Member Info for You_Having_a_Laugh

Good if they have been bought back. All helps.
As the buy back is out of MMX hands they can get on with it.

Any change to buyback could be taken as tacit acceptance there is a case to answer so it must continue.

Others hanging around in the wings to buy lower if there is weakness.

Interesting. If there was a formal investigation into the ICM purchase at the MMX end I would have expected some announcement pretty soon.

As is, there has been selective disclosure of action to this PBB with no company announcement. Selective in the sense that only readers here have been informed. Would expect the company to level the field by formally announcing.

As is, there could be multiple reasons for no news.
Not very fair to selectively scare some holders and not everyone at the same time!
That is not MMX's fault.
Proper channels should have been used.

SB, I've stated more than once. Any weakness on news of legal action will be met with buying, not just from the buyback.

Will be useful to see if a buyback RNS occurs for todays activity. Hope so.

Too many unknowns. Assume nothing.
We don't have a clue on the wording of any warranty.

We do have figures post formal investigation - cash in bank and proper allocation of revenue back dated. Those are known go work from.

Nowhere near Wirecard.
The investigation was formal.
It was REVENUE RECOGNITION.

DrK, where do you get that figure?
Look at the restated figures after revenue recognition correction.
Where is your calculation .
You assume there is a breach.
We don't know.

All approx, close 3rd May 2018 at 10.1p.
MMX had 699,857,562 shares in issue giving a £70,685,613 market cap.
Acquistion of ICM announced 4th May 2018.

If warranties offered by the buyer were breached what would be the loss to the seller as a consequence?

Cash doesn't lie and we have restated figures issued recently on depature of CEO/CFO on revenue recognition grounds.

Until court papers are served it's speculative.

SJL, if I remember correctly, would be happy to settle in shares if there is a case with finding in his favour? I think that is somewhere in this thread.

If we get no RNS relating to the ICM "event" it could mean no case to answer so no need to inform the market until court papers served. Until papers are served it'..?s

"The Company and the Vendors provided customary warranties to each other in relation to the Acquisition,"

Very much doubt the buyback will be suspended and if not it will be a good indication. Same for any tender offer.

There is far too much expectation as to the outcome.

PI's will sell low. I expect others will step in & make the money. Sadly.

Trying to get clever by selling and buying back can work, sometimes, but here there is a buyback active and others will also buy.

Meanwhile there is no proof of wrongdoing, no RNS yet, no idea of any liability value and no idea when any liability (if there is one) becomes due.

Playing out a possible action against the company on a PBB is not totally fair.

I hope any statement from MMX states there is no merit to the case and they will defend vigorously.

Good luck.

It's amazing how anyone can tell if there is a liability, the value of such if there is or when it might become due.

Any change could be interpreted as admission of some wrong doing.

Carry-on as normal. Not as if MMX is handing the buyback is it?
Same for tender offer.

n

I doubt there are any assurances that can be given to avoid the legal path.

If so the longer it takes the better as paying it off in shares should be at less dilution (higher share price by then) or the cash cost reduced by financial repression (inflation > interest rates).

Let's see.

There are 2 other areas to consider too to help but not for discussion on a PBB.

Everyone is assuming any action will be successful.
A fait accompli.
Assume nothing.

Davand, not just the buyback will be active. There will be money from other sources ready and willing if the price were to fall enough. Slowly long term holders are being replaced as they sell low at a loss. Others will make money on the recovery.

Lots of assumptions here.

If I was MMX I wouldn't have responded to the request and if there are no grounds there is no need to respond. This is quite normal.

Volunteer nothing, use the recognised channels.

SJL hasn't done himself many favours by posting here either. Why should there be any goodwill? Why should there be any non-public disclosure to a 3rd party who have no affiliation to the company?

Legal channels are the only way forward.

Let the games begin.

I'm not sure it means they think you are bluffing, will go away, or they have something to hide SJL.

It could just be a "foxtrot oscar" to what was once a large shareholder that dumped to zero. Why do anything when there is no need? If you were still on the register the response may have been different.

There is no longer any relationship to nurture. No obligations outside of that demanded should a legal action proceed. There could be cost associated with delivering information so why incur it unless absolutely necessary?

See what happens Monday/Tuesday, probably some RNS stating the company will defend vigorously.

Good news is the buyback is not in MMX hands so there is a chance they will offer a bid on weakness and more stock will be taken off market cheaply.

It's pretty comon for a company to shun requests for information post transaction. Best for this to go to legal folk to sort out, speculation and conjecture on a PBB won't achieve anything.