MPG - Metro Glass

[flyer]

I never thought that I would see the day that the trend is my friend and it would relate to Metro. 

Please dont jinx it, I need it to get over 30c - lol.

[Leemsip]

Please dont jinx it, I need it to get over 30c - lol.

Im investing in MPG the last few weeks with buy-ins from $23- $26.5c. Doesnt take much to move the share price, one of my purchases moved it up a cent yesterday. Incredibly thinly traded.
50c by Christmas lads, hold steady

Wrote to the company this week as per below and hopefully the exec will step up in the Nov report back.
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I am an investor with Metroglass and have been surprised and displeased at the current low share price despite what I consider to be:

• Ongoing solid results
• A really good plan to paydown debt as quickly as possible and following through with this plan
• Write down of the crap on the balance sheet
• A somewhat convincing story in your Oz business.
• One of the lowest price/earnings or price/ cash earnings multiples on the NZX

To a great extent, in my humble opinion, the price/earnings multiple of a business reflects the narrative of the business. We only have to look at Tesla to know this is true, best propaganda, press relations etc in the world, price to earnings multiple of 1000. Taking this then as being at least somewhat true, the Metroglass narrative is one of the worst of any public listed business in NZ.

This would be easy for the company to change, starting with the Sept half year report.

MPG need to directly answer key concerns

• Australian lockdown and a decent forecast for this side of the business
• Potential for less residential construction in NZ
• Talk directly to competition. There was some mention of a strong new competitor entering the scene a year or so back, whats happened here?
• Debt reduction. Forecast debt a year from now and 2 years from now. Other releases have been pure backward looking.

MPG need to start getting a positive narrative out:

• Start paying out 1c per share dividend right now. I think this only costs about $2m per year so no biggie for the company but will be a 4% cash return for shareholders. Signal future dividend increases and exactly what situation these will occur and when expected.
• The level of ownership amongst the exec shows no faith in the company. The CFO owns $2k odd of shares, gotta be kidding me!! Management need to show some faith and get invested this month. If this doesn’t happen then why would anyone invest?
• Narrative should talk more about the size and scale of the company. Market share and stability of this is important.
• Start talking to Jarden and whoever else and get a better rating for the company.

Looking forward to you scraping this company off the floor and up to 50c per share. Put some effort in!

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[bullfrog]

Great summary, announcements regarding significant glazing contracts would also build confidence.

[Louloubell]

Beautiful Leemsip!!

[Arbroath]

Beautiful Leemsip!!

Another new recent high today at 28c. First half results due in 6-7 weeks time should be the catalyst to cement the turnaround

[Leemsip]

Another new recent high today at 28c. First half results due in 6-7 weeks time should be the catalyst to cement the turnaround

This share is my biggest holding now.

Im thinking this company is a prime candidate for a private equity takeover, then lever it up with debt and IPO it in a couple years.

[Leemsip]

checking NZX everyday to see if the CFO has bought shares (as instructed_. Goddamn it, he is holding out. Probably in the period where this isnt possible now as Sept half year results are due soon.

[winner69]

checking NZX everyday to see if the CFO has bought shares (as instructed_. Goddamn it, he is holding out. Probably in the period where this isnt possible now as Sept half year results are due soon.

Was he meant to be buying or something

Has not too many shares but heaps of options.

[Louloubell]

Can't believe that we are talking about MPG, but it keeps tracking in the right direction.

But all on pretty low volumes.

[Louloubell]

Just talking to myself😜 Go Metro, keep up the good work.