Mxc Capital Share Discussion Threads

[muffster] 07/8/2018 21:38

Read article in times recently by vince cable that share buy backs should be illegal as they are fraud, inflating directors pay and not using funds to expand company.

[chimers] 07/8/2018 15:37

Exactly :)

[jayfella72] 07/8/2018 15:24

Ah right. Well spotted. If not them then someone's extremely confident with that size trade.

[chimers] 07/8/2018 15:07

The majority of the proceeds are intended to be used in order to fund an Employee Benefit Trust (the "EBT") which MXC is in the process of establishing. The purpose of the EBT will be to buy MXC shares in the market to be held to satisfy existing and future share incentivisation awards for the benefit of employees and certain directors. The remainder of the proceeds will be used in line with MXC's stated strategy of investing in technology companies.

A further announcement will be made upon Completion, which is expected to occur in the near future.

[chimers] 07/8/2018 15:05

Might not be, don't they have to announce the go ahead first?

[jayfella72] 07/8/2018 14:12

I'm guessing that 7m buy @1.25 and the others from earlier looks to be the start of the share buyback. Nice to see a tick up on the SP!

[suneday] 06/8/2018 14:04

What a kind man he is. Salt of the earth, Old Nige. Perhaps he'll help out with Ide and AD4.

[suneday] 06/8/2018 10:59

Appears Mxc bought WRAY's shares in TAX ( he went from 6.76% down through notifiable on Friday ) whilst WRAY bought theirs ( not all they sold ) in CTP.

[chimers] 06/8/2018 10:29

Over the past couple of months, MXC, the technology focused advisor and investor, has sold down its 25% stake in Castleton Technology, now holding 6.7% of this social housing software company. The proceeds from the sale (bringing with it a handy profit) will be used to continue MXC’s strategy of investing in technology companies. The majority of this money has already been invested in Tax Systems plc, with MXC now holding 25.6%.

We have been impressed with the progress of Tax Systems since its April 2016 listing on AIM and the purchase of Little British Battler OSMO (see Tax Systems Plc striding out) and last month we were able to get a meeting with CEO, Gavin Lyons.

logoThe business already has a strong position in the computation of UK Corporation Tax, with over 1000 customers licencing Tax Systems’ software, along with c.200 Accountancy firms. The purchase of OSMO speeded up the retrieval of data from across the customer’s enterprise, opening the door to new opportunities. The first target is to support customers as they compute their VAT liability. This is a complex, time consuming and expensive issue, and one where the government is demanding significant changes in its Making Tax Digital for VAT regime. New systems and better records will be necessary and a digital connection to a company’s underlying records will be required from April 2020. With Tax Systems estimating that 1.6m companies will need to invest in new software, you can understand their enthusiasm for this market opportunity.

The company also sees the potential in providing software to support the compilation of statutory accounts, further expanding the addressable market within Tax System’s existing customer base. MXC’s confidence in the potential of Tax Systems looks well founded.

[chimers] 06/8/2018 07:57

More cash in the kitty this is going to be BIG!!

Obvs a big deal on its way.

WTS.

[suneday] 05/8/2018 11:40

For the time being it really seems a question of how many shares are dripped onto the market by probably historic disenchanted investors, as against the few more recent investors who perceive a brighter future from new initiatives and are content to pick them up at about this price.
It is welł-nigh impossible to realistically identify other than positive future newsflow from MXCP ( and in the meantime fees are incoming ) with the buyback ( shares held in treasury ) covering employee future awards as well as having a prospectively beneficial effect on the share price.

[jayfella72] 03/8/2018 15:26

Few chunky buys today. Shame it won't move the SP!

[suneday] 31/7/2018 14:09

TechmarketView
.........The additional £5.5m of funding will be used to address short term cash pressures and appease other creditors, whilst simultaneously “right-sizing” the business to reverse its recent misfortunes and haul itself back into the black (see IDE/Coretx continues to drag at MXC).

Divestitures of certain business lines and assets look very much on the cards as part of that strategic and operational review. IDE’s ambition was never in doubt after the acquisitions of 365ITand Deverill Goup Limited and its expansion into enterprise cyber security provision, but it looks like MXC and Smith are about to inject a heavy dose of realism.

[suneday] 31/7/2018 10:28

Having looked at it and finishing up with between 29 and 45%, MXCP must see greater value pro rata in Ide underlying assets ( including marketable value of contracted revenue as they said in 30th. May RNS ) than their additional investment, with plans for disposal going ahead. Whatever happens, they're not propping Ide up for nothing.

[patientcapital] 31/7/2018 09:19

It’s only money. Plenty more where that came from unless Liberty has already done a runner! Who’d blame them if they have?

[dplewis1] 31/7/2018 07:29

Setting fire to 2.5 million quid. Sounds fun.

[jayfella72] 31/7/2018 07:25

RNS... https://m.londonstockexchange.com/exchange/mobile/news/detail/13736887.htmlIDE rescue package.

[suneday] 30/7/2018 22:01

Regardless of other matters, we are now waiting for FCA approval which on 19th. July was expected ' shortly '. We do not know when that was sought, but if all is straightforward ( I should think so, Ravenscroft is well established ) it looks to take a maximum of 60 days.There will then be completion, which on 19th. July was to be 'in the near future,' whereupon there will be an announcement. Mxc will contemporaneously with completion be free to start purchasing their own shares for the EBT in the open market, using the 'majority' of Ravenscroft's £2.25m ( though there is no reason why they could not do so from existing funds in anticipation )
Of course I do not know, but it would seem to me that that is likely to be the next move here. Indications seem that if this does drop back at all before then, it won't be by much.