Henderson Mrly. Share Discussion Threads

[thefruits] 09/9/2010 11:32

3doogle

Thanks to the wonders of archive.org they cant scrub the HML website

Even the old design in all its glory is still stored forever

tf

[thefruits] 09/9/2010 11:31

AAA... the administrator will be paid say £30k for a weeks work. His job is solely to try and see if there are any interested parties and to sell to the highest bidder. Thing is, AK is in an incredibly strong position because of what he has done to engineer this company going bust.

The administrator will accept the BOD offer today unless someone comes up with an offer that trumps AK. Thing is, AK can't lose. And to top that, nobody wants to give AK another penny, but if they do trump the BOD offer, thats exactly what they would be doing.

AK should be ashamed for what he has engineered. He wont be though as he's about to be given several million pounds, courtesy of HML's loyal shareholders.

Incl my £120k

Makes me sick

tf

[3doogle] 09/9/2010 11:28

TF, you may need to make a copy of all the rns announcements as evidence pending any action that may be taken at a later date.

The HML website could soon be scrubbed out, leaving it difficult to prove any discrepancies in what they told shareholders and what they did not tell shareholders.

3d

Ps as the saying goes..don't get mad..get even.

[thefruits] 09/9/2010 11:26

dutch

No. Not a sausage. Basically AK appears to have engineered this so that if, for example, you and I put a £1m offer for the company, then he would get 80% of it and the other creditors (£200k) would get the other.

The more money we put forward, the more he gets. Other shareholders get nowt.

This appears to be a complete setup. AK & IP appear to have been planning this for a while.

The only hope is for the DTI to investigate (which they will only do if enough shareholders write to them asking them to do so). They are duty bound to look at all administration cases but there are alot. If enough PI's approach them and say

'I am a shareholder in Henderson Morley that has just applied for administration. Over the last 10 years, HML have raised £10m from the markets, have paid themselves very generous salaries, and have set up a scheme where we pay Canary Wharf Rents for an office owned by the CEO. They have just applied for administration and the BOD have made a low ball offer to the administrators for the IP to the detrement of the shareholders. Do you think shareholders have been treated fairly'.

Or something like this. Then the DTI will launch an investigation and AK / IP will not sleep so easily.

Its the only hope of seeing AK & IP suffer for their theft

Needs to be at least 30 (my guess) shareholders asking the DTI to investigate.

tf

[aaainvestment] 09/9/2010 11:24

If as the administrator says the IP is worthless - then why would the directors want to buy it?

Also if they had made any personal provisions to buy the company prior to administration then are they not guilty of a crime - this could include discussing with associated parties of seeking bank finance!

The administrator is at fault for if he jumps at an offer from the ditrectors at such an early stage.

All IMO, DYOR

[jack1236] 09/9/2010 11:21

How about a court injunction, we've got grounds, it stops things in there tracks.

[dutch2] 09/9/2010 11:09

thefruits - money that the admin will receive ( 7-figure sum ), where will that go ? surely there must be a little left over for shareholders ?

[thefruits] 09/9/2010 10:38

Sorry guys. This can't be stopped as it appears that AK has well and truly screwed us.

Sorry but it is really game over

I don't think AK should be able to rest easily though. Truff is right, if enough holders from here contact the DTI then they will be duty bound to investigate how he and IP have manufacturied this collapse and the impossibility of anyone else being able to trump his offer which the administrator is now duty bound to take.

AK and IP will now take on the IP, with no debts, and will be able to approach KMS etc and take whatever offer they put on the table

AK was offered a way out that would have secured a return for shareholders

he decided against it as this way now is more beneficial for him

sorry dutch, pranch, and everyone else

AK has screwed the lot of us

tf

[johnwalton] 09/9/2010 10:35

tc

what actually did you say to the two manipulators


did it make a difference? NO is my guess

I still stand by my post. They are trying to buy this back so they
can concrete the company.

You guys need to make sure before you try and buy this that the ip's
are not dud's.

The best way to do this is get an appointment with the admin guy and
make all the right noises for a purchase and do duediligence.
When doing any deal it should allow you a chance to examine the records.

[tonyhicken] 09/9/2010 10:28

I see shareholders are moaning now after the horse as bolted etc..where were you at any of the AGM`s to have your say..???


regards

[johnwalton] 09/9/2010 10:22

Guys good luck

Just make sure that you all act as one.

Do not let these guys start again.

[pelleeds1980] 09/9/2010 10:16

What about Madison Animal Health?

[trufflehound] 09/9/2010 10:07

Just spoke with Mr povey, nice chap, very much on side of shareholders,
had the assets valued, basically worthless, apparently Knight @ Pardoe
didn`t inform them of offer, but they have contacted a couple of companies
who they thought might be interested, nothing, said what we need to do
is find out who made the offer, suggested the nomad might know, also said
if there is any sign of fraudulent action, would report both to DTI.
Truff.

[ob4] 09/9/2010 10:00

GO ON LADS, SEE WHAT YOU CAN DO. I'm happy to help in any way I can, (as I have lost over £100,000 on this) - your efforts are appreciated, we should not just lie down without a fight.

[chicken_george] 09/9/2010 09:54

Just tried to call Craig Povey - but he was busy on another call :-)

I've left a message for him to contact me.

Don't let the two half-wits 'rob' you.

[thefruits] 09/9/2010 09:43

BTW.. this can be stopped

Phone

Craig Povey
Job title: Partner
Email address: [e-mail]
Phone number: 0121 454 4141

[thefruits] 09/9/2010 09:42

OK

Here's the latest

The board are trying to buy the assets TODAY from the administrators

THe contract is ready to sign and the board are pushing to get it completed

They have put in a 6 figure offer to buy the IP and take the company private

The administrators were (until just now) unaware that an offer has been on the table to AK & IP

AK & IP should have disclosed this to the administrators as it would then allow the administrators time to consider this bid

I'd urge all shareholders on here to phone Craig Povey and see what they can do

Especially Pranchalee and Dutch2

Also phone the white knight

I'm trying my end

tf

[dutch2] 09/9/2010 09:25

ICVT is worth £3mill, and KMS were willing to pay this. but decided that HML are in financial trouble and waited to buy it "cheaply" from admin. KMS will now face competition, and there will be a bidding war for the ICVT !!!

[chicken_george] 09/9/2010 09:24

The White Knight simply has to talk to the administrators. The BoD are no longer in control of the company.

[dutch2] 09/9/2010 09:22

thefruits - are you planning to speak to the administrators ?

[thefruits] 09/9/2010 09:14

JW

I'm not entirely sure I can buy that scenario.

Ronald Roberts
Guys from ACVD
Recent guy on ICVT
Paula Reynolds
Guy from Idaho Aquaculture
Guy on Swine Flu
Guy from Cancer UK

All are very notable experts in their fields. Why oh why would they have allowed themselves or their reputatations to be sullied by such a scam.

However, I'm completely at a loss why AK & IP would walk away from a deal that would have kept HML running and out of the hands of the administrators

Its as if they have deliberately decided to trash the company

Tends to suggest if someone else (as the white knight proposed) took over, AK & IP might be worried something might be found out ?

I wonder what skeletons are out there ripe for discovery ?

tf

[joe say] 09/9/2010 08:34

Truffle - look at the Companies Acts - directors have a legal duty to act in the best interests of the company taking into account all parties interests (eg creditors, employees and shareholders)

Somebody needs to test the legislation and from what I see here this would seem to be a good contender imo

[kishka] 09/9/2010 08:31

if an offer was made for the company the board have to inform shareholders