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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Metnor Grp. | MTG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 22.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 22.00 | 22.00 |
| Top Posts |
|---|
Posted at 17/12/2012 19:41 by roddiemac2 Hello Bedbel. I hold 45,000. Certainly, we should stick together and try to do something about it.The original document from the co. was sent out on the 4th of Dec.: 21 days takes us to xmas; they have chosen their time well giving investors minimum time to get their act together.I only received a letter from my broker today. I have requested that steven Rankin ring me. he has emailed me saying he will ring tomorrow. The offer is unfair on two counts (1) the cash offer is nearly seven times less than the NAV. (2) The B shares are deliberately a poor substitute for the existing Metnor shares ,since they will have less rights than the A shares. Legal action is a distinct possibility, even if we have to create a precedent. Keith Atkinson confirmed that most holders have small holdings , and it is likely that they will take the cash . I know of one other small holder, but will speak to my broker ( Redmayne ) to see if they can help me get in touch with another seven holders with Redmayne. We do need to get in touch with as many holders as possible I will be out till 10pm. Let me have any thoughts you have on the way forward. |
Posted at 08/3/2009 00:29 by rainmaker Hi All, The management own 70.3% so it's bid proof. I just feel it needs to emphasised that Management want to delist because they are fed up with the lack of interest in their shares where I believe that daily volumes average just 4k and often don't trade, the short termism of the typical Investor which is ironic since this delisting measure has IMHO created a great short(medium and long for that matter)term trading opportunity. Presumably they also believe that the Market fails to value their shares properly-I wouldn't disagree on that score.It seems thesedays everyone is looking for a conspiracy theory and are looking for a Company to have a hidden ulterior motive. I'm just accepting their reasons which are quite plausible at face value.Sometimes it pays not too think too hard. regards |
Posted at 24/2/2007 12:19 by energyi Bill Fleckenstein describing the current mortgage market:Connecting Mortgage-Related Dots Buckle up, this is a long one. I feel I need to spend some time discussing the financial dark-matter market, how dots may be connected there, and how dots may get connected all through the housing/finance food chain. For today's column, I'm indebted to my friend in London, who I am about to quote from extensively... Turning to yesterday's email from my friend, I want to share his description of the CDO market, and his thoughts on where all this bad housing paper may be residing: "So who owns all this securitised subprime garbage, which you could describe as scratch-and-dent loans? The answer, unsurprisingly, is CDO managers, hoping correlation will be low. . . Valuation and ignorance aside, here's how it might get ugly. A cash-flow CDO does not mark to market. So right now, no matter how bad things are in subprime, an investor is not going to be terribly worried about their exposure unless one of the ratings agencies specifically downgrades those tranches within a CDO. I understand that the CDO investor will then have to take a mark-to-market loss, as discussed yesterday, and that's when it becomes problematic. "So what we need to look out for now is any signs that the ratings agencies are starting to focus on the CDOs themselves, and perhaps we are getting closer to the point where one of them actually does something about it. I imagine the last thing Moody's management wants is to be hit with a swag of class action suits when the game finally ends. "Last night we saw considerable interest in certain financials CDS. I will say though that there is a certain irony to buying a CDS on a major US bank, given they very likely provide many people who might want to put the trade on with the finance and leverage to do it in the first place." I intend to stay focused on these developments, because as events take place, it will perhaps give us some clues as to the timing of the unwinding of this whole financing bubble. Of course it will have huge ramifications for the economy and the stock market ...more/post#39: |
Posted at 20/2/2007 11:12 by nickjoseph Still in these as well. Not much happening or news. Momentum Investor out this weekend. Might get a mention if we are lucky. |
Posted at 16/2/2007 06:42 by energyi Mortgage Lenders Battered by Late PayersThursday February 8, 5:50 pm ET By Dan Seymour, AP Business Writer Mortgage Lenders Plunge As 2 Banks Warn of Missed Payments, Depreciating Home Loans NEW YORK (AP) -- The mortgage industry plunged deeper into distress this week as two lenders said sagging home prices and higher interest rates are pushing many borrowers into delinquency. HSBC Holdings PLC, Europe's biggest bank and a major player in the U.S. mortgage industry, said the market for "subprime" mortgages, or home loans to people with blemished or limited credit histories, is in trouble. Analysts' estimate for how much HSBC needs to sock away for problem loans is shy by a fifth, HSBC said. The London-based bank estimates it needs to set aside almost $10.6 billion to cover loans it won't be able to collect. Shares of mortgage providers fell across the board on Thursday, none hit as hard as New Century Financial Corp., a subprime mortgage lender based in Irvine, Calif. The company said late Wednesday accounting errors caused it to lose track of how drastically some of its mortgage loans are losing value. Three Wall Street analysts downgraded New Century, and the company's stock plummeted $10.92, or 36.2 percent, to close at $19.24 on the New York Stock Exchange. The stock crashed through its previous 52-week low of $29.07, set last month, to reach an intraday low of $19.12. During the housing boom, many mortgage banks devised crafty loans allowing people to borrow money with no down payment and pay low interest rates for the first few years on adjustable mortgages. Now, as interest rates reset higher, more borrowers are missing payments and many lenders are going out of business or putting themselves up for sale. Subprime loans were once very attractive to some banks due to their higher interest rates. But HSBC said the weak housing market exacerbates credit problems in the subprime mortgage space. Until a little more than a year ago, stretched borrowers who needed to raise cash could take out a second mortgage on their houses and use that money to pay off loans. With housing prices stagnant -- and in some markets falling -- consumers' best source of financing has shriveled. The problem for these types of lenders may not go away quickly. "We expect poor subprime credit trends to continue at least through 2007 and into 2008," Merrill Lynch analyst Kenneth Bruce wrote in a research report. U.S. shares of HSBC Holdings fell $2.44, or 2.7 percent, to $89.78 on the Big Board. Another reason bad credit plagues mortgage lenders is it shrinks appetite for home loans in the bond market. Most mortgage lenders don't keep their loans; they package them into bonds and sell them to investors. Lenders' profits are determined by how much the bonds sell for. ...more: |
Posted at 24/1/2007 07:47 by sheik yerbouti The buying earlier in the week was down to the tip from Momentum Investor which may have prevented the dip. |
Posted at 22/1/2007 09:11 by gucci momentum investor tip SY |
Posted at 11/4/2006 17:53 by volvo Growth Investor.Chairman Howard Gold hints at 'key developments...at an advanced stage of negotiations', which could help ensure another 'strong performance' for 2006. At 249p, up 2p today, the shares, which bottomed at 150p three years ago, value the company at £38 million. In full Metnor moves on profits spike SHARES in evolving group Metnor nudged north to 249p on a 47% profits leap to £5.1m for the year to December, ahead of analysts' forecasts. Adjusted pre-tax profits, adding back goodwill and the exceptional costs of closing its galvanizing plant in Middlesbrough, moved from £3.4m to £5.1m on record turnover of £79m. Chief executive Stephen Rankin said all major divisions at the Newcastle-based firm, with the exception of galvanizing, made strong contributions. Contracting business Norstead had a good year, particularly in the South, the construction arm performed well, making encouraging gains in the health care and care homes sector, and Metnor also has property development projects in the pipeline. Construction and property represent the future for Metnor, which has already announced an exit from low margin galvanizing, an area of the business hit by overcapacity and rising raw material prices in the market. The galvanizing business is being sold to full-listed Hill & Smith, subject to OFT clearance. Once the deal completes, Metnor should have over £14m of cash on its balance sheet. Forecasts for 2006 from Brewin Dolphin strip out galvanizing, and profits have been pulled back from £6m to £5.3m from a top line £78m, giving earnings of 23.8p. By 2007, investors might expect a profits move to £6m, and earnings of 27p. That leaves Metnor trading on forward multiples of only 10.5 and 9.2, with prospective yields of over 4%, and a soon-to-be fortified balance sheet. Recommendation: Buy. |
Posted at 30/1/2004 07:41 by churchtower Investors Chronicle Buy recommendation this morning. Anyone who is tempted beware. The Company maybe a decent one but the MM's will take you for a ride because of the illiquidity of the stock. They will put the price up this morning without any doubt. Having owned this stock for over two years I speak from bitter experience. There are much better places for your money out there. AVOID LIKE THE PLAGUE. CH. |
Posted at 28/1/2004 08:14 by churchtower Finally bailed out of this under performing share after loyally holding it for over two years. The disgraceful antics of the MM's finally was too much. I shall not return. I hope Mr Pither reads this Bulletin Board and realises the lack of action has lost yet another investor in his Company. CH. |
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