Manx Financial Group Live Discussion

dandigirl 28 Mar 2018

Re: worth 25p on what we know Hello CT, the loans do help expansion but I am not sure you are correct in stating that they provide regulatory capital. It is my understanding that those days have gone for loans such as those provided in this case. All are short term in nature.It caught my eye that their interest rates are 5% and more with conversion rights of 7.5p and 9.0p. Incidentally capital is roughly £17m. Loan notes total £9m, over 50%!One can only imagine the rates of interest, etc. charged to their borrowers in order to be able to pay for these loans.The Chairman indicates that additional capital is to be sought on a non- dilutive basis! Hmm. I will continue to watch.

CASTLEFORD TIGER 28 Mar 2018

Re: worth 25p on what we know The loans are there to provide regulatory capital to allow the bank to expandTiger

CASTLEFORD TIGER 28 Mar 2018

Re: Price today 12.45p to buy. Looks far too cheap but the mm decideTiger

dandigirl 28 Mar 2018

Price today 12.45p to buy. Just tried to deal to see what the buy price was. Could buy only a small amount online at 12.45p. Anything much bigger would require a phone call which would suggest high illiquidity. Let us see where MFX goes in the coming days.

IOMINVESTCOM 28 Mar 2018

Acquisition of Blue Star Business Solutions Limited 28/03/2018 70amUK Regulatory (RNS & others)TIDMMFXRNS Number : 1538JManx Financial Group PLC28 March 2018 FOR IMMEDIATE RELEASE 7.00am 28 March 2018 Manx Financial Group PLC (the 'Group')Acquisition of the entire issued share capital of Blue Star Business Solutions LimitedManx Financial Group PLC announces that Bradburn Limited, its wholly owned subsidiary, has entered into a binding agreement to acquire the entire issued share capital of Blue Star Business Solutions Limited ("BBSL" subject only to Financial Conduct Authority ("FCA" approval of the proposed change of control. An application to the FCA has been submitted and completion is expected to occur within 30 days.BBSL was formed in 2004 and is based in Hampshire and regulated by the FCA and holds Credit Broking Authorisations. The two co-founders of BBSL, Marcus Gregory and Mark Hayman, have developed a niche brokerage which focuses on delivering excellent customer service to small and medium sized businesses in the UK that require funding for IT equipment amongst other assets. For its financial year to the end of March 2018, BBSL will fund in excess of GBP9 million of loan proposals and as at 31 March 2017 reported an unaudited profit of GBP101,252 after tax. Post-acquisition the Group will invest in BBSL to allow it to grow profitably by gaining market share and through its banking subsidiary, Conister Bank Limited, write the majority of its funding requests.The board of directors of BBSL will be strengthened by the appointment of Douglas Grant, the Group's Finance Director, and Denham Eke, the Group's Chief Executive Officer.The main terms of the transaction are as follows: -- An initial payment of GBP1,500,000 in cash at completion; -- 50% of the enlarged earnings before interest, tax, depreciation and amortisation ("EBITDA" in BBSL for 3 years post completion arising from ongoing trading of the BBSL following completion of the acquisition; together with-- 50% of the incremental net profit that the Bank realises as a result of it taking up BBSL loan proposals post completion until the third anniversary of the transaction. This will be paid annually with a final payment in year 4 for the unrealised discounted tail of the portion;-- The maximum aggregate consideration payable by Bradburn (including earn-out consideration) is capped at GBP4,000,000.* net profit is defined as the amount of income earned (less costs) realised by the Bank arising from new lending which has been originated by BBSLThis acquisition is part of the Group's strategy to increase its distribution in the UK broker market.Douglas Grant, Group Finance Director, commented: "The asset backed finance market in the UK recorded its seventh year of successive growth last year, led by the broker finance market which grew 14% year on year. This is a market Conister Bank is active within and indeed wrote more than GBP16 million of business last year. This acquisition will bolster our presence in this attractive market sector and act as a catalyst for future growth. Both Marcus and Mark have great experience in the UK broker market and are keen to grow the business with our assistance and I am equally keen to work with them to achieve this goal."For further information: -Manx Financial Group - [link] Star Business Solutions Limited - [link]

dandigirl 20 Mar 2018

Re: worth 25p on what we know Don’t know what you mean? Debt conversion would be additional capital but diluting existing. Not a reduction.

CASTLEFORD TIGER 20 Mar 2018

Re: worth 25p on what we know Regulatory capital has to be there to support growth. Tiger

dandigirl 19 Mar 2018

Re: worth 25p on what we know Admittedly it was a very quick looksee following some weekend comment but I noticed lots of debt from connected parties at nice rates of interest for the lender and convertible at prices way below today’s share price. Couldn’t be bothered to work out the effects of dilution but I saw enough not to want to bother. You may? Good luck.

CASTLEFORD TIGER 19 Mar 2018

worth 25p on what we know it will get re rated...........just don't know when as it falls back to 12.5ptiger

SeasideHippo 16 Mar 2018

Full year results Results earlier than expected but looking good for significant rerate in SP imoOnwards and upwards

M1keG 14 Feb 2018

Possible Signs of Expansion Into UK New jobs being advertised with a new address?An exciting and varied opportunity has arisen for experienced Business Relationship Manager(s) to join Conister Finance & Leasing's new operational hub based in the heart of Manchester.

CASTLEFORD TIGER 30 Jan 2018

Re: Strange not seen the share register recently butApprox. figuresA Banks 40mJ Mellon 21Bailey 18mthat's about 80 of the 131mThere are a fair few other holders around 3%.Mine are diluted somewhat now but still have over 2 m shares in various accounts.My target has always been 30p.Tiger

SeasideHippo 30 Jan 2018

Re: Strange Yes online, but allowed me to sell the following day.Some fairly large 'sells' today!! why would anyone want out so near to results in March? Am I correct in thinking not many shares in free flow?

CASTLEFORD TIGER 29 Jan 2018

Re: Strange I assume you mean on line?Still think that big buy a month or so ago was /is the trigger as price is almost back there.Results probably next news maybe march?Not much buying can send this up fast now we have cleared those options up.tiger

SeasideHippo 18 Jan 2018

Strange Not been able to sell (not that I want to) any shares since late yesterday p.m.!! Anyone else experiencing same? If so any ideas as to likely reason?