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Morses Club Share Discussion Threads
Showing 51 to 71 of 75 messages
|well , although i like the business, this puts me off.
when a major shareholder is actively running the company, that's great.
but seen too many cases of owners floating a company and then selling off their stakes as quickly as they can which is detrimental to the small shareholder.
i am not saying that's the case here but the short 6 month lock-in somewhat spoils for me what is otherwise a potentially interesting investment opportunity.
ALL IMO. DYOR.
|I think because he was the selling shareholder he probably asked for the short lock in. Could be a buyer already lined up maybe an institution but like you say we don't want a scenario like the one that's playing out at PIL and BILN.|
|Am new to this share via SCSW and confess don't know it's history.
Would the NED who bought quite a shedload in October [at a higher price than SCSW subscribers] be aware of future ex lock in share sales depressing the price, just a thought. Might he have waited a bit.|
|Thanks but that's it!
Not the well incentivised Company Management but the 51% shareholder.
As clearly specified in the last para, it clearly states that the 51% shareholder - Mr. Constable- only has a six months lock-in which expires in a couple of weeks' time.
Is there anything to support your assertion that you do not expect him to dump shares? On what basis can you say that?
It worries me that the Lock-In is so very short. After that he is effectively free to sell the shares, initially through Panmure/Numis and then six months further down the line however he choses.
That is a real overhang and I don't like a major sword of Damacles after a mere six months.
I like the business but the imminenet expiry of the 51% lock-in is a major negative for me.
ALL IMO. DYOR.
|Hi QP good to see you also like these. I don't see the major holder as a problem as I'd expect them to hold the shares a lot longer but in any event not to dump them in the open market. Could also be diluted with an acquisition
14.3. Lock-in Deeds Directors
Stephen Karle, Paul Smith and Andy Thomson, Numis, Panmure Gordon and the Company have entered into a deed whereby such Directors in respect of themselves and each of their connected persons, have undertaken to Numis and Panmure Gordon, not to dispose of their respective interests in the share capital of the Company during the period commencing on Admission and ending 12 months after the date of Admission, and in order to ensure an orderly market in the Ordinary Shares they have further undertaken, in respect of themselves and each of their connected persons that for a further period of twelve months thereafter they will not (subject to certain limited exceptions) deal or otherwise dispose of any such interests other than through Numis and Panmure Gordon.
The Selling Shareholder, Jamie Constable, FCAP Four Limited, Numis and the Company have entered into a deed whereby the Selling Shareholder, Jamie Constable and FCAP Four Limited have in respect of themselves and each of their connected persons, have undertaken to Numis and Panmure Gordon, not to dispose of their respective interests in the share capital of the Company (subject to certain limited exceptions) during the period commencing on Admission and ending six months after the date of Admission, and in order to ensure an orderly market in the Ordinary Shares they have further undertaken in respect of themselves and each of their connected persons that for a further period of six months thereafter they will comply with certain restrictions in relation to any disposal of any such interests other than through Numis and Panmure Gor|
|I like this .
My BIG concern is the following.
The major shareholder owns a whopping 51%. He is arms' length and not involved in the running of the business.
There is a lock-in period of just SIX months from April date of admission to AIM.
That's a really short lock-in period. Sometimes there are 2 or 3 or even 5 year lock-in periods.
If the major shareholder starts selling, that will impact significantly.
Any views welcomed.
ALL IMO. DYOR.
|Me in too this morning - looks a low risk buy in current climate|
|30k buy at 124|
|Sharewatch cracking buy rec|
|Tipped in IC, should see some buying and a rise in share price today/Monday|
|Good to see Panmure retain their buy stance with an increased target price of 150. Ex divi 2.1p today.|
|I've taken a few here, good cash flow , progressive dividend and consolidating in the sector.|
|Davro check the company admission document. All figures are there. Looks positive.|
|Anyone have any revenue, profit and debt figures for this company?|
|interesting business. does anyone else have comments a month into the IPO?|
|What Investment - 15/6/16:
The small cap stock he bought shares in is Morses Group, a £126 million market cap company.
Beagles remarked, ‘With 200,000 customers, Morses has the second largest market share in the UK home collected credit market (Provident Financial is the market leader). The company operates under a long-established brand and is building a market-leading UK non-standard consumer finance business. The group is well-capitalised with very low financial leverage, has invested wisely in technology and is actively consolidating the market (where smaller players are being driven out by greater regulatory pressures). The stock was a new issue at a very attractive valuation that was based on prudent forecasts (a combination unfortunately not normally associated with IPOs).’
|They seem to be making the right moves again although they've had a few serious 'hiccups' too. As you pointed out, they are well below NAV and given that Redstones' prospects appear to be improving these could soon be rerated.|
|Good to see the rise today. Still a long way to go to NAV, and much of the value in cash.
Also good to see directors buying.
|I sold out today at 77p once RED was going south. I dont really follow why RED has been hit so hard but it must impact on this stock.|
|Today our friends the MMs opened the stock lower - why?
If it is to encourage sellers, to date all they have got is one buy order.|
|I bought 5000 of these at 65p with no premium. There is not generally a lot of stock available and when MM's are short of stock it can be difficult to get it at the price. Suggest you try to buy on down days. This one may get sqeezed higher fast if a large number of people turn bullish. Makes up for my losses on RED,|