Mission Marketing Group Discussion

more director purchases

thirty fifty twenty — Mon, 14 May 2012 19:56:00 GMT

well directors keep buying small parcels...
i think this is incredibly positive
givent that with market nervousness i'd have thought they might hold out a little
but they clearly think sub 30p is a bargin

for me i've concluded that thye must be confident of new business in the pipeline
time will tell

All IMHO, DYOR + BoL
TMMG is in my top5 hldgs
By thirty fifty twenty

Biggesthousebubbleever — Wed, 02 May 2012 15:52:00 GMT

Prostand: come off the fence on this: are you pleased by yesterday's news on Mission? By Biggesthousebubbleever

£110,655 Director Buys

prostand — Wed, 02 May 2012 13:34:00 GMT

Yesterday's announcement is a great vote of confidence in Mission

Good chance to get in on todays dip

By prostand

BOOOM Time

prostand — Tue, 01 May 2012 12:01:00 GMT

Is she manages to break 30p which she is trying now then we could really have some fireworks

Come on Mission, been down at these levels too long. By prostand

Breaking 30p :)

prostand — Tue, 01 May 2012 10:30:00 GMT

TMMG Bid: 27.5p Offer: 30p Change: 3.25

Also forgot to point out ;

Only 72 Million shares in issue so tight supply

Directors Hold after today's RNS over 25% of shares !

Polar Capital Hold over 4%

Nicolas Bacon Holds over 3%

SO thats Over 32% of shares not in circulation

Leaving around 48M shares so when people wake up to this beauty it will move up VERY FAST

Under Starters Orders IMO By prostand

Re: thoughts on director purchases at 25...

prostand — Tue, 01 May 2012 10:18:00 GMT

thirtyfiftytwenty - Not happy with you ! Reading through your notes again has now made me buy even more shares !!

I ususally dip my toe in then research it more before getting more but have broken my rule today which I don't do often

Fingers crossed but this really does look like too good an opportunity to miss out on. By prostand

Re: thoughts on director purchases at 25p

prostand — Tue, 01 May 2012 10:13:00 GMT

thirtyfiftytwenty - Great post and I tend to agree with your thoughts.

HUGE vote of confidence and CLEAR signal that we are way below where we should be.

SHould be a promisisng few months now By prostand

thoughts on director purchases at 25p

thirty fifty twenty — Tue, 01 May 2012 10:04:00 GMT

great news to see such confidence from EVERY director and senior executive
there obviously was a co-ordinated plan and and can see that the 19,150 is 4% of the total
so they had a spread sheet to divide up what they bought in the market
the reason i say this is that it then makes it obvious they wanted to buy 500,000 shares
then the smallest director would have got 20,000 and the 2 larger purchases would have been 100,000 -

i know it is only a small different but obviuously a great sign that the MM could not get hands on an extra 50,000 shares without the price going higher.

as another alternative thought it is surpring that not more of the senior directors where included... i.e. if the ceo went to the second line of senior directors (as they did for the rights issue) and said .... the directors are all buying some shares because we think business significanly undervalued do you want to participate? i think the answer would have been yes which means that they were not asked and also i take this to be because there are just not enough sellers out there.

and i think this menas that dividends will be on the cards sooner than later....
a 1p dividend would cover lost bank interest and directors have even bigger incentive now for that to happen

below i've re-posted my previous analysis to sense check what i think current valuation might be and it still looks like the triple whammy of
- more value for equity as debt paid donw
- more profits for equity as penal interest rates removed
- business actually growing

so take the eps for 2013 at 6p and with debt under 1t ebitda
a p/e ratio of 7t to 10t is reasonable (42p - 60p)

at the itme the price was 23p but even now at 27p
i think the press will latch onto this story bringing in buyers and a price comfortably above 30p
in the short term and 40p a fair value in 12 - 18 mths

All IMHO, DYOR + BoL
TMMG is in my top5 hldgs

--------------------------------------------------------------------------------------------------------------
previous post last month

summary
- ebitda of 6.5m in 2011 so likley to go to 7m in 2012
- debt reduced by a net 3.2m (after 1.5m on development) to 15m
- so with same again debt will be 12m at end 2012 and < 10m in 18 months then ratio < 1.5
- reducing debt will have big effect on interest costs which are currently at punitive rate above base (+7.5%)

- so with maintained op profits of 6m
- reduced interest of 1m (still allowing 10% on 10m of debt)
- gives rolling eps of 5p in 18 months time with average debt in a CASH generative business
so i think a p/e of at least 7t (35p) and 10t (50p) if you buy into a grow story

so still seems a bargin at 23p - no wonder buyer yesterday
i love the trippy whammy.....
1 - the valuation will go up with time as debt burden reduces with great CASH flow
2 - eps will increase as they get onto normal interest rates and maybe re-finance
3 - and on top of that they are actually growing!!

and of course if press get hold of it easy to see a 30p+ spike shortly
given the tp picture too i think all fitting into place......

By thirty fifty twenty

Re: 45p is the new 30p

prostand — Tue, 01 May 2012 08:24:00 GMT

Decided to dip my toe in this morning, Strong vote of confidence by the Directors.

Should be a good 2012 for them and us the shareholders
By prostand

Re: All Directors add to holdings

mantrova — Tue, 01 May 2012 08:13:00 GMT

Excellent news. I doubt there'll be many sellers of TMMG shares considering that the company is still only valued at cÂ£23m and last year's t/o was Â£116m.

m By mantrova

All Directors add to holdings

jashunter — Tue, 01 May 2012 07:43:00 GMT

Good to see confidence of Directors buying, in aggregate, 450,000 shares at 24.59 on 27th April as they consider the shares to be significantly undervalued. David Morgan and team have done a great job in the past year or 2. Onwards and upwards. DYOR By jashunter

45p is the new 30p

mantrova — Wed, 28 Mar 2012 12:31:00 GMT

Noted today, that the target price from Seymour Pierce is 45p. The previous tp I recently saw attributed to them was 30p.

m By mantrova

Re: sadly i'm out

mantrova — Tue, 27 Mar 2012 08:40:00 GMT

Hi 3520

Sorry, I'm the wrong person to ask about this patch....I'm really an oily/miner man. Media and suchlike have been nothing but a graveyard for me.

I thought TMMG were lowly priced when I bought heavily in Feb 2010 @ just over 25p....and then....

Therefore they were on the watch-list and I just followed the dirs in autumn 2011. I think they got some write-ups at that time.

I don't have any big opinions here and as with all holdings I try not to get too attached to them. For me the figures speak for themselves and the odd bits of grammatical daftness which occasionally emanate from TMMG must reflect a mgt which feel they are doing so exceptionally well that they may afford themselves the luxury of possibly being hung by their own petard, at some point.

I don't mind that individual quirkiness - in fact I really admire it ....as long as the basis of such luxury is well founded.

For me, they appear to be somewhere on the right track of recovery and I have a large holding at a low-ish cost which I'll be happy to retain and expect that overall, over the coming years, the sp will show good compound gains until the bod at TMMG do something really daft.

Now, back to the patch where the drill bit says it all.

gl

m

By mantrova

BUY - "2011 was lollapalooza!"

thirty fifty twenty — Tue, 27 Mar 2012 06:46:00 GMT

well no bid but i did enjoy reading the results......

new information
- they had great client wins in 2012
- retention seemed particularly strong which is good sign in a competitive marketplace
- confident undertone to statement
- talk of 'controlled growth' for 2012 which again implies increased profits

summary
- ebitda of 6.5m in 2011 so likley to go to 7m in 2012
- debt reduced by a net 3.2m (after 1.5m on development) to 15m
- so with same again debt will be 12m at end 2012 and < 10m in 18 months then ratio < 1.5
- reducing debt will have big effect on interest costs which are currently at punitive rate above base (+7.5%)

- so with maintained op profits of 6m
- reduced interest of 1m (still allowing 10% on 10m of debt)
- gives rolling eps of 5p in 18 months time with average debt in a CASH generative business
so i think a p/e of at least 7t (35p) and 10t (50p) if you buy into a grow story

so still seems a bargin at 23p - no wonder buyer yesterday
i love the trippy whammy.....
1 - the valuation will go up with time as debt burden reduces with great CASH flow
2 - eps will increase as they get onto normal interest rates and maybe re-finance
3 - and on top of that they are actually growing!!

and of course if press get hold of it easy to see a 30p+ spike shortly
given the tp picture too i think all fitting into place......

All IMHO, DYOR + BoL
TMMG is in my top5 hldgs

By thirty fifty twenty

Re: sadly i'm out

thirty fifty twenty — Mon, 26 Mar 2012 15:42:00 GMT

hi mnatrova - bit of a mad thought but what are the chances of some corporate action?
might as well speculate now awaiting the facts!

it just seems strange that there is any-one interested in speculating before the results
they are well flagged from the IMS and the dealing spread big
so you'd need to be pretty confident of a rise to to buying today and pushing price up against you?

i'm thinking / hoping! maybe mgt that want to buy into debt reduction themselves with an MBO
the other which is def. wiseful thinking is thar SIV might be the buyer - it is also in my top5 so think i'm too close but they are expanding into marketing services and as SIV also CASH generative the combined debt buden would be easily covered .......
also the trading pattern of SIV has been strange over last 2 months so also hoping something corporate might be happening.......

ah ideal speculation when facts so near :-)

All IMHO, DYOR + BoL
TMMG are in my top5 hldgs By thirty fifty twenty