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MWB Mwb Group

4.875
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mwb Group LSE:MWB London Ordinary Share GB00B2PF7L39 UNITS (COMPR 1 ORD & 20 B SHS)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.875 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

MWB Group Share Discussion Threads

Showing 576 to 594 of 900 messages
Chat Pages: Latest  24  23  22  21  20  19  18  17  16  15  14  13  Older
DateSubjectAuthorDiscuss
03/3/2010
08:14
MWB's Vision For Liberty Based On A Pipe dream
lbo
14/1/2010
15:48
Good turn around in price today, so somebody is happy at this level.
goliard
14/1/2010
15:31
Liberty store sales up 16%, says MWB
Business Financial Newswire
Regent Street store Liberty grew revenue by 16% in 2009, says owner MWB Group Holdings in its pre-close update.

Hotels, serviced offices and retailing group MWB said its iconic brand continued to benefit from the renaissance of the flagship store in February, which increased footfall and market share over the remainder of the year.

Liberty's total revenue for the year rose by 20%, led by beauty and menswear. Fabric sales were up 23%.

'All other lines of business have increased their revenue, with Liberty on-line enjoying a particularly strong Christmas,' said MWB.

In the group's hotel divisions, occupancy at Malmaison and Hotel du Vin was maintained at 79.3% against 79.8% in 2008, reflecting increased leisure demand.

Cash generation was better than budgeted as a result of reduced capital expenditure and improved working capital management. However since the start of 2010 occupancy levels and catering sales have been impacted by the bad weather.

At MWB Business Exchange, pricing was under pressure but enquiry levels remained encouraging. Since the acquisition of 16 centres from MLS towards the end of the first half, management had focused on integrating the poorly managed MLS centres into Business Exchange.

Final results will be released in March.

davebowler
14/1/2010
11:09
Not much good news in the trading update other than Liberty, but that comes off the back of a really terrible year last year. Low occupancy overall in the hotels division and lower room rates (ie profit) and a weak start to this calendar year because of the weather (which I imagine every company in the UK will blame for bad results this year). Serviced offices suffering from weaker demand too.
goliard
24/12/2009
14:40
Hi
The share price has drifted back from 60p+ over recent months wich reflects the placeing. It has dropped to 38.5p since placing was announced and is now comming back up again. I also see the buyers are back in today so for the above reasons i to have topped up today at 40p.
I do not see the share price going down due to the placing.
Regards

phuckerty
23/12/2009
15:17
Taurus - I think you may have forgotten that the company will receive cash for the new shares it issues, ie you have misplaced £30 million, which by anyone's standards is rather careless! I am guessing you might be new to this game?

If that really is the reason you sold then you made a mistake. They share price may fall further, but it will not be for the reason you outlined.

goliard
23/12/2009
12:50
I got out yesterday,simply because at present there are 72m shares in issue with a market cap of £28m.When another 90 milllion shares are issued,the share price will be dilluted again.In order for the same market cap that means the share price will be about 17p.
I dont think it will fall this far but could hit the low 20s,thus you have the choice of selling or buying more to average down.I personally dont think the company is worth me buying anymore shares,as the share price will continue to struggle due to the high number in issue.Also there was a managament statement that £2 a share will be delivered to shareholders by Dec 2010,this has now been put back to 2016.

taurusthebull
23/12/2009
10:34
I still don't see why they couldn't have offered a rights issue at 30p. They say they were concerned that a lot of shares would have remained not taken up, but I for one would have been happy to buy more at a discount and the Directors certainly are happy with their lot.

Maybe it is time to the financial regulations to be revisited!

As I said before my holding was worth 150 per ahare held - now 81 per share held or 54% of the previous value. For my holding to be worth the same in real cash terms, I have to purchase 46% more shares at the best price I can get. That is to be in the same position I was NAV wise on MWB's own figures.

paddyloyd
22/12/2009
13:18
OK so the bond deal isn't quite as bad as I thought as the bonds traded at 95p in £ anyway. If you have a look at the corporate bond market there are an astonishing number of bonds that now trade at a premium to face value. There has been a remarkable turn around in this sector.

"On 17 December 2009, the Company entered into the Loan Stock Purchase Agreements with the Audley Investors, pursuant to which the Audley Investors agreed to subscribe pursuant to the Placing, in aggregate £7.5 million for a total of 25 million New Units at the Issue Price of 30 pence per Unit. The Company has agreed to purchase for cancellation a total of £7.5 million of Loan Stock currently held by the Audley Investors. Subject to completion of the Loan Stock Amendments, the price payable for this Loan Stock will be the nominal value of the Loan Stock to be purchased together with payment of the accrued interest on the Loan Stock at the date of Admission. On the basis of the closing middle market quotation of the Loan Stock of 95.0 pence per £1 nominal of Loan Stock on the dealing day immediately prior to the date of this announcement, the purchase price for nominal value together with accrued interest on such Loan Stock on such day would be 110.0 per cent. of such closing middle market quotation of the Loan Stock."

scburbs
22/12/2009
13:07
Goliard,

The dilution from 150p to 81p is solely from the placing at a discount as no other adjustments to the June numbers are made.

The simple fact is that the board should have been selling assets not feathering their nests with discounted placings to Directors. The assets have to recover significantly in value to reverse the dilution and, therefore, shareholders would have been better of with a sale of assets at 10-20% below their true value.

Also, if you are going to do a heavily discounted placing then why are your loan notes valued at par. Taking out £7.5m of loan notes at par seems like massively overpaying when you consider the shares to meet them are issued at a large discount. If both the loan notes and the shares had been at a discount then it would have been a much better deal for MWB.

All round a very poor performance from the board IMV.

scburbs
22/12/2009
12:53
I am sorry to say that there is some real nonsense being written here.

Paddyloyd - no, it does not mean you have to increase your shareholding by 40%. Your shares already rank 'pari passu'. You have been diluted (in % terms), but benefit from the extra cash. The NAV has dropped for a number of reasons, with the placing at a discount being a very large part of that. If you wanted to keep the same percentage ownership (which I doubt is your motivation unless you own 10% plus) then you would have to buy more shares, but that would not affect the NAV of each of your shares.

As for requesting 'compensatory shares' at 30p, this is a ridiculous idea. The email from Andrew Blurton is crystal clear and I am unaware of any mechanism in the DTR (or elsewhere) for issuing this 'new' share class. Simply put - it would not be legal.

If the company had not raised this cash (in a terrible market) it would have breached covenants and quite possibly entered administration. You may not like the market conditions, but they are hard fact and cannot be ignored. I have little sympathy with the board as they should not have allowed MWB to get into this mess in the first place, but at least they are dealing with it - albeit at a very heavy financial and professional price. My guess is that they tried to raise more cash and they must be praying that they don't get another revaluation downwards any time soon or they are really in trouble.

I don't hold, but have become interested after looking for some serviced offices in central London. I may buy in, but not yet.

goliard
22/12/2009
11:16
According to the iii board there was the folowing:-

According to p. 71 of the capital raising prospectus the new nav would be 81p per share.



That is just over half of the latest NAV from the Company of £ 1.50.

Does this mean that we would have to increase our current shareholding by 40% odd to rank pari-passu with the Directors/Special Large Shareholders etc at whatever cost over 30p per share we are lucky enough to but them at?

paddyloyd
21/12/2009
13:46
So we learn from this email it took them 6 months to raise such a paltry sum considered the existing shares in issue versus the massive discount in the market price versus the laughable sum. I dont know which is worse, they fact its such an astonishing discount or it took 6 months. I suspect the later, it just goes to show how dire things are as the many banks fundies and insitutions who have full access to the facts during ths period shunned them.
envirovision
18/12/2009
09:31
Thanks johnv - I had a look at the iii board - some positive about the move but others fearful that if they do it once it can be done again further deleting our own holdings. Unfortunately, I am a long term holder here and will have to hang on regardless. Maybe hope over experience!
paddyloyd
18/12/2009
09:07
I can see this falling back to close to the placing price of 30p.
explorer88
17/12/2009
21:02
Paddy, even I never thought this would happen. Perhaps a RI but not this. I never had this happen to me before. Lots of interesting talk on iii board
johnv
17/12/2009
14:52
This question was posed

johnv - 11 Nov'09 - 10:05 - 160 of 178

Its been two months since Pyhrro increased their holding from 7.4m to 10.4m, (14% now)mostly taking these from Deutsche Bank. But where are they going to get more from?

Now it seems we know the answer.

Can't help feeling we're being shafted

paddyloyd
17/12/2009
13:20
Paddyloyd, You can buy whenever you like at the market price, but you can't buy in the placing.
scburbs
17/12/2009
13:14
Does this placing - no doubt it will be rubber stamped - mean that the existing shareholders can only buy after the placing (proposed listing on 12th January)at whatever price the market dictates then, or can we subscribe now at 30p as with the other major shareholders?

Would appreciate comment/advice from those much more au fait than myself in these matters - thanks

paddyloyd
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