Millwall Share Discussion Threads

[mylands] 02/12/2011 08:45

From yesterday's statement:

'In order to enable the continued trading of Shares following Cancellation, the Company has appointed JP Jenkins to provide a matched bargain trading facility. Details of this service will shortly be available on the Company's website.'

[michaelsadvfn] 23/11/2011 09:37

supercity - 21 Nov'11 - 18:38 - 2026 of 2028

oh dear smelgy

the company has nearly 1.4m shares in issue of which 70% are owned indirectly by the one who is proposing to delist from aim...how exactly does that make anyone anywhere able to bid for the company???

Smelgy is a bit fik.

[isis] 23/11/2011 09:29

They only need another 20% to make it compulsory.

Their is always an ulterior motive to delist.

[smelgy] 23/11/2011 09:28

..............supercity - I strongly disagree.

Don't be under the assumption that JB will just be able to walk away with it.
There are some determined holders of this stock who will see to that.

[supercity] 21/11/2011 18:38

oh dear smelgy

the company has nearly 1.4m shares in issue of which 70% are owned indirectly by the one who is proposing to delist from aim...how exactly does that make anyone anywhere able to bid for the company???

sad to say any money tied up mwh by yourself has to either be written off or sold at these levels.

[chinese investor] 21/11/2011 16:42

We at UBS have an understanding with the MMs.

[boffster] 21/11/2011 10:29

My God. Internet bbs sure do breed some scumbags

[smelgy] 18/11/2011 20:13

..............does nobody understand the scenario here?

The whole of the stock in the public domain is available for around £550,000. Do you not think there is someone out there interested?

To buy the publicly traded stake in MWH for that price puts a spanner in the works. Someone is accumulating to thwart not only the delisting but the chairman's intended greed at taking the whole club for a bargain price.

There will be some fireworks at the AGM thats for sure, and I've always said that at these stupid levels there will be a bid.

Watch this space.

[chinese investor] 18/11/2011 17:19

We at UBS have been given instructions.
I can't say anymore.

[jfishy55] 18/11/2011 17:01

Oh, and the spread moved from 10p to 50p which will have added 20p to the mid price.

[jfishy55] 18/11/2011 16:59

Yesterday 100 shares changed hands in 2 trades.
Today 3667 shares changed hands in 7 trades.

I think the only reason the price moved up is because they is a background buy ordered designed to mop up any sellers. Certainly bizarre. Perhaps there is so little trading in MWH that the smallest order drives the price?

[georgio44] 18/11/2011 16:50

Something going on... maybe due to the TV money coming from SKY on Sunday ha ha !
C'mon you LIONS !!!!!!!!!!!!
(Prem here we come)

[4screws] 18/11/2011 15:47

why would this go up, if its going to de list

[isis] 16/11/2011 07:10

TTNM are doing it now and they make a profit with a £100m mkt cap.

A disgrace - fans should boycott them.

[isis] 10/11/2011 14:06

Final Death throws before delisting.

No wonder everyone hates them!

[supercity] 08/11/2011 17:16

i amassuming smelgy is not totally stupid and naive and is actually just winding people up.

Give him a break if he is...no one can seriously believe with 77% of the company owned by one group that this back door takeover was never going to happen at a very low price.

[jfishy55] 08/11/2011 14:33

Andy,

I took the figures from ADVFNs figures which claim there are 380,000 shares in issue.

Assets I presume come from the last financial statement from MWH - of course the team may be worth a lot more (what if you had to sell all the players at once though?). The land could be worth a lot more *if developed* - which will take money.

If I wanted to buy a football team perhaps you would be right - but as a business I see little point.

The bottom line is, this company has continuously sought to raise funds in the market but failed to deliver profits with the additional capital. This suggests that the management cannot deliver.

Personally, I think there are many many other companies that show far better prospects than MWH. Once the company de-lists it will be very difficult to trade the shares or determine their true worth.

Whatever you choose, I wish you the best of luck.

[georgio44] 08/11/2011 11:09

There's always the possibility of getting in the Prem... then it's a different ball game so to speak !
Only lost 0.5m last year (3.5m loss the previous year) so a great financial improvement.

[andytgt] 08/11/2011 10:47

It does not make a huge difference but I think the MCap may be higher, around £2m because there are almost a million (909,956) shares in issue if you read the results:

"The calculation of loss per ordinary share is based on the loss for the year of GBP1,958,000 (2010: GBP4,958,000) and on 909,956 (2010: 375,205) new ordinary shares, being the weighted average number of ordinary shares in issue "

I might missed something though, but I think that is right, there could be more than that if you include warrants.


Assets are much more than £3m in reality, they have a squad of 20+ alone and you get a damn sight more than £150k for a Championship player even a really bad one. Also the land and stadium? If you think you could put together a Chamionship club with all the above for less than £20m you are not being realistic.

I guess there is the debt though, so maybe it is now valued at true price and was just 10x overvalued last year?

[jfishy55] 08/11/2011 09:54

Smelgy,

You have to look at the facts. Yes the market cap is £700k BUT:
- Net Debt is £16.42m
- Assets are 3.29m
- Working capital is (£8.03m)
- Profits are (£200m)

I.e. The company has no money to redevelop land or the club in any way unless it issues more shares or takes on more debt. It is loosing cash hand over fist so cannot afford to pay down the existing debt. It has no working capital so can barely continue on an ongoing basis.

MWH is bust. Leaving AIM is quite possibly the only option.
If there is any conspiracy by members of the board it is to eke out yet another pay cheque before the company flounders.

On the subject of a rich person buying themselves a club:

Yes they could, for example that person could buy all the shares in the club for let's say £1m. But because they would be taking on the debt, they would actually be paying about £17.5m. Better to let the club go bust & bid for its assets in auction.

[smelgy] 07/11/2011 23:48

.......good luck to you too Georgio.

This is becoming a rather strange story, but I have a gut feeling of someone in the background. Let's face it, a market cap of £700,000 for Millwall is plainly stupid, especially when you understand that Berylson and his board want to take control.

Even the team is worth far in excess of this. I maintain that either a bidder will come in, or people will see that at this level it is a giveaway.

I shall be attending the EGM and having my say. Hopefully you will too, but good luck either way.

[georgio44] 07/11/2011 23:42

Smelgy - I've been to 77 old League Grounds with the Millwall 1st Team (mainly in the 80's-90's) and still go now.. so firstly I am a true LION.

When i started trading in March 2010 I invested here prior to consolidation and lost 50% even though i bought my shares prior to us even making the play-offs (which we subsequently won) and sold them after gaining promotion.
I need to make a profit on my trading as it's my pension but also need to enjoy doing it as well, so feel this share is now best being de-listed as proposed.
I've made £5k in the last week with TOM (great, especially as i'm all-in there) but in the recent market chaos have lost £20k in the 6 months up to last week.
Sometimes you have to bottom drawer the odd company and/or just walk away to sniff out the next AIM high flyer (which TOM is/will be).
Good luck !