Mbl Share Discussion Threads

[fft] 30/9/2011 03:32

Maybe i misheard, but at the meeting with PC on the Tuesday before the AGM, he mentioned that Bee had 2 shops. At the AGM 6 days later, it is now 4 shops.

[strollingmolby] 29/9/2011 20:08

Thnks for the pointer above to the Sefton Accounts - interesting info from the largest independent shareholder. Shows just how illiquid small cap shares are if you get caught holding too many when the muck hits the fan.

[kimboy2] 29/9/2011 19:11

To me it just seems to be chasing HMV down the pan.

[timesmoney] 29/9/2011 19:09

Any obligation on the Board or the auditors to inform Shareholders that the Groups largest independent Shareholder is considering legal action against the group and/or the Directors?

[davidosh] 29/9/2011 14:43

The figures are in the accounts under the retail heading. There were only two up to March but they now have four. Not sure of the exact date the first one opened but was it announced in the trade press from memory ?

[kimboy2] 29/9/2011 14:04

Are the shops the new strategy ? Were any figures given ?

[davidosh] 29/9/2011 13:58

alroyrob...Not sure if you are trying to blame other investors for your own investment here but clearly we are all responsible for our own decision making and even Bill Gates investing in Carpetright does not make me feel like buying any on a p/e of 45 for example.

We always need to do our own research but the problem here is that we were clearly fed misleading information at best...Morrisons contract through 2012 RNS for example. On top of that the UXplore deal and warehouse debacle cannot have been foreseen by investors so cash sadly turned to dust.

The largest shareholder must think they have a case to be answered. I just need to understand how any potential future business can deliver and a compromise can be found where all shareholders benefit from here ?

[alroyrob] 29/9/2011 13:02

"It will be interesting to see how investors will benefit from here" LOL

Well, yes, it will be very interesting to see a 'miracle' happen!

It disgusts me that the management are accusing this Bulletin Board of damaging the reputation of this company.
Without the posters earlier reports of the scandalous dealings of this management I would have probably stayed invested longer in this company and lost even more money than I did !! For that reason I am grateful of the knowledge shared on this BB. I am only sorry that I was ever convinced,(by so called gurus on TMF ) to invest here in the first place. :o(

[effortless cool] 29/9/2011 12:30

Or honesty?

[kimboy2] 29/9/2011 12:29

Isn't the fundamental issue competence ?

[davidosh] 29/9/2011 10:34

CharlieBrown2000...Stop trying to wind up the private investors here. If you had shares and lost money it is rather pathetic that you did not find the time to learn from your mistake and attend the AGM to seek answers as many of us chose to do.

We are now aware of the official answers to the majority of questions. There are more to ask having reflected some more and certain shareholders have sent in written requests and no doubt await the replies. We are very aware that the major shareholder is threatening litigation and there appear to be issues that the Board would not discuss at the Agm because of that.

Naturally this discussion board is very useful and has made shareholders very aware of certain challenges to the business and highlighted weaknesses and conflicts. There have been major corporate governance concerns and it will be interesting to see how shareholders can benefit from here.

Will the new shop concept work ?

How much more money will come in from the Morrison stock unwind ?

What is the value of the assets for sale ?

Will Windsong drive continued profit growth

What will happen to the core supply business from here ?

If MBL remains public what should the board composition be ?

Still lots of questions.

[kimboy2] 29/9/2011 10:02

Yes it does seem a bit of chicken and egg.

I would also presume with Sefton apparently planning potentially personal litigation that they wouldn't want shareholders joining up the dots.

[deswalker] 29/9/2011 10:02

CharlieBrown - perhaps the time for talking has finished.

[timesmoney] 29/9/2011 09:38

Silly me. I thought staggering mismanagement, dubious related party transactions, innept acquisitions and outrageous bonus payments may have had someting to do with the demise of MBL. But no... Its comments on this BB!

[someuwin] 29/9/2011 09:16

When management starts blaming 'chatter' on BB's for their misfortune you know things are terminal.

[charliebrown2000] 29/9/2011 09:12

The silence speaks for itself. Nothing positive to say and scared to criticise. If Bee.com is the hope for the future, you're well and truly lost and TA / PC laugh all the way to the bank. Participants on this BB aren't all looking to knock this company in an unreasonable way but they do expect open debate, sharing of pov and information. Well, you know the saying about good men doing nothing and I guess those who are keeping quiet are complicit in the bad management of this company. So glad I dumped this stock ages ago. What a lesson in the gullibility of some private investors!

[tiswas] 29/9/2011 08:26

Thanks for pointing that out Des.

Ironic that people think it is BB chatter that is damaging the company!

[deswalker] 29/9/2011 08:19

I was at the meeting.

All the issues were covered at length.

PC made a robust defence of everything in the past. People made their judgement about the veracity of this defence.

TA said nothing about the past but was enthused about developing bee.com.

There was an appeal to stop the chatter on these boards as they say it is damaging the company.

Very prominently, according to page 1 of the Sefton Group's AR (downloadable from their website) they are currently consulting with lawyers on all the issues.

I'll not say any more and the above is an objective summary of what was discussed.

[tiswas] 29/9/2011 07:54

Well, no movement in the share price so can only assume nothing too exciting. They must have agreed a vow of silence on the coach on the way back.

Can't say I blame them, one hell of a trip, although I would have been sorely tempted myself if I could have got out of work.

[timesmoney] 27/9/2011 10:00

Can anyone who attended let us know the highlights and the lowlights?
Any resignations? Apologies? comical defences? Or anything relevant?

[kimboy2] 27/9/2011 09:41

Did anyone get a sight of the warehouse ?

[effortless cool] 27/9/2011 09:11

.... but failed to reach a consensus?

[alunmorris] 27/9/2011 08:31

>Are you schizophrenic, Alun?

I have asked myself that question.

[effortless cool] 26/9/2011 17:10

Are you schizophrenic, Alun?

[alunmorris] 26/9/2011 17:07

Adjourned? Not really but if must've been one of the longest AGMs and credit to the board for allowing hours of Q&A.