Manx Financial Share Discussion Threads

[m1keg] 24/4/2017 19:25

This is a direct quote from BILL's end of year report.

Quote
Our Board of Directors has provided valuable guidance and insight once again in 2016. They asked the right questions, made insightful suggestions and focused intently on actions to ensure growth in shareholder value. To them, all shareholders are greatly indebted.
Unquote

Its a pity that the identical directors sitting on MFX's board have a brain f*rt when in MFX's boardroom thinking about the same issue.

[howhardcanitbe] 24/4/2017 17:40

Certainly as many of us need to attend as possible and make our voices heard. I believe the NEDs should voted off the Board.

[manxdpp] 24/4/2017 13:26

Maybe the next AGM is the place to vote off any NED standing for re-election?

[m1keg] 23/4/2017 09:40

Tiger,

Is this the piece you had found?

Arron Banks
CEO - Precision Risk and Intelligence

Arron brings a wealth of business experience to Precision, having sizeable interests in connected banking, insurance, tax and trust companies.

Precisions's strategy is to provide a global end to end security and intelligence offering, with an energetic, opportunistic and entrepreneurial approach to solving problems.

He was the founder of a number of companies including Brightside group, one of the largest listed Insurance Brokers in the UK, the largest shareholder in Manx financial, an Isle of Man private bank.

Freudian slip?

MikeG

[howhardcanitbe] 22/4/2017 21:28

The non-executive directors have a lot to answer for. The minorities are getting trampled on.

[castleford tiger] 22/4/2017 12:45

Totally agree, but as I see it they cannot take the new shares unless they sell some.
The deal was a poor one for shareholders. They are getting extremely high interest rates so should tear up the warrants.
This co has not created shareholder value rather it destroyed it.

Remember the 80p days!!

Tiger

[howhardcanitbe] 22/4/2017 09:34

Tiger the Board should refinance the notes with debt. Rolling them over would cause uproar with us shareholders!

[castleford tiger] 22/4/2017 09:11

maybe get an update with the accounts. Who knows when that maybe.

Important dates coming up with the loan conversion.

tiger

[m1keg] 16/4/2017 18:47

I think this is the final judgement of the VAT case and if I read it correctly HMRC appeal has been thrown out. At least in that case the provisioned revenue should stand in the final accounts.

hxxps://www.supremecourt.uk/cases/docs/uksc-2015-0224-judgment.pdf

I wonder what the falling out was about to cause Mr Kelly to walk out of the door. Real pity I liked the man. Just the same old bunch of Yes men left now so I'd be VERY suprised if the pending loan solutions were simply to leave the situation as is with the threat of dilution stopping many people from investing here.

[castleford tiger] 03/4/2017 08:05

See that Mr Banks still claims to own a bank in the IOM ?

Ref Sunday Times money section back page.

tiger

Thanks Suet..........you may be right

[howhardcanitbe] 02/4/2017 21:03

I thought Mr Grant had already had a go at unsuccessfully running the Bank before Mr Kelly was brought in to turn things around?

[suetballs] 01/4/2017 12:02

Tiger
Current. (but could be both)
But not selling - I hope that 9p is the floor.
Suet

[ntv] 31/3/2017 22:37

i am out now after bounce back to where i bought in, took a small loss
unknown costs are worrying and share dilution
leaving it for others to play

[castleford tiger] 31/3/2017 18:27

historic or current suetballs?

Tiger

[suetballs] 31/3/2017 18:19

Always a worry for me when they put the FD in charge especially when the boss leaves with immediate effect. I smell something nasty,
Suet

[castleford tiger] 31/3/2017 10:59

Clearly an issue!
We may get an update with Numbers.
That will be just before or after Easter looking at previous dates.

Shares look cheap but the market does not think so!

Tiger

[m1keg] 31/3/2017 10:24

Well losing your bank manager before the results come out seems a bit odd. Something he did not agree with?

[suetballs] 03/3/2017 16:11

A move up maybe.
Suet

[wiseacre] 05/1/2017 11:35

From Growth Company Investor before Christmas

Despite its tiny size, Manx has two high-profile backers in Arron
Banks, who owns 29 per cent, and chairman Jim Mellon, with
17 per cent, whom we might assume are interested in expanding
the scale of the company.
The Isle of Man has never been in recession, making it an
attractive place to do business. It’s also a good source of retail
deposits for Manx’s Conister Bank, which has been operating
since 1935 and is a strong local brand. Manx has also been
building up its local IFA network, but the main growth potential lies
on the mainland.
Manx accesses the UK market via brokers but is beginning to
undertake direct lending. This could well lead to further expansion
in the UK, possibly through acquisition if the right vehicle could be
found. Most lending is secured, with over half the book consisting
of hire purchase loans.
The market cap of £9 million stands at a 30 per cent discount to
shareholders’ funds of £12.8 million, despite Manx earning a posttax
return on equity of 17 per cent last year. Even allowing for
dilution from outstanding convertibles and warrants, the shares
would still trade on a discount to NAV and a historic p/e of 7. n
MANX FINANCIAL Ticker MFX Sector Financial Services Market cap £9m Share price 9p BUY

[wiseacre] 25/11/2016 08:23

Looks good to me

[suetballs] 25/11/2016 07:36

Some news at last!
Suet

[gears] 03/10/2016 18:50

Tiger the reasons you mention are why so many AIM companies are delisting. 75% are needed to go private. Whilst this is not the case with MFX there are some leaving.

[castleford tiger] 03/10/2016 17:35

I do think Jim and the BOD need to have regard for shareholders.
The AIM is to create wealth for shareholders and that can include Directors.
It does seem that directors are gaining most ( can I get 7% on my money please ) there is practically no market in the shares. No broker coverage. No information for shareholders. The date of results would be a start!
I feel a long letter to them coming on.
Jim thinks the new shares to be issued will not be be a problem ( source Twitter feed )
I think he has that wrong.
The price today says it all
Tiger

[smithie6] 03/10/2016 17:12

Tiger having another bad day !! ;-)

(Too many strange things at this co.
- Jim Mellon
- conv. loans to co. when co. didnt need cash apparently (when the LAW requires equal treatment of ALL shareholders...ie. shouldnt do special deals with dirs)
- numbers for receivables being written off are imho HORRIFIC ! (hopefully not from 'mates')
- commissions as a % are HORRIFIC

All imho....each to own view.