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Wonder how this one will sit with Coretx and Adept4
Good news as predicted, certainly helped the SP out Curious to see how this one plays out
AIM-listed MXC Capital, the Guernsey-headquartered tech-focused financial services firm, has never been averse to undertaking ‘interesting’ investments, but this one seems more interesting than most. MXC has formed a joint venture with Colorado-headquartered cable and media giant, Liberty Global, to create a buy-and-build IT services business aimed at the UK SME market. Liberty is itself somewhat of a buy-and-build, of which its best know brand in the UK is Virgin Media, acquired early in 2013. The UK is not short of mid-market IT services players, and indeed this is one of the reasons put forward by MXC for this transaction – i.e. to consolidate a very fragmented market. However, the mid-market is fragmented for very good reasons – mainly because SMEs tend to prefer to be clients of service providers of similar size, rather than get lost down the bottom of the client list of an industry giant. Indeed it’s hard to point to any UK-focused buy-and-build IT services supplier that has achieved scale through this route – few make it past the £100m revenue line before ‘something happens’. Plus there’s the challenge of the ‘mouse dances with elephant’ syndrome, which usually results in one party getting their feet trodden on. Let’s hope the MXC team have been watching Strictly to learn the right moves! Update: I have just spoken to MXC founder Ian Smith and will have more on this in due course.
Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our over 24 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 10 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for our European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region connecting over 40 markets.
MXC (AIM: MXCP), the technology focused merchant bank, is pleased to announce that it has signed a joint venture agreement with Liberty Global Europe 2 Limited (a wholly owned subsidiary of Liberty Global plc ("Liberty Global"), the world's largest international TV and broadband company). The parties intend to work together with a view to building an IT services provider focused on small and medium sized business customers within the UK. The newly established joint venture company will initially seek to undertake a series of acquisitions in order to create an enterprise of size and scale, taking advantage of MXC's knowledge and understanding of the market, Liberty Global's existing network and solutions, as well as the opportunities both parties see to consolidate what remains a fragmented market. The joint venture company will be owned by both parties equally, will be called MXLG Acquisitions Limited and each party will appoint two directors to the board of the company...... http://m.londonstockexchange.com/exchange/mobile/news/detail/13436519.html
That's an interesting one - a private jv company. They will, I think, need to go to the markets now, and if so, that will give a useful benchmark for shareholders.
We'll now more soon enough, I believe there may be some good news on the way at last (and bad)........... The SP is depressing currently to say the least, should be performing a lot better than this !
do not post often - have been invested here for some time. Decided to do some research and to my amazement the CE seems to have been on around �800k for the last couple of years totally contrary to the performance of the company. it is so disgusting how many CE's and board members pay themselves huge salaries even though the companies are not being well managed.
Nice finish today, although still a long way to go............
dh42 I’ve been known to sit on the fence far too often hence the unfortunate name! However on this occasion I do believe there is some value to be made here. Agreed the investments arn’t at present setting the world on fire, however as Aphrodite said they arn’t dropping off cliffs either! Hopefully we’ll get some positive news around results, it might even tempt u back in!
I just checked my records, my first CTP buy was back in Feb. 2015. So I've waited 2 3/4 years. Compared to many others on AIM that's the patience of a saint :-)
Nothing much to wait for with Ctp - just figures to support the update. I'm in there - it's slow at the moment for sure and people like you get bored and sell. I expect some encouraging noises for the future though.
I also sold CTP recently as the boredom was killing me. Yes I know there's an update there due soon, but I'll wait for that first and see what happens. I no longer hold any of the MXCP companies, although they remain on my watchlist. I'm sure they'll come good eventually, it'll just take more time (2018/19?)
That's true of late, neither have they crashed and burned- save 365, but they bought the wrong tech in Wireless Things - didn't amount to much financially. Whatever, the partners are heavily invested, usually seen as a good thing, and will be looking to recoup their loss of profit. Personally, I think they need to get back into deal mode raising capital and reassuring the market - maybe that could be done at a premium with the NAV here.
Fortunately I sold out here last week, just before the drop. Unusually good timing for a change. I've been following MXCP and it's investments for a couple of years and none of them have set the world on fire so far. Probably more fun watching paint dry. I'll continue to watch from the sidelines. @Swiss1: nice name! What made you choose that? FYI, I'm an expat living in CH...
Not invested here, but have an interest. Could be something entirely new to announce with results, but this is what they last said as 'outlook'. With a portfolio focused on five investments, the Group is well positioned to build further value in these businesses both organically and by acquisition. Three of the five business that we have in the portfolio (representing 73% of the capital we have invested) were invested in during our previous financial year.......... We have a pipeline of promising opportunities for our existing investee companies.............
Should see a rebound now, might even get some sleep....................
So, investments continue to perform in-line with boards expectations, the board knows no reason for the drop in share price, and some potentially positive initiatives to announce on the day of results. Certainly eased my mind a little! Potential for a top up too?!
Looks like chimers' team hadn't all flipped so now into dross overdrive...
And there it is, big discount to NAV if all okay behind the scenes, we'll know more in a month anyway
Think we're due one regards the price fall...............................
I believe the SP is circa double what it is today, what I don't know is whats caused the fall ?
Down almost 18% today on no news?! I’d say so! Not many trades, and with little volume to bring it down too, which is a bit surprising. I tried a few dummy buys today and was being offered slightly less than the ‘current’ price each time. Update due this month I believe so hopefully we’ll get some clarity. Anyone with any ideas?
Looks like bad news afoot....................
Just when you think it can't get any worse ...........................