Minorplanet Systems Share Discussion Threads

[andre] 02/9/2009 21:07

Credit to MPS. They took the Spanish for suckers here.

170,000 Euro is chicken feed compared to the possible liability and the share warrant will be all but worthless unless they suddenly find diamonds in the rough.

I still think that they will bleed out before the banks lend them enough to stave of creditors but it's a result nonetheless.

IMHO

[martin44] 01/9/2009 23:22

Money raised excellent news and to follow: Finally, the Company is pleased to announce that it has reached a settlement
with Asbury Park S.A. ("Asbury"). Minorplanet has agreed pay to Asbury the sum
of EUR170,000 secured by a debenture and payable in the following instalments:


* EUR70,000 on 14 September 2009;
* EUR50,000 on 14 September 2010; and
* EUR50,000 on 14 March 2011.



In addition, the Company has granted Asbury a transferable warrant to subscribe
for up to 450,000 New Ordinary Shares of 20 pence each in the capital of
Minorplanet at an exercise price of 30p per share, exercisable by not later than
14 September 2012.


The Board believes that the settlement is in the best interests of the Company
in that it eliminates a significant uncertainty relating to future costs and
potential liability attributable to this long standing dispute in respect of its
former Spanish subsidiary.

A very positive end to the Spanish issue and now uncertainty out of the way should see a nice move upwards......

[telematicsman] 30/8/2009 00:13

Andre >>>> Yes quite an apt description Just call me "Indiana Jones" This isnt Tomb Raiding but informed judgement having been in the industry for many years and seeing where the company has came from and how it lost its direction.....maybe if there was a position for "Indiana Jones" he could maybe save the day......but guess what if they dont make a move soon the will be DOOMED! Who wants to hold the poisoned chalise?

[andre] 29/8/2009 15:10

Litigation notice

It would appear that MPS may not get the chance to appeal the Spanish courts decision to pay up after all and the Spanish may enforce it with the English Court to get the money. MPS may now have to spend over £1M just to settle this judgement. And that doesn't necessarily mean an end to it.

So whatever they might get from this fund-raising could go into a Spanish lawyers and companies pockets.

If you were thinking about taking part in the share allocation then you should carefully read all of the announcement IMHO.

This ship could be finally sinking. Again IMHO.

[andre] 29/8/2009 14:53

Yikes Telematicsman,

where did you drag this thread up from? Have you been tomb raiding?

[telematicsman] 27/8/2009 22:10

Lets get the shares moving in a positive manner - I suggest they employ a new sales director and get some direction back into the business, sorry Terry your choices so far have been to flawed! My advise is keep it simple get back to basics! Why dont you guys check out people in the industry that understand whats happening out in the feild. The sales model must change and must change now. who agrees ?

[telematicsman] 27/8/2009 21:45

I suggest they employ a new sales director and get some direction back into the business, sorry Terry your choices so far have been to flawed! My advise is keep it simple get back to basics! Why dont you guys check out people in the industry that understand whats happening out in the feild. The sales model must change and must change now. who agrees ?

[andre] 20/8/2009 08:23

With a name like Quartix2, I doubt I would be more informed as you are a direct competitor. You seem to know a lot about what deals they are offering.

I understand Quartix think that PAYG is the way forward. MPS think the corporate world is the way. Sounds like diverging paths to me so you should come across them less anyway as they move away from the SME market...whether they bleed out or not.

Either way, £8M in sales in the interims obviously doesn't include those that they couldn't close due to finance - which doesn't suggest not being able to sell which was my point.

All IMHO.

[quartix2] 20/8/2009 07:13

Andre

You are obviously better placed than me to comment.

The deals being won, are all won on price with some crazy twist added to entice the customer and not a value sale.

Everyone suffers from the Finance issues but why would MP struggle to get deals passed any more than everyone else?

Like I say you may know more than me.

Just my opinion.

[andre] 19/8/2009 22:24

Did you notice that they posted over £8M in sales in the interims? Not exactly losing the ability to sell after all the cut-backs. They are bleeding out more from the overseas losses and lack of lease finance for SME's as far as I can see. Not lack of ability to sell.

They were refused loads of lease deals once they had won the agreements. The sale was done apart from the finance - and they don't have the money to self-finance either. So they concentrate on the corporate market and hope to land enough or bleed out trying. If I had to guess then I think they will struggle to raise this cash and bleed out before they hit break-even again. But that is just my humble opinion.

[quartix2] 19/8/2009 17:15

Hi Davidosh

Just set up the following [e-mail]

Not sure about TMF sorry.

Regards
Q

[davidosh] 19/8/2009 13:22

Quartix2....Can you give me your email address or email me via TMF ?

[quartix2] 19/8/2009 10:01

Davidosh that appears to be the case, however to succeed in that space you must have the right financial credential and unfortunately that is not the case with Minorplanet.

My suggestion would be that they either hired the correct calibre of Sales director (one that understands the industry) or allow themsleves to be aquired by a company who know what is required.

I am in competition with them, however it does seem a shame when the solution appears so obvious for them not to fix it.

They could be one of the top 3-5 players again provided someone takes some positive action.

We could then also look at the overhead and why they would require the staffing level they have as well as the offices outside of Leeds.

Anyway off my soap box otherwise I might talk myself into the job.

Good luck to all.

[davidosh] 19/8/2009 09:44

Quartix2....I think you have hit the nail on the head there. The company seemed to have a problem hiring a decent sales director and the sales team generally have lost their way. They now appear to be focussing on the bigger corporate contracts.

[quartix2] 19/8/2009 07:36

I am not sure but you can bet it is a decent salary.

There does appear to have been some major changes within the business with some of the bigger salaried employess moving on and so this will have an effect, however what has been obvious to many for so long is that Minorplanet have lost the ability to sell.

Under Mr. Morris they were a selling machine but have now lost their way. I am not saying that the old way was better as that us what got them into this mess as they lost focus on service, however they now appear to have the service side of things resolved (Hat's off to the current team for that) but now need to learn how to sell again.

Minorplanet is still a good brand and if someone who knew what was required, was to take them over/invest I would put my own money back in.

Just my opinion but I think it is quite obvious.

Thanks and good luck.

[andre] 18/8/2009 23:31

How much are they paid by the company? I can only consider if this is a reasonable amount after knowing what they are/have taken out already. Average of £100K each at that price? Against salaries of....

Just asking the question.

[davidosh] 18/8/2009 01:02

A £1.15m Placing of 3,836,091 New Ordinary Shares at 30p per share

An Open Offer of approximately £2.1m of New Ordinary Shares open to all existing Shareholders pro rata to their existing shareholdings at a subscription price of 30p per New Ordinary Share


So the directors are investing over £320k of their own money which is not a minimal amount.

[andre] 17/8/2009 21:17

Doesn't it say in the prospectus and associated paperwork? Anyone know what price they are issuing the shares at?

[davidosh] 17/8/2009 21:12

1,084,597 New Ordinary it says so presumably at the higher price after consolidation.

[andre] 17/8/2009 17:30

Would that be 1M shares at 3p or 75p or another price Davidosh?

[davidosh] 15/8/2009 15:00

How many shares are the directors taking in the placing ?

Apologies duplicated posting but not a bad question to ask twice !

How are the company reducing costs as asked previously and will the directors be reducing their own salaries by say 30% whilst the company recovers ?

[davidosh] 15/8/2009 15:00

How many shares are the directors taking in the placing ?


I have just found the answer in the prospectus and they are certainly committing some serious money ....

In addition, Mr T.J. Donovan, Mr P.W. Bennett and Mrs C. Hurley have agreed to subscribe for in aggregate 1,084,597 New Ordinary Shares under the Placing and conditional upon Admission.

[andre] 15/8/2009 12:43

sdavis

Good Point. I don't see the directors supporting the company either.They must be desperate for someone to take them over and put them out of their misery.

[sdavis] 07/8/2009 08:07

This seems to be a waste of time to me. So little working capital, massive dilution and every chance of going bust. Where is the free money to do research and product development?

Directors keen to keep their jobs and salary. No mention opf them halving their salaries or salary sacrifice for shares.

Avoid like swine flu.