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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Management Resource Solutions Plc | LSE:MRS | London | Ordinary Share | GB00B8BL4R23 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.30 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
27/9/2019 16:29 | So why did they force the Alerion acquisition scam on shareholders, it seems quite clear they were in no position to add to their workload and cash outflow, they needed to get the refinance done and the other divisions to a point where they were able to stand on their own two feet before adding more cash needy enterprises (well one man and his drone)...... | troutisout | |
27/9/2019 16:10 | So, "the Alerion investigation and valuation costs and the professional costs associated with the numerous EGM's ... amounted to some A$1.6m" I guess the squabbles and the consequential share price fall made it hard to refinance their debts, so that's another A1m that the EGMs might have cost us. The dissident shareholders may be right in saying the company is badly run. Unfortunately when the shareholders of a company fall out on this scale, it rarely has a happy ending. | gnnmartin | |
17/9/2019 08:11 | This could actually be good longer term, if creditors have forced a comprehensive refinancing when the BOD couldn't. The worry is what the cost to shareholders is, both in fees and dilution. | ewanwhose | |
16/9/2019 18:04 | Yes, things are looking up. Worth holding, but with disgruntled major shareholders in the background, this won't go anywhere until it has a couple of years or more of peaceful profit. | gnnmartin | |
16/9/2019 14:25 | So, we have a pulse. Looks like we might just have a future - but on what terms, I wonder. | lord gnome | |
13/9/2019 10:04 | many thanks..from a now non investor viewpoint, clearly no proper research was done, and appears to be a way of deliberately stripping company assets. Little surprised they didnt want to release that. | belgrano2 | |
09/9/2019 07:32 | gnnmartin, The tumbling share price came on the Alerion acquisition, not the EGMs, in fact before the first EGM the price briefly returned to pre Alerion levels. I would suggest the problem has been with the cash management of the Company by those in charge, which would have been weakened by the insistence to fund the development of the drone and wages to the drone's creator, at a time when they were struggling to cover their current cashflow situation. Add to that the delays in getting the refinance done, due for well over a year now and you can see the real reasons to this predicament. | troutisout | |
06/9/2019 20:03 | The loan was a term loan for a year at 12% interest. Repayments were A$100,000 per month (plus interest perhaps) with the balance repayable at year end (ie May '20). So it is very surprising that administrators have been appointed. Does that mean the MRS could not even find $100,000 cash, or that there are other covenants that were not announced in May? Two requisitioned EGMs can't have helped. I expect that and the tumbling share price has encouraged creditors to seek payment and customers to avoid paying before completion. I'm not hopeful, but reserve judgement pending further information. | gnnmartin | |
06/9/2019 18:59 | Possibly Gnomy. The Hermes loan was only AUD 3.2 million so even with interest, AUD 4 million should clear the debt to Hermes. Problem for MRS is it has no authority to issue shares for cash therefore the subsidiaries could be sold cheaply and quickly before it comes up with a plan. | kinwah | |
06/9/2019 17:27 | Anyone think that the Aussies will do a prepackaged with Zorbas buying out the business for a song? Just thinking... | lord gnome | |
05/9/2019 11:51 | Big question now is whether there is enough money in the UK for MRS to survive a little bit longer. No doubt there will be parent company guarantees that will be called upon by the Aussie insolvency practitioners in due course. All in all it is looking bleak for shareholders. | kinwah | |
04/9/2019 16:24 | The update is very clear. Basically there has been notification that the Australian subsidiaries are insolvent. If true then shocking news but then not surprising given the chronic lack of cash in the company. | kinwah | |
04/9/2019 15:52 | I wonder if Arden have resigned as Nomad with immediate effect. Otherwise MRS could have run out of cash. Sorry for shareholders if it is as bad as it looks. | kinwah | |
04/9/2019 14:31 | Too late. Suspended. | irishlass2 | |
31/8/2019 12:43 | Wow, this is totally dead now. Sad really, people need to take Zorbas to task. Only way to make money in this share is to work out where the next con is coming from. | 66778898 | |
30/8/2019 23:46 | Where we at currently, I've put this on my 'wrote off' category. Are we still making profit? An how is the debt management going? Any news due? | inthemix | |
30/8/2019 16:26 | They certainly need to improve governance.However, the changes wanted and much needed are not just zorbs officially off the board, but also to be unable to exact any influence whatsoever over ANY board members again. The same applies to the rat hogan who should never have been allowed to infiltrate the board , who he and zorbs then threatened and pushed into a dodgy criminal dealing to buy a worthless drone company which had worthless, unverified, untested assets. | apfindley | |
30/8/2019 09:25 | Well apf the recent board changes were what shareholders were demanding. I detect Arden trying their best to improve corporate governance here. | kinwah | |
25/8/2019 23:08 | I'm sure all brexiters will be appalled. How dare the dissident shareholders ask for a second vote. They are flouting the will of the people! | gnnmartin | |
23/8/2019 09:54 | The board must engage with shareholders, or it will continue. | apfindley |
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