Member Info for Bighand

Is the liquidity coming from the 3m Canaccord offloaded in a oner the other week, is that possible?

Shares moved so far this week;

13k sold

683k bought

£13m* debt on an RCF facility @ 20% is £2.6m* dead, any buyer has an instant saving. Why 30-50p is fairer value IMO.

Thoughts on a Dividend Declaration, used to increase MCAP?

As a result... consultant DEVs headcount at MMAG reduced by up to 10 - £1m+ salary saving?

Me either, I’ve been in the industry for a few decades now. I saw ICT reverse/Mazuma was mentioned earlier in this chat, I remember when MMAG went to ICT back when it was SHP close to 15 years ago for them to do their processing. Times have moved forward since then!

I have only briefly looked at it but the rentals work, desperate consumers pay high, nearly a pay-day loan model. It is though risky, as recently shown, so I can only imagine this particular rental model was started to prove it worked with a view to securing a different financial model when the trust was there. When MMAG first started renting, banks wouldn’t look at supporting with finance due to it being used equipment and the risks of manufacturer warranties not being there. With all the sustainability pushes, that has very much changed over the last few years and I see the risk of a large revolving credit facility reducing as a leasing offering will be at the forefront of their marketing very soon.

Whether its acquired, delisted or otherwise, the valuation is low and I see a value rise soon, a cutting of costs and staff will show increased margins in the July interim results

BT/EE have a strong brand, if the main reason to acquire MMAG was to increase throughput of second hand devices then wouldn't they have looked to strengthen their offering that's already set up? Their own recycling website isnt competitive on pricing and isn't on comparison websites. The service is backed by Likewize, a Multi-Billion $ company who are primed for any increase in volume. I've seen their Northern American facilities stock upwards of 150k devices valued over £60m. So my thinking is there was more at play.

Saying all that, it's not relevant now, but perhaps, MMAG had interest from BT/EE due to it's undervaluation throughout last year alongside MMAG ability to assist with what I mentioned earlier, the potential of white goods being introduced into their product stack. Now with a failed acquisition MMAG is perceived as weaker still, dropping the valuation further.

A rebound is very likely, any guess to where is just that, but fingers crossed mid-20s post results in early March!

On another note, does anyone know when renting a device from MMAG how the VAT works. Buying used mobile phones from consumers qualifies for Marginal VAT. (pay VAT at 16.66% on the margin rather than sales price). So VAT due on a device that was purchased at £150, and sold at £200 would be £8.33 (16.66% of £50) - just curious as it may also have some impact on why B2B markets aren't considering acquisition here.

I ask because I've seen the recent disclosures at 1% however a significant shareholder is any person with a holding of 3% or more in any class of AIM security, or that's what I'm reading.

Moving on though, does anybody know where the BT Group interest derived, was it from their discussions to supply white appliances in the near future and MMAG having the ability to also operate in the second hand market there? The chatter in the industry intrigues me, nearly as much as the sledging on this chat!

New to LSE and a Q for MMAG shareholders, am I right in thinking that a disclosure of a significant shareholder isn't needed unless over 3% of shares are held?