Mxc Capital Share Discussion Threads

[suneday] 29/7/2018 09:49

Thankyou for that. On reflection, I wonder whether that may have fit into the Liberty plans for business customers. May yet do, I suppose.

[jayfella72] 29/7/2018 00:22

Nice find....

[chimers] 28/7/2018 23:13

MXCP own just over 18% of Tax or 15,200,718 shares.

[chimers] 28/7/2018 22:56

MIDAS SHARE TIPS: Tax is no burden for software firm Tax Systems that helps large firms submit data to the Revenue
By JOANNE HART FOR THE MAIL ON SUNDAY

The UK budget deficit – the difference between how much the Government spends and how much it receives in taxes – is expected to be more than £30billion for this financial year. The figure has been falling, but it is still too high for the Government's liking.

Of course, Chancellor Philip Hammond does not want to increase taxes, but he is keen to collect more of them. One popular way of doing this is by making sure big companies pay the tax they owe.

Tax Systems provides software to help large firms navigate the Government's increasingly complex demands. The shares are at 85½p and should rise as chief executive Gavin Lyons is driven, able and determined to expand the firm.

Lyons ran cyber-security group Accumuli, which was recommended by Midas in 2013 at 12½p and taken over two years later at 33p.

In 2016, he turned his attention to Tax Systems, then owned by a couple in their 70s, who had put the business up for sale. Backed by supportive investors, Lyons bought the firm and listed it on Aim.

The company was already highly attractive, with about a thousand customers, including more than 100 firms in the FTSE 250 index and all but one of the UK's top 20 accountancy groups. But turnover had been static for three years and Lyons was keen to grow.

The environment is conducive. In recent years legislation has been introduced to force companies to produce tax filings that are more detailed than ever before. And in April, the Government's 'Making Tax Digital' policy comes on-stream, requiring firms to file VAT returns online in the first instance.


Tax Systems helps customers collect the relevant data, ensure they comply with regulations and manage the taxation process so they pay the right amounts at the right time in the right way.

Lyons has also introduced new incentives for Tax Systems' sales people and strengthened top management, with the appointment of several directors who have worked successfully with him in the past.

Early results of Lyons' strategy are encouraging. The company said in a trading statement last week, that it expected sales for the first half of 2018 to be 14 per cent ahead of the same period last year and directors were confident about earnings for the full year.

Analysts expect 2018 profits of at least £5.8million, an 18 per cent rise on the year before. There is no dividend, as the firm took on about £30million of debt to pay the former owners for the business. But that has come down to £17.5million and should continue to fall over two to three years, at which point the company may start to pay dividends.

Midas verdict: As anyone paying tax on account this week will testify, the Revenue is increasingly demanding. Tax Systems alleviates the burden and works with some of the UK's biggest firms and accountants, many of whom have been customers for years. Lyons is a seasoned operator with a history of delivering results. At 85½p, the shares are a buy.

[chimers] 28/7/2018 22:54

And yes...........the article exists kinda more or less because of ..........ME.

Better to follow hopefully.
Geordi Greg owes me!!

[muffster] 27/7/2018 23:39

Thanks DP. Chart looks more alive.
I've added some more, hoping we get traction. Chimera don't post your timing is worse than mine.

[muffster] 27/7/2018 06:54

So be honest who's buying here? Share price just falls

[suneday] 26/7/2018 08:42

Not quite a Ferrari, but doing alright for some of us there.Been a star for MXCP, and looking set to continue. Get an even better return on next sale, if they choose, to put to good use here.
As said earlier, I would prefer MXCP to start to break with public listed investments now to concentrate on Ravenscroft and Liberty Global ( don't have much info on private companies - perhaps someone does? ) That would also send a message.

[cottoner] 25/7/2018 22:48

CTP is still going up, now almost £1.

[chimers] 25/7/2018 15:30

All the other investments here are a side issue.
They are NOTHING compared to the Liberty Global and Ravenscroft deals.

They are the loose change in your jacket pocket that you use for a paper or the shopping trolly thingy.

Liberty Global/Ravenscroft is your Ferrari and Yacht.

Its nice to have the other stuff but it is simply there as a legacy of old and IMO the entire lot will be dumped in a controlled manner asap so they can reinvest the funds in the cash cow.

I recon they will dump them or sell them to corporate buyers as and when they are profitable or as and when they can drip them into the markets like with CTP.


They will know these companies inside out and probably think they could make a lot lot more out of them BUT........along came the Liberty Global deal which changed everything.
Its like when you buy a house and then 3 days later see a better house.


Its a case of get as much cash as we can and lob the lot into the LGMX bucket.

The Liberty Global deal dwarfs everything else.

[chimers] 25/7/2018 13:30

dplewis, those are not sells its a rollover done at the low end (it makes no diff)
When doing a rollover you can do it at the low end or the high end they will ask for your preference.
Thus you can make it look like a sell or a buy.

Jim diGriz remember £2m of MXCP money into IDE are loan notes paying a very healthy interest rate.
They will only convert the loan notes if they become 'in the money' so to speak.

Also, remember TAX Systems announced some healthy solid steady results recently and trade at all time highs.

[suneday] 25/7/2018 10:19

More importantly in my view, following its model, for future plans, MXCP still has getting on for £12m of Castleton equity at its disposal, if as before it secures a buyer or buyers at market price.( And in fairness said as a long term current Castleton investor, I think that's likely, the way things are going there )
Ide and Adept are failures so far, but that's offset, particularly with the possibilities from the newly formed relationships, each of which come with fees in addition to the probability of capital growth ( and a buyer at the end in Liberty Global's case )
There will be announcements here when they are ready - there have to be.

[dplewis1] 25/7/2018 09:49

As far as I can tell the investment into Jobbio was EUR 450k. Couple of fairly lumpy sells just dropped in annoyingly.

[jim digriz] 25/7/2018 08:19

So the good news is that after losing 42.1m x (33.5p-23.5p)= £4.21m on IDE shares from 31 August to 28 Feb and another 42.1m x (23.5-6.25p) + 1.8m x (13p-6.25p) = £7.38m or about 0.21p per MXC share since 28 Feb, the same can’t happen again.

Our remaining holding in IDE is about £2.75m or about 0.08p per share, so that is at least one drag on share price performance out the way.

The stupidest thing I did recently was decide that buying some IDE looked a better bet than topping up MXCP. Oops. Still, like I say, we can’t lose the same again on IDE so hopefully it will be positive news from here. Am still holding some IDE as well as MXCP hoping that MXCP can totally demonstrate their investment banking credentials here and help sort them out, ideally making some of the loss back.

Does anyone know how much of Jobbio we hold, it looks like it’s doing pretty well.

IMHO DYOR BYOB

Jim

[suneday] 24/7/2018 11:14

I think it's more likely someone else (with other than Ravenscroft money )unless Mxcp are buying from their existing cash prior to completion which they have said they will announce when done. There has been no RNS about that, nor of an own buy back.

[chimers] 23/7/2018 21:44

I think IDE will be broken up and sold and perhaps one part of it kept for liberty as an add-on.
The large buys might be the start of the Ravenscroft money being spent?
This mob should bite the bullet and sell/dump AD4 and IDE as both are dragging this backwards.
Without them MXCP would fly!!

[jayfella72] 23/7/2018 20:26

Takeover target for Liberty?

[dplewis1] 23/7/2018 18:00

Ay up! Interesting..could do with a bit of action here it's done nothing since I bought last month!

[jayfella72] 23/7/2018 17:58

Someone's confident. £182k!

[jayfella72] 23/7/2018 17:53

Massive buys around midday. 14.5m shares.