Metalrax Group Share Discussion Threads

[redips2] 28/6/2011 11:43

Do we have a buyer?

[pvb] 23/6/2011 13:16

come on guys i was making a point.

What point is that then?

dmhzx is bearish as he has lost a packet buying these at top dollar.

Do you know that?

[lludlow] 23/6/2011 11:07

come on guys i was making a point. dmhzx is bearish as he has lost a packet buying these at top dollar.

[omerta] 23/6/2011 10:58

MRX last paid a dividend in Oct 2007.!

[maltatrader] 23/6/2011 08:25

lludlow.........what divi? metalrax is not paying any divi at the moment. I think that you are referring to another company.

[lludlow] 22/6/2011 21:57

dmhzx - 13 Sep'02 - 11:29 - 21 of 251

My wife bought into these just before the Penny share guide said to dump them because they were too boring abut two years ago.
Since then nearly everyone I know has lost quite a lot of their portfolio.

Just sent in wifes tax return, and based on her original investment, the value of the shares are now 10% higher than when she bought and her dividend has been just over 8% AFTER tax.

Does anyone know of another single share that can get close to that??
Rock solid for two years, 10% capital gain AND 8% post tax dividend.

[dmhzx] 22/6/2011 21:16

well folks I see that someone hss filtered me, someone thinks I'm a professional deramper, but no-one has answered the question, or made any comments about the insanity level of the lease and buy backs.
and only today the share price has crashed again.
It's all a bit sad that someone posting a rational question is regarded as a deramper.

so am I deramping, or are there some ostriches about?

By the way, according to their website, this outfit is run by just ONE executive director. So if there are any others, they aren't good enough to get a mention.
I'd love to know who the clown is in charge of finance.

[rampant debra] 22/6/2011 15:06

if they've carried over the momentum over from 2h 2010 through to 2011 we will be laughing!

[redips2] 22/6/2011 14:47

Good news we hope debs---48000 buy on plus, just need a few more of those.

[rampant debra] 22/6/2011 12:54

must be due some news soon?

[rampant debra] 16/6/2011 14:00

lets hope its a beauty. they've paid enough debt off so far this year!!

[cockneyrebel] 14/6/2011 14:16

Wonder if they'll have a trading update?

Half year period ends June 30th.

CR

[yoyoy] 12/6/2011 18:33

from the annual report

"The Group's banking facilities allow the Group to draw down a maximum of £20.2m at 341 December 2010. The Group has secured banking
facilities with HSBC/RBS, totalling £16.5m at 31 December 2010, and an additional uncommitted Rolling Credit Facility of up to £2.7m. The
Group also has uncommitted ancillary facilities with HSBC of £1.0m at 31 December 2010.

An inter-creditor agreement between the Group, the Banks and the Pension Scheme includes a provision for the pension scheme and the
banks to have an equal share of the £12.0m secondary security after the banks' initial security of £17.7m.

Interest rates payable on the senior loan facility are at LIBOR plus 3.25% per annum. The Invoice Discounting facility has interest rates ranging
from the banks' base rate plus 4.5% to the banks' base rate plus 5.5% per annum, depending on the level of borrowing. The Rolling Credit
Facility (overdraft) has interest rates ranging from LIBOR plus 5.75% to LIBOR plus 7.0% per annum.

The Group incurred a total of £2.4m in banking, professional and legal fees to reach completion on the refinancing in 2009. £0.7m has been
amortised in the year and the remaining £1.5m has been disclosed as a reduction to borrowings.

Warrants have been granted to the banks over 4.99% of the issued share capital at the time of exercise, with an exercise price of 5 pence per
share. These warrants have been treated as a cost of refinancing and the IAS39 charge of £0.2m has been included in the debt issue cost
above and will be amortised over the term of the loan.

The Banking facilities contain certain financial covenants test relating to consolidated EBITDA, consolidated net borrowings and capital
expenditure. As at 31 December 2010 all covenant tests were met"

Posted just out of interest - been looking for investment ideas and reading the previous posts.

[rampant debra] 09/6/2011 14:39

okay. I would have thought a long term shareholder would have known if the board members had changed. Andrew Richardson knows what he is doing.

[redips2] 09/6/2011 13:25

Debs----I have filtered him, as I strongly believe he is a professional de-ramper. I question if he has many, or even any shares in this Co, so why he is bothered----low IQ maybe.

[rampant debra] 09/6/2011 12:16

DMHZX. hasn't a lot of the management changed since the bad old days of paying a dividend without being able to afford it and over expansion?

[electronica] 06/6/2011 14:00

Just got off the phone from my influential dog food dealer.

BUY

20 by Christmas

[electronica] 05/6/2011 06:39

Debra

Some sense at last.

MRX's new management are making a good fist of solving the debt problems that very nearly drove the company bust last year. A part of the process of unravelling the past misdeeds of the previous MRX bunch involves the paying down of bank debt with onerous covenants.

If that part of that process involves the substitution of this very controlling debt with standard leases then sobeit. I would rather have the new management in command of our company than a bunch of disinterested bankers. Let the very competent Andrew Walker take MRX forward without having to look over his shoulder for backstabbing bankers.

The new lease payments are trivial when compared to the new freedom for shareholder value creation that the new MRX team now enjoy.