Msb Share Discussion Threads

[farsight] 10/4/2006 17:37

Are we using this thread now? Seeing as it's got a chart and all?

Actually I find it does me no good if I keep close tabs on a share and watch the chart. Not this sort of share anyway.

[farsight] 10/4/2006 17:36

Hi cornelious.

MSB up a smidge, good stuff.

[cornelious billy bee] 07/4/2006 14:34

Hi FS not much volume at all, ah was a good ride.

[cornelious billy bee] 07/4/2006 14:33

good skills Sremis sounds much better than end of the road for MSB

[stemis] 06/4/2006 17:44

I have set up a new thread - MSB "its days are numbered"!

[stemis] 06/4/2006 17:41

31 March 2006 - Times reports WHISPERS in the recruitment sector suggest that long-suffering shareholders in MSB International are about to be put out of their misery. The Bromley-based agency is due to put out full-year figures on Tuesday, which are expected to show it barely broke even on turnover of about £100 million. But what set tongues wagging yesterday was the prospect of bid activity, with acquisitive Quantica - which is forecast to make pre-tax profits of £6 million on revenues of £62 million this year - tipped as the suitor. Dealers hear that institutional owners of MSB, many of whom also hold Quantica, have grown restive and have put pressure on the board to merge. For its part, MSB would give Quantica greater exposure to the IT sector and enable it to strip out a layer of central overheads, not least those relating to its full quotation on the Official List - which many observers consider the wrong home for a company valued at just £8 million. MSB held steady at 39p, Quantica at 69½p.

31 March 2006 - Company states "The Board of MSB notes the recent speculation in the financial press and confirms that it has received a preliminary approach which may or may not lead to a formal offer being made for the Company. The Board, which is being advised by Collins Stewart Limited, wishes to stress that discussions are at an early stage and there can be no certainty that this approach will lead to an offer for the Company.

Company is controlled by 3 major shareholders

Third Advance Value - 20.6%
Peter Flaherty (former CEO) - 14.0%
Peter Browne (former Sales Director) - 10.9%

Third Advance Value Realisation Company Limited was set up in December 2005 to provide a means for institutions to obtain liquidity in small under performing company stocks by exchanging them for shares in TAVR which can then more actively manage and extract value from the stocks.



Third Advance Value acquired their MSB shares in December 2005 from Eaglet when the share price was 44/45p. Third Advance Realisation Trust also own 4.5% of Quantica (plus shares in Harvey Nash, Whitbread Mann and Lorien) and clearly see this sector as one for consolidation.

MSB announced its results on 4 April 2006. Key financial statistics are

Sales - £95,660,000
EBIT - £373,000
Loss after tax - £565,000 (after £871,000 of exceptional restructuring costs)
Net current assets - £11,024,000 (54p)
Net 'tangible' assets - £11,281,000 (55p)

On 30 January 2006 MSB announced that its restructuring was expected to result in annualised savings of not less than £750,000. Head office savings should bring at least £1 - 2M (main board directors received about £0.9M alone). Any acquiror would therefore benefit from an EBIT of £2-3M BEFORE any synergistic/operational benefits.

MSB has 20,501,979 shares. Its market capitalisation at

50p is £10,251,000
60p is £12,301,000
70p is £14,351,000
80p is £16,402,000

MSB cannot surely survive as an independent company, the question is just how much it will go for!

UPDATE - [4TH AUGUST 2006] - Recommended offer of 65p by Peter Flaherty (ex CEO)

FURTHER UPDATE - [12 SEPTEMBER 2006] - Counterbid from Networkers International Ltd for 73p

[farsight] 06/4/2006 17:33

Ooo, about three months.

I reckon 2006 will be like 2003. Have a look at the chart above.

[ct98] 06/4/2006 14:51

How long did that take?

[farsight] 06/4/2006 13:38

What's cooking guys? I can't see much volume. This is one that'll take a bit of patience. Like HVN I reckon, where me and cornelious chit chatted for a long time on the ride up from 39p to 70p.

[new winning year] 05/4/2006 14:52

your not getting away....Ever.

[new winning year] 05/4/2006 14:51

I already have.

[farsight] 05/4/2006 14:49

Please filter my stalker nutter, guys.

new winning year - 5 Apr'06 - 14:33 - 192 of 193 (Filtered)

new winning year - 5 Apr'06 - 14:34 - 193 of 193 (Filtered)

[new winning year] 05/4/2006 14:34

the loony moony who talks to Aliens and newts...

[new winning year] 05/4/2006 14:33

drowning in debts...Lo l!!!

[farsight] 05/4/2006 14:27

I'm not keen on WHT cornelious. See email. But good luck with it anyhow.

[farsight] 05/4/2006 13:52

Naw. I originally bought a few at 35p. But that was months back and I got bored and sold them for 37p. I put the money into HVN at 49p I think. Then I bought back into MSB the other day at 46p. I've only got 16,000 so no great shakes. I'll maybe buy some more because this looks like a goer.

[cornelious billy bee] 05/4/2006 13:13

yes fs, thanks for that re MSB you have done well, am inestigating the other thing as we speak, am into 25k of WHT for a st recovery, did you get MSB for 42p?

[farsight] 05/4/2006 10:41

Cornelious, did you read my email then?

[farsight] 05/4/2006 10:41

Cornelious, did you read my email then?

[snappy] 05/4/2006 10:34

always the possibility to sub-let the excess space at Bromley too, which has aready been accounted for in the exceptional charges!

Current trading update was positive too.

let's not have a takeover at 50p a share

very surprised they lifted the dividend, mgmt must have confidence in being able to maintain the payouts.

:-)

[farsight] 05/4/2006 10:31

Happy snappy.