Member Info for BIGBangs

I have noted some posters questioning how MTRO can afford to pay 9.5% (remember Barclays recently raised money at 7% and they are obviously massive) on the bond. Providing they comply with the rules which was the problem earlier with their reporting (dealt with by the £375m raised at £5) a bank can lend out something like 10x the amount raised so let’s say on £300m that is £3bn to advance at 3% would give them £90m income from which they pay £28.5m bond interest.

It is certainly intriguing Jim, I do not recall having seen that expression in a RNS before, anyone else? I hope it means what we think it means but it could simply be confirming that at some point they will replace the bond with another cheaper one when we are in a stronger position both reasons are good.

Hi Investor, personally I do not anticipate that the results will be outstanding but I do expect that we will still be producing a profit and that the outflow of deposits will have stopped and prospects all round will be more positive. If we had not secured the bond or sort an extension we would have been left at the mercy of the shorters - I don’t believe that is the case now. I am on record in believing that they should have got the first bond away and I don’t think that was handled well but I am a little surprised that Big V will not only be standing down as Chairman but will also be leaving the board - he is a massively influential player in the US and I can’t help but believe that his departure will herald a bid - that is not a bad thing for most of us and it some ways it will force my decision/timing to exit, for those that have higher averages and I accept that it could backfire but they always have the opportunity to average down. As for tomorrow I think we will solidify the rise today and I certainly anticipate that we will be trading at at least the SP we were before the first bond raise ie close to £3 but I think a few more things have to become clearer before we will be back over £5 although I certainly remain confident that we will be and then who knows?

Probably just wishful thinking Ginger but they have an awful lot of shares to buy back and all other things being equal that act on its own would take the SP way, way higher. Although I will not wish them well I am more concerned about our own position - this has been quite a journey but I believe the tide may finally be turning. ATB

George, the interim dividend is normally in January and the final in July, I believe dividend data only reports once the dividend had been announced but RAF correctly relays the AMGO’s update on the dividend policy. Dividend data do also confirm previous payments and dates.

Hi Manifesto, I will call your £2.50 and raise to £3.50 for a dismissal although probably not all in one go and on settlement (especially if it is under the £50m mark as I have previously speculated) I would say £1+ on the day of the announcement and rising to £2+ in the following days and very soon £3.50 after the traders have finished and the funds taken hold. Just in case it needs saying this is pure speculation on my part which may indeed be affected by the rose tinted spectacles I have in line with a very large holding. Not long now and we can put the speculation behind us.

Hi Spike, these sorts of trades have been shown for quite a number of companies today - apparently they mean nothing - something to do with it being 1st of the month and cfd’s having to redo their positions which allegedly results in a double trade. As you point out they had no affect on the price so I am happy to ignore them. ATB

I shall remain hopeful of a dismissal - that still seems the most just outcome. If that does not happen then a settlement is of course sensible - IR indicated to dodge that the $500m adequately covers it but that could mean $10m or any figure in between. Wherever the figure might fall on that basis would certainly see a significant lift in the SP and a much clearer future. Personally I doubt we will get the news before Friday’s close.

Good morning acaciatan, as you will recall I own a large number of these and today’s rise certainly makes me happy. I remain confident that the coming week or so will be massively significant and if the court case goes in our favour the figures you suggest are the absolute minimum I would anticipate. I like the number 9 myself, as it always adds up, but what on earth is the significance here?

I may be adding 2+2 and getting 100 but it occurs to me that if ENA waited until £1.66 to close 1% of its short position and that resulted in a 16% rise in the SP and if you believe that at some point the shorts will have to close, as I do, then what effect will closing the declared shorts alone have on the price here? Add into the mix more funds taking Big V’s call and adding and things could get interesting. Whatever happens it will certainly not be a straight line but I will hold it out. ATB

Funniest thing you have ever written Codey - made me smile.

Personally, and it is just an opinion, I think that the SP may well drift a little lower over the next week or so on market sentiment and silver prices but then I foresee a strong rally up to the announcement of results at the end of the month with shorts closing. I do anticipate that the results will be good especially compared to last quarter.

I do not pretend to understand the SP but having been given a Government grant to continue development of a product whilst at the same time being sued by the same Government for marketing that product seems perverse but must help our case 4th October could be exciting - I certainly hope so.

It is my experience that all RNS’s are generally worded and released by the Nomad with the approval of the BoD. Seems hastily prepared and released - it should have been much more positive as any part of the equipment achieving FDA approval is a big deal - defeat once again snatched from the jaws of victory.

Thank you Poker, I am fortunate in that I have not invested more than I can afford to lose, certainly more than I would like to lose but however painful it may be at the moment ultimately I do not expect to lose anything. ATB

I gave myself yesterday and this morning off to try and gather my thoughts and decide if I should take any action with regard to the current SP. I have spared myself reading through the posts that I have missed but I feel happy at least with that decision. I am obviously unhappy with the losses I am showing and with the current SP, which I believe was brought about at least in part by the less that favourable action of the BoD in deciding to pull the bond issue at the last moment and without a clear and positive RNS to back up that decision - the reasons for their decision may have been entirely valid and in the best interests of the company - certainly they believe so - I maintain it could have been handled better as many shareholders who sold will have suffered significant losses and the discomfort that goes with it so I struggle to understand how shareholders actually benefited. However, if the SP had not fallen yesterday and was still ticking along at c£2.80, I would not be selling as my aspirations for this share are considerably higher, therefore, as I believe that things will get back to normal at some point in the not too distant future, I will not be selling but wait it out. I added a considerable number of shares at around £2.30 yesterday which on reflection was not my smartest move. The market has spooked me for now, exactly what the shorters wanted to happen but I can do little about that - for this reason I will not be adding today although my sane mind tells me I should. I believe the shorters will take this opportunity to exit - they have played their cards well. I do not believe that MTRO will go bust or even that it will be taken over, I do believe that Big V and his friends need to act quickly to restore confidence and improve the general sentiment which surrounds us and I hope that they will. ATB

Arson, no thanks.
GetLucky - I doubt anyone wants the SP to turn more than I but you have to accept that interaction with the market is a very significant role for any BoD of a PLC?

They are being badly run GetLucky as any interaction they have with the market turns into a complete debacle - surely you agree that announcing a fund raise without giving any details was going to be devastating to the SP and pulling a bond issue at the 11th hour was also very badly advised?

Sorry Barnetpeter - didn’t notice the spellcheck change.

Bartender at the risk of destroying whatever credibility I may still have I am sorry to say that I purchased about a million shares in Lloyd’s at about the same time as you were being advised to buy - I couldn’t believe what was happening - I lost over £1 million over the course of the next few months and have not touched a banking share again until I was tempted by MTRO - good job that it is my own money!! Totally different set of circumstances here and I remain hopeful but we seem to be fighting against what I can only call an incompetent board who are being badly advised.