Manx Financial Share Discussion Threads

[gears] 22/11/2013 17:24

The last interim report :
The value of our banking licence and profit potential are not factors properly recognised by the market and we will be addressing this issue in the months to come.

[rpat2] 22/11/2013 13:45

Is news due?

[gears] 22/11/2013 10:53

On the up again. Bought a few & will add more if we get some positive news.

[castleford tiger] 20/11/2013 17:33

Steve
[e-mail]

[gears] 11/11/2013 22:45

Good to see the share price holding after the increase. Noticed on the Manx financial website the updated largest shareholders.

[nick rubens] 01/11/2013 18:33

well I've added a few more on this dip following that recent big 11p level director buy. There has been continued director buying, back in profits and very upbeat indeed on growth in addition to cost cut savings at the Interims.

[castleford tiger] 27/9/2013 18:38

Action today.

heavy trades and a nice move on a weak market

tiger

[castleford tiger] 24/9/2013 17:45

2.2 million late trade.

hold tight!!
Tiger

[castleford tiger] 13/9/2013 18:26

Of course mine didn't come today!

Nice new high again.
15/20p target?

Tiger

[gears] 13/9/2013 11:07

Yes 2 articles growth stock & undervalued.

[castleford tiger] 12/9/2013 23:29

Is it good?

[gears] 12/9/2013 15:19

Article in Investors Chronicle about MFX.

[castleford tiger] 24/8/2013 08:51

First the only loan with a Director was in August 2012.
Share price 3.5p.
The loan was convertible at 4p and 6p for each warrant..
Read it please.
REGULATORY CAPITAL..

it has access to ample funds.....but cannot be deployed due to ICAPP projections..
I wonder what shareholders would have said if asked for 6p a share to prop it up?
They are not GIVEN the shares but actually buying them in advance at 6p.

the terms state JM cannot go above 30%. That's the simple fact.

Why are you so upset? Are you a shareholder?

Tiger

[smithie6] 23/8/2013 19:01

"Indeed, in comparing the recently published 2.8% leverage ratio for Barclays plc (against the European Banking Authority's recommended 3%), on the same basis, we would currently have a ratio of over 14%. Thus the Bank is well placed to capitalise on the window of opportunity to lend created by the mainstream banks' weaker balance sheets which in turn cause them to be reluctant to lend."


says very clearly that the leverage ratio is low...
infers perhaps that there was no need to have raised the loan money from the dirs

Was it needed.....or were the dirs. merely filling their pockets with share options at 4p/share....as the co. turned the corner to profitability as expected ??

at present...imo it looks like the second of the 2.....
and hence that shareholders have been shafted

one expects the share price to more than half due to 135M new shares.
If the co. value is X......then if divide by 135M + 100M shares = 235M
then you get a much smaller amount per share than if divide only by the current 100M shares......the share price will respond directly.

[smithie6] 23/8/2013 18:57

"I am pleased to confirm that, as expected, we have now turned the corner into profitability."

Yet the co. allowed 1 person to make a loan in October...a.nd convert it to shares in May.....

when the dirs. expected the cahnge to profitability....
is that intentional self benefit ? ....at first appearance it sure looks like it !

a quick in and out and massive % personal gain....
and little risk since your loan is gteed by the assets of the bank...and you know that the bank has a low gearing level...

[castleford tiger] 23/8/2013 18:56

Smithie.

whats this about.

just tell me who hurt you and where?
Banks has convereted. Mellon cannot.

Tiger

[smithie6] 23/8/2013 18:48

Over at OCH ....the dirs. had just under 30%

they then put forward a proposal to shareholders to vote ...and it would have given them up to 80% of the shares. Luckily some shareholders were awake and drummed up shareholders.....and institutions.....and achieved a NO vote....
The co. then went into admin......but at least shareholders own 70% and have a chance of getting something back....whereas if they owned just 20% they would end up with no control and tiny part of the assets.

Oh....

at MFX the shareholders now own or soon will after 135M new shares !! ....no control and tiny part of the assets !!

MFX shareholders were all asleep and didnt notice......ah well.
Too late now !...the dirs. wont cancel those options for 135M shares.

[smithie6] 23/8/2013 18:38

Tiger
135M new shares

when around 90M shares in last annual report.

Do you agree ?

hence, do you agree large dilution ?
Did you realise it was 135M before I posted it ?

Hence do you agree that YOU will suffer large dilution of the part of MFX that you now own.....and that you will own a smaller part of it after dilution ?

[smithie6] 23/8/2013 18:37

1) Oh yes he can convert.

You watch him !
You think he made the loan convertible....to then not convert it !!

Sure....he may off load some first......or he makes an offer for the co. as reqd. if he goes over 30%....or he gets a shareholder vote on waiving the 30% rule...and since most shareholders will not bother voting...and his mates who are also waiting to convert and are large shareholders can vote yes to help him !!.....

and then in return he will be sure to help them if needed !

or
b)....the other loan holders convert their loans first..they have shed loads of new shares waiting as well....at 4p..and then surprise surprise...the current Mellon held % will reduce allowing him to convert some loan without going 30% and without having sold any...

or various other methods...

[castleford tiger] 23/8/2013 14:42

Likewise Smithie I have responded on the correct page.

I think we will see 15p very soon.
Tiger

[castleford tiger] 23/8/2013 14:38

Ok Smithie

Not sure how this popped up on your RADAR but here goes.
The money raised was needed to expand the business. It was
regulatory capital ( not just basic funds).

Which Directors are having us over?
A banks is not a director.
Jim Mellon said that he will not/cannot convert to above 30%

I think talk of ACTION groups is a little over the top. I am a shareholder and I knew.

My view is that Mellon and Co will drive this little bank forward and make shareholders money.

Best Tiger

[nick rubens] 22/8/2013 15:05

Managed to grab a few more this am.

Smithie I'll look into your claims when I have time but at the moment i'm holding MFX and adding. It's not my biggest investment but it's one of a few that are profitable and look like growing profits in the years ahead. A recipe for gains IMO.