Member Info for John33

I know I have been fallowing them for some time.

MCG sp is trading like we are in a recession,what with all the profit warnings, I should have realised after the first that more were to come and sold, stupdidly reassured myself the dividend as you yourself took cmfort in it until recovery but that was removed trading has worsened. In recessionary times just like covid low sp's can drop to unreal levels and of course some companies fall by the wayside.

As you will know if company was wound up so I suspect they would get most of their money back or they would take control themselves for recovery, shareholders wiped out.

I just can't get my head around the sp fallen constantly with no end in sight, it had to come a head sooner or late, for better or worse.

Yep i've been following them, 3 of them as far as I can see, 2 of them have been edging down I think but nothing major as yet, but bond holders are not likely to know anymore than us unless they have inside info, or as and when the board spring the next shamble of an update, I hope not though.

I am, but the sp is still dropping and looking at how this has played out for some time now and the chart there seem s no end in sight, mcap now under £300m, $3b revenue what does this signal, I fear the worst so am trying to see all eventualties, how this is playing out, pi's on this board myself included have been wrong all the way down.

Don't know what yer smoking but one can still end up broke, it does not have to go bust, shareholders can still get as good as wiped out without going bust if the debt is not significantly reduced soon.

The sp is signalling severe distress or further mishaps to be unveiled in due course, that is what everyone is fearing based on the boards track record of late. New CFO in place albeit not on the board, could be further kitchen sinking otw.

I'm wondering is it possible the equity will end up worthless and the bond holders will take control selling off piecemeal to get there money back, shareholders stuffed,..regardless most are worried, the sp has fallen over 90% in 3 yrs.

They have more pressing things to contend with such as paying the debt down.

They chose to pay a dividend and look where that has got the share price.

2.2 est 2.5, further carry over from yesterdays US CPI, FED BEHIND THE CURVE

Have a man on the board so they will know of any offers for NA,..and they have not added to their holding at ever decreasing sp.

This was begun Oct 2023, they said sale prospectus would be prepared and binding offers invited in the first quarter,..can we safely assume interested parties would have submitted an offer by now?

Would it be normal practice for the board to announce they have received any offers at this stage and are evaluating them?

And if so is it safe to assume the offers are underwhelming if any to say the least as the board have not been forthcoming?

Or is it that the board will not announce any particulars re. how the sale is proceeding as there will be a confidentiality agreement in place until the sale is signed on the dotted line?

Whatever the reason for radio silence re. NA sale it is clearly having a negative impact on the sp/ speculation about the state of the finances going forward and the viability of the company.

Not one ii has increased their holding over the prior 12 months minimum apart from Cosmens or those probably connected to them, Liontrust sold down in May 2024, August 2023 M&G off loaded about 4%,..quite telling, yet they continue to vote for the board unanimously like sheep.

Qube research is a first for them over .5%

Must be many undisclosed under .5% .

Potential low bids received for NA somehow shorters in the know, couldn't possibly happen could it? nod to pile the pressure on the sp.

Talk about turkeys voting for Xmas, I assume they'll be ready to back him in a cash raise as well.

But it is soul destroying, day after day, often happens the equity ends up worthless in similar situations, or dilution which is bad as well.

The further it drops it is starting to look like a lost cause and Captain Garat should be thrown overboard for dereliction of duty, is just waiting for the debt ice berg to hit and take us all down.

Several posters said that if the individual parts were sold off the sp would be worth multiples yet it still languishes and drifts ever lower, clearly the market must think otherwise.

You would think major shareholders would put pressure on the board for a breakup to recover some value but no. With each passing day the equity is looking worthless and as with all stressed heavily in debt companies, D4E is often the outcome.

99.72% they all were 98-99% last year, incredible

Just a rubber stamp of the resolutions, based on last year trading update not until July, NA? doubt anything thing to report, would like to be proved wrong.

No doubt business as usual from the incompetant incumbents, talk about destroying shareholder value, they have certainly exceeded all expectations!

Needed to shake the management up remove Garat, general apathy regards major shareholders, Cosmens happy to let it sink, in the fullness of time we will find out why! Garat was not even taking to task regarding the shocking performance under his tenure at the agm.

I'm more pessimistic each passing day regards the sale price for NA, the cost of finance for potential purchases and poor profits does not bode well, could be a sale and cash raise. Based on what FGP recieved and last October press quoting anywhere up to $1.5b, more like lower end > $500m

Yeah it reads as a ticking time bomb, think 2008 banking crisis, CDO's off bal sheet debt shenanigans, marked to market, coming whom to roost, the CEO and cohorts are very close to secrewing MGC completely without a sale of NA at a decent price. No surpirse directors are reluctant to make meaningful purchases. Think Northern Crock, Brad & Bing, All & leicester, Halifax etc bailouts.

Cosmens not buying at these levels, aint committing more funds in case the shize hits the fan!

Resembling a clusterf**k, drip drip drip. 420p>53p, market has been right to short this all along until perhaps trading picks up in USA, NA sale.

If margins don't recover, trading/profits come under pressure with resulting unsurmountable debt/high hybrid interest rates and a rescue cash raise is required could/will Cosmens block , force a pre-pack or a firesale of ALSA. It really is concerning as to what their game plan/end game is here.