Management Resource Solu... Share Discussion Threads

[nigel061] 06/5/2019 20:02

gnnmartin: in the RNS of 15th April, towards the end, it says

"Correction concerning July 2018 fundraising

Further to the announcement of 6 July 2018 concerning a fundraising from directors, employees and contractors, the Company wishes to clarify that one of the subscribers was Leon Hogan, who was not a director, employee or contractor."

[nigel061] 06/5/2019 14:03

I will be voting this week FOR / IN FAVOUR of the resolutions. We desperately need the proposed people on the board. Zorbas and cronies have done nothing for the shareholders and need to go. Brenton's statements in the RNS were pure scaremongering IMO.

[nigel061] 06/5/2019 14:02

I will be voting this week FOR / IN FAVOUR of the resolutions. We desperately need the proposed people on the board. Zorbas and cronies have done nothing for the shareholders. Brenton's statements in the RNS were pure scaremongering IMO.

[hope67] 06/5/2019 09:01

Votes needed to get rid of the crooks

[gnnmartin] 05/5/2019 18:57

Thanks again. If this is a near worthless company, then why are we bothering to try to seize control? And being a near worthless company does not make it a fraud. I have looked through the previous annual reports and can only find Hogan in the last two, and then only as a substantial shareholder. That gives me no reason to decide that he is an influence on the company, malign or otherwise. There is nothing to tell me how he gained his shareholding. I see that it was acquired during June through September 2017, but Hogan is not mentioned in the June 2017 or 2018 accounts other than as a shareholder. Can you point me at the announcement of the company that supports the idea that Hogan got his shares as a result 'phantom roles', by which I assume you mean as payment for misdescribed services.

The company seems to be doing well, only the share price disappoints. To support replacing the board, I must understand the expected benefits.

I did attend the presentation, and did not get the impression Paul was out of his depth. Can you expand on that, please?

[gnnmartin] 05/5/2019 14:10

Regina, thanks for the information. One problem I have is that it is not obvious that the Alerion deal can be reversed, certainly not without considerable cost. Nor is it obvious that it is 'a fraud'. I certainly agree that the value of the deal is hard for outsiders like myself to assess, and it could be courageous or simply foolish, but there is nothing that points to fraud. What is the fraud? If the fraud is misrepresentation, then who has benefited? I can speculate as to the answer to such questions, but assertions of fraud need to 'follow the money' explicitly.

Similarly, I don't see the point in referencing Leon Hogan without setting out why he is relevant. I am not familiar with the history of the company. My only sources of information are documents produced by the company and posts on this bulletin board. Most of the latter read like the outpouring of trolls.

If T.Jones is removed from the board, we have no finance director. What is the transition plan? What is the charge sheet (so to speak) that explains why he should be removed?

Paul Brenton seems fairly central to the running of the company, and he speaks in favour of the current board. Perhaps he would have to, but again, do the proposed board expect to work with Paul? There seems to be nothing much left to hold the company together while the new board get a grip. And MRS are not well placed to finance any increased short term outgoings.

[regina61] 05/5/2019 11:08

The Alerion deal is a fraud and needs to be either reversed or renegotiated at a sensible price. This won't happen while the beneficiaries of the fraud are either on the MRS board or connected to them. JZ could have stepped down immediately, he didn't because he retains the option of staying on after August this way. The whitewash report will confirm the £1.3m was a steal is not independent, as will be seem if there is a change of personnel on the board.

JZ has never been to Australia for MRS. Leon Hogan the alleged shadow director has (why I wonder?) TJ has been there often (£1,000 per day plus expenses but he has no operational role. PB lives in Australia but not near the Hunter Valley. Nigel Burton went twice to the Hunter Valley to sort out operational messes and would presumably go again as required

[gnnmartin] 03/5/2019 17:17

I am just a shareholder who thought the market was behind events last August. I've made mistakes before, that's the risk you take buying shares.

Today's RNS sets out the boards case well. I hope that those who have requested the EGM will set out their case equally well and publish it where I and other shareholders can read it. I hope they will cover:

1: What they still find both unacceptable and rectifiable now that MRS has announced (in yesterday's RNS) that John Zorbas will step down from the board on August 31, and given the Alerion deal is completed.

2: Explain how much time the proposed directors expect to spend in Australia. For all I know they live there, but if they are UK domiciled I would expect it to be hard and expensive for them to keep tabs on the company. John Z. said at the meeting that he thought the directors should be Australian, and I found his arguments powerful.

I am unimpressed by the quality of today's posts on this board, but I don't suppose they represent the quality of thinking of those who have called the EGM. The only post with any information is 836, but even that is unverifiable for the naive shareholder.

[yasx] 03/5/2019 14:30

"I find it a bit hard to get a convincing picture of John's faults"

Jessops may still have a camera or two to sell in one of their few remaining outlets. I suggest you buy one....or, in the alternative, buy a pair of spectacles and then plug your brain in.

[ianb5004] 03/5/2019 14:23

gnn martin, you are either very naive or planted by the Bod. Have you investigated the drone deal, it stinks from top to bottom. Thats a JZ/LH deal that reeks of fraud.

Ive met s few fraudsters in my time all have one thing in common, they are smooth talkers and seem “nice enough”.(as they fleece you)

[king suarez] 03/5/2019 14:04

What's that to do with MRS?

[apfindley] 03/5/2019 12:26

Today's rns is a desperate load of waffle.Cast your minds back to a year ago when Nigel and Trever left, expecting to be leaving a profitable company in safe hands..Zorbas back then stated."John Zorbas, Chairman of MRS said:"I would like to thank Nigel for his significant contribution to the Company, both in the period prior to his appointment and in his role as a Director since April 2017. Nigel was instrumental in the success of the placing and re-admission to AIM and has played an important role in the subsequent transformation of the Company."Today's rns doesnt quite tally with the above lol

[regina61] 03/5/2019 08:57

John Zorbas and shadow director Leon Hogan and their associates have benefitted unfairly from their activities. These activities have now been reported in detail to the FCA, AIM team, Arden and the Takeover Panel. Copious documents have been supplied to support allegations. The authorities are investigating, and the nomad, Arden* having clearly not performed proper dd checks on the statements in recent RNSs, are probably vulnerable to further pressures.

*Market cap now £7m at 23p, raised £5m a year ago at 40p

[apfindley] 02/5/2019 23:59

How much are the board paying you to write that.

[gnnmartin] 02/5/2019 19:08

I went to the meeting today, and was very glad to meet and listen to the company and its critics. I had hoped that TW might be there, since he seems to be the most vociferate critic, but he kept his distance.

I liked John Z.and liked the presentation. I find it a bit hard to get a convincing picture of John's faults. Too much of the limited time was taken up with questions that could be summarised as 'Will you admit that you have behaved badly?', to which John answered 'No', and it was hard for me to form an opinion.

I can see that buying Alerion was a high risk strategy. If it performs as we were told to expect, it will be a bargain. There is a lot to take on trust, both in MRS's judgement in buying Alerion and in Elliott's genuineness in describing what he has sold, but I did not see reason to distrust either board or Elliott.

Alerion is an unlikely fit to MRS, high tech blue sky with down to earth low tech civil engineering. But I'm prepared to give the board the benefit of the doubt.

I talked to Nigel Burton for a bit too. I would be just as happy with him and his team on the board. I feel like the old Punch cartoon, 'How happy I could be with either'. The fight will put people off, though that does not matter too much in the long term, and it will take up management and board time, which may matter more.

I'm not clear what the EGM can achieve that is useful now. John is going, and the Aleron deal is done. I hope that before the EGM we will get a paper describing what and why the EGM hopes to achieve.

[apfindley] 02/5/2019 18:18

Let's hope they used their own money to buy their shares, and didnt siphon off mrs money and use it to pay for their stock.

[regina61] 02/5/2019 17:04

John Zorbas and shadow director Leon Hogan and their associates have benefitted unfairly from their activities. These activities have now been reported in detail to the FCA, AIM team, Arden and the Takeover Panel. Copious documents have been supplied to support allegations. The authorities are investigating, and the nomad, Arden* having clearly not performed proper dd checks on the statements in recent RNSs, are probably vulnerable to further pressures.

*Market cap now £7m at 23p, raised £5m a year ago at 40p

[danny baker] 02/5/2019 15:29

Well John Zorbas is stepping down in August 2019 so some investors will think that is progress. They also seem to be saying in today's RNS that the general meeting will go ahead probably on 22nd May, to try and change the board. I think we might again also see a resolution to disapply pre-emption rights. If Theresa May can keep bringing the same resolution for a vote, I suppose MRS can as well.

[apfindley] 02/5/2019 14:50

WHERE ARE THE UPDATED HOLDINGS RNS'S???The crooks are being given too much time to get their numbers in order.The Swansea one is on the run I expect as he needs JAIL time.