Editor's Pick: Markets: The week that was (16-20/11/09)

(MHG.L) Merchant House Group PLC Buy/Sell

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Current Market Information

Time: 10:23

Bid	0.15
Ask	0.30
Price	0.225
Previous	0.225
Change	+0 (0.0000%)
Last Trade	0.225 (16:30:01)
Trading Vol.	1,644,000
Today's High	0.25
Today's Low	0.12

52 Wk Low	0.10
52 Wk Low	(20/02/2009)
52 Wk High	0.50
52 Wk High	(12/05/2009)
52 Wk Change	-0.17
52 Wk Change	(-43.75%)
4 Wk Volume	7,184,000
ISIN Number	GB0000577386
Currency	GBX

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Recent News
Date/Time	Headline	Source
29-09-09	Merchant House Group - Half Yearly Report	RNS
RNS Number : 8862Z Merchant House Group PLC 29 September 2009 29 September 2009 MERCHANT HOUSE GROUP PLC Interim results for the six months ended 30 June 2009 Chairman's statement I am pleased to report on the first six months of 2009 which has seen a significant increase in Group revenues over the period, more than doubling revenues achieved in the whole of 2008, and a modest reduction in the Group's loss over the period compared with the same period a year ago. During the period under review and as reported in June, our private client broking team was established and raised funds for a corporate recovery bond. Work on this continues and the Directors remain of the view that the current economic environment is well suited to a strategy of the bond investing in basically sound companies, usually with turnover in excess of £10m. They will also have a strong management, a history of positive cash flow or profits and significant assets but with short term cash flow or trading difficulties due to the current credit crunch. A large number of potential opportunities are under review and shareholders will be updated in due course. We have currently raised £891,000 for the corporate recovery bond and will shortly launch our capital protected bond. During the period under review, Merchant Capital, our wholly owned FSA regulated subsidiary, started corporate broking activities. The company has made some solid progress here and now has four companies to which it is AIM broker and a number of other companies to which it is mandated to provide advice and fundraising services. I am pleased to report that Merchant Capital advised on a successful fundraising shortly after the end of the period under review which resulted in a fundraising of £1.11m for the client. Other fundraisings for clients are under way. Throughout 2009, the company has been working to develop a fund administration business and a low risk joint venture foreign exchange trading capacity. I am pleased to report that teams have recently been recruited, business plans drawn up and implementation is virtually complete. Shareholders will be updated as these new business streams develop. Discussions are ongoing with a number of potential fund clients and the first one, a Spanish fund, has been signed up. I have reported for sometime now that the Group has been in a transitional phase as it repositioned and re-launched itself. Whilst the market and hence prospects remain uncertain and cash flow continues to be monitored and managed carefully, the Group is now moving to the next stage of its development and I look forward to updating shareholders further in the months ahead on the new business streams and the opportunities before us including possible acquisition opportunities using the paper of the company. As part of this process, we expect to be making key appointments in the near future and in the meantime, I would like to thank the team for continuing progress to date. Martin Eberhardt Chairman 29 September 2009 Enquiries: Merchant House Group Plc Martin Eberhardt Tel: 020 7332 2200 Shore Capital and Corporate Limited Pascal Keane Tel: 020 7408 4090 MERCHANT HOUSE GROUP PLC UNAUDITED CONSOLIDATED INCOME STATEMENT For the six month period ended 30 June 2009 `Note Six month period Six month period Year ended 31` `ended 30 June 2009 ended 30 June 2008 December 2008` `(Unaudited) (Unaudited) (Audited)` `£ £ £` `Revenue 95,493 7,000 41,668` `Purchase of shares for - - -` proprietary trading `Cost of sales (31,008) (2,492) (42,143)` `Gross Profit/(Loss) 64,485 4,508 (475)` `Administrative expenses (562,979) (322,168) (671,814)` `Loss on disposal of associate - (65,821) (137,822)` `Impairment of Associate (10,799) - (67,492)` `Impairment of intangible - - (88,496)` assets `Other operating income 16,969 10,621 27,770` `Realised gains/(losses) on - (11,287) (11,287)` current asset investments `Unrealised gains/(losses) on 2,210 (10,180) (41,040)` current asset investments `Loss from operations (490,114) (394,327) (990,656)` `Share of operating loss in - (129,114) (107,222)` associate `Finance expense 2 (6,435) (14,401) (27,170)` `Investment income 241 1,424 11,176` `Loss Before Taxation (496,308) (536,418) (1,113,872)` `Income tax expense 3 - - -` `Loss for the financial period (496,308) (536,418) (1,113,872)` `Loss per share (pence) 4 (0.46)p (0.67)p (1.28)p` `Diluted loss per share (pence) 4 (0.16)p (0.27)p (0.39)p` The Group has no recognised gains or losses other than the results for the period as set out above. MERCHANT HOUSE GROUP PLC UNAUDITED CONSOLIDATED BALANCE SHEET `Note As at 30 June 2009 As at 30 June 2008 As at 31 December` `(Unaudited) (Unaudited) 2008` `£ £ (Audited)` `£` ASSETS Non Current Assets `Property, plant and equipment 2,068 4,706 3,461` `Investment in associate - 27,613 -` undertaking `2,068 32,319 3,461` `Receivables falling due after - 50,000 -` one year Current Assets `Trade and other receivables 172,262 176,371 89,517` `Cash and cash equivalents 11,554 78,650 97,783` `Investments 12,310 40,960 10,100` `Total current assets 196,126 295,981 197,400` `TOTAL ASSETS 198,194 378,300 200,861` EQUITY AND LIABILITIES `Current Liabilities: 893,228 278,963 399,587` Trade and other payables `Bank overdraft - 32,603 -` `893,228 311,566 399,587` `Non current liabilities: 427,090 432,926 419,654` Convertible loans `1,320,318 744,492 819,241` Equity and Reserves `Called up share capital 539,350 407,233 539,350` `Convertible loan notes 40,910 35,074 48,346` `Share premium 1,005,924 826,047 1,005,924` `Retained Earnings (2,708,308) (1,634,546) (2,212,000)` `Total Equity (1,122,124) (366,192) (618,380)` `TOTAL LIABILITIES 198,194 378,300 200,861` MERCHANT HOUSE GROUP PLC UNAUDITED STATEMENT OF CHANGES IN EQUITY `for the six month period 30 June 2009` `Convertible Loan ShareCapital£ SharePremium£ Profit Total £` `Note £ andLoss£` `Balance at 1 January 48,346 539,350 1,005,924 (2,212,000) (618,380)` 2009 `Share issue - - - - -` `Movement in equity (7,436) - - - (7,436)` `Loss for the period - - - (496,308) (496,308)` `Balance at 30 June 40,910 539,350 1,005,924 (2,708,308) (1,112,124)` 2009 MERCHANT HOUSE GROUP PLC UNAUDITED CONSOLIDATED CASH FLOW STATEMENT `for the six month period 30 June 2009` `Six month period Six month period Year ended 31` `ended 30 June 2009 ended 30 June 2008 December 2008` `(Unaudited) (Unaudited) (Audited)` `£ £ £` Reconciliation of operating loss to net cash (outflow) from operating activities `Operating loss (490,114) (394,327) (990,656)` `Associated company losses - (139,666) (139,666)` written off `(Increase) / Decrease in trade (82,745) 15,590 152,442` & other receivables `Increase / (Decrease) in trade 493,903 (17,049) 92,514` & other payables `Depreciation 1,393 3,777 6,589` `Impairment of associate 10,799 - 49,505` `Impairment of intangible - - 88,496` assets `Realised loss - 11,287 11,287` `Unrealised (gain)/loss (2,210) 10,180 41,040` `Net cash outflow from (68,974) (510,208) (688,449)` operating activities Investing Investing Activities `Interest received 241 1,424 11,176` `Purchase of investments - (260,400) (260,400)` `Sales of investments - 234,598 234,598` `Purchase of plant & equipment - - (1,566)` `Investment in associate - 51 (51)` `Net cash (outflow)/ inflow 241 (24,327) 16,141` from investing activities MERCHANT HOUSE GROUP PLC UNAUDITED CONSOLIDATED CASH FLOW STATEMENT `for the six month period 30 June 2009` Financing activities `Proceeds from share issue - 460,158 683,656` `Increase/(decrease) in bank overdraft - 32,602 -` `Interest paid (6,435) (14,401) (27,170)` `Net cash inflow from financing (6,435) 478,359 656,486` activities `Decrease in cash & cash equivalents (75,168) (56,176) (48,104)` Reconciliation of net cash flow to movement in net debt `Decrease in cash in the period (75,168) (56,176) (48,104)` `Movement in year (75,168) (56,176) (48,104)` `Net debt brought forward (381,278) (333,174) (333,174)` `Net debt carried forward (456,446) (389,350) (381,278)` `Analysis of changes in net At 1 January 2009 Cashflows At 30 June 2009` `debt £ £` `£` `Cash at bank and in hand 87,017 (75,168) 11,799` `Cash held in stockbroker's (245) - (245)` client accounts `Cash and cash equivalents 86,722 (75,168) 11,554` Debt due after one year: `Secured loan notes (408,000) - (408,000)` `Unsecured loan notes (60,000) - (60,000)` `(381,278) (75,168) (456,446)` MERCHANT HOUSE GROUP PLC NOTES TO THE UNAUDITED FINANCIAL STATEMENTS For the six month period ended 30 June 2009 `1. Accounting policies` Basis of accounting The interim results have been prepared in accordance with International Accounting Standards 34 "Interim Financial Reporting". The annual financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs). The interim results have been prepared on the historical cost basis except that certain financial instruments are accounted for at fair values. The same principal accounting policies and methods of computation have been followed in the interim results as compared with the Group's 2008 Financial Statements. Going concern The financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business. The group incurred a loss of £496,308 for the period ended 30 June 2009. The financial statements have been prepared on a going concern basis because the directors believe it is appropriate to prepare the financial report on this basis based upon the company's business plan, its trading prospects and the financial support provided by Liberty Capital, an investor in the Company. The directors believe that the fund raisings referred to in the Chairman's statement will provide sufficient funds for the company to continue its operations for at least the next twelve months. `2. Loan Interest` Loan interest is payable on secured and unsecured convertible loan notes 2010, at a floating rate of 100 basis points above Barclays Bank Plc base rate. `3. Taxation` `No provision for corporation tax has been provided for, due to tax losses incurred in the current and previous periods.` `4. Loss per Share` `30 June 2009 30 June 2008 31 December` 2008 `Loss per ordinary share (0.46)p (0.67)p (1.28)p` (pence) `Diluted loss per ordinary (0.16)p (0.27)p (0.39)p` share (pence) The loss per share has been calculated on the net basis on the group deficit excluding associate for the period ended 30 June 2009, after taxation, of £(496,308) (June 2008: £(536,418), December 2008: (£1,113,872) using the weighted average number of ordinary shares in issue of 107,870,148 (June 2008: 80,033,413, December 2008: 86,870,886). Diluted earnings per share have been calculated using the weighted average number of ordinary shares in issue, diluted for the effect of share options, loan conversion rights and warrants. There were unexercised loan conversion rights and warrants on 200,066,667 shares in existence at the period end (June 2008: 115,275,871, December 2008: 200,066,667). `5. Related party transactions` During the period ended 30 June 2009, M Eberhardt was also a director of Hollywood Media Services Plc, and Merchant Corporate Recovery Plc. During the period ended 30 June 2009, J Holmes was also a director of Ricen B Plc (formerly Stokewell Ventures Plc), Hollywood Media Services Plc, Merchant Corporate Recovery Plc, Merchant House Finance Ltd and Microcap Equities Plc. At the period end current asset investments held by the company include the following at market value: `30 June 30 June 31 December` 2009 2008 2008 `£ £ £` `Microcap Equities Plc 7,310 21,250 5,100` During the period ended 30 June 2009 transactions took place as follows: `Sales (Gross) 30 Sales included in Sales (Gross) 30 Sales included in Sales (Gross) Sales included in` `June 2009£ debtors at 30 June June 2008£ debtors at 30 June December2008£ debtors at` `2009£ 2008£ December2008£` `Ricen B Plc - - - 61,746 - 61,746` `Catering 4 Events Group Plc 387 387 - - 387 387` `Hollywood Media Services Plc 20,022 12,653 - 1,175 5,569 5,569` `Merchant Corporate Recovery 11,500 1,500 - - - -` Plc `Merchant House Finance Ltd 3,605 - 3,605 3,605 17,988 -` Merchant House Finance Ltd and Merchant Corporate Recovery Plc are associate companies. During the period ended 30 June 2009, Merchant House Group Plc received £162,000 (June 2008: £27,900, December 2008: £55,800) in management fees from Merchant Capital Limited, a wholly owned subsidiary. At the period end the balance owed by Merchant Capital Ltd was £13,181 (at 30 June 2008 it owed Merchant Capital Ltd: £31,657, December 2008: £Nil). During the period ended 30 June 2009 and at 31 December 2008, J Holmes was also a Director of and owned 100% of the issued shares in Stokewell Limited, which is the holder of £150,000 secured convertible loan notes and also holds Warrants over the Company's Ordinary Shares. `6. Post Balance Sheet Event` At the Company's General Meeting held on 21 August 2008 all resolutions were passed in connection with the proposed reorganisation of its share capital contained in the circular sent to shareholders on 28 July 2009 which included, inter alia, the sub-division of the Company's ordinary share capital the effect of which was to sub-divide each ordinary share of 0.5p each into 1 new Ordinary Share of 0.01p each and 1 deferred share of 0.49p each. On 28 August 2009 the Company issued 30,000,000 new Ordinary 0.01p shares at a price of 0.25p per share, in respect of third party creditor settlements. This information is provided by RNS The company news service from the London Stock Exchange END IR PUURUBUPBGAB More
01-09-09	Merchant House Group - Holding(s) in Company	RNS
RNS Number : 2981Y Merchant House Group PLC 01 September 2009 1 September 2009 Merchant House Group Plc (the 'Company') Holding(s) in Company The Company has been informed that following the issue of shares announced on 28 August 2009, the following parties have notifiable interests in Merchant House Group Plc: Redmayne (Nominees) Limited 13,700,000 ordinary shares (equivalent to 9.94% of the issued share capital of the Company) Gilbert Eliott Holdings Plc 13,300,000 ordinary shares (equivalent to 9.65% of the issued share capital of the Company) Enquiries: Merchant House Group Plc James Holmes Tel: 020 7332 2200 Shore Capital and Corporate Limited Pascal Keane Tel: 020 7408 4090 This information is provided by RNS The company news service from the London Stock Exchange END HOLUASWRKURKRRR More
28-08-09	Merchant House Group - Issue of Equity	RNS
RNS Number : 2181Y Merchant House Group PLC 28 August 2009 Merchant House Group Plc (the "Company") 28 August 2009 Issue of Equity The Company announces that it has issued today, 30,000,000 new ordinary shares of 0.01p each ("Ordinary Shares") in connection with third party creditor settlements at an effective price of 0.25p per share. Application has been made today for the 30,000,000 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 4 September 2009. As a result of the issue of the new Ordinary Shares, the issued share capital now comprises 137,870,148 Ordinary Shares. There are no shares in treasury and there is no other class of share in issue which has voting rights. Consequently the Company's total number of voting rights is 137,870,148 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FSA's Disclosure and Transparency Rules. Ends. Enquiries: Merchant House Group Plc James Holmes Tel: 020 7332 2200 Shore Capital and Corporate Limited Pascal Keane Tel: 020 7408 4090 This information is provided by RNS The company news service from the London Stock Exchange END IOEXVLFLKVBLBBX More
21-08-09	Merchant House Group - Result of EGM	RNS
RNS Number : 8533X Merchant House Group PLC 21 August 2009 Merchant House Group Plc (the "Company") 21 August 2009 Result of General Meeting The Company announces that at a General Meeting of the Company held earlier today all of the resolutions set out in the notice of that meeting were duly passed. Ends. Enquiries: Merchant House Group Plc Martin Eberhardt Tel: 020 7332 2200 Shore Capital and Corporate Limited Pascal Keane Tel: 020 7408 4090 This information is provided by RNS The company news service from the London Stock Exchange END REGSEFFIFSUSESA More

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Date/Time	Subject	Author
13-10-09	Re: new business streams	Artic Circle


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	Chitsy, "I am pleased to report .......". That's a phrase that only comes from the management of a company!! More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down
30-09-09	new business streams	chitsy


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	Throughout 2009, the company has been working to develop a fund administration business and a low risk joint venture foreign exchange trading capacity. I am pleased to report that teams have recently been recruited, business plans drawn up and implementation is virtually complete. Shareholders will be updated as these new business streams develop. Discussions are ongoing with a number of potential fund clients and the first one, a Spanish fund, has been signed up. More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down
30-09-09	new RNS - lots of developements	chitsy


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	29 September 2009 MERCHANT HOUSE GROUP PLC Interim results for the six months ended 30 June 2009 Chairman's statement I am pleased to report on the first six months of 2009 which has seen a significant increase in Group revenues over the period, more than doubling revenues achieved in the whole of 2008, and a modest reduction in the Group's loss over the period compared with the same period a year ago. During the period under review and as reported in June, our private client broking team was established and raised funds for a corporate recovery bond. Work on this continues and the Directors remain of the view that the current economic environment is well suited to a strategy of the bond investing in basically sound companies, usually with turnover in excess of £10m. They will also have a strong management, a history of positive cash flow or profits and significant assets but with short term cash flow or trading difficulties due to the current credit crunch. A large number of potential opportunities are under review and shareholders will be updated in due course. We have currently raised £891,000 for the corporate recovery bond and will shortly launch our capital protected bond. During the period under review, Merchant Capital, our wholly owned FSA regulated subsidiary, started corporate broking activities. The company has made some solid progress here and now has four companies to which it is AIM broker and a number of other companies to which it is mandated to provide advice and fundraising services. I am pleased to report that Merchant Capital advised on a successful fundraising shortly after the end of the period under review which resulted in a fundraising of £1.11m for the client. Other fundraisings for clients are under way. Throughout 2009, the company has been working to develop a fund administration business and a low risk joint venture foreign exchange trading capacity. I am pleased to report that teams have recently been recruited, business plans drawn up and implementation is virtually complete. Shareholders will be updated as these new business streams develop. Discussions are ongoing with a number of potential fund clients and the first one, a Spanish fund, has been signed up. I have reported for sometime now that the Group has been in a transitional phase as it repositioned and re-launched itself. Whilst the market and hence prospects remain uncertain and cash flow continues to be monitored and managed carefully, the Group is now moving to the next stage of its development and I look forward to updating shareholders further in the months ahead on the new business streams and the opportunities before us including possible acquisition opportunities using the paper of the company. As part of this process, we expect to be making key appointments in the near future and in the meantime, I would like to thank the team for continuing progress to date. Martin Eberhardt Chairman 29 September 2009 Enquiries: Merchant House Group Plc Martin Eberhardt Tel: 020 7332 2200 More \| View thread (1) \| Respond \| Login to Vote up \| Login to Vote down
29-09-09	Re: things looking up!	Artic Circle	1


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	This is a bit like saying things are looking up for the Labour party. Rather than losing a bit more than £0.5m in six months as was the case in 2008, MHG has lost a bit less than £0.5m in the first half of 2009! How many times have we heard this optimism from the company? More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down

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