goldfinger
- 01 Jul 2006 10:55







Worth doing a bit of research on this one. Growing like crazy and is still relatively cheap with a forward P/E of around 13 to the results this year and only 7 for next year.
Plenty of news flow to come and is moving up to the Aim market later this year.
Myhome is an international multi-product franchising company providing home
services such as residential cleaning, lawn care and kitchen and bathroom
resurfacing services. Originally developed by Unilever, the Company was
admitted to Ofex in January 2002. The following year the Company launched its
franchise programme and has identified as many as 300 potential franchise
territories within the UK. Myhome is a member of the British Franchise
Association.
The acquisition from Unilever provided the Company with extensive training
systems, bespoke scheduling and billing software and valuable marketing
materials. In addition it acquired Unilever's unique Tri-Colour Cleaning
system, an efficient home cleaning methodology that was the result of extensive
time-and-motion studies.
Nicenstripy is a South East-based franchise providing residential gardening
services throughout the year. Founded in 1996 Nicenstripy currently has 40
franchisees. Myhome acquired Nicenstripy in two tranches in December 2005 and
April 2006.
Surface Doctor provides a cost effective way to repair and refurbish kitchen
and bathroom surfaces as an alternative to the expense and disruption of
replacement. The system uses a proprietary bonding agent to restore and re-
colour kitchen cabinets, worktops, baths, sinks, tiles, and other surfaces.
Surface Doctor was acquired in February 2006.
Like Myhome, Nicenstripy and Surface Doctor are also associate members of the
British Franchise Association.
Ovenclean is a residential oven cleaning business with 167 franchisees. It
operates both in the UK and internationally. The Board believes that Ovenclean
will immediately benefit from the IT systems, group marketing efforts, and
cross-selling potential of Myhome.
Ovenclean has a database which exceeds 20,000 homes and presents a strong
opportunity to enhance customer spend with other Myhome service offerings. The
Ovenclean franchising business operates on a fixed management fee structure,
which guarantees income growth, irrespective of the underlying franchisees
performance.
www.myhomeplc.com
www.nicenstripy.com
www.surfacedoctor.com
www.ovenclean.com
DYOR.
Cheers GF.
goldfinger
- 01 Jul 2006 10:58
- 2 of 125
From todays Independent...
No Pain No Gain: Myhome looks fit to clean up in domestic market
By Derek Pain
Published: 01 July 2006
Myhome International, the No Pain No Gain portfolio's one and only Ofex-traded constituent, continues to gladden this battered old share tipster. After a commendably cautious time getting its act together, it is now expanding rapidly and emerging as one of the country's biggest and most successful franchise operations.
This week, it announced its most significant deal yet - the 2.5m acquisition of Ovenclean, embracing a spread of 167 franchises and a very impressive profits record. To fund the cash deal - 1.75m down and the rest later - Myhome raised 2.2m through a share placing at 35p. For an Ofex company, it has already achieved a very strong City following that is underlined by over-subscription of the cash call.
The portfolio recruited the shares last year at 15.5p. They are now around 40p. I feel they have further to go and have no plans to lock in profits. But I should emphasise that Myhome is still a relatively small, still largely unproven company. In my view, it has considerable potential and a good infrastructure and management. But, at this stage, the shares are not for the proverbial widows and orphans.
Yet it would, on projected profits, be foolish to regard the shares as pricey. With Ovenclean on board, they would seem to be selling at just more than 13 times this year's earnings and seven times next year's.
Myhome, which has already declared its desire to quit the fringe Ofex market and moving up to the Alternative Investment Market (AIM), has been developed by chief executive Russell O'Connell. He merged his own home cleaning business with a highly researched and computerised rival created by Unilever.
The food-to-soap behemoth abandoned its home-cleaning enterprise during one of those purges that seem to afflict the rich and powerful. Still it allowed O'Connell to inherit an expensive IT system which has provided the back-up for Myhome's advance.
For a time, the company concentrated on domestic cleaning. It now has more than 50 cleaning franchises and, through Nicenstripy, a gardening franchise spread acquired earlier this year, another 42 operatives. Surface Doctor, a bathroom and kitchen refurbishment and repair system, is the baby of the trio.
Recently launched, it is still finding its feet and has just two outlets. The three are enjoying month-on-month growth. With Ovenclean, the group's franchise spread is not far short of 300. The rollout started only 18 months ago.
The expansion will continue. More businesses will be acquired. The group, currently capitalised at around 11m, has made it clear it expects to log on other activities to its computer infrastructure. Another deal is likely in the coming months. O'Connell has his sights set on creating, in the next few years, a multi-franchise conglomerate embracing 10 activities. Electricians and plumbers may be next to enrol.
Certainly Ovenclean, with some 20,000 mainly domestic customers, seems a bargain. Bryan Goozee, who started the business some 14 years ago, is retiring but the family link is preserved with his son, Anthony, who is chief executive. Profits were not far short of 600,000 last year.
As its franchisees pay a regular fixed fee irrespective of trading performance, its income flow is more predictable than the other Myhome divisions, which contribute royalties based on trading. Researcher Equity Development believes Ovenclean will increase its franchise chain to around 300 in the next few years.
Clearly, opportunities for cross-selling the various services have been increased by the acquisition. The deal will also re-enforce Myhome's international aspirations; they already touch Australia and Eire. Spain is now in its orbit.
cheers GF.
goldfinger
- 01 Jul 2006 11:31
- 3 of 125
From Monisha at uq analyst .com
Myhome* announces third acquisition and raises 2.2 million
First home cleaning, then gardens, kitchen surfaces and now ovens. Myhome* has successfully announced its third earnings enhancing acquisition since December 2005 and the completion of an oversubscribed placing. The group set out to raise 2.2 million to fund the purchase of Ovenclean, a residential oven cleaning business bought for 1.75 million. Myhome is rapidly achieving its objective of becoming a multi-brand, multi product franchise platform across the country. The combined group now owns 250 franchisees with over 350 vehicles on the road.
Myhome operates four premium residential services brands - Myhome Clean, Nicenstripy, Surface Doctor and Ovenclean. The fourth and latest addition to the business, owns a franchise network of around 167 franchisees, entering nearly 20,000 homes. The acquisition is expected to be earnings enhancing in the first year. the result of this deal should be to increase earnings forecasts from 2.5p to 3p for the current year to September 30th 2006 and from 3.5p to 5.5p for September 2007. At 40p, our stance remains a buy.
goldfinger
- 01 Jul 2006 11:32
- 4 of 125
Research from Equity development 29/6/2006.......
Myhome International acquisition of Ovenclean Ltd
Myhome has made further significant progress in the development of its multi-brand, multi-product strategy with the earnings-enhancing acquisition of Ovenclean Ltd, the third acquisition made by the company since December 2005. Ovenclean provides an oven cleaning service to upmarket homes, and currently has 167 franchisees with in excess of 20,000 customers between them and is still expanding: in the next financial year we estimate another 48 franchisees could be added. The Ovenclean franchising business operates on a fixed management fee structure, guaranteeing income growth, and the new customer base provides a significant cross-selling opportunity for other Myhome services.
The initial consideration of 1.75m will be funded from the 2.2m raised by the company in an oversubscribed placing of 6.3m new shares at 35p with institutional shareholders, and two further deferred payments of 375k will be paid within the next two years. The remaining funds will be put towards working capital and funding the costs of the planned move to AIM later this year.
Prior to a detailed review with management, we estimate that this acquisition will enhance earnings significantly in the current year to 30 September and on the new number of shares in issue we forecast EPS of 3.0p (compared to 2.5p without the Ovenclean acquisition), and 5.5p v 3.7p to September 2007, assuming a 30% tax rate.
goldfinger
- 02 Jul 2006 12:26
- 5 of 125
Red Hot Penny Shares tip sheet reiterate their Buy this weekend. 100p short term target.
goldfinger
- 03 Jul 2006 11:33
- 6 of 125
Moving up nicely this morning.
CRITCH16
- 03 Jul 2006 11:38
- 7 of 125
Goldfinger new to this game but learning fast, read lots about short/med/long term but what exactly is the timescale for each classification?
ta
goldfinger
- 03 Jul 2006 11:51
- 8 of 125
Critch it really depends on which broker tipster as recommended the stock but in this case I beleive short term means up to a year.
I beleive 6 months would be more appropriate in the case of this stock as it moves over onto aim before the year is out and will be exposed to more institutions who will buy in big time.
It really does look like a fine growth stock.
Well worth reading the full broker report produced earlier this year, 11 page document.
I will try and find it and post it for you.
By the way RHPS says the company is moving into plumbing and carpet cleaning.
cheers GF.
goldfinger
- 03 Jul 2006 11:59
- 9 of 125
Heres the broker report I was refering to, please remember its a little out of date and forecast are now higher.
http://www.equity-development.co.uk/client/view.php?docid=243&newsletterid=
cheers GF.
CRITCH16
- 03 Jul 2006 12:20
- 10 of 125
Thanks GF much appreciated.
goldfinger
- 03 Jul 2006 13:05
- 11 of 125
CRITCH16
- 03 Jul 2006 14:26
- 12 of 125
lol GF your distracting me from my work lol. Infact good idea is scorching and im in an office. Certainly worth investing i fancy waiting for a blip tho, do you envisage one in the near future?
Many thanks
goldfinger
- 03 Jul 2006 15:34
- 13 of 125
Critchy,You cant really tell with the markets having been so volatile of late in general but this doesnt seem to affect the Ofex market like the major markets.
I personally think that there is much more news flow to come from this one over the next 6 month so you could miss the boat eg, trading updates abroad could be very much on the horizon.
Im personally adding all the way up to hopefully 70p over the next few months. In fact I might be adding a few more in the next couple of days if MMG go on a spurt and I can flog a few of my cheapo tranches.
cheers GF.
cheers GF.
CRITCH16
- 03 Jul 2006 16:39
- 14 of 125
Yes ive been desperate to lop COP myself its going nowhere the now eversince the Iraq thing simply died of being over ramped. Thanks for your help and knowledge its much appreciated.
Kind Regards
goldfinger
- 03 Jul 2006 23:35
- 15 of 125
No problems Critchey, Ive been in this business now for 23 years and I used to get help at the beginning. Im now just short of 40 but I still beleive theres plenty to learn.
In fact in this business its an ongoing thing and I notice you say you are fairly new.
I would advise you to learn as much as possible from the Greats of the past.
Read as many best sellers as possible. ' One Foot Up On Wall Street' is a stonking read from probably the best fund manager in history. (forgotten his name now, although hes a genious and the book is only about a tenner)
Also Warren Buffet is a good read but he can get a bit boring.
Charts yes get to know them but dont for gods sake rely on them like some do. Theres a differencwe between price and value.
Cheers GF.
goldfinger
- 03 Jul 2006 23:36
- 16 of 125
No problems Critchey, Ive been in this business now for 23 years and I used to get help at the beginning. Im now just short of 40 but I still beleive theres plenty to learn.
In fact in this business its an ongoing thing and I notice you say you are fairly new.
I would advise you to learn as much as possible from the Greats of the past.
Read as many best sellers as possible. ' One Foot Up On Wall Street' is a stonking read from probably the best fund manager in history. (forgotten his name now, although hes a genious and the book is only about a tenner)
Also Warren Buffet is a good read but he can get a bit boring.
Charts yes get to know them but dont for gods sake rely on them like some do. Theres a differencwe between price and value.
Cheers GF.
goldfinger
- 03 Jul 2006 23:41
- 17 of 125
Have to say I just love this stock It reminds me of when I piled into Sporting Bet at 7p a share(on Ofex) and added all the way up to 19.5p and I havent sold one........NICE.
I beleive long term this one will be even better.
goldfinger
- 04 Jul 2006 01:11
- 18 of 125
very very bullish on this one.
goldfinger
- 04 Jul 2006 14:41
- 19 of 125
Looks like all buys to me today. One big purchase and we could be through 50p.
CRITCH16
- 04 Jul 2006 16:07
- 20 of 125
GF thanks for the book advice i am currently reading one by Peter Bernstein- Against the Gods- the remarkable story of risk -i suggest you read it if you havent already, although not on shares it has allowed me to define my risk profile and is also a great read.
Im struggling to generate target prices for things, i dont want to be too greedy then again i want as close to the maximum upside as i can so where will MYH be in a years time and do you have any targets or milestones for this? Im quite happy to take 100% and run to clear some of my debts!!!
PS you have an e-mail
goldfinger
- 05 Jul 2006 10:20
- 21 of 125
Critchy, click on my envelope at the side of my name, you can send me a private message there. Make sure yours is activated though to receive a reply.
Never really go for this price targeting thing as Im usually a long termer and as long as the stock remains cheap (and a trend moving up) ie, a reasonable P/E ratio I remain with it no matter what the SP on the market as at some time a re rating would occur if the stock was too cheap.
Im not a big TA fan where they normally just look at the ongoing price and take no account as to wether the stock represents good value.
cheers GF.
goldfinger
- 05 Jul 2006 11:04
- 22 of 125
Last (excelent ) results...
Myhome International plc - INTERIM RESULTS AND PROPOSED MOVE TO AIM
23 MAY 2006
MYHOME INTERNATIONAL PLC
(OFEX: MYH)
("MYHOME" OR THE "COMPANY")
PROPOSED MOVE TO AIM
AND
INTERIM RESULTS
PROFITS DOUBLE AS RAPID EXPANSION CONTINUES
Myhome, one of the UK's leading franchisors of residential services, is pleased
to announce its interim results for the six month period to 31 March 2006.
These results reflect a significant rise in network turnover, profit before tax
and EPS, and mark the Company's first reported results as an international
multi-product residential franchise operation.
FINANCIAL HIGHLIGHTS
* Profit before tax up 285% to GBP278,663 compared to GBP72,335 for the same
period last year and GBP176,992 for the year ended 30 September 2005;
* Network turnover up 319% to GBP3,150,875 (six months to 31 March 2005:
GBP752,000);
* Basic Earnings per share up 69% to 1.02p (six months to 31 March 2005:
0.604p);
* International Master Franchise programme launched in Ireland - setting
blueprint for further expansion;
* Brand expansion strategy launched with the acquisitions of Nicenstripy and
Surface Doctor; and
* Closing in on the 100th group franchise (at 31 March 2006: 85 compared to
31 March 2005: 19).
POST BALANCE SHEET HIGHLIGHTS
* Announcement of intention to move to the Alternative Investment Market
("AIM") before the end of the calendar year;
* Myhome Master Franchise awarded in Scotland - generating a fee of
GBP150,000 in the second half of the current financial year; and
* Australian office launched, commencing the global expansion of the Myhome
brand name, with first franchise awarded.
Commenting on today's announcement, Russell O'Connell, Chief Executive said:
"WE ARE DELIGHTED THAT THE INTERIM RESULTS ARE BEGINNING TO REFLECT THE IMPACT
OF THE ACQUISITION STRATEGY ON THE GROUP. THIS IS OUR FIRST REPORT AS AN
INTERNATIONAL MULTI-PRODUCT FRANCHISE OPERATION, HAVING ACQUIRED NICENSTRIPY
AND SURFACE DOCTOR IN THE PERIOD. WE ARE ACTIVELY LOOKING TO EXPAND OUR
PORTFOLIO OF SERVICES IN THE COMING MONTHS. ALSO, OUR EXISTING FRANCHISEES
CONTINUE TO GROW IN LINE WITH OUR EXPECTATIONS, WITH PLENTY OF SCOPE FOR
FURTHER FRANCHISE AWARDS, BOTH IN THE UK AND OVERSEAS."
"THE COMPANY IS ALSO PLEASED TO ANNOUNCE ITS INTENTION TO MOVE TO AIM BEFORE
THE END OF THE YEAR. OFEX HAS BEEN FANTASTIC FOR MYHOME IN TERMS OF ACCESSING
CAPITAL AND BROADENING OUR PROFILE, BUT WE BELIEVE TIME HAS COME TO TAKE THE
NEXT STEP IN OUR DEVELOPMENT."
The Directors of the issuer accept responsibility for this announcement
---ENDS---
ENQUIRIES:
MYHOME INTERNATIONAL PLC TEL: 08450 668 866
Russell O'Connell, Chief Executive TEL: 07801 064 905
NOBLE & COMPANY LIMITED TEL: 020 7763 2200
Nick Naylor
BISHOPSGATE COMMUNICATIONS LIMITED TEL: 020 7430 1600
Maxine Barnes
Nick Rome
CHAIRMAN'S STATEMENT
The Board is pleased to announce that the Company has achieved an interim
profit on ordinary activities for the half year to 31 March 2006 of GBP278,663,
up three-fold from the maiden profit of GBP72,335 for the same period to 31
March 2005. The increase in number of franchise operations, bolstered by the
acquisitions of Nicenstripy and Surface Doctor, has increased the network
turnover to GBP3,150,875 (2005: GBP752,000).
The Company has continued the expansion of its franchise network, with 85
franchises in place as at 31 March 2006. We look forward to welcoming our 100th
group franchise in the coming months.
The Company today announces that it intends to move to AIM before the end of
the current year and is also working with its advisers, Noble & Company
Limited, on the best way to achieve this.
In closing, I would like to thank all shareholders and staff for their
continued support during an extremely busy time for the Company.
SIMON MCNEILL-RITCHIE
CHAIRMAN
CHIEF EXECUTIVE'S REPORT
This is our first report as a multi-branded, multi-product international
residential franchise operation, following the acquisitions of Nicenstripy and
Surface Doctor and the launch of the International Master Franchise Programme
in Ireland and Scotland. These deals provide a blue-print for further
international opportunities, with discussions in a number of countries about
further Master Franchises underway.
The business already has a strong infrastructure in place, providing firm
foundations for further development of the Company as a residential
franchising Company. This growth will be both organic and by acquisition. Our
numbers are particularly satisfying considering that the first half of our year
has incurred the set-up costs for Surface Doctor as well as most of our
marketing spend for the year, including the Franchise Exhibitions we have
attended in Birmingham, Manchester, London and Belfast. The leads generated at
these events form the basis for our franchise sales throughout the financial
year.
Our systemised format enables us to acquire other franchise businesses, that
will benefit from the centralised hub of support structures (IT, marketing,
accountants), whilst retaining their corporate identity and core management.
Further acquisitions that would fit into our existing residential product range
could include: carpet cleaning, oven cleaning, roofing, painting, plumbing,
electrical services, dry cleaning, security and many more. We are in various
stages of negotiations with a number of companies to acquire them, and we look
forward to making further announcements in due course.
CONCLUSION
Myhome is now established as a multi-franchise service group, with expansion
possibilities both organically and by acquisition, and both nationally and
internationally. There is clear potential to maintain this level of expansion
on all fronts, and I would like to thank our staff, franchise partners and
shareholders for their continued support in making this happen.
The move to AIM is now appropriate for the Company. Myhome was the heaviest
traded stock on Ofex in 2005, and has successfully raised initial institutional
funds whilst on the market. I would like to thank Simon Brickles and the Ofex
team for their support over the past years.
Trading continues in line with the Board's expectations and we look forward
with confidence to the future.
RUSSELL O'CONNELL
CHIEF EXECUTIVE
MY HOME INTERNATIONAL PLC
UNAUDITED INTERIM RESULTS
SIX MONTHS ENDED 31 MARCH 2006
UNAUDITED UNAUDITED AUDITED
6 MONTHS 6 MONTHS 12 MONTHS
TO TO TO
31 MAR 31 MAR 30 SEPT
2006 2005 2005
GBP '000 GBP '000 GBP '000
NETWORK TURNOVER 3,151 752 3,182
--------------------------------
CONTINUING OPERATIONS REVENUE 1,202 322 897
Cost of Sales (345) (119) (241)
--------------------------------
Gross profit 857 203 656
Other operating income - - -
Admin Expenses (579) (133) (483)
Profit from Operations 278 72 174
Investment Income 3 1 7
Finance Costs (3) (2) (4)
--------------------------------
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAX 278 71 177
Taxation (30) 30 213
--------------------------------
PROFIT/(LOSS) FROM CONTINUING 248 101 390
OPERATIONS
--------------------------------
ATTRIBUTABLE TO:
Equity Holders 248 101 390
Minority Interests - - -
--------------------------------
248 101 390
--------------------------------
EARNINGS PER SHARE
Basic 1.02p 0.604p 1.84p
Diluted 0.995p 0.520p 1.59p
--------------------------------
NOTES TO EDITORS
Myhome is an international multi-product franchising company providing home
services such as residential cleaning, lawn care and kitchen and bathroom
resurfacing services. Originally developed by Unilever, the Company was
admitted to Ofex in January 2002. The following year the Company launched its
franchise programme and has identified as many as 300 potential franchise
territories within the UK. Myhome is a member of the British Franchise
Association.
The acquisition from Unilever provided the Company with extensive training
systems, bespoke scheduling and billing software and valuable marketing
materials. In addition it acquired Unilever's unique Tri-Colour Cleaning
system, an efficient home cleaning methodology that was the result of extensive
time-and-motion studies.
Nicenstripy is a South East-based franchise providing residential gardening
services throughout the year. Founded in 1996 Nicenstripy currently has 40
franchisees. Myhome acquired Nicenstripy in two tranches in December 2005 and
April 2006.
Surface Doctor provides a cost effective way to repair and refurbish kitchen
and bathroom surfaces as an alternative to the expense and disruption of
replacement. The system uses a proprietary bonding agent to restore and re-
colour kitchen cabinets, worktops, baths, sinks, tiles, and other surfaces.
Surface Doctor was acquired in February 2006.
Like Myhome, Nicenstripy and Surface Doctor are also associate members of the
British Franchise Association.
www.myhomeplc.com
www.nicenstripy.com
www.surfacedoctor.com
CRITCH16
- 05 Jul 2006 11:21
- 23 of 125
Thanks GF, i am activated on the private message just to save destroying your wonderful thread here (mind you im sure we will look back in a few years to come with a few more pennies) are you sure your not Warren Buffet in disguise lol?? Im more of a mystec meg septic peg type lol.
With regards One foot up on Wall street can you remember the author now, i cant find the book anywhere although will read up on Buffet for my SIPP which i aim to be undertaking when the time arises for me to research up on it. Peter Berstein is a cracking read.
Let me know if you dont have my message
goldfinger
- 05 Jul 2006 23:24
- 24 of 125
Here it is critchy, Ill get your PM in the morning too bloody hot and sweaty here in West Yorkshire, I just want to drink or sleep at the moment, worse than when I recently went to Vietnam.
Heres the book and author....
One Up On Wall Street
How To Use What You Already Know to Make Money in the Market
by Peter Lynch and John Rothchild
Publisher: Simon & Schuster
Published: 2000
Edition: 2nd
Format: Pb Our price 8.49
Normal price 9.99
You save 1.50 (15%)
In stock, usually dispatched within 24 hours
global investor.com
Hope that helps, and its a beaut of a book.
cheers GF.
goldfinger
- 06 Jul 2006 12:11
- 25 of 125
A pull back this morning, time for those who missed the boat first time to get on board. I added again yesterday.
CRITCH16
- 06 Jul 2006 13:54
- 26 of 125
Thanks for the above GF, can you tell im now invested in this? Would you like me to buy more to let you average down further lol? Office is sizzling material here to........ and im further north!!!!
goldfinger
- 07 Jul 2006 12:50
- 27 of 125
Theyve just ticked UP...Nice.
Hope its not too hot critchy in that office. Im just going for a few pints of cool stella.
CRITCH16
- 07 Jul 2006 14:16
- 28 of 125
Stella GF, your showing your age lol i cant get off the Magners myself indeed the student days of Cider and Blackcurrant are not past for me . I am feeling very bullish for HML and RGT hope i am not wrong, wish i had some money to top up but as you say sit tight to my strategy.
goldfinger
- 07 Jul 2006 23:02
- 29 of 125
Its been a really good afternoon for My Homes. Looks like all buys and some big ones aswell, im suprised the price hasnt moved further up.
goldfinger
- 11 Jul 2006 14:37
- 30 of 125
Nudged up this afternoon. Drat I was hoping to get them a little cheaper on my next purchase.
goldfinger
- 12 Jul 2006 11:50
- 31 of 125
Further good news this morning...
Myhome International plc - Nicenstripy awarded ISO 9001 status
12 JULY 2006
MYHOME INTERNATIONAL PLC
(OFEX: MYH)
("MYHOME" OR THE "COMPANY")
NICENSTRIPY AWARDED ISO 9001 STATUS
Myhome, one of the UK's leading providers of franchised residential services,
is pleased to announce the award of ISO 9001 status to Nicenstripy - the garden
maintenance division of the group.
ISO 9001 is the most commonly used international standard of quality assurance
that provides a framework for an effective quality management system. The
system should ensure consistency and improvement of working practices, which in
turn should provide products and services that meet customer's requirements.
The driver for seeking ISO 9001 registration was that the key potential
national contracts, specifically local government bodies, specified it as a
condition of contract for the provision of services under the Government's
Compulsory Competitive Tendering legislation.
NICK PEARCE, CEO OF NICENSTRIPY, SAID: "THIS AWARD NOW ENABLES US TO TARGET A
FURTHER AREA OF GROWTH FOR OUR FRANCHISEES. WE ARE NOW ABLE TO TENDER FOR
NATIONAL CONTRACTS, WHICH, IF WON, COULD SIGNIFICANTLY ENHANCE OUR NETWORK
TURNOVER. COUNCIL-RUN PARKS, PLAYING FIELDS AND OTHER "GREEN" AREAS COULD NOW
BECOME NICENSTRIPY".
Myhome is a multi-product multi-branded franchise operator, specialising in the
provision of premium residential services, with its franchisee network of over
250 outlets. Myhome currently provides four key residential services: cleaning,
garden maintenance, kitchen/bathroom resurfacing and specialist oven cleaning
via the group's Myhome Clean, Nicenstripy, Surface Doctor and Oven Clean brands
respectively. The Company has announced its intention to move to AIM before the
end of 2006.
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
goldfinger
- 21 Jul 2006 11:38
- 32 of 125
Superb new note out from the Broker today. This really is one of my all time favourite stocks. New target price 80p.
http://www.equitydevelopment.co.uk/client/view.php?docid=268&newsletterid=
goldfinger
- 21 Jul 2006 14:45
- 33 of 125
Watch out next week for reviews of this stock.
Presently we have,
shares mag
investors chronicle
red hot penny shares
guardian
watshot
plus others covering. So the excelent review and upgrade from the broker today should provide plenty of ammunition for further price rises.
goldfinger
- 14 Aug 2006 11:59
- 34 of 125
Another bolt on with further issue of new shares at a lower price than the present market SP..............
Myhome International plc - Acquisition of Autosheen Limited
14 AUGUST 2006
MYHOME INTERNATIONAL PLC
(OFEX: MYH)
("MYHOME" OR THE "COMPANY")
ACQUISITION OF AUTOSHEEN LIMITED
Myhome, one of the UK's leading providers of franchised service operations, is
delighted to announce it has acquired the entire share capital of Autosheen
Limited, in a deal worth GBP500,000.
ACQUISITION HIGHLIGHTS
* Autosheen is a leading, established franchise brand operating a national
car valeting network, and is a former winner of the Franchisor of the Year
Award.
* Myhome to acquire Autosheen for an initial payment of GBP200,000,
satisfied by the issue of 439,900 new ordinary shares in the Company at
45.465p per share;
* A further payment of GBP150,000 will be made in August 2007 and a final
payment of GBP150,000 will be made in August 2008. Both deferred payments
will be effected by the issue of shares at the prevailing market price at
time of issue;
* Autosheen is the Company's fourth acquisition since December 2005 and
continues its multi-brand strategy of growing its residential services
offering;
* Myhome will now operate five premium residential services brands: Myhome
Clean; Nicenstripy, Surface Doctor; Ovenclean and Autosheen; and
* Autosheen has contracts to provide valeting solutions to some of the
UK's largest vehicle fleets, such as Royal Mail, HM Revenue & Customs and
Inchcape and has recently secured a contract providing its services to a
major insurance company, which is offering vehicle valeting to its 750,000
policy holders.
Autosheen is a leading car valeting service francise, with 15 operatives
currently in the UK. The car valeting provided involves a number of Autosheen
branded products and has been tested to bring out the best in paintwork,
leather, vinyl, glass and upholstery. The fully trained and insured operatives
use these specialist products to protect the interior, U.V. block to protect
the paint, use a number of deodorisers to give the vehicle a "showroom"
freshness, and have an eco-friendly waterless valet solution.
In addition to the franchisees' own marketing efforts, Autosheen has also
secured contracts to provide valeting solutions to some of the UK's largest
vehicle fleets. Its client portfolio includes ARVAL, Inchcape Fleet Solutions,
Velo Leasing, The Royal Mail and all Government Departments from HM Revenue &
Customs to the Department of Work and Pensions. Some of these clients have the
largest fleets of vehicles in Europe. Recently, Autosheen secured a
contract providing its services to a major insurance company, which is offering
vehicle valeting to its 750,000 policy holders.
Peter Butler, CEO of Autosheen, has over 30 years of experience in the motor
industry, having directly qualified in Automotive Refinishing with a five year
Apprenticeship. He has the benefit of having worked for several years with ICI
refinish Support Services across Europe, and was awarded a fellowship with the
Institute of Motor Industry in 2004.
The transaction comprises an initial consideration of GBP200,000, which has
been satisfied by the issue of 439,900 new ordinary shares in the Company at
45.465p per share. Subject to a number of conditions, a further payment of
GBP150,000 will be made in August 2007 and a final payment of GBP150,000 will
be made in August 2008. Both these deferred payments will be effected by the
issue of shares at the prevailing market price at time of issue. The total
number of shares in issue now stands at 34,626,269.
Russell O'Connell, CEO of Myhome International plc, said: "AUTOSHEEN IS THE
LATEST ADDITION TO OUR PORTFOLIO OF `BEST OF BREED' FRANCHISE OPERATIONS.
AUTOSHEEN HAS ALL THE ESSENTIAL INGREDIENTS TO BECOME A SIGNIFICANT CONTRIBUTOR
TO THE MYHOME GROUP: A STRONG, ESTABLISHED BRAND; A PRODUCT RANGE WITH RETAIL
POTENTIAL; NUMEROUS NATIONAL CONTRACTS; AND A CORE FRANCHISE NETWORK THAT WE
CAN EXPAND BOTH NATIONALLY AND INTERNATIONALLY. PETER BUTLER IS A CEO KEEN TO
MAXIMIZE THE BENEFITS THAT BEING PART OF MYHOME CAN BRING TO AUTOSHEEN, WHILST
HE HIMSELF CAN BRING HIS EXPERTISE TO THE WIDER GROUP. WE NOW LOOK FORWARD TO
OUR STEP UP TO AIM LATER THIS YEAR WITH FIVE STRONG BRANDS, A CLEAR GROWTH
STRATEGY AND SIGNIFICANT FINANCIAL SUPPORT. IT IS A VERY EXCITING TIME FOR US."
Peter Butler, CEO of Autosheen, noted: "I AM DELIGHTED TO BE JOINING THE MYHOME
GROUP OF FRANCHISE COMPANIES. THE COMBINATION OF THE AUTOSHEEN BRAND AND THE
PROVEN ABILITY OF THE MYHOME TEAM TO ACCELERATE FRANCHISE RECRUITMENT WILL
ENABLE US TO SERVICE MORE CUSTOMERS, PARTICULARLY THE NATIONAL CONTRACTS WHERE
WE NEED A LARGER NETWORK TO KEEP PACE WITH DEMAND."
The Directors of the Issuer accept responsibility for this announcement.
goldfinger
- 17 Aug 2006 14:22
- 35 of 125
A good write up from Monisha at UQ.com, boy does that babe know her stuff.......
Myhome* - Acquisition of Autosheen
Myhome*, the provider of franchised home services, has completed its fourth acquisition in the form of Autosheen Limited for 500,000. Autosheen is an established franchise brand operating a national car valeting network. It currently has 15 operatives in the UK, bringing out the best in leather, vinyl, glass and upholstery. Its fully trained and insured operatives use specialist products to protect the interior, UV block to protect the paint, deodorisers to give the vehicle a 'showroom freshness', and have an eco-friendly waterless valet solution.
Further to the franchisees' own marketing efforts, Autosheen has secured contracts to provide valeting solutions to some of the UK's largest vehicle fleets. Its clients include ARVAL, Inchape Fleet Solutions, Velo Leasing, The Royal Mail and all government departments from HM Revenue & Customs to the Department of Work and Pensions. Some of these clients have the largest fleets of vehicles in Europe. Recently, Autosheen secured a contract with a major insurance company offering vehicle valeting to its 750,000 policy holders.
Peter Butler, CEO of Autosheen, has over 30 years of experience in the motor industry, having directly qualified in Automotive Refinishing with a five year Apprenticeship. He has the benefit of having worked for several years with ICI refinish Support Services across Europe, and was awarded a fellowship with the Institute of Motor Industry in 2004.
The deal is for 200,000 initially, which was satisfied by the issue of 440,000 new Myhome shares at 45.465p each. Two further payments of 150,000 will be made in August 2007 and August 2008 subject to certain conditions. Autosheen has the potential to become a strong contributor to the Myhome group. It has a strong brand name, a product range with retail potential, numerous national contracts, and a core franchise network that can be expanded both nationally and internationally. The purchase puts Myhome in a strong position when it moves to AIM later this year, with five successful brands under its belt, a clear growth strategy and significant financial support. In the year to September we are looking for earnings of at least 3p, rising to 6.8p in 2007 and 13.5p in 2008. At 42.5p, Myhome trades on a lowly 2007 rating of 6.3 falling to 3.1 in 2008 but we expect a significant re-rating once it achieves its AIM listing. We expect the rapid growth of Myhome to continue with its keen eye for decent acquisitions and fast growing brand awareness. BUY.
goldfinger
- 04 Sep 2006 12:33
- 36 of 125
As to be one of my favourite company purchases of all time. Building and buying more and more here.
I maybe wrong but I feel this one as tremendous potential and anyone wanting to get in before the aim flotation now would be a good time to do the research.
At 41.5p, myhome trades on a lowly 2007 rating of 6.3 falling to 3.1 in 2008 but I expect a significant re-rating once it achieves its AIM listing.
goldfinger
- 14 Sep 2006 14:44
- 37 of 125
Myhome International plc select Overview Profile Contacts Reports & Accounts Offerings News Market Data Charts
News
Myhome International plc - Myhome to Attend National Franchise Exhibition
14 SEPTEMBER 2006
MYHOME INTERNATIONAL PLC
(OFEX: MYH)
("MYHOME" OR THE "COMPANY")
MYHOME TO ATTEND NATIONAL FRANCHISE EXHIBITION
Myhome, one of the UK's leading providers of franchised service operations, is
pleased to announce that the Company will be exhibiting at the National
Franchise Exhibition - the UK's largest franchise exhibition held at the
Birmingham NEC on Friday 6 and Saturday 7 October.
The National Franchise Exhibition is the focal point of National Franchise
Week, which aims to raise awareness of franchising as a successful business
model. The exhibition provides the perfect opportunity for Myhome to meet
potential investors and franchisees as it continues to grow its network, which
including international operations and recent acquisitions is now pushing
towards 300 franchisees.
Myhome now has five brands: Myhome Clean, Nicenstripy, Surface Doctor, Oven
Clean and Autosheen, and now has operations in the UK, Australia and Ireland.
Russell O'Connell, CEO of Myhome, says: "WE ARE DELIGHTED TO HAVE THIS
OPPORTUNITY TO MEET INVESTORS AND FRANCHISEES AND DISCUSS THE MYHOME STORY.
THIS WILL BE A VALUABLE OPPORTUNITY TO FURTHER ENHANCE THE COMPANY'S PROFILE AS
OUR GEOGRAPHIC REACH AND NUMBER OF FRANCHISEES CONTINUES TO GROW AT PACE. THIS
EXHIBITION IS ALWAYS WELL ATTENDED AND WILL PROVIDE A SPRINGBOARD FOR ALL OUR
FRANCHISE RECRUITMENT EFFORTS AS WE BEGIN OUR NEXT FINANCIAL YEAR.
"FRANCHISING IS NOW A RECOGNIZED BUSINESS MODEL AND THIS EXHIBITION WILL BE
USEFUL FOR ANYONE HOPING TO PARTICIPATE IN THE GROWING TREND TOWARDS
FRANCHISING. MYHOME'S SUCCESS IS REFLECTED BY ITS RAPID GROWTH. WE LOOK FORWARD
TO GROWING THE COMPANY'S PROFILE FURTHER AHEAD OF THE PLANNED MOVE TO AIM LATER
THIS YEAR."
For a complimentary ticket to the Exhibition, please contact the marketing team
at Myhome on info@myhomeplc.com to secure a place. Alternatively visit
www.franinfo.co.uk for more information on this and future franchise events.
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
ENQUIRIES:
MYHOME INTERNATIONAL PLC TEL: 08450 668 866
Russell O'Connell, Chief Executive
goldfinger
- 25 Sep 2006 10:18
- 38 of 125
Good news this morning. That move to Aim cant be far away......
Myhome International plc - Notice of AGM and EGM
25 SEPTEMBER 2006
MYHOME INTERNATIONAL PLC
(PLUS: MYH)
("MYHOME" OR THE "COMPANY")
NOTICE OF AGM AND EGM
Myhome, the provider of franchised home service operations, announces that it
has today posted its 2005 Report and Accounts to shareholders and has also sent
a notice convening its annual general meeting ("AGM") for 10:00am on Wednesday,
18 October. The AGM is to be held at the offices of Noble & Company Limited,
5th Floor, 120 Old Broad Street, London EC2N 1AR. At the AGM Myhome's
shareholders will be asked, inter alia, to receive and adopt the Company's
annual accounts for the year ended 30 September 2005 and to reappoint certain
directors of the Company who retire and offer themselves for re-election in
accordance with the Company's Articles of Association.
In addition to sending the notice of AGM to shareholders today, Myhome is also
sending shareholders a circular (the "Circular") containing notice convening an
extraordinary general meeting ("EGM") for the same day. At this meeting
shareholders will be asked to approve certain matters relating to the Company's
anticipated move to AIM later in 2006. These include: granting the Directors
authority to allot relevant securities pursuant to Section 80 of the Companies
Act 1985; granting the Directors authority to allot equity securities free from
pre-emption rights pursuant to Section 95 of the Companies Act 1985; and
adopting new articles of association which are appropriate for a company listed
on AIM. Further information on the resolutions are set out in the Circular.
The EGM shall take place at 10:15am on Wednesday, 18 October, or if later,
following completion of the AGM.
The Board hopes that as many shareholders as possible will be able to attend
shareholder meetings.
The Company continues to position itself ahead of the planned move to AIM later
this year. The Board believes that the move will enable Myhome to build further
on the rapid growth that it has demonstrated in recent years and also believes
that this is the natural step for the Company at this stage of its development
and growth.
Copies of the Report and Accounts and the Circular are available at Myhome's
offices at 119 Richmond Road Kingston-upon-Thames, KT2 5BX during normal
business hours.
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
ENQUIRIES:
MYHOME INTERNATIONAL PLC TEL: 08450 668 866
Russell O'Connell, Chief Executive TEL: 07801 064 905
goldfinger
- 26 Sep 2006 02:38
- 39 of 125
UQA 18th September write up:
Myhome* announces new master franchise win
Myhome* has announced that it has awarded a master license agreement in Australia. This is clearly a step ahead towards increased profitability and growth. The master license agreement is expected to generate an initial fee of AUD$1,000,000. It is expected that this will have a major impact to the strengthening of the company's brand and should add to a very valuable network of high calibre partners. This is the third international license Myhome has been awarded, following sales in Scotland and Ireland. Furthermore, the number of sub - licenses expected to be awarded, is expected to reach a minimum of 100 across Australia and other countries in three years' time.
The company's shares trade at 42.5p and the stock is currently valued at 14.72 million. It trades on a historic price earnings ratio of 23. Analysts set a target price of around 68-70p and the increasing visibility of strong revenue and earnings growth makes this target look more than plausible. Our stance remains unchanged. Buy.
M
--------------------------------------------------------------------------------
posted 25-09-2006 10:41
goldfinger
- 18 Oct 2006 13:32
- 40 of 125
Myhome International plc select Overview Profile Contacts Reports & Accounts Offerings News Market Data Charts
News
Myhome International plc - Result of AGM and EGM and AGM Statement
18 OCTOBER 2006
MYHOME INTERNATIONAL PLC
(PLUS: MYH)
RESULT OF AGM AND EGM
AND AGM STATEMENT
The Directors of Myhome International Plc ("Myhome" or the "Company") are
pleased to announce that at the Company's AGM and EGM, held earlier today, all
the resolutions were duly passed.
Chairman Simon McNeill Ritchie made the following comments: "MYHOME HAS HAD AN
EXTREMELY SUCCESSFUL PERIOD AND WE LOOK FORWARD TO PURSUING OUR BUY AND BUILD
BRAND EXPANSION STRATEGY. WITH THE MOVE TO AIM BEFORE THE YEAR END, WE BELIEVE
WE ARE WELL POSITIONED TO TAKE ADVANTAGE OF THE INCREASED PROFILE A LISTING ON
LONDON'S JUNIOR MARKET AFFORDS.
"WE HAVE RECENTLY AWARDED OUR LANDMARK 300TH FRANCHISE AND ARE CONFIDENT OF
FURTHER AGREEMENTS IN THE NEAR FUTURE. MYHOME EXHIBITED AT THE NATIONAL
FRANCHISE EXHIBITION, WHICH PROVIDED THE PERFECT OPPORTUNITY FOR THE BOARD TO
MEET POTENTIAL INVESTORS AND FRANCHISEES. AS A RESULT OF THE SHOW, WE ARE
WORKING ON OVER 300 NEW FRANCHISE LEADS AND HOPE TO CONVERT THEM TO ACTIVE
BUSINESSES OVER THE COMING MONTHS.
"THE COMPANY HAS MADE A NUMBER OF ACQUISITIONS OVER THE PAST YEAR, GREATLY
EXPANDING MYHOME'S SERVICE OFFERING. WE HAVE BEEN BUSY BUILDING ON THE STRENGTH
OF THESE NEW OPERATIONS AND ARE ACTIVELY INVESTIGATING TARGETING OTHER
BUSINESSES THAT WOULD PROVE TO BE COMPLEMENTARY TO MYHOME'S STRATEGIC GROWTH
PLAN.
"THE BOARD HAS ALSO SIGNIFICANTLY DEVELOPED THE MASTER FRANCHISE PROGRAMME,
LAUNCHED IN FEBRUARY. MYHOME NOW HAS THREE INTERNATIONAL LICENCES IN OPERATION
IN SCOTLAND, IRELAND AND AUSTRALIA FOR THE MYHOME CLEAN BRAND AND IS PLEASED
WITH THEIR PROGRESS TO DATE.
"I AM DELIGHTED WITH THE PROGRESS THAT MYHOME HAS MADE AND I LOOK FORWARD TO A
SUCCESSFUL AIM LISTING BEFORE THE END OF THE YEAR AND WILL UPDATE THE MARKET ON
ANY FURTHER DEVELOPMENTS IN DUE COURSE."
---ENDS---
goldfinger
- 19 Oct 2006 13:46
- 41 of 125
MyHome selected just now on Tom Winnifrith's Trading Places Show. It was the contestant's choice but supported by Tom.
moneyplus
- 19 Oct 2006 20:59
- 42 of 125
what a boring show! You really have to be determined to last the whole show. Good idea but needs an injection of charisma etc.
goldfinger
- 20 Oct 2006 02:55
- 43 of 125
Upbeat AGM statement from Myhome*
Myhome International* told its annual general meeting on Wednesday that it was still set on an AIM listing before the year end. The company also recapped on its achievements over the past 12 months. It has established its master franchise program with 3 international licenses in Scotland, Australia and Ireland. It is considering a few more acquisitions and currently has 300 franchisees. After the participation of the company at the recent franchise exhibition, Myhome says that it is working on a further 300 new franchisees and that it hopes it will turn them into businesses in the near future.
Listed on Ofex in 2002, Myhome has a track record for delivering superb profits growth and its shares have risen from 7.75p when we first spotted the stock to 43.5p today. It is definitely one of the best followed companies on Ofex and its history and business model are familiar to most of us. We expect earnings per share of 6.5p for calendar 2006, rising to - at least - 13.5p in 2007. On a 2007 price earnings ratio of less than 3 the shares remain a buy.
stockdog
- 20 Oct 2006 11:15
- 44 of 125
goldfinger - many thanks for setting up and maintaining this thread single-handedly. I've dipped in today after reading through all your excellent posts and Edison's latest report - ticks all the boxes and it's been a nice quiet buying period.
Very much looking forward to a gear change (of what magnitude do you reckon) as we transfer from Ofex to AIM. Fundamentals are terrific all round and quality if operations, acquisitions and managemment seem very good.
One question I have not found an answer to yet - which director hold how many shares and are there any other significant shareholders. Your help on this would be much appreciated.
Thanks again
sd
goldfinger
- 20 Oct 2006 11:24
- 45 of 125
Hi SD,
Great to have you aboard. Yup I really think this is the best stock I have bought in the last 10 years. It ticks all the right boxes. A forward P/E to 2007 of just 3 says it all for a classy company like this. I hold tranches all the way up.
As for future price I think that will be determined how well it settles on the Aim market. I think a rating of perhaps 15 and that may be conservative is warranted.
Ill have a go at digging out the big share holders, I know I have the info somewhere.
Best of luck.
Cheers GF.
goldfinger
- 20 Oct 2006 12:20
- 46 of 125
Hi SD,
from latest company accounts..................
The beneficial interests of the directors holding office on 30 September 2005 in the issued share
capital of the company were as follows:
30.9.05 1.10.04
Ordinary 5p shares
Mr R O'Connell 4,112,801 4,112,801
Mr S McNeill Ritchie 428,603 428,603
Mr G R Boot 412,500 -
Mr A B Virani - -
SUBSTANTIAL INTERESTS
At the date of this report the following parties had notified the company of a beneficial interest
which represents 3% or more of the groups issued ordinary share capital at that date:
No. of shares % held
Mr R OConnell 4,112,801 16.93%
Starvest Limited 3,300,000 13.59%
Unilever UK Holdings Limited 1,099,987 4.5%
S Yee 1,500,002 6.17%
Adworth Plc 1,400,000 5.77%
BNY (OCS) Nominees Ltd 1,600,000 6.58%
HSBC Global Custody Nominee UK 1,552,500 6.39%
Rathbone Nominees Limited 1,900,000 7.82%
If from this position they have bought or sold I beleive it would have to be declared on newstrack announcements which you can find by clicking on the MYH page on this site.
http://www.plusmarketsgroup.com/index.shtml
Cheers GF.
stockdog
- 20 Oct 2006 13:42
- 47 of 125
Thanks GF, you're a star. I've always said, there are tip sheets, broker's notes and Goldfinger. Who needs the first two!
Some of the nominee holdings could be non-beneficial I would think. I guess Stavrvest, Unilever, S Yee (who he?) and Adworth are beneficial - the last 3 look like nominee accounts for PI's and/or fund investors etc.
We'll see again in the September a/c's what has changed more recently. Any idea when due? Probably sooner rather than later, since I cannot see any undue reporting complications likely to arise on a heavy asset free, cash-generative business (lovely!)
sd
goldfinger
- 20 Oct 2006 23:41
- 48 of 125
Im very easy with the accounts here SD.
No idea when they are due.
Good Luck
Regards GF.
stockdog
- 23 Oct 2006 15:42
- 49 of 125
Well, nobody could be accused of overtrading this stock today!
goldfinger
- 23 Oct 2006 23:51
- 50 of 125
Yup it goes that way on Ofex, but be patient SD we could be well in the money when this one moves to aim.
Breath in breath out. LOL.
goldfinger
- 27 Oct 2006 09:14
- 51 of 125
Moving up nicely this morning.
Seems to be renewed interest in this one.
Some are obviously getting in before move to aim.
stockdog
- 27 Oct 2006 14:56
- 52 of 125
Looking good - nothing too fancy, just steady. I am sure AIM will have a significant effect in time when it becomes 'eligible' for a whole new sector of investors.
goldfinger
- 27 Oct 2006 16:26
- 53 of 125
Certainly will SD, you timed your purchase just right I feel.
goldfinger
- 01 Nov 2006 11:38
- 54 of 125
Inching up today.
stockdog
- 01 Nov 2006 14:39
- 55 of 125
only another 1+p to go to hit a new high. seems to be following solid upward channel since May - periods of relative inactivity interspersed with upward steps - support line leading to ~88p in 12 months time, plus superimposed on that the gear change on admission to AIM - anyone's guess, but I'm looking at at least double over the next 12 months which will suit me.
Would like to have a little more of this, but must wait for funds to be released from elsewhere, so in no hurry to see the SP shoot up.
goldfinger
- 02 Nov 2006 10:53
- 56 of 125
Double, thatl do me. Oh I do like that word.
Nice to see it in the blue again this morning SD.
stockdog
- 02 Nov 2006 13:41
- 57 of 125
at 0.25p per day for the 253 trading days of the year we will overshooot our target of 200%! a problem I am prepared to accept.
goldfinger
- 03 Nov 2006 11:24
- 58 of 125
LOL, yup thats a nice thought.
Up again this morning.
Strange more posters havent caught on here.
Most Brokers now cover Plus market stocks.
stockdog
- 03 Nov 2006 12:16
- 59 of 125
Look at the growing volume over the last month as we rise steadily, plus a nice upturn in On Balance Volume shows a nice strength to the buying of late which should make a little step change if we breach and hold above the 47.75 all tie high in the next day or so. Although, unsurprisingly, RSI shows us pretty overbought at present, until market sentiment catches up during a further period of consolidation around the 55p+(?) mark.
We may fail to breach 47.75p and there may be a little retracement to form a nice littel handle to our elegantly shallow cup. That would forebode a nice little (47.75-41.5) = 6.25 rise above 47.75 to 54p. In a way this would add greater long-term strength to the SP than a resistanceless progress through the high.
Enough of charting. News - Ofex to AIM, and fundamentals - good profit growth with zero borrowing, will see us right in the end.
BTW - before I was aware of this share, I had my over cleaned by their subsid before they bought it - great service, good price - all while I watched TV, lovely.
sd
goldfinger
- 04 Nov 2006 04:16
- 60 of 125
You cant beat a good oven.
These micros are rubbish.
goldfinger
- 08 Nov 2006 12:21
- 61 of 125
Looks like a new high.
salford
- 11 Nov 2006 00:35
- 62 of 125
Hey goldfinger, is it true you are that nutter Hedge Hunter on ADVFN?
Just need it clarified.
goldfinger
- 12 Nov 2006 23:20
- 63 of 125
Most certainly.
goldfinger
- 13 Nov 2006 10:52
- 64 of 125
Another day, a new high, but still very cheap.
goldfinger
- 14 Nov 2006 13:20
- 65 of 125
Doing the business again.
stockdog
- 14 Nov 2006 13:32
- 66 of 125
Indeed it is - prefer a little more volume, but can't complain at the price.
stockdog
- 15 Nov 2006 08:18
- 67 of 125
Myhome International plc ("Myhome" or the "Company")
Proposed placing to raise GBP4.0 million (before expenses)
The Board of Myhome today announces that Nigel Wray, Stephen Hemsley and
certain other individuals (together the "Investors") have entered into a
conditional investment agreement with the Company to invest up to
GBP7.0million in the Company.
The investors will acquire 10,000,000 new ordinary shares of 5p each in the
Company (the "Subscription Shares") at a price of 40p per Subscription Share
(the "Placing"). The proceeds of the Placing, being GBP4.0 million (before
expenses), will be applied by Myhome to invest in its growing portfolio of
franchise brands. The Subscription Shares represent 22.4 per cent of the
Company"s issued share capital (as enlarged by the Placing).
As part of the Placing the Investors will also be granted warrants to
subscribe for a further 7,500,000 new ordinary shares of 5p each in the
Company at 40p per share (the "Warrants").
Nigel Wray is a successful entrepreneur with a variety of interests including
Domino"s Pizza UK & IRL plc ("Domino"s Pizza"), The English Wines Group plc,
Networkers International plc, The Greenhouse Fund Limited and various other
quoted and private companies. Nigel is also a director and major shareholder
of Prestbury Investment Holdings Limited, and also Chairman and major
shareholder in Saracens Rugby Club.
Stephen Hemsley is Chief Executive of Domino"s Pizza, one of the UK"s leading
franchise businesses. He was previously Finance Director of Domino"s Pizza
from November 1998 until January 2001. Prior to this Stephen held a number of
senior positions including that of an Investment Director of 3i for a period
of about 8 years.
Following completion of the Placing, Nigel Wray will be interested in
6,875,000 Ordinary Shares (representing 15.4% per cent of the Company"s issued
share capital (as enlarged by the Placing)) and 5,156,250 Warrants and Stephen
Hemsley will be interested in 2,500,000 Ordinary Shares (representing 5.6%
per cent of the Company"s issued share capital (as enlarged by the Placing))
and 1,875,000 Warrants.
The Placing and the grant of the Warrants are subject to certain conditions,
including:
1. Myhome shareholders approving the allotment of the Subscription Shares
and the grant of the Warrants and dis-applying shareholder pre-emption rights
in respect of the same at an extraordinary general meeting of the Company (of
which the Company has already received irrevocable undertakings representing
40.1% of the Company"s issued share capital); and
2. admission of Myhome"s existing issued share capital and the Subscription
Shares to trading on AIM, a market operated by the London Stock Exchange plc.
The Board of Myhome will be sending a circular, containing details of the
Placing and the issue of the Warrants, to shareholders of Myhome convening an
extraordinary general meeting shortly.
Nigel Wray today commented:
"I am very excited about investing in another franchise business at an early
stage in its development and both Stephen and I look forward to working
closely with Russell O"Connell and his management team. We believe that our
experience and expertise from Domino"s Pizza can bring additional benefit to
the Company and its shareholders".
Russell O"Connell, Chief Executive Officer of Myhome, said:
""I am delighted that Nigel Wray and Stephen Hemsley have agreed to invest in
Myhome. Their experience and knowledge of investing in both high-growth
companies and franchising will be invaluable in helping us develop further. In
addition Stephen"s role as the Chief Executive of Domino"s Pizza and his
knowledge of building successful franchise businesses will be of great
assistance to us as we grow.
Our move to AIM remains on track and we hope to announce details of this, as
well as our results for the year ended 30 September 2006 shortly."
Enquiries:
Myhome International plc Tel: +44 20 8404 6479
Russell O"Connell, Chief Executive
Simon McNeill-Ritchie, Chairman
Noble & Company Limited Tel: +44 20 7763 2200
Nick Naylor
Nick Athanas
Bishopsgate Communications Limited Tel: +44 20 7430 1600
Nick Rome
Maxine Barnes
stockdog
- 15 Nov 2006 08:22
- 68 of 125
Seems a very nice price - I wouldn't mind getting some more at a 25% discount to the market price.
What will this do to the SP? Between the dilution effect and the re-listing on AIM (to which the placing is subject) probaby on balance +ve.
No doubt two interesting associates who would on the face of it seem to be serious long termers. I would hope there are lock-in and orderly market clauses in the deal.
Wonder what they plan to buy with the cash, if they have yet decided.
goldfinger
- 15 Nov 2006 11:55
- 69 of 125
Yes I thought firstly 'in on the cheap' but then again I feel they will be long termers.
Price moving the right way.
stockdog
- 15 Nov 2006 18:40
- 70 of 125
v. nice move the right way today - no doubt the new investment boodes well - still just a tad yellow about the price, but I'll get over it.
goldfinger
- 17 Nov 2006 00:23
- 71 of 125
I know what you mean, but lets get going forward.
Pity nobody else as caught on.
goldfinger
- 17 Nov 2006 12:20
- 72 of 125
News
Myhome International plc - Notice of EGM
17 NOVEMBER 2006
MYHOME INTERNATIONAL PLC
(PLUS: MYH)
("MYHOME" OR THE "COMPANY")
NOTICE OF EXTRAORDINARY GENERAL MEETING
The Board of Myhome announced on 15 November 2006 that Nigel Wray, Stephen
Hemsley and certain other individuals (together the "Investors") had
conditionally agreed to invest up to GBP7.0 million in the Company. Details
of this agreement were set out in that announcement.
The Company is today posting a circular to shareholders of the Company
convening an extraordinary general meeting ("EGM") of the Company to be
held at the offices of Noble & Company Limited, 5th Floor, 120 Old Broad
Street, London, EC2N 1AR at 11.00 a.m. on 11 December 2006. The circular will
contain details of the proposed investment by the Investors and will explain
why the Board of Myhome consider the proposed investment to be in the
best interests of the Company. Resolutions will be tabled at the EGM to
empower the directors to allot shares and to issue warrants to the Investors.
Copies of the circular will be available from the Company's registered office,
119 Richmond Road, Kingston-upon-Thames, Surrey KT2 5BX and at the offices of
Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU
until 18 December 2006.
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
Enquiries:
MYHOME INTERNATIONAL PLC TEL: +44 20 8404 6479
Russell O'Connell, Chief Executive
Simon McNeill-Ritchie, Chairman
stockdog
- 17 Nov 2006 12:35
- 73 of 125
sitting here on my 33% gain over 4 weeks - can't complain
will try to attend EGM to see the whites of their eyes so to speak
goldfinger
- 19 Nov 2006 12:43
- 74 of 125
From RHPS tip sheet this weekend........
MYHOME INTERNATIONAL (MYH): The shares have shot up on news
that serial investors Nigel Wray and Stephen Hemsley have
bought 10 million (yes - 10 million) new shares at a price of
40p. They will also be granted warrants to subscribe for a
further 7.5m new shares at 40p. Wray and Hemsley have backed
numerous successful companies including another franchise
operation Domino's Pizza, and the pair will now have a
combined stake of 21% of Myhome's shares. This is a huge vote
of confidence in Myhome, and I expect the shares to receive a
further boost from Myhome's move to AIM and the annual results
both of which are due shortly. The shares have whizzed through
my 50p buy limit, but my target is 100p. HOLD
goldfinger
- 19 Nov 2006 12:43
- 75 of 125
SD let us know how you go on if you can attend the meeting.
Cheers GF.
stockdog
- 19 Nov 2006 20:54
- 76 of 125
Certainly will
goldfinger
- 20 Nov 2006 01:16
- 77 of 125
Thanks SD.
goldfinger
- 23 Nov 2006 13:44
- 78 of 125
Wray backs Myhome International*
Myhome International has announced that Nigel Wray, Stephen Hemsley and other investors have invested 7 million into the company. The company is to undertake a placing, in which the investors will have the chance to acquire 10,000,000 shares at a price of 40p per share and further warrants for 7,500,000 new ordinary shares with a strike price of 40p per share. The subscription shares represent 22.4% of the entire share issued capital of the company and the gross proceeds of the placing - 4 million will be used by Myhome as working capital in order to further build its franchise.
Nigel Wray is a successful entrepreneur and investor who holds strong stakes in Domino's Pizza UK&IRL, The English Wines Group, Networkers International and The Greenhouse Fund. He is also director and major shareholder of Prestbury Investment Holdings and Saracens Rugby Club. He is known as "Britain's Buffett" for his successful stock picking record. After the placing, he will have an interest in 15.4% of the equity and 5,156,250 warrants. Stephen Hemsley is the chief executive of Domino's Pizza and has also held a number of senior positions as an Investment Director of 3i for many years. After the placing he will have an interest of 5.6% of the enlarged share capital of the company and also 1,875,000 warrants. It must be noted that this agreement is subject to certain conditions, such as the current shareholders of the company approving this placing, and also that Myhome is admitted to AIM.
The news is very encouraging for the company. The company's shares now trade at 60p per share, valuing the company at 20.78 million. In the year to 30 September 2005, the company reported earnings per share of 1.84p. The interim results for the six months to 31st March 2006 showed that the company reported earnings per share of 1.02p and that there is a strong probability that the final results for the current year will be significantly higher than last year and we expect that within two years, earnings should be approaching 15p. As such our stance - having first tipped this stock at 7p - remains buy.
stockdog
- 23 Nov 2006 19:05
- 79 of 125
GF - where is this from? It's not entirely accurate.
The concert party are investing 4m, not 7m, and they have been granted for free the opportunity (but not the obligation) to invest a further 3m at their discretion by exercising their warrants. At nil premium the warrants are worth 20p (current SP less strike price), so they have effectively paid only 2.5m for their 22.4% of the enlarged company worth approx. 6m, a 140% gain on issue - oh to be on the side of the "angels" for once!
Also, am I imagining that I have read somewhere that Wray has an interest in T1ps?
Count Brass
- 23 Nov 2006 21:03
- 80 of 125
stockdog - you're right.
In his tip for English Wines (Oct 05) Winnifrith mentioned that Nigel Wray owned 19% of T1ps.com.
goldfinger
- 24 Nov 2006 00:34
- 81 of 125
Hi SD and CB, I beleive Wray was the biggest shareholder in T1ps.com, Im not so sure that is the case now as Winnie on his web net prog refers to his boss as a she.
Im sorry I thought the article was named at the top and yes it does come from the Tips stable, Monisha varaden from UQ.com.
I know that Evil K owns all Watshot.com unless he as got shut.
It might be an idea SD to give Winnie or Monisha an e-mail to take up further clarity of the situation.
Ill just find the address in my e-mail list.
cheers GF.
goldfinger
- 24 Nov 2006 00:39
- 82 of 125
Here we are tom@tisl.co.uk
or
monisha@tisl.co.uk
Hope that helps cheers GF.
goldfinger
- 25 Nov 2006 11:16
- 83 of 125
THE INDEPENDENT
Outlook:
* Governments can tackle climate change by giving everyone their own carbon allocation - European competitiveness - Benefits of EU regulation outweigh costs
Derek Pain:
* MyHome International, a great little success that keeps on growing - Printing.com recovers some lost ground
goldfinger
- 25 Nov 2006 11:31
- 84 of 125
No Pain, No Gain: A great little success that keeps on growing
By Derek Pain
Published: 25 November 2006
Playing the small-cap investment game can be fraught with danger. The No Pain, No Gain portfolio has suffered some acute setbacks. Witness my discomfort over Lennox and Wyatt, and such past humiliations as Profile Media. So, perhaps I can be forgiven for applauding the progress of little Myhome International, the growing and increasingly profitable multi-franchise group.
The shares were recruited in July last year at 15.5p; they have recently broken through the 60p barrier. Under the direction of chief executive Russell O'Connell, the company is making dramatic progress. Next month, it expects to celebrate a round of hectic expansion by switching its shares from the fringe Plus Quoted (formerly Ofex) market to the Alternative Investment Market (AIM). The move could herald more aggressive expansion.
Myhome is raising 4m by placing shares (at 40p a time) with investment luminary Nigel Wray, sometimes called Britain's Warren Buffett, and Stephen Hemsley. Wray has a wide spread of interests, including Domino's Pizza, the successful AIM-traded franchise chain. Hemsley is Domino's chief executive.
I understand that other Domino's executives have acquired shares. Accompanying warrants could produce a further 3m. The sale means that Wray will have 15.4 per cent of the enlarged capital and Hemsley 5.6 per cent.
Messrs Wray and Hemsley have a bargain. They were in the money even before their involvement was announced. When the deal was struck, Myhome's shares were around 45p. So the discount was not then breathtakingly large. Much of the subsequent progress must stem from Wray's involvement. Although their injection will help expansion, the ambitious group, with 600,000 in the bank, was not in urgent need of a cash infusion. Still the pizza men's undoubted franchise experience should strengthen the already impressive Myhome management.
The company is O'Connell's creation. He merged his own residential cleaning business with a carefully researched and computerised rival developed by Unilever. The detergent behemoth lost interest after spending, in small company terms, a fortune developing an IT franchising operation. It still has shares in Myhome, issued when it sold out. There is no doubt that Unilever's sophisticated computerised system has provided Myhome with invaluable infrastructure.
It has allowed it to expand its home-cleaning operations and buy other franchise businesses. Besides residential cleaning, the group undertakes grass cutting, oven and car cleaning, and kitchen and bathroom refurbishment. It has about 300 franchisees; in three years it expects the number to top 700.
Profits in its last financial year (to end September) should emerge at about 950,000, against 177,000 in the previous 12 months. Researcher Equity Development suggests some 2.6m is likely this year.
But the current year forecast could easily be overtaken if Myhome adds, as I expect, to its armoury. The acquisitive group feels its IT back-up would have no difficulty accommodating other franchise businesses. Indeed, it believes such activities as carpet cleaning, plumbing and security are among occupations it could comfortably absorb. And opportunities for cross selling could be enormous.
The group, moving into a 1.25m freehold headquarters at Esher, Surrey, is emerging as a powerful force in the booming franchise business. I think it will continue to make progress. But after such a breathtaking run, any investor who followed the portfolio into the shares should think about top slicing, locking in some profits. Selling half a holding would produce a handsome windfall.
The portfolio, however, is not cashing in. Either I sell the lot or stick with my original involvement. I am happy to sit with Myhome. Even at 59p, the price as I write, the shares are selling at less than 12 times this year's projected earnings. And the shares should enjoy a much higher profile after the switch from the old Ofex market. Of course, such a rapidly growing operation could slip up. But Myhome's management has so far not put a foot wrong.
Finally, another portfolio franchise constituent, Printing.com. It is overcoming a trading downturn and the shares, at 50p, have recovered some lost ground. More about the online printer next week.
cash@ independent.co.uk
Playing the small-cap investment game can be fraught with danger. The No Pain, No Gain portfolio has suffered some acute setbacks. Witness my discomfort over Lennox and Wyatt, and such past humiliations as Profile Media. So, perhaps I can be forgiven for applauding the progress of little Myhome International, the growing and increasingly profitable multi-franchise group.
The shares were recruited in July last year at 15.5p; they have recently broken through the 60p barrier. Under the direction of chief executive Russell O'Connell, the company is making dramatic progress. Next month, it expects to celebrate a round of hectic expansion by switching its shares from the fringe Plus Quoted (formerly Ofex) market to the Alternative Investment Market (AIM). The move could herald more aggressive expansion.
Myhome is raising 4m by placing shares (at 40p a time) with investment luminary Nigel Wray, sometimes called Britain's Warren Buffett, and Stephen Hemsley. Wray has a wide spread of interests, including Domino's Pizza, the successful AIM-traded franchise chain. Hemsley is Domino's chief executive.
I understand that other Domino's executives have acquired shares. Accompanying warrants could produce a further 3m. The sale means that Wray will have 15.4 per cent of the enlarged capital and Hemsley 5.6 per cent.
Messrs Wray and Hemsley have a bargain. They were in the money even before their involvement was announced. When the deal was struck, Myhome's shares were around 45p. So the discount was not then breathtakingly large. Much of the subsequent progress must stem from Wray's involvement. Although their injection will help expansion, the ambitious group, with 600,000 in the bank, was not in urgent need of a cash infusion. Still the pizza men's undoubted franchise experience should strengthen the already impressive Myhome management.
The company is O'Connell's creation. He merged his own residential cleaning business with a carefully researched and computerised rival developed by Unilever. The detergent behemoth lost interest after spending, in small company terms, a fortune developing an IT franchising operation. It still has shares in Myhome, issued when it sold out. There is no doubt that Unilever's sophisticated computerised system has provided Myhome with invaluable infrastructure.
It has allowed it to expand its home-cleaning operations and buy other franchise businesses. Besides residential cleaning, the group undertakes grass cutting, oven and car cleaning, and kitchen and bathroom refurbishment. It has about 300 franchisees; in three years it expects the number to top 700.
Profits in its last financial year (to end September) should emerge at about 950,000, against 177,000 in the previous 12 months. Researcher Equity Development suggests some 2.6m is likely this year.
But the current year forecast could easily be overtaken if Myhome adds, as I expect, to its armoury. The acquisitive group feels its IT back-up would have no difficulty accommodating other franchise businesses. Indeed, it believes such activities as carpet cleaning, plumbing and security are among occupations it could comfortably absorb. And opportunities for cross selling could be enormous.
The group, moving into a 1.25m freehold headquarters at Esher, Surrey, is emerging as a powerful force in the booming franchise business. I think it will continue to make progress. But after such a breathtaking run, any investor who followed the portfolio into the shares should think about top slicing, locking in some profits. Selling half a holding would produce a handsome windfall.
The portfolio, however, is not cashing in. Either I sell the lot or stick with my original involvement. I am happy to sit with Myhome. Even at 59p, the price as I write, the shares are selling at less than 12 times this year's projected earnings. And the shares should enjoy a much higher profile after the switch from the old Ofex market. Of course, such a rapidly growing operation could slip up. But Myhome's management has so far not put a foot wrong.
goldfinger
- 09 Dec 2006 01:26
- 85 of 125
EGM monday,
SD if you do go please tell all , many thanks.
Large T buy of 500,000 went through this afternoon, looks like a month hopefully of highs drama.
stockdog
- 10 Dec 2006 00:10
- 86 of 125
Willco
goldfinger
- 10 Dec 2006 01:00
- 87 of 125
Cheers SD.
goldfinger
- 11 Dec 2006 09:40
- 88 of 125
MyHome sweet on Aim - Investor's Chronicle - 08/12/06
Franchise operator MyHome is about to finalise its move from Plus Markets to Aim. Chief executive Russell O'Connell says that it will improve the company's visibility and make acquisitions easier. The shares were boosted last month when Nigel Wray and Stephen Hemsley, the men behind Domino's Pizza, spent 4m on a stake in MyHome.
At 57p, the shares are well ahead of our buy tip (41p, 10 March 2006). And they still rate good value.
stockdog
- 11 Dec 2006 12:40
- 89 of 125
GF - just back from the EGM, both resolutions passed, no surprise there.
Interesting select group round a table of whom only three asked questions, an insti to my right, a man called John who obviously was a major shareholder since he wore jeans and casual top and me.
My questions were:
1) Are there any restrictions on Wray/Hemsley disposals - none, but the board are convinced they are long-term holders, not quick in-and-out merchants - (they'd do alright being 100%+ up including the warrannts so far). The SP was 42p when they did the deal, so they cannot be blamed for the seemingly cheap price - we've all benefited.
2) Are we on track to join AIM on time by end of 2006 - many smiles and "if you'd allow the meeting to close, we could get on with it" look out this pm/tomorrow for RNS.
3) Any acquisitions in prospect - they have many approaches, which have significantly increased since Wray's interest was announced, which they are looking at constantly. With the 4m in the bank, they are now able to plan, "not just for cashflow, but for what the company needs". They remain focused on becoming the "AA of the home", rather than spreading into othher areas. Also, will be looking for royalty based franchises, rather than acquisitions in future (Nice'N'Stripey was a bit of a one-off - it was there, they took it.)
Russell O'Connell was impressive - typical robust, plain-spoken antipodean with obvious "vision, confidence, personality" - a phrase he used about others that he would seek to engage with the company, but applies to himself I would say.
In response to a 4th questioner, very animated about Australian developments. They do not own the company there (it is owned by the son of the owners of 7/11 - and do they know about franchising!) but have a 10% royalty on revenues. They have 3 franchises so far (think I got that right) on one out of their five brands and are looking to build a business of 100 franchises turning over Aus$1m each within 3 years. They are "likely to be ahead" of this RO says. Although they have no ownership of the Aus venture, if it were to float, MYH would likley seek to take an equity stake at that stage.
Oh, BTW, accounts, as promised at the meeting, are now out - see RNS on DigitalLook.com
All for now - must read the accounts.
Count Brass
- 11 Dec 2006 15:52
- 90 of 125
By the end of 2006? Only just!
29th December 2006
Commenting on the Company"s proposed transfer to AIM, Russell O"Connell, Chief
Executive said:
"It has been a momentous year for the Company, as I detailed in my report
published earlier today. In the past twelve months, the Company has grown
significantly, both through acquisition and organically, attracting
considerable external investment, and today we finish 2006 by announcing our
move to AIM on 29 December. Plus Markets has been fantastic for the company, it
has enabled the Company to attract institutional investment at crucial stages,
and I would like to thank Simon Brickles and his team for all their support.
Moving forward, AIM will provide the Company with an enhanced profile and
additional resource possibilities so that we can take advantage of the many
opportunities available to the Company."
Full announcement here
goldfinger
- 11 Dec 2006 16:22
- 91 of 125
SD, many, many thanks for that. Can I pass these notes around other boards, of course the authorship will be credited to you?.
goldfinger
- 11 Dec 2006 16:30
- 92 of 125
Looks very positive SD.
Historic P/E of 20ish if one takes that payment put forward into next years rather than this.
Will be very exciting to see foward P/E predictions.
Going to read more will get back , all of a dither at the moment.
SP responding very well.
stockdog
- 11 Dec 2006 22:53
- 93 of 125
GF - by all means feel free to spread the word. Just re-read what I wrote - slightly scatter-gun, random selection, but it gives the flavour and two RNS's have now superseded it.
Much play was made by RO of the expertise that NW and SH will bring apart from their cash. NW first visited RO's office some 3 years ago and it's taken till now for NW to get round to inviting himself in and the deal with the warrants the directors say was the best they could obtain and are very happy with it.
"John" kept needling them about what their plans were for the cash from a very supportive position (I'm still in an dif I did not support you I would be out kind of talk). Acquisition of new brands (plumbing etc listed in the accounts) plus no need to make decisions only on cashflow, as I've said. He gave an impression that he liked asking questions from a position of power as much as wanting the answers I felt a little.
Insti was also quite prickly, but I can;;t really reacll his questions, just more of the same concerns about NW/SH and the future of the business which RO had little difficulty answering.
Small detail - as I entered the room, RO made straight for me and greeted me very affably - nice to see a pretence of talking shareholders seriosly and poiltely. He's a likeable guy you could have a drink with with a slightly messaianic vision of franchising and sellling - all very good.
I can see that RO wants to be exec chair - ex chairman is a very much lesser personality - efficient and knowledgeable, but not a driver of a business in the same vein I felt. Just need to keep an eye on RO being effectively Chair and CEO. But his shareholding is a good size without being controllling, so his interests should be similar to ours, although (funnily enough) PI's never seem to get the breaks whhen it comes to bonuses and share options!
Interestingly, being such a small meeting they spotted I was not on the share register (having a nominee holding) immediately, but allowed me in as a guest. Seemed to be quite OK with me asking questions though. Very open discussion generally. Being in s a close period technically (until RNS release of accounts 1/2 hour later) there were quite a few items in the accounts not revealed - like options granted etc.
Apart from organic growth in UK (when Domino's was properly capitalised they had the funds to grow turnover per franchisee from 3k per week to 10k per week for example - TV campaigns etc) and finding the next 5 brands to make a set of 10 (I think most likely) they will be focusingon master franchises abroad - like the single brand to Oz worth 4m pa after 3 years build up - v. significant with no risk and minimal costs other than set up year 1. They can still sell 3 of the other 4 brands into Oz and all of them into other territories.
Looking good for accelerating growth and low risk over the next 5 years or so. With a strong share price acquisition of new brands should always be earnings positive year 1.
General impression was positive for me. Was contemplating what to sell to top up on the way back in the cab, but never got round to it in the end.
goldfinger
- 12 Dec 2006 00:19
- 94 of 125
Ive had another look and its a really excelent feed back from your good self. Spot on, excelent.
Im really upbeat.
I thankyou again must retire now as Ive got a bit of a cold/flu.
Sees ya later.
regards GF.
goldfinger
- 12 Dec 2006 00:23
- 95 of 125
If I dont get back its because Im in bed with the lemsip.
goldfinger
- 12 Dec 2006 09:19
- 96 of 125
Nice to see the price on the up again.
stockdog
- 12 Dec 2006 09:38
- 97 of 125
I'm also pretty upbeat. Can't wait for AIM listing so we get brokers' forecasts and other SP info on the main channels most of which ignore Ofex/Plus shares - except DigitalLook. This will considerably raise the profile and hopefully the SP, so acquisitions using company shares will be even better value.
Who was it who (sadly has died now I believe) was involved with MYH who had built a multi-company business by using shares not cash for acquisitions that were always earnings +ve year 1. Or was it RO who used to work with him - rambling, any ideas what I'm on about?
Am not overweight here, since I have all funds fully engaged elsewhere, but cannot see why I will not be holding my stake in 5 years time on this one when I would hope the SP to be somewhere near 5 X today's price as an order of magnitude. We'll see how hey go between now and then.
goldfinger
- 12 Dec 2006 11:35
- 98 of 125
Yup I vaguely can remember who you are refering to but I cant just get it together this morning. I think its the sinutab tablets thats scrambling the brain.
Yup a long termer for me aswell, I keep adding and adding.
Ibeleive its a fantastic company and as you say the next 6 weeks or so should be bliss.
sees ya later.
Paulo2
- 12 Dec 2006 16:46
- 99 of 125
AIM
12 December 2006
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2
ALL APPLICANTS MUST COMPLETE THE FOLLOWING:
COMPANY NAME:
Myhome International plc
COMPANY ADDRESS:
119 Richmond Road , Kingston Upon Thames, London
COMPANY POSTCODE:
KT2 5BX
COUNTRY OF INCORPORATION:
England And Wales
COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
Myhome International plc is a multi-product multi-branded franchise operator, specialising in the provision of
premium residential services, with a franchisee network of over 250 outlets.
It currently provides four key residential services: cleaning, garden maintenance, kitchen/bathroom resurfacing,
specialist oven cleaning and car valeting services via the group's Myhome Clean, Nicenstripy, Surface Doctor,
Oven Clean and Autosheen options respectively.
DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury shares):
46,240,853 Ordinary Shares of 5 pence each
CAPITAL TO BE RAISED ON ADMISSION:
NIL
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Russell O'Connell (Executive Chairman)
Simon Laird McNeill-Ritchie (Director)
George Robert Boot (Non-Executive Director)
Arif Badrudin Virani (Non-Executive Director)
Jonathan Maxwell Jenkins (Proposed Director)
Martin Gerard Ward (Proposed Director)
PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
Prior Admission Post Admission
Nigel William Wray - 14.87%
JM Finn Nominees 13.41% 10.04%
Russell O'Connell 12.66% 11.88%
Starvest plc 9.53% 7.14%
BNY (OCS) Nominees Limited 7.31% 5.48%
Stephen Glen Hemsley - 5.41%
Rathbone Nominees Limited 6.80% 5.09%
TD Waterhouse Nominees 5.34% 4.00%
HSBC Global Custody Nominee (UK) Limited 5.05% 3.78%
Franchise Investment Strategies plc 4.69% 3.51%
Sarah Meong Yee 4.33% 3.24%
Pershing Keen Nominees 4.02% 3.01%
Unilever UK Holdings Limited 3.18% 2.38%
NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
N/A
ANTICIPATED ACCOUNTING REFERENCE DATE:
30 September 2006
EXPECTED ADMISSION DATE:
29 December 2006
NAME AND ADDRESS OF NOMINATED ADVISER:
Noble & Company Limited, 76 George Street, Edinburgh, EH2 3BU
NAME AND ADDRESS OF BROKER:
Noble & Company Limited, 120 Old Broad Street, London, EC2N 1AR
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
Noble & Company Limited, 120 Old Broad Street, London, EC2N 1AR
DATE OF NOTIFICATION:
12 December 2006
stockdog
- 12 Dec 2006 16:57
- 100 of 125
79.83% held be major interests, leaves 20.17% free float. It won't be that easy to trade in and out of these which is good for us long term holders. Also volatility should be at a low level, since I don't see any of thes abpve trading on these. That just leaves a nice steady climb to 3 or thereabouts over the next 3-5 years, IMHO. Very nice.
Mind you. watch out for bailers when they reach their target. If fundamentals remain intact buy on the dip. If they have a valid reason follow them out.
goldfinger
- 13 Dec 2006 09:37
- 101 of 125
20.17% free float, rather interesting. The price could head a lot higher than I originally thought.
Biscuit
- 13 Dec 2006 10:45
- 102 of 125
Yes, large demand would cause sharp price movements, unless existing holders are willing to sell down.
goldfinger
- 13 Dec 2006 10:55
- 103 of 125
Yup it works both ways when you have a small free float like that, good job its a brilliant business.
goldfinger
- 13 Dec 2006 11:04
- 104 of 125
Nudging up again.
Biscuit
- 13 Dec 2006 11:19
- 105 of 125
Yes, looking at the PEG for current year expectations, it still looks very good value.
goldfinger
- 13 Dec 2006 11:48
- 106 of 125
Yup and a new high, just hit.
goldfinger
- 13 Dec 2006 12:18
- 107 of 125
Everyman and his dog buying in now.
Iankn73
- 13 Dec 2006 21:22
- 108 of 125
I'm so glad I bought into this a few months ago. Who knows where this will go when it floats on AIM 29th Dec. Cant come soon enough for me. This is certainly a long termer IMO.
goldfinger
- 13 Dec 2006 23:34
- 109 of 125
Certainly is.
goldfinger
- 14 Dec 2006 10:43
- 110 of 125
On the move north again.
goldfinger
- 18 Dec 2006 08:03
- 111 of 125
DAILY EXPRESS today...
Investment Extra: Looking back on 2006's respectable gains
AIM Market: The Media Buzz - MyHome International
Anybody have a copy?.
silvermede
- 19 Dec 2006 08:48
- 113 of 125
Positive write up & great publicity, story needs to be picked up by other national press now.
goldfinger
- 19 Dec 2006 10:00
- 114 of 125
Many thanks Ian for the press clipping, spot on.
stockdog
- 19 Dec 2006 10:02
- 115 of 125
The 33m on AIM versus 24m on Plus is a trick of the light - it's just the placing of the 10m with Wray/Hemsley and recent exercise of options by RO and others. Crap, cheap reporting to suggest it is BECAUSE of its move to AIM.
I remain very positive on this share and do not need lazy journalists over-egging the story.
goldfinger
- 20 Dec 2006 08:42
- 116 of 125
Looks like from the MM action over the past few days that they are holding back a few for the aim launch LOL.
goldfinger
- 28 Dec 2006 10:03
- 117 of 125
News
Myhome International plc - Withdrawal from PLUS
28 DECEMBER 2006
MYHOME INTERNATIONAL PLC
("MYHOME" OR THE "COMPANY")
WITHDRAWAL FROM PLUS
Further to the announcement made on 11 December 2006, the directors of the
Company confirm that Myhome is withdrawing from PLUS at the close of business
today, 28 December 2006. It is anticipated the ordinary shares of 5p each in
the capital of the Company will commence trading on AIM on 29 December 2006.
---ENDS---
The Directors of Myhome accept responsibility for this announcement
ENQUIRIES:
MYHOME INTERNATIONAL PLC 020 8404 6479
Russell O'Connell, Chief Executive 07801 064 905
Simon McNeill Ritchie, Chairman
goldfinger
- 29 Dec 2006 02:42
- 118 of 125
From Growth Company Investor this evening.......
New home for Myhome
28/12/2006
As foreshadowed by Growth Company Investor in May, franchise group Myhome International joins AIM tomorrow after a 4 million funding. Myhome began life as the residential cleaning division of food-to-detergents conglomerate Unilever before Australian entrepreneur Russell O'Connell took it over. The company has expanded since then into other franchise areas, such as gardening maintenance and kitchen and bathroom surfaces refurbishment. Myhome launched its shares onto Ofex, now the PLUS share market, where its shares have risen from below 15p to a current 65.5p (with a 5p spread), well above the 32.5p at which Growth Company Investor highlighted the speculative potential in May. In the year to October, the acquisitive company lifted pre-tax profits 329 per cent to 734,000 on 400 per cent increase in franchise network turnover to 13 million. Two weeks before Christmas, a group of investors including Nigel Wray and Stephen Hemsley agreed to put 4 million of new money into the company at 40p representing a comfortable 30 per cent discount to the then market price of 58.5p. They also agreed to accept warrants to subscribe up to a further 3 million at the same 40p price. A move to AIM has often meant an immediate share price gain for companies exiting PLUS. Longer term, prospects depend on the Myhome's hitherto successful formula continuing to work.
goldfinger
- 29 Dec 2006 10:14
- 119 of 125
Here we go then...........
Myhome International PLC
29 December 2006
29 December 2006
MYHOME INTERNATIONAL PLC
Admission to AIM
Myhome International Plc ('Myhome' or the 'Company') today announces that its
ordinary shares have been admitted to trading on the AIM market of London Stock
Exchange plc ('AIM') and that unconditional dealings in its ordinary shares will
commence today ('Admission'). The ticker symbol remains unchanged and is 'MYH'.
The Company's shares will continue to be capable of being traded on PLUS.
Highlights
Significant presence in the home services franchise sector with over
290 franchisees;
Board with experience of operating franchise companies as well as
expertise in the retail and corporate environments;
Brands provide a variety of premium local services, supported by a
central infrastructure providing sales and administrative support;
Targeting further acquisitions including business to business as well
as business to consumer brands; and
4 million investment by Nigel Wray, Stephen Hemsley and certain other
investors (the 'Investors') completed today.
On 15 November 2006 the Company announced that the Investors had agreed to
subscribe 4 million for 10,000,000 new ordinary shares of 5p each in the
Company (the 'Subscription Shares') at a price of 40p per Subscription Share
conditional, inter alia, upon Admission becoming effective. In addition, the
Investors would be granted warrants (the 'Warrants') to subscribe for up to
7,500,000 new ordinary shares at 40p per share. All of the conditions under this
conditional investment agreement have now been satisfied and the Subscription
Shares and Warrants have today been issued to the Investors.
Further to the Company's second announcement on 11 December 2006, 500,000 new
ordinary shares have been issued to Robert Boot and 1,114,584 new ordinary
shares have been issued to Russell O'Connell pursuant to the exercise of options
and warrants respectively.
The AIM admission document is available at the offices of Myhome, 119 Richmond
Road, Kingston Upon Thames, Surrey, KT2 5BX or from the Company's nominated
adviser, Noble & Company, 5th Floor, 120 Old Broad Street, London, EC2N 1AR for
a period of one month after Admission.
Russell O'Connell, Executive Chairman, made the following comments: 'Myhome has
had an extremely successful period and we look forward to pursuing our buy and
build brand expansion strategy. We believe this move to AIM will allow us to
take advantage of the increased profile a listing on London's junior market
affords. The Group will benefit from better access to capital which will enable
Myhome to increase its rate of growth.'
---ENDS---
stockdog
- 29 Dec 2006 11:02
- 120 of 125
Morning Goldfinger - nice tick up, albeit on zero volume. I guess no professional investor will be in till after NY so it shows up as performance for next year. I would expect to see a significant volume of buying over the next few weeks which should not reduce the SP, at least.
Between now and trading statement for 6 months to March, we may well get news of new brands acquired or established. The Australian franchise is really one to watch.
Good luck to all for 2007.
goldfinger
- 29 Dec 2006 11:22
- 121 of 125
Yup it is strange day to float but then again, as you say the new year should be very interesting.
Happy new year.
goldfinger
- 30 Dec 2006 10:53
- 122 of 125
An email from the usual suspects:
Our highly conservative estimates put September 2007 earnings at 6.8p rising to 13.5p in 2008. At 68.5p, Myhome trades on a 2007 earnings multiple of 10.4 falling 5.3 in 2008. That does not discount the explosive growth we have learnt to expect from the group, including the newly incorporated revenue of Ovenclean and Autosheen plus future earnings enhancing acquisitions.
Our forecasts and recommendation are suspended pending the publication of a detailed note next month.
goldfinger
- 30 Dec 2006 11:42
- 123 of 125
Anybody have a copy of this?.......
Saturdays Guardian.
THE GUARDIAN
* Keep and eye on MyHome International
goldfinger
- 30 Dec 2006 12:02
- 124 of 125
Got it, tipped in the Guardian...
Keep an eye on Myhome International , which supplies household services such as cleaning and gardening. It made a successful Aim debut yesterday after moving from Plus Markets (formerly Ofex). It raised 4m by placing shares at 40p each with investors including entrepreneurs Nigel Wray and Stephen Hemsley. The shares closed at 68p , valuing the business at 31m . The Myhome brand was started as a cleaning service by Unilever , before being bought by current chairman Russell O'Connell in 2001. It runs as a franchised operation and has added services including a gardening business and a kitchen repair division. It intends to expand organically and also by buying other companies. Its Aim flotation will give it access to the necessary funds.
silvermede
- 31 Dec 2006 14:51
- 125 of 125
Thanks for new thread gf. Bought into MYH 2 weeks ago after watching for sometime. Business model looks good. Have a Happy & Prosperous New Year!