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MFS - MFS Limited

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MFS are still paying a dividend aren't they????

As far as I can tell nothing has changed?

Just because they are splitting up the company, their forecast for 2008 is still to pay a dividend of 28 cents.

This would be a whooping 28 percent if I am not mistaken.

Could it be that the Centro and Rams home loan debacle has created one of the greatest opportunities to buy MFS at a massive discount to its real value?

There are going to be a heap of margin calls come tomorrow.

But in reality, amid the US turmoil, MFS could have be incorrectly read by the market.

This is a real possibility.

You could smell fear in MFS as it traded from 1.00 to 73 cents in the space of a minute.

IF fear sets in again with MFS then we could see further losses.

My research is telling me the story is either mis-read or untold.

Announcement required by MFS to clarify in my opinion.
 
I would prefer to think along the lines you outlined which makes MFS shares a steal at the current SP which may be even lower tomorrow. I will be away most of the day at a cousin's funeral (perhaps people here read about the guy who died after paintballing bucks party in Geelong last weekend - my cousin poor thing). I will have to not think about MFS during the day and won't be able to do anything no matter what happens on the market, bad timing and perhaps for me to stay out of it is the best thing tomorrow.

Good luck everyone !!! Hope it goes up for those holding and selling and down for those buying - and I am in the position of holding and buying ouch

About that dividend they are paying, its been deferred hasn't it and it can still be cancelled. The shares wend ex-dividend a while ago didn't they? Anyone buying them now is not entitled to the latest due dividend I believe? Is that right? this dividend thing is as uncertain as anything else with MFS

Ken said:
MFS are still paying a dividend aren't they????

As far as I can tell nothing has changed?

Just because they are splitting up the company, their forecast for 2008 is still to pay a dividend of 28 cents.

This would be a whooping 28 percent if I am not mistaken.

Could it be that the Centro and Rams home loan debacle has created one of the greatest opportunities to buy MFS at a massive discount to its real value?

There are going to be a heap of margin calls come tomorrow.

But in reality, amid the US turmoil, MFS could have be incorrectly read by the market.

This is a real possibility.

You could smell fear in MFS as it traded from 1.00 to 73 cents in the space of a minute.

IF fear sets in again with MFS then we could see further losses.

My research is telling me the story is either mis-read or untold.

Announcement required by MFS to clarify in my opinion.
Click to expand...
 
The dividend guidance is to pay out 60% of reported net profit after tax.

This has not been changed.

The next dividend is due in march.

I dont understand why a dividend would not be paid, seeing as it has not been mentioned in any of the announcements.

There have been no profit downgrades of any sort.

The market appears to have made assumptions, for better or worse I dont know.

The company must clarify Monday if it has any brains at all.
 
Latest news:

CIY WITHDRAWS MERGER PROPOSAL
City Pacific Limited (ASX: CIY) advises that after reviewing the demerger proposal
announced by MFS Limited (ASX: MFS) on Friday 18 January, it informed Mr King,
CEO of MFS, late on Friday night that it intended to withdraw its merger proposal,
while maintaining an interest in either the business or assets of the MFS financial
services division.
Discussions continued over the weekend and a draft proposal was submitted,
however the parties were unable to reach agreement.
CIY confirms the withdrawal of the original merger proposal.
CITY PACIFIC LIMITED
Phil Sullivan
Managing Director & CEO
 
roland said:
Latest news:
CIY WITHDRAWS MERGER PROPOSAL
Click to expand...

Well, I guess that is not surprising! But that is also not going to do a thing for the well being of the SP and investor confidence in management, which I think is at rock bottom right now.

This stock is seriously in need of some disclosure and transparency - as I have no idea as to how it is travelling!!!

I hold alot of this stock and this represents my single biggest loss in 10 years of trading but IMO unless you have a seriously good risk tolerance (or plenty of capital to play with, I would be waiting for more information on this before assuming it is an absolute bargain.

Of course if anyone wants to buy my shares off me at $3 I'll take offers! (To the gullible out there, I am joking by the way, just to 3) )
 
Trading Halt however i dont see an announcement. Is it just Commsec or is the announcemnet out there?
 
It looks like we're in another trading halt .Hope the outcome is better than last time:eek: ,what more bad news could there be
 
ASX & MEDIA ANNOUNCEMENT
MFS LIMITED – REQUEST FOR TRADING HALT
We request that the ASX grant a trading halt of all MFS Limited’s (“MFS”) securities (ASX codes:
MFS and MFSG) with immediate effect.
The trading halt is requested as MFS is considering unsolicited proposals received last night from
a number of parties in relation to the purchase of a majority interest in Stella as well as a change
in the CEO of MFS.
MFS requests that the trading halt remain in place until the earlier of MFS making a further
announcement in relation to the matters identified above or market open on 23 January 2008.
MFS confirms that it is not aware of any reason why the trading halt should not be granted.

KIM KERCHER
COMPANY SECRETARY
21 January 2008

Also here is a screen shot from my comsec pro trader with the MFS news that has popped up this morning. I hope this helps.
MFS anns.JPG
Cheers:D
 
Well I am kind of glad for the trading halt, as it means I can focus on work with the peace of mind of knowing that at least for two more days my capital is intact!
 
MFS Living and Leisure Group

hey guys, what do we all think will happen here? they are still trading, (MFS lifestyle investment group)
 
Re: MFS Living and Leisure Group

damn!
spoke too soon...

they have just gone in halt aswell, time will tell on these too.

i do not hold, i am interested in buyng a few though.
 
Re: MFS Living and Leisure Group

Nathan_b said:
hey guys, what do we all think will happen here? they are still trading, (MFS lifestyle investment group)
Click to expand...

Why not look at the MSF thread, (unless the moderators have already told you that ). Thereis info there.
 
the 550mill capital raising is set for april/may

their current debt is due in march. $150mill

so the capital raising isnt to HIDE any debt. i personally suspect that its to get capital for when CNP goes into a firesale (If it happens) and then MFS will accumulate cheap properties

but the market thought its to cover debt that they're hiding

MFS has now received a couple new offers. and now its in halt to address that as well as michael king's sacking/resignation

and also the quarterly report comes out on friday to address exactly how much debt they have and their profit projections

all in all i think im much more comfortable in MFS today than i was on friday
 
Announcement out

Michael King resigned as CEO but voluntarily foregone the golden handshake. no financial payout was given to King for leaving his position

Craig White is the new CEO
 
Looks like the fun continues tomorrow when MFS comes out of it's trading halt:banghead: Bring it on.
 
justjohn said:
Looks like the fun continues tomorrow when MFS comes out of it's trading halt:banghead: Bring it on.
Click to expand...
Wouldn't count on that. Possibly a suspension if they have to consider a serious bid on the travel business?
 
if i was MFS i'd go into suspension and hide from this crash as long as possible

them when the waves clear. i come out rejecting all bids on the company and announce that the dividends have not changed and still will be whatever it was
 
I am absolutely horrified of the amount people will lose tomorrow on this stock.

Those who placed bets on close will be terrified.
 
I bought this stock by accident. I had a buy order in one day far below the previous closing price and I was thinking of cancelling it then the stock dived and I found an email that evening advising my purchase. I was horrified then and it has only got worse since then and at least I only have 1,000 shares bought last week and wish I'd never heard of MFS. The news tonight is bad saying they may have to sell Stella at half its value to get urgent cash to save MFS from total ruin. At least it can be saved and may yet live to see a better day. Let us hope so and pray it works out in the long term. Anyway from what I can see on the market lately there is little good news anywhere.

Ken said:
I am absolutely horrified of the amount people will lose tomorrow on this stock.

Those who placed bets on close will be terrified.
Click to expand...
 
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