Phish,MNF shares do not turn over at a great rate as there are...

Phish,

MNF shares do not turn over at a great rate as there are very little available to trade. Only 53M on offer, 1/2 owned by the two exec directors and other large lumps owned by a few others. I have not see a top 20 shareholders register but it would likely confirm what I am saying here.

I think I am pretty happy sitting on my MNF shares at present SP rather than ENG which has plummeted down to 2-3c with the likely possibility of another huge placement/Seven takeover coming in at 2-3c. Trading volumes on ENG are higher than MNF (prob same in $$ terms due to SP difference) but are higher due to 635M shares being in play. ENG SP has not really gone above 3c since March 08 from memory? So the volume is not doing the SP any favours.

As I have said in previous posts, it is very hard to build a large holding in MNF as no-one is prepared to sell any large qty of shares. If you wanted to buy say a million under 20c it would take you about a month I reckon and then you would likely have to pay into the 20's.

Based on the previous 4 quarters, MNF is now profitable and SP will move up accordingly albeit slowly in this market. This is a tough market right now, takes a lot for the market to radically re-rate a SP. Will probably need a media report to get behind it and point out that this is a great investment, company doing everything right, profitable, 80-100% growth rate, etc, etc.

I am not predicting this per se but I would not be surprised to see Seven making a takeover offer for MNF if they are truly going for total market control as you suggest. I reckon +30c would just about do it for most MNF holders! ;^)