Maelor Share Discussion Threads

[waxman3] 18/1/2008 16:22

THEY USUALLY DO, BUT IF THE MANAGEMENT CANT SUPPORT THE SOME WITH SOME GOOD NEWS WHY SHOULD THE INVESTORS.

[gerri-c] 18/1/2008 15:00

Even though the share price is down buys seem to outweigh sells today.

[shuisky] 17/1/2008 13:43

???? Why are you all concluding that the defult trade in MLR is a sell?

[waxman3] 17/1/2008 13:21

Same thing, as the share price is a reflection of the company that the whole world sees-

Today its a dog defying all the experts and standing still or falling the need for news updates on a regular basis is obvious otherwise you will get the continued stream of sellers.

[gogoneko] 17/1/2008 12:14

The company's not a dog, only the share price! :(

[waxman3] 17/1/2008 10:05

Down yet again---what a dog this has turned out to be.

[waxman3] 15/1/2008 20:36

You are probably right unless there is good news flow which of course is long over due

[gogoneko] 15/1/2008 19:26

I still feel that as strength continues to be sold into (I think another 300k were offloaded at 14p in the past week, so maybe only another 5.4m left) in these market conditions there's a danger that the share price fall could gain momentum and we may be back touching 11p again in the next few weeks.

[rcktmn] 15/1/2008 18:35

not many shares are in the current market conditions... so far, I think this has held up well ! (famous last words!)

[waxman3] 15/1/2008 17:21

not a loved share this one

[gogoneko] 31/12/2007 14:28

I expect that was a 250,000 sell at 14p by Liontrust having had plenty of buys in the past couple of weeks probably by folk expecting a 2008 recommendation for Maelor. If so, only 5,775,000 shares left to find a home for and with this pessimistic prospect I'm out and gambling on being able to get back in for cheaper during Feb/Mar during a general market downturn unless there's news from the company - even though I think that the share price today should be 20p+.

[gogoneko] 17/12/2007 13:03

"Liontrust Investment Funds Limited is the operator of a number of authorised
unit trusts, the underlying assets of which are managed by its sister company,
Liontrust Investment Services Limited ("LIS"). LIS also manages under discretion
some segregated portfolios, three investment trusts and two unregulated
collective investment schemes."

Some of the funds managed by Liontrust are in the name of State Street Nominees limited, who took up 11.2m shares @ 10p to part-fund the acquisition of Acorus (see relevant RNS info).

The selling is likely to be opportunistic profit-taking - very easy money when organised professionally! ;) What's worrying is that Liontrust still have 6.025m which perhaps they are waiting for strength to dump into.

[shuisky] 17/12/2007 11:50

g,

I'm trying to understand this stock better. From reading the above, it seems that Liontrust picked up some stock cheaply in the past. Do you have any more info or links into that activity?

The selling may well be some opportunistic profit-taking, by an investor who wants to reduce weighting and make a quick buck.

[gogoneko] 14/12/2007 17:53

Thanks escondido,

Maelor's getting tipped left, right and center but sadly at a time when a major shareholder is dumping so is it worth investing now or waiting until the overhang is cleared? Probably the latter. But if nobody invests now the overhang will not be cleared because there'll be no strength to sell into, so it feels like we may as well sit on our hands for the time being :(

Not sure who wrote the article but their "pitfalls" include a bum bit of info in that Maelor avoids development costs by concentrating on late-stage or existing products, and they've already got a £2m loan facility (on top of the £1.7m cash) to tap into if necessary for further acquisitions and/or development costs. They're also not apparently up-to-date on the acquired Acorus sales channels diversifying activity outside the UK either. But it's always good to provide reasons not to invest.

I expect that as previously the MMs raise the price when a tip comes along and then drop it back a few days later because they know it's going nowhere.

[escondido] 14/12/2007 16:10

been following this share and very tempted to take a modest stake.
Nice little article in moneyweek (which also comments on edison note).



pages 10/11

Currently spending more time in the US and can you believe it mrsa is a growing problem in schools over here.
Think the hai area could be huge for mlr as this problem is likely to get worse before it gets better.
all imo etc

[gogoneko] 13/12/2007 00:51

stewacg,

Sadly, even though I'm complaining, I'm aware that PIs would have dumped a lot more recklessly than Liontrust and we'd be sitting at 10p now if PIs had been offered shares at a 30% discount to the market price. They should have had a rights/open offer like you say, but at the market price as we'd still be where we are now so the company would be undervalued, but at least all supporters of the company had the potential to make an early return on investment if they'd so wished. I expect some institutions had objected to that because they expect preferential treatment for buying in, especially given Maelor's past performance.

[stewacg] 12/12/2007 20:29

gogoneko, totally agree with you that companies ought to rely far more on rights issues open to all shareholders. Those days seem to have passed, and its a shame. Perhaps if the credit crunch persists they will make a welcome return!

[gogoneko] 12/12/2007 18:19

The situation plays into the stock exchange "exclusive members club" scenario too comfortably for my liking. Sure they're welcome to make their money but: 1) it's come far too easily; and 2) the privilege wasn't granted to all. Those excluded have not been able to benefit from the improving prospects of the company despite theoretically having equal rights, and that's not fair. So in this respect I think that the management made a mistake and I'm sympathetic to those who'd invested in good faith yet who cannot capitalise on their investment in the same manner. For me however I find it frustrating that the company is becoming increasingly undervalued and I would very much hope that management are frustrated also at the prospect of delivering so little value to shareholders so long as Liontrust (and others) continue offloading perhaps for many months to come - they've shot themselves in the foot. I had originally been in favour of the 10p issue but that was based on the privileged investors holding onto their shares for long-term reward and not surpressing the price.

[pheasant1] 12/12/2007 14:42

Gogoneko, a quick look at the Liontrust website suggests that they do NOT invest via the VCT rules - which require that investments have to remain in place for 3 years before the initial tax benefits apply.

On that basis, if Liontrust came into MLR as a plain vanilla equity investor, they are free to sell whenever they choose. Assuming they bought at 10 pence, then selling on in the 13-14 pence band nets them a nice quick profit. I think it's safe to assume that Liontrust is in it for gain, so I fail to see how we can reasonably expect them to hold their entire holding on a long term basis.

There's nothing wrong with booking some profits from time to time, is there ?

[waxman3] 12/12/2007 11:15

yes you are right I have always followed Jim Bently Davies on this one. Seems he can spot what is or What is not in the best interests of shareholders.

[alibongo612] 12/12/2007 10:40

piruxi is conspicuous by his absence having once been a several times daily poster.

He must have finally realised that no matter how many times you say "50p iminent" it doesn't make it happen.

[gogoneko] 11/12/2007 23:15

I hope that someone does approach MLR with a hostile bid at some nominal amount above today's share price to give management a boot up the backside. Previously I'd supported them for getting the support during the acquisition but I now reluctantly feel that they deserve to be undervalued for their assumed clumsiness in having given away big tranches on the cheap to weak holders.

I cannot understand the actions of Liontrust - maybe there's a rule which says that it will be taxed punitively when the gains on investment exceed 40%. I also cannot believe that the management intended the share price to be trading at these levels after delivering an otherwise excellent performance to date. During the acquisition they clearly stated their intention to deliver shareholder value and so far that has failed to materialise as they have only delivered an increasing undervaluation - and to my knowledge that isn't what the investment community expects a company to achieve.

At this rate we'll maybe have to wait for another 12 months before Liontrust have dumped the remaining 6m shares they hold for 14p so maybe by Jan 2009 we'll be leaving 15p behind! I also cannot figure out why another institution doesn't step forward to buy the remaining shares of Liontrust.

Hmm, rant over!

[stewacg] 06/12/2007 19:03

alftupper, I don't agree that this company could be bought as a steal: the current management clearly have their heads far too well screwed on to allow any cheap buyout. I have added to my stake several times over the past year, particularly since the last results announced such rapid progress in the market share of Volplex (in a critical and highly competitive area). If that achieves really good penetration in the UK, it will become increasingly easy to market overseas. But that is, of course, one of quite a few exciting strands. Hopefully Maelor will soon head for the long overdue market recognition that Advanced Medical Solutions suddenly achieved in the Spring.

[alftupper] 05/12/2007 11:11

Any company with any sense would pick up MLR - it is a steal and they are vulnerable

[gogoneko] 01/12/2007 11:48

Access to some recent write-ups can be found from the Maelor website:




There's a new one from "Investing for Growth" and a detailed Edison Research note giving estimates up to 2010 - well worth a read.