Manolete Partners Share Discussion Threads

[tightfist] 21/12/2021 10:10

Yes, it's curious.... Thought: Is the market anticipating more Rushi largesse with more lifelines handed out? The share price is down around the support level, bounced off it yesterday

[bogman1] 20/12/2021 16:01

Not sure why this company is at these low levels. When the re rate comes it's gonna b massive

[bigbaggy] 17/12/2021 17:04

Thanks Maddox. This is a very useful leading indicator but as the Company has stated, there will be a time lag between Liquidator appointment and referral of cases out to funders. Will be interesting to see their KPIs develop accordingly.

[maddox] 17/12/2021 13:49

The latest CVL figs for November are published. The Insolvency Service commentary states:

'For the first time since the start of the coronavirus (COVID-19) pandemic, the monthly number of registered company insolvencies was higher than pre-pandemic levels. This was driven by the higher number of creditors’ voluntary liquidations (CVLs). In November 2021 there were 1,521 CVLs, 43% higher than in November 2019.'

Note - that's Nov 2019 (1067) not Nov 2020 - they're up 99% on 2020 (765).

This is now six months in a row showing confirmation of a now resumed growth trend from the leading indicator for the insolvency sector.

[timbo003] 03/12/2021 10:32

>>>>gaiusgracchus

Yes they have, have a listen to the proactive presentation and in particular the Q&As on that subject:

[gaiusgracchus] 03/12/2021 09:59

Yes, I'm been thinking about the fraudulent bounceback loans as well. Has the company indicated that this is an area that they see opportunities? It makes intuitive sense of course.

[rmjpb] 03/12/2021 08:28

Very compelling arguments again from the CEO, with plain data to back it all up. Growing number of cases and staff. It all looks great. However, what do people see as the main risks that could derail this optimism, that I should be considering?

[timbo003] 03/12/2021 05:57

On the subject of fraudulent bounceback COVID loans, there's a new BBC news report available this morning on the subject which explains the potential scale of the problem for HM Government and it takes only a little imagination to understand how Manolet should be able to assist HMG in reclaiming a significant portion of the cash taken fraudulently from UK tax payers.

Go get 'em Manolet 👍👍

[timbo003] 03/12/2021 05:45

See link for recording of last night's Proactive presentation:

[maddox] 02/12/2021 12:42

MANO's CEO Steven Cooklin is presenting this evening at 6pm on the virtual Proactive One2One Investor Forum: Sign-up here -

[maddox] 30/11/2021 13:49

A well-timed director-buy, by our Chair of 19,000 shares at 259p, has helped keep the share price up on another down-day - as the markets react to fear of the Omicron virus variant.

I can't see it as being likely that the Govt will reimpose the support measures that caused the interruption to MANO's case load. Whilst the recent data suggests that we'll soon be back to the pre-Covid growth trend - and MANO have also been adding staff. So reading the runes suggests an opportune moment to top-up perhaps?

[maddox] 26/11/2021 10:23

Mr Market suffers from a condition known as bipolar disorder, according to the renowned investors Benjamin Graham, Warren Buffet and John Maynard Keynes - such that his mood swings from mania to depression.

Nothing fundamentally has changed with Manolete - its prospects are the same apart from the opportunity to buy the shares at a better price.

[bogman1] 25/11/2021 20:56

I agree, I am already well up and well in on this company so happy to sit and hold. Good opportunity though. Cheers for the comments gents

[rmjpb] 25/11/2021 18:04

I can't see any evidence to warrant todays drop, but the volume was up, and more buys than sells, so it is baffling. Makes me wonder what I am missing. Still if I had spare cash I'd top up at this price.

[cockerhoop] 25/11/2021 16:35

Bigbaggy,

Re: Non Current receivables

It can't be the £15m case as that made it to the balance sheet in FY21 whilst the most recent increase was in H122.

[bigbaggy] 25/11/2021 16:17

A lot of small caps in the "legal/funding" space seem to have same shape chart Bogman1. See LIT and RBGP.

[brummy_git] 18/11/2021 14:44

Manolete (starts 24:00) was talked about positively here by Jamie Constable of Singers.


www.youtube.com/watch?v=KknJ6I5U_5g&t=3s

[cockerhoop] 17/11/2021 13:08

Hi Maddox,

Are you referring to a new large case (in addition to the case announced as completed on 15th Sept 2020)? From that case payment timeline I would have expected £1m of non current receivables to move to current (as now due within 12 months yet both current and noncurrent have risen in the period at a time you'd expect cash collections to be running ahead of profits due to the quiet investment environment.

[cockerhoop] 16/11/2021 12:42

Focused on settlements and cash recovery?

Trade receivables increased by £3.671m during H122 and debt has increased by a further £1.25m since H1E.

On renegotiation of the HSBC loan the covenants were temporarily relaxed until March 22 so the next 6 months start to look quite interesting in terms of cash collection especially as investment opportunities start to increase.

Watching with interest.

[maddox] 16/11/2021 11:40

Yes, and I note MANO have also recruited another couple of senior staff to join in Jan 2022. This is a clear indication that they think that they'll need additional capacity.

This last set of figures were always going to be difficult - firstly Covid and secondly strong prior-period comparators. Nevertheless, I like the way they have focussed on settlements, cash recovery and cost control. It gives great insight into the quality of the management team when you see how they react to tough circumstances; I call it the acid-test moment. It is thus very reassuring when the management team respond well, make the correct decisions - sometimes difficult ones.

So we've now seen how well MANO can cope with adverse trading conditions - and we already know how they performed in 2019. Now we're heading back into similar conditions.

[bigbaggy] 16/11/2021 09:54

As their CFO said recently, this stat is an excellent leading indicator for MANO future performance but with an approximate 6 month time lag. The data is very encouraging.