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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Manolete Partners Plc | LSE:MANO | London | Ordinary Share | GB00BYWQCY12 | ORD 0.4P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.50 | 0.49% | 102.50 | 11,691 | 08:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 100.00 | 105.00 | 102.50 | 102.50 | 102.50 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Legal Services | 26.3M | 933k | 0.0213 | 48.12 | 44.64M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:22:47 | O | 1,300 | 105.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 30/9/2024 | 11:49 | UK RNS | Manolete Partners PLC Result of AGM |
| 20/9/2024 | 07:00 | UK RNS | Manolete Partners PLC Grant of Share Options |
| 06/9/2024 | 13:41 | UK RNS | Manolete Partners PLC Posting of Annual Report and Notice of AGM |
| 03/9/2024 | 21:28 | ALNC |  EARNINGS AND TRADING: STV swings to profit; Kitwave enjoys busy summer |
| 03/9/2024 | 07:00 | UK RNS | Manolete Partners PLC Audited results for the year ended 31 March 2024 |
| 29/8/2024 | 07:00 | UK RNS | Manolete Partners PLC Retail Investor Presentation |
| 25/7/2024 | 17:09 | UK RNS | Manolete Partners PLC PCA Shareholding |
| 27/6/2024 | 07:00 | UK RNS | Manolete Partners PLC Notice of Results |
| 26/6/2024 | 07:00 | UK RNS | Manolete Partners PLC Manolete ranked in Band 1 by Chambers |
| 31/5/2024 | 07:00 | UK RNS | Manolete Partners PLC Block Listing Six Monthly Return |
Manolete Partners (MANO) Share Charts1 Year Manolete Partners Chart |
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1 Month Manolete Partners Chart |
Intraday Manolete Partners Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 02/10/2024 | 09:02 | ::: MANOLETE PARTNERS ::: | 1,559 |
| 01/5/2019 | 14:14 | Manolete Partners at the UK Investor Show | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 06/10/2024 09:20 by Manolete Partners Daily Update Manolete Partners Plc is listed in the Legal Services sector of the London Stock Exchange with ticker MANO. The last closing price for Manolete Partners was 102p.Manolete Partners currently has 43,761,305 shares in issue. The market capitalisation of Manolete Partners is £44,855,338. Manolete Partners has a price to earnings ratio (PE ratio) of 48.12. This morning MANO shares opened at 102.50p |
Posted at 02/10/2024 07:40 by sallad3 Whoa.. just seen the two posts on LSE this morning from a man pursued by MANO and the tactics they use.PM me if anyone wants a pdf copy as its probably not right to c&p to here. |
Posted at 01/10/2024 12:32 by cockerhoop Good informative stuff sallad3.I've been of the view for a while that MANO's consistent need to waive banking covenants resulting in HSBC tightening the terms has resulted in a constrained financial position. Regards your final point - suggests the legal fees are a similar quantum to the IP share? |
Posted at 01/10/2024 10:40 by sallad3 A shame no-one else came to the AGM.I raised a couple of matters, one of which concerns the Banking Covenants and possible renewal of facility in 2025. Facts are on pages 10, 49 and 66 of the accounts SC said MANO are trying to find other long term debt providers "to encourage HSBC to be competitive". Hmmm. They refused to discuss/disclose the basis and calculation of the new cash basis for covenants required by HSBC. My feeling, right or wrong, is that there isn't a lot of working capital/facility slack around. The answer to another question revealed that Gross Cash Receipts (page 19) includes fees payable to MANO's own instructed lawyers which is about 25% of the total monies received. |
Posted at 25/9/2024 14:04 by 74tom In my opinion you can only value on a PE basis when returns are consistent & simple. That is definitely not the case here. As MANO cases are fair value adjusted then the book value at the end of each period illustrates the future value of those cases to the company, from which can deduct net debt or add net cash.Where book value is rapidly compounding I can understand the market adding a premium to book, and when it stops growing I'd expect that premium to be eroded. That is what is happening right now IMO. As for @riverman77 saying that you can't use book value because NAV doesn't match cash receipts, I've no idea how you think a PE valuation rectifies this? MANO are always recognising FV adjusted revenue ahead of overhead costs, so if the business is growing the PE will always flatter to deceive. |
Posted at 20/9/2024 07:10 by chester9 Journeo gave these options to their teamSpot the difference a business confident of delivery. They must deliver 6 pounds double current.Mano oh we will decide if it's been good. New options for Russ and Nick share price ?6 over 90 days before 19 sept 27.Russ70k option at 6 = 420kNick45k option at 6 = 270k2 motivated individuals |
Posted at 20/9/2024 07:07 by chester9 Manolete, a leading UK insolvency litigation financing company announces that on 18 September 2024, it granted nominal cost share options over ordinary shares of 0.4p each in the Company to its executive directors as set out in the table below. DirectorAward typeNumber of shares subject to optionSteven CooklinPerformance share award 200,000Mark TavenerPerformance share award 200,000Philomena HaltonPerformance share award 200,000 The options were granted under the Company's share option plan. The performance share awards will ordinarily vest on the third anniversary of their grant subject to the grantee's continued service and the satisfaction of performance conditions based on (with equal weighting) (i) earnings per share for the Company's financial year ending 31 March 2027; (ii) average share price over the five days preceding the third anniversary of the grant of the options; and (iii) the group's strategic objectives for the period of three financial years ending 31 March 2027. Sliding scale performance targets apply in respect of the earnings per share and average share price elements, with 25% of the relevant portion of each option vesting for threshold performance, rising on a straight-line basis for full vesting of the relevant portion of each option for stretch performance or better. The extent of vesting of the strategic element will be dependent on the remuneration committee of the Board's assessment of related performance. |
Posted at 16/9/2024 22:29 by maddox I can understand shareholders frustrations here - it took about seven months for Covid-19 to hit MANO but its taking far, far longer to recover. The insolvency laws were normalised in April 2022 - here we are nearly two and half years later and still waiting. I never contemplated it would take this long - it's very frustrating to me too and I have the patience of an oyster.Nevertheless, the business model is sound and it's clear that recovery is on the way. Also, MANO is now as cheap as chips. At its peak p/e 22 now p/e 7.2, then price 15x sales, now 2x, then Mkt Cap £210m now £51m. In the short/medium term we have the cartel cases - these are in the books at £15.1m and settlement negotiations are starting. But there is a risk here - these have already been booked as profit - so a settlement at a lower value will generate a p&l loss. However, the settlement cash value is more than the current net debt of £12.3m - that cost c. £1.5m in interest in the full-year 2024. So, removing this expensive debt and becoming self-financing would be a big boost to the bottom line. So, glass half full or half empty - probably an investment proposition of more appeal to those of a contrarian mind-set ....and those with the patience of an oyster. |
Posted at 05/9/2024 13:04 by rmjpb They were never going to need a £25m loan facility, as they don't have the staff to warrant taking on the amount of cases £25m would fund. Far better to reduce your loan facility, to only pay for what you are using. HSBC charge for having the facility, even if it's not used. It was good to hear in the presentation that Mano have being repaying the facility in the last few months from cash flow, rather than it growing. With case sizes expected to go back to pre pandemic levels, and with double the amount of cases on the books, there is huge upside potential to the share price imho. |
Posted at 02/5/2024 11:40 by sallad3 Today's RNS is a disgrace.Regulatory rules prohibit Auditors entering into such contracts with clients. Full stop..no ifs ... no buts. So where was MANO's due diligence? AWOL? MANO should never have accepted the contract in the first place. MANO's own lawyers are bound by Solicitors Regulation Authority Rules but seem to have ignored them. Are MANO bound to hand back the deal? Time will tell. |
Posted at 24/11/2023 22:02 by maddox Manolete - Back to the Future!These financial results provide reassurance that MANO is on the recovery trajectory. It's been a long and painful recovery back from the Govt Covid measures that clattered MANO's business - so it’s great to see that the recovery is clearly underway in last week’s results. The Govt Insovency Service reports monthly CVLs (Company Voluntary Liquidations) that are a leading indicator of market demand. These manifest as cases referred to MANO by the Insolvency Practitioners (IPs). Currently these are running at about +70% above the level that they were in pre-Covid 2019 when MANO’s share price was in the 450p - 550p range some 3x higher than currently. Nevertheless, this is still early days, MANO are still seeing only a trickle of what is likely to become a deluge of cases: >> Firstly, there is a natural delay between a firm lodging a CVL and it being referred to MANO as a case enquiry, so there's more growth to come; >> Secondly, the larger and more complicated cases are still yet to reappear in the figures, these will generate higher returns; and >> Thirdly, Bounce Back Loans are a new post-Covid line of business, that could add significant additional profit. MANO has increased staff to cope with the demand they foresee. Back in 2019 they had the capacity to manage 275 cases simultaneously – whereas they now have 417 live cases. Another, key metric updated in these results is that MANO achieves a phenomenal Internal Rate of Return (IRR) of 131% - this before overheads, which remain well contained. As demand scales-up cash will be absorbed into working capital as new case investments will out-pace case settlements. MANO has drawn £13m of its £25m debt facility with HSBC and shelved its dividend to preserve cash for investment. So, great to see a return to profitability but much more to come and profitability should accelerate fast as operational gearing kicks in. |
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