Member Info for Redh3rring

Agree. The IP of the business in terms of their proprietary algorithms combined with brand presence even taking in mind the debt is surely worth more than £10M. Fear its too far down the line and mmag has been making the staff cuts in prep for this deal.

Any chance a former buyer could swoop in? Or unlikely now as AO too far down the road?

Back in the doldrums again eh?

Interesting reading on the Takeover Panel regarding the rationale behind extension of deadlines

“The Panel will normally consent to an extension of a deadline set in accordance with Rule 2.6(a), or any previously extended deadline, at the request of the board of the offeree company and after taking into account all relevant factors, including:

i. the status of negotiations between the offeree company and the potential offeror; and

ii. the anticipated timetable for their completion.”

Does point towards something more material bubbling away in the background, as MMAG would have had to evidence the material (& hopefully advanced) nature of the negotiations.

Imagine they would have submitted a timetable too (as part of a belt and braces approach to securing an extension) but no idea what a pragmatic and fair timescale would look like for a takeover of this nature, particularly considering conversations have been going on since November?

Why would Peter Hargreaves get out of bed to have the pain of a MBO/consortium and give time and effort to turning the MMAG ship. He’s worth billions. Also why would the directors remain in takeover period where they can’t buy diddly squat- that doesn’t suggest an MBO is on the cards. PKH I think wants a quick buck so Private sale is the only option for me.

Back in the doldrums again tapping one’s fingers…. May be a silly question but do we think this lack of movement on the takeover side is linked to the UK election? Ie overseas investors wanting political stability before progressing? Or do we think the investors are holding off till MMAG to demonstrate reversal of the trend though strong interim update? The cost cutting should start bleeding though now surely?

Yea just checked his posts and he had the same posts for THG, HELD and other stocks. Clear ramping

You’ve already said Moniman…

What?

The cofounder of Hargreaves Lansdown! Wow! Watch the SP shoot up now. If that’s not a confidence booster nothing is!

Definitely agree about some insider knowledge- hopefully this growth will expedite a bid! GLA

For what most will perceive as a redundant AGM (insofar as we learnt very little), the net inflows have been decent and SP is up WoW. Worth flagging that big buy yesterday. No smoke without fire- either people are believing the ship has been turned, which didn’t seem the case to me in terms of all the cost cutting measures have not yet materially cut net debt OR there is positive movement on the takeover front. I believe the latter. By remaining in takeover period the LT are unable to buy shares at a basement price. And we know Mr Oliver has the £££ after him and Mr Gleeson got a £22M payout from the IPO. By staying in takeover period it has also been keeping SP depressed which obviously affects liquidity when they have debt and tight covenants. JMO but knowing the business as I do I can’t see them being in takeover period without a realistic chance of it landing. Soon!

Anyway of viewing online?? It’s not available via investormeetcompany?

Anyone know if it’s possible to watch the Agm online & how to get the link please?

AGM next Wednesday. Thoughts on whether we will get an update on the takeover talks?

I largely agree with you Mike12345 but I’m left somewhat confused by the assumption that MMAGs Leadership team advised by Shore would be remaining in the offer period when they know the uncertainty is tanking the SP? Ie what possible rationale is there staying in the offer period unless something was potentially on the table? Also by staying in the offer period it means the directors can’t buy shares at this basement price - which makes no sense? Especially as they know they are righting the ship through the cost savings & moving away from rental.

Agree with your points Josey- why do you think they are staying in offer period? What possible reason could the LT (guided by Shore )have to remain in what most on here believe to be an implausible stasis? Which they know is the main reason for the collapse in confidence? I don’t buy incompetent leadership as a reason. Unless there is a lowball offer on the table which they are waiting for a positive quarter of trading to help bump the offer up? Puzzling times!

It’s crazy! mCap is less than the value of the inventory held end FY23-24 (£7.4M). Will the AGM stop the sp decline?

I very much agree. Why RNS at EOP on a Friday though? What’s the possible rationale?

You ok Rob?

Or too early to tell? 400k bought to 65k sold. Praying this was the nadir.

Also massive opportunity to tap into the vinyl renaissance if they can sort the p&p dilemma.