Share Name Share Symbol Market Type Share ISIN Share Description
Millbrook Scientific Insts LSE:MBK London Ordinary Share GB0031612616 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.375p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 2.9 -1.0 -1.3 - 0.28

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Date Time Title Posts
02/3/201109:23Millbrook Science....A New beginning306
20/10/200906:03A NEW BEGINING61
13/7/200712:18Millbrook a small company but could have a big future.192
15/12/200415:16Nano tech mega bag-

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Millbrook Scientific (MBK) Top Chat Posts

randsys: seanmiller, for me its definitely not a 'speculative puchase based on upcoming results'. I've done very considerable research into this company over the past 6 months. Speculation in the current ecomonic climate amounts to financial suicide if you get it wrong. I certainly don't take 'suicide bets' on stocks like this. Based on the research I have done I have reasons to believe the future for MBK is certainly not reflected in the current share price and subsequently expect a very substantial re-rating in due course. Whilst you may not share my views, I would say let the forthcoming results speak for themselves and we can discuss again then. All IMHO of course, DYOR etc.
rich2006: i Know this company has something to do with nanoscience but i did not think that the share price was one of the areas they were using this technology on.
egoi: I'm interested in buying a few but happy to wait for my target price for a punt; I don't think there's any prospect of a bid with the current financial situation - you gotta remember only months ago they were nearly sunk. The Barclays is merely someone transferring their holding into a different account, imho, as there has been no significant volume for weeks. If there was a bid, it would only come when the company has put its own house in order, and that doesn't happen overnight. Also as you imply Tara, there are probably some distressed holders still in the wings, so any share price rise is likely to be one step forwards, two back, for a while. If my target price doesn't come about, I will put my money into something a little less risky, no sweat. I've followed MBK since its inception on Ofex. Wasn't sorry to see Stefanini step aside. If 'potential' orders won medals, Stefanini would have had a sackful long ago.
sand frog: Millbrook Scientific Interim Results RNS Number:2089K Millbrook Scientific InstrumentsPLC 19 December 2007 Millbrook Scientific Instruments plc ("Millbrook" or the "Company") Interim Results Millbrook Scientific Instruments plc (AIM:MBK), the designer and manufacturer of innovative scientific instruments that measure nanoscale properties of thin films and coatings, announces its Interim Results for the six months ended 30 September 2007. Overview Six months Six months Year ended ended ended 30 September 30 September 31 March 2007 2006 2007 (unaudited) (unaudited) (audited) £ £ £ Revenue 1,052,516 623,006 1,891,482 EBITDA (redefined) (149,830) (428,135)) (518,271)) Operating loss (196,962) (398,141) (470,667) Basic Loss per share (in pence) (0.235p) (0.746p) (0.901p) * Revenue of £1,052,516 (2006: £623,006): *significant improvement over last year due to partial fulfilment of previous year's order backlog; *backlog of MiniSIMS ToF instruments now cleared although not all had shipped in the first half * EBITDA loss of £(149,830) (2006: loss of £(428,135)) - again an improvement due to increased sales and some reduction in overhead; *Note: change of method of computation of EBITDA - on previous basis, figure would have been loss of £(38,096) (2006: loss of £(272,201)) * First release of the software upgrade for MiniSIMS ToF well in hand; * Continued strong performance of sales of NanoTest instrument through the year - further steady growth expected, currently limited by available space; * Successful private placement completed 13 September 2007, raising £400,000 of further equity before costs and enabling elimination of Group's Net Debt; net cash balance at 14 December 2007 - £114k; * Total Group sales for FY2008 plus outstanding orders £2.6m at 13 December 2007 *Order book for NanoTest remains strong; *Order book for MiniSIMS is rebuilding after pause in new orders caused by production and cash flow difficulties; * Other priorities for the remainder of the Financial Year: *Complete move to new NanoTest facility at Wrexham; *Commence roll-out of software upgrade for MiniSIMS ToF; *Complete improvements to production processes at Blackburn to ensure production and quality targets are reliably met. Chairman's Statement Revenue for the six month period ending 30 September 2007 was £1,052,516 (2006: £623,006). The increase in revenue compared to 2006 was mainly due to the easing of production difficulties at Blackburn enabling fulfilment of a large part of the backlog in orders for the MiniSIMS instrument which are referred to in detail below and were highlighted in the trading updates released by the Company on 19 April and 25 June 2007. The Operating loss for the period was £(196,962) (2006: £(398,141)). This improvement was almost entirely due to the improvement in sales referred to above; as previously announced, steps have been taken to reduce overheads but the benefit of these will not be fully realised until the second half. As announced on 31 July 2007, the Company hit cash flow difficulties caused by the on-going production problems at Blackburn but exacerbated by the unforeseen damage to an instrument in transit to a customer. A shareholder update was issued on 22 August 2007 and an EGM was held on 24 August 2007. Thanks to the support of a small group of shareholders led by YFM Private Equity ("YFM"), managers of The Northwest Business Investment Scheme, our largest shareholder, and three of the directors, the full amount of £400,000 was raised enabling the immediate crisis to be weathered and the elimination of the Group's Net Debt. The fundraising was completed on 13 September 2007. The update issued on 22 August 2007also stated that further Resolutions authorising the Directors to allot shares and to disapply pre-emption rights only within certain specified limits would be proposed at a second EGM. I confirm that this remains our intention. During the period under review, sales and orders of the NanoTest instrument have progressed most satisfactorily. Continued steady growth is expected but the constraints of space at the existing facility in Wrexham have been severe. A move to nearby premises was agreed in September but legal issues held up progress until recently. It is now expected that the move will be complete before the end of the Financial Year. Our thanks are due to our employees at Wrexham who have worked tirelessly in increasingly difficult conditions. The Board has commenced a fundamental business review which is expected to be complete by the year end. However, certain conclusions were obvious and required immediate attention. Production space at Wrexham has already been mentioned. Improvements to production and quality processes at Blackburn were equally as important to ensure as far as possible that instruments could be produced in a predictable timescale and that they passed quality tests first time. Staff changes have taken place to enable this to happen but results will not be instantaneous. Furthermore, the MiniSIMS ToF had been sold and shipped with an existing software release on condition that a new release, which had been specified, would be retro-supplied. Completion of this work in-house was a priority and is now well in hand. Supplying this software as well as completion of the MiniSIMS alpha version is now a priority. Clearly the non-availability of the new software and then the public announcement of the production difficulties and associated cash-flow problems hampered the efforts of the MiniSIMS sales team. Nevertheless new orders have been achieved such that total group sales for FY 2008 to date plus outstanding orders at 13 December 2007 are £2.6m. The Board has previously disclosed a figure for EBITDA which was struck before amortisation of certain costs but after capitalisation of similar expenditure. It is considered that a more appropriate measure, closer to the cash generation by the business, can be struck by adding back net movement on that expenditure thus taking into account expenditure on Research and Development whether or not capitalised. For the period to 30 September 2007 EBITDA on the new basis was a loss of £150k (half year 2006 - loss of £428k). My thanks are due to all the employees at Blackburn. Change is always difficult to embrace under any circumstances but they have done so willingly despite the difficult financial position in which Millbrook found itself until recently. This financial period has also seen significant changes at Board level. I paid tribute to my predecessor as Chairman, Peter Stefanini, at the AGM. He stepped down from his Executive role on 19 April 2007. Simon Cleaver of YFM stepped down as non-executive director on 31 July 2007. Thanks are also due to him as well as YFM whose support has been unstinting and most valuable. The other executive directors have had to shoulder the burden, none more so than Paul Grasske, the Group CEO as well as acting FD, and they have all risen to the challenge. These changes at Board level as well as other changes within the Group will result in cost savings mainly in the second half. However the administration and finance side of the business is running too lean at present. Steps will be taken to address this as soon as the Board is confident that trading conditions permit. Committees The Audit and Remuneration Committees met once each in the period under review under the Chairmanship of Malcolm Fortnam. My grateful thanks are due to Malcolm for carrying out this role as well as for his sterling contribution to the Board in general. The Remuneration Committee had the important task of refreshing the Group Option scheme. I referred to this in my Letter dated 31 July 2007 and the refreshment will be effective by the end of January 2008. Existing option holders who are still employed will have the exercise price per share reduced to 3.125p, significantly closer to the existing share price. Certain employees will receive additional options; in particular Paul Grasske's options will be increased to 1,500,000 shares. The total number of shares under option after this grant will represent 8.25% of the total issued share capital. The Audit Committee also met to consider the implementation of IFRS. The committee was briefed by the Auditors and individual members of the Committee have attended numerous workshops and briefing sessions by other organisations. These accounts are the first to incorporate adoption of IFRS. The Committee also undertook a detailed review of existing accounting policies. This led to clarification and formalisation of certain policies including revenue recognition but no changes other than those mandated by IFRS and which are detailed below. Our thanks are due to Edwards Veeder LLP, our auditors, for their help during this transitionary period. Other Advisers A difficult year puts pressure first on directors and employees but second on professional advisers. Seymour Pierce, our Nomad, have provided first-rate advice and support. George Davies LLP, who were our legal advisers for a number of years, stepped down after the AGM with the Board's thanks for their efforts. Thereafter our new legal advisers, Halliwells LLP, provided excellent support and advice through and beyond the September fund-raising.
nickderby: Is anyone expecting a decent set of results for a change? At the AGM the company stated; 'booked orders for the year currently stand at just over #1.7 million (FY07: #1 million), including #750,000 despatched, this is 89% of last year's turnover at the 4 month stage. In addition there are high probability prospects of over #520,000 (FY07: #500,000).' With a current market cap of just £160,000, it wouldn't take much to get the share price moving.
romin: Good news that the current uncertainty has been resolved. YFM seems to have taken out the bank, and not pushed an excessively hard deal with the company re: the placing. 'Cash flow better than forecast' is a rather unspecific.... has the insurance payment been received or are costs lower than expected? The news has pushed the share price up by c0.5p - which was what I had expected. But, I still think MBK is fully priced until it can demonstrate that it can do business profitably without more unfortunate incidents.
romin: Further to my last comment, the share price has come off another 30%, which is a bit more like it.... However in advance on the financing being completed and bank overdraft renewed, these are very risky... At this point, I don't see the potential of a bounce on the completion of the refinancing (0.5p at most, in my view) justifies the risk of a write off if it doesn't happen....
romin: It's interesting that the 40% rise and retreat in MBK's share price occurred after the incident of the damaged equipment.... so someone paid more than they needed to as a result of MBK not announcing the incident earlier.... Given that has taken MBK to the brink of insolvency, you would have thought it would have deserved a RNS at the time.... Personally, I am surprised that the share has held up so well on the announcement of the news.... it requires both the bank and YFM to come good....
kritic: I don't follow the point of the "new dawn" discussion. The accounts paint a bad picture particularly the overdraft and debt level. These must make cash flow a serious problem BUT they belong to the PS era and do not predict the future. It's unwise for PT to talk up the share price or suggest he is an insider and I will ignore him from now on. We're all in it for the money but this looks like a far too obvious ploy. The last months have seen more like 8 million shares traded the bulk of which was dealer to dealer - does anyone know what that means ?? BF is right ! getting rid of an executive chairman is good for any company and in tune with best PLC practice - it removes "control" dangers. I'm going to wait for the AGM before deciding if they're OK and not take another plunge only to find they're broke.
rich2006: Yeah sounds good going forward. But then again MBK have previously over promised and under delivered. maybe this year will be different. I am also concerned about the cash position of the company and feel the lack of cash is holding the company back see quote "The nanotechnology sector continues to grow and spawn many new businesses some with enormous growth potential. The buy and build policy designed to transform Millbrook into a broader nanotechnology group has had to be put on the back burner as a result of the cash constraints I referred to above. Nevertheless, when cash considerations permit, Millbrook will be in a position to resume its quest for acquisitions that complement and reinforce our existing portfolio, providing an enhanced product range for our customers and enhanced value for our shareholders" On the one hand i am impressed that the company does not seem keen to come back to the market for further funds at the drop of a hat. But that could be because the share price is so weak. On the other hand it could make existing investors wary that a further placing might not be that far away. As always DYOR
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