Mbl Share Discussion Threads

[davidosh] 05/2/2011 12:01

Pjohnnso....Are you an MBL shareholder ? I had not seen your name on here before.

I spoke with PC yesterday and he says that it should be possible to have either another conference call or a meeting in London in about two weeks time. There should be no reason why a face to face event cannot be on dial in so everyone can benefit. naturally we all have lots of questions and now we are out of the takeover panel conditions they should be able to answer everything !

[pjohnnso] 05/2/2011 11:37

Can someone please forward me BOAF posts on [e-mail]?

[someuwin] 04/2/2011 22:53

Spot on CR!

[cockneyrebel] 04/2/2011 17:21

I am amazed at the gulibility of some investors.

Geeze, I think so many flags have been waved here by so many that I'm amazed there's anyone left invested in this company to talk about it.

Pulling Birdsofafeather's posts is outrageous imo. What he posted was in the public interest whether the co like it or not. I guess Cowgill knows how Obama feels about WikiLeaks now tho :-)

I'm amazed some question Birds'of's motive too. What does his motive matter? It's pretty clear he was very close to the company and the fact someone has requested the posts be pulled sort of confirms that in my mind.

My old man used to say there's none so blind as them that won't see. What is it that makes a punter hang on to a losing stock like this? Do you feel that you've been beaten somehow in taking a loss and moving on? Is it just the fact that someone holding fears it might be doubly worse to sell and then see the stock bounce? Director holdings are that large that you're screwed imo.

I'd have thought months ago when all the stuff was posted here about businesses connected with the Allans supplying MUBL, nearly being struck off, CEO's being paid 5 times what the Prime Minister gets paid to run a declining £8m co and a Chairman getting a £300K cash bonus (not even in shares lol! WARNING! WARNING! - one of the first co's I've seen that grants directors retrospective CASH options!) that this was all one almighty sell signal.

Perhaps the real truth is that some have so many shares in this illiquid stock that they constantly have to sing a happy song in the hope they can keep it high enough to dump chunks while giving it the positive spin.

If you want Birdsofafeather to contact you why not open a twitter account and post your handle here for him?

CR

[maxcashflow] 04/2/2011 15:38

I bought a few more yesterday, trying to average down a little. I hate the opacity and flitting between business models but on balance I think the drop is overdone.

[davidosh] 04/2/2011 15:36

Thanks guys. Kimboy sent them on. No contact received from BOAF though. He seems to have had his wings clipped for whatever reason or Advfn are involved and he cannot post anymore. I am sure if he wants to he will find a way of communicating though as many seem to have dozens of aliases on Advfn.

[jonc] 04/2/2011 15:36

Will do it in a minute or so.

Some of it is saved on my office server and someone is emailing me the necessary attachment.

[maxcashflow] 04/2/2011 15:33

JonC - you can send to [e-mail] and I'll forward them to David.

[jonc] 04/2/2011 15:30

I have been out all day DD.

Did Kimboy send the posts if not leave an email addy here and I will send them on.

JonC

[davidosh] 04/2/2011 13:44

RBCRBC...Very true. I would really like to see Matt buying. Lisa bought over a year ago at more than double this price!

Masurenguy...Be assured the new FD knows all about Ian Crawley. Note the ATCG link as he was interim FD at Daisy last year. I am sure he knows all about the IC share buying

[kimboy2] 04/2/2011 13:08

If he had bought £100k then that would be a statement of confidence. I think one moths salary from MUBL, and he has at least one other source of income, would fall into the nominal range IMV.

[rbcrbc] 04/2/2011 12:53

19,000 shares at 49.5p = £9,405.

Without knowing the level of his personal wealth it is difficult to judge his level of commitment. If he is just an ordinary bod it is a reasonable show of support, if he has any serious money it may be a pittance. And, of course, he may not have finished buying.

Some similar show of support from Matt and/or Lisa and others might be nice.

[masurenguy] 04/2/2011 12:49

DD - remember Ian Crawley !

[davidosh] 04/2/2011 12:36

The Board of MBL, the UK distributor of home entertainment products, was informed on 3 February 2011 that, on the same day, Steve Walsh-Hill, Finance Director, purchased 10,000 ordinary shares of 75p each in the Company ("Ordinary Shares") at a price of 49.5p per share. The Board was also informed on 4 February 2011 that, on the same day, Mr Walsh-Hill, purchased a further 9,000 Ordinary Shares at a price of 49.5p per share.

Following these acquisitions, Steve Walsh-Hill now has an interest in 19 000 Ordinary Shares representing approximately 0.11 per cent. of the Company's issued share capital.


What are we to interpret from these early share purchases ?


The new FD is certainly taking a real interest within a few days of his appointment as director. I understand he has been there nearly a month so should have a feel for what is happening but we have to remember that the FD last year picked up a bonus to double her salary and she never invested any of it in shares and is now the COO. Mmmmm How much can we value director trades in MUBL ? I guess he has a fair idea of how much cash will be coming into the company due to the stock transfers mentioned in the RNS.

[miamisteve] 04/2/2011 12:08

I wasn't convinced in the slightest with PC's explanations. JD doesn't have the same incentive bonus scheme. With regards to PC's reputation, I think given that the companies profits were rising and the obscurity of the company he thought it wouldn't have caused all that much attention.

Now it would do far more damage to his reputation to backtrack, so like a politician he lies and gives lip service. He's been promising non-execs and transparency for over a year now.

[jeffian] 04/2/2011 11:57

I agree on both counts, Times. Given his other interests, one can't believe the money was an overriding consideration. As to the former, he did recognise the problem and I'm not sure it's fair to say he's had enough time to change it. TA is the 'Key Man' in terms of the principal trade relationships and ran the business as a 'one man band'. PC very much saw his role as building a team to take over the TA role but this is going to take more than the few months since we saw him. Whilst he's still there, there's hope IMHO; if it's hopeless, surely he'd be out of there like a scalded cat?

[timesmoney] 04/2/2011 11:45

jeffian
PC does have a good reputation and track record I would not question his ability but, would question his judment on two accounts. Firstly why stay with MBL when the structure is wrong and runs contrary to accepted plc standards, he has enough time to change this, also the lack of transparency or investor relations. Secondly and this is something he will have to live with on his CV, the £300k bonus which was never justified and always looked very bad when viewed alongside his co directors outrageous bonus. Now both bonus payments look even worse.

[mr hangman] 04/2/2011 11:33

Not looking good this..

[davidosh] 04/2/2011 11:26

JonC or Kimboy2....Could you mail me with copies of the BOAF posts as I did not take any copies. Thanks.

[deswalker] 04/2/2011 11:25

Well obviously Stock is booked at the lower of cost and net realisable value and they claim to have considerable experience at valuing future selling prices (note 14 of the AR).

The impression given by the Trading Statement is that a significant proportion of this Stock by volume will go to Morrisons should the contract be lost.

So the unknown is whether the price agreed for this transfer agrees with that in the books. Clearly that will be subject to negotiation and may end up being lower than estimated and stated by MUBL, but it is hard to see it being massively lower as these products were bought at Morrison's behest in the first place. Naively one would expect it to be Morrison's who would have to take at least some if not all of the hit.

[jeffian] 04/2/2011 11:22

To be fair, Peter Cowgill did address these issues at the investor presentation last year and I set a lot of store by how he handles this. Cowgill has a significant reputation to protect and has plenty on his plate already successfully running JD Sports and with corporate action looming via JJB. I don't suppose he wants all that upset by his part-time job where, we were led to believe, he was drafted in as NEC by the NOMAD to provide some credibility. He struck me as no-nonsense and trustworthy. I'm on a significant loss here and have considered bailing out on several occasions (3369), but if he goes that's it for me.