Manolete Partners Share Discussion Threads

[greenknight1] 14/11/2021 18:57

No he was suggesting they could beat £15 million EBITA during 2024

[rmjpb] 14/11/2021 10:21

He said '£15 a share'.

[brummy_git] 12/11/2021 16:41

www.voxmarkets.co.uk/articles/stocks-to-follow-on-vox-markets-be10a70

MANO 23:45

[sallad3] 11/11/2021 11:53

Worth keeping an eye on.

Audited accounts
"Under the terms of the new £25m RCF facility signed on
22 June 2021 there were the following AMENDMENTS to the
financial covenants:
• Leverage in respect of any relevant period shall not
exceed 2.75:1 at 30 September 2021, decreasing to 2.25:1
at 31 December 2021, decreasing to 2.0:1 from 31 March
2022; and
• Asset cover (defined as the ratio of trade debtors to total
net debt) shall not be less than 1.5:1 at any time."

30 Sep. Trade debtors (incl due more than 12 months)increased by £3.654

"The Company drew down
£3.0m of the available facility during H1 FY22 and a further £1.25m subsequent to the period end."

[simplethesis] 11/11/2021 11:35

if anyone has the Peel Hunt note, could they please say so...

[brummy_git] 11/11/2021 09:11

Resilient H1 numbers & encouraging outlook from Manolete today saying "KPIs in September & October are already showing a strong recovery in activity levels."

All the news & commentary here.

www.linkedin.com/posts/paul-hill-a5994116_mano-mano-mano-activity-6864462698114015232-F0m5

[rmjpb] 11/11/2021 08:22

In the expectation of sustained higher operational activity, we are therefore increasing the number of new in-house lawyers, which is the key factor in increasing the business capacity of the Company. Two new experienced insolvency litigators are due to commence work in the new year. Further decisions will be made as the KPI data develops.

[greenknight1] 11/11/2021 07:42

Poor results as expected. It will take a year for the increase in cases to work through to the bottom line. One for the bottom draw for now.

[mcbabs] 11/11/2021 07:15

With the extraordinary Temporary Government Measures ended from 1 October the market is beginning to recover to pre-pandemic levels and we are seeing a sharp increase in both case enquires and signed cases. Manolete grew strongly up to the imposition of the Temporary Government Measures and with these measures now retired we expect that strong growth momentum to return."

[lazg] 09/11/2021 23:57

Indeed, very positive

[sallad3] 09/11/2021 19:49

Interesting case sent round in the Mano email bulletin today.

[bogman1] 04/11/2021 10:45

Ahhh we will have to wait till then for the jump

[martindjzz] 04/11/2021 09:33

Bogman, they issued an announcement yesterday saying that results would now be released on 11th November.

[bogman1] 04/11/2021 09:09

6 month results today I believe

[mcbabs] 31/10/2021 12:12

https://www.thetimes.co.uk/article/insolvencies-set-to-rise-as-creditors-go-to-the-courts-dd57wjvmw

[maddox] 19/10/2021 14:58

The CVL stats are yet again showing a reversion to the pre-Covid growth trend. From the Insolvency Service release:

'In September 2021 there were 1,328 Creditors’ Voluntary Liquidations (CVLs), which is the highest level seen in the series since January 2019. The number of registered company insolvencies was similar to pre-pandemic levels, driven by this higher number of CVLs, although other types of company insolvencies, such as compulsory liquidations, remained lower.'

So, Sept 21 (1328 CVLs) on pre-Covid Sept 2019 (1101) is 20.6% higher. It'll take a while for these case to filter through as inquiries for MANO - but the die is cast - it's just a matter of time.

Regards Maddox

[gaiusgracchus] 09/10/2021 20:28

No need to overthink this one for me. They now have a tailwind after facing a headwind for nearly two years. Will they capitalise on it? I'm betting yeah.

[williamcooper104] 08/10/2021 17:20

A third of UK small businesses highly indebted, says Bank of England https://on.ft.com/2ZZ5V0S (FT gift link for first three clicks - so don't click if you subscribe)

[bigbaggy] 08/10/2021 09:49

I agree with all of that RMJPB. But the claims against the Directors are really that they are lining their own personal pockets as their companies inevitably fail. Leaving other creditors (mainly HMRC which finances critical public services) with little or nothing by the time the Liquidator arrives on the scene. The CBILs, furlough, rent, rate and tax moritoriums etc would have exacerbated that behaviour.

[rmjpb] 08/10/2021 09:04

Perhaps stating the obvious, but with massive increases in energy prices, upward pressure on wages, increases in job vacancies, increases in commodity costs, queues for fuel etc etc - whilst attempting to recover from covid - these additional nails in the coffins - will sadly be good for MANO in the short to medium term with rising insolvencies. It doesn't take a lot to imagine some company directors acting illegally to try to keep their companies afloat. In the long term this 'weeding out' of less than satisfactory businesses will spur innovation and increase the viability of those good companies who don't now have to compete with the zombie companies.

[simplethesis] 07/10/2021 21:28

Just chipping in that in this rate environment, and with all this QE, there are huge correlations. That is, as I see it, the attraction of litigation finance to SWFs. They have proper multi-year investment timeframes.

[bogman1] 07/10/2021 21:08

Hi jak he explained all this in a proactive presentation some time ago. I think he has been pretty good with us shareholders in keeping us up to date, there are periodic interviews such as Pauls below and proactive presentations, in comparison to burford who say little or nothing.

[wordsmith] 07/10/2021 19:09

Mithaq also have a sizeable holding in Burford Capital, so they know the sector.

[bigbaggy] 07/10/2021 17:22

Mithaq were a new shareholder and bought 17%. Cooklin sold less than 2%. He still has 16%.