There is very little hope here. Nobody seems to have a hand on the controls in other words nobody cares. Were they to sell of the subsiduaries there would be little left and then the need to wind up the company or hope it can be used as a shell. Too much internal bickering and no focus means that there is little hope of anything more than 5p a share.
I wonder when there'll be news on the disposal of their two operating businesses. It's been some time since they announced that they wanted to sell them and both of them appear to be performing quite strongly at the moment so there may still be some upside to the price if they are sold.
It appears to me that MBL is tidying up its Balance Sheet and getting ready for a sale. Its possible this is being done at the request of a potential RTO candidate and perhaps the 14% shareholder is involved. Assets worth twice the sp
A bit of interest this morning and I think the Cowgill purchase could prove significant. Its quite a large stake, other large shareholders may be getting restless and the ex Chairman could win them over to enable the business to go forward. There is a mish mash of non profit making businesses in the group which could be sold to management, there is substantial cash and overall assets are about 4 times the SP. Cowgill will have an agenda for his near 15% stake so I think we can expect corporate activity in the coming months. Little liquidity in the shares so any positive news could provoke a useful gain.
Coincidence maybe but MBL,s old contract Morrisons seem to clearing a load of entertainment stock
Could be that they found the grass was not as green as they thought and could be courting MBL to run it again so they can concentrate on turning that ship around
Would explain the sudden share price rise,s with out info
No evidence just a hunch DYOR
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I thing the price would not move any direction much.
So there be two option. MBL find out a new way of business or administration.
"Embattled wholesaler MBL Group has confirmed that it asked creditors to agree to an eight-week payment deferral from March 31 as it sought to reorganise its financial structure in the wake of Morrisons decision to end their 14-year relationship."
The period for the application is 10 days.
Within this time nothing major shall happened.
So those who are uncertain shall or will sell, and in my opinion within next ten days we shall see only fall down.
This is investors action.
We do not know the corporate action, but in my opinion they will deal own way with this problem.
The Panel on Takeovers and Mergers the "Panel" is an independent body, established in 1968, whose main functions are to issue and administer the City Code on Takeovers and Mergers the "Code" and to supervise and regulate takeovers and other matters to which the Code applies. Its central objective is to ensure fair treatment for all shareholders in takeover bids.
The Panel has been designated as the supervisory authority to carry out certain regulatory functions in relation to takeovers under the EC Directive on Takeover Bids 200425EC the Directive. Its statutory functions are set out in and under Chapter 1 of Part 28 of the Companies Act 2006.
MBL Group is looking for a buyer after its major customer, supermarket chain Morrisons, formally confirmed that it will terminate two supply agreements with the home entertainment products distributor on 14 September 2011. The company had been hoping to replace some of the lost business with Morrisons by securing the third party logistics tender but it has been informed it has lost out in this contest. Morrisons had been MBL’s major customer, and in the year to 31 March 2010 orders from the supermarket chain accounted for around 78% of MBL’s turnover. The company is planning to cut down the size of its operations which will result in a number of redundancies. The company is commencing discussions with Morrisons and the new service provider regarding those employees who will be in eligible for transfer under Transfer of Undertakings (Protection of Employment) Regulations at the end of the agreements. Talks are also in progress about the piles of entertainment products MBL has bought in expectation of providing them to Morrisons. Steven Phillip Walsh-Hill, who has been finance director since the end of January, has lasted less than two months in the job and will be leaving with immediate effect by mutual agreement after the two parties failed to come to an agreement on the terms of his appointment.
The Board is also announcing that KPMG Corporate Finance is to be appointed to seek a suitable purchaser for the Group. As such this may or may not result in an offer for the entire issued share capital of MBL, though there can be no certainty that any offer will be forthcoming. The Board will update shareholders in respect of this process as soon as it is appropriate to do so.
Accordingly, under the rules of the Takeover Code, MBL is now in an offer period. MBL confirms, pursuant to Rule 2.10 of the Takeover Code, that its issued share capital as at 15 March 2011 comprised 17,296,080 ordinary shares of 75 pence each. The shares are traded on AIM under ISIN GB00B0W48T45.
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