Miller Fisher Share Discussion Threads

[avoint] 27/4/2002 12:27

now they r on the rebound.Volumes creeping up.

[avoint] 27/4/2002 12:23

upto 3.625 buy now....looks like i'm right

[avoint] 27/4/2002 00:32

This penny share is poised for recovery.Certainly worth a punt!!

DYOR Good Luck

[365] 27/4/2002 00:24

buys continuing to strengthen 100k just gone thru, certainly gaining speed

[rbtrage] 27/4/2002 00:13

Just being nibbled at now but, when this one does move, man does it move fast.

[avoint] 26/4/2002 22:32

Look at the delayed trade.Buy at 3.625.........here we go

[avoint] 26/4/2002 20:53

Volume up from 100k last week to 1.5Mil today!!!It's heading NORTH
Results are out the way and trading statement looks positive.

[avoint] 26/4/2002 20:51

Next week we should see this Northward bound.Few hundred thousand would have been nice :)

[365] 26/4/2002 15:40

1.M buys so far last 100k @ 3.5p looking healthy for next week

[365] 26/4/2002 15:34

up 16.7% so far 3.25/3.5p

Reckon those 100k & 167k trades were buys too.

[365] 26/4/2002 15:12

we are off 3.25/3.5p all buys

[rbtrage] 26/4/2002 14:52

Gathering momentum steadily - doubt it will be 3-3.25 @ close.

[365] 26/4/2002 14:08

Avoint> a few hundred...pence? that would be nice before Xmas!

Should get some press coverage soon, anyway all buyers today. Will take a while but I expect a steady climb from here.

[avoint] 26/4/2002 13:25

Done some research and see a good upside in this.

DYOR

[avoint] 26/4/2002 13:23

Been looking into this too.Agree fully.Well worth a few hundred.

DYOR

[avoint] 26/4/2002 13:21

Just got in.See alot of potential here.Well worth a dable.

DYOR

[brasseye114] 26/4/2002 13:12

Hello again Brass.
What do you reckon shall we have a dabble?Last time was very Lucrative.
Go on then.
(:@)

[brasseye114] 26/4/2002 13:10

And you can spell Millerrr Fissher.

[365] 26/4/2002 11:41

LONDON (AFX) - Miller Fisher Group PLC said it widened its loss per share
for the full year to 10.64 pence from 1.95 the previous year and said the
financial restructuring is complete, adding it now faces 2002 with renewed
confidence.
The company said its current trading position has now stabilised and that
during the first quarter of the current year it consolidated its existing client
base, having experienced growth and an increased demand for its services from a
number of key clients.
Chairman John Hodson said: "I believe that the group is already seeing the
first signs of recovery. However, the way ahead remains challenging and is not
without risk."
Sales on continuing operations in the full year to Dec 31 were down at 41.1
mln stg from 48.3 mln a year earlier, while it made an operating loss before
exceptional items and interest of 4.9 mln stg compared with a profit of 1.1 mln
previously.
Loss per share share before exceptional widened to 4.71 pence from 0.57 a
year earlier.


Strongbuy> you still holding these?

[365] 26/4/2002 11:39

Volume's ticking up quickly today

[365] 26/4/2002 11:28

Brasseye> I agree, I been steadily adding over the past weeks and think this will be a ground floor opportunity.

All buys today, expect more will follow now that the results are out of the way.

John Gunn's been accumulating too!

[brasseye114] 26/4/2002 11:02

Anyone got "Real Nerve"?
A speculative dip of the toes again me thinks.

[dimitry12] 25/4/2002 00:00

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.

[365] 15/4/2002 14:56

In sleep mode but for how much longer!

[mrkournikova] 25/3/2002 11:49

Nice to get some clarification on where we stand. Clear that the forced sellar forced Miller Fisher's price down to ridiculous low levels which was a shame. I genuinly expect to see continued gains as the weeks go by. This is a company that has turned itself around and will be a good recovery story. Nice to have that small comment in the weekend press.
Anyone checked out ROK propery solutions?? Symbol ROK
This is a cracking growth story...reminds me of the great days at Mears Group.
MrK