Henderson Mrly. Share Discussion Threads

[trufflehound] 09/9/2010 08:28

For all we know it may have been Dunne who made the offer, but that aside,
why didn`t they make a bid for the company, in which case it would have
to go to the shareholders, seems to me the board are in direct conflict
with the wishes of the majority of shareholders, in which case surely we can do something?
Truff.

[jack1236] 09/9/2010 08:00

Guys it might be an idea to start a private BB, maybe on iii.

[kishka] 09/9/2010 07:43

AAA i think your scenario wont be too far off the mark

[aaainvestment] 09/9/2010 07:41

Any offer goes to administrators now, and administrators are interested in getting paid and must seek to satisfy creditors with any deal and not shareholders. That usually means the Bank or institution that has first charge over the assets and called them in; in this case its our two directors who rather sneakily kept the company afloat by putting us in this position.

Essentially that rather small loan at the end (that was little more than their wages paid back) has put them at the head of the queue.

As I have said previously our only hope is if 2 or more parties are fighting for the assets, no one will now be interested in getting anything back for shareholders.

It was clear months ago was that there was danger with our cash shortage that directors could be making plans to take over the business (whilst it was still running)if all went the way it subsequently has. I would not be surprised to hear that they have finance in place and have tabled an offer very quickly.

All IMO, DYOR

[pranchalee] 09/9/2010 07:06

least your still in the house ajax

[ajax01] 08/9/2010 23:16

Finally had to tell the wife the full consequences of my "investment" in this company. Needless to say, I'm writing this from the spare bedroom!! Luckily my two daughters are too little to realise what a di.k their dad is............

[ajax01] 08/9/2010 23:11

Do we know if they have transferred the khv ip to mah?

[ajax01] 08/9/2010 23:11

Thw white knight doesn't even need to communicate with us first - I suggest they contact the administrators first, after which we will surely get a chance to see the details and vote.

[ajax01] 08/9/2010 23:07

That was my point earlier tf. Now that the administrators are involved, it is they to whom any offer is submitted - not the BoD. It is the administrator's primary aim to ensure the company survives as a going concern.

I can't for the life of me see why the two half-wits would want the company to die - they have more to lose than anyone. It surely can't be a case of cutting off their nose to spite their face?

[spike9] 08/9/2010 22:07

I don't know what to believe here. Surely the administrator is there initially to run the company and would listen to any proposals ?

[thefruits] 08/9/2010 21:19

I think we need the white knight to make the terms of the deal offered to AK & IP clear and open but need them to do it themselves, not via anyone on a bb.

the shareholders need to be given an opportunity to consider the deal on the table

ak and ip with only 30% holding can't surely outvote the 70% remainder

if the white knight is reading this board then perhaps they have the means of communicating with the shareholding community at large ?

time is of the essence and there appears to be a chance of salvaging a deal for the good of the majority of the shareholding community not the undynamic duo

[pranchalee] 08/9/2010 21:11

the same offer cant be made because ak & ip are not wanted

[pranchalee] 08/9/2010 21:08

tf the offer can only be made to the bod

[thefruits] 08/9/2010 20:50

surely the white knight can now put forward the same offer directly to the administrator ?

[thefruits] 08/9/2010 20:49

so from what i can gather, a white knight offered a proposal to ak and ip that would have given shareholders some form of return for their shares but this was not offered to the wider shareholding community because IP and AK didn't want it

strange that.. surely ak and ip only owned 30% or so between them

don't understand how this wasn't offered to the whole shareholding community

i'm confused, angry and frustrated

If there is a deal on the table, then why isn't it being put on offer ?

[pranchalee] 08/9/2010 20:42

the reason why the deal didnt go through was that the two of them didnt want to part with their shares or take on a few liabilities.Ak was walking away with a good part of the company but obviously when it come to using his own money that was a no no. A lot of posters have been right all along about these two but there day is coming and i hope its not in court.The deal was agood one in that the shareholders still had a company going forward but AK never intended to sign any deal as this deal has been on the table from start of last week.

[kishka] 08/9/2010 19:09

thanks for the info pranchalee & dutch, none of what you say surprises me.

[ajax01] 08/9/2010 19:01

Dutch, pranch - why isn't the same deal put to the administrators? Surely the priority for the administrators is to keep hml as a going concern.

[dutch2] 08/9/2010 18:44

mrfruits - you have 1 private e-mail

[dutch2] 08/9/2010 18:43

th question now is: what value (£) will AK & IP achieve, by HML going into admin ? will going into admin be a better deal for ak & ip , financially ?
if so, th more they get, the more we should get. obvious they will get the 1st £70,000, but th rest should be EQUALLY shared amongst all other shareholders. i wonder how mr m p dunee feels ? or did he evry exist ? HML's
3rd largest shareholder ????

[dutch2] 08/9/2010 18:36

Only one man to blame and that is ANDREW KNIGHT. AK & IP were offered a deal,
to "walk away" from HML, and for a new firm to manage the HML business, keeping all the existing shareholders, and continue to trade. 2 new top directors were going to be appointed, on very, very, very low salary's, with a bonus scheme on any deals concluded. Andrew Knight did not care about any of us PI's , only his own selfish greed and pockets.. We have all been well and truly screwed. More to Follow....

[kishka] 08/9/2010 16:56

tf, id be mighty surprised if Ak and IP dont come out of this with whatever assets are available including any IP rights

seen it all before

i'm going to approach the administrators in writing about KHV, cos frankly that stinks, i'll post any reply i get, though i'm only expecting a standard no comment response

[tiltonboy] 08/9/2010 16:31

tf,

I would be amazed if anybody other than IP & AK buy the rights. What would be the final turn of the knife would be them signing a deal shortly after.

Are you not tempted to speak to the administrators, even if it's just to throw a spanner in the works?

tiltonboy