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Anyone attending the AGM? Do we expect any insight into the sale strategy?
The lack of communication since the sale announcement is bizarre
I think it was you that said, maybe someone in there looking at YTD performance against a future forecast/valuation. Really management should take a 8888 or get off the pot type approach with them. Whole thing has been amateur hour. I'd be embarrassed leading a company stuck in that period for so long.
Aside from that diabolical mess, they should be keeping it simple .... buy cheap and sell through fast, generating cash. It's literally that simple as they have the machine to do it already.
Stop the faff with rental / ATM and all that ... its simply junk that sounds great and fancy but simply adds cost or drags on the balance sheet.
You can then sell it on next year as a decent lifestyle business.
You couldn't make it up if you tried. 4.5p sell earlier. now a 6.00 buy. both very small trades.
Surely they must still be in talks otherwise they would be out of the offer period?
Lots of manipulation in the bid/offer today - no proper trades went through sub 5p.
My understanding from Takeover Panel was pretty clear: no talks, no offer period. So we have to assume that there is something going on behind the scenes
The shared price is like a coiled spring - MMs tried pushing it down another notch today but it wouldn't go
The share price of this compnay has NOT reflected the market value of the company for a while now ; at £2 it was overvalued and sub 30p it has been undervalued. I cannot and do not take the SP too seriously when volumes are so low - the SP is simply a number that connects a few small buys and a few small sells. It cannot be long until we get a realstic indication of what this company is worth in the current market; when we see a more material volume of shares change hands as part of a change in ownership
Man City win for 4 times in a row, Good job they weren’t sponsored by MMAG 🧐
Even coiled springs hit potholes or in this case a canyon
Working overtime Robswire? Sign of panic….
I see the fair market value as 18-21m and it really hinges on them maintaining the usual EBITDA level but reducing all the adjustments due to rentals and the like which flipped it into negative net. So much can be done to quickly to sort. They should have seen if they can offload the US business ... someone should go after this at the AGM.
Also, I saw the chatter on the 'D' some time ago. 33% depreciation per year on assets in field is over zealous and overburdened the balance sheet. They also burden at their cost, not what they would retail for. Good policy to sandbag it but after a 2 year rental, they will achieve 60% of their original device cost at least (less handling/processing). The model that they will only get 33% back is safe but should be significantly over-achieved. If mngmt cared about their SP, they should have got into that. No one likes guaranteed future value models for buyback contracts ... it's too volatile in terms of what could happen in the manufacturer space. Again another to challenge at AGM.
However, if you look at an iphone at the moment ... after it's done it's 15% out the box and additional chunk during year 1, the dep rate % has actually dropped in years 2,3,4 of late compared to 2015-20.
Very re-assuring that robswire and cronies are here needing to buy into the AGM.
Hedge, when it comes to 'manipulation' it's quite easy to send this SP either way. You literally only need to drop 1-200K in small packets into this ticker to drop it ... the issue is the spread is unattractive to buy your shares back so can only imagine it might be an MM. Also, when you look at Shore's data it's pretty much a wash in buy/sells.
So my thinking/theory is simple. Someone's dropping as little stock as possible to bring it down and along with it catching some that succumb to fear. When (and if) the buying starts into the AGM or after, they will simply meet more sellers at 7/8/9p than they'd have ever seen before.
The question will be, if the news is good, how strong and sustainable is it. Personally I think finally coming out of the takeover period will fuel some further SP attrition.
Funny how the manipulation conspiracy theories get trotted out on these boards, only ever applying to share prices going down. As if there's a spooky cabal out there that would be bothered to manipulate the share price of a distressed retailer of used phones with a £5m market cap.
Depreciation of rental assets is 33% reducing value so after 2 years asset stands at 45% of cost, not 33% . No quick “D” fix to be found. Meantime they carry on capitalising IT salary costs!
404x - could not disagree more
I have seen plenty of manipulation of a share price going up
You are either being naive, stupid or disingenuous - if you think share prices are not manipulated
If you were about to make an offer for all the shared capital in a company - you would want a lower share price
If you wanted to short a share price you would want a high share price
the list is endless and there are many partites who have the tools to influence / manipulate
Yawn....
Whoops sorry, that was in response to another tedious post from Robswire obsessed with capex.
Mayve Robswire should think about what the cost would be to set-up a company in tis space that can deliver the EBITDA that MMAG do and compare that to the current valuation
So 🫢 if I want to short MMAG I need to first manipulate the price up by buying a load of shares? Which I later dump at a loss
Wish me luck 🙏🏻
Nope, not talking about shorting, more about accumulation. I don't for one second think you short or invest anyway.
Have I missed something, where's the proxy form to vote?
Voting has to be done by tomorrow. Don’t like dis application of pre-emption rights but aside from that very dull and usual.