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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Manroy | LSE:MAN | London | Ordinary Share | GB00B4L12X65 | ORD 5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 85.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 85.00 | GBX |
Manroy (MAN) Share Charts1 Year Manroy Chart |
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1 Month Manroy Chart |
Intraday Manroy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 16/6/2020 | 09:45 | Property Madness in Manchester | 3 |
| 16/6/2020 | 09:44 | Investment group in Manchester | 5 |
| 16/6/2020 | 09:43 | Magna mining - ASX:MAN | 123 |
| 16/6/2020 | 09:42 | MANROY plc - Weapons Engineering | 625 |
| 05/10/2008 | 10:52 | Mandy Darling | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 28/3/2014 07:41 by battlebus2 RECOMMENDED CASH OFFERby FN HERSTAL SA for MANROY PLC · The Boards of FN Herstal SA ("Herstal") and Manroy Plc ("Manroy") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Herstal for the entire issued and to be issued share capital of Manroy (the "Offer"). · Under the terms of the Offer: Manroy Shareholders will receive 85 pence in cash per Manroy Share · The Offer represents a premium of: (i) 51.8 per cent. to the Closing Price of 56 pence per Manroy Share on 25 November 2013 (being the last Business Day prior to the commencement of the Offer Period); (ii) 61.4 per cent. to the average Closing Price per Manroy Share of approximately 53 pence over the three month period ended 25 November 2013 (being the last Business Day prior to the commencement of the Offer Period); and (iii) 62.4 per cent. to the average Closing Price per Manroy Share of approximately 52 pence over the twelve month period ended 25 November 2013 (being the last Business Day prior to the commencement of the Offer Period). · The Offer values the entire issued and to be issued ordinary share capital of Manroy at approximately £16 million. · Herstal is part of the Herstal Group, a Belgian based designer, manufacturer and distributor of firearms and related accessories for defence, law enforcement, hunting and marksmanship. · The Manroy Directors, who have been so advised by Opus Corporate Finance, consider the terms of the Offer to be fair and reasonable. In providing advice to the Manroy Directors, Opus Corporate Finance has taken into account the commercial assessment of the Manroy Directors. · Accordingly, the Manroy Directors intend to recommend unanimously that Manroy Shareholders accept the Offer, as they (and certain of their immediate family members) have irrevocably undertaken to do in respect of their entire beneficial holdings, which, in aggregate, amount to 3,086,013 Manroy Shares, representing approximately 16.2 per cent. of the existing issued share capital of Manroy. · Herstal has also received irrevocable undertakings to accept the Offer from certain Manroy Shareholders, namely Caledonian Heritable Limited, John Celaschi, Liopleurodon Capital Limited, Surinder Rajput and Nigel Cobby, in respect of 7,211,859 Manroy Shares representing, in aggregate, approximately 37.9 per cent. of the existing issued share capital of Manroy. · Therefore, as at the date of this announcement, Herstal has received irrevocable undertakings to accept the Offer in respect of a total of 10,297,872 Manroy Shares, representing, in aggregate, approximately 54.1 per cent. of Manroy's existing issued share capital. All of these irrevocable undertakings are binding in all circumstances (including in the event of a higher offer). |
Posted at 28/3/2014 07:34 by battlebus2 Thanks Ferries..Financial Results · Revenue increased by 20% to £8.9 million (2012: £7.4 million) · Export revenue increased to £7.1 million in the year (2012: £1.9 million) · Provisions for impairment of US Associate of £5.1 million · Resultant post-tax loss of £6.3 million (2012: post-tax loss £1.5 million) · Adjusted post tax profit of £0.2 million (2012: £0.1 million) · Adjusted earnings per share of 1.0p (2012: 0.7p) Operational Highlights · Acquisition of trade and assets of Base Enamellers Ltd and RJL Engineering Ltd · Continued expansion of product range and increased orders into export market · First large scale production and delivery for new GPMG product · New order for £6.1 million relating to new military rifle product to be delivered in 2014 · Order book increased at 30 September 2013 by 53% to £14.7 million (2012: £9.6 million) Post-year end · 28 March 2014 - Disposal of US operations reflected as adjusting post balance sheet event in results to 30 September 2013 · 28 March 2014 - Announcement by Herstal SA of offer for Company at 85p per share, valuing Company at £16.2 million. Andrew Blurton, Chairman of Manroy, commented: "The Group has entered the new financial year with an increased order book and a continued growth in enquiries from potential customers not previously supplied by the Group. The Board believes that the Herstal offer announced today represents good value to Shareholders and is expected to secure further growth and expansion across all areas of the retained business". |
Posted at 28/3/2014 07:26 by ferries5 RECOMMENDED CASH OFFERby FN HERSTAL SA for MANROY PLC · The Boards of FN Herstal SA ("Herstal") and Manroy Plc ("Manroy") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Herstal for the entire issued and to be issued share capital of Manroy (the "Offer"). · Under the terms of the Offer: Manroy Shareholders will receive 85 pence in cash per Manroy Share Alerts not working on advfn this morning |
Posted at 26/11/2013 10:08 by speedsgh Statement regarding recent share price movementManroy, the AIM quoted UK defence contractor, notes the recent movement in its share price and confirms that it is in very preliminary separate talks with each of Herstal SA ("Herstal"), Beretta Holding S.p.A. ("Beretta") and U.S. Ordnance, Inc. ("USO"), which may or may not lead to an offer being made for the whole of the issued share capital of the Company. There can be no certainty that a formal offer will be made for the Company or the terms on which such an offer may be made. |
Posted at 06/11/2013 09:55 by temelco AllenbyMANROY (MAN, 48.5p, £9.2m) NEW CONTRACT New contract wins helps support 2013/14 earnings forecasts Manroy has announced a follow-on order from a European Government worth 2.1m (£1.8m) for Heavy Machine Gun spares. In September the customer placed its initial order valued at 1.7m (£1.4m) bringing the total order value from this customer to 3.8m (£3.2m), all to be delivered in the current financial year ending 30 September 2014. In August, Manroy warned that due to production delays, a later than anticipated finalising of terms and conditions with a new customer and a change in the status of an approved export license, revenues for the year to September 2013 would be around 25% below market expectations (i.e. £9m against an original expectation of £12m). Two thirds of the revenue shortfall was due to issues outside of the group's control and typify the sometimes uncertain dynamics of export-led defence business. As a consequence, we reduced our expectations from an adjusted profit of £1.5m to just breakeven. However, a significant element of the revenue shortfall is expected to be delivered in the current financial year and the addition of these latest orders, just two months into Manroy's new year, helps support our confidence of the group's ability to deliver our earnings forecast of 14.1p which puts the stock on a very undemanding multiple of 3.4x. (IJ) |
Posted at 05/9/2013 12:58 by battlebus2 MAN this looks good..Manroy PLC Contract win Alert TIDMMAN RNS Number : 3292N Manroy PLC 05 September 2013 5 September 2013 MANROY PLC ("MANROY" OR "THE GROUP") NEW EURPOEAN GOVERNMENT CUSTOMER CONTRACT AWARD Manroy, the AIM quoted UK Defence Contractor, is pleased to announce that it has been awarded a EUR1.7m (GBP1.4m) contract from a new European Government customer. It is expected that the contract, for Heavy Machine Gun spares, will be delivered before 31 December 2013, with deliveries commencing in September 2013, subject to standard license approval processes. Glyn Bottomley, Manroy's Chief Executive, said "This is a fantastic win with a European Government customer against strong competition. This contract also includes a 7 year exclusive framework agreement for further orders." ENDS |
Posted at 21/1/2013 14:09 by temelco From AllenbyWe initiate coverage of Manroy with a Buy recommendation and fair value of 60p offering 46% upside to the current share price of 41p. This recommendation is based on the recovery in profits expected in the current year to 30 September 2013 and a share price which is reflecting the historic issues that adversely impacted the FY 2011/12 outcome and nothing for the much improved performance that we anticipate being delivered against the group's record order book. Manroy recently announced losses for the year to 30 September 2012, primarily as a result of delays in the novation of US contracts by the Department of Defense (DoD), a delay in the receipt of First Article Acceptance (FAA) from the DoD and a delay in the confirmation of a particular export order for Heavy Machine Guns from a major customer. In addition, the relocation of Manroy USA (MUSA) from two existing facilities into new premises in North Carolina also negatively affected results from this 49% owned associate. These delays and one-off costs will serve to enhance prospects for the current year as the group expects the export order referred to above, and others, to be confirmed. Novation was received in April 2012 and the FAA process is progressing well, albeit having taken much longer than expected. Meanwhile, a record order book of £9m in the UK and $13.2m (£8m) from MUSA, together with a very encouraging pipeline of contact opportunities augurs well for further revenue generation. Concerted efforts by management to increase export business and widen the group's product base have met with success and now places the group in arguably its best position since float to deliver improved returns this year. Our forecasts for FY 2012/13 call for a near doubling of revenue to £14m, an adjusted PBT of £1.86m and EPS of 7.7p, rising to £17m, £3.18m and 13.6p respectively for FY 2013/14. The resulting PER of 5.3x falling to 3.0x compares to a sector average of 10.9x and 11.0x respectively and illustrates the significant discount that Manroy trades on against the sector average. Assuming our forecasts are met we anticipate the group returning to the dividend list and prudently look for a dividend of 1p, rising to 2p next year. We consider the current depressed share price as offering an attractive entry point for investors and reaffirm our Buy recommendation. (IJ) |
Posted at 20/1/2013 12:40 by glasshalfull Yes, the shares would go "ballistic" if these contracts materialised Simon.A Pre-Solicitation notice was published by the DoD in January 2013 allowing any company to respond who feel they have the capability to fulfil the DoD requirement. The notice states that 50,000 QCB kits are to be delivered between 2014 and 2018 Few snippets. Current Market Cap £7.8m (at 41p) Allenby have initiated coverage with Buy recommendation but sensible earnings forecasts given the various timing difficulties that have impacted during the last 12 months, with room for upgrades should certain contracts materialise. Allenby Capital Limited 17-01-13 BUY 2013 PBT £1.86M EPS 7.70P D/V 1.00p (2.4% yield) PER 5.3 2014 PBT £3.18M EPS 13.57P D/V 2.00p (4.9% yield) PER 3 --- On the issue of contracts & delays, Results for the year to September 2012 were frustrating for management and investors alike, being impacted by events that were largely out of the group's control. Once First Article Acceptance in the US is confirmed, the way will be clear for delivery against a strong order book worth £8m from its 49% owned US associate, MUSA. The record UK order book of £9m gives management the confidence that group revenues for the year to September 2013 will be in line with market expectations of c.£14m. In addition, Manroy is negotiating on a significant number of contract opportunities which, if awarded, would result in a very substantial increase in the order book. --- On question of ethics is one that each potential investor will have to reconcile with their belief/view. Manroy plc is the holding company for a group specialising in the provision of solutions for weapon design, production and mounting requirements for Infantry, Armoured Fighting Vehicles (AVF) and Naval platforms. In the UK these services are delivered by Manroy Engineering Ltd and in the USA by Manroy USA LLC (MUSA), a 49% owned associate. Specifically, Manroy is best known as the UK's only manufacturer of Heavy Machine Guns (HMGs) and has recently designed and introduced a General Purpose Machine Gun (GPMG) and, following the acquisition of the trading assets of AEI Land Systems Ltd, the product range has been further expanded to include the design and manufacture of ancillary products including weapon tripods, towbars, turrets and weapon mounting solutions. Manroy adheres strictly to UK legislation regarding the export of weapons Clearly, the exporting of armaments is politically sensitive and it is worth stating at the outset that Manroy adheres strictly to UK legislation concerning the sale of armaments and weapons to foreign countries and governments. The group has never undertaken arms sales to any embargoed countries and in circumstances where the group sells its products overseas, such sales are undertaken in strict adherence to UK Government export regulations and approvals and are only undertaken after all appropriate UK Government licenses have been granted. --- Manroy USA The US arm, MUSA is only 49% owned by Manroy & it appears that this ownership structure was implemented to allow for the application and subsequent award of HUBZone status where a business must be at least 51% owned and controlled by citizens of the United States and 35% of the firm's total workforce must reside in the HUBZone. Benefits appear threefold, *US federal government agencies are required by the HUBZone Empowerment Act to contract with HUBZone-certified small businesses for more than 3% of their budget in the form of prime contracts to HUBZone firms. *Having HUBZone status allows MUSA to tender for certain DoD contracts on a sole supplier basis rather than competing against major Defence contractors. *Provides MUSA with a 10% price evaluation preference in full and open contract competitions as well as further sub- contracting opportunities. In other words it results in MUSA's quoted price being automatically discounted by 10% against those from businesses without such status. --- MUSAs acquisition of Sabre In March 2011, MUSA completed the acquisition of the business and assets of Sabre Defense Industries (Sabre) for $6m in cash for assets that had been independently valued at $10.7m. Sabre was established in 2002 and was a direct competitor of MUSA. The purchase of Sabre was secured in auction against strong competition from three major international competitors providing some indication of the commercial and strategic value of this business. The kicker here is that Sabre previously had turnover c.$17m per annum & due to bankruptcy has not supplied the Dod since 2010. --- Shareholding Caledonian Heritable Limited 23% Glyn Bottomley 11% Cazenove 9.6% Investec 4.8% Standard Life 3.9% Amati 3.6% Strindberg Rajput 3.5% Downing LLP 3.5% Total 62.9% (As at 30/09/12) --- My conclusion is it that MAN appears substantially undervalued & I would anticipate from commentary of RNS announcements & Allenby research that there are a few decent contract award announcements round the corner, while current order book & profitability in 2013 looks pretty much nailed on, with PERs of 5.3 for the current year falling to 3. The company have been reiterating delivery of the order book, notwithstanding the delayed £8m order which would be the icing on the cake. Placing aside ones ethical stance for a moment, there appears to be a strong possibility for capital growth at the current distressed share price which is also augmented by a decent d/v yield if business goes to plan, with 4.9% yield for 2014 pencilled in at the current price. Regards, GHF |
Posted at 19/1/2013 18:24 by simon gordon If they landed the biggie in America, as mentioned in 2011 at GCI, then the share would rocket. Does anyone know if it's still a potential goer?GCI - 25/07/11 Manroy fires into USA by Robert Tyerman Machine gun maker Manroy (MAN) has raised £3 million after taking 49 per cent of American gun manufacturer Manroy USA in a £4 million share deal. Manroy has secured the money at 95p in a placing handled by broker Arbuthnot Securities following its decision to exercise its option to buy the Manroy USA stake from Caledonian Heritable, a diverse group owned by property developer Kevin Doyle. Steered by chief executive officer Glyn Bottomley, the British Manroy company already has close management ties to the US company, which earlier this year borrowed $2.7 million (£1.7 million) from Caledonian Heritable to help fund its $6 million purchase of a fellow US concern Sabre, a supplier of heavy machine guns and parts to the US department of Defense, from Chapter 11 bankruptcy. The British Manroy, which came to AIM in December by reversing into shell group Hurlingham and raising £6 million at 75p, has supplied the British military for more than 25 years and currently makes heavy machine guns to the standard to which the US army last year converted its present procurement programme. For that reason, Bottomley, Doyle and US defence industry stalwart John Buckner, who owns 51 per cent of Manroy USA, hope the enlarged Manroy will be well placed to pitch for a share of the US government's new heavy machine gun programme, when it invites tenders in 2013. Manroy already has a manufacturing agreement with US defence and aerospace giant General Dynamics, through which the Department of Defense is sourcing the programme. Manroy suggests the parts of the programme that could then come its way might be worth $160 million (£100 million). Under its deal with Doyle's Caledonian Heritable, the British Manroy is issuing new shares to Caledonian for 49 per cent of Manroy USA and a half interest in the property it occupies, as well as lending Manroy USA the money to repay its Caledonian loan. The aim of the placing is to replace the money lent and to augment the British Manroy's cash. Highlighted by Growth Company Investor in December at 76.5p, Manroy's shares hit 123p at one point and now trade at 97.5p, up 3p this morning, valuing the company at £12.7 million. Despite the somewhat incestuous aspects of parts of the deal, it could pave the way to worthwhile business for the company. Hold on. Tags: AIM market, General Dynamics, Glyn Bottomley, Heavy machine guns, John Buckner, US department of Defense Sector: Aerospace & Defence Companies: Manroy |
Posted at 02/7/2011 11:16 by temelco The Directors of Manroy (AIM:MAN), the UK's leading machine gun manufacturer, are pleased to announce that the Company has exercised its call option (the "Option") to acquire a 49 per cent. stake in Manroy USA LLC ("MUSA") and a 50 per cent. share in the factory premises occupied by MUSA for a total consideration of $2.5 million (GBP1.6 million). On 3 December 2010, Manroy entered into a call option agreement (the "Option Agreement") with, inter alia, Caledonian Heritable Limited ("Caledonian") over 490 units of membership in MUSA, representing Caledonian's member's capital account in MUSA and Caledonian's 50 per cent. share in the factory premises in Scottsboro, Alabama, occupied by MUSA, at an option price of US$2.5 million (GBP1.6 million) payable in cash or in shares at the discretion of Caledonian. The Option Agreement was due to expire on 31 March 2011 but, as announced by Manroy on 1 April 2011, it was extended to 30 June 2011 following MUSA's acquisition of related assets in the United States and Manroy's request to undertake further due diligence on the acquired assets. Acquisition of business and assets of Sabre Defence Industries LLC by MUSA In March 2011, MUSA completed the acquisition of the business and assets of Sabre Defence Industries LLC ("Sabre") for a total cost of approximately $6.0 million (GBP3.7 million) in cash. An initial payment of $4.95 million (GBP3.1 million) was made on 15 March 2011 for substantially all of the operating assets of Sabre and a subsequent payment of $0.63 million (GBP0.4 million) was made on 31 March 2011. The balance was provided as a loan for working capital while the MUSA management team developed the Sabre assets to their full operating capacity. This acquisition significantly increased MUSA's size and capability and the Manroy Directors consider that, following the exercise of the Option, it improves Manroy's future prospects. Sabre was established in 2002 following the asset purchase of a business manufacturing M2 Heavy Machine Guns ("HMG"), Quick Change Barrel kits and M2 parts. These are also the principal products which are designed, manufactured and supplied by Manroy in the UK. Sabre's principal customer is the US Department of Defense ("DoD"), together with additional US law enforcement agencies and commercial customers. Sabre is based in Nashville, Tennessee and operates from a 35,240 ft(2) facility. Over the past nine years, Sabre has completed contracts for the DoD worth in aggregate approximately $83 million (GBP52 million). As a result of the acquisition of the business and assets of Sabre, MUSA gained a barrel manufacturing line, manufacturing capacity for key elements of the HMG and production capability for M4, M5 and M16 rifles. In addition, Sabre has a commercial product line for civilian and law enforcement customers which, in due course, could potentially be sold to a trade buyer if considered by the Directors of MUSA not to be a core activity. The assets purchased include machinery at a fair market value of $4.1 million (GBP2.5 million) and work in progress and inventory currently valued at approximately $6.6 million (GBP4.1 million). Therefore, in aggregate, MUSA acquired assets with a value of $10.7 million (GBP6.6 million) for approximately $6.0 million (GBP3.7 million). The Directors of Manroy believe that the purchase by MUSA of the business and assets of Sabre has immediately accelerated MUSA's capabilities by at least two years. This transformational opportunity for MUSA resulted from Sabre's filing for bankruptcy in late 2010 following legal action against its then management. Consequently, MUSA acquired the business and assets of Sabre from Cadence Bank in an open auction. Sabre has not supplied the DoD since July 2010 as a result of this legal action; however contracts with the DoD, worth approximately $10.2 million (GBP6.4 million), are in the process of being novated to MUSA. MUSA's management expects the manufacture and supply of Sabre's products to resume shortly. MUSA's management intends to fully integrate Sabre's business and assets into the current MUSA business and will manage the enlarged company without the previous Sabre management. Caledonian provided a loan to MUSA of approximately $2.7 million (GBP1.7 million) for Caledonian's 49 per cent. share of the acquisition cost of the business and assets of Sabre. By exercising the Option, Manroy is proposing, subject to shareholder approval as set out below, to advance $2.8 million (GBP1.8 million) to MUSA to enable MUSA to repay this loan along with interest of approximately $0.1 million. The Directors of Manroy are considering various funding options in this regard and will make a further announcement as appropriate. MUSA Option Agreement Under the terms of the Option Agreement, Caledonian is entitled to elect to receive the consideration of US$2.5 million (GBP1.6 million) in either cash or ordinary shares of 5p each in the Company ("Ordinary Shares"), to be issued at 75p per share, which was the placing price at the time of the Company's admission to trading on AIM in December 2010 when the Option Agreement was entered into. As Caledonian is a member of the concert party, which is currently interested in 39.2 per cent. of the Company's issued share capital, in the event that Caledonian elects to receive its consideration in Ordinary Shares, the Company will seek a waiver of the obligations of the concert party under Rule 9 of the City Code on Takeovers and Mergers (the "Whitewash"). Any such Whitewash would require approval of the Company's independent shareholders at a general meeting. Any allotment of Ordinary Shares would be deferred until the business day immediately following expiry of five days following approval of the Whitewash by independent shareholders. Further details regarding MUSA MUSA was incorporated in 2009 and since then has received technical and business development support from Manroy. MUSA is owned as to 51 per cent. by John Buckner, an experienced operator in the US defence industry, with the balance currently owned by Caledonian. MUSA's strategy is to sell into the US defence market, through licensing technology and products, and to provide support in the same manner as Manroy provides to the MoD and its export customers. A technical assistance agreement has been finalised which has been endorsed by the US Department of State confirming US authority for the technical agreement between Manroy and MUSA. In addition to the acquisition of the business and assets of Sabre, a further recent significant development for MUSA is the receipt of confirmation that it is a recognised Small Business, under the Small Business Administration ("SBA") in the United States. Confirmation of this status from the SBA enables MUSA to tender for additional contracts and improves its prospects of winning those contracts. This is expected to enable MUSA to generate significantly increased revenue and profitability. MUSA is managed by John Owens (President) and a number of senior managers. It is expected that, following exercise of the Option, Glyn Bottomley, Manroy's Chief Executive, and David Low, a Non-Executive Director of Manroy, will represent Manroy on the board of MUSA. Glyn Bottomley, CEO of Manroy, said: "We are very pleased to have exercised our option to acquire the stake in MUSA. Since we entered the Option Agreement in December 2010, MUSA has significantly developed as a business - firstly through the acquisition of Sabre's assets and secondly through gaining accreditation from the Small Business Administration. Both of these will have a very positive impact on MUSA and will consequently enhance Manroy's prospects." |
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