Mbl Share Discussion Threads

[someuwin] 03/2/2011 13:43

Interesting posts birdsofafeather.

Can I ask what you think the current state of MBL is?

[typo56] 03/2/2011 13:41

Timesmoney:

It's public knowledge that James Allan is a director of Media Sales Direct Ltd and Sales Media Solutions Ltd. His interest in Media Sales Direct Ltd was declared in the 2010 Annual Report as a related party transaction. In fact, rather bizarrely, Trevor Allan was initially a director too, although I don't believe this was ever declared by MUBL. There was nothing declared in the 2009 Annual report about their transactions with MSD Ltd or SMS Ltd.

As far as I can tell, Sales Media Solutions Ltd and subsequently Media Sales Direct Ltd were formed in order to act as a conduit for product to supply to MUBL. It's not clear what margin was made on these transactions by MSD Ltd and SMS Ltd.

It's also not clear why SMS Ltd was allowed to go insolvent and MSD Ltd formed. Companies House give indications that somebody (possibly HMRC) was taking action to prevent SMS Ltd being struck of the register.

One question worth raising is how traceable is the the product sourced through SMS Ltd and MSD Ltd? What's its origin?

[timesmoney] 03/2/2011 13:14

Shareholders may well want to raise the issue of Sales Media Solutions and Media Sales Direct with the Chairman.
Amongst the questions could be.
1. Does James Allan run these companies?
2. Is James Allan a sharholder in these companies?
3. If Yes, Is this the same James Allan who was a director, employee and shareholder of MUBL?
4. Do these companies sell exclusively to MUBL, if not what percentage of their sales are to MUBL?
5. Of the companies providing goods to Sales Media solutions and Media sales direct, has MUBL ever dealt directly with these companies.

[typo56] 03/2/2011 11:58

The Hastings eaterie won't come as a surprise to any MUBL shareholders who've done a bit of basic research.

It was previously owned by Michael Botes when it was called The Sparling but, following difficult trading in Christmas 2008, he received "an offer he could not refuse" from his former executive chef Warrick Dodds and two other shareholders, James and Trevor Allan.



With the Allan's proven track record this is presumably a shewd investment and not a vanity enterprise.





When you're at Companies House you might as well look at the records for Sales Media Solutions and Media Sales Direct - their sole function being to supply MUBL.

[masurenguy] 03/2/2011 11:40

Timesmoney - 3454: Good to see TA is focussed on the business. But no doubt these outside interests will have been cleared by the non execs.

Non-Execs - what non-execs ??? There is only one non-exec - Peter Cowgill, who was awarded a £300,000 bonus by TA not long ago. Consequently it's probably quite likely that he will be keeping a weather eye on just how much time TA is devoting to his other business interests !

davidosh - 3404 of 3454: There is no mention of the Servassure MD role at Daisy either !?

This really intrigues me. Walsh-Hill was appointed MD of Servassure in November 2009, not long after Daisy acquired them in a pre-pack from the administrator. Why is it that the most senior role that he appears to have had to date has just been completely 'airbrushed' from his business history and also from the RNS detailing his other directorships over the past 5 years. Why is it that the culture of this company appears to obfuscate so many aspects of its business !

[timesmoney] 03/2/2011 11:30

Good to see TA is focussed on the business. But no doubt these outside interests will have been cleared by the non execs.

[ksombl] 02/2/2011 22:25

If TA finds himself with time on his hands over the next few months then we will know where to find him.




Another business be owns with his brother, James

[jonc] 02/2/2011 22:19

This has DVS written all over it.

[ksombl] 02/2/2011 22:14

And what is this one all about



This has not been mentioned before, looks like their wholesaling division with a new name

[ksombl] 02/2/2011 22:13

Another new business for MBL
Company registered today



A similar company name



Lead me to discover a DVD rental company
If this is another TA investment then with the announcement of the Amazon/Love film deal last week then it looks like he is late to the market again!

[ksombl] 02/2/2011 21:39

What's the update on their new mooted warehouse complex in Darwen?

Is it on the back burner?

Originally to open in October 2010

[ksombl] 02/2/2011 21:36

MBL Commercial Director, Paul Ludlam, previous director at EUK, has left the business.

It will be interesting to see who else, and how many will be departing
I suspect that the MBL buyers may not be needed if they are fortunate to win the tender for Morrison box shifting contract, as Morrisons will have their own buyers dealing direct with the suppliers.

If TA can sell the existing to stock to Morrisons for £10m then he will the magician of the entertainment industry.

I have seen their stock list, and if they were to get £3m IMO then that would be a miracle.

[kimboy2] 02/2/2011 21:28

I don't know what the terms of the MUBL contracts are with MUBL are. However the gross margin has been relatively stabe and the operating margin more variable.

That would suggest to me that the liklihood is that they get a fixed gross margin on goods (cost+), and that variations are due to the mix of goods.

I can't see anyparticular reason why MRW would take it in house if they can outsource at the right price.

[ksombl] 02/2/2011 21:26

Has anybody noticed that Allan Livesey a director at U-xplore also declared his interest in MBL with 222,000 shares (1.3%)

[charliebrown2000] 02/2/2011 20:14

Can't tell if you're being sarcastic Des, but the addition of three meaningless words (what new business activity and strategy backs up this description - the products on offer look exactly the same as ever) on the web page shouldn't be something to get excited about. Try reading the blog on the GMV site. If things were half as rosy as it makes out we wouldn't have any worries!

[charliebrown2000] 02/2/2011 20:05

I don't see the significance of whether its bought / sold or traded on a cost+ basis, as I see it the buying from suppliers is done by MUBL and the numbers go through its books. If that changes and MUBL just gets paid to handle stock, the numbers will look a whole lot different and so will its power to secure best terms with suppliers. As for Bee.com, I think its too little too late. Online entertainment needs massive scale to be competitive. You're going up against Amazon, Tesco, Play.com. The winner in that business is ultimately the one who has biggest buying power (trade discounts) and deepest pockets (marketing). For others - and I include Tesco - its just an added feature to scoop up spare change, not core, and therefore able to run at b/e if it helps the overall marketing to drive traffic. Not a great market to be in if you are small and trying to make a decent profit.

[deswalker] 02/2/2011 19:56

Is it me or hasn't the U-Explore website morphed into something beyond online careers advice in schools ? They're now a "digital media company" ...

And we've got 15% of this baby.

[charliebrown2000] 02/2/2011 17:01

Hmm. Lot's of great discussion, but shocking how much guesswork needs to be applied. The lack of info from this company is astonishing. Even if MUBL keeps Morr, what might they be left with? At the moment, I believe MUBL buys stock and the sells the stock on to Morr. But all of the major supermarkets except Morr are now buying directly - expect Morr to go the same way, leaving MUBL the low value, low margin work of distribution only. Plenty of big competitors for that type of business where scale is vital if you want to make a margin. And what impact will that drop in buying power have on MUBLs ability to get the big discounts and terms from suppliers and therefore its competitiveness with other clients? Sainsbury's online - hmm - not a resounding success by any measure. Lots of problems and complaints from customers, refunds, no downloads, etc., etc. As for Davidosh's rose tinted view of GMV and its value, well, I suggest he goes beyond the sweet nothings he heard and looks for the evidence in the market - anything live yet beyond the odd trial? I spent a lot of time searching the Mobily website recently and amongst the News items found no reference whatever to these fantastic kiosks. Everyone knows that these tech startups are money pits and this is a minnow trying to take on whales. As for U Explore - please! As has been pointed out before, who is going to pay for this service aimed at helping people find work? This govt is cutting spending on an unprecedented scale - hospitals, schools, massive job cuts - I don't see any public sector money being spent on this non-essential service. So what are you left with when the smoke clears? A small distributor who's biggest client appears to be leaving town which owns 100% of a company that doesn't appear to have delivered anything (Sainsbury's online is all about shifting physical stock, no sign of digital apart from talk) in the 3 yrs or so that its been running (ouch, how much must that be costing every month) and 15% of a business that has absolutely no connection with the entertainment or distribution business (don't tell me your going to sell downloads and dvds to these unemployed kids, I'll pee myself laughing). Oh, and what about Bee.com - anyone remember them?

[miamisteve] 02/2/2011 16:54

We can vote him out. We need 10% of issued share capital to force an EGM - a 'vote of no confidence' etc., or review of bonus structure. Even if didn't then get the required 51% it would expose the issue and probably pressure TA / PC into some sort of climb down.

[fft] 02/2/2011 16:43

Is TA prepared to bring his salary/bonus down to a level normal for a company of the size of MUBL. Morrisons can obviously see a million or so in savings there !

Perhaps if TA ate humble pie, reduced his salary and said he would now take money out as dividends that would help to make everyone happier.

Is TA prepared to bluff (or be so stubborn) his way to failure ?

Real pity we cant vote him out.

[davidosh] 02/2/2011 16:38

Naturally my thoughts have always been that after ten years with one supplier the Morrisons contract should be secure but always a question of how much they try to tighten the screw each time it is up for renewal. My hope had been that the ability to provide an online site could have been an additional card to play at the table. We shall have to see how it plays out but anyone thinking automatically that the last RNS means the contract is going is certainly under a misconception IMO.

[liarspoker] 02/2/2011 16:37

But why take back stock ? Has stock been taken back previously ?