Msb Share Discussion Threads

[rainmaker] 07/8/2006 12:52

What about Lorien as the next Recruitment Agency??Very cheap at the moment but as I remember, higly geared

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[rainmaker] 07/8/2006 12:50

Snappy-I understand they need 75% overall of those voting(including those by proxy)

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[farsight] 07/8/2006 10:38

"MSB was the cheapest one of the pack farsight with little or no debt and valued at around Net Asset Value..."

I know, snappy. I first bought MSB when it was about 35p. Back in April I thought it might go for 70p, so 65p ain't bad:

[stemis] 05/8/2006 21:04

I'm afraid I wouldn't trust the management of MSB with my money anymore, so unless a rival bid comes in this is the best we have on offer and I'm taking it. Relying on MSB management to turn this around is not an option for me.

[farsight] 05/8/2006 18:01

Yeah but I sold out of PTY at 11p and bought MSB at 35p. I also had HVN from 39p to 63p. Sure I ain't perfect, but I'm can still give and take opinion and advice because that's why we're all here.

[jamesrand] 05/8/2006 17:52

but you also bought Parity when it was around 13p didnt you farsight. so i dont think you have any qualifications in being able to diss others.

[stemis] 05/8/2006 14:53

I agree its not a great price but I'm surprised there are no trader buyers interested who could reap the benefits of rationalising head office costs. In the absence of a bid from one of them, as ct98 says, its a done deal.

[ct98] 05/8/2006 09:35

Fait accompli I'm afraid. Great price though. For the purchaser of course.

Watch the market-cap when this comes back, in say a couple of years. It'll be 6 - 12 times sale price.

[snappy] 05/8/2006 09:29

I've sent an email of intent to vote against to our 'trusted' executive board. I've also told my the broker that holds my stock in a nominee to pull it out and into my name at their earliest convenience.

We've had no trading update or any real indication of how the company has performed the last 6 months to 31 July 2006.

This whole offer stinks.

I'm voting my 150,000 shares against as I am holding for much better times ahead for IT recruitment. Yes it is an overcrowded agency market place but this business is well positioned to take advantage of it.

I don't mind taking a loss on any investment if I take the view that I paid too much and the business will never shine again but I feel this offer is a well timed and well executed theft.

Not looking for a home for my £97,500 october payout just yet.

Any other opinions out there?

[farsight] 04/8/2006 16:22

Well done chaps. Shame I sold way back but there you go.

[sharw] 04/8/2006 15:31

I don't think it is likely. These announcements are carefully worded. The original (31/3) spoke of an approach in the singular as does the 'background' section of today's. TAR also has a stake in QTA and they would have engineered it by now if there was a chance - as it is they have agreed to this deal.

I can't help but suspect the announcement may have been delayed until today so that they can say the offer is higher than the price has been for 12 months. It is just 12 months and a couple of days ago that the price slid down through 65. Anyone who bought in the 12 months prior to that will be sitting on a loss.

[rainmaker] 04/8/2006 12:59

Are Quantica going to counter bid?

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[rainmaker] 04/8/2006 12:55

See Post on 6 July Number 52 "convinced there will be a bid very soon.....etc"

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[rainmaker] 04/8/2006 12:53

Well Guys don't say I didn't warn you-Bid is on the low side but looks to be a done deal-see previous message

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[stemis] 04/8/2006 07:48

65p it is!

Looks in the bag

Bidder is ex CEO, Peter Flaherty, who already owns 14.7 per cent. Since Third Advance Value Realisation Company Limited, Hargreave Hale, Henderson Global Investors and the MSB Employee Benefit Trust (together 36.7 per cent) intend to vote in favour, it seems like a done deal.

Overall not a great price, but brings an rather more satisfactory end to my holding than seemed likely six months ago.

As ever the MSB management manage to come out of it 'okay'

The executive directors, Andrew Zielinski and Ian Ketchin, have agreed to abstain from voting on the resolutions at the Court Meeting and the EGM due to their personal interests in the outcome thereof by reason of an entitlement to receive bonuses of £100,000 and £50,000 respectively in the event of a third party acquiring more than 50 per cent. of the issued share capital of MSB.

[stemis] 02/8/2006 16:37

At 65p Flaherty could probably fund most of it from debt.

The 86% he doesn't own would cost about £11.5M.

At the last year end MSB had trade debtors of £13.4M and cash of £0.7M. Pretty much enough to secure borrowing of £11.5M

[cornelious billy bee] 02/8/2006 15:18

Rumours that MSB International (LSE: MSB.L - news) is set to recommend a 65p-a-share offer from former chief executive Peter Flaherty.

[rainmaker] 27/7/2006 12:48

Jemtang-As I've said before the longer Quantica & Co leave it, due to cost savings and improving markets,the more they will have to eventually pay so I'm expecting an announcement in the very near future at around 85/90p

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[rainmaker] 27/7/2006 12:45

Snappy-If MSB had bought it's own shares for cancellation there would have been a RNS

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[jemtang] 25/7/2006 09:30

Something is up...looking good for MSB .....good luck holders...

[snappy] 07/7/2006 21:16

could the big buyer be MSB, afterall they have shareholder approval to buy back 2,000,000 shares at not more than 5% above the average mid market closing shareprice in the preceeding 10 days.

Would an approach that may or may not lead to an offer stop the company repurchasing shares? I don't think so. I think they should have been repurchasing shares before now if it is indeed the company buying back cheap stock.

Who's selling, could it be TAVR, Flahery, Brown or one of the other 3%+ holders?

I expect to see an 80p+ shareprice heading into Jan 07. I don't expect a takeover to succeed at less than 85p and even then it is doubtful.

all in my opinion, no advice intended

[rainmaker] 06/7/2006 15:26

Nobody on this site would disagree that the writing is on the wall for MSB.Big trading volume yesterday and there is a large Buyer around- I believe they bought approx 3%. Convinced there will be a bid very soon-not just increased volume but the share price's behaviour-see previous Post. The longer a Bidder leaves it, the more they will have to pay since there is large scope for share price recovery through improving markets and recent cost cutting measures


regards