Myhome Share Discussion Threads

[topvest] 28/8/2008 22:49

Yes, it's wipe out time. Maybe a massively dilutive 1p fundraising. They do in my opinion have a viable business model that is worth something, but shareholder value has gone - this is not time to breach banking covenants and confidence. Oh how glad I am to have sold most of mine at a £1. Hung onto the rest. I suspect a number of the larger shareholders that invested lots are rather upset on how this has imploded!...Wray, Starvest + many others!

[argy2] 28/8/2008 18:19

Lloyds may be offered less than the company actually owe them so will need to approve any write offs.

[egoi] 28/8/2008 17:41

Yes, simply astounding imho to call this 'good news', except possibly it means that the company has a - possible - avenue to keep it surviving at least a little longer.

I read it as implying that Lloyds were not prepared to renew the facility and they have had to go elsewhere, ie Lloyds think they are no longer worth the risk if I'm right. And now the new lender needs Lloyds approval to take over the loan, which I guess they'll get.

Anyone who has been in long term and still holding I think has failed to read the danger signs which have been apparent increasingly for the last 12+months. There was a good chance to get out.

Of course I hope the company is rescued, never nice to see anyone suffer in this way.

[steve61] 28/8/2008 17:08

It's not such good news when the next sentence says:-

'In addition, the offer requires the company to issue new shares at a substantial discount to the current market price in order to provide additional working capital.'

In fact, it's very (more) bad news for shareholders.

[lgpixels] 28/8/2008 17:00

This bit looks like GOOD NEWS:)

The Board is pleased to announce that it has received an offer from a potential investor, subject to contract, to replace the existing Lloyds TSB facility with an equivalent facility on terms to be agreed.

[mackdaddy] 28/8/2008 15:51

brando = fat english peadophile

[brando69] 28/8/2008 15:38

mackdaddy = uberdiddy

[brando69] 28/8/2008 14:55

this dog still barking?

amazing

[mackdaddy] 28/8/2008 14:48

finally the news we have all been waiting for!!! congrats to all holders.. you deserve this!!!

[egoi] 28/8/2008 14:21

Deeply discounted placing on the way - if they are lucky! If not, last one out turn the light off; if they've not been cut off by then..........

'Re banking facilities and equity fundraising

On 22 July 2008, the Company announced that it was in discussions with its bank, Lloyds TSB Bank plc ('Lloyds TSB'), regarding re-negotiation of the £8 million banking facility and a potential equity fundraising.

The Board is pleased to announce that it has received an offer from a potential investor, subject to contract, to replace the existing Lloyds TSB facility with an equivalent facility on terms to be agreed. In addition, the offer requires the company to issue new shares at a substantial discount to the current market price in order to provide additional working capital. The proposed offer is subject to due diligence, approval by Lloyds TSB and receipt of shareholder and regulatory approvals as required.......'

[petersmith6] 17/8/2008 18:50

were at this price as were listed on the AIM, the AIM changes its mood faster than a woman. face it, were not trendy at the moment. many a good company has been done over by the mood swings of the MM's.

[gsands] 15/8/2008 17:14

New news:

Myhome Call Center Success
The Team Book Multi-Brand Appointments!
Recently we brought you news on our latest multi-brand franchisee, and on the increase in call volumes the Myhome call center have been receiving. This week we are delighted to bring you yet more fantastic news from our head office team- the Myhome call center are now beginning to receive a rise in multi-brand bookings, as Myhome maintains its profile as a house-hold name.

[gsands] 15/8/2008 17:14

Thanks for taking the time to share that info with us TD.

[troll_detective] 14/8/2008 19:46

I have absolutely no position in Myh but thought I'd throw this into the thread.

I spoke to a mate of mine last week who is a large city franchisee with Myh (primarily to ask if he knew wtf was going on and to be careful - he wasn't aware of the share price collapse). What he did tell me was that he had work coming out of his ears..to the extent that it was difficult to keep on top of (unis, landlords etc).

Really don't know if it means anything company-wise, or is tradeable but there ya go!

[gsands] 12/8/2008 22:08

lgpixels,

Very well said and there is little I can add to your assessment.

[lgpixels] 12/8/2008 16:56

I don't know what terms an equity issue would be done if at all (increase in trading would mean it is not required). We could see the company sell over 200 franchises next year, significantly improving profits and strong cash flows. My view is that a successful fundraising, could make an investment even more attractive. The largest shareholders were more than happy to buy many millions of pounds worth of shares at 40p and even as high as 80p, over the last couple of years. Now after the restructuring, and acquisition program, the company has got more turnover than ever before. If you have a medium to long term view and understand the business model it could be a good time to get involved with the company.

[argy2] 12/8/2008 16:01

Possibly although it will take a long time to win back investor confidence especially withe likelyhood of a heavily discounted funding to come.Many will wait and buy on the back of that should the share price react down to any issue price.

[lgpixels] 12/8/2008 15:36

Don't think it will be to long before Myhome, has over 1,000 franchisee. We should see rapid international expansion over the next few years. The current price is a rock bottom, after hitting over £1 less than a year ago. A recovery could see the shares much higher than they are now. I am confident that the business will get new equity to reduce their bank borrowing, as the company has a very strong shareholder base. It is also possible that Service Master in the US might make a bid for the company at some point. Would expect a trading update from the company soon, as they should have already exceeded franchisee recruitment in the first half. Not the most popular share at the moment, but guess that makes it a good purchase for the Intelligent investor:)

[lgpixels] 09/8/2008 11:31

GROSLY UNDERVALUED!

Operating profits over £1m this year and should easily double the next year.

An increase in franchise recruitment will have a dramatic impact on bottom line profits next year. 50 franchises sold in the last 3 months, compared with 77 for the first 6 months of the financial year. The costs base has also been reduced by £0.5m, which will improve current performance. Interesting to see this one over the next few months, as expecting it to be very volatile. We could easily see it bounce back to 15p in the short term, and any equity injection will improve the case for investing in the company. We are also coming to an end of the credit crunch, which will improve the availability of finance and increase the sales of franchises. There are many success stories with Myhome at the moment, with some franchisees making very good money.

[petersmith6] 09/8/2008 11:26

i do 40,000 miles a year and yesterday i saw my first myhome van!!!!! just the one. my they were nice buckets in the back

[slapdash] 07/8/2008 15:24

as predicted the pre-fundraising rally.... existing shareholders probably manipulating the price... positive research produced... newspaper tipsters involved... etc etc... all so the existing shareholders don't get diluted and money is raised...

quite a slimey industry... also probably will get a new CEO so he can blame the old guy for everything..

Slap

[moreupsthandowns] 07/8/2008 12:16

once this little bounce is over then back down to 3p

[jaypea] 06/8/2008 11:39

GS, thanks.