The Mission Share Discussion Threads

[clocktower] 15/5/2024 09:38

What good is a non-controlling interest to BBSN CliffPeat?

It is clear they are not going to accept the tissue paper offered, knowing that BBSN will then raise funds and dilute holders.

BBSN directors in the past have acted against PI's interests when if came to raises, they were excluded, but the Greens feathered their nests and took part in that raise.

They made it very clear they just want to expand and will raise as and when they fancy to achieve their aims, so if thet can get their hands on the cash needed, who knows.

[cliffpeat] 15/5/2024 09:16

This morning's RNS

So that's DBAY, the advisors and indirect, part owners of 11% of TMG advising the Board of their client - "... LDG not to take any action in respect of the Possible Offer at this time."

DBAY Advisors are based in the Isle of Man. London office DBAY UK Ltd. Controlling shareholder is Mr Alexander Maria Paiusco resident in Monaco.

Logistics Development Group plc [LDG] - formerly Eddie Stobart Logistics plc. According to its accounts for the YE 30 November 2023 it had "acquired 11.72% [of TMG]" 10,665,000 shares for £1.7m I calculate that means around 19p a share and RNS notified date as 3 November 2023. DBay Advisors Ltd own 27% of LDG

This episode is making TMG an investment "football" that is being kicked around by "professionals".

Is DBay/LDG really saying to Bison that they might sell their 11% for cash? Would that be within the LSE T/O rules without an offer to all shareholders?

This is an unwelcome diversion from the main operational task of restoring the business to profitability.

[cliffpeat] 13/5/2024 18:09

This approach is clearly opportunistic. Ashcroft is a canny and perhaps ruthless player whose chequered business history can be read on Wikipedia.



Before the "ancients" became presidents of the US we would have said he was in the twilight of his career - but he is "only" 78.

I doubt his world view would chime with the entrepreneurs that form the TMG consortium of marketing skills and sectors.

The value of these service companies like TMG is closely linked to the people in them. If they leave the business will suffer.

I hope there is little appetite among the shareholders to engage with Bison and that they are sent packing - preferably without a "white knight" being required.

In normal circumstances one might scoff a low-ball primarily paper-for-paper offer - but these are not normal times.

Under David Morgan's shrewd guidance I fully expect TMG to recover and move rapidly into significant and sustained profitability.

All just my opinion. DYOR

[cb7] 13/5/2024 14:47

the bid of around 29p values TMG at almost exactly the same as their net debt pile at 26.8m. In other words the bid actually puts a valuation of 58p including debt, which I think is reasonable. So I think the song and verse from the board says more about them losing their jobs than reality, as headline profits of 54% for Mission are not dissimilar from their 45% composition of the new entity.
Cleverly the bid comes at a high point in the year for net debt, with it normally reducing significantly towards the end of the year, which surprisingly the board dont mention in their long list. Nor do they mention current trading and this years outlook, for example they could have set out aims, like reducing net debt to xx million by the year end.
The shareprice movement suggests the market doesnt think the board are interested and wont even ask shareholders. It is possible the bid may flush out a rival offer, but it wont be much higher (if at all), but may include some cash to sweeten the deal, oh and more bums on the board to get it over the line!

[clocktower] 13/5/2024 08:07

If this deal gets done, then you can expect BBSN shares to be consolidated for the cash raise imo.

BBSN shares have not traded above the 3p level for years if you check the charts, so will you be better taking what you can now?

[analystium] 12/5/2024 17:03

BBSN have bid for Mission with two articles so far:

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[mfhmfh] 12/5/2024 16:17

I'm sure it will be rejected. IMHO.

[dr biotech] 12/5/2024 15:40

hxxps://archive.is/cOj9t

Doesn’t say much. Guess we’ll find out tomorrow (currently not holding)

[davebowler] 12/5/2024 15:37

Citywire reporting on weekend tips.

[cliffpeat] 12/5/2024 14:34

@davebowler Are you sure?

Market cap at the moment per LSE dot co dot uk is £20.62m.

New/old chair, David Morgan (appointed Nov23), is straightening the group out and losses include clearance write offs like Pathfndr disposal.

I haven't seen the article but it isn't usual to announce details of potential bid before making the bid :(

Nice to see that TMG is seen as a rival!

[davebowler] 12/5/2024 12:53

The Sunday Times: Brave Bison, a listed digital marketing and tech development agency backed by the billionaire Lord Ashcroft, is set to bid at least £22m for rival Mission Group

[chrisdonohue] 07/5/2024 12:47

Market makers appear to have lots of stock to get rid of as recently buy volumes have exceeded sell volumes without an increase in the share price. But the break should come as market makers eventually get rid of their stock and the price then is forced to rise.

[chrisdonohue] 20/4/2024 12:58

For those who feel Simon Thompson is an unreliable guide, you would have done well to follow his advice regarding Billington Holdings (BILN), tipped by him at 387p on 19th September last year, now trading at 590p, a rise of 52% in 7 months with possibly more to come.

[cliffpeat] 18/4/2024 10:48

The RNS today indicates that two recent acquisitions have performed sufficiently well to qualify for their "earn-outs". I see that as a positive sign though there is a consequential small dilution following of the issue of the shares element.

[chrisdonohue] 16/4/2024 14:24

I follow Simon Thompson, think he is fairly reliable but chose the shares I buy on his recommendations carefully and tend not to lose money. If TMG gets anywhere near the brokers' estimates of 6.18p and 7.07p the following year, he is right that the shares are greatly undervalued. But I am optimistic about the market rather than cynical about experts' recommendations. As many small share prices are at or near 5-year lows and there is a cost-of-living crisis for many, now seems to be a very good time to buy small company shares.

[symbiote] 10/4/2024 10:33

Same with all tipsters? Like with all pundits you need a healthy degree of scepticism. I enjoy reading old copies of shares magazines to see who said what; many laugh out loud moments."Experts" have to try and sound convinving. Sometimes they were right if you were lucky with timing but very wrong if not. The best ones were the ones who really understood a sector and were patient. That's the game I guess.

[estienne] 10/4/2024 10:15

Anyone who follows Simon Thompson is going to lose money

[qs99] 03/4/2024 13:45

Tend to agree with ST and think IMO they will surprise on the upside, so I reckon nearer 7p as marketing spend holds up or recovers as interest rates turn down.

Paying down debt, with interest rates coming down should also help reduce debt burden.

DYOR but am in for the ride and nudging above 50p in 24....DYOR

[18bt] 03/4/2024 10:28

FWIW, Simon Thompson's update:

House broker Canaccord Genuity is pencilling in a recovery in current year pre-tax profit to £7.6mn on annual revenue of £91mn, and a doubling of earnings per share (EPS) to 6.2p. Although shareholders will have to wait until 2025 for a return of dividends, free cash flow will be used to pay down debt.

Priced on a multiple of around four times operating profit estimates to enterprise valuation, the shares have further recovery upside. Buy.

[jeff h] 28/3/2024 20:07

DBAY I guess:-

"...The Board received a number of unsolicited preliminary takeover approaches from a potential offeror, both prior to and after the 23 October 2023 trading update, to acquire the Group. These proposals were considered thoroughly by the Directors, having sought independent financial advice, but were unanimously rejected as the Board felt that the proposals materially undervalued Mission, its business and prospects..."

[matt] 28/3/2024 18:56

David Morgan, MISSION's Non-Executive Chair, commented: "The difficulties encountered in 2023 as a result of the challenging trading backdrop have been well recorded. Nevertheless the year has still seen the Group continue to grow revenues with strong client retention and strategic new business wins.



"We have made quick progress in executing on our Value Restoration Plan, ensuring we have a platform from which Group profitability will improve in 2024 and remain focussed on continuing to strengthen our balance sheet. Trading in the new financial year remains in line with expectations and this further underpins our confidence for the year ahead and beyond."

[tyranosaurus] 28/3/2024 18:38

Results at 5.30pm when market`s closed for 4 days.
That`s the way companies try to bury bad news.
This one is no different.

[cliffpeat] 28/3/2024 18:19

He's definitely back!

David Morgan's report includes the coded "ostrobogulous creativity".

Look it up.

I'm much more confident in this company now.

DYOR