Member Info for HedgeHogarth

The Daily Telegraph quoted £40m from "city sources" at the time of the BT interest

I did some research to look at the value of acquisitions of similar businesses

$350m paid for ecoATM

Regenersis disposed of it's recycle/repair business for 103m Euros

Gazelle sold at a lower amount, just $18m - but it was much smaller than MMAG and distressed

PD101 - what's with the X-Ramping?

This is the MMAG bulletin board

This is like one of those football matches where people leave early and regret it (Think the Gallagher brother many years ago when they left early for big City comeback)

This compnay is actively seeking a buyer - I'm waiting for the conclusio of this process as the minimum acceptable Bid in my mind is ~50p. The papers were suggesting 40p before Xmas - but I think that was light and came before the strong H2 performance update and improving interest rate outlook

The lower rates do not supercharge margin - but will improve Net Profit but more importantly will improve cash

A poster made the very good point this week that the problems in Red Sea are likely to affect suppoly of new Consumer tech - which will bolster recommerce and really help MMAG business model

It actually touched 46p in th elast 12mth

The meltdown refered to is from 200p to 9.5p. Or in mCap (£216m to £11m)

The UK market has battered small UK companies and left them very undervalued

Just tried adding but could not get a quote for £1k worth

The issue I have with 20p is it has no basis - it values the company at a paultry £21m

This is not a 'fire sale', MMAG have released a good FY update shoing grwoth in EBITDA, reducing in net debt and H2 growth in Consumer Tech which will be the cornerstone of its future profitability

If I had 1 5-10% holding - I would be wanting at something between £50-£75m for the business. Perhaps letting it go to the 'right' buyer at £45-55m if it was a good deal for the employeesa and gave plenty of upside for the new owners

Riches are around the corner - I'm not exiting the corner early

here's a great corner too

https://www.youtube.com/watch?v=l9zf8JBi66c

PD101 - I've shared my thoughts a lot on this in the last 2 months.

I do not think the current shareholders will let this go for 20p

I've gone on record to say that 50p is the lowest i see this going for

Time will tell if I'm right or wrong

Private Equity paid $350m for ecoATM - which subsequently raised over $300m in the last 2-3 years for expansion

https://www.prnewswire.com/news-releases/outerwall-inc-to-acquire-ecoatm-213956451.html

https://www.businesswire.com/news/home/20230329005347/en/ecoATM-Gazelle-Raises-an-Additional-Round-of-50M-Investment-to-Drive-Smartphone-Access-and-Sustainability

https://www.prnewswire.com/news-releases/ecoatm-gazelle-raises-75m-of-growth-capital-to-drive-global-smartphone-access-and-sustainability-301310977.html

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/cowen-sustainable-advisors-makes-200m-investment-in-apollo-backed-ecoatm-56966621

Pumpky IS already in I believe

It is just his/her slightly warped sense of humour and impatiece shining through

Indeed it does Micky - and I'm quite content with that.

It was clear when I opened up the number 1 door on my Advent calendar that, realistically, December was not going to be achieved - so hopes turned to January. Whilst January is ot 'off the table' completely, it does now look like February will be the month that Hemogenys joins the Clincical ranks.

Most commentators are suggesting that last week, the offcial first week back, was not really the start of the stock market year - given it was a 4 day week and much of the investment community noy yet re-engaged.

Therefore, my very strong suspicion, is that this RNS could have gone out perhaps Thursday last week, but Hemo waited until today to create a bigger splash. If I'm right, the next RNS could come along sooner than we think.

RNS confirms the completion of the next step towards the clinic

As advised on previous RNS - Hemo had one final step before submitting IND. To conduct a final 'end to end' manufacturing run having already confimed the successful re-manufacture of the lentivirus. (now deviod of splicing variants)

That run is now complete - Hemo has conducted tests and are very happy with the successful results

Next Step:

- The company are waiting for results from a thirdy party who are conducting the same tests to qualify Hemo findings

- Finalise documentation and re-submit IND providing a "complete response" to the FDA

- FDA to scrutinise Hemo re-submission and remoce clincial hold

- Hemo start Trials

I will not add my opinion to the timescales - it's a mugs game. But I firmly believe that the next two steps are straightforward and we are almost there folks.

The biggest risk at this late, late pre clincial stage was if the final run using the new lentirus was not successul - so very happy to have cleared that hurdle

Good Luck All

See you at the next RNS whether that is this week, next week or soon after

The only selling is from 2 IIs

The Schroeders may be selling any BT stake

And I think there is more than meets the eye on Cannorcord sales

By taking SP low may pick up some shares from the public

I very much doubt if there was the decision by BT / Aurelius not to bid at before Xmas was nothingto do with the books.

They were only ever said to be in preliminary talks and I've shared many reason on hear already as to why they decisded not to make the move

It is far from straightforward to sanction a take-over bid for a company in a big Corporate beast like BT. MMAG, on the advice of the takeover panel, shared the news which IMO was probably hugely premature from BT's perspective.

BT may still be interested - my understanding is that the urgency that is on them to 'put up of shut up' is there to protect the target company. So nothing to stop BT still getting involved if they wanted, providing MMAG are happy for them to do so

Honestly Jamrock - I'm not suggesting you were doing anything underhand,

Apologies for any confusion and well done on your previous 'call'

Jamrock - my post explained it all

I'm not suggesting you intended to mislead and I'm certaining not suggesting you did not call this down at 100p.

I simply expanded on the share price history to be more clear; the way I interpreted your post seemd to overplay the 'below 10p' piece. It never went below 9.5p and IMO there is little difference is 9.5p and 10.5p when over 50% of the investors have an avg of >100p

IMO - nothing is off the table. It may well dip further or it may quickly move back towards 20p The SP seems to be maniplated based on what is happening with a few parties. Cannacord and to a lesser degree Schroders seemingly found buyers betweemn 10 and 14p.

Or is the activity being driven by 'buyers' - This is my gut feel given the 'Bid window' and involvment of Deloitte.

It would be too much of a co-incidence for Cannacord to decide to dump their shares at this juncture - right at the point at which their is a potential change of owenrship. They are losing 95% of their equity by selling now - so I think there is more to it.

Jamrock - Good Luck in whatever association you have with MMAG shares

However - your first comment is massively misleading be it intentional or not. I'm refering to your comment:

"I called this down to 10p when it was around £1.00 however many laughed. It actually went below and rose again and now near 10p again!"

Let's break it down...

"It actually went below" - Correct - for 12 session there were transactions below 10p - the lowest of which was 9.5p. So whilst you are technically correct, I don't think another 1/2p drop when the share was already down from 200p to 10p is significant. I doubt there was much opportunity for a PI like myself to have bought many below 10p.

"and rose again and now near 10p again!"

Yes it did rise again - it rose over +350%

It initially doubled within 10 sessions

And then about 35 sessions later it had trebled and then quadrupled from 10p

And about 1 year later after peaking at 46p in January 2022 we are back at 10/11p again

Apologies if you were not intentionally trying to mislead.

I read it that you were may be saying that the SP had gone below 10p and now risen back to 10p again.

It looks like the opportunity here is starting to grab the attention of others.

Saw this tweet today from a poster with 3k followers. Its already been viewed by over 900 people

https://twitter.com/MBdaytrading/status/1743570696859488371

Josey - thanks for sharing some genuine new thinking here. Really interesting

The sales of new mobiles and tablets has been in decline - AO Mobile reported a big drop in FY23

The link to the Red Sea Issue and general global uncertainty is a good one - as we found out in the lockdown it does not take much to disrupt a supply chain. I was researching PETS last week and 'stock availability' had a real impact on their numbers last year. I guess if you were to take 'global troubles' to the extreme the recommerce market and the ability to recycle tech would boom and leap off the charts.

Also appreciate your thoughts on the MBO side of things. It's not the outcome I expect, but it is clearly an option.

I think that (1) Purchase by Private Equity is most likely closely followed by (2=) Purchase by UK business in adjacent market and (2=) Purchase by Global Player in same industry

Moniman - time will tell i guess

The BT thing is probably history as you say - but it could have been anyone. What got the market excited was the heightened speculation that MMAG will be taken-over. Like manuy other UK companies - the MMAG share price is battered, bruised and sitting well below it's market value as a going concern.

You only have to go back to September and see many shares changing hands north of 20p.

Just adding my tuppence in...

in refence to

"I am now a spider investor, jab and grab as I call it. In and out the same day with decent profits - normally a minimum of 20%"

That is NOT investing, it is speculating: Investing typically involves a longer holding period, measured quite frequently in years; speculation involves much shorter holding periods.