Manx Financial Share Discussion Threads

[trav5] 06/10/2014 09:52

Not surprised to see the continuing share price fall. The board have IMO showed absolutely no regard whatsoever for their shareholders and Messers Banks/Mellon are quite happy to continue lining their own pockets!

[studentinvestor13] 03/10/2014 08:11

Arron,

Would you forego some of all your warrants for the good of the share price and would the directors do the same? I really like Manx Financial but there are too many warrants in issue so the share price is not going anywhere fast so Im not buying. This would be 20p+ without most of the warrants.

SI13

[tom long1] 08/9/2014 16:31

Conversion won't have any effect on the share price as the shares are currently being valued on multiples of diluted P/E - even so MFX are undervalued by this measure as well as metrics for valuing a financial services company ie.Their closest peer 1PM and others are valued at 50% of their assets ; apply this to MFX and it should have a market cap of £50m - 3 times its current market cap.

All I know is MFX had assets of £67m 2 yrs ago now they have assets of £102m, a cashpile of £5m and increasing profit heading for £2m a year.

Whats going up ( MFX assets/margin ) Must eventually Go Up ( MFX share price )

[gears] 08/9/2014 08:18

I too have been puzzled by the figures & not sure what effect the conversion would have on the share price.

[m1keg] 05/9/2014 19:53

Can somebody help me understand this?

Basic Earnings per share of 0.71 and diluted of .47 with shares in issue of 102070252 means there would be 154191232 shares in issue after dilution. An increase of some 52.1 m shares.

However warrrants only add up to 36.6 m shares and the total loans that can be converted add up to 61.5 m shares. These figures do not add up at all.

Maybe the quote from the interims magically covers the behind the scenes calculation.

Quote
With respect to the convertible loans, the interest rate applied was deemed by the Directors to be equivalent to the market rate at that time with no conversion option hence no equity component has been recognised with respect to any of these loans.
Unquote

Anybody know what this means? If I have made an error in calcualtion would appreciate being put right.

MikeG

[m1keg] 03/9/2014 10:01

Take some time at 8 shares a pop!!

[castleford tiger] 02/9/2014 17:41

The market decides what value to place on the shares.

we have to select buy or sell if they get it wrong.

This is now a pound for a ten bob note.

Happy to keep getting back to my original stake.
tiger

[supertag] 01/9/2014 14:16

Not happy with this one at the moment. Despite very good results no real increase and now dropping back. Will hold and see what news emerges in the next few months.
GLA
Supertag

[fruitninja84] 01/9/2014 13:36

Getting wacked ,

[castleford tiger] 26/8/2014 09:04

The sellers will be coming.........

It will at least give me a chance of building my stake back up to just under 3%.

Tiger

[el1te] 26/8/2014 08:27

Very solid numbers. Would have registered a half-on-half increase in PAT had it not been for a breakeven half at Edgewater and the increased impairment provision.

Should be able to get on track for £1.6m+ PAT for the year during H2 - usual sell on news investors taking their profits. Bit of a lack of liquidity is a concern though with the markets looking weak. May look to take profits

El1te

[castleford tiger] 26/8/2014 07:32

Stonking numbers.

The shares are too cheap.

Tiger

[castleford tiger] 20/8/2014 06:22

The results are getting better and better. , and the key number to look at is deferred income , it's dramatically up because you only recognise part of the income. As this flows through profit should increase rapidly. !

POST 283.

We may have had a preview ? unless this comment refers to the last half year.

Either way roll on 25/30p

Tiger

[el1te] 19/8/2014 23:28

Scheduled for next week

El1te

[suetballs] 19/8/2014 22:57

Nice rise again today - when are the interims?

[el1te] 18/8/2014 10:29

Thanks for the additional clarity - much appreciated

El1te

[castleford tiger] 18/8/2014 09:55

Welcome Mr Banks.

Pleased that you agree with me and are happy to see the turnaround continue.

The NEDs are doing a great job and hopefully we can make the 30p that I think the shares are worth.

I am more than happy with the current performance.
Market needs to move price as no stock available even after a .5p increase to 15p this morning

Tiger

[mister big] 18/8/2014 00:28

I'm afraid you are wrong - we have already converted our bond in to shares , therefore Jim stake is reduced in percentage terms meaning he can convert when he chooses to .
The comments re over paid directors are very wide of the mark - neds of a bank have an almost full time job ! ( not paperwork lite ! )
The results are getting better and better. , and the key number to look at is deferred income , it's dramatically up because you only recognise part of the income. As this flows through profit should increase rapidly. !
Happy shareholder
Arron

[el1te] 16/8/2014 18:38

Point clarified.

[castleford tiger] 16/8/2014 18:23

Sorry guys but you are wide of the mark.
The returns from 4p to 16p have been good.
Not so good if you bought at 80p.

Simple answer is that NO he cannot convert to go over 30%.

This company has once again this week come out with news , IGNORED by most on here.

I remain a buyer and bought what I could Friday and will continue.

Tiger

[trav5] 08/8/2014 23:42

I see nothing has changed here Directors still running the company for their own benefit at the expense of their shareholders!

[m1keg] 07/8/2014 10:10

Sandbag,

I don't know. There are loads of issues here and I freely admit I "Know" sod all about the possible outcomes. This is a bank so you cannot just willey nilly change owner but its controlled by a wealthy few who can do what they want really.

They show no restraint in looking after themselves first and foremost.

Mike

[sandbag] 07/8/2014 08:59

M1keG,

Does the offer have to be a realistic one. i.e can he put in a silly figure that would be rejected?

[m1keg] 06/8/2014 22:00

Sorry, I forgot to thank you for the excellent work up you did.

Don't know if you pondered this? If you own 29+ pct how do you convert warrants that take you over 30+ and a mandatory buy out offer?

Maybe if Mr Banks starts selling maybe we should expect the conversion?

[el1te] 06/8/2014 21:10

Admittedly a couple of past decisions (scale of warrant granting) are questionable, although would wait for the upcoming results before passing further judgement. Appear to have turned a corner such that shareholder returns can continue to be delivered.

After all, the share price is up significantly over the past two years, despite the large number of warrants

El1te