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Sorry but that all comes across as a bit of industry b**ching. The target set is just one factor, surely the performance of the company in growing and widening its professional offer will be the factor which will help it achieve growth of sp. 6.4p eps merits and sp way up from here IMHO. Took advantage earlier and spent up my remaining ISA allowance.
The options kick in at nearly double the current share price. If you accept that's not realistic then you have to ask what is this really about. Personally, I suspect that it's an attempt to bolster the sp. Why would they attempt to do that? Possibly a placing? This company scores well on quality and value criteria but a number of things dissuade me from investing here 1.) narrow margins 2) Inability to find client lists 3) exotic management language - are they trying to communicate or confuse?
Earnings per share of 6.4p, currently 44p to buy ??? Errm, hello? Market, wake up please.
to pay imo, nearly 100% upside from current prices
The other question I guess you have to ask, when the BOD each have holdings in the millions why do they need any more of an incentive? Is a few hundred thousand shares suddenly going to send them into a frenzy of activity? I hope it is achieved but other than announcing the target there is zero detail of how they will do things differently to achieve it.
If they achieve what is set out, they will enrich EVERYONE, since they have many holders amongst the staff. I hate the jealousy culture. Selling at a figure of 65-70, thwarting a rise to above 75, is the ultimate foot shooting tactic. IMHO
As a long term holder of these shares, I'd dearly love to know what the BOD are going to do, that they haven't/should have been doing over the past few years, to drive the price to 75p. This looks like a scheme to enrich the BOD for doing what they should already be doing and getting paid a high rate for it at the same time. It also assumes that the BOD are the only important cogs in this machine. If the key players in the agencies take issue with this, then any ambitions to hit the the SP target will crash on the rocks IMHO. Agree with sell at 65-70
Hmm, well I tried to follow the logic of selling shares you didn't buy when they reached a target figure that would give the buyer a very nice profit on today's buy in price. It's a puzzler, I think I'd rather be a holder and increaser watching and hoping that the key personnel get their reward by hitting a target sp. Theory is all well and good, practice involves making real decisions. They wouldn't sell many at a go yesterday, but my ISA is the proud owner of a few more. I agree to some extent that the scheme is designed to keep top folks together in the event of an aggressive bid. The weakness of our currency, and the undervaluing by the market, will leave such speculation valid IMHO
low sentiment is behind the lagging sp imho, eventually it will catch up imo hopefully
Well one day! There is no point in this scheme if it is not achievable. Either the growth potential is there to reach this target or the value is already there and any aggressive bid would need to start at 75p. Just a thought. It would have been so easy for the BoD to set a much lower price incentive.
CliffPeat - I think you're right. Sell when/if it gets to 70p. I almost bought in here a month or so ago but this scheme put me off. Just a way to enrich the BoD at the expense of long term holders. Glad I didn't now - I like management to have a stake - but not this way.
looks pretty good here, no volume, guess that is the problem ay ??
Something has to break this illogical frozen price range, and this scheme has that aim at its heart. I wish it well.
The company has given us the maths (though I haven't checked it or thought hard about dilution effect). It seems that for a cost of £4m we (the owners) have a company worth an additional £29m Given the current low PER and the opinion of many that TMMG is undervalued, it may not seem too much of a stretch to achieve the target vesting SP. Perhaps sooner than later. Will the recipients of the scheme see these shares as a bonus to be cashed in or as a longer term "safe" investment? If the former, there might be a case for selling one's holding when they get into the 60p-65p range (and perhaps buying in again if there is a post vesting sell-off). Just thinking aloud - DYOR
The Mission Marketing Group plc ('the missiontm' or "the Company", AIM: TMMG), the marketing communications and advertising group, announces the formation of a new management retention and incentive scheme, as communicated in the Company's trading update of 19 January 2017. The Growth Share Scheme Arrangement (the "Scheme") has been designed to further increase cross-selling incentives between the missiontm's agencies and focus on driving the group forward and increasing shareholder value. The Scheme has been designed to retain and incentivise those key people who it is believed will be crucial to the missiontm's long term ambitions, and only has value to the participants if the share price of the Company increases substantially. The Scheme Under the Scheme, individuals are invited to subscribe for shares in The Mission Marketing Holdings Limited ("A Shares"). These shares are subscribed for at a nominal value of 0.01p per A Share and will only have a material value if the Company's share price equals or exceeds 75p for at least 15 days over the next three years* ("Vesting Conditions"). If the Vesting Conditions are met the individuals will be entitled to exchange their A Shares for an equivalent number of Ordinary Shares of 10p each in the Capital of the Company ("Ordinary Shares"). The A Shares have no value if the Vesting Conditions are not met. To achieve the Vesting Conditions, the share price of the Company needs to increase by 83% from its current level, representing an increase in market capitalisation of approximately £29m. Under the Scheme, the A Shares would have an aggregate value at this level of approximately £4.3m and would be exchanged for 5,720,176 Ordinary Shares. The total number of Ordinary Shares under the Scheme and under existing options schemes is 8.36m, representing 9.9% of the issued Ordinary Share capital. In total, 5,720,171 A Shares were subscribed for on 21 February 2017 (the "Award") by a limited number of board members and non-PDMR key managers. The subscription details for board members of the missiontm are detailed below.
Better. On so little volume. Hard to fathom, but welcome
Hi guys, Any reason why I can't find a chart for today's share price on this?
Is it just me or does TMMG always react badly to positive news. Its not an easy share to follow. Mission lets try and issue some negative news and see if we can trigger a positive response to the share price. It seems to have a real issue with breaking 45p and having the confidence to stay there. It keeps following the same pattern.
This update appears extremely conservative IMO. Certainly consistent with broker forecasts. So final dividend very likely to be 1.1p+ rather than my desire for 1.5p! One may assume that the BoD are not concerned with any market reactions. This business is very sound at the moment; no need to ask the market for funding so a dull share price should be just the ticket to structure a very lucrative share incentive scheme. This scheme will be complete before final results when what will matter then will be the hopefully announced pipeline of business to come. Lets hope this happens. The foundations are laid for a real step up in growth. All imo. Cannot see why someone paid 47p for 20k shares!
Agree with that. Some playing around with the sp this week. The sentence about costs leaves a little confusion, any time the word exceptional is used concerns may be raised,. however it does then go on to say similar to last year Also, jitters over Brexit will have some effect for quite a while I'm sure, the news is all about the fears, with nothing about new opportunities that will open up once we are free of the shackles from Brussels.
Reaction.... such a good company so undervalued
Good job! 60p on way for sure
The Mission Marketing Group plc ('the missiontm' or "the Company", AIM: TMMG), the marketing communications and advertising group, today issues a trading update for the year ended 31 December 2016. We are pleased to report that the missiontm has again experienced a strong second half, and accordingly the Company expects 2016 to be a year of further growth, both in terms of operating income ("revenue") and profitability. Headline profit before tax for the year to 31 December is expected to be 8% higher, at £7.0m. The Company's balance sheet remains strong and, despite settling over £3m of acquisition obligations during the year, gearing and debt leverage ratios are expected to be lower than those of 2015 and comfortably within the Board's target. Headline profits are calculated before acquisition adjustments, losses from start-up activities and exceptional restructuring costs, if any. These adjustments are expected to be at a similar level to 2015, when they totalled £1.3m. The Board remains committed to increasing shareholder value and intends to launch a growth share scheme later this quarter to incentivise board and operational management. The Company expects to announce its preliminary results on 23 March 2017. David
Not before time! A very welcome uptrend lately, recovering the post Brexit dip. On the performance of the group over successive years, the current sp lags behind by miles IMHO
Happy Days.....Finally seeing this share break the 45p mark in a very long time. Hope the share continues on its slow and steady rise. Just don't fall away TMMG.