Mg Capital Share Discussion Threads

[safman] 07/10/2003 15:43

was thinking of buying a pure punt..

[skiski] 07/10/2003 15:43

On 2nd Oct Mr C Fowler director, transferred some 3.5 millions shares into his SIPP at a price of .45p. Something similiar was done some days previously. At the time .45p was a fair bit higher than the market price. Could this have something to do with it. Not rushing into these.

[optimist23] 07/10/2003 15:41

bought 100,000 at 0.65, trade not come through yet

[safman] 07/10/2003 15:32

unbelievably up 107%???

[safman] 07/10/2003 15:31

what is moving this..??

[safman] 07/10/2003 15:28

up 84%.. and still moving..

[safman] 07/10/2003 15:27

up 76%..ride like the wind?

[safman] 07/10/2003 15:19

the only recent thing is that directors have put a few mill shares in their pension plans at 0.35 + 0.45p respectivly... anyone?

[safman] 07/10/2003 15:15

up 35%... don't know too much about this one..moving fast...

[safman] 07/10/2003 15:13

up 33%.. and moving...

[safman] 07/10/2003 15:12

up 15% ..Just noticed this one .. dir

up 18% as i speak...

[simonevans] 02/10/2003 21:39

big sell today seems to have caused the price drop - the sell was at .2p...fairly desparate! What's the view on this one then; is it going bust? Who is the interest paid to (i.e. who is supporting the company)?

[quidzinn] 15/7/2003 11:35

another winner doubley ??

Q

[double6] 19/6/2003 00:34

Looking Good now - news imminent ??

[double6] 18/6/2003 08:55

At last some movement.

[double6] 09/6/2003 19:53

Another BIG buy today (!)

[kingsway] 17/4/2003 05:59

How can you fall off the floor?

[double6] 03/2/2003 19:21

More buying again...

[shifty clifty] 28/1/2003 00:55

Sometimes small is beautiful. A well run company can be big or small.

Keep up the good work double6

[double6] 28/1/2003 00:49

A couple of buys gone through ..... anybody any thoughts on MAP ??

[stewjames] 27/1/2003 19:34

NOIT (epic NOI) off to an inauspicious start in terms of NAV. Not really underperforming the market this month though. The shareprice has been hammered rather harder since its inception. I note their fees (attributable to MAP I believe) amount to about 300K. It already looks unlikely they'll be earning success fees on NOIT this year IMO which leaves a long way to go to overcome the cost base. What other income streams are you expecting?

[double6] 27/1/2003 19:15

Shifty - do you hold any MAP ??

[double6] 09/1/2003 19:20

RNS Number:3468F
MG 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 .........

[double6] 07/1/2003 19:07

At last a little interest - 275k Buys today.