Share Name Share Symbol Market Type Share ISIN Share Description
Msb International LSE:MSB London Ordinary Share GB0005588669 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 25.75p 0 06:30:08
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services - - - - 0.00

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Date Time Title Posts
08/7/201608:44MSB - its days are numbered101
10/4/200616:46My Staffing Business205
11/10/200515:57End of the road for MSB?2
07/9/200509:54MSB =- >>>>>> get these boys quick, 70p shud see Ј1 pdq178
21/6/200412:06MSB - too early is better than too late6

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rainmaker: 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
stemis: I'm sure you have no more information on what is happening than any of us. However what is interesting is that since the report in the Times on 30th June, there has been no announcement from the company and the share price has jumped by 5%. Not really consistent with a single bidder having walked away. Although the announcement of 31 March talked about an approach, that doesn't rule out other parties, seeing MSB in play, having approached the company. Quantica may (although may not) have walked away, but that could be because they have been outbid by someone else. Any number of possibilities exist.
stemis: 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
jemtang: Yes, u r right SteMis, MSB moves very fast when it gets going...if quantica can turn it round...fantastic.....MSB just been very poorly managed..heres to 60p+ soon...good luck holders...about time our share price increased...the dividends have been nice...but we do want a higher share price...
jemtang: Times article today suggest that Quantica may buy MSB...could be good for the share price. Time for some serious buying!!
snappy: It would be nice to see a director put their hand in their pocket and buy a couple of shares. Perhaps we might see a token £3600 purchase from the FD or CEO? A share buy back (for cancellation) now the share price is so low also wouldn't go a miss (the board have shareholder authorisation to buy back upto 10% in the market). Probably won't see that either though.
snappy: Collins Stewart forecast included now. Trading on 11 times this years forecast earnings and 8 times 2006, which is just 15 months away now. Collins Stewart reckon a cut in the dividend this year back to 2.1p, let's wait and see. I'm hanging on for better times and a higher share price :-) 2006 Estimates 2007 Estimates Date Rec Pretax Eps Dps Pretax Eps Dps £m p p £m p p Collins Stewart 17-Oct-05 1.10 - 3.80 - 2.10 - 1.50 5.00 - 2.30 - Baird 31-Oct-05 NEUT 1.10 - 3.60 - 2.50 1.60 + 5.30 + 2.50 - Consensus 1.10 3.70 2.31 1.55 5.16 2.40 1M change -0.10 -0.30 -0.19 +0.05 +0.46 -0.25 3M change -0.13 -0.64 -0.19 +0.05 -0.31 -0.21 Period Consensus (Base eps 3.56p) 06 07 eps p 3.70 5.16 3M Change p -0.64 -0.31 brokers n 2 2 std dev n 0.10 0.15 growth n 3.82 39.5 prosp p/e % 11.2 8.05
stemis: MSB share price at 43.5p is now a discount to its net current assets (56.5p per share). As far as I am aware they are still forecasting a profit. With £90+ million of turnover you would have thought they presented a very attractive acquisition target.
stemis: Seems a very large drop for no news. MSB share price at 43.5p is now a discount to its net current assets (56.5p per share). As far as I am aware they are still forecasting a profit. With £90+ million of turnover you would have thought they presented a very attractive acquisition target.
snappy: Unicorns large line of stock has changed hands and is out of the way, the trading update was much appreciated and the share price is beginning it's overdue climb towards £1.00. Prospects for the group look good. Turnover and profitability are forecast to increase and the boardroom looks the most settled that it has for the last 5 years.
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