Hampson Ind. Share Discussion Threads

[jordon] 04/9/2012 18:54

Likely outcome:- Private equity finance and management fingers stuck in the pie. Giving rewards for failed directors with futute equity option all hidden in a new private company. Mystic meg prediction or par for the course with some company directors and corporate "advisors"?

[tullynessle] 04/9/2012 18:53

Hampson Corporate DVD - Aerostructures

[minsky] 04/9/2012 18:43

Great brochure. It looks a great company.

[tullynessle] 04/9/2012 18:41

I believe that the three brochures below have been developed within the last year.

IMO the documents indicate that Hampson has excellent technical capability.

All a bit sad...............


- Corporate Overview
- Aerostructures and Composites Overview
- Tooling Solutions Overview

[tullynessle] 04/9/2012 18:33

The link at the pdf "Hampson Presentation" is interesting.

The document is marked "September 12"

[tullynessle] 04/9/2012 16:34

The Management of Risk page at the Investor Relations section of the Hampson website.



Investor Relations
Management of Risk

The Board attaches considerable importance to systems of internal control and risk management and acknowledges responsibility for them and for reviewing their effectiveness.

The Board's policy is to have systems in place that optimise the Group's ability to manage risk. Responsibilities for identifying, evaluating, monitoring and managing risks have been delegated to the Executive Directors. These are discussed at Operating Review Meetings to enable Executive Directors to advise the Board of any issues or new risks.

Processes are in place to assess strategic, commercial and financial risks and how these are monitored, managed and controlled. Group businesses review risks and a report on the principal risks the Group faces is considered by the Board at least twice a year. Health and safety risks are assessed by external consultants, who with the Group's insurance brokers and risk management consultants, ensure each business is aware of and trained in health and safety matters. Health and safety reviews are carried out and reported monthly and annual risk reviews are undertaken at each subsidiary.

The Board reviews the effectiveness of internal control and management systems by:

Considering Group strategy and approving an annual budget and medium-term projections.
Regularly reviewing operational performance and forecasts.
Retaining responsibility for acquisition, divestment and major capital expenditure and financing arrangements.
Reviewing the Group's pension arrangements, insurance and risk management programmes.
Receiving regular reports on environmental and health and safety matters.
Reviewing at least annually key management development and succession plans.
Receiving regular reports from the Audit Committee on the effectiveness of internal systems.

[tullynessle] 04/9/2012 16:32

The Corporate Governance page at the Investor Relations section of the Hampson website.



Investor Relations
Corporate Governance

As a London Stock Exchange listed organisation, Hampson Industries PLC complies with Section 1 of the Combined Code on Corporate Governance (July 2003) and with the updated section of the 2006 Financial Reporting Council Combined Code (July 2006). In addition, we have robust self governance controls in place to ensure that we comply stringently with our legislative requirements, employ best practice methods of operation and effectively manage risk.

The Board, which is responsible for the on-going success of the Company, has nominated specific responsibilities to three Board committees - the Audit Committee, Remuneration Committee and Nominations Committee. The performance of the Board and its Committees is regularly reviewed.

We provide our shareholders and investors with a comprehensive range of financial tools and resources in order to give clear visibility of our latest performance, share price, Board of Directors, Director share dealings and strategy. Shareholders attending the AGM are also invited to ask questions.

The Board also has a policy of having systems in place to optimise the Group's ability to manage risk. Responsibilities for identifying, evaluating, monitoring and managing risks have been delegated to the Executive Directors. Commercial, financial and health and safety risks are also reviewed on a regular basis by the Board.

Furthermore, procedures are in place to ensure the independence of our external Auditor and any non-audit services provided by the Auditor are reviewed by the Audit Committee.

[tullynessle] 04/9/2012 16:29

It appears that Odyssey Industries Inc are still active - the Detroit Regional Chamber list it as a "Major Company"



Detroit Regional Chamber

Extract:

PTAC

The mission of the Procurement Technical Assistance Centers (PTACs) of Michigan is to enhance national defense and economic development of the State of Michigan by assisting Michigan businesses in obtaining and performing on federal, state and local government contracts.

Home

Major Companies

(Around fifty companies listed - including the Company below)

"Odyssey Industries Inc."

[minsky] 04/9/2012 16:19

so 28th September is the next deadline (when the covenant waivers expire)

[granitetim] 04/9/2012 16:17

Hampson was a fantastic British Company ruined by the suits that ran it for there own gain ONLY.
Disgusting !!
They should be made to hand back the wealth they effectively stole from the shareholders and employees!
But this is Great Britain and that won't happen

[tullynessle] 04/9/2012 16:12

Another example:

April 28, 2012 - Texstars awarded Military contract for $122,950.

[loverat] 04/9/2012 15:38

Yep - one of the worst managements I have ever come across. They presided over a complete fiasco. Struggling to think of a bigger bunch of idiots than this lot.

[tullynessle] 04/9/2012 15:35

Article dated Aug 3 - Birmingham Post



Son of Hampson Industries founder slams 'disgraceful' management at firm
by Graeme BrownAug 3 2012


Article follows..

[minsky] 03/9/2012 11:43

that's over a month since the suspension and no news.
has anyone got any information?

[diku] 25/8/2012 11:36

jordon....maybe they will do a name change to disguise!....

[manicman182] 25/8/2012 11:21

My account on share center is still showing pre suspension investment ...
Hoping this goes in the right direction, but not holding my breath as this can go either way.

Had this situation last year with assetco, pulled out as they were about to go down. months later shares rocketed...

As with all AIM shares its a gamble .

[jordon] 24/8/2012 18:16

I expect that exising directors will be involved in some way and benefit either directly or indirectly in the subsequent company. May have to dig to find the body!.

[asterix96] 24/8/2012 16:49

broshm - Halifax are showing my 100K as £200.

[broshm] 24/8/2012 16:38

Do we expect a notice concerning the " temporary suspension " or is that the end of the share ?
My account says zero value ?

[troc1958] 14/8/2012 10:00

Tully - any response to your email?

[tullynessle] 05/8/2012 20:25

Sent the email below to Hampson.....

From: XXXXXX
Sent: xxxxxxxx
To: XXXXXXX
Subject: Boeing_ Resumption of Dreamliner 787 Deliveries - "Issue" resolved?

Dear Mr XXXXX,


Does the information from Boeing at the paragraph below indicate that the "Issue" has been resolved?

Kindly respond with confirmation or otherwise.


Extract:

"ANA has taken delivery of 11 Dreamliners so far, with 44 still on order. And over the next few months, you'll be seeing a flurry of 787 deliveries to more customers."



Boeing - Randy's Journal

Article follows.....

Regards

XXXXXX

Shareholder

[tullynessle] 05/8/2012 20:19

Does the information at the paragraph below indicate that the "Issue" has been resolved?

Extract:

"ANA has taken delivery of 11 Dreamliners so far, with 44 still on order. And over the next few months, you'll be seeing a flurry of 787 deliveries to more customers."



Boeing - Randy's Journal

Article follows.....

[tullynessle] 03/8/2012 12:28

Diku - Post 2545

To a large extent I agree with your comment.

However I suspect that the problem is also indicative of questionable contract negotiation and the agreement to terms that left Hampson exposed, (perhaps due to a weak contracting position).

Generally contractual Delivery Terms specify a window for provision of any Product or Service. Any delay in calling-off the product or Service is usually handled by, or may be addressed by, a formula that describes the means by which additional costs, (including additional financing costs), may be reimbursed or perhaps the contract allows for cancellation by either if there are material changes to the Scope of Work.

From information provided, the problems with the $53 million contract" appears to be a mixture of "scheduling delays" and "the Issue".

Whatever the cause, IMO, there does appear to have been significant management failure throughout the process.