Henderson Mrly. Share Discussion Threads

[pranchalee] 27/8/2010 18:51

sorry dutch not long home totally numb need time to digest all this .Am sorry if anyone thought i misled them here as i have lost 100k today imagine how i feel my future today has taken a sad turn.I will miss this bb even though it has been downhill all the way.

[mike111d] 27/8/2010 18:45

Same here, as he must be doubly gutted with the news, seeing as he continued to add on the recent dip.

[dutch2] 27/8/2010 18:41

not heard from pranch all day, i hope he is ok

[spike9] 27/8/2010 18:30

Surely at some point something has to come to light about KHV ! I can't believe I've been caught by LGB and now this ! I am a numpty but never again !

[jimmyjagger] 27/8/2010 17:43

thefruits,
I fear the NOMAD has been negligent in signing off those accounts. It wouldn't matter so much if the subsidiary was a dormant sideline given up on but it turns out they were going around winning grants and setting up offices around the country. None of which was disclosed to HML shareholders who watched as their investment in the parent company went down the swanny.

3rd June 2009
Madison Animal Health business plan pitched in final of Technium Challenge event

25th June 2009
Pinnacle Associates won Technium Challenge 2009 on behalf of Madison Animal Health

29th June 2009
attended Venturefest 2009 at Kassam Stadium, Oxford

1st July 2009
meeting with Welsh Assembly

Last year's winners Madison Animal Health have recently set up their base in Newport, Wales. Managing Director Justin John: "The chance to launch the company in Wales is fantastic news"

[asapex] 27/8/2010 17:36

tilton,
agreed and the deal will most likely amount to the administrators fees and little more than that.

[tonyhicken] 27/8/2010 17:27

ask maxine tf she may know..but it all stinks to me all that bull talked at the AGMs etc a waste of time and money IMO...

regards

[tiltonboy] 27/8/2010 17:22

Just in after a day out, and caught up with the news. Whilst there is a glimmer of hope, the suspension of the shares is not going to make fundraising easy. I also have seen it happen too many times where the assets are sold off to the existing management, and off they go again. If an administrator is appointed, it might be sensible to get a quick phone call in, and suggest that you may be able to come up with an offer for the IP, however, you might find the deal has already been done before you can get there.

Sorry for all lth's.

[thefruits] 27/8/2010 17:15

From the accounts ended 30.4.09... last sentence is telling ????



The subsidiaries owned by Henderson Morley Plc at 30 April 2009 are:

Incorporated In % of Ordinary Shares held by the Group

Henderson Morley Research and Development Limited England 100

Exanol Limited England 100

Sci Tech Limited England 100

Frost and Simpson Limited England 100

Henderson Morley Biomarine Limited Republic of Ireland 75

Henderson Morley Research and Development Limited's trading activity is the research and development of drugs and vaccines for the pharmaceutical industry and has been included in the consolidated results.

All other companies have been dormant throughout the year.

So what about MAH ?

[ajax01] 27/8/2010 17:09

"Target market cap £27.2M"

Those were the days my friend. We thought they'd never end....................


LOL!!

[thefruits] 27/8/2010 17:07

Look at the chart on page 2..



No sign of MAH

[ajax01] 27/8/2010 17:06

tf - if this was to go under, I'd be able to live with it a little more (even though the financial hit will be massive) knowing that at least we weren't conned out of our money and that we lost it fair and square.

[mike111d] 27/8/2010 17:05

My pleasure TF and let's hope that yourself and other long term holders can salvage something from this situation. As you say though it is not that likely, otherwise they would have announced the funding package before now as and not the decision to appoint an administrator.

[jimmyjagger] 27/8/2010 17:02

Have HML broken AIMs Related Party transactions rule by not disclosing Madison Animal Health until administrators were appointed?


Related Party - Includes any company which is a subsidiary undertaking of the parent company

Disclosure of corporate transactions - Includes any transaction by a subsidiary involving a change in assets of the AIM company. The company must issue notification of any transactions without delay as soon as the terms are agreed, disclosing the following information:

(a) particulars of the transaction including the name of the other party;
(b) a description of the business and assets subject of the transaction;
(c) the profits attributable to those assets;
(d) the value of those assets;
- and any other information necessary to enable investors to evaluate the effect of the transaction upon the AIM company

[thefruits] 27/8/2010 17:00

ajax. No he didn't but he gave the impression that hml are seeking to sign up some sort of deal which they can then use as collateral to generate support from other 3rd party funding sources. i.e.. others who would inject equity are saying they'll they will put up funds on the back of hml delivering the goods (in some form or other).

He also said hml were very busy looking at alternative avenues of funding and had been doing this at the same time as the kms talks (which aren't apparently over) were taking place.

also agree with your point regarding MAH.

Can't understand why hml haven't been more open about this.

tf

[kishka] 27/8/2010 16:56

well incompetent or dishonest we will see, what i want to know is wtf has happened to KHV

for me it was the jewel in the crown after the trial results and it simply dropped off the radar

[ajax01] 27/8/2010 16:48

tf, I have always thought the directors are more incompetant than dishonest. To compare them with the mdx director's (as jw did) is extremely wide of the mark. In fact, if I'd known about MAH, I might even have changed my mind about them a bit - shows they had/have vision if nothing else.

I don't suppose NB gave you an indication of how much they're looking to raise did he?

[biffus2] 27/8/2010 16:42

Well at least we know now why it cost 80k a month, so many subsidairies to run as well

[thefruits] 27/8/2010 16:37

ajax

I approached NB and openly discussed the MAH position asking whether there was something behind it. Only at this point did he inform me that the MAH vehicle was established to separate it from HML (I presume as they are going to sell it). I was staggered that we've had this company operating for us and apparently doing rather well (at least it got a grant!) and we've had no idea that it even existed.

As for NB, I got the impression that he is playing a straight bat. No promises either way but got the feeling AK & IP are working their asses off to ensure their investment over the last 10 years isn't lost. Just seems they're either jinxed with bad luck or not so good in choice of would be partners.

tf

[jimmyjagger] 27/8/2010 16:36

Listed subsidiaries as disclosed to market before suspension
* Henderson Morley Research and Development
* Henderson Morley Biomarine
* Exanol Limited
* Sci-Tech
* Frost & Simpson

Secret subsidiary
* Madison Animal Health
- disclosed to market in Aug 2010 after administrator appointed
- registered / set up in Apr 2006 (2 weeks after share price spiked 850% dyor)

[ajax01] 27/8/2010 16:29

Oh well.

Thanks for the update tf - looks as if NB was telling you the truth. It also looks as if he took notice of the bb/your conversation because they've mentioned MAH for the first time. So much for the conspiracy theories. I was wondering what creditors they were trying to protect the company from (apart from the employees) and I guess many of them reside with MAH.

[asapex] 27/8/2010 16:26

Perfect timing,

Friday before bank holiday.

Gives the angry shareholders time to cool down and keep them off the phone eh!

[pelleeds1980] 27/8/2010 16:21

All these RNSs - keep the costs down guys!

[jimmyjagger] 27/8/2010 16:20

The question is

Why wasn't Madison Animal Health disclosed as a subsidiary in the company accounts

[pugg1ey] 27/8/2010 16:16

that was quick