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[professorsmsmith] 11/5/2007 07:58

This will either be 0p or 15p within a couple of weeks!

Now that's what I call a punt.

[pbracken] 10/5/2007 17:02

latifs - is it because you're a judge at Crufts?

[latifs100] 10/5/2007 16:34

why do i pick dogs? another one going bust.. hope they raise the cash

[mrchigley] 10/5/2007 16:15

Perhaps no rollover, but it aint 2 sells imho.

£154 commission and books balanced

[bonio10000] 10/5/2007 15:33

Where's chef?

Did he do his spuds on this one?

[boadicea] 10/5/2007 15:31

Note that the 7p trade came first.
Looks like one broker found a buyer at 7p for another broker with a distressed client and passed the trade back (B-trade) less a small turn. There may even be a further similar trade showing later, possibly with a C-marker.

[25cent] 10/5/2007 15:25

Mrchigley its no rollover.

[mrchigley] 10/5/2007 14:33

I se 2 trades of 1.65million. One at 7p another at 6.979p. Looks like a rollover to me and the MMs have taken the £154 commission.

[25cent] 10/5/2007 13:50

Yep thought so looks like 7.5p offer may well be on its way, very sad to see this in all this mess.

[25cent] 10/5/2007 13:40

MM's could take this down to 7.5p offer and still make on the trade, it looks like its going lower.

[nilip] 10/5/2007 11:52

Looks like large panic seller is out of the way now - robbed blind by the MM's it would appear. Seems to have been the reason for the drop today.

A few buyers coming in again - check out Plus trades.

Hence tick up on L2.

[moneybags] 10/5/2007 11:47

If some biggish sales are going through at 7p then is anyone here going to buy some at 9p....!

Can't see it somehow.

Regards , Moneybags

[professorsmsmith] 10/5/2007 11:24

BIG PANIC SALE! SUSPENSION LOOMS!

[wiganer] 10/5/2007 11:01

Yes Bes, look out on both LSE and PLUS.

[nur0mancer] 10/5/2007 11:00

1.65M dump at under 7p

[besbury] 10/5/2007 10:11

Wiganer.

I take it you are aware that most MEG trades appear to go through the Plus market and do not show on here? There have been several modest punts this morning at 9.85.

[wiganer] 10/5/2007 09:57

Bes
To be fair I often look out for chunky buys, but I like to see a few go through to be sure it's more than just a rich mug punter having a flutter.

[besbury] 10/5/2007 09:39

Maybe so, Wiganer, maybe so. However, I would have thought whoever it was would need to know their horse had at least three good legs! We don't know at this time if it as even one good leg to hobble away on. O^O

The offer price now is equivalent to 2.5p pre consolidation, which makes my first purchase at 6p look expensive.

[wiganer] 10/5/2007 08:43

To some folks £36k is a petty cash punt.

[besbury] 09/5/2007 18:17

It is not clear to my mind what the 2 x 250k trades @ 9.75p are, however, the 350k @10.25p is surely a buy? If so, who with sound mind would fork out £36k at this point in time, other than someone who knows precisely the current situation within MICE Group!

[professorsmsmith] 09/5/2007 15:08

Today's announcement is a small reduction by Barclays from 11.17% to 10.93%.

Strange how sometimes even the simples of annoouncements can be misleading!

[u813061] 08/5/2007 14:46

Alison Leyshon works her wonders again. Check out her record at Parity. Why did the non-execs allow her appointment ?

[pbracken] 07/5/2007 10:46

Insitutional investors in MEG know that the debt figure will be around #55m at the half year, which is somewhat higher than expected. Equally, the cause of the rise is the need for working capital to service large blue-chip contracts - the revenue figure will show impressive growth.

The crunch question, as I say, is will MEG deliver a profit on these contracts? The market is pricing-in its scepticism that it can. This issue goes beyond the acccounting right-down that MEG recently flagged, which I believe is only a precursor to the real problem: MEG's poverty of systems and controls that disable it from knowing if its UK business is profitable.

This is what the audit review is tasked with to uncover. My instinct tells me that more bad news is on the way (and indeed, that is what the market expects); but obviously I don't know for sure and at 10p a share it may be that the downside v upside risks make the stock an atractive speculative punt.

The key to any meaningful re-rating, though, is MEG's ability to punch a big hole in the debt. That means finding a buyer for the UK division - and fast.