Share Name Share Symbol Market Type Share ISIN Share Description
Mercantile Ports & Logistics Limited LSE:MPL London Ordinary Share GG00B53M7D91 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.23 0.22 0.24 0.23 0.23 0.23 194,507 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 0.0 -5.0 0.0 - 4

Mercantile Ports & Logis... Share Discussion Threads

Showing 3801 to 3821 of 3825 messages
Chat Pages: 153  152  151  150  149  148  147  146  145  144  143  142  Older
This is what The Sherrif of AIM had to say last year - unsurprisingly, the valuation has since dropped 85%. Mercantile Ports & Logistics – how do AIM and Nomad Cenkos put up with the stench? By The Sheriff of AIM | Monday 18 November 2019 'Okay AIM is loathe to boot off any company given how the World’s Most Successful Growth market is shrinking and Lagos Securities just wants retainers so will act for anyone, I answer my own question. But even by the standards of the AIM Cesspit, surely there comes a point where one says “enough is enough.” We have demonstrated time and time again how Mercantile Ports & Logistics (MPL) has misled investors regarding the port it plans to build in Bombay as you can see HERE and have also noted how the chairman Nikhil Gandhi keeps on getting caught up in major financial scandals. A kind reader alerts me to one I missed from late July. According to a fine online publication in India, The Business Standard: “Continuing its crackdown on those involved in the Infrastructure Leasing & Financial Services (IL&FS) fiasco, the Enforcement Directorate (ED) has searched homes and business premises of at least four industrialists for alleged irregularities in loans taken by them from a financial subsidiary of the beleaguered company. Rishi Agarwal, promoter of ABG conglomerate, C Sivasankaran of Siva Industries, Nikhil Gandhi, executive chairman of SKIL Infrastructure, and Viren Ahuja, promoter of Flemingo Geowork were searched by the ED. The search operation was conducted at multiple locations.” Of course a man is innocent until proven guilty. But in the past Gandhi has ended up the wrong side of legal investigations. I know Cenkos will act for anyone but does AIM still insist that Gandhi is a fit and proper person to be a chairman of a listed entity? And if so then who is not? At 1.5p to sell, down from 12p three years ago, the stance remains sell. This stock is utterly uninvestable, it is simply not investment grade.'
mount teide
Has no one been arrested for this scam yet ? The whole thing is absurd and brings shame on the London stock exchange, all of its members, investors and infact any party connected with the British financial community
my retirement fund
Debt repayments: £15.1 million of payments to be repaid in the 2 year period from 1 January 2020 too 31 December 2021 ! Then after that there is only another circa £75m of loan capital and interest left to repay over the following 5 years! Lol! The 'Board' could go on tour with material like that !
mount teide
Results/Revenue exactly as we predicted. Why oh why didn't the SFO and Market Regulator do their jobs and act on the mountain of evidence and catalogue of red flags to shut these shysters down many years ago. They've raised in equity and debt nearly £200m and blown through circa £185m to build something that would have cost around £30m at best in Europe, never mind India! With respect to much of the Blue Chip Institutional shareholder register - you were warned in the strongest possible terms three years ago what was going on here and arrogantly dismissed the evidence or were simply unable to accept what it was telling you, despite having it presented on a silver platter and explained in detail. Never has the phrase "A fool and his money is soon parted" been more apt! AIOHO/DYOR
mount teide
£2m in admin costs, 155k of revenue... hell.
The year end financial report tells you a number of things, including they will be using it to raise more funds from the unsuspecting. Going concern staetment: Basis for qualified opinion The group holds cash in a bank account in India, with a balance of £4.8 million included within cash and cash equivalents in the consolidated statement of financial position as of 31 December 2019. We were unable to obtain an external confirmation from the bank in respect of this account and were unable to obtain sufficient appropriate audit evidence regarding the bank balance using other audit procedures.. Consequently, we were unable to determine whether any adjustments to this amount were necessary. Material uncertainty related to going concern We draw attention to the going concern note within note 2(a) in the group financial statements, which indicates that the directors’ assumptions of the effects of Covid-19 on the Group’s operations will lead to a material reduction in the Group’s revenues and results for 2020. This could result in the breach of banking covenants unless a waiver agreement is reached with the lenders. As stated in the going concern note within note 2(a), these events or conditions, along with the other matters as set forth in the going concern note within note 2(a), indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. In concluding that there is a material uncertainty, our audit work included, but was not restricted to: • Assessing the construction, integrity and accuracy of the model used by management for the purposes of cash flow forecasting; • Agreeing key inputs into the model, such as revenue and cost assumptions, to underlying budgets and forecasts approved by the Board; INDEPENDENT AUDITOR’S REPORT to the members of Mercantile Ports & Logistics Limited • Challenging the appropriateness of key judgements and key assumptions made in the group’s cash flow forecast model, including the appropriateness of the sensitivities used during the forecast period; • Assessing the projected level of liquidity headroom in the group’s cash flow forecast model over the going concern period; • Assessing compliance with financial covenants during the forecast period; and • Challenging management on the sufficiency and appropriateness of the disclosures within the notes to the financial statements.
"I believe that we are well positioned in every way to perform strongly as restrictions are lifted and trading conditions improve."
"As stated in their audit opinion, our independent auditor was not able to verify a closing balance of GBP 4.8 million on December 31st 2019 from one of our bank accounts in India." Oh dear. Current revenue wont even service the interest on the debt once the covid deferral is over. Unless all those promised contracts come in - which knowing this lot they wont.
Oooh they actually made the deadline!
Lots of expenses to add up taking time?...
Amazing really, how many times can they extend? I was tempted to have a punt but it might get suspend by the middle of next week so not exactly encouraging!
Well September is nearing completion folks, how much am i bid for another extension? 2 to 1 favourite.
Hearing in the news money laundering in banks went unnoticed...
Seems to be another organised pump of MPL on twitter and LSE board, leaving all negativity on page 2 or 3.
Bollywood movie?...
is coming soon
What's the sudden flurry all about?
surprised they went mute on land by August blah blah blah, but here is why hTTps:// dear oh dear
Hate to say it, but sometimes one comes across an attitude (in some emerging markets) that it is perfectly acceptable to ‘pull a fast one’ on foreign institutions. It’s viewed as a kind of victimless crime, whereas the art of haggling is seen as a noble and ancient custom. Think Robin Hood on steroids. At the extreme, the thinking is: foreign institutions are rich, greedy, lazy and born with privilege; hence, it is ok for me to apply all my human capital (cunning, effort, connections,reputation, etc) to extract as much monetary capital from them as I can. By that measure, this management team wins the gold medal!
The management team must be very good sales men, to get away with this for years. Did anyway ever go to a agm and question how they manage to spend 25k on expenses ever month? How the hell did they get away with it for 9 years without being smack by a share holder ?
Indeed, why else would they appoint a bucketshop as joint broker?
Chat Pages: 153  152  151  150  149  148  147  146  145  144  143  142  Older
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