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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Miller Fisher | MFG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | - |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| Top Posts |
|---|
Posted at 09/7/2002 19:47 by eight of twelve Its all over MFG exists no longer........... they pulled the plug! |
Posted at 05/7/2002 13:07 by gten Whats happened to MFG? No postings today. |
Posted at 04/7/2002 06:44 by eugene1234 mfg suspended |
Posted at 16/6/2002 13:30 by pkvidean Peter,In this market, MFG has done well to hold on to most of its gains. The best we can hope for is more of the same until news of a profit is leaked to the controllers and/or the koala goes back into the forest and isn't replaced with a grizzly! IMHO. |
Posted at 15/5/2002 10:47 by gten 365 - I'm not worried about 200,000 sells at this price its only £10000, and the Directors are buying in 500,000 lots so it will all balance out. The prospect for MFG is very promising and agree it's going North. I'm convinced I did right in buying in on Monday. We will see possibly by August 2002. I will keep up to date with movements in this share. |
Posted at 09/5/2002 22:02 by pkvidean Surely MFG can make a £1m profit this year from circa £50m annual revenues. P/E of 20 seems right due to recovery potential with lots of earnings pedigree in the past. That equates to 12p just for starters given a £20m cap!For those of you that need reminding, MFG had a market cap of £51.9m on 25/01/1999 at a share price of 38.5p before rising to 89.25p and then blowing up. Methinks, we are in a 4 year cycle and the current market cap of £6.6m (is that still correct following the restructuring ?) looks juicily low. IMHO. |
Posted at 09/5/2002 19:44 by avoint Royal>Are you reffering to MFG or COST?If COST please use another thread.Thanks. |
Posted at 24/4/2002 23:00 by dimitry12 Citywire article Tue 23 April 2002 Intrinsic executes cash for equity swap at Miller Intrinsic Value has secretly increased its stake in risky insurance administrator Miller Fisher, which has managed to convert its massive debt mountain into equity. Citywire drew readers' attention to Miller Fisher (MFG) after catching veteran venture capitalist John Gunn picking up stock. The company has proved a terrible investment as it became increasingly evident that the market for outsourced insurance services, such as claims adjusting, was not materialising. In 2000 the group, by then loaded up with debt, moved into the red. When interim results came out in September 2001 the company was given a disaster rating by the market and the shares plummeted to below 2p. They had been trading close to 90p only 18 months earlier. In February the company announced that Bank of Scotland (BSCT) had agreed to exchange £13.25 million of the company’s £24.8 million debt mountain into convertible preference shares. Shareholders approved the move last month in effect giving the company vital breathing space. Intrinsic (ITV) lifted its stake in the company by 1.5 million shares after the deal was announced which takes its total holding to 4.4 million or 2.7%. The BoS’s decision to swap debt for equity is encouraging as it is represent a long term commitment to the business and if the company does have a long term future the stock could be very cheap at the moment. Gunn also describes his bet as long term. House broker ING Barings Charterhouse put out forecasts at the beginning of the year suggesting the company will report pre-tax profits of £3.9 million for the calendar year 2001 and it expects £4.5 million this year. Based on today’s price of 3p, the group is valued at a miserable 2.7 times last year’s expected earnings and a puny 2.1 times next year’s forecasts. Against these tantalising numbers, which suggest good value, investors should weigh up a number of factors. The company has disappointed in the past and could easily fall back into the red. Over £11.5 million is still owed to banks compared with a market capitalisation of £4.9 million and the debt still looks potentially crippling. Bank of Scotland could dilute shareholders by nearly 50% if it exercises all its rights over shares. Although Miller Fisher is in much better health after the debt for equity swap it still looks extremely risky but offers alluring potential rewards for those with real nerve. |
Posted at 22/3/2002 18:33 by kermat Who the hell keeps selling at such low prices?The seller looks desperate to offload - maybe this is forced selling due to some financial trouble or other which has nothing to do with MFG. Can't wait until results when maybe we will get some visibilty as to the state of the company, i cant see how things can be that bad since halifax surely would not have stumped up 13m without checking things out first. |
Posted at 21/3/2002 16:35 by pkvidean Yes, agree with IEN. Had to cut that loose fom my SIPP @ 3.5p. Bad decision! I notice that Ashley James has been banging on about WUN (Wellington Underwriting). Looks like a good alternative to ne and between that one and MFG I know which one I'd rather be on. Trouble is, if I cut loose this Irish dog and it actually recovers then I'll be looking at hara-kiri after such a long perseverence. So far, 80% of the time when I get rid of a company, I then have to look at it become one of the best performers in the market over te ensuing 2 years. Bet you guys hope I get rid of MFG! IMHO. |
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