Henderson Mrly. Share Discussion Threads

[dutch2] 09/9/2010 12:56

it just get's worst....WE were all under the impression that HML was 100% debt free company. Guess what ? AK has drawn up a list of CREDITORS, totalling
£1mill owed. why was this not mentioned in the last set of accounts ?

found out this info from the admin team....

UNBELIEVABLE !!!!!!!!!!!!!!!!

[squiresquire] 09/9/2010 12:55

According to Mr Povey time is of the essence and if anyone can come up with evidence that the directors had an offer for HML then something can be done, but it needs evidence, it would seem that Povey and Co have thoroughly checked the board process and can find nothing wrong, basically directors can do this and get away with it unless you can get proof of mis-behaviour

[pelleeds1980] 09/9/2010 12:55

I've got time tomorrow guys so Ill be chasing this as this was a very opaque operation....

The more that shout about MAH and KHV the more notice will be taken

[thefruits] 09/9/2010 12:52

We own 100% of Madison Animal Health but it would seem that as it didn't appear in the Financial Accounts at all, the administrators probably don't know it exists

[aaainvestment] 09/9/2010 12:51

pelleeds1980 - JUST GET THE MESSAGE "YOU DO IT AS WELL" the more complaints the more likely a result - I have already rung the administrator and emailed

Everyone that has lost money should act if you feel you are being cheated - would you just stand by and let someone steal thousands of pounds from you without complaining to the authorities? So why roll over and accept this if you believe our representatives have taken any action to further their interests at our expense.

All IMO, DYOR

[pelleeds1980] 09/9/2010 12:49

Surely we owned a share of that then?

[thefruits] 09/9/2010 12:42

Madison Animal Health is not in administration. IP is still the director there and I daresay after today, MAH will own the KHV vaccine.

[pelleeds1980] 09/9/2010 12:41

Are you guys mentioning the Madison Animal Health outfit in your communications?

any phone number for them to see if they are still going (Google not bringing up much)

[dutch2] 09/9/2010 12:36

susiebe - check out thefruits post nr. 5726, there is a link to follow..

[susiebe] 09/9/2010 12:34

Can some one give me the DTI email please?

many thanks

[dutch2] 09/9/2010 12:28

i have just e-mailed the DTI

[jack1236] 09/9/2010 12:25

Does Mr. Dunne actually exist?
We need find Mr. Dunne if he actually exists.

[johnwalton] 09/9/2010 12:24

why not get together[safety in numbers}
and pay the t--t a visit.

Might not do any good but it might give him/them a shock.

[jack1236] 09/9/2010 12:23

Who selects the Administrator?

Truff

Good post.

[mike111d] 09/9/2010 12:19

When in recent months I had suggested that you might see a low ball offer surfacing I did not envisage that it would play out quite like this. The turn of events here is quite shocking and explains why the BOD appear to have kept shareholders at arms length over the years, whilst applying smoke and mirrors i.e. large salaries funded by placings being used to acquire shares to suggest their commitment to the company.

I truly feel for all the long term holders here, as it would seem that there is little that you will be able to do to prevent the IP being acquired for a song.

[thefruits] 09/9/2010 11:57

JW

Unfortunately it doesn't work that way

Do you realise that if I offered £2m (AK has apparently offered a 7 digit sum to the administrator), then AK himself would pocket about £1.5m.

If I offered £3m, then AK pockets £2.5m. He owns the offices and will claim to the administrator that HML owe outstanding rent and wages for him to cover this.

Do you really think given AK's pockets, that he's going to struggle to always out bid us.

He only needs to find enough to cover the other creditors, of say 500k.

The reason nobody will outbid him is everyone despises him and what he's done. Nobody wants to give him another penny.

The way to get retribution will not be via giving him more money.

Shareholders will need to be more creative, such as bombarding the DTI ( or the MP's listed on that page to launch an investigation.

AK will not like this one bit

As for Mr Dunne. My punt is that he's going to do nicely out of this as well.

tf

[johnwalton] 09/9/2010 11:52

tf

I think you will find if you research Maxines compay

one of the directors had or has a connection.

[johnwalton] 09/9/2010 11:49

yes there is

force him to pay more.

a bit like name that tune.

If they want to bury this can of worms, the last thing they want is
you lot getting your hands on the worthless ip.

[thefruits] 09/9/2010 11:48

Truff

Well thats another question all together.

If we can prove that SPAH walked away from HML and the market wasn't informed of this then AK will be in very hot water as he's effectively raised money under false pretences

Same with the ICVT deals. Did they really exist ? Was there really 2 parties

Again, he pushed the begging bowl on the back of this

Who knows the truth ?

Neil Baldwin ?
Maxine Barnes ?

Unlikely as it seems they were spun the same yarn (as me)

AK & IP and the other patsy's on the non exec board

How to find out?

Guess the best route would be to get someone to ask SPAH.

But who ?

tf

[milliecake] 09/9/2010 11:47

the fruits, do you have contact details for the DTI please? I'm not invested but I know two shareholders who are, I'm sure they'd be interested.

[thefruits] 09/9/2010 11:44

I can assure you that Craig Povey is dealing with this and I spoke at length with him first thing. He's based in Birmingham. Didn't try to give me the brush off. He'd welcome the opportunity to discuss with any other potential bidders for the IP, and if someone can give some sort of assurance that they can raise the money to trump AK & IP's offer then ok.

Thing is, as I understand it, AK has pulled some sort of rabbit out of the hat that would mean he can't lose either way. He'll end up buying the company for shirt buttons.

Honestly, he's going to pick up HML for next to nowt

And there's nothing we can do

tf

[aaainvestment] 09/9/2010 11:43

How can the administrator say there is no value in the IP when he has only made a couple of calls and there were supposedly parties interested in buying it for months.

If it has not value there must to something fraudulent here with RNS's not to mention fund raising exercises.

All IMO, DYOR

[trufflehound] 09/9/2010 11:42

Fruits, think your missing the point here, it`s not a matter of who
gets the IP, as far as the administrator is concerned it`s virtually
wothless anyway, it`s the fact that did any of it exist in the first
place, all those collaborations, all the hype about submitting a vacine
to SPAH, if it was all concocted, or exagerated to illicit funds from
shareholders, that`s fraud, and that`s what we as shareholders should
be following up.
Truff.

[aaainvestment] 09/9/2010 11:38

Junt rung up and was told a guy called Mike Kernick, based in another office(London) is dealing with it, I was told he will ring me back, I suspect a brush off.

Nither of the two guys are part of the management team, the general number is listed on the attached link - I have been bitten like this before when a firm is sold ridiculously quickly to directors - it ought to be illegal.



All IMO, DYOR