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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Managed Support | MSS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 0.045 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.045 | 0.045 |
| Top Posts |
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Posted at 07/11/2012 00:37 by 2float WindyYou genuinely baffle me. Simple Simon Beart, the buffoon who was in charge of this company for 5 times longer than anyone else, is completely responsible for its failure. When he gained control there was c£13m in the bank and the company had contracts and customers. He sacked staff unnecessarily, closed profitable businesses, wrongly claiming they were loss making and upset so many suppliers and customers that nobody wanted to deal with him. His strategy for the business was so poor that despite the assets he inherited, he failed completely. Even his own chairman was utterly dismayed by his actions and his FD, who he brought with him, resigned after a matter of weeks. Yet you still bleat on about members of the old board. In all these years I've never once seen you criticise Bumbling Beart on any occasion. If you are posting on this BB for genuine reasons, there is no way you would have ignored Beart's abject failures. The only logical conclusion is that you have a connection with Beart that you won't admit. Why else would you refuse to accept that he's a failure and keep referring back to people who haven't been involved for over 5 years. Your recent post is yet another example. Why didn't you post anything about the criminal case being dropped without any evidence of wrong doing being found? The AADB have based their decision on "evidence" supplied by Beart, someone who has clearly demonstrated he cannot be relied upon. Hunt is currently appealing the ruling. The same "evidence" was supplied by Beart to the SFO who, after an investigation that lasted nearly five years, concluded it was without any foundation or merit. In fact, the investigation (if you can call it that) carried out by the AADB was totally flawed, because it didn't include evidence from most of the former advisors and most of the former directors. They were all prevented from taking part in the AADB's "investigation" because of the ongoing criminal investigation being conducted by the SFO. This was exactly the same problem with the investigation carried out several years ago by the AIM team, it only included "evidence" supplied by Beart, who clearly cannot be relied upon and who is hardly impartial! It may interest you to know that the neither the SFO, the AADB or AIM have been able to find anyone credible who can corroborate Beart's claims. Don't you find that significant? The same accusations that Hunt has been reprimanded for, of misleading investors in several matters, has been investigated by the SFO, who are the only body who have looked at all the evidence from all parties. They concluded there is no evidence on all counts. The article you've posted above is a meaningless piece of tripe, poorly written by a journalist who clearly failed to carry out any meaningful investigations into the story. If he had, he would be looking into Beart and the utter rubbish he's fed gullible journalists over the years. This story has not yet finished, believe me. Simple Simon is in for a very rough ride over the coming years, he better have a good lawyer and very very deep pockets! Come clean Windy, tell us why you keep supporting Beart. |
Posted at 14/8/2012 07:32 by w1ndjammer May 14, 2012 9:55 pmWorthington director given accounts ban By Duncan Robinson A former finance director of Worthington Nicholls has been excluded from the Institute of Chartered Accountants in England and Wales for six years after producing "materially false and misleading" financial statements. The ban is the second-longest achieved by the Accountancy and Actuarial Discipline Board. More On this story Stiffer fines for audit misconduct proposed Ex-Worthington Nicholls finance chief probed PwC fined £1.4m for audit failure IN Financial Services Peregrine chief charged on forged accounts Inquiry launched into RSM Tenon Poland's Amber Gold to liquidate Analysts toughen stance on corporate India Timothy Hunt was found to have presented misleading interim accounts in June 2007 by including £770,000 of turnover at the air conditioning installation and maintenance group for which he had no evidence, according to the AADB. An independent tribunal also concluded that Mr Hunt failed to prevent the release of misleading information to investors before a share placement by Worthington Nicholls worth £20m. "The sanction reflects the gravity of the misconduct and Mr Hunt's refusal to accept responsibility for his actions for the last three years," said Tom Martin, executive counsel at AADB. Richard Jones QC, who chaired the tribunal, said that Mr Hunt "fell short of the standards expected of a professional accountant." In May 2007, Mr Hunt allowed a share placement letter containing misleading information to be released to the market, the tribunal found. The letter claimed "current trading is strong" and that there was "strong trading momentum in the group's current business". But the group had a net cash outflow of £285,000 a week and was reliant on external funding, according to the AADB. The subsequent share placement raised £20m. AADB argued that as Mr Hunt was the sole qualified accountant on the board, he was in a unique position to recognise the company's financial position. Mr Martin said: "Mr Hunt has been party to misleading regulatory news service announcements and, more seriously, issuing a set of misleading interim accounts for Worthington Nicholls Group." The company was admitted to the small-cap Aim index in June 2006. The shares were priced at 50p in an initial public offering through Corporate Synergy, the now-defunct broker. They peaked at 193p in April 2007, giving the group a market capitalisation of £146m. By August the share price had plunged almost 90 per cent to 20p after a series of profit warnings. It ended the year with a market capitalisation of £12.5m. The group was renamed Managed Support Services after it was taken over in late 2007 by a turnround group led by Simon Beart. It sold its health and safety and water divisions to Capita and its facilities management division to Rentokil Initial last year. It now operates, in effect, as a cash shell, according to Mr Beart, its chief executive. Mr Hunt's counsel declined to comment. |
Posted at 03/4/2012 15:51 by humbug12 I joined this board today, and i have been following LSE board today, as well as this. I lost some money today on MSS, as i was a fool and trusted poster SAUD, who turns out to be Hedge fund Investor on lse, and they/or should i say He has falsely made statements regarding a t/o . I am not the only one who has lost money and accept it is all part of the game, but when one poster cut and pastes his own words, as a different character, on a different chat board then posts, SAUD on ADVFN says t/o of £1,5 million then this makes them lowest of the low to fellow investors. |
Posted at 03/4/2012 14:28 by humbug12 This guy SAUD is aka Hedge Fund Investor from the LSE branch of rampers |
Posted at 22/3/2012 08:07 by 2float WindySimon shining knight "gave the educated time to exit".....really? Your hero brought several new institutions and new shareholders IN to the company, are you saying, therefore, that these new investors were uneducated dupes? Do you realise how nuts your posts look? I think I know who the muppet is ;) |
Posted at 14/3/2012 08:42 by w1ndjammer richmondi can`t be botherd to look back to 2007, but he must be looking at a big loss now anyway. interested in your thoughts, are you saying if SB hadn`t stepped into the breach WNG would still be trading, and in profit... my thoughts are they would have been bust long time back. at least SB kept things going, allowing the smart investor to exit. i have been on the wrong end of a few crooked AIM companys which have just gone bust without warning, and have lost plenty of money. but you have to balance the portfolio. i am still up 450% since the crash, was 650% this time last year, but i can`t blame SB for any of that. WJ. |
Posted at 13/3/2012 15:54 by w1ndjammer Nighthawk Energy plc("Nighthawk" or "the Company") Bulletin Board Legal Action The board of directors of Nighthawk, the US focused hydrocarbon production and development company, is pleased to advise of action that has been taken and is continuing in response to persistent defamatory and untrue postings on the Interactive Investor Trading Limited ("iii") and ADVFN plc ("ADVFN") bulletin boards. The postings concern the operations of Nighthawk and its management which the board considers to be extremely damaging to the Company and its reputation. The Company took steps to identify the posters who try to escape liability for their defamatory postings by hiding behind a cloak of anonymity, using anonymous email, social networking or bulletin board accounts to disseminate those postings. In some cases the names and other details used to register these accounts are fictitious and posters also can try and cover their tracks using numerous pseudonyms but they can be traced through their IP addresses. The operators of the bulletin board services can be prevented by confidentiality and data protection laws from disclosing the names and other personal information associated with the accounts. However, the English Courts can exercise their discretion and order such disclosure, provided certain criteria are met. In the High Court of Justice on 28 June 2010 Nighthawk obtained a Norwich Pharmacal order instructing iii and ADVFN to provide information in respect of various posters, who were posting material that the Court accepted could be defamatory. Both iii and ADVFN are assisting the Company with providing the relevant information including details of the posters. The identities of various individuals behind these postings have now been established and the Company and its directors are now considering with their legal advisers instituting civil proceedings against them for defamation. Further announcements will be made as appropriate. Enquiries: Nighthawk Energy plc David Bramhill, Managing Director Tim Heeley, Commercial Director 07787 160682 07956 525433 020 7887 1454 Westhouse Securities Limited Tim Feather 020 7601 6100 tim.feather@westhous Matthew Johnson matthew.johnson@west Matrix Corporate Capital LLP |
Posted at 09/3/2012 16:13 by richmond9 Worthington NicholsThe SFO has closed its investigation into Worthington Nicholls Group. The investigation had opened in March 2008. After full and detailed consideration of the evidence gathered during the investigation, we have determined that there is not a reasonable prospect of conviction in the Crown Court. Background Worthington Nichols Group was an AIM company involved in air conditioning installation & maintenance. Allegations were made that after listing in 2006, a number of announcements were made to the market which were misleading and led investors to buy shares in the company at artificially inflated prices. The investigation was conducted together with Cheshire Police and looked at around £30 million of share purchases. In June 2008 a number of residences were searched in Cheshire. Update as at 7 March 2012 SFO investigation discontinued. |
Posted at 13/12/2011 22:25 by richmond9 Bob Morton is an activist investor worth following. Here are 12 companies he's put money into. Arthur Leonard 'Bob' Morton, aged 67, is a well-known serial entrepreneur, reputed to be worth around £100m. Unfortunately, this former Chartered Accountant (who used to offer clients tax advice) can be rather media shy and was unwilling to comment on his business interests -- despite my efforts to contact him. What is known about him is that he has a string of investments in private and quoted companies. He is also the Chairman of quite a few of them. Strategic approach Morton has been very successful over the past 40 years by investing in business start-ups and turnarounds. Euro Exhaust Centres was his first big success, which he built up from scratch in the 70s, before it was reversed into Kwik Fit in 1979 for £11m. In the 80s he took the publicly quoted Burgess Group from a market cap of £1m to £100m in three years, eventually selling it for £350m. These are just a couple of his many success stories. In the quoted sphere he has recently specialised in quoted companies that are in difficulty or he believes are not being managed properly. Certainly, because of the inherent risks involved in such companies, some of these holdings haven't performed that well. However, who is to say that he won't eventually turn a profit on most of these investments. Criteria for investment Morton has previously outlined what he looks for in an investment. It can be summarised quite simply as: The financial position -- he looks at the numbers and decides whether the company is a basket case, incapable of being helped or not. The management -- is the management any good, as he puts it "at the end of the day people make money, money does not make people." He tends to see things in pretty black or white terms, people are either 'winners' or 'losers' and, as you'd expect, he is single-minded in protecting his investments. For example, he is currently attempting to oust the chairman of Media Square and has called a General Meeting. Quoted investments Aside from buying into a company directly, he also uses two Jersey-based investment vehicles, Southwind and Hawk Investment Holdings, in which to make strategic investments. I've managed to put together the following list of quoted companies in which he currently has an interest, although it is probably not comprehensive: Vislink (LSE: VLK) -- A total of 14.9% of the issued share capital through Southwind (11.3%) and Bob Morton (3.6%). Media Square (LSE: MSQ) -- 7.1% of issued share capital through Hawk Investment Holdings. St Peter Port Capital (LSE: SPPC) -- 3.7% of issued share capital through Hawk Investment Holdings (0.4%) and Southwind (3.3%). Chairman of the Board. CustomVis (LSE: CUS) -- 23.8% of issued share capital via Hawk Investment Holdings. Tenon Group plc (LSE: TNO) -- 7.1% of the issued share capital through Southwind. Southwind 7.12%. He is Chairman of this company too. Armour Group Plc (LSE: AMR) -- Via Southwind he holds 19.2% of the issued share capital and is also Chairman. PSG Solutions (LSE: PGS) -- 18.5% via Southwind. Servoca (LSE: SVCA) -- As Chairman controls 29.9%, 20.6% via Southwind and 9.3% via Hawk Investment Holdings. WFCA (LSE: WFCA) -- He is Chairman and via Southwind has 16%. Clarity Commerce (LSE: CCS) -- via Southwind he has 14.9% of the issued share capital. Adili (LSE: ADIL) -- He owns 48.0% via Hawk Investment Holdings. Special permission was sought from the Takeovers and Mergers Panel to waive Rule 9 of the Takeover Code back in October 2008, so that Hawk didn't have to make a takeover offer to all holders of the shares. Daniel Stewart Securities (LSE: DAN) -- Owns 3.7% via Hawk Investment Holdings. Unfortunately, to ascertain the price at which he bought is a piece of detective work that I've been unable to complete in the time at my disposal. However, I reckon it's worth your while if you considering buying one or more of these companies. This is one investor I'm sure is going to continue to make money! |
Posted at 30/11/2011 09:17 by richmond9 WJAt 0.95p there is no point selling, I would rather keep them and make sure my vote counts. I'm not interested in compensation, im interested in SB going to court for what he has done The file I have on him shows that everything was pre meditated 5 months before he took control and with the full backing/support of cenkos - confirmed his pre meditated intentions in writing in August 2007 - carried out his plan to the letter with no regard for the true position - carried on even after William Good left refusing to countenance his plan - sacked KPMG for not agreeing with his write-offs but continued to use their name to justify his actions - claimed group companies were loss making so he could close them when they were only loss making because of group management charges he put on them - threatened managers (and is still doing this) - made 100s redundant to ensure the story and his plan made it into the papers - hid losses from investors - failed to pay TAX & NI in group companies - failed to be a turnaround specialist in a sector which has seen double-digit growth in the 4 years SB has been in control His final plan is to sell off the trading business in a NewCo with all the losses and unpaid taxes wrapped up inside, and keep the remaining £1m in the Plc. The only employees of the Plc are SB, Piers Wilson and Non Exec Rodney Mann He's not able to sell the Plc because anyone who gets their hands on it will see the paper trail, the lies and the Fraud. That's why we have to vote NO That's why we have to get SB out and someone in who gets the company so that we can review the last 4 years and get SB in court on a criminal charge |
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