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fully agree, smacks of a backyard deal to steal the workshop along with its modified up to date equipment for a steal firesale price. Along with lucrative contracts.
Drone was a scam to force it into the dirt, predictable the shareholders would revolt, easy to try and blame them... easy excuse for deliberate dirty tricks ploy.
Yep this company had a lot going for it except for one thing, the greed of the bod and friends to get free shares, and I will keep saying it the alerion deal was the catalyst for everything that has happened since.
If, which seems likely but you never know, mrs does go into liquidation then all the assets will be sold to pay off the creditors.
If that happens then I don't see how the company could operate.
So all the shareholders will lose their money and what is even worse hundreds of people might lose their jobs but hopefully some other company will take on their contracts and keep some employed.
I've resigned myself to losing my stake but will be keeping a close eye on what happens in the future because I don't quite believe that the people responsible for this will lose theirs, something
not adding up here, maybe along game has been played to get this outcome.
A hard lesson indeed Mr T and one thing to take away from it is never to invest in a company that has the slightest hint of any involvement with Zorbas and co.
Totally and utterly shafted. A case study on this completely bent market. I have lost all faith in the authorities and learned my lesson the hard way. I will never touch AIM again.
If you take a punt on a hole in the ground somewhere that's one thing, but to invest in a company that on paper is profitable, declares positive cashflow and is growing in a steady way that ends here and in this manner it's a total outrage that it can happen without consequence for the BoD.
the end is near it seems
8 November 2019
Management Resource Solutions plc
The board of Management Resource Solutions plc ("MRS" or the "Company") provides the following update.
The administrators have issued a second report to the creditors of the five MRS subsidiaries listed in the announcement of 6 September 2019. The report contains background and financial information, and the costs and the status of the process. It also sets out various resolutions that are to be put to the creditors, at the forthcoming creditors meeting on 15th November. These include a vote "to decide the future of the Companies and determine whether a) The administration of the Companies should end; or b) The Companies should execute a Deed of Company Arrangement ("DOCA"); or c) The Companies should be placed into liquidation". The Administrators go on to state that "It is our recommendation that the Companies should be placed into liquidation, however, it may be necessary to adjourn the second meeting of the Companies' creditors for no longer than 45 business days to enable a sale of the Companies' business to be concluded".
The Directors of MRS will be lodging a revised proposal in the coming days with the anticipation, if successful, that the transaction will settle by mid December. At this stage, however, there can be no certainty of the outcome which depends on a number of factors including the result of the creditors meeting.
A further update will be provided as soon as appropriate.
Talking bad about yourself
I thought you are him
Keep dreaming, like when you thought that you were going to win all the EGMs
a very different LEAGUE ..he is not worried ,the police is frequently into his restaurants...
very different ligue ,for what we know he may be in prison ,or the way in...
Leo, listen mate, you can't compare/compete yourself to/with Jackofthenorth. He's on a different league.
Anto ,we are definitely dealing with a bunch os Scam... Hence they never wanted decent peoples at the helm....
Definitely zodiac sign LEO
The absent of JackofThenorth says it all
A bird told me ,that nothing stupid would be done here lets wait and see..
Looking forward to see what is bid for the drone company was worth 1.2M ....any friendly bets gentlemen.???
Hopefully we will see certain well heeled people putting up their own and bidding a million plus for it....yea right ..a flying pig.
That will be the conclusive proof of fraud.
Absolutely disgusting that the greed of a few individuals has robbed honest shareholders of their hard earned cash.
Another hard earned lesson learned never invest in a company that these crooks are remotely connected to.
There will be a lot of angry shreholders here that will be keeping a close eye on proceedings and don't think they will be brushed aside so easily.
Skulduggery is best way to describe what is happening here.
No coincidence that the NED steps down the day before Zorbas previously announced departure, then 2 days later business in administration.
Very little confidence that the BoD are genuine in their comms around trying to save this. Wouldn’t be surprised if one of these offers to buy off the administrators is from Zorbas.
company could have been a real success 9 months ago. Ruined by greedy persons listed below, just trying to get as much out of the company and line their own pockets using every dirty trick in the book.
My gut feel is they might not have finished yet either, carefully watching current proceedings, clearly the drone purchase was a deliberate way to drive it into the dirt faster, as one could easily anticipate the infuriated investor reaction.
Ultimately somebody has to own these shares , fact of the markets.
Large chunks of these with URU, Zorbas, Groves, Hogan etc according to reported info. Like to think that’s the case and they are feeing the pain but somehow doubt it and sense that if anything does come through to keep this alive then it’ll be as dodgy as fook.
Why were people still invested in this POS ???
This has been a very expensive lesson to all investors. The warning signs were there, but we all thought we could see a good business in there. It seems, however, the BOD had different ideas and either couldn't do the job properly or didn't want to.
The board need to get moving now. I don't think anyone can defend them after today's RNS. They've had all year to resolve this.
They promised news last week, obviously that didn't happen, so rather than say nothing
probably thought they better say something .
"Continuing to make progress in discussions to restructure debt", but no timeline given this time
so we will just have to wait and hope it gets sorted.
A complete waste of time.