Mice Group Share Discussion Threads

[dunderheed] 26/4/2007 10:01

Mate - what brings me here is simply you - you have a knack for generally spotting nice short term trades - that's all.
No cash at the moment but see this as a potential trade stock and potential recovery stock (but a bit gamble level) - if I did have some?

Best of luck!

[nilip] 26/4/2007 09:58

30,000 MM buy.

Looks like bottom fishers galore.

[nilip] 26/4/2007 09:57

Dunderheed - Blimey, what brings u here mate!

LOL ! you guessed it, I was refering to the mythical creature but have amended it for appropriate context.

Bottom fishing :-)

(PS. I was almost tempted with our old pharma friend today but then decided against)

[dunderheed] 26/4/2007 09:50

nilip - minotor is this a mis spelling for the mythical creature - half bull half man or a mis spelling of monitor?!
How you doing mate - did you hold this stock previously and are you 'bottom fishing'.
Always interested to see your trades - you seem to have a good record?

[nilip] 26/4/2007 09:40

Hi Guys,

Had this one on my monitor for a while.

I've started buying in this morning. Looks over sold to me and seems (judging by that quick sudden barrage of buys) that quite a few others have the same opinion.

MM's seem to have shaken the tree and quite a few out.

We're now down from a high of over 45p - looks over done.

[scburbs] 26/4/2007 08:54

LOL! I particularly like the close reading bit!!

"I base opinions on close reading of their last few years report and accounts - their cash outflows are horrendous - if a business needs more cash each year to fund trading then it'll eventually go bust. Scbubs - you should take my comments seriously when based on the financial facts not missing reading £7m which will pay 2 years interst at todays rates!"

[heapsy59] 26/4/2007 08:51

sure I missed sale and leaseback - but this further detracts from tangible assets.

The Fool poster said staff are leaving - take it or leave it - most posters report what they hear - why make it up? - phone MICE in the states if you want to know the facts...its your money on the line

I base opinions on close reading of their last few years report and accounts - their cash outflows are horrendous - if a business needs more cash each year to fund trading then it'll eventually go bust. Scbubs - you should take my comments seriously when based on the financial facts not missing reading £7m which will pay 2 years interst at todays rates!

Why bear raid ? if the company had growth prospects people would buy the stock. It has debt, large borrowings, few assets except goodwill, and their clients are leaving...

see rns 19 Jan
Since that date both the International and North American divisions have experienced delays to the start date of projects, extensions to the envisaged timetables for ongoing programmes and in certain cases, project cancellations.

DYOR

[scburbs] 26/4/2007 08:10

Heapsy59, Thanks for your insight, but if you don't even know the company raised £17m not £10.4m your comments are hard to take seriously. Check the whole RNS and DYOR properly.

[stemis] 26/4/2007 08:09

where do you get £17m from Stemis? Last sale raised £10.4 not £17m.

If you read the announcement you will see they announced the sale of leisure assets for £10.4M and a sale and leaseback for £7.5m.

According to Motley Fool , MICE America has severe cash flow problems and its senior staff are leaving.

Not according to Motley Fool at all, but according to a newly registered poster there whose only 2 posts make unsubstantiable allegations about MICE's US operations. Funnily enough I don't recall seeing you about these parts before either...

We all know that debt is high (although recently cut by 40%) and that profits are down. That's why the share price is where it is. At 9 x taxed EBIT it certainly doesn't include much hope value.

I wonder if there is some bear raid taking place here. Its fairly thinly traded and has well known problems. A few shorters could force a drop in the price and then spread rumours about the business causing loose holders to sell and the price to drop further. Look out for new posters...................

[heapsy59] 25/4/2007 21:21

where do you get £17m from Stemis? Last sale raised £10.4 not £17m.

we do know what caused the fall ... analyse all the trades over the last 2 weeks ... most people are heading for the exit and very few are buying.

According to Motley Fool , MICE America has severe cash flow problems and its senior staff are leaving.

Last year MICE paid £3.3m just in interest on its debt. It only ever pays off the debt with further fund raising. Now rates have gone up, debt is still horrific and profits are down.

Not much point saying 'MEG's valuation about 9 x Taxed EBIT. Certainly not high'

If it doesnt have any cash or cash flow then it will need a financial restructuring meaning dilution of shares and less value for suffering shareholders.
it's called debt for equity...

[stemis] 25/4/2007 20:26

PBT of 'at least' £6M equates to an EBIT of at least £10M (assuming interest 2 x first half). Proforma debt is £27M (£44M at prior year end less £17M from recent transactions) and market capitalisation £35M.

That makes MEG's valuation about 9 x Taxed EBIT. Certainly not high.

The truth is that we don't know what caused the fall.

[wiganer] 25/4/2007 19:47

Who'd have thought someone would have paid 40p a share for CWM?

Point being there is "innate value" within MEG. But how much?

[heapsy59] 25/4/2007 19:30

Catch a falling knife and put it in your pocket
Save it for a tax free day...

It's obvious why it's falling possibly to imminent collapse.

At year end net debt was £44.1m, total borrowing £52.9m with £52.5m of this subject to floating interest rates. They have net assets of £26.7m goodwill is £48m. The market cap is £35m.

A recent RNS stated a severe profit warning as below - who thinks they can now meet their debt and borrowings commitments with reduced profits and increasing interest rates? Looks like another fund raising?

Mice Group warns of FY profits 'significantly' reduced to at least 6 mln stg
LONDON (AFX) - Experiential marketing services group Mice Group PLC warned
it expects the full year profit to be "significantly reduced" to at least 6 mln
stg due to the delays and extensions of projects and some project cancellations
in its International and North American divisions.
The company also attributed the expected fall in profit to a number of other
lesser issues, including the accelerated write-down of certain hi-tech assets, a
bad debt which will be provided for in full, and the negative effect
of adverse foreign exchange translation on its North American business.

[besbury] 25/4/2007 18:34

Wiganer - 25 Apr'07 - 17:31 - 2134 of 2136


20p mid taken out. Seems like the MMs are awash with stock.
Think I'll sit on my hands for a while yet.

Added 25k @ 20.14 which show on the Plus market at 16.11.45. Someone else followed suit with 40k at the same price.

I may not have caught the bottom, quite. So best of luck if your patience is rewarded.

I have also been expecting confirmation that the disposal transaction had been completed. I guess I am in for a rude awakening if the deal has fallen through.

Prelims are due next month, so we may learn something then.

[wiganer] 25/4/2007 17:33

Almost a month later no confirmation of the transaction having been completed- is it still in hand?

[wiganer] 25/4/2007 17:33

Mice Group PLC
30 March 2007





MICE Group Plc

Disposal of Leisure Businesses and

Property Sale & Leaseback


MICE Group Plc ('MICE') or ('the Group') is pleased to announce that it has
unconditionally agreed to dispose of Grant Leisure Group Limited ('Grant
Leisure'), the holding company for the Group's three non-core leisure
businesses, to Parques Reunidos, S.A.U., one of Europe's leading operators of
leisure parks, for a total consideration of £10.4m payable in cash on
completion. Completion of the transaction is expected to take place in the
coming week.

[wiganer] 25/4/2007 17:31

20p mid taken out. Seems like the MMs are awash with stock.
Think I'll sit on my hands for a while yet.

[besbury] 25/4/2007 15:31

Thanks, Wiganer. I am also thinking along those lines.

[wiganer] 25/4/2007 15:30

Well, I'd certainly be very tempted if it hits 20p on the offer.

[besbury] 25/4/2007 15:19

Well now, Wiganer, we have 20p on the bid;-0) What next?

Do I take it you may buy a few for another quick buck at 20p? O^O

[dunderheed] 25/4/2007 14:24

Mate tell me about it - I saw the post you are referring to.
Really dont know about the ins and outs of legalities - but feel if he can sue some people - then there must be quite a few who have an equal chance of returning the favor?
Strange chap for acting in the way he has - anyway - better not hijack this thread - off now anyway!!

[wiganer] 25/4/2007 14:22

I think you have it the wrong way round D- I am the one who was defamed in that other place. It would be nice for the defamer to apologise to me, but I shan't hold my breath. Life's too short.

[dunderheed] 25/4/2007 14:20

Yeah mate - madness over there - sheer madness.
The other comments were okay - cannot really be contrued in a negative way - really still think you ought to make an unreserved apology and donation to charity - or something like that anyway??!!

Love to chat but off to lunch now so dont take non reply as rudeness/'disrespect' and splap a writ on me!!