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MCI Medcaw Investments Plc

0.00 (0.00%)
16 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Medcaw Investments Plc LSE:MCI London Ordinary Share GB00BM8SQP62 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.25 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec 0 -194k -0.0113 -3.76 728.11k
Medcaw Investments Plc is listed in the Offices-holdng Companies sector of the London Stock Exchange with ticker MCI. The last closing price for Medcaw Investments was 4.25p. Over the last year, Medcaw Investments shares have traded in a share price range of 0.00p to 0.00p.

Medcaw Investments currently has 17,132,090 shares in issue. The market capitalisation of Medcaw Investments is £728,113.83 . Medcaw Investments has a price to earnings ratio (PE ratio) of -3.76.

Medcaw Investments Share Discussion Threads

Showing 176 to 196 of 200 messages
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Current share price 18th. July 2023: 4.25p (currently suspended)
22,132,095 shares in issue
Market capitalisation: £940,614.

"On incorporation, the Company issued 5,000,000 Ordinary Shares at an issue price of £0.01 each to raise £50,000.
On 10 February 2021, the Company issued a further 4,750,000 Ordinary Shares at a subscription price of £0.04 as part of the Seed Fundraise, raising a total of £190,000."

MCI raised £0.45M. net in its December 2022 float, at 10p/share.
And on 7th. July 2023 raised a further £400K. gross at 8p/share.

21/12/2022 08:00 UK Regulatory (RNS & others) Medcaw Investments Plc First Day of Dealings on the London Stock Exchange LSE:MCI Medcaw Investments Plc

"Medcaw Investments plc, a company formed for the purpose of undertaking an
acquisition or acquisitions in the life sciences sector life sciences sector,
focusing on companies developing medical or wellness technologies and
therapies, is pleased to announce that, following the publication of its
Prospectus on 16 December 2022, a total of 17,132,095 ordinary shares of £0.01
each in the share capital of the Company will today be admitted to the standard
segment of the Official List of the Financial Conduct Authority and to trading
on the main market for listed securities of the London Stock Exchange plc.

Dealings will commence at 8:00 a.m. today under the TIDM 'MCI' with ISIN number

07/07/2023 16:12 PR Newswire (US) Medcaw Investments Plc - Potential acquisition of near-term Lithium production asset LSE:MCI Medcaw Investments Plc

"Potential acquisition of near-term Lithium production asset

• Signing of conditional implementation agreement with Abyssinian Metals Limited
• Equity Fundraise & Suspension of Trading

Medcaw Investments plc (LSE:MCI), an acquisition vehicle, is pleased to announce that it has entered into a conditional implementation agreement with Abyssinian Metals Limited ("AML"), a company incorporated in Australia and developing the Kenticha lithium project located in Oromia State, Southern Ethiopia.

Subject to the Company being satisfied with technical, legal, accounting, tax, financial, commercial and environmental due diligence on AML the Company will consider making an offer to acquire up to 100% of the entire issued share capital of AML ("AML Shares") in consideration for the issue and allotment of new ordinary shares ("Ordinary Shares") in the Company to the shareholders of AML ("Proposed Transaction"). As at the date of this announcement no decision has made by the Company whether to proceed with an offer for the AML Shares or otherwise and there is no offer that is capable of being accepted by the shareholders of AML.

AML is a clean energy metals company with a focus on the development of the Kenticha lithium project in which it has a 51% legal and beneficial interest and manager of the project with the Oromia State holding 49%. ...

Details of Equity Fundraise

Medcaw has today raised gross proceeds of £400,000 at 8p per share ("New Ordinary Shares") through an equity placement to various high net worth and institutional investors introduced by GIS Global Investment Strategy ("GIS") ("Placement"). The Company has therefore allotted and issued a total of 5,000,000 new Ordinary Shares in the Company. ..."

From MCI's website:-

"About us

Medcaw Investments PLC (“Medcaw”) is a cash shell listed on the Main Market of the London Stock Exchange MCI:LON. Medcaw has recently entered into binding conditional agreement to acquire Abyssinian Metals Limited ("AML"), a company developing the Kenticha lithium project located in Oromia State, Southern Ethiopia. The Kenticha project is a highly evolved, rare element, Lithium Caesium Tantalum (LCT) pegmatite project comparable to other major rare-element pegmatites such as Greenbushes, Tanco, Wodgina, Volta Grande and Altai No.3. Kenticha is a late stage development asset which AML intends to develop with the production of spodumene concentrate planned in stages, with near-term production through a Dense Medium Separation (DMS) modular plant.

At Medcaw we recognise the significant role that lithium plays in the global transition to sustainable energy solutions. As the demand for clean energy continues to surge, lithium has become an indispensable element in the production of lithium-ion batteries, which power electric vehicles and store renewable energy.

Our primary objective is to identify and acquire prospective lithium mining projects across Africa, a continent rich in mineral resources and untapped potential. We believe that Africa presents a unique opportunity for lithium mining, with its abundant lithium deposits and favorable investment climate. By focusing on this region, we aim to become a key player in the lithium market, meeting the growing demand and contributing to the sustainable energy revolution."

hedgehog 100
is a website on which Mr David Nabarro has listed his reasons as to why we as shareholders need to do something about the Mcinerney situation.
Please give it a read.

light at the end of the tunnel
Rating agency Fitch has said it expects further falls in both residential and commercial property prices in Ireland

t added that the full effect of the mortgage market stress has yet to be seen and said that while arrears levels continue to increase, very few houses have been repossessed so far. It also expressed concern about the slow pace of banks foreclosing on mortgage arrears

Record fall for British house prices

British house prices plunged a record 3.6 per cent on the month in September, mortgage lender Halifax said, in a further sign the housing market is rapidly losing steam after a pick-up last year. Halifax said the fall was the biggest since records began in 1983.

A survey of the property market carried out for the Irish Independent shows that house prices have continued to fall over the past four months.
TWO of Ireland's leading companies, regional airline Aer Arann and well known housebuilder McInerney, face an uncertain future after both went into examinership
Former Anglo Irish Bank number two Willie McAteer has lost a fortune on his stake in the crippled housebuilder McInerney.

Anglo Irish lent huge sums to the company while Mr McAteer was the bank's finance director.

Shares in McInerney hit new lows last week after reports that it was considering going into examinership.

Readymix say things have gotten worse

Building materials group Readymix has said that the exceptionally challenging trading conditions experienced since 2007 have deteriorated even further during this year. In line with the exceptional weakness across the construction sector, the firm said that demand for products continues to decline, and revenues from operations are down 3pc from last year.

David O'Brien, an analyst with Goodbody stockbrokers, remains pessimistic.

"Following an impairment of €156m in full year 2009, McInerney is left with a negative equity position to the tune of €92m, with net debt of €236m. Given the company's ominous financial position we remain negative on the company

mci was ca 7.5p in June
With news of new cash injector (Aug 9) looks like it's trying to edge back up;
up 12% today

no volume though and an ugly spread.

McInerney fights for its life this week
Our underlying operations are sound but our capital base and |
| structure would impede the ability of the Group to trade |
| through to an expected slow market recovery phase. Goldman |
|Sachs International has been engaged as financial adviser to |
| assist the Group in a review of its strategic alternatives. |
| To date, Goldman Sachs International have completed a full |
| review of our structure and operations. They continue to |
| work jointly with our senior executive team and will report |
| back to the Board in due course. The Board are of the view that a restructuring or new equity raise is the correct strategy for the Group and is in the best interests of all stakeholders. However, there can be no guarantee of success. Any such process may involve significant dilution of existing equity holders. We will give a further update on | progress with the interim results at the end of August, unless there are any material developments before then. |
|In the meantime, the Board seeks to continually achieve increased cost efficiencies and has undertaken a number of specific actions in recent months. These included continuing |
| head count reductions and significant cuts in remuneration for Executive Directors and Non Executive Directors.

O/T check out IRG. DYOR & GL
HOUSE prices are likely to plunge by a further 16% before the bottom of the market is reached, according to Goodbody Stockbrokers.

This comes as figures show 200,000 homeowners are facing a negative equity nightmare this year

Property prices continue to fall
House prices still far from bottom, warns economist
Bailed-out banks 'stifling credit' to lower-paid workers
Land rezoned for 800,000 more homes than needed
300,000 home owners facing negative equity

HALF of the country's homeowners will soon owe more on their mortgage than their house is worth

BANK of Ireland last night warned it is planning a new round of hikes in mortgage and business loan rates

A report from NCB stockbrokers has outlined that as many as 45pc of householders could owe more on their mortgage than their house is worth.

NCB economist Brian Devine says that house prices, as officially measured, are still overvalued

Trouble in paradise as value of that second home in the sun dries up
Selling that holiday home to get out of negative equity is not all that simple

Quinn must be perplexed at the goings-on over at McInerney

Sean Quinn says he bitterly regrets his investment in Anglo Irish Bank, but the Cavan man must be stunned by what's happening over at McInerney, the housebuilder, where his insurance company has a stake of almost 5pc.

The score card of the current management team is pretty dismal and now a key member of that management team, chief executive Barry O'Connor, is stepping aside in an attempt to buy up its Spanish operations. Shareholders are understandably pretty upset at O'Connor already, but they will be even more upset if the Spanish assets are sold without getting the maximum possible value from the transaction.

The company's balance sheet is currently insolvent to the tune of €92.5m and the company is in breach of its bank covenants. The tale of woe doesn't stop there.

Writedowns in 2009 alone came to a crippling €127m and the company only has a market value of €26.2m. The decision of the company's management team to buy land banks in the run-up to the housing bust was a catastrophic error, although the company comments this week, presumably not ironically, that at least having access to land won't be a problem "when the market returns to growth''.

A more cautious battening down the hatches approach in the pre-credit crunch period would have saved the company's shareholders, including Mr Quinn, an awful lot of pain. Now the talk is of money being raised from existing shareholders, diluting the stakes of those hapless shareholders who don't want to incinerate any more of their cash. This presumably includes Mr Quinn?

Despite the appalling performance, the remuneration of directors actually rose last year to €3m as an executive director was compensated for loss of employment to the tune of €843,208. The Spanish deal with Mr O'Connor could make sense if the price is right, but after everything that has happened, shareholders are right to be deeply sceptical and also deeply annoyed.

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