Manx Financial Share Discussion Threads

[bollers] 13/4/2016 13:22

I would have a thought a 30% drop in 4 weeks or so would justify an RNS, if only to say the directors know no reason for the fall.

[castleford tiger] 13/4/2016 13:18

Gears true which saves us 3 million x 7% 210k pa

That goes to bottom line right?

the price just keeps falling.

tiger

[gears] 13/4/2016 12:12

Tiger also if they take up the options no interest would be payable.

[castleford tiger] 13/4/2016 08:58

no I agree I feel the same.

I cannot work out the end game.

Maybe contact to the ind directors about the concerns re the interest rates being paid plus the overly generous options and warrants.

If the AGM was at a sensible time so I could fly in and out I would be saying something.
I think a letter may have to suffice.

There is of course the issue of ownership in so far as I don't think they can have 30% plus without bidding.
The next 14 months up to July 17 look interesting.

I have been patient and its time shareholders were rewarded .
They can have my money at 7% without any options etc.

Tiger

[bollers] 12/4/2016 12:24

Castleford Tiger, I agree something odd is going on. Regular persistent selling by I would guess, one large holder seemingly without regard to what they get for them.

This is one reason I dislike small market cap. AIM stocks - I've had it several times where the share price of an apparently successful company is driven down by constant regular selling of comparitively high volumes, then after a period at rock bottom the company is taken private or bought out. Tangent and Internet Q are recent examples. Getting cynical in my old age maybe.

[castleford tiger] 11/4/2016 16:46

yes but the company would get the 61 million x 6p therefore adding 3.6 million to NAV which is as of today 25% more than market cap.

Something very odd here in my opinion .
anyone going to the AGM?

[bollers] 07/3/2016 15:18

Do these figures/facts sound right? if the directors loan notes were exchanged for shares it would add 61M shares to the 102M in issue, diluting the eps to about 1.2p and putting the co. on a PE of 10

[nick rubens] 07/3/2016 13:02

I think short term sellers losing patience, that's all.

They should consider cancelling the loan note conversion option to directors and their current share holdings will soar in value to more than compensate.

At least this year should see another strong profitable growth year and that's without any bolt on acquisitions so far.

[bollers] 07/3/2016 11:49

So with the good results and tip in the press why the heavy selling today?

[wiseacre] 04/3/2016 13:11

How prescient you are Mr Rubens. Nice star par in today's Daily Mail market report. With a bit of luck we might get some director buying. The shares are stonkingly cheap!

[nick rubens] 03/3/2016 08:25

Results are great and I believe will be tipped in the days/weeks ahead. If we could only get a dividend policy in place then it would attract a lot more investors.

[martincc] 03/3/2016 08:10

Especially like the outlook comment -
'Thus I see no current reason as to why the year-end 2016 should not continue our profit growth at the same or similar rate.'

EPS 2.06p, looking for 2.7p next year?
Historic p/e 6 estimate fwd 4.5?

Outlook
I believe further liquidity will return to the traditional lending markets forcing pressure on yields and that interest rates in the UK will continue to remain at their historic low levels for most of 2016. With this backdrop, I believe that our lending strategy of growth through product extension will continue to be successful as we further increase our product range and source our liquidity through our fixed term rate structure. Our fixed term deposits will also provide a partial shield against yield pressure in the more competitive lending markets. Thus I see no current reason as to why the year-end 2016 should not continue our profit growth at the same or similar rate.

[martincc] 03/3/2016 08:06

Manx Financial Group PLC

03 March 2016

FOR IMMEDIATE RELEASE 3 March 2016

Manx Financial Group PLC (the 'Company')

Report and accounts for the year ended 31 December 2015

Manx Financial Group PLC (LSE: MFX), the financial services group which includes Conister Bank Limited, Edgewater Associates Limited, Conister Card Services Limited and Manx Incahoot Limited, presents its final results for the year ended 31 December 2015.

Jim Mellon, Executive Chairman, commented: "I am pleased to announce that we have secured a record Profit Before Tax for the year, which has increased by 34% to GBP2.31 million (2014: GBP1.73 million), providing a Return on Equity of 17.3% (2014: 15.9%) which, in relative terms to the banking sector, is extremely high."

The 2015 Audited Annual Report and Accounts will be available from the Company's website shortly and will also be posted to shareholders. www.mfg.im

Financial Highlights

Profit before tax: GBP2.3 million (2014: GBP1.7 million)
- up 34%
Profit for the GBP2.1 million (2014: GBP1.6 million)
year: - up 32%

Net interest income: GBP14.6 million (2014: GBP10.8 million)
- up 34%
Loans: GBP101.4 million (2014: GBP89.3 million)
- up 13%
Total assets: GBP130.0 million (2014: GBP119.5 million)
- up 9%
Customer accounts: GBP106.3 million (2014: GBP100.3 million)
- up 6%
Earnings per share: 2.06 pence - (2014: 1.56 pence)
up 32%

[castleford tiger] 19/2/2016 12:51

Don't think they can pay a dividend till the losses are cleared.

Some beancounter can explain that for me.
tiger

[nick rubens] 19/2/2016 12:28

Results were around early March last year? A few PI's buying ahead of results. If they are as good as expected at around minimum £2m and with a confident forward looking statement, then it will be difficult to buy in size.

A dividend would be welcome.

[castleford tiger] 19/2/2016 12:24

20k to buy is 12.5p
there is just 500 shares at 12p left and you can sell at 11.88

[martincc] 19/2/2016 11:50

MMs moving up again, last one on 12p offer

[castleford tiger] 19/2/2016 11:42

I have 2.96%.

Very close to having to declare.

tiger

[martincc] 18/2/2016 14:34

Just been looking a co. website. No announcement re upcoming fins. that I can see, was 2nd March last year. Also found 59.3% of shares not in public hands so limited free float.

[castleford tiger] 18/2/2016 13:51

have we announced a date re results?
Tiger

[nick rubens] 18/2/2016 13:07

Two weeks to full year results and the market is noticing.

[castleford tiger] 04/1/2016 18:26

2 million profit ( my target ) I am now very confident will be broken on the upside.

Jim just get rid of those options that's holding the price back and then we can use the paper to buy other companies.
First we need a fair valuation eps 2p x 15 x = 30p share price.

then lets bolt some on.

tiger

[rafboy] 04/1/2016 11:14

Taken a small position here and will see how we go.

[flashheart] 04/1/2016 09:46

Kicking up nicely now.

[flashheart] 02/1/2016 21:03

Hi all. Seems a very interesting proposition here and looking intently at taking a position. Being a Jim Mellon fan, can anyone tell me how long he has had an interest here (in any capacity)? Thanks in advance.