Minorplanet Systems Share Discussion Threads

[snowman10] 26/2/2010 09:30

Looks like the end to me AGAIN.

If aussie is not sold and 1 million banked by end April its all over.

Avoid or sell is my view

snow

[goldenmember] 26/2/2010 08:27

Read note 2...this looks like trouble ahead!!!

[the diddymen] 26/2/2010 07:51

This will be a penny share today on the back of that humiliating unaudited statement.

[tom306] 26/2/2010 07:24

2009 accounts still not approved and looking as if the auditors are going to qualify them as a going concern. Ouch!

[davidosh] 25/2/2010 22:15

Technically I think suspension would be on Monday morning after the 7am RNS window up to 8am has closed. Leaving it close to the wire though.

[goldenmember] 25/2/2010 22:11

Suspension close of play tomorrow unless results announced! The website said they would be announced yesterday but this deadline was missed! Interesting to see what has been happening!

[503831rct] 19/2/2010 10:00

Institutions hold quite a piece of MPS stock compared to EIT, maybe they will divert the FSA's attention to any wrong doing....I sincerely hope so because EIT was a disgrace.

[andre] 18/2/2010 10:54

Company goes bump, TD has first dibs on the assets (those worth anything) and walks away with the best bits having written off the debts? Is that the theory?

Not sure the institutions would allow him to do that. Then again, what do I know?

EIT directors managed to sell the listed and shareholder owned assets to their privately owned holding company (effectively writing off the debts and other shareholders rights) without anyone else even being aware (outside of the liquidators) that they were liquidating the public one until it was done - so it wouldn't be unheard of on AIM and especially in this sector now would it.

Doesn't look like the FSA are very bothered to me.

All IMHO of course.

[davidosh] 15/2/2010 12:45

Being cynical if TD had £300k available for funding why did he not put it all in with the rest of us in the placing four months ago ? He now has preferential status and the rest of us are secondary players.

[goldenmember] 15/2/2010 12:39

Unless I am misreading the situation, it would appear that TD has effectively got the assets of the business for £300k. If this is the case then it seems like a cheap deal to me!

[roofer2] 13/2/2010 13:27

Its a takeover in disguise IMO, secured loan
Results didn't come out, looks like there saying end of month

[sanity] 11/2/2010 23:12

Things must be bad. A secured loan by a chief executive. Ouch! Last roll of the dice.

[davidosh] 11/2/2010 17:30

Well nobody can claim TD is not a fighter and he certainly stands to lose as much as most here....


Minorplanet is pleased to announce that it has secured a loan from its Chief Executive, Mr Terry Donovan, who, for the purposes of this transaction, is regarded as a related party of the Company under the AIM Rules.



The loan is for the sum of £300,000 and is repayable over 24 months, commencing on 4 June 2010. It bears an interest rate of 8% over Barclays Bank Plc's base rate and is secured by a debenture over the assets of the Company and certain of its subsidiaries. The loan was made to assist the general working capital requirements of the Company [including the payment of certain creditor arrears].



The securing of this loan from Mr Terry Donovan is a Related Party Transaction for the purpose of AIM Rule 13. The Directors consider, having consulted with Shore Capital and Corporate Limited, the Company's Nominated Adviser, that the terms of the related party transaction are fair and reasonable insofar as the Company's shareholders are concerned.



This is the first of a series of proposed actions designed to return the Group to financial stability and profitability. More details on these actions and an update on the Company's trading and financial position will be provided as part of the 2009 Preliminary Announcement which is expected in late February 2010.

[roofer2] 10/2/2010 17:39

Looks like results are out tomorrow, no rns to say so though

[davidosh] 04/2/2010 15:40

If they were breaking any rules the Nomads would be on the case and the shares would be suspended. They have another 25 days to get those accounts finalised.

[503831rct] 04/2/2010 15:27

It is now February "davidosh" so, by your calculations, are they now breaking any rules? More importantly are they breaking any LSE Rules? The end is nigh m'thinks.

[davidosh] 15/1/2010 11:51

There are no rules broken and they have until the end of the month of February to present the accounts by my calculations. Where does it officially state that they will be released on 21st January btw ?

[andre] 15/1/2010 10:23

My guess - Insolvency.

[buenos aires] 13/1/2010 17:16

This co is SOLD ,in my opinion.
Just waiting for the announcement . I hold no shares in MPS ,but would gamble,and I mean gamble £1k ,buying MPS shares . you could lose all of it ,or make a reasonable return ,in the space of days.
The stock market is a very dodgy place where getting a monkey to chose your stock pickings might be a better bet,than chosing yourself ,or listening to other people ,including me .

I have a theoretical £1000 on MPS ,lets see what happens.

[the diddymen] 12/1/2010 13:00

Prelims due on 21/01. That seems to break Aim rules - I thought that it was 3 months. Year end 31/08/09 which would have made it 30/11. That would explain why accounts out 4 days later. Presumably they are struggling with the audit report and it has the hallmark that they will be working upto the line.

In my very humble opinion, it looks as though there will be some insolvency process here.

TD

[andre] 07/1/2010 23:52

Crikey Pedr01, looks like Masternaut ate itself! ;o)

Was it a bailout if they were making £2M profit? Of just a realignment of some kind? They were already a private company.

[andre] 06/1/2010 16:44

Hi Zig,

where did you hear the latter (Masternaut). I knew they were struggling but nothing about a bailout. Any links/articles on this?

Davidosh, the placing was massively undersubscribed and raised just £1.45M which wouldn't last long in this climate. Perhaps the deathly silence is... well...deathly.

[zigbee] 05/1/2010 17:52

MPS are terminal; masternaut have been bailed out by the franchise owner to avoid the flack from their failure....are there any pieces worth picking up out of these two?

[davidosh] 05/1/2010 16:16

Andre....Well there must be quite a few still interested as they did a placing only a few months ago. It is not quite down and out yet...