Member Info for zccax77

By the end of the week? Shorters will bury this.

If anyone deserves the Ftse award for value destruction it should be the BoD of MTRO. One stupid move after another. I can see why this is the second most shorted stock in the UK. The Hedge Fund's can tell a bunch of imbeciles a mile away.

The BoD cannot unilaterally off II's such a huge discount and dilute the interests of PI's.

Well if we get that kind of discount I would expect PI's to be able to participate as well. I would happily buy at that level.

I would ignore. Who knows when we will be put out of our misery.

The only thing we can now hope for is for a PE outfit to come along, buy a big position and boot out BoD and take the reigns. Look at what PE have achieved with OneSavingsBank, highest ROE in the sector.

This of a horrifically low number, divide by 2 and expect this to get below that price within a few weeks.

Now below 850p

I agree with the article, but the price of this going down has nothing to do with the business. It is going down simply due to the ineptitude of management, how they could not have foreseen the effect of the unpriced RI is crazy. Expect this to continue falling, there is no bottom to this. The shorters will short this to oblivion since no investor will buy due to fear of a huge discount at RI time. Would you buy when you could possibly get these 20% cheaper in a few weeks time. The BOD should cancel the RI, sell assets and bring the RWA down and curtail their growth plans. They have lost £1.3bn of MC over nothing.

Before RWA debacle = MC = £2.2bn
After = MC £0.85bn +RI £0.35bn = £1.2bn
Where did £1bn MC go?

upwards of £12.

At these low levels I would love it if an activist investor brought a tonne of shares came in and kicked the BoD out including Vernon and managed the business going forward. Elliott Advisors are you listening?

After the RI this will fly up.

I am virtually certain this RI will be open just to II's at market value hence no need to get PI's involved. The II's will lap these up since it dilutes the PI's share at this artificially low price which the BoD have created by announcing the RI without a price. Since this share will only be shorted and not brought due to this uncertainty.

Another few days of 3% falls and the rights issue = market cap.

The BOD have really painted themselves into a corner with the RI without a price debacle. Holding all shareholders hostage to short sellers. No one will buy these until this is resolved.

Hard to believe but Onesavings was rescued by JC flowers in 2010 for £50mn due a capital deficiency, now it is one of the most profitably banks out there with a market cap of £1bn and book value of half that. Just goes to show the value which could be extracted from MTRO with the right skillset. No way will the current management sell this off on the cheap.

Not sure if Vernon and his mates will want will give up on their dream so easy and sell out at the bottom of the market. Big Ego's and all that.

Current market cap £0.85bn. Well done BOD and shorters!

It is crazy the the market is being so ars*y over RI. I work for a financial firm and we often go cap in hand to our parent for additional capital. Only this year we got a $100m due to massive losses. This is such a non-issue.