Mj Hudson Share Discussion Threads

[davidosh] 08/8/2023 16:05

Dr Biotech....I could not agree more. As an investor we have to take ups and downs but there was clearly an element of bad practice here as it completely fell off the rails and I always feel the lack of a final analysis or justice being served leaves investors even more short changed.

[dr biotech] 08/8/2023 14:28

I've written these off. I held them within an ISA and the alternative platform isn't compatible. I doubt they are worth anything.

[dodger777] 08/8/2023 13:42

Thanks for that info.
I contacted my broker and informed that for a fee I could receive a share certificate or alternately I could donate it to a share charity for free 🤔
Not sure what if any value there is to get a certificate 🤔

[davidosh] 05/8/2023 09:59

If it has delisted then it just becomes a company without a market on a recognised exchange but there may be a chance to trade the shares here

So It has not been liquidated but I do hope the collapse is fully investigated

[dr biotech] 11/4/2023 06:27

0p it is. Seems whole company was based of fraudulent accounts, let’s not forget the senior management thought they were worth a £10m bonus. Feel for the junior staff that will lose their jobs.

[18bt] 11/4/2023 06:18

Sky News spot on for once.

[sbb1x] 11/4/2023 06:18

Delisting 12th may

[dr biotech] 10/4/2023 16:07

40m not sure what debt is, was £20m perhaps another 10m found since then? 0-5p back to shareholders. Company would have been worthless other than for the rescue rights issue. Will wait for the FCA prosecution …

[agnes] 10/4/2023 11:45

Revealed: Apex Group has struck a deal to acquire two divisions of MJ Hudson, the stricken London-listed financial services company, for up to £40m. Its legal services arm will be wound down and the company will be delisted. An announcement will be made tomorrow.

[agnes] 10/4/2023 11:44

Mark Kleinman@MarkKleinmanSky

[chrisdgb] 20/3/2023 08:20

Broker updated my valuation to 0p this morning, so depressing......

[simon gordon] 17/3/2023 16:46

SKY News - 17/3/23:

Abu Dhabi-backed Apex in talks about bid for stricken MJ Hudson

Apex Group is in advanced talks about an agreed takeover of crisis-hit MJ Hudson Group with an announcement expected next week, Sky News learns.

[onjohn] 10/3/2023 11:27

Sale of biz to management

Stolen for a song

[simon gordon] 10/3/2023 11:13

The Lawyer - 6/3/23:

Trainees in distress as MJ Hudson terminates contracts

Asset management consultant MJ Hudson is terminating the training contracts of its 12 trainee solicitors, The Lawyer has learnt, amid concerns over its financial viability.

The Lawyer understands that the terminations, which will be effective as of the end of this month, include trainees at various stages of their contracts.

Company concerns have been brewing for months. In December, the group’s chief financial officer Peter Connell was suspended. In February, MJ Hudson’s auditor EY also resigned from its role due to its loss of “trust and confidence in the company’s management and those charged with governance, and in their ability, along with your finance team, to provide us with accurate and reliable information for audit.”

MJ Hudson’s CEO Matthew Hudson stepped down two days after EY’s announcement in mid-February.

The terminations of training contracts also come after the business decided to engage advisers Alvarez & Marsal to look at a potential sale of one or a number of its business lines.

The group was suspended from training on the Alternative Investment Market last December due to matters related to its year-end reporting.

MJ Hudson is a boutique funds firm known for specialising in private markets and alternative investments, founded by Matthew Hudson in 2010.

Hudson worked at SJ Berwin and fund management company Cabot Square Capital prior to founding the boutique. The firm was reported to have a revenue of £39.8m in 2021.

MJ Hudson was approached for comment.

[simon gordon] 10/3/2023 10:27

Sold for a million smackers:

"The profits before tax attributable to the assets being sold for the audited year to June 2021 was GBP600,000 and profits before tax for the unaudited year end June 2022 were GBP22,000. The value of the FMS Business on the Group's balance sheet is GBP1.07 million. Any monies received will be used to provide working capital to the Group and/or repay the Group's debts."

That's some collapse in profits.

Wonder if the bank are going to get all their money back. Got ESG, Marketing, Software, Dublin and Luxembourg.

[dr biotech] 25/2/2023 12:03

There should be something left over. The 10m recently raised should still be present somewhere, and some of the business is actually quite good. Problem is of course is what the true numbers are. 3-4p may be possible, but so is 0p.


It seems that connell and hudson were covering up various loans and debts etc in the accounts - and the auditors had the wool pulled over their eyes for too long. Hudson is clearly a wealthy individual, personally suing him via a shareholders action group may be the way to go. The question would be if he was incompetent or criminal or both.

From £8.4m adjusted Ebitda, with the thieving crooks defending their potential £10m payout to a firesale and everyone getting shafted. Wheres the FCA?

[a895] 25/2/2023 10:28

I cant see much for shareholders. Looks like private equity sale is more likely than a trade sale and will be heavily discounted. With the additional Santander overdraft and no doubt some other preferred creditors i would guess £25-30m would need to be raised before we saw a penny. This all needs to be wrapped quickly up before professional fees take any "surplus".

[dr biotech] 24/2/2023 22:56

hxxps://news.sky.com/story/apex-eyes-move-for-stricken-fund-services-group-mj-hudson-12818747

[18bt] 24/2/2023 10:22

Only if the Board can make some successful disposals

[chrisdgb] 24/2/2023 09:47

Will shareholders get anything.............?

[18bt] 23/2/2023 15:14

Unfortunately, the FCA should be opening an enquiry given this disclosure.

[dr biotech] 23/2/2023 15:10

So Hudson was charging the company a princely sum for guaranteeing a loan that was kept out of sight. No wonder EY called him untrustworthy.

[dr biotech] 16/2/2023 14:51

Managed to miss the news yesterday that Hudson had resigned. Pretty much everything that has been said on this BB has come to pass.

Seems that excessive greed via the LTIP has come home to roost, with huge reputational and financial damage to themselves and others unfortunately including myself as a shareholder.

Would have been nice to get some sort of apology for this fiasco, but humility is not something they have shown at any time.

[dr biotech] 13/2/2023 06:55

Auditors had to resign at some point as they signed off the 2021 accounts which are obviously dodgy. Not looking good.


That’s a pretty damaging statement. Dishonest and incompetent.

Edit: Having said that there is going to be a lot of blame gaming over this shambles with potentially serious commercial and possibly criminal consequences, so chucking other suspects under the bus at the earliest opportunity is a good strategy.

Firesale of current assets, pay off senior debt return anything left over to shareholders without relisting. Would love to see prosecutions for fraud, won't hold my breath.