Share Name Share Symbol Market Type Share ISIN Share Description
Manx Financial LSE:MFX London Ordinary Share IM00B28ZPX83 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.25p +2.82% 9.125p 8.75p 9.50p 9.25p 8.875p 8.875p 90,253.00 09:45:47
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 1.7 1.6 5.8 9.31

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Manx Financial (MFX) Discussions and Chat

Manx Financial (MFX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
11:55:548.784,574401.60O
09:45:339.1733,1743,042.12O
08:23:339.5052,5054,987.98O
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Manx Financial (MFX) Top Chat Posts

DateSubject
07/12/2016
08:20
Manx Financial Daily Update: Manx Financial is listed in the General Financial sector of the London Stock Exchange with ticker MFX. The last closing price for Manx Financial was 8.88p.
Manx Financial has a 4 week average price of 7.41p and a 12 week average price of 7.71p.
The 1 year high share price is 12.75p while the 1 year low share price is currently 6.63p.
There are currently 102,070,252 shares in issue and the average daily traded volume is 62,856 shares. The market capitalisation of Manx Financial is £9,313,910.50.
12/6/2016
09:59
value viper: like it M1ke.......any reason you not on my more recently created thread ? I set it up hoping it may turn the share price at some point ?!
10/5/2016
14:37
value viper: maybe a new thread may change the direction of the share price
04/1/2016
18:26
castleford tiger: 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
27/4/2015
10:03
smithie6: ...interesting to see ppl not happy about options & warrants..and dilution... ..recalling I created a thread along those lines in Aug. 2013...& ppl criticised my posts...whereas many posts now seem to be saying there was logic/truth in what I wrote... Share price fallen from then to now. .btw Jim Mellon & Aarron Banks...still on Blacklisted page on website...( do all ppl have less integrity the richer they get !?) AIM needs regulating...only happen if regulated by ppl that are independat /separate from its owners who will only worry about their own pockets and not PIs savings... @fulltimeinvest
10/3/2015
21:59
m1keg: Value of shares version 2 Who What Amount Date Loan Conv. Interest No.Conv. Conv. To L/W m Conv Rate Rate Per Yr Shares m Value m ---- ---- ------ ---- ---- ----- -------- -------- -------- JM L 0.50 2017 7.0 4.0 35000 12.50 0.50 JM L 1.25 2020 6.5 9.0 81000 13.89 1.25 JM W 8.30 2017 0 6.0 0 8.30 0.50 BL/JM L 1.20 2017 7.0 4.0 84000 30.00 1.20 BL/JM W 20.00 2017 0 6.0 0 20.50 1.20 SR/AB L 0.46 2020 6.5 9.0 30000 5.10 0.46 SR/AB W 8.30 2017 0 6.0 0 8.30 0.50 COC L 0.35 2017 5.0 0 17500 0 0 COC L 0.15 2017 5.0 0 7500 0 0 UP L 3.26 2019 5.3 0 173000 0 0 ------- ------- ------- 428000 98.09 5.61 Loan Conversion only 61.49 3.41 Total number of shares would be close to 200m if all the above shares converted. I cannot see how either JM or AB could convert anything like they have the options for without going over the 30 pct limit and would have to submit an offer for the company. If I leave the warrants to one side and just use the number of shares calculated by the fully diluted values in the annual report or sum of converted loans (approx 163m) the recalculated P/E values are: Our fully diluted P/E now is 12.5 / 0.98 = 12.755 which seems historically at least, fair value. You have to remember that the fully diluted P/E would bring the company some 3.41m which would add some 2.1p to the share price so really our fully diluted P/E as of now is (12.5 - 2.1) / 0.98 = 10.6 which is under the long term average and makes us undervalued. Assuming they can increase profit by 0.5m in 2015 and again in 2016 then if the rest stay the same and the market continues to undervalue the shares we would have P/E's of. 2015 (12.5 - 2.1) / 1.29 = 8.06 2016 (12.5 - 2.1) / 1.60 = 6.50 Share price in 2016 just on P/E 12-15 would be: Note: Made a mistake in last calculation here as well. P/E 12 = (1.6 * 12) + 2.1 = 21.3 P/E 15 = (1.6 * 15) + 2.1 = 26.1 P/E 20 = (1.6 * 20) + 2.1 = 34.1 How the warrants can affect these values is uncertain at the moment. Without a placing to increase number of shares to an unconnected person the warrants would seem not to be convertable without a offer to buy company. Not sure anybodies idea is to take this private? Maybe some kind person would ask at the AGM? Very Good long term hold in my opinion, even with uncertainty of warrants and lack of managements communication with shareholders or the world in general. I don't know enough about the bank capital side to have an idea when a dividend could be paid but that was JM's stated intention a couple of years ago. I've made so many mistakes in these calculations before I would double check the above and any assumptions I made. MikeG
06/3/2015
18:22
m1keg: Value of shares. From what I read, the long term P/E of banks is between 12-15 though 5-45 seem to be the extremes of pessimism and optimism. Our fully diluted P/E now is 12.5 / 0.98 = 12.755 which seems historically at least, fair value. You have to remember that the fully diluted P/E would bring the company some 5.6m which would add some 3.5p to the share price so really our fully diluted P/E as of now is (12.5 - 3.5) / 0.98 = 9.2 which is under the long term average and makes us undervalued. Assuming they can increase profit by 0.5m in 2015 and again in 2016 then if the rest stay the same and the market continues to undervalue the shares we would have P/E's of. 2015 (12.5 - 3.5) / 1.28 = 7.03 2016 (12.5 - 3.5) / 1.58 = 5.69 Even if the market moves us back to the historical P/E share values in 2016 should be in the region of 19 - 24. Optimist view. We make or exceed the assumed rise in profit and the market learns about us and the P/E moves to 20 or above. Pessimist view. We don't make the increase in profits. Company has to wipe off 600k in VAT on the books, Prepaid card scheme that nobody else can make pay follows the same path and just turns in a loss but gives a job to a mate. World view remains that bank is being run to pay top management and plaything for super rich. Personal view. The bank now appears to be putting some serious thought and actions into how to lend more money via new routes to market and looks far more professional in doing that. Completely agree in the worldwide IT based expansion, just find a way to market the only Isle Of Man Bank and offer competitive rates when the users appear. We have a natural 11pct advantage in corporation tax over UK competitors? Not going to get one, but I'd like a statement that the full dilution will occur shortly (mainly so I can get some cash together to buy on the drop!!). On the prepaid card scheme I'm not convinced. I have one that I use on sites I'm not familiar with or trust. It cost me 5 quid to set up and is free forever if I use it every 6 months. I keep 40 quid on it for emergencies and if I need more I bump it up minutes before I use it. Best of luck trying to make money out of that! Although I will never agree that senior management are worth the money they are paid (in virtually any UK / IOM Company) and are actually now ruining the very idea of capitalism amongst many sane people, this company will eventually in my opinion become better known. May take 2-4 years but we have a reasonable stake and can wait that long to get rich. Would appreciate if somebody could double check the figures. I'd be interested in a discussion on just what steps mfx could take, that are reasonable, to make itself more open and attractive to investors. I'll give you three to start with: Don't f'ing release your results without having the good grace to tell us or at least move the date from estimated to confirmed on your website. Don't let me read for the first time in the annual report that we have commenced trading in both the Isle of Man finance broking and the Isle of Man foreign exchange broking markets. We now have three new business streams, if they are so dammed good then give an estimation every three months on their progress. The constant trickle of good news is a great driver of perception just like no news means we don't give a dam. MikeG
03/3/2015
12:19
castleford tiger: JM - Two loans, one of GBP500,000 maturing on 31 July 2017 with interest payable of 7% per annum, and one of GBP1,250,000 maturing on 26 February 2015, paying interest of 9% per annum. Both loans are convertible at the rate of 4 pence and 9 pence respectively. JM is also entitled to 8.3 million warrants at an exercise price of 6 pence which lapse on 31 July 2017. See note 30 for an extension of this loan note subsequent to the year end. BL - One loan consisting of GBP1,200,000 maturing on 31 July 2017 with interest payable of 7% per annum. Jim Mellon is the beneficial owner of BL and Denham Eke is also a director. The loan is convertible at a rate of 4 pence. BL is also entitled to 20 million warrants at an exercise price of 6 pence which lapse on 31 July 2017. SR - One loan consisting of GBP460,000 maturing on 26 February 2015 with interest payable of 9% per annum. The loan is convertible at a rate of 9 pence. SR is also entitled to 8.3 million warrants at an exercise price of 6 pence which lapse on 24 October 2017. Arron Banks, a significant Shareholder, holds a major stake in SR. John Banks a non-executive Director is also a director of SR. See note 30 for an extension of this loan subsequent to the year end. SO i get 8.3 plus 8.3 plus 20 =36.6. It should also be noted that they are not free but 6p. Therefore with the share price at approx. 12p but them paying half this they can be divided by two. Clearly the number of shares rises by 36.6 million but for dilution purposes its half that as the company will receive about 2 million pounds to issue them. tiger am I wrong?
02/3/2015
16:04
gears: Good results. The options & threat of dilution in my view have held the share price back.
08/9/2014
15:31
tom long1: 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 )
09/1/2014
19:17
smithie6: How far will the price fall when they exercise them and produce large dilution ? Will it happen this month ? How much dilution will there be ? How far will the share price fall ? (shareholders wont be applauding so much on the day that happens and the share price tumbles......maybe they should read the accounts) ---- "Shares do not tend to drop in value when directors take options." Jim Mellon has 1.7M pounds debt, convertible at 4p....with warrants at 6p (written so that no one understands it !) 42.5 million shares at 4p and 28M at 6p say 70M shares. Mr A Banks 12M at 4p 8.3M at 6p = 20M = 90M in total imo (and you lot are all imo too dum to see it) Start loosening those trouser belts.....they might be along to reem shareholders at any moment ! ---- 90M news shares. "Shares do not tend to drop in value when directors take options." You sure ?!...wharghhhhhhh ---- ADVFN says that around 100M shares. If issue 90M new ones then current shares will be approx. 50% of the new total. So, if you own 1% of MFX now..1% of its assets, 1% of its annual profit..after the dilution you will own around 1/2% of those things. HALF. If you think that is good news for you, you must be nuts. ---- At current share price the cap. value would suddenly double if the share price stayed the same. Without any change to earnings or business. If cap. value and business and profits stay the same then the share price will approx. HALF. Enjoy. (the dirs. are not stupid so one assumes they will drip feed the conversion......but the end result is the same) --- imo one could argue that the ord. shareholders have been robbed by the issue of those large convertibles loans.
Manx Financial share price data is direct from the London Stock Exchange
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