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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Meriden Grp | MRD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.04 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.04 | 0.04 |
| Top Posts |
|---|
Posted at 23/8/2008 07:24 by sagem zinyowem -.i have a very spooky feeling that things will be good....no news is good newsJUST A REMINDER TO ALL MRD INVESTORS RNS Number : 3147A Meriden Group PLC 31 July 2008 MERIDEN GROUP PLC FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2007 Meriden Group plc, the investing company, announces its final results for the year ended 31 December 2007. Highlights · Pre-tax losses of £207,427 (2006 - loss of £1,577,358) · Loss per share of 0.06 pence (2006 loss of 0.46 pence) · Negotiations ongoing regarding an acquisition which, if consummated, would constitute a reverse takeover · Directors do not recommend payment of a dividend Enquiries Rick Payne, Chairman Tel: 01606 721300 CHAIRMAN'S STATEMENT Introduction I am pleased to present my Chairman's report for Meriden Group plc for the year ended 31 December 2007. Results During the period the Company made pre-tax losses of £207,427 (2006 - loss of £1,577,358) representing a loss per share of 0.06 pence (2006 - loss of 0.46 pence) Events during the year On 16 August 2007, Russell Stevens resigned as a director in order to pursue other business interests. I and my fellow Director, Stephen Black, joined the board on that date and we would like to thank Russell for his contribution to the Company and wish him every success in the future. On 9 June 2008 the Company announced that it was in detailed negotiations regarding an acquisition which, if consummated, would constitute a reverse takeover under the AIM Rules. The acquisition would be subject to the approval of shareholders and the granting by the Takeover Panel of a waiver of the obligation on the Company to make a general offer under Rule 9 of the City Code on Takeovers and Mergers. Since the Company had been unable to complete a reverse takeover prior to 9 June 2008, being 12 months after the Company became an investing company pursuant to the AIM Rules, trading in the Company's shares on AIM was suspended on that date. Restoration of trading will occur upon publication of the Company's circular and AIM admission document relating to the acquisition. European Commercial Trust Limited, a substantial shareholder in the Company, has made funds available to the Company to enable the Company to continue the search for a suitable candidate for a reverse takeover. R Payne 30 July 2008 DIRECTORS' REPORT The directors present their report together with the audited financial statements for the period ended 31 December 2007. The financial statements have been prepared in accordance with International Financial Reporting Standards ('IFRS') as adopted by the European Union, applied in accordance with the provisions of the Companies Act 1985 and present financial information on the Company only. Principal activity The principal activity of the Company is that of an investing company quoted on AIM. Business review The Company did not trade during the year under review. The Company incurred administrative expenses during the year of £207,550, of which £155,981 related to payments made to Russell Stevens as compensation for loss of office and in lieu of his notice period. On 7 September 2007 the shareholders and creditors of the Company were informed that the Creditors Voluntary Arrangement ('CVA'), entered into on 11 December 2006, had been completed and that the Company had complied fully with the terms of the arrangement and any claims against it had been completely extinguished. European Commercial Trust Limited, the Company's significant shareholder, has provided the Company with total funds of £253,430 during the year to cover administrative expenses. The Directors will preserve the Company's existing cash resources while actively pursuing acquisition opportunities. To help this, European Commercial Trust Limited has made further funds available to the Company to continue the search for a suitable candidate. The Directors are unable to recommend the payment of a final dividend. Financial risk management Despite its limited activities, the Company is exposed to a number of financial risks, which are outlined below. Risk management is carried out by the Directors. Interest rate risk - the Company is exposed to the risk of interest rate fluctuations on cash reserves. However, with only limited cash reserves available, the Directors do not consider this area is a significant risk to the Company. Liquidity risk - the Company's existing cash resources may not be sufficient to cover the costs of a potential transaction or to cover any working capital requirements of a new group. Accordingly it may be necessary for further funds to be raised before a transaction occurs. Directors The membership of the Board and the interests of the directors and their families in the shares of the Company as at 31 December 2006 (or date appointed if later) and 31 December 2007 were as follows: Ordinary shares of 0.1p each 31 December 2007 31 December 2006 Richard Payne (appointed 16 August 2007) 150,000 - Stephen Black (appointed 16 August 2007) - - Russell Stevens (resigned 16 August 2007) - 84,500,000 Richard Payne and Stephen Black received no remuneration for their services to the Company during the year. Substantial shareholdings The only interests in excess of 3 per cent of the issued share capital of the Company, which have been notified to the Company as at 12 June 2008, were as follows. Ordinary shares of 0.1p each Number Percentage European Commercial Trust Limited 84,500,000 24.49% Pershing Nominees Limited 33,274,206 9.64% Raven Nominees Limited 26,005,889 7.54% Barclayshare Nominees Limited 18,475,655 5.36% TD Waterhouse Nominees (Europe) Limited 15,805,698 4.58% Hoodless Brennan plc 11,725,406 3.40% LR Nominees Limited 10,807,326 3.13% Payment to suppliers It is the Company's policy to agree appropriate terms and conditions for its transactions with suppliers by means ranging from standard terms and conditions to individually negotiated contracts and pay suppliers according to agreed terms and conditions, provided that the supplier meets those terms and conditions. The Company does not have a standard or code that deals specifically with the payment of suppliers. As the Company did not trade during the year, no disclosure of creditor days outstanding on trade purchases is possible. Statement of Director' responsibilities The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year. In accordance with company law, the Directors have elected to prepare the financial statements in accordance with International Financial Reporting Standards as adopted by the European Union. The financial statements are required to give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that year. In preparing these financial statements, the Directors are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company to enable them to ensure the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Company and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions. Disclosure of information to the auditors In the case of each person who was a director at the time this report was approved; * so far as that director was aware, there was no relevant audit information of which the Company's auditors were unaware; and * that director had taken all steps that he ought to have taken as a director to make himself aware of any relevant audit information and to establish that the auditors were aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s234ZA of the Companies Act 1985. Auditors A resolution to reappoint Charles Lovell & Co Limited as the Company's auditors will be put to the members at the Annual General Meeting. |
Posted at 19/9/2007 16:11 by knowing RNS Number:1247EMeriden Group PLC 19 September 2007 19 September 2007 Meriden Group Plc (the "Company" or "the Group") Interim results for the six months ended 30 June 2007 Financial Highlights * The Company losses totalled #54,673 for the six month period * No interim dividend is recommended * Loss per share of 0.02 pence (17 Month period ending 31 December 2006 : loss 0.46) Chairman's Statement I am pleased to present my Chairman's report for Meriden Group Plc for the six months ended 30 June 2007. During the period the Company made pre tax losses of #54,673 (17 Month period ending 31 December 2006: loss #1,577,358). The Company continues to search for suitable candidates for a reverse takeover. A number of approaches have been received and are being evaluated, which it is hoped will lead to a transaction. European Commercial Trust Limited, a substantial shareholder in the Company has made funds available to the business to continue the search for a suitable takeover target. As previously announced on 16 August 2007, Russell Stevens resigned as a director in order to pursue other business interests. |
Posted at 25/8/2007 07:54 by chancer6 Hi knowing, my BGT and MRD out of the final ranking list? Both had 50%+ gains. Well done. |
Posted at 22/8/2007 13:13 by andrbea over on HITmistyblue2 - 21 Aug'07 - 19:30 - 92 of 92 (premium) mrd mrd rto so we believe have a look chaps |
Posted at 22/8/2007 12:08 by chancer6 Knowing, MRD and I will keep the top spot. IMO more gains coming here before the week is out! |
Posted at 22/8/2007 10:37 by bozzy_s re. 1159 / 1160. As a pump and dump buster, I must say I don't see anything particularly suspicious here (keep an eye on chancer6 though!). It seems to be a genuine reaction to the positive news about management change.If you read my earlier posts on here, you'll see that I was not a fan of the old boss, having watched all his listed companies plummit in value over the last few years (MRD being no exception). But with a new team onboard, and everyone wanting to buy shares, things look a lot better in the short / medium term. I wonder if, with the really strong demand for shares, it would be worth the company doing a small placing at a bit of a premium, say 0.25p, to let new shareholders onboard, improve liquidity, and raise some cash to pay bills? |
Posted at 22/8/2007 07:39 by jubsiejay Its my day off, only just got up, making money while I sleep, can't be bad, keep it going MRD |
Posted at 21/8/2007 23:06 by knowing Just to brighten up the MRD morning check inMorning all |
Posted at 21/8/2007 14:13 by bozzy_s I'll not post any more of my ongoing disagreement with P.T on this thread. I'll leave others to decide on their character, and ADVFN's strange defense of them. MRD is a decent looking bet now and I'd rather not sour this thread. |
Posted at 21/8/2007 13:07 by andrbea on the 3-year chart, I see mrd once got to 2.397p in Spring 2005so bags of blue sky now IMO, now that we've shot past a historic price channel. |
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