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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| MG Capital | MAP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.50 | 3.50 |
| Top Posts |
|---|
Posted at 28/3/2006 00:03 by captainspock Is there anybody there ??Just in case anyone is interested MAP's slip into a loss of £577k from a profit of £904k is not as bad as would first seem as last years profit was primarily due to an exceptional write back of £910k resulting from redemption of convertible unsecured loan stock and the cancellation of a director's loan to the company. Indeed the very detailed statement accompanying the first half results appears to be fairly positive & optimisitic in the long term. Also the late 2.5p tick-up today on no trades, the first upward movement since the share consolidation in Oct 2004, would appear to indicate & confirm that the disappointing loss has already been written into the share price, particularly as it has been on a constant downward trend for around 15 months. IMHO, the worst seems to be in the past & significant recovery may not be too far away although most would probably still consider MAP as a speculative investment- could however be one to tuck away for any investors looking for long term gains. |
Posted at 26/9/2005 20:50 by captainspock Not sure of anyone has been looking at this one recently, as it has been a bit dead in the water here for months.On the face of it there appears little to cheer about for those long-suffering shareholders (myself being one of them !!) & I am a bit puzzled about what's been going on here over the last couple of trading days ?? After months of virtually zero inactivity MM's have suddenly dropped the price 2 days in a row by around 10p on the strength of no news, no trades & no rumours ?? Unless anyone else is aware of anything significant about to happen I guess this could mean one of several things IMHO:- 1) MM's are trying to drop the price to get hold of more stock in anticipation of good news ahead (which could be seen as a positive sign, long term). 2) MM's are trying to drop the price to encourage investors to buy-in, in order to satisfy a large delayed sell order by a shareholder trying off-load stock, due to the stock's illiquidity (which of course could be seen as pretty negative !!). 3) Significant delayed sells over the last couple of days not yet showing up. 4) MM's have got wind of trouble ahead and/or possibly an anticipated downrating. Who knows ?? Is there anyone else who flits in here from time to time who may have any incling as to what the MM's are up to here & why ? |
Posted at 08/10/2003 12:23 by optimist23 Someone must be about to dump their big holdings into the rise that we retail investors generate. |
Posted at 07/10/2003 16:54 by optimist23 Maybe got wind off one of the products to be launched as stated in the last Interim results:A number of new products are under preparation, designed to address specific investment needs. None of them rely on any sudden rebound in investor sentiment for a successful launch, and we hope to move ahead with the first one of them shortly. |
Posted at 09/1/2003 19:20 by double6 RNS Number:3468FMG Capital PLC 19 December 2002 MG CAPITAL PLC Results for the year ended 30 June 2002 Chairman's Statement A global bear market in equities is not the easiest background for building the foundations of a new investment business, but in spite of all the gloom and volatility MG Capital has managed to make some good progress during and since the year under review. Our focus is now very much on the establishment of new investment funds for which as a group we can provide management, administration, advice or other services. In February 2002 the Elite MoneyGuru Income with Growth Trust was set up with our FSA regulated subsidiary MoneyGuru Limited as its portfolio adviser. The performance record of this unit trust in its first eight months has been outstanding. Over that period it is 5th out of its UK Equity Income peer group of 83 funds and has outperformed the FT All-Share (total return) Index by 10.8% as at 5th December 2002. As investors take off their hard hats we believe they will see the attraction of a fund offering good prospects for growth and supported by a reasonable yield. The trust is currently still small in size, but with its track record now established, albeit still relatively short in duration, we intend to market this trust energetically over the rest of the year. January 2002 saw the launch of Resources Investment Trust. Our subsidiaries MoneyGuru Limited and Rectory House Associates Limited had been working for some time on this self-administered investment trust, and they were rewarded by finally booking very satisfactory one-off fees, amounting in total to some #380,000. I suggested at the interim stage that the success of this launch would give us the opportunity to get involved in the launch of other specialized closed ended investment vehicles, and so it has proved. Almost immediately after the Resources launch we started work with others on the launch of a new self-administered investment trust to be invested in smaller companies located principally in the UK. As with Resources, the aim was to assemble a ready-made portfolio of shares in small growth stocks at a time when these stocks were utterly out of favour and valuations had been hammered, by accepting subscriptions to the trust in shares as well as in cash. This new trust, New Opportunities Investment Trust plc, was in fact launched just a few weeks ago on 25 September 2002. This will have a significant and beneficial effect on MG Capital's financial position, which will be reflected at the interim stage of the current financial year. MoneyGuru Limited has benefited from fees amounting to #436,000 related to its work on the launch of the trust, with a number of such fees still outstanding. Moreover a new group subsidiary, NOIT Services Limited, has been appointed by the trust as the provider of certain management services, including personnel, administration, accounting and company secretarial services, subject to the overall control of the trust's board. Under the terms of the management services agreement, NOIT Services is entitled to an annual management charge of 1.5 per cent per annum of the net asset value of the trust. NOIT Services will also be entitled to a performance fee based on the performance of the Trust's net asset value over each half year, at a rate of 10 per cent of gains in the net asset value in excess of 6 per cent per annum (compounded annually), but payable only to the extent that the net asset value of the trust exceeds its previous highest net asset value. At the time of writing #22.3 million of capital has been raised by this Trust, with expectations of further capital being raised in due course. Those interested in further information about New Opportunities Investment Trust or in following its progress can access its website at www.noit.co.uk. As I noted above, there is still potential for New Opportunities Investment Trust to add more assets in the short term, and we are ready to help it to do so. Furthermore, the successful launch of this trust and its predecessor has encouraged us to turn our minds to the possibility of other closed ended investment vehicles which might be launched with our assistance. We believe that a launch of another closed end fund, not necessarily along the same lines as New Opportunities, is feasible before the end of our current financial year. The successful launch of New Opportunities more than made up for the postponement of the launch of K Fund, which was structured as an offshore domiciled global "macro" fund. We are currently in discussions to change the investment process and objectives of this fund with a view to moving forward with it in a new form in the first half of 2003. In the last Annual Report and then at the interim stage I reported on the acquisition of Synergy Seminars Limited in September 2001, the starting of a small financial advisory business under the trading name of Howard & Co, and the subsequent decision to sell this business at its net asset value to the team involved in setting it up. The view we took was that this business could grow better as an independent business, whereas MG Capital should concentrate all its energies and resources on building and servicing its investment products. We have written off #524,000 attributable to our investment in Synergy Seminars. As part of this sharpening of focus, expenses have been cut back significantly throughout the year and are now at an appropriate level to support the growth of a more tightly focused business. The costs of Rectory House Associates, our corporate consultancy arm, have already been reduced to a bare minimum. Its activities now fall outside our main area of focus but to the extent that they do not any ongoing activities will in future be undertaken elsewhere in the group. In order to support the business while it moves to profitability we completed two small issues of ordinary shares during the year under review, at the end of November 2001 and in early December 2001, raising a total of #575,000. As indicated at the interim stage, it is likely that shortly we will make a further equity issue to support the development of the business. It is obviously still early days for us in terms of assets under administration or advice, but we believe we have succeeded in establishing a solid basis for the development over the next few years of an exciting and substantial new specialist investment business. Our Annual General Meeting of Shareholders will be held on Monday 10th February 2003 at 10.30 am at Ocean House, 10/12 Little Trinity Lane, London EC4V 2DH. Enquiries MG Capital plc 020 7332 2040 Charles Fowler, Chairman Consolidated Profit and Loss Account For the year ended 30 June 2002 2002 2001 # # Turnover Continuing operations 436,440 179,470 Discontinued operations 359,961 - 796,401 179,470 Administrative expenses (2,590,537) (2,877,916) Other operating income 27,221 1,784 Operating loss Continuing operations (1,753,403) (2,696,662) Discontinued operations (13,512) - (1,766,915) (2,696,662) Interest payable and similar charges (85,871) (36,735) Interest receivable 2,004 374 Loss on ordinary activities before taxation (1,850,782) (2,733,023) Tax on loss on ordinary activities - 21,036 Loss on ordinary activities after taxation (1,850,782) (2,711,987) Non-equity dividends payable (91,819) (49,537) Loss for the financial year (1,942,601) (2,761,524) Basic and diluted earnings per share (0.81p) (2.62p) Consolidated Balance Sheet as at 30 June 2002 2002 2001 # # Fixed assets Intangible assets 3,137 14,918 Tangible assets 172,371 248,716 175,508 263,634 Current assets Debtors 98,230 245,761 Cash at bank and in hand 2,667 278,419 ________ ________ 100,897 524,180 Creditors: amounts falling due within one year (789,039) (544,077) ________ ________ Net current liabilities (688,142) (19,897) ________ ________ Total assets less current liabilities (512,634) 243,737 Creditors: amounts falling due after more than one year 952,530 982,530 Capital and reserves Called up share capital 2,407,859 2,391,423 Share premium account 2,243,489 1,135,514 Profit and loss account (6,257,868) (4,315,267) Preference dividend reserve 141,356 49,537 ________ ________ Shareholders' funds (including non-equity interests) (1,465,164) (738,793) Total capital employed (512,634) 243,737 Consolidated Cashflow Statement for the year ended 30 June 2002 2002 2001 # # Net cash outflow from operating activities (1,453,204) (2,564,615) Returns on investments and servicing of finance Interest paid (14,206) (8,999) Interest received 2,004 374 _______ _______ Net cash outflow from returns on investments and servicing of finance (12,202) (8,625) Taxation (710) - Capital expenditure and financial investment Payments to acquire tangible fixed assets - (50,835) Sale of trade investment - 31,358 Proceeds from sale of tangible fixed assets 6,353 - ______ ______ Net cash inflow/(outflow) from capital expenditure and financial investment 6,353 (19,477) Cash outflow before financing (1,459,763) (2,592,717) Financing Issue of share capital 1,124,411 2,121,123 Conversion/Issue of debt (30,000) 982,530 Expenses paid in connection with share issue - (244,486) ________ _______ Net cash inflow from financing 1,094,411 2,859,167 ________ _______ (Decrease)/increase in cash (365,352) 266,450 The report and accounts are being posted to shareholders on 19 December 2002 and will be available from MG Capital plc, Ocean House, 10/12 Little Trinity Lane London EC4V 2DH. This information is provided by RNS The company news service from the London Stock Exchange END FR DGMMZGLVGZZM A FEW BUYS OVER THE PAST FEW DAYS - IN DUE COURSE PROFITABILITY LOOKS TO BE ON THE CARDS. WITH A MARKET CAP OF LESS THAN A MILLION (AND 300K JUST BEEN RAISED) I REMAIN HOPEFUL OF SUBSTANTIAL RETURNS - OF COURSE DYOR ......... |
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