefly , but slowly, slowly, catch the monkey 🐒 220, here we here come!
Cheap, slow is good and long may it continue. JJ
Yes it's looking good.
Update may still be far away at the beginning of March
Maybe add another 5-10p to the share price before the update/final results.
Then hopefully hop higher. It is very slow
215.6 finish, 220 is within reach now. We probably will get there by the end of the week or even earlier.
Okay, here we go, onwards and upwards!!
Good to see this snail is on the move. Please keep going, faster, faster!😂😂😂
Whoa, what a snail! But for MNG, guess we all have got used it already. Always two steps (or one step) forward and one step back, a typical 'snake and and Ladder' game, lol.
SIDI….if the chartists are to be believed it will be about 2 months to get to 220….it is about 2 months since 200 and 1 month since 205…..so the short term trend is there.
It has been a week since MNG climbed to over 210, and we are still here. I wonder what does it need in order to push the SP up to 220?
Thanks for that casapinos....most appreciated.
It really is no big deal. MNG has sold 10% of their holding in SCS for about £1mill, cashing in on the recent rise. As the shares went Ex div on nov16th they will get the divi on the shares sold . I have no doubt they plan to deploy their cash elsewhere and earn more than they might by waiting for the deal to complete, which if all goes well is scheduled for ist quarter 2024. the reason why MNG has Rns'd the sale is that when a takeover is in play ALL holders are required to declare their dealings. See this
https://www.londonstockexchange.com/stock/SCS/scs-group-plc/analysis
I spoke too soon. It's pulling back now, lol.
One thing I don't understand. SCS has already accepted Italian firm Poltronesofa's £2.70 bid plus 10p dividend. That's £2.80 per share in total. Why did MNG sell the shares for £2.60?
1msn - thanks that seems so simple a response but is helpful as I couldn't understand the form. Thanks
Now, we are above 210! Well done everyone. Here we go, onwards and upwards!!
M&G are selling a position in SCS
M&G has various funds with shares in many companies under the management of those funds and trade these shares occasionally. This Form 8.3 shows in the top left corner that it is issued by M&G and at 1 (c) 'Name of offeror/offeree in relation to whose relevant securities this form relates: ' discloses that the form relates to shares in SCS, not the other way round. These forms issued by various companies can be confusing as they aren't necessarily in the exact same format but if in doubt check the figures - M&G's holding of 3902891 shares in SCS as disclosed in 2 (a) (1) is 11.94% of the Issued Shares of SCS (33.95m). So it's M&G declaring that they have sold part of their Fund's interest in SCS and have done very well there as following a takeover announcement at end October, SCS shares have increased in value by 67% awaiting completion of the takeover. The M&G Funds are probably holding on to the remainder as the takeover price is cash per share plus a 10p dividend per share held at the date of takeover.
I'd love to hear from anyone who understands what the Form 8.3 that has been getting posted recently is about. On the face of it it suggests that SCS Group has been selling chunks of shares at £2.60 a pop, as this is well in excess of market value I'd love it if anyone who understands the apparent price differential can explain why. Does it suggest there's buyers out there at £2.60? (I can't believe it) thanks in advance.
But the SP went down today. Hopefully a positive finish end of Friday
£2.20 is as good as guaranteed I'd say, either before the end of this year or early next. I am happy at that level with a superb dividend to allow re-investment.
£2.50 is my target but longer term into the second half of next year or so, could go higher than that over the longer term next 2 years or so.
Just my opinion based on all factors though, good luck guys.