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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mice Grp. | LSE:MEG | London | Ordinary Share | GB0006064751 | ORD 4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.00 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
27/4/2007 09:00 | FreakNomad - 27 Apr'07 - 09:46 - 2176 of Well...the holders of the remaining 58.6% will be presented with a choice: administration, liquidation and so ending up with nothing, or a debt-for-equity swap, so ending up with something very, very small As I have already written earlier, I was a shareholder in Energis, so well aware of the various possibilities. | besbury | |
27/4/2007 08:46 | Besbury: However, in this instance there are holders of the remaining 58.6% of the shares in issue who would have a vote on any such proposal, don't you think? Well...the holders of the remaining 58.6% will be presented with a choice: administration, liquidation and so ending up with nothing, or a debt-for-equity swap, so ending up with something very, very small. The holders will choose "very,very small", because that's better than nothing. ProfessorSMSmith:The banks are supportive of the process of renegotiating the banking facilities. I read that sentence in the trading update as: "we're in breach of our banking covenants and the banks are hauling us over hot coals. They're supportive because we've promised them the shareholders' equity". | freaknomad | |
27/4/2007 08:40 | Sounds like they will need some kind of re-structuring! Can't be good for equity holders. The banks are supportive of the process of renegotiating the banking facilities. That's what it says! Clever words!! | professorsmsmith | |
27/4/2007 08:31 | I saw this as a positive, but then I am looking for a straw to cling to. The board also said today that it is in discussion with its bankers to renegotiate its banking facilities and confirms that the banks are supportive of that process. | besbury | |
27/4/2007 08:28 | Ummm - not such a good trade nilip?! Sorry to see this - looks good value now - but who knows which way this could go - only positive in statement - no specific mention of funding reqs as a result of this write-down ie potentially accounting - however with such low level accounting errors in the first place - what other nasties may potentially come to light? Currently looks like an over reaction - but who knows? | dunderheed | |
27/4/2007 08:12 | FreakNomad - 27 Apr'07 - 08:36 - 2171 of 2171 Maybe, but then if we get a debt-for-equity swap, the banks will own MICE, especially at this share price. They can then find a private buyer, recoup their money and current shareholders lose. This would be typical. Yes, FreakNomad, that is a possibility and I have experienced it before. I believe the last time may have been Energis. However, in this instance there are holders of the remaining 58.6% of the shares in issue who would have a vote on any such proposal, don't you think? Anyone else on here who is surprised there has not been a rush for the exit so far this morning? Or is it a case of the exit being blocked by those crafty rascals, to all but small numbers! | besbury | |
27/4/2007 07:36 | Stemis: That's 41.4% in the hands of 5. I suspect (hope) they are pressing Mice to seeks a bidder and bring this sorry situation to an end. Maybe, but then if we get a debt-for-equity swap, the banks will own MICE, especially at this share price. They can then find a private buyer, recoup their money and current shareholders lose. This would be typical. | freaknomad | |
27/4/2007 07:21 | no big sell AT trad, high risk! maybe down to 5-7P closed. | jdung | |
27/4/2007 07:18 | Looks like some bottom fishing happening. | stemis | |
27/4/2007 07:17 | Yes the drop to 12p (market cap of £21.3M) seems a big overreaction. The loss of value since this obviously leaked into the market is about £23M. The total value of WIP at the interim was only £30.6M! The fall clearly demonstrates the market's complete loss of faith in MICE. Its hard to disagree. It probably makes the likelihood of any fund raising much smaller. To get any new money into MICE would require a reasonable discount to current price and so any meaningful amount would be a massive dilution for existing shareholders. A quick scan of recent announcements shows major shareholdings of:-AXA 15.5% Barclays 11.4% F&C 7.7% Artemis 3.8% Bear Sterns 3.0%That's 41.4% in the hands of 5. I suspect (hope) they are pressing Mice to seeks a bidder and bring this sorry situation to an end. | stemis | |
26/4/2007 19:28 | Bargepole job now, on many many levels, not least because MEG has proved once again to be "leaky". | wiganer | |
26/4/2007 19:19 | "May be a good buying oppo tomorrow" - I hope the irony was intentional in that posting. This is going the same way as Photobition, another highly aquisitive company in a similar sector that ended in supension a few years ago. The mistake that many have made here was to assume that the January Trading Statement was the end of the bad news. The sudden and rapid deterioration in trading was always likely to be the beginning of a trend and MEG now looks to be unravelling at a rapid rate IMO. | joshalexander | |
26/4/2007 17:50 | There will me MICE Blood on the floor tomorrow !! | grassyknoll | |
26/4/2007 17:24 | Well there is the news on what caused the sudden fall (another SMC). May be a good buying oppo tomorrow. | scburbs | |
26/4/2007 16:58 | Over 30 trades went through on the Plus market, but impossible to be sure what they are in terms of B & S. | besbury | |
26/4/2007 16:58 | Stemis. I agree it can be hard to always accurately read buys and sells, but the 100k at 17.5p looks pretty clearly to have been a sell, and to have helped pushed the price down. | wiganer | |
26/4/2007 16:55 | The problem is that its very hard to read buys and sells. Advfn shows them to be relatively finely balanced however there is no guarantee that they have classified them correctly. The MMs may be working a big sell as yet unrevealed. There may also be concerted shorting going on. Clearly there has been an attempt to undermine the company. Whether that is genuine or malevolent we cannot know. Its an easy company to spread rumours about. Then again maybe there is something going on and those with inside information are heading for the exit. The problem is we don't know. As ThisTimeNextYear says, you pay your money and you take your chances. | stemis | |
26/4/2007 15:59 | TTNY I'm fully aware of the games MMs play, but if you look at today's trades you will see that the price action can be readily explained by buys vs sells. | wiganer | |
26/4/2007 15:57 | Wiganer >>> I can assure you MMs play lots of games to create markets. For example, maybe they have had a big order to fill at a certain price (seller) and drop the share price and then rise it to draw in buyers who take the bate thinking they have a bargain. These shares are being provided from the known seller from the beginning. Personally, we will have to wait to Mid May unless there is an RNS beforehand to see the results and get a trading update to see whether there is any reason for this drop. We all pay our money and take our chances. | thistimenextyear | |
26/4/2007 15:52 | I don't see manipulation, I see straightforward supply and demand. | wiganer | |
26/4/2007 15:47 | To be honest this looks to me like MM manipulation games trying to fill orders at an agreed price and make a nice profit on it. . At these prices either the MICE group has some terrible news to share OR this is a very undervalued play at these levels. Remember that this share has not been so cheap since 1996 when revenues were < £10m and profits < £1m. | thistimenextyear | |
26/4/2007 14:58 | edit : Sod it ! I've added a few more. | nilip | |
26/4/2007 09:41 | As far as I can see the company is doing what it said it would recently and is actively reducing debt (re: sale of leisure assets et al). It's looking to concentrate on its marketing services gp. There's no shortage of projects/contracts in the pipeline and it's just a matter of whether MEG can keep up, so to speak. Gross profit for the yr will be at least £6 Million due to delays in project work. The share price is now less that half what it was just a few months ago - more than compensating for the project delays imo. | nilip |
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