MPG - Metro Glass

[bulltrap]

B&g-r - down 12% just like that .. but hey - we all knew this was the likely scenario

There wasn't much noise coming out of the glass box to reflect much excitement ..

A fast fix might be to sell the Kiwi Job & move to an Aussie ASX listing

Someone is bound to come along sooner or later wanting to take over what's left .. the Aussie Job & Company
for a fairly good bundle .. maybe the same suckers who took a shine to the Kiwi side but who knows ?

Happy days all round for those who lasted the ups, downs & long wait

They do already have the ASX listing, MPP.ASX. There's no liquidity there, so it's easy to ignore most days.

So yeah, domiciling in Aus could be a straightforward step, maybe in the right direction.

Let's hope the leaner, refreshed board is more open to alternative possibilities to selling the AGG arm. It's clear by now that it's not good timing to sell, and the approach hasn't washed well with the market or major shareholders.

The more you carve up a company, the weaker and more vulnerable the parts become. Rolling it all up into a larger vertical (that is, a full acquisition) would make more sense, and should've happened years ago.

[winner69]

Goodness gracious ……. MPG share price went below 10 cents today

No wonder Chair resigned the other day …..embarrassing ….and wouldn’t want to front up at another ASM


That’s a pity …..ASM we’re a great watch lol

Edit. Deleted reference to Waterman …my bad

[stoploss]

Goodness gracious ……. MPG share price went below 10 cents today

No wonder Chair resigned the other day …..embarrassing ….and wouldn’t want to front up at another ASM …seeing Waterman put him pre IPO to add ‘respectability’ to the Board

That’s a pity …..ASM we’re a great watch lol

Winner what’s the Waterman reference about ?

[winner69]

Winner what’s the Waterman reference about ?

Sorry my bad …getting confused with MFB lol

Griffith was appointed shortly after the IPO to further ‘beef up’ the board

[whatsup]

.10 wow, I guess this was always going to happen and a very long way from its 2016 $2.00, Q is will they survive and if so HOW ?

[Leemsip]

Huge issues which seem hard to resolve:
- debt is still @ $55m.
- revenue will decline for the next 2 years following building consents

They can cut costs on the margins and raise prices, but only so far. I think the $55m anchor will drag them down.

Wow the new director Jen Bestwick didnt last very long, had no idea what she was getting into obv.... next time she might do some due diligence

[whatsup]

Huge issues which seem hard to resolve:
- debt is still @ $55m.
- revenue will decline for the next 2 years following building consents

They can cut costs on the margins and raise prices, but only so far. I think the $55m anchor will drag them down.

Wow the new director Jen Bestwick didnt last very long, had no idea what she was getting into obv.... next time she might do some due diligence

So another SML ?

[Leemsip]

SML has assets. Not sure MPG have anything to sell that will be good for the company... If they sell Oz part of the business they are left with an under performing NZ outfit with high fixed costs and overheads....

Need an equity raise (like 2 years ago), to get rid of the debt. Been following this company for ages. I sold out at 45c or so I think.... waiting for them to turn the corner or raise some equity.

[t.rexjr]

- revenue will decline for the next 2 years following building consents

I suspect we've reached the low end of consenting and are starting to turn the corner. The construction industry is in a lot of pain but the cogs (slow though they may be) are in motion.

[nztx]

They do already have the ASX listing, MPP.ASX. There's no liquidity there, so it's easy to ignore most days.

So yeah, domiciling in Aus could be a straightforward step, maybe in the right direction.

Let's hope the leaner, refreshed board is more open to alternative possibilities to selling the AGG arm. It's clear by now that it's not good timing to sell, and the approach hasn't washed well with the market or major shareholders.

The more you carve up a company, the weaker and more vulnerable the parts become. Rolling it all up into a larger vertical (that is, a full acquisition) would make more sense, and should've happened years ago.

might be in need of a necessary deed of chucking the side of the ditch's operations with least favourable prospects to improve on the block for some other poor sucker to take away to play games with for whatever gets thrown in the begging bowl - to avoid the whole lot falling off the chocks if no improvement likely within a couple of years.. otherwise how will it survive ?

Or perhaps even a nasty Reverse dividend / aka Cap Raise @ say 5 cps- no tax credits or withholding tax needed into MPG's begging bowl likely to go down well with all the long suffering boys & girls - on Doctor's orders to keep the outfit out of the ditch for a while ?