Themutual.Net Share Discussion Threads

[johnwall] 05/6/2009 15:14

Can't speak for anyone else but i've just bought a few on the basis, as marben said above, that an enlarged group with 1000 employees and run by Danson may very well be worth more than the £40m market cap implied by the current TMN price - but until we see some figures i agree that it's just a punt. Still leaves my old IBG holding way under water unfortunately :-(((

[pelleeds1980] 05/6/2009 15:13

Notice someone bought £19.5k worth earlier. Confident!

[garth] 05/6/2009 15:12

Surely the whole process allows Danson to value his company at whatever he wants and gain control of TMN at zero cost to himself?

[hirschnathan] 05/6/2009 15:09

someone must understand something that I dont, why the buying?

[still waiting] 05/6/2009 15:09

they really are useless of late.

not letting you buy NVR either.

[old boy returns] 05/6/2009 15:08

bozzy_s - Datamonitor was sold to Informa for £502M in 2007, not Progressive.

Progressive was founded by and is 100% owned by Danson.

How on earth are we supposed to assess this deal without any financial info on Progressive ?

[abcd1234] 05/6/2009 15:07

and Barclays still dont recognise the symbol TMN

[mdchand] 05/6/2009 15:04

my take - 291m shares at circa 10p representing 79% of the entire group - gives the new company a market cap of £36.9m.

Whether this represents good value is dependent on someone digging out more info on progressive. i might have a look via companies house to see their last audited accounts.

In this sector you would probably want a gross profit of circa 4m with decent assets but someone might be able to better advise what a decent pe ration should be for a media company.

[hirschnathan] 05/6/2009 15:03

cant figure out why people are buying as of yet?

[hirschnathan] 05/6/2009 15:03

problem is we have no figures re progressive

what happens if tmn run out of cash?

[bozzy_s] 05/6/2009 15:01

Valuation of c. £502m 2 years ago. Now enlarged group valued at c. £40 - £50m. DYOR. Might have missed something key myself.

-Progressive is a business to business publishing company and information
provider founded in 2007 by Michael Danson the former CEO and founder of
Datamonitor plc, which was sold to Informa in 2007 for approximately GBP502m.

[1vantheterrible] 05/6/2009 14:51

parvez

do you work for the co ?

[marben100] 05/6/2009 14:43

Impossible to say without knowing more about Progressive - but a combined group employing around 1,000 staff may well be worth more than £40m. ;0)

[parvez] 05/6/2009 14:41

Mr Dawson knows how to create value as he did with Datamonitor. This is a superb deal and will get going once it is well known! Be in papers tomorrow too! I wonder in MMs are holding price back for moment?

[bones30] 05/6/2009 14:40

So what price should these rise to?

[pelleeds1980] 05/6/2009 14:34

No joy to get any more with halifax now negotiated trades only, was lucky enough to get some on the day they got suspended but only £500

[marben100] 05/6/2009 14:32

Well... I was thinking of taking a punt by adding a few more - but as most will have noticed we've seen a bit of a leap already. :0)

@ the current share price of 10p, we're looking at a market cap of £7.8m for 21% of the enlarged group. Hmmm...

A nice result for 8trader so far!

[still waiting] 05/6/2009 14:31

I tried to buy these an hour ago at 5p but barx couldn't find the symbol.

b*llocks.

[encarter] 05/6/2009 14:29

Hard to say but i don't like this bit.

"On 30 January 2009 the Company released its trading update in which the
Directors stated that, "profit will be approximately 50 per cent. below the
Board's expectations" for the financial year ended 30 April 2009.


The trading conditions experienced by the Group remain challenging and the
Directors continue to carefully manage the Group's profitability, cost base and
expenditures. Trading in the current financial year has stabilised in recent
months, albeit at lower levels, and although the benefits of the cost reduction
programme implemented last year will begin to appear in the current financial
year, visibility of earnings remains poor and the outlook for the markets in
which the Company operates remains uncertain. Should trading not improve, the
Directors believe the Company may need to renegotiate banking covenants in order
to meet its near term financial obligations. The Directors may seek to dispose
of certain assets within the business to generate additional near term cash or
pursue alternative sources of funding in case a renegotiation of its banking
covenants is not successful. "

[pelleeds1980] 05/6/2009 14:29

sauce - I agree, cant work out what were getting either

[valustar1] 05/6/2009 14:27

Might be me but I can not find the admission doc on their web site

But the market likes the deal

[omlaysause] 05/6/2009 14:25

The market seems quiet happy with the deal.
Still not sure what it means to me though?

[pelleeds1980] 05/6/2009 14:17

No I know how that feels - just rushing to get it on here my bad.

[marben100] 05/6/2009 14:16

Thanks for editing - much appreciated :0)