Mereo Biopharma Share Discussion Threads

[dan de lion] 03/2/2008 09:42

Thats to do with John Harrison who was a temporary FD.?

[baronet 1] 03/2/2008 09:09

Yes the 26th July 2007 and the following

JB

[dan de lion] 03/2/2008 07:19

Baronet:-

July 2007?

[baronet 1] 02/2/2008 20:25

The key to this was Greg Tuffnel and July 2007. As always DYOR.

JB

[0o0] 02/2/2008 20:15

Probably best to stop assesing Marchpole the company but Michael Morris the man. It is effectively MM that you are investing in, not Marchpole PLC. Last time it all went pear shaped (thanks to MM) Greg Tuffnel saved the day, (GT has since walked), the bet now is possibly on a new business angel turning up or MM leaving the building.

Major roadblock is that Marchpole was built on MM's contacts and influence. Will it survive without him? Is it worthless without him? Is it a fantastic punt if he goes? Will he go?

[1947jim] 02/2/2008 20:01

Am surprised at you guys , which i guess you are good at all this....... it was very clear that with falling sales , and increased borrowings that something was wrong...........yet you are all surprised when the IMG is issued. Future
''possibilities'' are not same as today reality.
Agree with deansrobert that management is poor, and does not seem to understand
the reality of 'difficult trading'. Costs have to be cut before the losses impact too much on trading results.
Its clear the USA is a disaster area, the new retail experiment will for sure lose money for at least 5 years ( and I still continue with wholesalers should not be retailers !! )
Dont worry so much ref EPS and P/E and divi --- look at how the company is doing in the market place ----- then you wont be surprised so fast.
Am sure there are deals in the 'pipeline' , I suppose --- but the basics of the current business need to be addressed, and be sound. If trading is good the
EPS + P/E + divi will all be solved.
The basic problem with MPH is that everything is done with borrowed money, and big margins ( which dont exist today, unless you are microsoft --) are not
in the wholesale/retail sector for too long.

[momentos] 02/2/2008 13:12

Just for the record, Marchpole are not AIM. So you can, if you wish, stick it in your ISA and double-shaft yourself by making losses non-offset-able... T-shirt? you can have mine!

[dumbarton2] 02/2/2008 10:36

Directors of PLC's are liable in law for neglicence/reckless bahavious and in my opinion prior to the last results the board of MPH have been grossly negligent.

I would have thought most directors would be adequately insured.

[dumbarton2] 02/2/2008 10:31

Its important to complain first its less risky for sharehoders.

Let me give you an example. The London Stock Exchange have ruled against SUB. That said the directors have little defence agaisnt a shareholder action against them if shareholder desire. Thats my opinion.

It matters not what happens to the company if the directors are found liable. Their insurers would pay up. As has been mentioned on other boards there is many a solicitor would take on cases of this nature on a no win no fee basis.

There is also the small claims court for small amounts of money.

Dont sit back send out your letters of complaint to the appropriate departments.

[verulamium] 02/2/2008 10:03

Wouldn't a complaint to the FSA lead most likely to a fine being levied on the company which the FSA would keep, making the shareholders lose out twice? The FSA is a toothless, ineffective, bureaucratic waste of space and I've yet to hear of them doing anything to actually help shareholders...perhaps you know otherwise?

Action against Morris would undoubtedly be justified, but again could be unwise given his familiarity with the legal system and financial reserves. And even if the shareholders won, he'd release an RNS saying he'd won ;-)

[dumbarton2] 02/2/2008 09:45

Dont forget to read my earlier posts. Although MPH is not an Aim stock I think they have breached London Stock exhchange rules in realtion various statements they have made. Notwithstanding they shoudl have come out with a profit warning prior to last results.

Anyone suffering losses has a potential claim against all directors imo. Check out the ii board its been posted on there as well.

I would suggest letters to the FSA and London Stock exchange is the first step to outine the complaints. I believe shareholders past and present that have suffered losses have a very good case for compensation.

Good luck I do not hold!

[foxking] 02/2/2008 06:10

Smith,

Why do you include your IQ after your name ?

No wonder you couldn't make it at Utd !!

[alansmith23] 02/2/2008 02:07

PET target 40p

MPH target 0

[traidemark] 01/2/2008 21:20

used to hold these myself sold as it broke down through £1, looks grim and i sympathise with any holders that are left.

difficult to make the money back in todays markets but there is quality out there.

i moved to PET, as did wbj (someone asked if he got out)and a few other names from the early days here, not a ramp but please have a look, or ask wbj for his opinion.

excellent thread here



not a ramp as im looking at holding for a number of years but id like to see you get your money back as it looks very poor here.

[cyberpost] 01/2/2008 20:09

what is so amazing is that their house brokers Shore actually issued a note only 3 days ago :


2008 2009
Date Rec Pre-tax EPS DPS Pre-tax EPS DPS
Shore Capital 28/01/2008 CORP 4.20 10.1 3.80 7.90 18.9 4.40


so being House Brokers didnt they forward the note to the company for approval ? or could it be MPH were effectively forced into issuing this warning because the broker note was way off the mark ?

[topvest] 01/2/2008 19:32

Probably a very good punt now if goes down much more. Not encouraging that no comments made on borrowings or dividend. Could go bust or recover. Upside more than downside I would guess, but very risky. It's a case of the share price was right, directors wrong (given they bought shares in Nov and said the company was very undervalued)!

[momentos] 01/2/2008 18:39

I think the case for action against the company is far from weak:

Marchpole have SUBSTANTIAL visibility on sales throughput in advance. They book sales at the point of delivery. So one has to assume orders (esp from the large stores) are taken prior to manufacture. That makes a lead time of several months.

I find it hard to believe that they were not aware of the shortfall a while ago. It appears some dosh to cover the shortfall will arrive next financial year (or the structure of the OB settlement effectively removed it into future earnings). And there are no fair value over acquisition costs available this year.....

Sorry for those long termers not out on the first fall in November. I even feel lucky now to have got out c 68p from average 115p. Those punting since knew the risks tbh. I'm glad you abandoned your re-invest wbj.

The 2007/8 results should be a kitchen sink job. The question is, will the future earnings look good in subsequent years? No idea. Not for widows, orphans or investors. Only punters.

[arthurly] 01/2/2008 17:44

wbj - try gng - it may be Chinese but quality management - ex IBM, Xerox etc. Turnover should rise by 120% this year.

[wbjunior] 01/2/2008 17:23

AndyH78 got out at 87p a while ago, sorry for all left in but cant trust the management here any more..............................wbj

[momentos] 01/2/2008 16:54

No one left to cull, bar Morris and I cant see hari kiri as his style...!

AS for Dou Dou, yes that the one. Shortly to be renamed Do Do.

[rrogans] 01/2/2008 16:31

Hi momentos, the JCC perfume? wasn't that the one that was poignantly called 'Dou Dou'?

God, I can remember writing on the Motley Fool not so long ago, and the lack of debt was a big selling point. Even if they do turn it round, it is hard to see how the management will be able to restore any credibility unless there is some sort of cull.