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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Msb Intl. | MSB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 25.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.75 |
| Top Posts |
|---|
Posted at 21/11/2006 08:58 by m.t.glass Carter&Carter (CART) announcement:"..Further to the announcement of 15 November 2006 in relation to the appointment to the board of Sir Howard Newby and Sarah Anderson CBE as non-executive directors, we confirm that Sarah Anderson is a director of MSB International plc..." |
Posted at 16/10/2006 19:02 by sharw The lack of dividend was condition h(ii) of the offer.We now have a timetable - first closing date 6/11. With 43% already in the bag, then it is a done deal - unless Flaherty or a.n.o. come in at 77p or more. |
Posted at 15/10/2006 10:37 by snappy No interim dividend. Results show takeover price is too low.Trafalgar CFD now control a total of 1,000,000 shares with a recent purchase at 72p. Can we now expect a higher offer? The saga continues, shame about the dividend ..... |
Posted at 07/10/2006 14:00 by snappy We should get an interim dividend as the Networkers EGM to approve this takeover (assuming it goes ahead at 73p) is likely to take place in November according to the latest circular. |
Posted at 28/9/2006 14:20 by stemis In connection with the indicative all cash Offer by Networkers International plc ('Networkers') for MSB, Seymour Pierce Limited and Networkers have received irrevocable undertakings from the MSB shareholders detailed below to accept an Offer, in respect of all the MSB shares beneficially owned or managed and controlled by them, at 73 pence per share in respect of in aggregate 8,759,708 MSB Shares representing 42.73 per cent. of the existing issued ordinary share capital of MSB. These undertakings will cease to be binding in the event of a competing offer which values the entire issued share capital of MSB at 5% or more above the value of the Offer and in the event that a firm intention to make an offer is not announced by 16 October 2006.Over to you Mr Flaherty. |
Posted at 12/9/2006 16:13 by sharw Talk about 11th. hour! The meeting (now to be adjourned) is tomorrow morning. Although, like a number on this board, I suspected the offer undervalued the company, I thought it was too late for a rival bid. Will Flaherty counterbid? Watch this space!Edit - I see the new bidder is listed on AIM - NWKI. It has MCAP £36m. In the year to Nov. 05 it had PTP of £3m. on sales of £31.2m. MSB by contrast had sales of £95.7m. but only managed PTP £313k in the year to Jan. 06. The new offer values MSB at £15m. If MSB had the same price to sales ratio as the bidder it would be valued at £110.4m - roughly 537p/share. Makes you think what even half-decent management might have achieved. |
Posted at 07/8/2006 10:38 by farsight "MSB was the cheapest one of the pack farsight with little or no debt and valued at around Net Asset Value..."I know, snappy. I first bought MSB when it was about 35p. Back in April I thought it might go for 70p, so 65p ain't bad: |
Posted at 05/8/2006 21:04 by stemis I'm afraid I wouldn't trust the management of MSB with my money anymore, so unless a rival bid comes in this is the best we have on offer and I'm taking it. Relying on MSB management to turn this around is not an option for me. |
Posted at 04/8/2006 07:48 by stemis 65p it is!Looks in the bag Bidder is ex CEO, Peter Flaherty, who already owns 14.7 per cent. Since Third Advance Value Realisation Company Limited, Hargreave Hale, Henderson Global Investors and the MSB Employee Benefit Trust (together 36.7 per cent) intend to vote in favour, it seems like a done deal. Overall not a great price, but brings an rather more satisfactory end to my holding than seemed likely six months ago. As ever the MSB management manage to come out of it 'okay' The executive directors, Andrew Zielinski and Ian Ketchin, have agreed to abstain from voting on the resolutions at the Court Meeting and the EGM due to their personal interests in the outcome thereof by reason of an entitlement to receive bonuses of £100,000 and £50,000 respectively in the event of a third party acquiring more than 50 per cent. of the issued share capital of MSB. |
Posted at 06/4/2006 17:41 by stemis 31 March 2006 - Times reports WHISPERS in the recruitment sector suggest that long-suffering shareholders in MSB International are about to be put out of their misery. The Bromley-based agency is due to put out full-year figures on Tuesday, which are expected to show it barely broke even on turnover of about £100 million. But what set tongues wagging yesterday was the prospect of bid activity, with acquisitive Quantica - which is forecast to make pre-tax profits of £6 million on revenues of £62 million this year - tipped as the suitor. Dealers hear that institutional owners of MSB, many of whom also hold Quantica, have grown restive and have put pressure on the board to merge. For its part, MSB would give Quantica greater exposure to the IT sector and enable it to strip out a layer of central overheads, not least those relating to its full quotation on the Official List - which many observers consider the wrong home for a company valued at just £8 million. MSB held steady at 39p, Quantica at 69½p.31 March 2006 - Company states "The Board of MSB notes the recent speculation in the financial press and confirms that it has received a preliminary approach which may or may not lead to a formal offer being made for the Company. The Board, which is being advised by Collins Stewart Limited, wishes to stress that discussions are at an early stage and there can be no certainty that this approach will lead to an offer for the Company. Company is controlled by 3 major shareholders Third Advance Value - 20.6% Peter Flaherty (former CEO) - 14.0% Peter Browne (former Sales Director) - 10.9% Third Advance Value Realisation Company Limited was set up in December 2005 to provide a means for institutions to obtain liquidity in small under performing company stocks by exchanging them for shares in TAVR which can then more actively manage and extract value from the stocks. Third Advance Value acquired their MSB shares in December 2005 from Eaglet when the share price was 44/45p. Third Advance Realisation Trust also own 4.5% of Quantica (plus shares in Harvey Nash, Whitbread Mann and Lorien) and clearly see this sector as one for consolidation. MSB announced its results on 4 April 2006. Key financial statistics are Sales - £95,660,000 EBIT - £373,000 Loss after tax - £565,000 (after £871,000 of exceptional restructuring costs) Net current assets - £11,024,000 (54p) Net 'tangible' assets - £11,281,000 (55p) On 30 January 2006 MSB announced that its restructuring was expected to result in annualised savings of not less than £750,000. Head office savings should bring at least £1 - 2M (main board directors received about £0.9M alone). Any acquiror would therefore benefit from an EBIT of £2-3M BEFORE any synergistic/operatio MSB has 20,501,979 shares. Its market capitalisation at 50p is £10,251,000 60p is £12,301,000 70p is £14,351,000 80p is £16,402,000 MSB cannot surely survive as an independent company, the question is just how much it will go for! UPDATE - [4TH AUGUST 2006] - Recommended offer of 65p by Peter Flaherty (ex CEO) FURTHER UPDATE - [12 SEPTEMBER 2006] - Counterbid from Networkers International Ltd for 73p |
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