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MSB Msb Intl.

25.75
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Msb Intl. LSE:MSB London Ordinary Share GB0005588669 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 25.75 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 25.75 GBX

Msb (MSB) Latest News

Real-Time news about Msb Intl. (London Stock Exchange): 0 recent articles

Msb (MSB) Discussions and Chat

Msb Forums and Chat

Date Time Title Posts
08/7/201609:44MSB - its days are numbered101
10/4/200617:46My Staffing Business205
11/10/200516:57End of the road for MSB?2
07/9/200510:54MSB =- >>>>>> get these boys quick, 70p shud see Ј1 pdq178
21/6/200413:06MSB - too early is better than too late6

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Msb (MSB) Top Chat Posts

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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 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 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 06/7/2006 15:26 by rainmaker
Nobody on this site would disagree that the writing is on the wall for MSB.Big trading volume yesterday and there is a large Buyer around- I believe they bought approx 3%. Convinced there will be a bid very soon-not just increased volume but the share price's behaviour-see previous Post. The longer a Bidder leaves it, the more they will have to pay since there is large scope for share price recovery through improving markets and recent cost cutting measures


regards
Posted at 06/7/2006 08:30 by stemis
I'm sure you have no more information on what is happening than any of us. However what is interesting is that since the report in the Times on 30th June, there has been no announcement from the company and the share price has jumped by 5%. Not really consistent with a single bidder having walked away.

Although the announcement of 31 March talked about an approach, that doesn't rule out other parties, seeing MSB in play, having approached the company. Quantica may (although may not) have walked away, but that could be because they have been outbid by someone else. Any number of possibilities exist.
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/operational benefits.

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
Posted at 31/3/2006 11:28 by jemtang
Yes, u r right SteMis, MSB moves very fast when it gets going...if quantica can turn it round...fantastic.....MSB just been very poorly managed..heres to 60p+ soon...good luck holders...about time our share price increased...the dividends have been nice...but we do want a higher share price...
Posted at 11/10/2005 17:01 by stemis
MSB share price at 43.5p is now a discount to its net current assets (56.5p per share).

As far as I am aware they are still forecasting a profit.

With £90+ million of turnover you would have thought they presented a very attractive acquisition target.
Posted at 11/10/2005 16:57 by stemis
Seems a very large drop for no news.

MSB share price at 43.5p is now a discount to its net current assets (56.5p per share).

As far as I am aware they are still forecasting a profit.

With £90+ million of turnover you would have thought they presented a very attractive acquisition target.
Msb share price data is direct from the London Stock Exchange

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