Myanmar Investments Share Discussion Threads

[htrocka] 26/6/2006 20:35

`....of Sage Financial Services Limited for an aggregate consideration
of approximately #10.6 million of which #3.4 million is payable over the 12
months following completion, dependent upon certain performance milestones.`


just a couple of points...£3.4m over 12 months..who services this payment if Millfield are no more....and what happens if the performance milestones are not reached?.....and when is the balance of the £10.6m paid?...and what if the FSA refuse to go along with this deal?.... and if they do....will the FSA insist on part of this payment,ie, as shortfall compo?.....to sell the `silver` for £10.6m to pay creditors....this is not administration...it`s liquidation.

[htrocka] 26/6/2006 19:37

can`t quite work out why Easter was so determined to oust Tebbut, take control, then run the company into admin?..(after selling the profitable bits)...would have been better to leave Tebutt in charge..

[kristini] 26/6/2006 16:19

wiseone
you always spoke in good faith. If people are big enough to invest and accept the profits that can go with investing in shares then they have to take the hits along the way. All the leading hedge fund managers in the states made big losses before making it big.

It may be a learning curve for some but we all take hits along the way and either retreat to deposit account based savings or soldier on, have some fun and hopefully make some money!

[nobbymil] 26/6/2006 16:06

PaulKent

"Memories................. of the way we were"

Out some time ago due to lack of faith in PT and Co who wrecked a potentially good business. Sorry to see this go (along with substantial cash!)but, hey, older and wiser.

Good Luck.

[sipptrader] 26/6/2006 15:37

no katie, don't hold this, just posting an e-mail i just received as information for the guys on here. i guess you hold this one though hence your appearance on here.

[pavilion3] 26/6/2006 15:15

WHAT PRICE HAVE PORTAL PAID PER SHARE?

[k123] 26/6/2006 15:10

Have we all lost everything in all cases no matter what?

[twix386] 26/6/2006 15:05

Sorry for your losses and others.

People do take notice of posters they believe are not shorters etc and that appear to have knowledge of some future positive developments. It is each individuals risk to act, but your wording was bound to influence or coroborate someone into hitting that buy button, as you were rather bullish and definite in your comments to say the least.

[twix386] 26/6/2006 14:29

The Wise One,

What the hell happened to all your knowledge and pearls of wisdom telling people this was a recovery play?

Who misled you to mislead others?

[the wise one] 26/6/2006 14:25

just had an internal confirming the plc will be placed into admin tomorrow

[the wise one] 26/6/2006 14:16

anybody know anything we dont already know

[hardben] 26/6/2006 14:16

sipp, holding another loser are we??.

hb

[sipptrader] 26/6/2006 14:14

The Money Portal buys Millfield
Paul Mcmillan - 26-Jun-2006

The Money Portal has emerged as the white knight of Millfield acquiring its two advisory businesses for £10.6m.
The Money Portal has purchased MPL and Sage Financial Services for £10.6m of which £3.4m is payable over the 12 months after completion of the deal dependent on performance.
The completion of the sale will require FSA approval and it is anticipated that administrators of Millfield plc and a number of its subsidiaries will be appointed tomorrow.
Millfield suspended trading of its shares last week and released a statement admitting it was highly likely the company would be placed into administration in the near future.

[sensei10] 26/6/2006 14:04

Paul

For a bidding war you would need interested companies. They wouldn`t exactly be queuing up to take this on. I used to work in insolvency and it doesn`t matter whether they go into Admin immeadiately or not - shareholders rank at the bottom of the pile and I am afraid there is almost no chance of getting anything out of this. Remember the Administrators will take their fees, plus the creditors of the company etc. which to cut to the case often leaves nothing for shareholders.

[sensei10] 26/6/2006 14:02

For a bidding war you would need interested companies. They wouldn`t exactly be queuing up to take this on. Paul, I used to work in insolvency. It doesn`t matter whether they go into Admin immeadiately or not - shareholders rank at the bottom of the pile and I am afraid there is almost no chance of getting anything out of this. Remember the Administrators will take their fees, plus the creditors of the company etc. which to cut to the case leaves nothing for shareholders.

[the wise one] 26/6/2006 14:02

KC, PT & AE, should be all Named & Shamed

[the wise one] 26/6/2006 14:01

besides if the main IFA business is sold off, theres nothing much left to bid for

[the wise one] 26/6/2006 13:56

dont think theres much time for a bidding war with the transition being completed tomorrow.

[paulkent] 26/6/2006 13:51

(sorry..posted thsi on the other thread in error!)

so theyre selling their key assets, MPL and Sage, which are clearly worth a lot of money, and then going into admin presumably becasue they dont have any way of making money once those assets are sold...but then they are selling those assets getting £10 million in but keeping the £15mill of debts, hence administration?..leaving zero for shareholders!
im sorry but i just cant see what that does for shareholders or why thats any better than administration immediately and then see what bids you can get in for the relevant valuable bits?...after all, it cant be worse than zero and might be better if you get a bidding war going once its in admin so has to be worth trying??...

[the wise one] 26/6/2006 13:43

they could get 3.8% net per month in a no notice deposit account with B&B, tahts £31,666 per month. Thats helluva lot more than I invested, come one Easter any chance of getting my dough back? I trusted your rubbish and this is where we end up!!!