Metnor Share Discussion Threads

[rainmaker] 06/3/2009 01:45

I note that a couple of years ago Metnor(MTG) were trading at over £4

regards

[rainmaker] 06/3/2009 01:43

A couple of interesting points from the following extracts from their statement, one the Company intend to continue to carry on and operate the business in the same manner so I would expect, conditions allowing, for them to continue to pay shareholders a dividend and secondly, the shares will be tradeable on a matched bargain basis meaning that they will have to be a buyer for your exact number of shares should you wish to sell unless the Company decides to buy back it's own shares for cancellation but obviously you will have to take the price they are offering but you are not obliged to.



STRATEGY FOLLOWING THE CANCELLATION


"Following the Cancellation, it is the intention of the Board to continue to
operate the Group's business in the same manner, and with the same objectives
and strategy, as at present. The focus, however, will be on a medium to longer
term horizon and will concentrate on realising value from the Company's
investments in development properties that have been made over the past two
years."


"The current economic climate, and in particular the shortage of bank credit in the market as a whole, means that it is likely to take some time before the
Company is able to achieve its objectives but without the need to satisfy short term expectations, the Directors believe that they will be able to maximise returns over time."


"Following the Cancellation, the Board intends to continue to keep Shareholders informed of the Company's financial and operational performance through regular updates on the Company's website: www.metnor.co.uk."


"Finally, the Directors have reviewed the Board structure, as announced on 24
February 2009 when Stephen Rankin assumed the position of Executive Chairman
following the departure of the previous Chairman, Peter Cussins. The Board
believes that, as the Company will no longer be an AIM company following the
Cancellation it will no longer require the services of Non-Executive Directors
and Stephen Rankin will accordingly remain as Executive Chairman. The other
Executive Directors also intend to continue to serve the Company and to continue to lead its direction."


FOLLOWING THE CANCELLATION


"Following the Cancellation, there will be no market facility for dealing in the Ordinary Shares and no price will be publicly quoted for the Ordinary Shares. As such, holdings of Ordinary Shares are unlikely to be capable of sale and will be difficult to value. Furthermore, following Cancellation the financial and other publicly available information required under the AIM Rules will be discontinued although the Company intends to continue to provide financial information to its Shareholders via its website."


"As and when the Directors believe the Company has the resources to do so, the
Company may take advantage of opportunities to buy back its Ordinary Shares. The timing of any purchases cannot be forecast as they would always be dependent upon the circumstances at the time."




"The Directors are aware that Shareholders may still wish to acquire or dispose of Ordinary Shares. The Directors intend to make available a new matched bargain service. Under this facility Shareholders or persons wishing to acquire Ordinary Shares will be able to leave an indication with the matched bargain settlement facility provider that they are prepared to buy or sell at an agreed price. In the event that the matched bargain settlement facility provider is able to match that order with an opposite sell or buy instruction, the matched bargain settlement facility provider will contact both parties and then effect the order. Shareholders will need to have their own broker and will need to register with the matched bargain settlement facility provider as a new client. This can take some time to process and therefore Shareholders who consider they are likely to avail themselves of this facility are encouraged to commence it at the earliest opportunity. The contact details of the matched bargain settlement facility provider, once arranged, will be made available to Shareholders on the Company's website at www.metnor.co.uk and directly by letter or e-mail where appropriate."

regards

[rainmaker] 06/3/2009 01:18

With liquid assets less all liabilities nearly 3 times the market cap it's tremendous value. It's had a profits warning yet affirmed it's profits will not be less than £2mln which is approxitely half the current market cap,it's got annual turnover of £84mln so a p/s ratio of just 0.05 which is incredibly low, it's gearing is lowish at 37%, over the last five years 2003-2007(inclus)eps have averaged 25p and dps 8p so at 27p IMHO it's an absolute out and out no brainer IF you are prepared to hold your shares for the long term and appreciate they are not readily realisable because the Company are cancelling their listing.I would expect the Company to continue to pay dividends but they are under no obligation to do so.

regards

[pvee] 04/3/2009 08:22

Given the news this morning have we been shafted or should we top up?

[pugugly] 26/1/2009 11:25

Anyone any news on the Carehome that was supposied to be finished by the end of the year?

From the interims.
" Gross cash balances at 30 June 2008 stood at £3.1 million (2007: £3.0 million) whilst borrowings were £13.4 million compared with £11.1 million at the same stage in 2007. The additional borrowings comprise funds drawn down on a specifi c loan facility for the development of a care home site which is due to be completed at the end of the year.
"

[dumbarton2] 01/11/2008 09:50

Directors already hold a big chunk maybe they want it on the cheap. If its delisted they save on costs.

[wish i wasnt in rbs] 31/10/2008 13:12

why would directors buy then? Is this not a good sign of their expectations?

[dumbarton2] 29/10/2008 16:23

I dont think so look at ther falls of late. Who needs a property related stock.

[trundler] 17/10/2008 09:17

Might be right to go long if the directors are buying

[mctmct] 15/10/2008 17:45

One director thinks this is good value at 110-112.

[barman92] 30/9/2008 15:56

These guys were calling it right 20 months ago.

[dumbarton2] 24/9/2008 14:50

Not shorted it!

[dumbarton2] 26/8/2008 10:15

With construction/property still in decline MTG could fall a lot further.

[dumbarton2] 20/8/2008 16:15

Dead in the water here and waiting for more bad news.

[dumbarton2] 13/8/2008 14:55

IND is well overvalued.

[dumbarton2] 13/8/2008 14:37

Looks like I was right the share price going back to base level.

[mctmct] 25/7/2008 15:29

The directors clearly believe this is near the bottom. Rankin, the CEO has spent the best part of £2m on shares recently, adding to his already dominant holding.

[dumbarton2] 11/4/2008 10:11

The co indicater more woes for construction stocks avoid.