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MFG Miller Fisher

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Miller Fisher LSE:MFG London Ordinary Share GB0006946296 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- 0 GBX

Miller Fisher (MFG) Latest News

Real-Time news about Miller Fisher (London Stock Exchange): 0 recent articles

Miller Fisher (MFG) Discussions and Chat

Miller Fisher Forums and Chat

Date Time Title Posts
07/1/201501:07ex Goldman JON CORZINE robs us blind and denies wrong doing..classic!!1
17/2/200711:34MJ'S FUNNY GIFS77
20/10/200211:41MFG - About to head NORTH8
20/10/200211:17TIP of the WEEK4
06/8/200221:57Miller Fisher could be about to EXPLODE Upwards.177

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Miller Fisher (MFG) Most Recent Trades

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Miller Fisher (MFG) Top Chat Posts

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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 10/5/2002 08:34 by avoint
pkvidean> You raise some intersting data here.I think this stock has alot of upside potebtial.The restructuring is in place,the news is flowing and now the share price should start moving.
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 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 31/1/2002 10:17 by brasseye114
The London Stock Exchange has several types of trade.

Each has a one or two letter code.This is a complete list of the codes.
'O' Ordinary Trade (System will delay if over 6 x NMS)
A standard trade made through the Market Makers and dealt at normal settlement date.

'B' Broker to Broker
A transaction between two member firms where neither firm is registered as a market maker in The security in question and neither is a designated fund manager.

'EU ' Euro Automated Trades

'ER ' Euro Trades

'K' Block Trade
A transaction using the block trade facility.

'L' Late Trade
Late trades, as the name implies, are trades that are reported to the Stock Exchange some time after the trade has been executed. There can be a number of reasons for this. Stocks have a market size, the size varying with each stock. If a trade is executed that is six times the Normal Market Size then the market makers, for stocks traded on the full list, do not have to report the trade for 1 hour after the trade was executed. Once reported, this would show as a late trade. A trade would also show as being late if the bargain had to be amended for any reason, like an alteration to the settlement date. Once the bargain was amended, the amended bargain would show up as a late trade.

'LC' Late Trade Correction
A correction submitted more than three days after the trade date or where deferred publication is permitted at any time after the trade report was submitted to the Exchange reporting system.

'M' Market Maker to Market Maker
A transaction between two market makers registered in the security in question including those executed through an inter dealer broker or a public display system.

'N' Non Protected Portfolio
A non-protected portfolio transaction or a fully disclosed portfolio transaction. Normally a transaction of a number of stocks dealt with by one market maker at an agreed discount to the market price.

'NM' Not to Mark
A transaction where the Exchange has granted permission for non-publication.

'NR' Non Risk (SEATS Based Segments only)
A non-risk transaction.

'P' Protected Portfolio
A protected portfolio transaction or, if reporting a trade resulting from a worked principal agreement for a portfolio transaction. Like a non-protected portfolio, but the price dealt at can be amended if the market maker manages to make a 'good' profit.

'R' Riskless Principal transaction at different Price
A riskless principal transaction with two non members, where the two transactions are executed at different prices or on different terms (this requires two separate trade reports). This happens often on a trade where commission is not charged. Instead of paying commission, the client will pay extra for their shares.

'RO' Result of Option
A transaction which resulted from the exercise of an option.

'RT' Risk Trade (SEATS Based Segments only)
A risk transaction.

'ST' SEAQ Trade
This is used for the single uncrossing trade, detailing the total executed volume and uncrossing price as a result of a SEAQ auction.

'SW' Stock Swap
Transactions comprised in a stock swap or stock switch (one report is required for each line of stock swapped or switched).

'UT ' Uncrossing Trade
This is used for the single uncrossing trade, detailing the total executed volume and uncrossing price as a result of a SETS auction.

'X' Cross at the Same Price
A transaction was effected as an agency cross or a riskless principal transaction at the same price and on the same terms (this requires one trade report).

'AT' An automatic trade generated by the SETS system through the order book.(Level 2)

'PA' A protected transaction at the time that
'PC' Post Contra. Used when reporting a Contra Trade when the contra date is not the trade date.

'T' If reporting a single protected transaction. A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock. With a protected transaction, the dealer will put the trade through in small quantities rather than knock the whole order out in one hit. The entire transaction is reported once the deal is completed. The LSE is notified at the start and at the end of the transaction. However, the market as a whole isn't told until the end, thus the order is protected.

'WN' Worked Principal Notification.
If notifying the Exchange that a member firm has entered into a worked principal agreement for a single security.

'TS' Test Security. If using a test security to test trade reporting.

'WT' Worked Principal Trade. If reporting the trade resulting from a worked principal agreement for a single security.

'CT' Contra Trade. Used to publish a contra trade in a previously automatically executed trade through the order book.

'AI' Automated Input facility. If reporting that a member firm has disabled its automated input facility in response to a request from the Exchange.

'PN' Worked Principal Portfolio Notification. If reporting that a Member firm has agreed to take on a worked principal agreement for a portfolio transaction.

'VW' Volume Weighted Average Price
A transaction that was effected at a price based on a volume weighted average price over a given period.

'RC ' Regulatory Conformance
This is a test segment for which no trade reports will be disseminated.
Posted at 23/1/2002 09:33 by 3maveen
Recent article that appeared on Citywire yesterday

Gunn shoots over Miller Fisher line
Get ready for a stock exchange announcement later this week that venture capitalist and shrewd investor John Gunn has taken his holding in insurance services outsourcing company Miller Fisher over the disclosable 3% mark.

Gunn has gone crazy for Miller Fisher (MFG) since it managed to write off £13.25 million of debt by issuing equity to the lender, the Bank of Scotland.

The deal, announced at the beginning of December, removes a massive weight from round Fisher’s neck and eases fears the liquidators will move in.

Gunn told Citywire today: ‘It has halved its debt and should produce EBITDA [earnings before interest, tax, depreciation and amortisation] of £5 million in 2002 … earnings of 1.5p per share.’

At 3.75p today, up 0.5p, Gunn said: ‘It could do a lot more than all right.’

The company’s business has failed to live up to its promise in the past but on the proviso that the group can keep its head above water, it does not have to do very much to justify a share price greater than today’s.

However, with tough trading conditions and an operating loss waiting to be reported for the year just gone, £6 million Miller Fisher is still a very risky penny share play.
Miller Fisher share price data is direct from the London Stock Exchange

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