Marwyn Mgmt Share Discussion Threads

[jpjp100] 04/12/2012 09:50

they are good wellies

of that there is no doubt

[freddie01] 22/11/2012 11:26

That about sums it up jpjp100.

[jpjp100] 22/11/2012 10:34

so, prior to the wellie deal, MMP had net cash £13.1m

It then bought the wellie company for EUR16.5m (let's say that used up all of the £13.1m, that is close enough for now) on a 12.69 EBITDA multiple.

So we now own a share of 380 buses and the wellie co

[sscrabble] 20/11/2012 15:01

Another report that tells us nothing !!

[sscrabble] 03/10/2012 14:34

so , in effect , they bought 16 months ago with shares that at the time were valued at 38million - but was that 38 million before debt , or after ?

As you say - 16 million cash 'after debt' - how much debt was there when they bought it- they never handed over any cash , just shares - so is the 16 million all profit ?

I do not understand if they have dealt well - have they bought and sold at a big loss - if so why if praesepe were doing well ? - or have they made money on the deal ?

[eburne1960] 03/10/2012 13:19

Am I the only one that's read the statement?!

"The gross consideration for the sale is GBP76.0 million on a cash free, debt free basis, payable in cash. The sale includes all the gaming divisions within the MMP group, being Praesepe Plc ("Praesepe"), Restcare Limited, Baleday Limited and Beacon Bingo Limited.

Following repayment of debt and debt related items, adjusting for target net debt remaining on the balance sheet and payment of transaction related fees, the sale is expected to represent net cash available to MMP of approximately GBP16 million, with a further GBP2.7 million paid into an escrow account in relation to various indemnities given to Merkur under the sale and purchase agreement (the "Escrow Amounts"). The impact of the sale is to reduce the consolidated net assets of MMP as at 30 June 2012 by approximately GBP25 million. "

So £76 million before debt is taken into account, £16 million after.

[sscrabble] 03/10/2012 12:25

Acquisition of Praesepe plc ("Praesepe") in June 2011 for £38.8 million payable in MMP shares.

they bought it for £38 million - they sold it for £75 million - yet they are making it sound like they made a loss ? A £37 million profit and they only have a market cap of £20 million. The shares are at a third of the price when they took it over , and yet this significant gain has done nothing for the share price .

What is going on ?

[eburne1960] 02/10/2012 21:07

"The impact of the sale is to reduce the consolidated net assets of MMP as at 30 June 2012 by approximately GBP25 million. "

[sscrabble] 02/10/2012 18:08

Praesepe sold and another company bought , but no mention of whether any 'profit' was made on the sale ? I bought into gaming but have no idea what I have shares in now !!

[jpjp100] 25/9/2012 09:22

I think the risk now is that the Praesepe management team gets frustrated at the battles it undoubtedly has to have within MMP for access to any finance that does become available

Not sure how many times they could / would lose out to the bus / luxury division before the frustration got so much that their energy levels started to dwindle

[freddie01] 24/9/2012 10:36

It's been a disaster sscrabble. I made a big mistake with Praesepe and like you looking at a two thirds loss.Hanging on in hope more than anything now.

[sscrabble] 24/9/2012 10:33

Beginning to think I have bought into one of these companies where it is just a vehicle for the directors to make money - no one seems to be interested in the shares - Praesepe used to give info and regular updates but now we get nothing - my holding is worth about a third of what it was before the takeover - the half yearly report was about as basic as you can get.

[sscrabble] 07/8/2012 20:12

going down every day !!

[sscrabble] 01/8/2012 14:49

Wondering now if this is just some kind of scheme for the directors to make money at the expense of shareholders - where are the director buys ? where is any kind of news to help the shareprice - it is just going down and down - why did praesepe let this lot take them over ??!!

[jpjp100] 01/5/2012 07:58

another small and imaginatively financed acquisition for Praesepe - sends out the right signal to the industry imo

bus division continuing to make moves

not seen anything to comment on from luxury division other than bills!

[jpjp100] 21/3/2012 14:36

the change in the tax regime for gaming machines that was announced in the budget should be good news for Praesepe

The new regime should be a slightly reduced tax burden for Praesepe from the date of introduction and, the way it is structured should allow venues to be loaded up with more big payout machines than the current regime allows. Generally that is regarded as a good thing.

(Basically its a move from a tax on having a machine in the venue, to a tax on the profit that a machine makes)

[sscrabble] 28/2/2012 13:09

Oh heck - down we go again

[mr hangman] 03/2/2012 15:12

Hello Mr E, Thought you only bought stocks in the hottest oil basins around
the world

[eburne1960] 03/2/2012 14:14

Bit of a tick up on large volume, so I have finally bitten the bullet and bought some.

[eburne1960] 27/1/2012 22:10

Has it bottomed though?

[sscrabble] 26/1/2012 23:44

lots going on , but has not stopped the share price dropping by over 50% !!

[freddie01] 18/12/2011 21:19

Director Dealings By Perry Gourley
Published on Sunday 18 December 2011 04:00


MARWYN Management Partners last month completed a deal to build its presence in the gaming arcade market with the purchase of more than 60 sites in the UK.


The company, which specialises in acquiring businesses in growth markets in the consumer, industrials and support services sectors, bought 63 Agora arcades in a £6.7 million deal.

Its Marwyn Gaming subsidiary, now operates 159 arcades and also operates bingo clubs and a bingo website. Following the deal three directors went into the market to increase their stakes last week.

Robert Ware, non-executive chairman, bought 95,318 shares at 50p and now holds 150,000 and non-executive directors Ian Steer and Stephen East bought 60,000 and 30,000 shares respectively.