Metalrax Group Share Discussion Threads

[electronica] 05/1/2011 12:48

CR

Jimmy Leek - decreasing not increasing!

[cockneyrebel] 05/1/2011 12:39

Good to see old Jimmy Leek increasing here again :-) Remember what he did with Torday & Carlisle that became E.Wood :-)

Constant buying here recently - agree about th chart choppa.

CR

[choppa] 05/1/2011 11:05

I'm not much of a chartist but the EMA 20 and 50 are starting to curve up and EMA 100 has flattenedand and is on the cusp of an upturn. Not seen that since the downtrend began a few years back.

[rampant debra] 04/1/2011 12:47

Metalrax Group.
Holding(s) in Company
RNS Number : 8723Y
Metalrax Group PLC
04 January 2011



TR-1:



NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:



Metalrax Group PLC



2. Reason for the notification (please state Yes/No):



An acquisition or disposal of voting rights: Yes



An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: No



An event changing the breakdown of voting rights: No



Other (please specify): No



3. Full name of person(s) subject to the notification obligation:



James Anthony Leek



4. Full name of shareholder(s) (if different from 3):



As above



5. Date of the transaction (and date on which the threshold is crossed or reached if different):



31 December 2010



6. Date on which issuer notified:



31 December 2010



7. Threshold(s) that is/are crossed or reached:



5%



8. Notified details:





A: Voting rights attached to shares



Class/type of shares if possible using the ISIN CODE
Situation previous to the triggering transaction


Number of Shares
Number of Voting Rights

Ordinary Shares

GB0005838247
6,040,500
6,040,500






Resulting situation after the triggering transaction



Class/type of shares if possible using the ISIN CODE
Number of Shares


Number of Voting Rights
% of Voting Rights









Direct


Indirect


Direct


Indirect



Ordinary Shares

GB0005838247
5,990,500
5,990,500
Nil
4.99
Nil




B: Financial Instruments

Resulting situation after the triggering transaction



Type of financial instrument



Expiration Date





Exercise/Conversion Period/ Date




Number of Voting Rights that may be acquired if the instrument is exercised/ converted.


% of Voting

Rights




N/A
N/A
N/A
N/A
N/A






Total (A+B)



Number of Voting Rights


% of Voting Rights



5,990,500
4.99%






9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable



n/a



Proxy Voting:



10. Name of the proxy holder:



n/a



11. Number of voting rights proxy holder will cease to hold:



n/a



12. Date on which proxy holder will cease to hold voting rights:



N/A



13. Additional information:



N/A



14. Contact name:



Nick Longley, Company Secretary, Metalrax Group PLC



15. Contact telephone number:



0845 030 3300






This information is provided by RNS
The company news service from the London Stock Exchange

END

[rampant debra] 04/1/2011 12:46

RNs out. James Leek has been busy again. naughty boy.

[rampant debra] 04/1/2011 12:35

certainly is. mrx and rgd looking very good. debs

[cockneyrebel] 04/1/2011 12:27

Up on volume today.

CR

[cockneyrebel] 30/12/2010 15:12

150K buy just gone through - not easy to achieve with MRX, pretty illiquid.

CR

[electronica] 30/12/2010 12:04

Debra

That sale & leaseback was v positive for me too. Shows the management are serious about the real business - to perform well they didn't need to be constantly looking over their shoulders at a bunch of controlling bankers (hope that I spelled that right). Less debt is great - the fact that the cost is containable is excellent.

[rampant debra] 30/12/2010 11:23

agreed. i still the sale and leaseback as an overall positive. shows the directors are serious about turning this company around.

[cockneyrebel] 30/12/2010 11:22

Chart looking a bit horny here imo.

Been a bit of buying recently - year end tomorrow.

CR

[stevefoster] 23/12/2010 12:58

BH,

It does to me as well.

They're trading £1.82m of existing debt for an net annual increase in cost of £100k (1st year). With annual rent reviews, that net difference isn't going to stay £100k for long. Assuming 5%pa rent growth and stable debt cost, they'll pay out ~£2.85m over 15 years (net). The annual rent growth has to be less than 1.45% for the deal to show a true profit.

It strikes me that they might just as well have said "we'll increase our debt payments by £100k pa" to the banks (assuming the debt is bank-owned). I'm sure that would have been cheaper (fewer fees), and made the banks just as happy. And would have avoided the book loss on disposal.

[cockneyrebel] 23/12/2010 12:47

it might cost another £100K but getting the debt down may mean lower borowing charges going forward if they refinance. May have been certain issues in their banking agreements that ment they had to get the debt below a certain figure by a certain date too imo.

The reduced debt makes these more attractive imo.

CR

[rampant debra] 23/12/2010 12:17

why do you say that bounty? paying an extra 100k a year. hopefully they will make that up easily from profits or cost cuts in other areas of the business. whichever you look at it overall debt is coming down nicely.

[the bounty hunter] 23/12/2010 11:30

this looks a poor deal to me.

[cockneyrebel] 23/12/2010 11:27

Interesting news - looks like debt will be down below £10m come year end perhaps.

All looks like these are heading the right way - t/s in Jan I would think.

CR

[rampant debra] 17/12/2010 15:41

price has ticked up as well.

[rampant debra] 17/12/2010 15:40

just got my alert. good to see richardson topping up again.

[cockneyrebel] 17/12/2010 15:25

I had a look back - t/s was early Dec last year but normally they have a t/s mid Dec.

Looks like the directors adding a few more, one month ahead of the t/s.

Seeing they have said the full year will beat that all looks rather positive to me.

CR

[cockneyrebel] 17/12/2010 15:15

Directors buying :-)

CR

[the bounty hunter] 13/12/2010 09:49

Made good progress since sept

[cockneyrebel] 08/12/2010 10:51

Buying picking up here I've noticed the past couple of days.

CR

[rampant debra] 07/12/2010 19:56

Me too. made a decision to top up here in the next week or so for the long term.

[cockneyrebel] 07/12/2010 19:54

yep, I think punters might get a wake up call in the Jan t/s.

CR

[rampant debra] 07/12/2010 19:41

taken from iii, coutesy of mike c in bristol on the black rat cider.








a friend showed me a copy of a report from Arden Partners; some MRX snippets as follows ...



' ... The specialist engineering businesses are tracking meaningfully ahead with the main thrust being significant improvement at Toolspec and Weston Body Hardware. PGL tougher trading, but order book is now 72% higher than H1 09. Revenues for consumer durables H1 10 fell by 3% ... tho' efficiency gains meant this moved to breakeven.
H1 10 numbers show meaningful progress as management stimulate top line thro' focus on operational improvements instead of negotiating with bankers; the bottom line is now clearly responding to this ... As profits rebuild so the investment case de-risks;
we move from Neutral to Add to reflect this.'

sounds good; i think Arden are the only guys presently covering MRX

cheersmadears