Manganese Bronze Share Discussion Threads

[rthak] 17/9/2008 12:43

madmix - 17 Sep'08 - 12:02 - 418 of 418

That's what I thought but it was actually a CFD!! Does this mean that limited number of shares on loan (or all available have been loaned out

Any thoughts?

[davidosh] 17/9/2008 12:42

The key word there is 'notifiable' which means they have reduced to below 3% and any heavy selling or a large trade from here is probably likely to be their position. There could be nearly 700k still to go

[madmix] 17/9/2008 12:02

rthak,

Are you trying to short using a spreadbet?

If so, perhaps the company in question is already carrying a high level of shorts on MNGS, and isn't prepared to do any more (for reasons of risk management).

Try another spreadbet company.

[rthak] 17/9/2008 11:59

I have just tried to short this stock further but have been told that I can't - any idea what this means?

[rthak] 17/9/2008 11:37

Manganese Bronze Holdings PLC

Interest in Shares


Manganese Bronze Holdings PLC (the 'Company') announces that it has received notification
from Lehman Brothers International (Europe)
that it no longer has a notifiable interest in the Company's ordinary shares.


That's what we were all looking for...

[shanksaj] 17/9/2008 10:58

David,

Thanks for that. MORE bad news then!

[davidosh] 17/9/2008 09:51

Have you guys seen this on the BBC news website



TX4s recalled due to fires under the bonnet

[shanksaj] 16/9/2008 18:20

Did someone post that Lehman Brothers had shares in Manganese? In which case the liquidators will be selling them at whatever price they can get.

Any info welcome.

Regards,
A.N. Other Shorter.

Ah, yes.. I see the post now. This doesn't look too good for the share price.

There's so much thats bad about this company that it must be worth looking at increasing my short.

[davidosh] 16/9/2008 10:53

My line of thinking is that any squeeze if there were another attempt would be short lived....and the price would start falling again. The solution is to size your position accordingly unless you are of a trader mentality and wait for the share price to come in line with the fundies. I still honestly expect this to fall below £2 and possibly much much lower if the China dream does not play out. Those major shareholder and director sales suggest even they are not so confident.

[nickcduk] 16/9/2008 10:43

David - I don't think your line of argument is any different to what could have been put forward prior to mid July. That didn't stop the shares being bear squeezed all the way upto 550p. Trading was dire then as it is now. Broker forecasts were irrelevant. No one was buying based on this years sales.

[davidosh] 16/9/2008 10:36

I think if it were to move up strongly in this market there would be a good few looking to short it again higher up. There is no real appetite to buy this stock as we have seen from the continued drip downward for the last six weeks.

Sales of cabs are absolutely dire and prices of the second hand cabs at Mann & Overton have been slashed so the company can do very little to avoid losses and the stockpile of new cabs. The IMS in October will have to update on those sales and revenue shortfalls especially after that shocking house broker note with revenue overstated by nearly 30%

[nickcduk] 16/9/2008 10:18

Taken my pennies off the table and banked a decent profit. Do consider it to be overvalued but MNGS is the kind of stock where you shouldn't get too greedy. Its prone to sharp bear squeezes like it had on its way upto 550p. Id rather be out before everyone else is trying to close.

[chelseapaul] 29/8/2008 10:38

Just got back from China (Beijing) a few TX4's running around the place, London 2012 had a couple taking guests from venue to venue.
Strange seeing the cabs in yellow and white.

[felix99] 29/8/2008 10:34

I suspect the EMS has increased from 250 to 800 so perhaps they are obliged to quote the EMS as a minimum

[madmix] 29/8/2008 10:12

Interesting to note from Level 2 today that the Market Makers are now quoting in 800 share blocks. Previously they were only quoting in 250 (apart from KBC, who were showing 500).

If this remains the case, this should improve liquidity significantly, and therefore help to lessen any 'price spikes' in either direction.

[the analyst] 28/8/2008 18:52

Only a rumour at this stage (no source posted), but a post on iii says the Coventry factory are now down to a 2-day week

[welsheagle] 25/8/2008 13:11

From August's 'Company Refs', when price was 310p:-
a/ Prospective PE ratio of -90.3 (based on three broker forecasts, one recommending 'buy', one with no recommendation, and one recommending 'sell').
b/ Forecast eps in 2008 of 4.6p.
c/ Net asset value per share of 150p.
d/ Dividend yield of 2.21%.
e/ Turnover down from £113m to £103m in last five years.

[davidosh] 21/8/2008 16:27

Yikes...If you think housebuilders are having problems shifting houses check out the Mann and Overton website for second hand cab values. They have been slashed by about 15% in the last month with nearly all TX2 cabs that were priced around £22,995 now at £19,995 and £21,995 down to £18995. I can only count half a dozen that have been sold in July and the new reg plate comes in September so more reductions likely then to clear second hand stock.

The problem is that this stock has been taken in part exchange so all the profit on the new cab sold has just disappeared in a slash !

The banks will not be happy if that stock secured on those loans is falling in value so dramatically. I do not have a figure for new cab sales yet but July is generally a very quiet month hence the reductions.

[macansy77] 20/8/2008 17:30

"The Black Cab is a sign of trust, with drivers acknowledged to know the quickest, shortest routes to chosen destinations"

Christ, when was the last time they took a cab?

They should've added "...but to not necessarily take them" and "as long as it's not South of the river" for starters

[the analyst] 20/8/2008 14:24

"The Black Cab is a sign of trust, with drivers acknowledged to know the quickest, shortest routes to chosen destinations"

I wonder what they are putting in place to make sure that this will continue to be the case overseas?

[the analyst] 20/8/2008 14:18

I guess the next house broker note will have to be drastically revised

Their next house broker note should, at the latest, be released around the time of the interims in October and it could come as a bit of a shock to those that just read and rely on the house broker notes

[davidosh] 20/8/2008 14:02

Indeed...lots of guarded comments and references to the risk involved in the chinese joint venture. The sensible long term investor would certainly be looking at selling half and keeping half at this stage if they have not already taken some off the table on reading that research note.

[the analyst] 20/8/2008 13:58

Considering there are no firm orders for the Chinese cabs yet (only MOUs), that is a pretty grim paragraph to slip into the note regarding valuing the company at half the current share price, based on UK operations.

I think if I were a holder, I'd be hedging my position until there are signs that there are some real sales for the taxis and that the response to those bought has been good in the market.

As the note points out, "there is a fundamental difference beteeen an MOU and a firm order"

[uncle-bob] 20/8/2008 13:20

Did anyone else see the piece on Taxi in Beijing yesterday? It was during the BBC's coverage, I think, and said that the cabs would cost £12k in China and that they'd already sold 1/2 their next year's production, if I recall.

[davidosh] 20/8/2008 12:56

That is a significant downgrade from Edison....they had expected 6p eps this year but now go for a 3.2p loss. Next year has been downgraded by nearly 50% too. A marked contrast to that house broker note with the dodgy figures in it !

The house broker claimed revenue would be £105m this note correctly states a significant fall to £80m but with dire July sales figures I think they will struggle to reach that.

I still cannot see how the company avoided making a warning on current year expectations as they simply cannot possibly make a profit let alone the house broker forecasts and those flagged prior to the interims.