Mbl Share Discussion Threads

[toback] 03/8/2012 15:19

Tommy I have no need of reading as I have lived it and never got out in time (or heeded the warnings of others).

Was merely saying it is priced to go bust and sounds like it is surviving in which case a re-rating and rehabilitation could be on the way. Rose tinted spectacles.

We do need the real numbers tho so will have to wait a couple more weeks. I have waited this long and will continue holding so i have some more clarity as now is not the time to sell - was a long time ago.

[tommyjnewton] 03/8/2012 13:06

Re ToBack's post

Have you read the past history of this share? Are you aware of the past antics of the management here? It is IMHO crazy to have any confidence in them.
The 53% reduction in remuneration should be 100%.

[timesmoney] 03/8/2012 11:07

Dictionary definition of 'Update' to provide new information. Nothing new here
This is not so much an update as a Eulogy.

[jeffian] 03/8/2012 09:45

As I'd cut and run from this one some time ago, I didn't pick up that they'd bought Garden Bird Supplies. It so happens that my wife, who is an avid bird-feeder and used GBS, mentioned to me a few weeks ago that the quality had fallen off dramatically and she was ending up with as much "dust" as seed. Now I know why! We're changing suppliers.

[toback] 03/8/2012 09:14

Can't quite tell if this is good news or bad news - not totally clear.

But on the basis that it they are able to function and buy the products they need without financing, does a market cap of below £1m not look absurd.

Results could show a positive in terms of ongoing business . . .

Its certainly not dead - is it twitching or now getting better.

[littleweed] 03/8/2012 09:11

Didn't realise C4 was still on air.

[someuwin] 03/8/2012 07:25

Didn't even realise this was still trading.

[curvedair] 20/7/2012 16:21

Has anyone seen Dave Fishwick on C4's "Bank on Dave" (Thurs night). Does he not remind you of TA. The only difference is that TA has a bit more class and drives an Aston MBL Martin where as Dave drives a vulgar red Ferrari...otherwise you can't tell the difference apart from a few obvious physical features (Dave wears a toupe I think). Give them both credit though for their passion, drive and enthusiasm. Not sure that a C5 copycat programme "Bank on Trevor" would please shareholders however.

Timesmoney. I for one will certainly be crowd spotting the Olympics for the MBL board.

Got any left to sell Lisa/Trevor? Post here and I will buy a couple!

[timesmoney] 08/7/2012 15:59

Time to raise the issue of Olympic Tickets...

[345654] 28/6/2012 22:14

Bet you are not smiling, especially when i send them a list of all the names
from memory you have used, harki, 1smart, william47 74graham etc etc from the
old days.

[judgement] 08/6/2012 01:00

Unfortunately I can't recall the company, but there was a situation recently where a member of the company took legal action against the directors, funded by the company.

[kimboy2] 07/6/2012 12:34

I think the legislation exists.



derivative action n. a lawsuit brought by a corporation shareholder against the directors, management and/or other shareholders of the corporation, for a failure by management. In effect, the suing shareholder claims to be acting on behalf of the corporation, because the directors and management are failing to exercise their authority for the benefit of the company and all of its shareholders. This type of suit often arises when there is fraud, mismanagement, self-dealing and/or dishonesty which are being ignored by officers and the Board of Directors of a corporation

Derivative action is covered in section 260 of he companies act in particular section 3;



(3) A derivative claim under this Chapter may be brought only in respect of a cause of action arising from an actual or proposed act or omission involving negligence, default, breach of duty or breach of trust by a director of the company.
The cause of action may be against the director or another person (or both).

It sounds difficult and expensive to me and the people you are suing are probably insured which doesn't help.

I don't know of any successful case.

[davidosh] 07/6/2012 11:59

The challenge against directors personally would have to be paid by them individually or via the indemnity cover by insurers though surely?

A test case may also open floodgates for other shareholders via class actions if they have suffered the same losses presumably due to the same action taken by a director. I have not seen the legal documents relating to the case though. Naturally it is not efficient for one shareholder with just £2k of shares to take legal action by themselves.

[kimboy2] 07/6/2012 11:50

Any success by Sefton could be at the expense of other shareholders then.

[jeffian] 07/6/2012 11:15

"I am not sure what they are basing their case on......"

I think it relates to due diligence carried out by Sefton Group prior to their acquisition of a 14% holding in January 2010.

[kimboy2] 07/6/2012 08:57

Apparently so. I am not sure what they are basing their case on but I presume it is against the directors personally.

IMV the directors have the right to be incompetent and have exercised their rights.

It looks as though the directors and their mates will be able to use the olympic tickets that the shareholders kindly purchased for them.