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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Metnor Grp. | LSE:MTG | London | Ordinary Share | GB0003782249 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 22.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 22.00 | GBX |
Metnor (MTG) Share Charts1 Year Metnor Chart |
|
1 Month Metnor Chart |
Intraday Metnor Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 28/2/2013 | 20:52 | Metnor property woes. | 101 |
| 30/9/2008 | 15:56 | Mortgage Lenders Unraveling in the USA | 9 |
| 14/1/2008 | 15:22 | Strong growth at Metnor | 111 |
| 07/12/2006 | 08:12 | Check Metnor's fundamentals - there aren't many as good as this | 379 |
| 16/8/2005 | 09:34 | Excellent results from METNOR | 41 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 18/2/2013 13:42 by roddiemac2 bermellonYour broker would have automatically accepted the offer . This is normal in such cases , since your only other alternative would have been to accept the very unattractive B share alternative . Because the Rankins held so many shares, the offer was bound to go unconditional . Two ex shareholders are currently taking legal advice on the circumstances surrounding the takeover . There may be a possibility of litigation at some point. You could contact Bedbel: see his post 94 0f 99 dated the 17th.of Dec. 2012. he will then keep you informed of any progress made. |
Posted at 06/2/2013 11:42 by bermellon Hi. I have a holding in Metnor which I did not want to sell at 25p, whch you so rightly say is derisory. I took them out of my Selftrade account to avoid them accepting the offer and received a Crest Certificate a couple of days later. Yesterday, I received a cheque from Share Registrars Ltd for the sale at 25P. At no time did I accept their offer. Has this happened to anyone else, and is the company action legal? I do not wish to crystalise the capital loss at this time, so did not sell. Any similar experiences or comments would be most welcome. |
Posted at 17/12/2012 17:42 by roddiemac2 pvee. We have been shafted.Last published NAV=£34.4m. The offer value is £5.04m. Because 89.7% of the stock is already owned by the Rankins, and 3.67% is held in the metnor EBT, this leaves 6.63% held by others . If all of these accept the paltry cash offer, it will only cost the Rankins £ 334,237 . Laughably, we are advised to accept the cash offer, because the share alternative has been devised to be an even worse deal. ( The B shares being offered under the share alternative have more restrictive rights than existing shares, and are worth less than the cash consideration ) The architect of this unfair offer is away skiing.His shares will be A shares. |
Posted at 13/12/2012 12:43 by pvee 25p for each share held or 1 B-share which have no voting powers, no right to dividend and no market |
Posted at 20/3/2009 08:15 by rcturner2 Rainmaker, unfortunately you are just plain wrong. Your ability to sell an asset very much affects its value. The number of potential purchasers of Metnor as a delisted company is far lower than as a listed company. You understand price and supply and demand yes?There is no "fundamental value" of anything other than what you can get for it. |
Posted at 20/3/2009 01:35 by rainmaker Hi Guys- A delisting will not affect the fundamental value or trading of Metnor one iota.They will still have the same value of assets and the same number of shares etc. The management have to pay you the same dividend per share for your shares as they receive for theirs.I'd call this a technical rather than a fundamental factor that is adversely affecting the share price and creating a fantastic buying opportunity, as there is undoubtably a negative bias against Companies that delist(nobody on this thread would argue with that) and as Safman points out Institutions won't hold the shares and there are accounts such as SIPP that won't permit it.This whole situation is exacerbated by a lack of buyers because of the delisting bias mentioned earlier. I sincerely wish you all the best with your trades regards |
Posted at 10/3/2009 01:33 by rainmaker At the current price of 15p Metnor(MTG) have a market cap of just £2.3mln yet they have net working capital of £15mln or £1 a share(that is liquid assest less ALL liabilities) so they have a quite staggering "Bargain ratio" of 6.5. Plus you get another £6mln of Property Assets and another £6.6mln of Property, Plant and Machinery Fixed Assets thrown in for absolutely nothing. Tell me isn't that a good deal? Isn't that a sufficient margin of safety? regards |
Posted at 06/3/2009 09:03 by pvee Thanks for your comments Rainmaker and I agree about the potential and underlying value of the company.I think the rub is: what price will the Directors offer in the future and have they got the power to impose this, noting that one of them already has a controlling stake and what control have minority shareholders over their capacity to influence the true value of the busines is reflected in our investment Unfortunately the way the share price has plumetted this morning doesn't make me feel very optimistic but I have no choice but to hold |
Posted at 06/3/2009 01:45 by rainmaker I note that a couple of years ago Metnor(MTG) were trading at over £4regards |
Posted at 06/3/2009 01:43 by rainmaker 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 |
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