Member Info for smudgedan

Yes, I agree we need to get to the bottom of the companies intentions going forward and what assets they actually own and the value of these assets are calculated. I have never come across a company so adverse to promotion. It’s almost as if they don’t want shareholders to buy in and yet the directors own a decent percentage themselves so it is their interests that the share price rises.

Yes, I do plan to meet them.

Their model as i understand it is that, where possible, the PLC (or possibly now the newly incorporated Marechale Investments which is wholly owned by the PLC) take part payment in equity in the project they are providing funding for. Aside from the solar project the company have never been clear about what else they have equity in. All we have is the amounts mentioned in Investments for sale which may or may not represent the value of their share per the last funding round. My guess is that the new Investment company will be used to house all of the investments going forward and possibly beef up this side of the business. However, in the absence of any commentary from the company other than to pour cold water on any optimism we are left, as ever, in the dark.

Yes, very odd. If we do have equity in Burgh Island then the obvious question what else do we have equity in that hasn't been disclosed?

We have requested a copy of the share register for Burgh Island Holdings Limited to determine MAC's involvement.

Yes, plan to attend the AGM myself.

They will probably try to find some way of dampening things. Look at the results, in previous years they have mentioned about seeking equity as part payment of their fees and yet this year nothing is mentioned despite them concluding their highest profile deal in recent history and securing equity in it!

Bloody knew that they had taken a stake in the Island as it fits entirely with their business model of taking equity or warrants in the projects that they arranged finance for.

Hopefully it wont come to that!

Cheers Cam. Yes, we are on to it. Findings will certainly be of interest.

This was incorporated on 14th June, wholly owned by the PLC. Suggests that they have something to put in it, otherwise why bother? https://beta.companieshouse.gov.uk/company/11415658

This is what we fully intend to get to the bottom of.

Indeed. I fully intend to get to the bottom of this. Have added today and will be notifying the company of my holding shortly. Currently an mc of £800k and I’m happy to add further and take this further in order to gain clarity if need be.

But why set up a separate company for their investments on 14th June if there is nothing to put in it?

The results actually represent a significant positive swing for the second half in terms of both revenue and profitability. They seem to have deliberately underplayed the Burgh Island deal. Their business model is to secure equity in the projects they assist in providing finance for so perhaps they view this as business as usual, but why set up a new company “Marechale Capital Investments” in June?. Simple question. how muchof Burth Island is owned by Marechale?

It certainly is a funny old company. Up there is silent stakes with MBO, but at least they the excuse of being in Malaysia!

Yes, another performance like that would be just the ticket. Hope life is treating you well

Was thinking exactly the same thing Cam. That was mid August too. 12 bags bottom to top.

Yes, the pr is non existent. Hopefully a good rise will force their hand

Business plan for MAC was always to, if possible, secure equity in the projects they advised on. It didn’t pay off with Northfield Solar following the change in governement subsidies for renewables, however the deal for Burgh Island is very interesting. MAC appear to have a share in the JV that made the purchase. The question is how much?