Manx Financial Share Discussion Threads

[nick rubens] 20/8/2013 12:57

They might be in the money on paper but I doubt they can offload them until there is real demand and a return to increasing and growing profits which looks likely over the next year and so.

[smithie6] 20/8/2013 11:46

"The Company announces that it will issue 12,500,000 new ordinary shares in the Company (the "Ordinary Shares") following receipt of a conversion notice from Southern Rock Insurance Company Limited, the holder of GBP500,000 of convertible loan notes, which were originally issued on 8 October 2012. The loan notes will be converted at a price of 4 pence per share with effect from 31 May 2013."


----

very dubious imo

who has ever heard of a loan note being issued in October and converted in May....
only a few months later...

not me.....

a loan supposedly provided for the bank to provide more loans to clients....
clearly not true imo.....a bank can not improve its business in large way with a loan of only 1/2M for 8 or 9 months.

it looks suspicously like a simple scheme to allow dirs. to obtain shed loads of new shares at 4p.....

when it would be impossible for them to buy such large numbers in the market...

self enrichment ?
illegal ?
imo the shareholders have been "reemed" by the bod !

[castleford tiger] 20/8/2013 09:54

15 to 20 p new target?

[m1keg] 20/8/2013 08:56

I think Andrew is a very happy man today, I know I am!

[cliley454] 20/8/2013 08:47

Been watching these a while and managed to get a few first thing but wish I'd bought sooner.
Off topic, if you want to get in before the crowd take a look at PPS. In talks with Transport of London but yet to officially announce it.
hxxp://www.thejournal.co.uk/business/business-news/fuel-cell-maker-proton-power-5748483

[robbo35] 20/8/2013 08:43

Lovely start, wouldn't mind announcements like that every day!

[balcony] 20/8/2013 07:45

The chairmans last sentence should boost the share price today

[gears] 20/8/2013 07:38

8-9 & market not open.Results must please.

[strutt12] 12/8/2013 12:30

Andrew,

We will have to revise the figures on our bet due to the rights issue it's only fair to revise from 10p to 5p due to the share dilution doyou agree? unless of course they hit 10p before the rights issue ;-)

Strutt

[castleford tiger] 02/8/2013 07:38

Results this month or next?

Earlier the better for me as I think the turnaround is now well under way.
10p after numbers will be the new base.

tiger

[castleford tiger] 18/7/2013 12:05

Plenty of deals being done
A

[castleford tiger] 28/6/2013 19:04

I think the year continues to do well.
Some divisions in the finance field are better than others.

tiger

[dleftpalt4] 25/6/2013 15:44

Further evidence of the favourable trading conditions for the sector are today's results from Private & Commercial which are summarised below:



Financial Highlights:
-- Reported profit before tax up 9% to GBP0.83 million (2012: GBP0.76 million)
o Excluding one-off profit in 2012, like-for-like profit before tax was up 30%
-- Reported profit after tax up 20% to GBP0.57 million (2012: GBP0.48 million)
-- Earnings per share up 20% to 1.1p (2012: 0.9p)
-- Net assets up 6% to GBP9.3 million (2012: GBP8.8 million)
o Net assets per share increased to 17.7p (2012: 16.6p)
-- Loan loss provisioning charge fell by 32% to GBP2.3 million (2012: GBP3.4 million)
-- Return on average assets increased by 26% to 1.0% (2012: 0.8%)
o Excluding one-off profit in 2012, like-for-like return on average assets was up 53%
-- GBP17 million of unearned finance charges to contribute to income in future years
Business Highlights:
-- Successful GBP5.9 million fund raising in November 2012
-- Committed debt facilities extended and increased to GBP95.3 million
o Headroom of GBP20.5 million to fund growth
-- 48% increase in returning consumer finance customers
-- 27% increase in new business volumes in Q4 over the equivalent period in 2012
-- Over 70% of all new business originations falling within top two credit grades
-- Portfolio growth resumed in the last quarter of the year and has continued to grow strongly since
-- Continually improving quality of portfolio


Hopefully the half year update from MFX will be very positive.

[strutt12] 04/6/2013 09:41

Andrew,

I'm sorry, I think you misunderstood my comment. The bet is first one to 10p.
I was replying to your comment of buying in at 8p given the option of MFX at 8p and CRES at 3.5p I was saying that the risk reward was better on CRES, ie the chance of each stock doubling from that point!!

Hope that makes sense?

Strutt

[gears] 03/6/2013 10:39

With the AGM a few weeks away there may be more news on prospects.Consolidation & making a profit are just the start in my opinion.

[dleftpalt4] 02/6/2013 10:35

I agree Tiger onward & upward. Market conditions remain very much in the company's favour and with the cost cutting that has taken place I am confident 2013 will produce good results

[castleford tiger] 01/6/2013 14:22

Strutt

Hi Andrew,

My money is on UK Coal getting to 10p first!!!

Good Luck ;-)

Don't you be calling for 16p now.We were 5p at the time. Bet was first to 10p...!!

You cannot win that and you know it.

I know I am mainly talking to myself here but I think the current BOD are doing a decent job.
I hope the first half has started well ( must have because the uk banks are clueless)I see a profit in first half and a bigger one in 2nd half.
With tax losses we could be on a nice little ride here.
It may look high what the director paid but in 12 months it may look like a steal.

tiger

[castleford tiger] 30/5/2013 18:16

Good results and director buying.

target 10p by summer 20p by 2014 on eps of 1p this year and 2 next

tiger

[strutt12] 03/5/2013 11:44

Andrew,

I've doubled up on cres as I can see that doubling to 7p quicker than I see mfx getting to 16p.

But thanks for the offer!! ;-)

Strutt

PS the hare and tortoise is still on!!

[castleford tiger] 01/5/2013 19:01

Strutt.

Not too late get some QUICK!!

Tiger

[gears] 01/5/2013 15:42

The 40,157 trade at 8p confirms your view Tiger.

[strutt12] 01/5/2013 10:39

Best take that bottle off ice, Andrew!!!!