Ms Share Discussion Threads

[cockerhoop] 08/1/2014 13:10

FD has bought a few shares for himself and also for his daughter.

[michaelmouse] 05/1/2014 20:19

hxxp://michae1mouse.blogspot.co.uk/2014/01/the-low-pe-small-cap-high-yielders-vs.html

Michael.

[spob] 24/11/2013 16:53

176.5p 33.9m

[cockerhoop] 19/11/2013 15:24

The advantages of an Aim listing - the company has been forced into knocking up a Plc website.

www.msiplc.com

Where you can see the Annual Report for 2013 (an archive is though obviously too much to ask for!!!)

[xdavid] 02/10/2013 11:02

From the RNS...

"Shore Capital is acting as financial adviser to the Company in connection with the Cancellation and will act as nominated adviser and broker on AIM Admission becoming effective."

Does this mean there might be some broker coverage/forecasts after admission to AIM?

[metier9] 02/10/2013 10:02

I am still holding, mainly curious what happens when it moves to AIM.

[wipo1] 02/10/2013 09:59

well done jakedog2. I was thinking of buying but luckilly the big spread put me off.

[jakedog2] 01/10/2013 15:15

Managed to dump mine at a -3% loss.
Got rid in three seperate trades before 08:15.

Luckily read the RNS AT 07:00, so managed to ofload sharpish. Hiding the trading update at the end, sums up the way the company is run.

Will be staying well clear......

GLA

[57andrewjh] 01/10/2013 13:58

If this were a bigger company I suspect someone would be asking rather more searching questions about how long they have realised the profits were at risk. This smells bad. Governance? What governance? It will be interesting to see if there are any directors buying in the next few days. I wonder if this might be taken private and then sold.

Long MSI but modestly.

[davidosh] 01/10/2013 10:50

If they are moving to AIM then I am sure it is because the directors want the IHT benefits. This company always feels like a private company with a listing and the number of communications to the market is going to reduce even further. They really need to sort out their website to be more shareholder friendly as annual reports are not even available for download.



A Plc should be far more shareholder friendly IMO

[metier9] 01/10/2013 10:26

MSI is my smallest holding but I am uncertain whether to sell or hold. The recent RNS has really knocked the wind out of these shares. The whole thing feels like an inheritance tax arrangement.

[alter ego] 01/10/2013 10:21

Totally agree David, sold out today. Once too often taking liberties at expense of shareholders whilst over rewarding themselves.

[davidosh] 01/10/2013 09:48

Somerset lad.....Totally agreed. I was wondering whether there was a buying opportunity down to the bizarre fall in price due to the move to Aim then spotted the hidden trading update. Very bad form and corporate governance is an issue here for me sadly.

[somerset lad] 01/10/2013 09:29

On my watch list, but not impressed to see a profits warning at the end of a fairly lengthy RNS on a different topic.

[metier9] 18/9/2013 04:50

Considering MSI's petrol forecourt business area I wonder if there will be quick charge electric/fuel cell charging forecourts in future. The new electric BMW comes with a charing point installed into your house to quick(?) (6 hour?) charge.

[anumidium] 17/9/2013 20:57

Something of a rally over the last week. Hopefully a sign of things to come.

[darlocst] 11/9/2013 08:59

Other side of the 455k trade I expect

[cockerhoop] 10/9/2013 22:58

Another 367,500 sold at around 180p today.

[cockerhoop] 10/9/2013 12:22

Yes nearly 2.5%, we may get an RNS.

Possibly recently retired David Pyle selling some of his 10% stake?

[pabster] 10/9/2013 09:39

Interesting to see a big volume print at 180 a couple of days ago - hopefully clears out a large seller. 500k shares traded, which for this stock is a big chunk.

[cockerhoop] 23/7/2013 13:02

Further to my last post I notice that between April 2012 and October 2012 most of the Cash and Cash Equivalents was transferred from 'Cash at bank and in hand' to 'Short term deposits' possibly attracting a better rate. Interest received this year has also increased suggesting that may be the case.

[cockerhoop] 23/7/2013 08:25

WCB,

I take your point about the lack of interest on the cash pile, if its free cash then they could surely utilise it better.

Regards levels of cash, it dropped to £4m at the half year in October 2010 after the purchase of the remaining bit of Global-MSI and has built up pretty rapidly since.

I'm rather frustrated that I missed the AGM this year, recent Agms have been in August which coincides with family holidays so this year would have been a good opportunity to attend and ask some questions. In true MSI style though it wasn't publicised in any RNS that i'm aware of and I unfortunately don't automatically get sent the AR as I hold in a nominee account.

Anyway it's good to get a little debate on the company via this board.

[westcountryboy] 22/7/2013 21:28

The cash pile is a puzzle to me. It appeared in 2006: before then there was nothing to speak of, but in 2006 it grew to £5.2m and by 2008 was at £10m where it has stayed more or less since, until this year when it rose to £13.5m. Yet only in 2007-9 has net interest actually been earned on that sum: in the last four years there has been a very small interest bill. I suspect this has something to do with the line about progress payments in the cash flow statement. If they really have £13.5m free then they should, as Danger says, give some of it back to us!

[dangersimpson2] 22/7/2013 16:45

WCB,

I agree that MSI will never set the world alight but given the EV/EBITDA & EV/FCF metrics it should be able to deliver 10% pa return without any growth in revenue or earnings (assuming they return their surplus cash to investors over time through either an increased dividend or capital return.) I'd be happy with this given the possibility of a re-rating at some point although I was slightly disappointed with the dividend only being held given the growing cash pile.

Overall I think MSI is a solid part of a defensive portfolio but wouldn't overweight it despite the great metrics due to the concerns you raise.

Cheers,

Danger

[pabster] 22/7/2013 16:16

Jakedog2, agree with your point. A stock like this should be part of a balanced portfolio. It's never had a high multiple, but has traded in a p/e range of 7.5 (near where we are now) to 9x, so through multiple expansion alone you will get a satisfactory return and then the added bonus of a divi.

As WCB mentions, we might eventually get some change brought about by younger blood who may look to raise the external profile of the company.