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Real-Time news about MG Capital (London Stock Exchange): 0 recent articles
|captainspock: Is there anybody there ??
Just in case anyone is interested MAP's slip into a loss of £577k from a profit of £904k is not as bad as would first seem as last years profit was primarily due to an exceptional write back of £910k resulting from redemption of convertible unsecured loan stock and the cancellation of a director's loan to the company.
Indeed the very detailed statement accompanying the first half results appears to be fairly positive & optimisitic in the long term.
Also the late 2.5p tick-up today on no trades, the first upward movement since the share consolidation in Oct 2004, would appear to indicate & confirm that the disappointing loss has already been written into the share price, particularly as it has been on a constant downward trend for around 15 months.
IMHO, the worst seems to be in the past & significant recovery may not be too far away although most would probably still consider MAP as a speculative investment- could however be one to tuck away for any investors looking for long term gains.|
|captainspock: Well on the basis of a very upbeat statement on release of the Interims yesterday, this could be the start of very interesting times ahead for a share that has looked pretty dead in the water for some considerable time.
With the clear evidence of a new Bull Market in the making MAP could possibly find itself in the enviable position of being in the right place at the right time on the investment front.
There is clearly a lot of work to be done to raise the company's profile, notwithstanding building up a new & hopefully prosperous investment portfolio, however I truely believe that things are starting to look upwards from here.
One only has to look at the rise in the share price of DAN in recent weeks- up more that 5-fold in a matter of a few months.
I'm not yet saying that MAP could take off in a similar fashion, but there are tentative signs of a possible rally in the share price for any punters looking to get in cheap now for the longer term.
Certainly one to watch IMHO.|
|captainspock: Could be due for a bounce northwards, depending on what happens over the next few days or weeks ?
190K shares may not seem that many but remember had these buy trades gone through before the recent share consolidation of 1 for every 1000 shares held, the number of shares bought today & yesterday would have amounted to 19 Million shares !!
Having said that it does appear that MM's obviously have heeps to offload, given the purchase price of 100p being 5p less than the current offer price of 105p.
Whilst I am not kidding myself or jumping up & down just yet about a possible major recovery in the share price, I still feel this one could well be worth watching over the next few weeks, IMVHO.|
|captainspock: Well this may sound like pure speculation I know but I have it on good authority that MAP are actively seeking to secure some new funding and that there may be an update on this over the next month or so.
I cannot divulge where I have got this info for fear of breaching Stock Exchange rules or what this may or may not mean in respect of the share price as I do not yet have any gritty details, but I may know more by the end of next week.
What I do know for certain is that Mr Fowler has now returned from his business trip in the Far East, so it looks as if something could be brewing quite soon.|
|captainspock: Well out of interest here is a rather uninformative reply I have received from an e-mail I sent to the company in view of the recent further slide in MG Capital's share price:-
From: "Pat Ballard"
CC: "'Rita Chudasama'"
Subject: MG Capital
Date: Fri, 14 May 2004 17:01:05 +0100
Rita Chudasama has passed to me your concerns, in the absence of Charles Fowler, the Chairman, who is on a business trip to the Far East, your e-mail. It would seem from your e-mail that you have not seen the unaudited interim results for the six months to 31 December 2003, which were released to the market on 29 March 2004. Attached is a copy of that announcement. The company has not issued any other announcements since that date and in the absence of Mr Fowler, you will understand that I am not in a position to comment further on the questions you raise. That said, I am not aware of any reason for the drop in the company's shares save that, as you are probably aware, there is a very thin market in the company's shares.
A H Drummon
Possibly the only points of note which may generate some encouragement are the following:-
".......in the absence of Charles Fowler, the Chairman, who is on a business trip to the Far East,......"
"......I am not aware of any reason for the drop in the company's shares........"
I do wonder what may well come out of Mr Fowler's business trip to the far east, after all that is where there seems to be a lot of growth right now with so many companys seemingly trying to get into far eastern markets ??
Could start to get interesting over the next few months, IMHO.|
|pylon: On 14th November 2003, NOIT (New Opportunities IT) made an announcement that it was going to terminate the management agreement that it had with MG Capital's subsidiary, NSL. The extract is as follows:
"As part of the proposals, the management services agreement entered into between NOIT and NOIT Services Limited ("NSL") at the time of the Company's launch in 2002 will be terminated."
That agreement provides that 3% of the NAV of New Opportunities IT should be paid in the event of termination.
This means that MG Capital is due to announce the receipt of almost £1 million for the early termination of their agreement with NOI.
In addition, I'm sure there are other new contracts that will be announced which were alluded to in earlier statements made by MAP.
The share price is undervalued, and the information is already out.|
|double6: MG Capital - is this another interesting opportunity ? Share price fallen to 0.3p (due to sale of 1 million share last week at 0.25p) - market cap. is minimal - I know I'm gettinmg a reputation for picking risky stocks, and this could be another one - but potentially this has more upside than downside - bought 70k @0.38p this afternoon. DYOR.|
Mg Capital share price data is direct from the London Stock Exchange