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Mouchel Share Discussion Threads
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|Kier launches takeover bid for Mouchel
Kier has confirmed that it is in talks with consultant Mouchel over a possible takeover|
|Well said Knigel, it's the real ugly side of capitalism & legalised fraud. The shareholders & creditors of the Company get shafted, while phoenix style recoveries occur. This happened to me four times now.|
|Sunday Times - 13/7/14:
MOUCHEL, the road repairs and outsourcing company swallowed by its banks during the financial crisis, is plotting a remarkable comeback that could value it at up to £500m.
Less than two years after investors forced it into administration by rejecting a token 1p-a-share offer, the company is believed to have appointed the investment bank Rothschild to explore a stock market float or trade sale.
Any deal, which is unlikely until the new year, will net hefty returns for its lenders - Barclays, Lloyds and Royal Bank of Scotland - which wrote off £87m of debt to seize control. About 20 senior managers, including the chief executive Grant Rumbles, are also in line for a windfall of up to £75m in shares for turning the company round.|
These two comedians would like to say 'thankyou' to the shareholders..
|Ah TOMMY THE TRUTH posts on here aka highlyirrational.
Dont believe a word that guy says folks... Jackanory :)
Lives in canada you know but posts day and night :)|
|Will we find out how much the administrators make out of this ? £??M ?
I have seen things like £125/hr for clerical workers , take your figure for a qualified bod .|
|However, on Friday Mouchel said shareholders had rejected the plan and that it expected to soon appoint administrators who would sell all of its assets to affiliates of its lenders and management.
How can the company be sold off to management they created this mess drove the share price down deliberately and miss managed the company|
|bonuses all round i reckon|
|Surely some jailing is due?|
|Take responsibility for your own investment decisions and actions. - assuming a fair playing field surely?|
|nathan, I nor I suppose anyone else invests solely on what they read on the boards. However, investment decisions can be influenced by what is written on the boards, because other posters may offer different opinions or point out aspects. Of course in the end, one makes one's own decision based on all the information available.
I would not disagree that what the BoD is doing here is disgraceful. They are clearly securing themselves their jobs and some stake in any potential future upside of the business. However, the equity in MCHL is worthless, no matter what deal is or isn't struck. An equity investment is risk capital and it comes last in the pecking order behind creditors and everyone else. If there is no value in the equity left then shareholders get nothing. That is the basis of equity investment.
As for the announcement of 11 June, if a company tells you that "there being only limited value for existing shareholders" you had better believe it. I have in the past 9 months shorted no less than 4 companies, including MCHL after such announcements, three of them to zero or near zero and MCHL to 1p. These short bets are a virtually guaranteed winner, because even after such "no value" announcements, the retail investors stubbornly believe that somehow some value will be realised and thus provide a shorting opportunity. Even now, someone is posting on this board that maybe a "predator" bid will come along.|
|BP - AGAIN - We are getting nothing anyway!
This is clearly manipulation by the board and they come out on top. Not on my watch .
Everyone understood that we would get a limited value - but 1p does not represent fair value or the value of the company.
The BD are making money at the shareholders expense...
Basing your investment strategy on what is written on this board or any other board is not wise.
Are you honestly telling me you read boards and invest based on what is written on them?|
|Still Waiting, if shareholders reject the deal they receive nothing.
KNIGHT, it is always funny how investors who time and time again will not listen to the warnings on these boards afterwards want to call the police or file a Downing Street petition. Take responsibility for your own investment decisions and actions.|
|all shareholders should reject the deal...
it rewards failure... why do shareholders put up with this?|
|I think calling the police would be more appropriate KNigel - this is just robbery under another name.
If I were a bank I would not take over this company. I do not think it is a good investment even at the dfe conversion.
Surely staff morale would be rock bottom? and when they hear that management are to receive a royal handshake of between 5 - 20 % (It is reported depending on later sale value)- what would that do to staff their loyalty to the company? How will they serve the Client? I think a lot depends on how they currently view management.
The only way to circumvent this is to give the staff (workers!!) a stake in the company. I would split the 20% in question- management 2% and give the staff 18% so long as they remain with the company.
To my mind this is still a bad investment.|
|Any point of setting up a petition on the Downing Street website or writing to Vince Cable? (because this all stinks)|
|'Shares in Mouchel, which were trading at 55p a year a ago, closed at 99p on Friday.'
They've got this wrong - surely they mean 1p?|
|Mouchel chairman David Shearer could get up to £900,000 under rescue deal
David Shearer, chairman of engineer Mouchel, could receive up to £900,000 from the rescue deal which wiped out shareholders.
11:27AM BST 05 Aug 2012
He receives a fee of £150,000 a year as chairman and Buchanan Shearer, a consultancy created two weeks before he was appointed to the role, is entitled to £100,000 plus VAT.
The consultancy also gets an additional fee of £400,000 in the event of a capital restructuring and not less than £250,00 if it changes control, according to the restructuring document.
Shareholders received 1p a share, or £1.14m in total, after Royal Bank of Scotland, Lloyds Banking Group and Barclays took control of the support services group via a debt-for-equity swap. They will hold around 80pc of Mouchel - 30pc, 26pc, and 24pc respectively.
Mr Shearer, a former senior partner at Deloitte, is a turnaround specialist who led the successful restructuring of Crest Nicholson.
The rescue deal is set to secure the future of Mouchel and the jobs and pensions of its 8,500 workforce, although if shareholders reject the proposals at a meeting next month then the company will be placed into administration.
Mouchel, which first introduced concrete to the UK in 1897, has been badly affected by public spending cuts and debt-fuelled takeovers prior to the financial crisis.
Under the deal, the bank took shares in return for writing off £87m of debt, leaving Mouchel with £60m of debt.
The management team led by Grant Rumbles, who was parachuted in as chief executive to rescue the company last year, will take the remaining 20pc of Mouchel.
This stake is designed as an incentive to ensure the management team stays with Mouchel and will vary between 5pc and 20pc depending on the exit price the banks achieve when they sell the company.
Mouchel manages traffic on Britain's motorways through roadside screens that can enforce temporary speed limits, and also has agreements with local authorities to provide a broad range of basic services, such as road maintenance.
The company is now worth less than £3m after being valued at £537m four years ago and rejecting a £330m takeover bid from VT Group in 2010. Mouchel faces default on its loans on August 31.
Shares in Mouchel, which were trading at 55p a year a ago, closed at 99p on Friday.|
|is there a risk the 1p dividend will fail?|
|Couldn't care. My £5k shares now worth£10 , time to vote against and send Mouchel into oblivion.still can't comprehend how Rich Cuthbert managed to ruin all the strong consultancies he acquired|