Magnolia Pet Share Discussion Threads

[ettienne1951] 28/9/2018 11:46

That's it. The company ceased to trade on the repayment of the bank loan. Winding up.
Negative Equity reported of $400k odd at year-end Dec 2017. Going concern reporting was not applicable A couple of LT holders on LSE still didn't get it.

Rita and Derec Norman resigned 31 Jul - there's a surprise!

[papillon] 06/7/2018 13:13

Yes, FailedQS, MAGP was a very nice earner for Rita & her family members employed by the company. She's NO FOOL, unlike the mug punter fantasists on the lse who WERE FOOLS! They treated here like some kind of Goddess.

[failedqs] 02/7/2018 07:09

That's it gone now - farewell Magnolia..... Rita - I hope you are at least a little ashamed at prospering healthily from your total failure.

[gimmetheloot] 27/6/2018 14:18

Well it’s the AIM regulators that have allowed this fiasco to happen. She did what she wanted basically. Screw everyone and still profit. At least Bernie Maddof did time for his Ponzi scheme but this takes the biscuit altogether & right under the watchful eyes of the regulators & FCA.

[sleveen] 25/6/2018 09:18

If the prelims aren't published by the 30th June (now confirmed) then MAGP will be suspended.

Surely that's a sell signal?

[failedqs] 22/6/2018 16:58

Yup, Rita has totally ripped the guts out of this company. And her family too of course, they are the only ones who still benefit from the business.Off market she will take what is left, screw the shareholders one last time, and after a short time will probably do the same again with another quoted company.Rita - hang your head in shame.....

[sigora] 20/6/2018 15:00

cant go wrong with a 200k mcap in for a punt

[barnetpeter] 20/6/2018 14:50

10p less than a year ago and if this debt is cleared worth a small punt?

[babbler] 20/6/2018 14:30

Not with that spread there ain't...

[sigora] 20/6/2018 13:52

still life in the dog

[sclper] 14/6/2018 11:15

What makes you think it'll be a cyber security RTO Fletch?

[chinese investor] 14/6/2018 10:52

But Wait !

[kingharold] 14/6/2018 10:47

Hallo, Fletch. Are you still banged up Slade prison? You're doing a good job (your time - that is) so keep on handing out good advice. You seemed to know about MAGP OK. I hope you took some stock yourself. Realistically (for a sizeable bundle) it's showing about 25% for today: credit where credit is due. So when is it going to flip?

[kingharold] 14/6/2018 09:07

A "few quid" is not worth a click.

[ettienne1951] 07/6/2018 18:29

Extracted from the latest announcement regarding disposals:

"The Company’s current portfolio comprises interests in 108 wells and further details of the interests in wells and their economics were included in the Company’s operations update on 16 April 2018. The Company expects current PDP reserves to be approximately $3,300,000 and it is anticipated that the Disposal will result in approximately 50 per cent of its wells being sold by number."

Now according to the RNS dated 16th April announcing the Q1 Update, there were "119 producing wells in the Company’s portfolio as at end of Q1 2018" and "US$4,002,000 value (NPV9)"

So what happened to the 11 wells that have been removed since the 31st March well count? Silly question. This is MAGP.

[grannyboy] 06/6/2018 14:53

There's some seriously deluded FOOLS over on lse, and not just in magp, but zen is another.

[nicky21] 06/6/2018 14:30

buy some COPL to recover your losses here.

[sclper] 06/6/2018 13:13

The suspension request was probably denied