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RogueRiver ain't that the truth ! I'm surprised the share price has fallen, although I don't think the likely price for Nortek was at that much of a premium to expectations previously outlined. Agree, I'd certainly have expected the SP to be a few points up rather than down.

I suspect the outlined price for Nortec was as expected, hence little move in the share price. I agree that the share price will rise above the cash distribution - it'll just take time. I'd expect a special one-off dividend to shareholders once the Nortec transaction is completed.

Is there any indication anywhere whether share price is part of the new CEO's bonus target ? And if so what the share price target is ?

I suspect this is the end. It doesn't look like MPM can pay the VAT bill if it arises. The time it takes to sort out the VAT issue could leave the company burning through its remaining cash before the takeover / fundraising can take place. Can't see the business coming back from this. Still struggling with this VAT issue - this looks like sheer ineptitude. And how come it seems MPM is the one that has got stung by the VAT where, I assume, it hasn't charged it and its supplying partners now have ?

Thanks for the update InvestingGenius. I think Mporium has made some good moves in (re)structuring the business to provide a platform through which growth can become profit. I'm just uncertain of their ability to monetise the technology to generate that growth, so fingers crossed the deals come to fruition and profitable revenue flows in. If they can do this, and don't need to tap their selected shareholders anymore, then it's not difficult to see the business sharply increasing its current balance sheet value of £650k - and its £4 million mkt cap doing likewise.

Key question in my mind is where will revenue come from ? The re-structuring has sharply reduced the headcount, and the board's letter with regard to the placing / fundraising / meeting indicates an ongoing operational expense of £ 3 million annually. Much reduced, office move, all good stuff. But without revenue and margin growth the business still won't turn a profit and will still burn cash. ClickLabs t/o is estimated at £2.8 million in the year just finished, not sure what their margin is. 25% ? Can that apply to the whole business ? So to breakeven you'd need £12 million of revenue for £3 million Gross Margin ? That's what I'm struggling to believe, whatever the quality of the software.

I guess if you don't think the company is going to survive - and that is clearly a possibility given the substance and tone of yesterday's announcement - then 0.45p now is obviously preferable to zilch at a later date.

Completely agree on the spectacular inaccuracy of many oil price predictions. I suspect that OPEC will want to hold oil at something between $60 to $70 per barrel, maybe ideally $60 to $65. That level probably just about works for the oil based economies without making oil so attractive it starts to suck in investment for another glut of production, most obviously in US shale.

I suspect the upcoming update will be a positive one, and I suspect at least a part of that is already in the price. The update would need to be spectacular to drive the share price significantly higher, but like robdouglas77 I don't see why 235/240 is unachievable. One key thing, maybe the key thing, is to what degree increasing production x stable oil price will reduce debt in future. The financial intensive care is surely now complete, sorted by the rights issue and the debt refinancing. If the likelihood is that debt will fall more quickly than expected / priced-in, and Tullow becomes a more "normal" oil business more quickly, then that may drive a re-rating.

Carrington, agree with your thinking that there is a better platform for improvement in place at M & S. One of the things Archie Norman has said in the past about "turnarounds" is that there has to be something in place to turn around - or that "the heart is still beating" to, I think, quote him. After the career he's had I do not think he is going take the risk of a high profile failure blotting his copybook. He must be confident that some things are moving forward at M &S, that the heart is indeed still beating, and that he can add further value.

Guess a reflection of the strengthening pound yesterday. Given the predominance of dollar earnings / valuation Melrose's share price will always be susceptible to short term currency based movements.

Will be interesting to see what happens later today and over the next few days after the analyst presentation at 11am. Likely to be some two way trade as some investors take some profits, but suspect that overall the momentum in the business will continue to drive the share price higher. Certainly not selling out yet !

Anyone aware of when the pre close statement will be made ? According to Topps website the "estimated" date is tomorrow.....?

Share just seems totally friendless currently.

Not sure of the impact, but it certainly has the feel of one of the regulatory concerns that has been flagged up by the board / in the report & accounts. I think it also confirms the sense in trying to expand the reach of the business into related areas such as the recent legal acquisition rather than be dependent upon a more narrow stream of business that is probably vulnerable to this sort of regulation.

I think the September results will be key - and I think the underlying performance of the enlarged business will determine where the share price goes. Can the acquisitions enhance the earnings of the formerly core business which is and probably will continue to be in turnover (but maybe not margin) decline ? This is why the board raised the cash to buy other businesses in my view, to counter the likely decline in the original core business - both from regulatory pressures, and their focus (I think) on profitable business rather than turnover. Any autofocus settlement may end up being a bit of a sideshow / special dividend - with every £10 million of settlement equating to an increase in net asset value (or dividend) of 0.37 pence per share with the current 2.7 billion shares in issue.. I think the board have sensibly downplayed expectations, and will probably continue their recent track record of underpromise / overdeliver. My hope - a special dividend later this year to reflect a successful Autofocus outcome, and then results showing an increase in earnings / EPS laying the foundation for a rise in the share price. Fingers crossed !

I think Helphire has moved out of intensive care into a relatively stable position, and expect the share price to reflect this. I can't really see a repeat of the sort of sharp gains we have enjoyed over the past 12 to 18 months and expect future share price moves to be driven by business fundamentals. Fortunately many of these seem to be in decent shape - a core business that looks solid, what looks like an earnings enhancing acquisition still to fully work through into the results, plenty of cash in the bank to fund further acquisitions, the prospect of a boost from an Autofocus settlement, and a commitment to dividend. There are also risks, including the impact of possible further regulation, but on balance I see a share price target of 8p (or 80p post consolidation) as realistic and plan to stick around for a while longer.

Happy to see news of the share consolidation, and 10 for 1 sounds about right. I would guess this will help make the share / dividend / yield more attractive to some institutions.

It was in the "briefing" section of the databank page. I'd describe it as mildly favourable, but was really a factual review of the fall and recovery, reporting of the company's own commentary, and little offered in the way of opinion. Indicated that Helphire "is expected to report underlying pre-tax profits of £7.5 million for the current financial year, up from £4.3 million". By my rough calculation that suggests EPS of about 0.5p per share pre £60 million fund raising.

Agree on the share consolidation KNIGELK - maybe 5 to 1 or 10 to 1 creating a share price that might be considered more attractive / less risky to larger investors ?