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HML Henderson Mrly.

0.085
0.00 (0.00%)
25 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Henderson Mrly. LSE:HML London Ordinary Share GB0030711229 ORD 0.125P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.085 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 0.085 GBX

Henderson Mrly. (HML) Latest News

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Henderson Mrly. (HML) Discussions and Chat

Henderson Mrly. Forums and Chat

Date Time Title Posts
10/9/201322:06End of the Road for HML in 201048
13/7/201216:39Henderson Morley - Long suffering holders 2010 thread6,224
13/9/201012:47Henderson Morley: the financials13
13/9/201012:47Henderson Morley - The 2006/2007 thread.30,055
27/8/201014:37New Life from today549

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Henderson Mrly. (HML) Most Recent Trades

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Henderson Mrly. (HML) Top Chat Posts

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Posted at 30/6/2012 11:39 by mmelody
Disgraceful - even after its demise HML continues a sorry history of utter corruption
Posted at 27/4/2012 12:34 by thefruits
It appears that Ian Pardoe, formerly HML man... has died.

Condolences to his family
Posted at 05/3/2011 15:07 by bi1l
Yes, just recently pranchalee, his final comment was along the lines of still in the process of investigating whether there are any actions that may be taken by them which may lead to further recoveries for the benefit of the administration. They dont give much away though but maybe someone told them about the KHV vaccine that ( without us ) should still be ongoing and had or still presumably has considerable value. Unless of course those at HML just made it all up which wouldnt surprise me now.
Posted at 13/11/2010 14:33 by kipper8
I lost 15K. I was strung along into believing that we had a deal with share price We had nothing. I do not think that IP and AK were open and honest with us. I am told that they set up a new company even before HML was in administration. Maybe its all gone but I am hoping for two things. AK and IP having to watch their backs all of their lives as some former shareholders are still very angry. Also the two forementioned ba*tards do not live to enjoy their ill gotten gains. This is all in my opinion.
Posted at 26/9/2010 09:41 by pwhite73
thefordprefect

How new are you to HML?

I was posting on this board at the time of the Cutanae announcement. In March 2006 HML announced they had signed a deal with an 'un-named dermatological pharmaceutical company' but for some unknown reason they would not reveal the name. I remember people ringing up the company and speculating on names like Johnson and Johnson, Pfizer, Eli Lilly and Merck. It was not until September 2006 six months later did HML reveal it was an unknown company called Cutanea.

Sceptics like myself pined at the time if this really was a cure for a form of herpes would HML be signing any deals with a nonentity like Cutanea. In the Sept 06 announcement HML talked of royalties of $6.5 million and $115 million after ten years if marketing went to plan.

Of course it was all a scam to raise equity. There was no real commercial deal with Cutanea and both parties knew they could never sell such an outdated product in the US. Cutanea were a small US company who were formed that same year 2006. They wanted to give the early impression they were signing international deals and the same applied to HML.

Anyway for those of you who think Cutanea, AP and IP have run off with your millions here are the facts.

1. For the third quarter ending 30 June 2010 the auditor J.H. Cohn LLP expressed his doubt that Cutanea can continue as a going concern.

2. As a result of the auditor's report Cutanea filed for a public listing in September 2010 to fund their lead drug omiganan and provide vital working capital.

3. Debts to 30 June 2010 stood at US$20.1 million.

4. There are NO revenues coming in from any of their three candidate drugs inclusive of ICVT.
Posted at 25/9/2010 23:14 by pwhite73
HML had a failed business model. The products may have worked but nobody wanted them because there were probably better products on the market or HML were simply asking too much.

But the real money HML sought was not from deals but from private investors like yourselves buying their ever discounted shares in the hope one day they would strike a genuine multi-million dollar deal. But that is what the AIM game is all about 'tricking investors'.

With credit markets dried up and savage cutbacks in research and development spending HML has reached the end of the line. I'm not quite sure why you guys have set up a private BB or what is it you are trying to achieve.

The administrators appointed would be specialists in this area. If they thought they could flog any of the IPs for £1 million do you really think they would be selling them back to AP and IP for a paltry £105K.

HML is gone and so should be all of you.
Posted at 17/9/2010 17:26 by jack1236
Care of wuggy, from another site

In case anyone is interested, the administration formally made it into the London Gazette yesterday



It appears, contrary to the RNS of 27th August, that indeed Madison Animal Health hasn't gone into administration. Apparently at that date it was a "wholly owned subsidiary" of HML.

As HML is still listed (even though suspended) can I suggest that the Administrator releases an urgent RNS to clarify the situation, as this seems to be of fundamental interest to shareholders in HML? The AIM rules remain in place whether suspended, or in administration, or not....

More from Wuggy

Just to reiterate, the 27th August (date of suspension) RNS said:

"Pursuant to the procedures in part 2 of The Insolvency Rules, 1986, a notice of intention to appoint an administrator by the Directors of the Company, was filed this afternoon in court. This notice covers Henderson Morley plc, as well as its wholly owned subsidiaries Henderson Morley Research and Development Ltd, and Madison Animal Health Ltd."

According to Companies House, as at 30.4.09 Madison was dormant. Then on 4th August 2010 it registered a mortgage/charge at Companies House.

Also according to CH, Madison isn't a subsidiary of HML at all - instead it's jointly owned by Knight and Pardoe, and as far as I can see has never been a subsidiary of HML.

Madison is also based at HML's address.

Or to put it another way.... "W T F is going on????"
Posted at 01/9/2010 12:05 by kntinshiningarmour
Fact is they are under no obligation to disclose why which "deal" did not work and for what reason BUT PRIMARY REASON is this co thought they could get other parties TO DO THE WORK FOR THEM.

They did not supervise the "deals", they outsourced control of the technology development and thought partners would do all the work without them lifting a finger. They applied very limited funds themselves to tech development but raised substantial amounts THAT WENT INTO DIRECTORS POCKETS.

Their strategy was a lot like a woman who thinks that Mr Perfect will arrive one day and sweep them off their feet without them having to do nought. Well Mr Perfect never arrived. There was never a Plan B.

Do you remember when they were Bid Target for a year yet never got an approach nor did anybody buy any part of HML cos no VALUE there.

2008 was a game changer for AIM - but punters did not realise this and nor did a lot of AIM companies. It became clear the funds were not there for companies like HML with pathetic track records, hemmoraging money. After 2008 the FSA clamped down on small brokers selling stocks like HML to clients, it was no longer possible for HML to rely on endless placings.

In response to 2008 HML carried on spending money same as usual - they were advised to cut costs as other outfits were doing, but they did not cut costs they insisted on living hand to mouth as usual.

This outfit never upped its game and came to the end of the road.
Posted at 27/8/2010 14:42 by thefruits
OK GUYS UPDATE

Just had a very insightful conversation with Neil Baldwin. He's agreed that I can post a short summary but here's the position.

This morning HML asked AIM to suspend trading in HML shares. The filing to the courts is a legal measure which effectively takes HML into chapter 11 and protects HML from demands from its creditors.

HML will file the papers and then its up to the court to decide how long HML have to secure a route of financing.

In the meantime, HML are still around, still working on securing funding and Brewin as the NOMAD still have an obligation to stay on the case and AIM rules still apply

No guarantee that funding can be achieved in the meantime but this gives a bit of restbite, perhaps only a week or so but sometime for various discussions with various parties either to come to fruition or not.

If not then administrators will be appointed

Seems that most 3rd party funding options required HML to sign a deal with KMS before they put further equity into the company. Either that or security against the assets. Deemed more favourable (for everyone vs alternatives) to take option of AK & IP to try to take security.

NB doesn't believe having worked with AK & IP that they have sought to deliberately defraud the shareholders.

Mike - thanks for the heads up. Neil seemed like a honest bloke and I thanked him for his info and his permission to share what I've posted above

tf
Posted at 18/8/2010 06:23 by thefruits
I'm struggling to see where we're going here. Lets assume that hml and kms sign the deal and hml get say $500k of cash upfront. Well that will last approx 6 months. Then we'll be looking for another placing unless HML get SPAH to sign the khv deal with an upfront payment.

Hence I'm struggling to see what we will have achieved if we sell ICVT for so little. WE've spent 18 months trying to sell it, burning through £1.5m of cash in the process. In the meantime we will have not progressed the KHV deal, or apparently received any grants, no orphan drug approval, no apparent new patents. It just feels like we've lost the last 2 years and spent alot of time and money just to deliver a poor cash injection that will last pitifully short period of time. Ok I could be underestimating how much cost this will save from an operational basis as I have no idea how much ICVT cost HML to administer on an annual basis. Were I so burdened with such useful info I doubt I'd be so confused over hML's strategy

Its worth recalling what this deal is supposed to deliver... from HML's mouth

The headline points in the LOI are:

� Commencement of a 9 week legal and other due diligence period expiring
14 May 2010
� Subject to the above, a license agreement will provide for a payment of
up to US$5 million based on certain milestones
� This includes an initial US$1.3 million minimum payable on the
commencement date of the licence
� KMS will assume all costs for patent protection from date of licence
� Double digit percentage royalties payable on commercialisation

On top of this..

On completion of the transaction, which is conditional
on satisfactory due diligence, KMS has agreed to pay Henderson Morley an
additional payment of not less than $250,000 in exchange for consultancy
services or other specialized work as directed by KMS, and agreed to by
Henderson Morley, to help accelerate the time to markets for the products.

So what does this mean...

Well in my opinion, unless hml deliver at least the amounts signified above then all i can see is further disappointment and share dilution (probably via a consolidation). Thing is, the tone of the recent rns suggested that hml were having issues with closing commercial terms which to me smacks of suggesting we aren't going to even get the meagre returns noted above.

This is really all too depressing. Hopefully should give some of us an opportunity to make a move to the exit though with our tails not so firmly between our legs. I feel even good news will be met with a flood of those making moves to the exit. I'll be amongst them unless HML really delivers a stellar deal. I can't see how else we're going avoid further damaging dilution.

all imho from a hot and sweaty office somewhere in the far east during a lunch break.

gl all, tf
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