Member Info for HedgeHogarth

Many laughed when MMaG offered to buy CDs for 10p to £1

Many thought an App to get food delivered from your local Chinese was a flash in the pan and unlikely to take off...

Let's not rush to assess the success or otherwise that MmAg have in a new product area. I for one applaud them for the bold and interesting move.

Dhton

You are clearly as incompetent as you are transparent

Mens Polo Shirt comes up as an option for me

MM will have done their research and I am sure they will learn a lot about their pricing as part of the launch.

If you think you can sell your clothes for lots more on eBay, good luck to you.

My daughter uses Vinted regularly and I can assure you that most purchases and sales are sub £5.

As ever, comments on here are from the haters who have no interest in the success of MMaG.

Great to see some life back in this share

Seemingly, more buys going through in the first hour of the session.

Either more are jumping on board (or back on board) or someone is accumulating slowly

Can anyone recall the target price that the Broker documented recenlty - I think it was 30-something pence?

Mystic Zac ;-) also suggesting something similar: F-Fwd to 14:30

https://x.com/Share_Talk/status/1795413867109265450

Some decent delayed trades printed today. Certainly suggests that something has changed or is happening.

Exciting times

Some you win some you lose.

Good luck Josey - you are one of the good ones on here.

I’m sure there are more twists and turns to come

Nice to see some more volume in recent days.

Granted prior to the start of the Ukraine issues and kamikaze kwasi's budget!

It's ancient history now - move on

Robswire - you have been coming on here for months and saying the banks will call in the loan imminently. They have not and will as the company have proved they can manage to the covenants

Mr Magorium

The rate is detailed in a number of the RNS if you look back in history - it is anchored to Sonia + 1.95% to 2.5%

Robswire is a Banker type - his glass is half empty

Magpie's challenges

- Magpie took on debt to fund it's rental proposition which requires significant working capital tied up for 12 months

- This is provided by Natwest/HSBC with a RCF of up to £30m. MMAG have drawndown about half of the facility.

- Interest rates increased after taking the facility - increasing the cost of finance

- The bad debt on the Rental prop was probably worse than hoped (mostly due to macro conditions)

- The RCF has two covenants - both linked to EBITDA. Bet Debt has to be less than 2.5 times EBITDA and Interest payments need to be less than 4 times EBITDA

- This has manifested in tow challenges for MMAG;

(1) Needs to improve EBITDA (This weeks's RNS suggests they are very focussed on this)

(2) Needed to manage its net debt and drawdown to stay compliant with covenants

However the company have already shown they are able to flex and pivot to stay compliant with covenants and therfore I am 100% confident that they will not fall foul of the banks;

They have pivoted on Rental; it was a very popular with customers (based on iniitial sales numbers). Howvere, they only sell Rental to the very best quality customers from a Credit and Risk perspective. This has avoided increasing net debt and will improve the profitability of the proposition.

The rental Prop and Kiosks are not bad ideas - but both have put pressure on company at a time when the macro conditions worsened; higher interest rates, tougher consumer environment + tougher for small businesses to raise capital

The worst is behind Music Magpie now IMO; it has shown resilience and navigated one of the toughest period for small businesses in my lifetime.

The SP is valuation of a business expected to fail - If like me, you think it will NOT fail and that better times are ahead, the share price is a bargain

Some shares hoovered up today at what may prove to be an excellent price.....

Nice to hear that Rental income is up YOY - with net debt stable - and a higher quality rental base which means the debt is better covered

Lots of glasses half empty

The takeover panel are not there to 'let MMAG' string people along. If the dispensation has been granted, it will be for genuine reasons.

There will be a few takers of shares at this level

Usual clown picking apart RNS.

Broadly in line and about the same - mean exactly that - whether its a little higher or a lttle lower - the change is not considered significant.

Nice to have it clearly documented that 'Several discussions remain ongoing' and that the regulator has deemed them serious enough for them to remain in 'offer period' and that the regulator has granted them anonimity.

I also like the nod to profitability; it sounds like it has lots of focus and nice to see the reference to its significance for the medium term. If they can show improved profitability - this share will warrant a significant re-rate

I am content with the update - the fact is it offered no surprises which is what I want from my investments.

Black Friday may have 'happened' in prior year - but only by 6 days

Black Friday is no longer a day or weekend sale - it tends to span 2 weeks before and 2 weeks after

It is also fair to say that they will have sourced devices in that period which give them the momentum into 2023/4

Robswire - as ever your glass is half empty

...there's no smoke without fire....

Nice to see a bit of positive momentum in the share price....volume are relatively high with shares changing hands and an increasingly higher pricepoint over 2-3 sessions

Good to luck to holders

It is not common to get AGM updates from ccompanies - Trading updates generally RNSd in their own right, agnostic to tiing of AGM.

Howvere, an update is well overdue on the Offer Period and what will or wont be happening. I'm sure the AGM will be a catalyst for investors to want answers.

Let's see what happens

Derek99 - what is the difference is them particpating in the SIP when the shates are 40p or 15p?

Either way they are parting with the same amount of money and are getting free shares valued at the same amount

The only difference is is the shares go up in price

Whay are you suggesting they are cheap?

It is all cyclical IMO - in time the story will flip

The stocks will be deemed overvalued and expensive at some point and investors will flock elsewhere

404x - could not disagree more

I have seen plenty of manipulation of a share price going up

You are either being naive, stupid or disingenuous - if you think share prices are not manipulated

If you were about to make an offer for all the shared capital in a company - you would want a lower share price

If you wanted to short a share price you would want a high share price

the list is endless and there are many partites who have the tools to influence / manipulate

Yawn....

Whoops sorry, that was in response to another tedious post from Robswire obsessed with capex.

Mayve Robswire should think about what the cost would be to set-up a company in tis space that can deliver the EBITDA that MMAG do and compare that to the current valuation

The bottom line growth will come for sure: just need a bit of patience.

The biggest challenge for small businesses has been raising cash - XPF had not needed to do that and do not need to do that until the market improves and money flows back into the small caps

Today's price is a gift

Working overtime Robswire? Sign of panic….

Lots of manipulation in the bid/offer today - no proper trades went through sub 5p.

My understanding from Takeover Panel was pretty clear: no talks, no offer period. So we have to assume that there is something going on behind the scenes

The shared price is like a coiled spring - MMs tried pushing it down another notch today but it wouldn't go

The share price of this compnay has NOT reflected the market value of the company for a while now ; at £2 it was overvalued and sub 30p it has been undervalued. I cannot and do not take the SP too seriously when volumes are so low - the SP is simply a number that connects a few small buys and a few small sells. It cannot be long until we get a realstic indication of what this company is worth in the current market; when we see a more material volume of shares change hands as part of a change in ownership