Manganese Bronze Share Discussion Threads

[m.t.glass] 30/7/2010 07:24

diku -- it moved to AIM more than six weeks ago.

[diku] 27/7/2010 16:26

Guys is it last day of being listed on the main market...it moves over to the AIM market?..

[toffeeman] 27/7/2010 16:25

Toscafund seems to have made another error with Findel!

[m.t.glass] 27/7/2010 12:30

Slipping again - ahead of half-year results this Friday.

[davidosh] 25/7/2010 17:04

Why this Friday ? They did not announce a specific date by which they would be finalised did they ? I have no holding but interested to see what happens next.

[empirestate] 25/7/2010 16:53

should be interesting this friday to see if there has been an agreement for the placing

[m.t.glass] 15/7/2010 13:52

Dunno. My downbets were automatically stopped out on the first upward twitch, banking my biggest gains of the year. And for now I am merely watching to see if the bounce is real or engineered.

[balcony] 15/7/2010 08:55

Well the shares have moved up yesterday and this morning,Any rumours out?

[m.t.glass] 07/7/2010 16:23

Share price collapsing. Down 11% in past half hour./

Results due later this month.

[m.t.glass] 05/7/2010 14:41

Manganese Bronze's Mr Russell it seems is not having a good year..





Manganese Bronze Holdings PLC
(the "Company")
Directors' disclosure

In accordance with Schedule 2 (g) of the AIM Rules for Companies, the Company
today announces that on 2 July 2010 Atmaana Limited had a receiver appointed.
John Russell, Chief Executive Officer of the Company was a director of Atmaana
Limited until 31 May 2010. No further disclosures are required under Schedule 2(g) of the AIM Rules.

[m.t.glass] 28/6/2010 15:40

Manganese Bronze Holdings PLC will announce its half year results for the six
months ended 30 June 2010 on Friday 30 July 2010.

[m.t.glass] 25/6/2010 07:21

Sales of a Mercedes-Benz- based alternative to the traditional London black taxi, helped drive a 30 per cent increase in full-year turnover at Eco City Vehicles, as the vehicle converter and dealership moved towards break-even, writes Michael Kavanagh .

Peter DaCosta, chief executive, above, estimated that the company had secured a 24 per cent share of new vehicle sales in the London black taxi market as it continued to take business from market leader Manganese Bronze.

The company has sold 700 of its six-seater taxis - which are based on the Mercedes Vito light van platform - since the end of 2008, when they were approved for use in London after meeting requirements for tight-turning circle and disabled access...

... Manganese Bronze said last month that sales in the first five months of the year had slipped from 588 to 553...

Production of Eco City's cabs has risen from eight to 12 a week at its plant in Coventry, close to that of Manganese Bronze which has trimmed production in response to a sales rate of 26 a week.

Both companies pitch the retail price of their vehicles at about £37,000.


(taken from an FT article earlier this month)

[m.t.glass] 24/6/2010 10:00

Frank Zhao and Lawrence Ang, non-executive directors of the Company, have resigned with immediate effect.

[crystalclear] 23/6/2010 10:24

Cool
But I'm going to wait a little longer before I buy some.

[m.t.glass] 23/6/2010 09:17

Manganese Bronze leaves Main Market after seven decades
Mon 14 Jun 2010

LONDON (SHARECAST) - Manganese Bronze has spent its first day on AIM after more than 70 years as a fully listed company.

Coventry-based black cab maker Manganese Bronze joined the Main market in April 1940. The shares remained unchanged at 42.75p each at the end of their first day's trading on AIM.

The company believes that being on AIM will reduce the expenses of being quoted and the regulatory workload.

Hong Kong-based Geely Automobile Holdings Ltd is Manganese Bronze's joint venture partner in the Shanghai venture SLTI as well as a shareholder in the company. The UK company plans to start to source all its parts from SLTI. This also may have meant that Manganese Bronze would be no longer able to comply with listing requirements in the future.

A proposed share placing could give Geely more than 50% of the share capital.

The Coventry factory will become an assembly rather than a manufacturing facility.

Trading in April was disappointing with weekly orders in May below expectations. The rise in the pound has increased the cost of the Italy sourced engines for the cabs. Manganese Bronze will make a loss in the first half of 2010 even before redundancy costs.




Slipsliding some more.. now down 95% since its glory days.

[m.t.glass] 14/6/2010 08:24

Admission to trading on AIM
Date : 14/06/2010 @ 08:21
Source : UK Regulatory (RNS & others)
Stock : Manganese Bronze (MNGS)
Quote : 47.25 0.0 (0.00%) @ 08:00


Manganese Bronze Holdings PLC
("MBH" or the "Company")
Admission to trading on AIM
MBH is pleased to announce that the ordinary and preference share capital of the
Company has today been admitted to AIM and trading commenced at 8.00 am.
The Company's issued share capital comprises 30,469,927 ordinary shares of
GBP0.25 each and 640,701 8.25% cumulative preference shares of GBP1 each.
- Ends -
For more Information:

Manganese Bronze Holdings Plc
Mark Fryer Tel: [phone]

Matrix Corporate Capital LLP
Louis Castro
Tel: [phone]
Anu Tayal

Financial Dynamics
Jon Simmons, Sophie Moate Tel: +44 (0)
20 7831 3113


This information is provided by RNS
The company news service from the London Stock Exchange
END

MSCLLFFARRIVLII

[m.t.glass] 14/6/2010 08:12

Cancellation Manganese Bronze


TIDMMNGS

RNS Number : 5145N
Official List
14 June 2010

NOTICE OF CANCELLATION OF LISTING FROM THE OFFICIAL LIST

14/06/2010 8:00am

CANCELLATION

MANGANESE BRONZE HOLDINGS PLC

The Financial Services Authority ("the FSA") cancels the securities set out
below from the Official List effective from 14/06/2010 8:00am at the request of
the company :

+------+--------------------+-------------------------+--------------------+---+
| | 8.25% Cumulative | Standard Shares | (GB0005617450) ? | |
| | Preference Shares | | | |
| | of GBP1 each | | | |
| | | | | |
+------+--------------------+-------------------------+--------------------+---+

+------+--------------------+-------------------------+--------------------+---+
| | Ordinary Shares of | Premium Equity | (GB0005617013) ? | |
| | 25p each | Commercial Companies | | |
| | fully paid | | | |
| | | | | |
+------+--------------------+-------------------------+--------------------+---+



This notice has been issued by Listing Applications - 0207 066 8333 Option 3.

Notes

- Notices issued by the FSA in respect of cancellation of securities from the
Official List must be read in conjunction with notices issued by the relevant
Recognised Investment Exchange.

? Denotes the security is also being cancelled from trading on the London Stock
Exchange, a recognised Investment Exchange.
- SEDOL numbers which are allocated by the London Stock Exchange as a Stock
Exchange identifier may be found on their dealing notice.

| Denotes the security is also being cancelled from trading on PLUS Markets
Group, a recognised Investment Exchange.

This information is provided by RNS
The company news service from the London Stock Exchange
END

NOTKKDDBABKDBAD

[m.t.glass] 21/5/2010 15:16

MNGS looks like closing at a new alltime low..

[toffeeman] 19/5/2010 22:18

Toscafund guy can't be too happy - I wish I could find the e-mail exchange I had with him - he was v bullish!

[m.t.glass] 17/5/2010 08:09

Four weeks from today, MNGS becomes an AIM-listed stock instead of a main-market stock. Presumably anyone (still?) holding their shares in an ISA will be forced to sell.

[davidosh] 14/5/2010 12:58

Absolutely spot on Mark. If truth be told the customers absolutely despise the cab manufacturers and the Chinese are not going to overpay for such a declining market and position over here in the UK.

[marben100] 14/5/2010 12:28

crystal,

The truth is that this has little to do with bankers. The truth is that LTI have been getting away with making & selling a substandard product at exorbitant prices for donkey's years. Ask any London taxi driver about the value for money LTI offers & you'll get a few choice words. They only got away with it because London carriage office rules made it uneconomic for competitors to eat their lunch.

Whilst I am sympathetic to the plight of LTI's workers, to be successful UK businesses must make world beating products. There are some that do (e.g. Rolls aero engines) but MNGS was not one of them.

There are good UK engineering businesses out there, with imaginative and innovative management teams. It is up to us, as investors, to seek them out and back them with our capital, as opposed to the failures.

Cheers,

Mark

[crystalclear] 14/5/2010 10:26

Looks like the Chinese will end up in control of the saloon cars scheduled for production after the taxis. This looks like typical takeover tactics: move at a snails pace initially to create a low price and then boom once the company is yours.

And like the Indian Tata takeover of LandRover and Jaguar, and the Chinese takeover of MG and Rover, the London bankers are going to do their usual trick of destroying £7 in value for £1 that goes through their hands.

If it wasn't sad, it would be funny.

[alunmorris] 14/5/2010 07:34

"Cab maker stalls on rescue fears
shares of the iconic black cab maker reversed to 48.25p and closed 4p off at a year's low of 51p on fears that a Chinese rescue bid could yet hit the buffers.

Shareholders attending the AGM were told that the loss-making company was still in talks with China's carmaker and 20pc shareholder Geely over the price of a placing to give it full control."