Managed Support Services Share Discussion Threads

[richmond9] 19/11/2011 10:32

I make no apology for the length of this post.

SIMON BEART IS A FRAUD

He has consistently claimed to be a turnaround specialist. He told us he had sorted things out, that the company was moving forward, that HIS strategy was the right one and was delivering results.

- ALL the money is gone (nett cash 1-12-2007 of 12m plus 7m + 6m = £25m)
- ALL the contracts are gone
- ALL The acquisitions have failed

10-3-2008

The Board, as would be expected, has taken steps to improve senior management and has implemented internalcontrols in order to provide a sharper focus on margin management and cash flow. In the opinion of the Board, these management actions will enable the Group to operate at break even, on an underlying basis before exceptional costs and to improve the historically poor cash flow.
Simon Beart
Chief Executive

27-6-2008

The Group is coming to the end of its first quarter's trading operating under new disciplines and procedures and with a greatly reduced cost base. The Board can confirm that trading has stabilised, as anticipated in our earlier statement of March 2008. The four reporting units have traded profitably to date in the current year. It is the Board's intention to confirm the outcome of the first quarter's trading at the Extraordinary General Meeting which has been convened for 30 July 2008.

As a result of the improved trading performance, the Group now has the stability and management capacity to consider both tactical and strategic acquisitions in order to deploy more efficiently the Group's surplus cash balances.
Simon Beart
Chief Executive

30-9-2008

KEY POINTS
• Strong first half trading
• Excellent cash conversion
• Net cash balances £7.9 million (as at 18 June 2008: £5.2 million)
• Turnover £16.3 million (6 months ended 31 March 2008: £16.4 million)
• Adjusted profit before tax £1.1 million* (6 months ended 31 March 2008: loss £5.8 million)
• Adjusted earnings per share* 0.94p (6 months ended 31 March 2008: loss 3.5p)
Simon Beart
Chief Executive

10-2-2009

Current trading and prospects The Company announced its interim results on 19 November 2008 for the six months ended 30 September 2008. Reported turnover for the period was £16.3 million generating an operating profit before tax, amortisation of intangible assets and share-based payments of £1.0 million.
The Directors believe that the changes undertaken by the Group last year have ensured it is well placed to respond to any changes in the markets in which it operates. Current trading remains in line with management's expectations for the year ending 31 March 2009.
Simon Beart
Chief Executive

16-6-2009

However, with the benefit of enlarged cash balances, the Board is now able to review a broad range of acquisitions.

It is to be hoped that in the next twelve months the scale and activity of the Group can be transformed, either by a substantial transaction or by undertaking a range of smaller acquisitions in related markets offering consolidation gains.
Simon Beart
Chief Executive

1-12-2009

Status Builing Srvices Acquired

Commenting on the results, Simon Beart, Chief Executive said:

"We now have a strategic way forward for the Group as well as the management resources to deliver our ambitions. We anticipate that progress will be rapid as we look to expand the Group".
Simon Beart
Chief Executive

15-4-2010

Commenting on the acquisition, Chief Executive, Simon Beart said:

"Data Sound has an impressive business model that delivers high levels of customer service. We expect to acquire further operations in the areas of legal compliance for our Building services clients"
Simon Beart
Chief Executive

1-7-2010

Commenting on the results, Simon Beart, Chief Executive said:

"The new team has achieved a great deal in a short time. We are now profitable with a strong platform and we expect rapid growth both organically and by acquisition."
Simon Beart
Chief Executive

5-8-2010

"The Board is pleased to confirm that MSS has delivered month on month profitability throughout the first quarter. This is a considerable achievement given the prior year losses and the integration challenges arising from the acquisitions made in late 2009 and early 2010.
It is anticipated that the results for the second quarter will show continued progress..."
Simon Beart
Chief Executive

28-9-2010

Prospects

The acquisition of ECS materially increases the scale of the Group's Building Services operations as well as enhancing the Group's revenue mix as a result of further growth in the Group's contracted revenue base.

The Board believes that the increased financial resources and operating scale will enable the Group to compete effectively for strategic outsourcing contracts within the Building Services markets and continues to anticipate growth in the contracted revenue base.
Simon Beart
Chief Executive

11-11-2010

Trading Update

The results for the half year ended 30 September 2010 are expected to reflect the competitive conditions in some of the Group`s markets. The Board is pleased with progress on sales gains, as illustrated by today's announcement. Today's contract announcement will contribute materially to sales growth in the next financial year.

The Board is also pleased to confirm that the integration of the recently acquired ECS business into the Group is proceeding smoothly and that early trading indications are promising.

The Group has very low levels of debt and no material exposure to government related spend.

Simon Beart
Chief Executive

7-12-2010

Commenting on the results, Simon Beart, Chief Executive said:

"Our recently announced contract gains and acquisitions have transformed the prospects for the Group. We anticipate further market share gains and we look forward to the next financial year with increasing confidence"
Simon Beart
Chief Executive

7-12-2010

Managed Support Services plc, the Technical Building and Environmental Compliance services provider is pleased to announce that it has signed a three plus two year contract for the provision of a Total Facilities Management solution to Thomas Cook Group UK Limited ("Thomas Cook").

This multi million pound contract covers Thomas Cook's major corporate buildings across the UK and is the first time Thomas Cook have outsourced the provision of these services to a single provider.
Phase 1 of the new contract commences in January 2011, and will cover the main Corporate office sites with additional Thomas Cook sites

The Board of MSS regards this contract win as further validation of the Group's strategy to create a competitive building services platform nationwide, capable of meeting the complex needs of major corporate customers.
Simon Beart
Chief Executive

2-6-2011

Trading in the first quarter of this financial year has seen a weak start from the Group units dependent on capital expenditure by customers, coupled with low utilisation rates in April. Visibility and activity levels for the second quarter appear to be improving.
Simon Beart
Chief Executive

7-7-2011

KEY HIGHLIGHTS

· Two acquisitions successfully completed

· Group turnover increased from £15.3 million to £26.6 million

· Return to normalised operating profit*

· Activity levels recovering in second quarter after slow start

Commenting on the results, Simon Beart, Chief Executive said:

"We have now assembled a nationwide capacity to deliver Building Services and Environmental Compliance to our growing customer base. We expect further new business gains in due course as the Group continues to gain recognition and profile in its markets."
Simon Beart
Chief Executive

26-8-2011

Commenting on the disposal, Simon Beart the Chief Executive said

"This disposal simplifies the Group and strengthens the balance sheet, both of which we believe will help us in further new business gains."

Simon Beart
Chief Executive

October 2011

Managed Support Services (MSS) is experiencing strong demand for its building services solutions as businesses look to realign their maintenance requirements to reflect the current economic climate. As a result, MSS has secured a number of contracts with a mix of private and public sector organisations worth a total of £2.35 million.

Simon Beart
Chief Executive

18-11-2011

Background to and reasons for the Disposal

Following material trading losses in 2007 and 2008, that led to the appointment of a new management team, the Group undertook a significant restructuring and a reduction in operations. The commercial activities remaining, following these management actions, were in the building services markets. It was therefore decided to expand these residual activities by acquisition in order to create a nationwide supplier of building services, ideally with sufficient market scale to appeal to larger customers than the Group enjoyed at the time.

In pursuit of this policy, the Group undertook two principal acquisitions to increase the Group's building services activities, being the acquisitions of Status and ECS, for a total net cost of GBP6.1m.

The businesses acquired by the Group and the small existing operations were consolidated into two primary trading units based in Manchester and Wembley during the current year to form the Division. The Division also enjoyed considerable new business success gaining larger corporate customers during 2010 and 2011.

However, whilst the Division has been profitable on a stand-alone basis, before Group costs, the Board believes the Division has made insufficient progress particularly in current markets, in creating a building services division of scale. The Board therefore decided that the prospects for the Division would be realised more rapidly if the Division became part of a larger trading group.
Simon Beart
Chief Executive

ANYONE ELSE FEEL LIKE THEY HAVE BEEN MISLEAD

VOTE NO! LETS SEE THE RESULTS OF A FORENSIC INVESTIGATION INTO SIMON BEART AND THE COMPANY CARRIED OUT BY ONE OF THE BIG FOUR AND THE SFO

[venlib] 19/11/2011 00:12

I've only read it briefly but, Richmond9, I think it's 1 mil minimum or potential of 2.5 if contract novations are 10m or more. An astute buyer? Or a headline that MSS can publish knowing by the time it's not met the focus has moved on?

Now we know why loan notes were issued – rate of interest, Lol, what a cou. Don't you just wish you were a city boy playing with other people's money to that extent and with that insider knowledge, makes me laugh (only because it wasn't my money otherwise I'd be spitting feathers to say the least)

So – there's now a shell 'Investment co' – isn't trading and the market cap of 2.73m is reduced to 1m or 2.5 max. The cap is reducing by the day as management fees and commitments are met & they have 12 months to play that game before shares are cancelled or the co makes an acquisition (with what?) or trades (with what and by whom?)

On principle you'd vote NO and tell them to get stuffed – if the No's win then the co has already admitted it is going no where and can't compete or make a profit and will be wound up - so the No's can watch it all the way to it being wound up and they get nothing. Alternatively vote Yes and watch the share price dive to accommodate the lower cap then hover until a reverse/acquisition or trading op is sorted. Yeah the big city boys are gong to work their butts off to make the 1 mil turn into a great new co?. So the choice is die quickly, or take your time

It was all over a long time ago - the boys just needed to bleed it dry and maximise the exit dosh

V

[2float] 18/11/2011 22:25

AIM are getting a big thick file on this one, utter disgrace. 100% on the nail Richmond9, Simon Shining Knight engineers a way to pay himself shareholders funds under the guise of 'looking for another opportunity in a sector the management have experience in'. Didn't they come to WNG claiming they had sector experience yet they've utterly failed. All the rubbish, allegations and attacks they've made on the previous board yet it isn't the previous board that has destroyed a company that had contracts, customers and £13m in the bank when Beart took over. Well done Beart you utter to$$er!! You've failed the shareholders whilst you've taken a huge and undeserved salary. Hang your head in shame.

Resign now if you have even a shread of moral fibre left in you.

[richmond9] 18/11/2011 20:30

What an absolute disgrace

The disposal will leave SB with nett cash of 1 million once they have paid everything out including the outstanding indebtedness, which includes repaying himself the 500k loan notes he has been paying himself interest on for the past 6 months.

Read it, then read it again

SB now wants us to vote to allow him to continue to run the remaining business and £1m so that he is able to pay himself 250k for the year then rap everything up with nothing for us

The nett cash after disposal is equal to 0.03p per share

£ucking lying $astard

VOTE NO!!!

[parsons] 18/11/2011 19:34

Well Venlib how right you were are you sure you are not related to the buyer. The money from these shares will be much better invested elsewhere. Goodbye MSS.

[venlib] 17/11/2011 21:19

Because he's got cash to spare and can see a co ripe for a takeover maybe?

If the co wasn't top heavy with expensive directors/managers salaries + their expenses, then it might actually make a profit. Albeit the key profit making bit has already been sold off, but that tells a story in itself – the co is looking to off-load. Someone made a bid for the particularly lucrative bit and they let that go. Breaking up a co is often more profitable than selling as a whole. Now they'll look to sell to someone who A) wants the added turnover, B) wants an in to some of their clients or at least wants to knock out any annoying upstart hovering around clients they are already courting or have, and C) who recognise that the current Board aren't getting the best out of the clients/business as they don't have the skill-set of that particular industry and are now bored with the whole set-up

All the Boys know lots of other Boys and a sale of the final bit will have to encompass the release of the current board who won't be needed by the takeover bods. The result will be SB and cronies will get paid their 2 years? Salaries and they have a perfect opportunity to cash in their shares at the inflated sale price or by virtue of the shares that get swapped for the take over company

Nice earner for the board – i.e. gravy train for a few years – lucrative exit plan – goodbye MSS says SB et al, thanks for the ride

[dgwinterbottom] 06/11/2011 08:20

So why would a guy that owns a wild life safari tour business in Brighton by buying 6% of MSS?

[iiinvester] 04/11/2011 23:08

Coolmd knows nothing....just making it up as he goes!

[richmond9] 04/11/2011 18:49

Coolmd2

wheres the big announcement then?

[coolmd2] 04/11/2011 16:09

Yes, he's the alias for MW LOL...

[richmond9] 04/11/2011 09:59

he owns a wild life safari tour business in Brighton

[dgwinterbottom] 04/11/2011 08:37

Has anyone any idea who Mr Nathaniel Nabil Bouris is. He has been building an interest and now has 12,600,000 ordinary shares of the Company representing 6.01%. More to the point why?

[toad6] 03/11/2011 07:39

Thanks for that incredible insight (which we found out ages ago from Richmond...)

[w1ndjammer] 02/11/2011 18:33

i can say that about hundreds of stocks
but over here my average is 1.35p
so yes i expect to make money.
won`t be long before the company gets an approach with a bid.
the FOR SALE signe is up
imho.

WJ.

[philw2009] 02/11/2011 09:32

HAHAHA. I admire your determination to see the upside.

Conversely, it is also down about 90% from recent highs. Indeed it was above 10p last year and now it is just above 1p.

How many stocks can you say that about?

[w1ndjammer] 01/11/2011 17:32

philw

its 30% up off recent lows
how many stocks can you say that about.

WJ.

[philw2009] 01/11/2011 14:51

I did particularly enjoy 'yes and the share price continues to head north'.

Can you see the graph at the top of this page? It seems to tell a different story.

[toad6] 31/10/2011 20:42

You didn't buy a million shares. You looked at some trades but I've already established the trades you claim to have made were actually sell trades. This board doesn't need muppets like you claiming you know what you're doing when in reality you are just showing your ineptitude at grasping basic trading protocols.

I'm bored with your fantasies. Dull and uninteresting...

Zzzzzzzzzzz

[toad6] 31/10/2011 07:45

What plan's that Walter? The plan where you try to make out you've done well out of your fantasy plan which involved backwardating the market at the bottom and buying your next yacht on the proceeds of your fantasy trade?

[w1ndjammer] 30/10/2011 17:27

yes and the share price continues to head north,
love it when a plan comes together.

WJ.

[richmond9] 27/10/2011 16:03

Im not sure if the rumors of Inter S buying the company are correct.

I note the latest announcement on the company website from Jamie Reynolds is that "Trading is STRONG". Where have we heard that before?

If it really is strong then how can all the stuff below be taking place?

The IHG maintenance contract has finally been taken from MSS, with Capital Cooling taking over on 1st November. Thats minimum £2m per annum lost

The Interiors Division closed its doors on Friday 21st Oct (classic interiors)t/o was £2.5m

Ian Woods and a number of other senior managers are working their notice. Woods was £8m of t/o

Wilmslow Office is closing in December

[richmond9] 26/10/2011 14:55

company in doing DD at the moment

deal expect to be announced next week for sale of business to I S

Is that correct?

[richmond9] 26/10/2011 08:38

coolmd

its not like you to post rubbish

whats the big news and when should we expect it

[iiinvester] 25/10/2011 17:17

coolmd

still waiting.............