Manx Financial Share Discussion Threads

[gears] 02/6/2017 19:19

Any news from AGM on the structural changes ?

[dan_the_epic] 07/5/2017 10:48

To a certain extent I agree with jonny. Plenty of choice out there, and if a company has refused to change its ways for this long....

That said, trying to enforce change here could unlock substantial value.

---not a holder---

[manxdpp] 06/5/2017 23:26

Hello

Just for clarity

If you decide to send me your questions for DE, then please indicate if you wish to be placed on a group email to allow me to circulate the full set of questions to participants.

By doing this you / your email address will be visible to ALL others in the email group.

ALL questions e-mailed to me will be distributed to the group email, unless you specifically indicated otherwise.

Thanks
David

[castleford tiger] 06/5/2017 16:07

lets use the channel then please share

[howhardcanitbe] 06/5/2017 14:23

Don't think they care Tiger. For that reason we need to pressure them as much as possible

[castleford tiger] 06/5/2017 14:04

I am 100% behind this as they cannot see that this is holding us back.

are other holders interested?

Tiger

[manxdpp] 06/5/2017 13:43

Good afternoon,

I have set up an e-mail account [e-mail] if you wish to contact me, happy to progress if we have sufficient support, thanks

[castleford tiger] 05/5/2017 18:19

manxdpp

Is that possible? sounds a cracking idea and heads of shareholder unrest

tiger

[gears] 02/5/2017 14:09

Apart from a rights issue how else can they raise regulatory capital ? The company already have loans outstanding.

[manxdpp] 02/5/2017 14:00

Afternoon,

As I live in the island, more than happy to arrange a conversation with DE to express the small holders concerns etc? I understand he is a reasonably approachable person.

David

[castleford tiger] 02/5/2017 13:35

yea right seen Barry bridge have a go at this on EKT and he is now bankrupt.
Far stronger case than on here.

Directors will be protected by insurance

tiger

[howhardcanitbe] 02/5/2017 13:15

The legal term is 'fraud on the minority'. The solution is a 'derivative action' in which the minority shareholders force (via the court) the company to take action against the directors.

[castleford tiger] 02/5/2017 11:53

Not sure JM or AB could buy as they are at the threshold?

Its clearly going to be a contentious issue and with them in effect controlling this have we any say?

Could we get access to the relevant person to put our view? Share soc ? could they help?

regards
Tiger

[gears] 02/5/2017 11:38

Would a rights issue be able to pay off the loans?

[howhardcanitbe] 02/5/2017 10:19

refinancing with bank debt best option for shareholders

[castleford tiger] 02/5/2017 09:58

ok but could we re pay the loans? have we got the funds?

tiger

[howhardcanitbe] 02/5/2017 09:28

Tiger they seem to be under the control of Mr Eke. The shareholders will need to form an action group and force them out. Minorities should also appoint a director. If the convertibles are rolled over in any shape or form there may be a case for legal action against the directors.

[castleford tiger] 02/5/2017 09:14

Maybe a lobby group to the non exc directors?

Tiger

ps holding close on 2.5% so they may listen

[m1keg] 02/5/2017 08:44

My first take.

Results are not too shabby.

A financial company being ripped off by other financial companies is a bit hard to swallow with all those extra personel watching we don't rip off the public!

Growth everwhere, except as noted in profit this year, and more to come in the future.

And best of all, if it ever comes to pass:

"This year will see a simplification of our capital structure and will be the year that we do more to reach out to the investing public."

One can only hope! Maybe a 10m (4-5%) Bond and clear the decks of all convertable loans and warrants.

[suetballs] 02/5/2017 07:20

Anyone excited about the results?!!!!!

[m1keg] 27/4/2017 08:57

Mr Eke (on board of both MFX and BILL) looking after Mr Mellon's interests.

[castleford tiger] 27/4/2017 08:43

WHO ARE the same directors M1keG ?

tIGER

[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.