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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Merchant Hse | MHG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0425 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0425 | 0.0425 |
| Top Posts |
|---|
Posted at 07/5/2013 22:22 by giantpeach2 May he rot in hell, and the others also responsible for leading investors on!! i.e promise of dividends etc. |
Posted at 24/4/2013 09:28 by macsam Two directors of collapsed Merchant House Group have joined a new structured products company as partners. Structured products director and operations director of Merchant House Group, John Gracey and Tony King, have joined London-based firm Mariana Capital Markets LLP as partners. Merchant House Group, Merchant Capital's parent company, went into administration earlier this month after failing to pay liabilities relating to the liquidation of its structured product arm Merchant Capital. Merchant Capital was put into administration in January of this year. The pair joined Mariana Capital on 14 and 15 February 2013 according to Companies House, several weeks before Merchant House collapsed. Mariana Capital was set up in 2009 to offers asset management and advisory services. The company launched its structured products division earlier this month. The website says: "A primary focus of Mariana is to offer products on a bespoke basis for advisers who have investors that would like exposure to more exotic and innovative markets. "We specialise in the construction of structures that provide exposure to underlyings including emerging markets, commodities or portfolios of individual stocks tailored to a client's interest and knowledge." Mariana Capital Markets is current offering a product called FTSE/S&P Kick Out, with a coupon of 8.4% and a barrier that is 50% European with underlying FTSE 100/S&P 500. Prior to working with Merchant Capital, Gracey was financial director at failed structured products company ARC Capital & Income (ACI) the operating company of the London-based Arc Fund Management Holdings. The Financial Services Authority investigated ACI's role in selling Lehman-backed plans in 2008 and the company was taken into administration |
Posted at 23/1/2013 22:07 by the ross Yep L. I'm done now sadly got some other holdings left but that's it for me. Will be bidding you all goodbye in the near and distant as sadly caught out way too deep here. Have sat it out however and took the decisions myself so learnt a valuable lesson. Made different contacts along the way and over the last few weeks. I'll leave it there and say no more. What I will say is, this has impacted everyone. Even some that have tried to help sort out the problems at MHG. So money lost all round on a big scale. Question is now if us that are registered will be classed as anything but that fact. Cant see others on the list of larger investors being happy to lose their investments and will be higher up the queue of course from whatever is left.Still cant understand how investment would come in to try save something that couldn't effectively be saved even though profits were being reported. There in lies the quandary. Cheers All and all the best with your investments in the future. |
Posted at 05/1/2013 11:13 by loverat I think this all adds up to the game being over here. If you look at previous companies some of these directors have run, they normally announce suspension and delisting but leave investors hanging on to some hope. Drip feeding news and cosy chats about being relisted is a possible tactic designed to take the heat of them to encourage people not to complain to the authorities/contact the press and to wear investors down to a stage where they will finally simply walk away.If you look at OCH where the management just came out with the facts, this has resulted in a very effective and large action group being operational in the space of weeks. There are too many people here hoping that something can be salvaged hence there would not likely be the same cohesion. Not that I think an action group would be the answer here in any event. |
Posted at 29/11/2012 18:26 by mike111d The bar is set somewhat lower on GXG and will be a measure of last resort for the company, the issue IMO is that even there potential investors will not take them seriously all things considered. So it will come down to if they can raise further funds from connected parties to get such a listing off the ground, in the hope that they could then get their money back further down the line via yet more spin such as the prospect of dividends to be paid etc. On the one hand I hope that they can pull it off for TR and others but on the other feel that new investors need to be protected from history being allowed to repeat itself. |
Posted at 29/10/2012 12:09 by mike111d It seems evident to me from the RNS that as suspected it is a lack of funding and apparent viability of the business that is preventing the regulators from allowing the stock to resume trading. Essentially whilst they have grown revenues to an extent this has been at the expense of incurring larger operating losses which in turn have taken the level of indebtedness to an even higher level, with creditors now requiring paying. This is not sustainable however they attempt to dress it up.So all told the RNS confirms that you are effectively between a rock and a hard place. Either they manage to raise further funds beyond those pencilled in from Beia to settle debts and provide the working capital that is not being thrown off from current operations or they will have to proceed with a cancellation of the listing as flagged in the RNS. Essentially you will either be diluted if they can secure new funds or the shares will become worthless if cancelled. Sadly there is little that can be done about this and they have IMO attempted to cover all bases with the contents of the RNS released this morning. Just a thought, the regulator may consider it appropriate to let the de-listing proceed leaving the company to raise funds and continue trading off market, thereby protecting to some degree the investors of MHG investee companies, whilst preventing new investors from potentially exposing themselves to an equity stake here. Not based upon any further research but I would surmise that further to the RNS this morning that the regulator has most likely given them a further week to either bring in the additional funds or de-list the stock, as this situation cannot persist indefinitely. In fact the proposed 5/11 AGM date could well be your cut off point. |
Posted at 30/8/2012 07:41 by pwhite73 edjodav 29 Aug'12 - 14:29 - 2500 of 2501"these directors are incompetent they cant even get results out when they issue a rns stating that results will be released at the second half of august." The results cannot be released without a 'going concern basis'. The going concern basis cannot be stated without approval of the new finance package from the FSA. Given the appaling history of this company there is no guarantee the FSA will approve these new arrangements. Indeed the company advised shareholders to that effect. RNS Number : 8584I Merchant House Group PLC 31 July 2012 "Further to the announcement on 26 June, the application for approval from the Financial Services Authority for Beia LLP's GBP400,000 equity investment is in progress and the directors are unable to anticipate when a decision will be forthcoming" For my part the FSA may agree to it but as a non-listed trading company. Under those circumstances the new investors will have no option but to recover their investment from the trading performance of the company. If listed there is no doubt the new investors will attempt to recover their funds from existing shareholders through further dilution down the line. That is the history of this company. All shareholders can do now is wait and see. |
Posted at 27/6/2012 01:22 by jlo10 Some info - doesn't prove anything but at least they have a formal educationJames Keane, Managing Director 15 years investment banking and capital markets experience. Involved in more than USD 10 billion of public and private financings. Prior to founding Beia Capital in 2009, was Director of capital raising at Rasmala, a leading Middle Eastern investment bank, and previously held senior sales and capital markets positions at JPMorgan and Deutsche Bank. BA from University College London and Corporate Finance Programme, London Business School. Stephen Drew, Real Estate Advisory More than 30 years of real estate investment management experience. Previously St Martins Property Group, the UK based real estate investment vehicle of the State of Kuwait, and Eagle Star Asset Management (now Threadneedle). In addition to his real estate experience, Stephen has led principal investments in to a US based e-commerce company as well as a gold mining company in Africa. BSC in Estate Management from the University of Greenwich. Beia Capital Beia Capital is an independent financial services firm operated by five principals focused on providing an exceptional standard of independent advice and capital-raising services. We work with clients from across the globe, and with senior management based in London and Dubai, the firm has an extremely strong distribution network in Europe and the Gulf. The firm's senior management, James Keane and Simon Schmidt has more than 28 years experience of public and private capital raisings, regional cross-border M&A and investment advisory in Europe and the Middle East. Collectively, the team has more than 90 years of investment banking and investment experience in the region. Beia Capital helps source equity, debt and hybrid capital, and provides advice to financial investors on their investment decisions, always seeking to deliver first class wealth creation opportunities to its buy-side clients. The source and origination of all of our capital raising mandates emanate from our buy-side clients. Via our deep relationships and active dialogue with investors in Europe and the Middle East, we focus on originating the most pertinent investment opportunities for our investor network, bridging the gap, matching the right investor with the opportunity in focus. Selectively, we also make opportunistic proprietary investments in small early stage and turnaround companies across regions. To date, we have committed |
Posted at 25/6/2012 13:20 by bubble pricker Loverat, of course claims can be coordinated and affected shareholders can exchange information on strategy etc. I will be happy to share my statement of claim against Mr. Holmes, once I file it in court (which I can do only after it has become certain that my investment is lost), with other affected shareholders. My point was merely that it is better to bring several small individual actions in the Small Claims Court rather than a large class action. In addition, each case will be slightly different, based on what decision the investor made based on what information. In the case of those that attended the series of meetings in February, the focal point is on the statements made during those meetings, for which there are many witnesses. It is fairly easy to pinpoint a subsequent investor decision to hold (i..e not to sell) or buy more based on those statements. For those investors that participated in the 15p PP, the focus can be on the info memorandum and the statements made in the run up to the placing. For other investors, building a case purely on the allegation that RNS statements were misleading or that directors have neglected their duty of care, this may be more difficult, but not impossible. |
Posted at 04/5/2012 20:46 by zitec UPDATE NOTICE TO EX-PRITCHARD/ MERCHANT CAPITAL CLIENTSBy Adrian Barnwell FRIDAY, 04 MAY 2012 Friday 4 May 2012 noon Reyker has now written twice to all clients of Merchant Capital Limited who had Structured Products plans held by Pritchard Stockbrokers Limited. Our first letter was dated 19 March 2012 and the majority of investors responded to this letter appointing Reyker as their new administrators and custodians. Merchant remains your plan manager. In the last week of April we wrote to all of these investors thanking you for returning the signed letter of Agreement and transfer administration fee. This letter also enclosed a statement of holdings and your portfolio valuation as at the end of the tax year. We also sent, as we are required to do under our agreement with the regulator the FSA, all investors who had not sent us a Letter of Agreement, a follow up letter requesting a response. This second formal letter also enclosed a portfolio valuation. The 19 March original letter was referred to as being available on our web site as detailed below. What happens for investors who have not returned their Letter of Agreement? For clients who do not respond to this second letter within a short period we must undertake a further follow up process and this will commence in about a weeks time with a programme of letters, emails and calls from both ourselves. Merchant Capital Limited are assisting us with this process via their IFA contacts. This is a costly process, hence the transfer administration fee is scaled so that investors who responded early in the process are not penalised. Our period of regulatory forbearance ends on 1 June 2012. Shortly after that date we will report to the FSA on all clients that have not responded to us. We may need to take special measures in relation to such investors ranging from using the electoral roll, through credit reference systems and in extreme cases using private detectives to trace them. The costs of this will affect the investors concerned. We have a fiduciary duty to trace investors so that we may return their investments to them when they redeem (or sooner in some circumstances). It is therefore very much in investors interests either to appoint Reyker as custodian and administrator as set out in our letter of 19 March 2012, also available from Any investor may choose a different custodian if they wish and the procedure for this is set out in our letter of 19 March 2012, a copy of which is available on our web site as per the link above. What if you have sent in your Letter of Agreement and/or Transfer Administration Fee but you have still had a follow up letter? Please don't be concerned. There are anomalies for a few clients. The reasons why this may have occurred include: 1 Early in the process, typically in late March, we received a number of BACS payments for the transfer administration fee that did not contain an account reference or contained the wrong account reference. There are some 300 of these remaining and we are endeavouring to match them to Letters of Agreement. Unfortunately in many cases the payments do not include an account name either. 2 In some cases clients have sent in a Letter of Agreement but the transfer administration payment was made by another party, such as your IFA. In most instances we have been able to match these records but a small number require resolution. 3 Some payments by cheque have become detached from the Letters of Agreement or have been sent separately when investors realised they had forgotten to include one or another. Again, this is a small number and our team is resolving queries as we work through the process. 4 We have received some responses from investors who have completed their Letter of Agreement but forgotten to sign it (we must have an original signed copy) or who have forgotten to sign their cheque. 5 A few cheques have been returned by the banks marked return to drawer. Hence we need to refer these back to the original investor. 6 Finally, a great deal of post arrives every day and between the cut off point for printing our second letter and the date investors received it, they may have responded. This is inevitable when dealing with many thousands of clients. Hence, if you sent your correspondence back to us shortly before receiving your second letter, it is most likely that we have already updated our database by now. If in doubt, please email us at merchant@reyker.com Accounts being handled by executors We are also dealing with a number of issues where the original investor is deceased, including some for whom this event was notified to Pritchard some while ago. It is necessary for us to obtain original documentation in respect of executors and probate, so that we can verify the position and arrange redemption. In a number of cases the database records that we inherited unfortunately do not identify that an investor is deceased. This can be distressing for those involved, and we regret having to ask for details to be sent to us but assure clients that we will process deceased redemptions as soon as we have probate documentation. As Reyker is responsible for handling client assets and client money post 9 March 2012 we do need to have original documents sent directly to us. We cannot obtain them from Pritchard / Mazars. All records sent recently to Merchant relating deceased accounts have, so far as we are aware, now been passed to us. If in doubt please would executors email us at merchant@reyker.com Resumption of income distributions We are pleased to confirm that we have now begun to resume income distributions. This is being organised on a plan by plan basis and income payments to the first batch of clients went out on 30 April 2012. The process is continuing. Where clients have two monthly payments due perhaps for March and April income distribution, we are making these as two payments two your bank account. This is so that you can recognise the distribution for each month. As previously explained, we are only able to make income payments for funds received by us after 9 March 2012. Any funds due to you for the period prior to that will be affected by the Pritchard insolvency / special administration proceedings and investors will need to query this with Mazars LLP please. Recent communications from Mazars LLP special administrators of Pritchard As investors will be aware from previous communications, all client money held by Pritchard prior to 9 March 2012 is being handled by the administrators. Reyker does not control any of this client money and we have no records in respect of any of it. Unfortunately it would appear that recently Mazars have been suggesting to investors for whom Pritchard held client money, that they should contact Reyker for details of their holdings. We have had a large number of calls about this in recent days. Regrettably we are unable to be of any help, simply because we have no information about cash held by Pritchard's and can only suggest that clients contact Mazars or Merchant directly. Contact details are kept up to date in our FAQ section. A Barnwell Head of Risk & Strategy Reyker Securities plc |
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