The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
JimJam - how can you call a bank or any company 'a very small operation' when it has £22billion ( not million ) of assets, £1billion ( not million ) of net equity and over £2.5billion of positive cashflow - a positive swing of over £4.5 billion since it's 2019 results - plus Metro are now back in profit...
Odey Asset Management are burning a lot of their profits they made on their current and recently reduced short of Metro every day they keep their short on Metro (now 2.16% of Metro - previously it was a bigger short until they recently started unwinding it) - they are going to have to buy their way out of their short at some point....
Should be re-rated not just on bid rumours but on the numbers - Metros last accounts showed they had £22 billion of assets, equity of just over £1 billion, operating cash flow of approx £2.85 billion (a positive swing of approx £4.5 billion since their 2019 reulsts) etc plus latest update from Metro confirmed they were profitable again -
And yet Metro still has a market cap of just £192million..
https://www.virginmoneyukplc.com/investor-relations/shareholder-information/dividends
The 7.5p dividend was passed - as VM website - goes ex dividend quite soon - 9th Feb 23 - a cash rich company returning cash
Odey have been unwinding their short position almost everyday day recently - everyday last week, monday this week, gone from 2.83% of company to 2.16% in 6 days. Everyday they keep their short they are going to lose......
MFX application for a UK Branch Banking Licence - in the RNS MFX state this gives them the potential to add £0.5 billion of assets - as they already have £0.317 billion of assets and this is growing at a nice rate already - points to MFX having the potential for £1 billion of assets in a few years
Lse.co.uk needs to update this site - the dividend shown here is a year out of date showing dividend of 0.1724 per share here - it has been increased over 40% since the last dividend received - 0.244 per share June 2022 - and this dividend is set to double maybe more with MFX recent results and policy/dividend formula going forward..
Just noticed some of the figures on this page are over a year out of date - the dividend of 0.172 shown above is the one paid out over a year ago so the div yield is wrong as well - the most recent dividend received 3 months ago in June 22 was 0.244
MFX dividend policy/formula means with results like those just reported this recent divi of 0.244 is set to double, maybe more than double, next time around....
If MFX keeps growing like this a full listing on the main exchange could well be on the cards in a couple of years - with all the liquidity and institutional investment that comes with it...
Another set of solid results just posted for first half of year - they even had a record June despite Covid
Shareholder equity increased to £21.8 million = net assets per share now 19.1 p,
Cash / near cash up to £64 million
Total asset base now up to £261 million
JM also stated "One matter that I am determined to progress is the provision of a dividend scheme. I am pleased to say we are in advanced discussions with our financial advisors as to how best to implement a Dividend scheme to reward shareholder loyalty and i hope to announce the full details before the year end"