Myhome Share Discussion Threads

[martke] 22/7/2008 18:55

Why are private sharedealers arguing with each other?

I am sure we have all been caught out by talking to a companies management at share events and thinking we have the true picture (Any info they tell you that is not released in writing should be ignored).MYH management were clearly plausible, or Nigel Wray would not have put in millions of pounds.

The issue to me is that this is another company where the management have destroyed the company and misled (lied ?) through the company RNSs. The Management will be payed to leave and nothing else will happen to them. Why dont the FSA or fraud squad invite them round to explain the differences between the RNSs and actual events?

I think this company shares will become worthless and would sell at any price if I had any. No new franchisees are going to pay tens of thousands of pounds for a franchise in a company that might go broke. Without the sale of franchises the bank account deteriorates further.

Why would anyone put 2-3 million pounds into this to rescue existing shareholders, when they could take the company off the banks in return for garenteing the banks debt?

[still waiting] 22/7/2008 18:15

now who was it said this co. wouldn't be effected by the economic environment??

they overpaid for their aquisitions and will now have to pay the price, the ordinary shareholders will be wiped out in any d4e deal.

[marycurer] 22/7/2008 17:38

what a fanstastic share this turned out to be

im laughing very hard at gsands and rsi

[redd] 22/7/2008 17:12

GSands, funny how I thought you made sense on the house builder bb's but then I saw you posting here and realised you were inconsistent. Talking up a business that relied heavily on a strengthening economy was absolute madness but you carried on regardless. Now you know the dangers but too late. I hope you think long and hard before ramping another useless business like you did this............

"GSands - 30 Jun'08 - 12:54 - 167 of 296

Brandon, I hope you are enjoying yourself.

If you want to short this stock (unlikely) or encourage others to sell, then that's fine with me.

I've done my research and I believe the market has got this company wrong. Therefore I have bought.

To me these results are an obvious 'kitchen sink' job. The management seem almost deliberately bearish. There are a few nuggets in the statement, however, for the keen eyed reader. Nuggets which suggest that the next six months will be much better.

I like the company. I like the business model and I believe they can grow, organically, into a very large company indeed."

Just 3 weeks ago. Beggars belief!

[mikey_b] 22/7/2008 17:06

there was 25% to be had here today, almost.

loveit - you in these now?

[love it] 22/7/2008 17:01

Think I'm off the fence now. Never good news that sort of RNS.

Good luck all

[mr hangman] 22/7/2008 17:01

Your joking, after today Brando is probley selling the big issue or
renting his body out to old men in toliets

[argy2] 22/7/2008 16:54

lol

cue GSands

[mr hangman] 22/7/2008 16:43

Brando's post from 16/05/07

"cldn't resist, sold elsewhere to free up some funds, and just picked up another 2Ks worth at 83.45. had placed a speculative fill or kill at 83.52 when it was at 83/84, and was amazed to get in at less than the midprice. just in time before it ticked up as well!"
delighted....
And no doubt still holding them, biggest idiot in the village

[brando69] 22/7/2008 16:42

bought in at 79p and sold out at around 100p

[donaferentes] 22/7/2008 16:41

for a sensible thread, no comment on today's RNS?? how sensible is that?

[mr hangman] 22/7/2008 16:39

Having been reading other MYH threads on ADVFN, i see it never stoped you
puting your cash in this Brando LOL

[brando69] 22/7/2008 16:37

"The first time I saw him, he was swinging into the MyHomes car park in his Aston Martin, with the roof down. This gave the impression of someone with quite a lot of ego. I'm not keen on such a brash display of self esteem, especially from someone who runs a company whose share price has gone from 100p to sub 5p. A bit more modesty and a lot more accomplishment would be better."


Gsands reveals his investment strategy:

lurks in the car parks of plcs with biro and jotter, noting down specs of cars driven by the board members.

Dirty mac or duffle coat?

[mr hangman] 22/7/2008 16:35

"In O'Connell's defence, when I visited the company I got the impression he was running a very tight ship."
Yes a tight ship that has just hit a iceburg this morning

[gsands] 22/7/2008 16:32

I will have to do some digging on O'Connell.

The first time I saw him, he was swinging into the MyHomes car park in his Aston Martin, with the roof down. This gave the impression of someone with quite a lot of ego. I'm not keen on such a brash display of self esteem, especially from someone who runs a company whose share price has gone from 100p to sub 5p. A bit more modesty and a lot more accomplishment would be better.

As far as the company's true position is concerned, it is difficult to judge without full figures on their current trading. Presumably Lloyds have this info and they don't like what they see. It is possible of course that Lloyds have a disproportionate aversion to small companies of this type and would prefer to see shareholders take on more liability.

I would prefer to see the figures myself and make my own judgement.

I have emailed the company today, but unfortunately have not been able to get any additional information. However, I understand from my other lines of enquiry that from an operational side, the company continues to perform well.

In O'Connell's defence, when I visited the company I got the impression he was running a very tight ship.

[nigelsom] 22/7/2008 15:53

GSands - I'm inclined to agree with you, but for the small matter of Russell O'Connell who, as far as I can see, has successfully destroyed almost all the shareholder value in the company. The company needs shot of him ASAP, after which point one might be more tempted to look at the assets and try to assess the value that is left over. But until Russell is shown the door I can't see any value here as he will just wreck that too.

[brando69] 22/7/2008 15:05

gsands

you are king of the muppets, and clearly still clinging desperately to your crown.

all hail the muppet king.

where's your court buffoon, Jester RSI?

[gsands] 22/7/2008 14:56

The current valuation, if we add market cap and debt together at £11m, values each franchisee business at £13,750.

Seems a bit low to me.

[gsands] 22/7/2008 14:53

Company profile:

Turnover: £80m
Franchisees: 800
Vans: 1000
Geographical: 14 countries


Market cap: £3m
Debt: £8m (??)

[gsands] 22/7/2008 14:50

Read this in the context of the market valuing MYH at c£2.5m (plus £8m of debt)

Commenting on the Acquisition, Russell O'Connell, Executive Chairman of Myhome,
said:

"I am delighted to welcome the ChipsAway management and franchisees to the
Myhome group. After this acquisition, the Enlarged Group will have over 800
franchisees, a combined network turnover in excess of #80.0 million, over 1,000
vans in use and franchisees in 14 countries, making Myhome one of the biggest
franchisors in the United Kingdom. I believe the Enlarged Group now has all the
necessary infrastructure, personnel and brands in place to accelerate the
development and growth of the Group's proven franchise concepts. "