Special Purpose Acquisition Companies (SPACs) seem to be the new buzz word in the UK markets at the moment, certainly amongst PIs on social media anyway, and it would also seem that a few AIM company directors are getting involved as well.
After years as a serial AIM dog about which we repeatedly warned, Mountfield Group (MOGP) is now a cash shell c/o a Peterhouse Corporate Finance Special. A recent placing at 0.1975p has allowed many of the spiv, sewer dwelling, clients of Peterhouse to flip their stock for a quick turn. For them and also the advisers who racked up costs of c£300,000 on the £3.1 million placing it is coke, hookers and in many cases warrants all round. Yum Yum. But this is perhaps not a total tale from the sewer.
Previously writing on commercial flooring and specialist construction group Mountfield (MOGP), I noted with the shares falling back below 0.50p last month that, despite it noting vaccination campaign brings hope for improvement, the balance sheet position together with structural uncertainties suggested to continue to avoid. Today developments including a conditional £3.1 million placing… at 0.1975p per share!…
Previously writing on commercial flooring and specialist construction group Mountfield (MOGP), I concluded on results for the first half of 2020 that currently just hopefully my prior warning was heeded and continue to avoid. The shares had recovered a bit since then but are currently more than 16% lower today, back below 0.50p, on the back of a trading statement...
Writing last month on commercial flooring and specialist construction group Mountfield (MOGP), with the shares at 0.60p I concluded, with it stating “the increasing extent to which companies will rely upon home-based workers has and will continue to reduce demand for city centre located office space and in turn, for the flooring of large new or refurbished office premises within the City or in neighbouring areas”, I’ll continue to monitor this but, certainly currently, still avoid. Now half-year results… and the shares at 0.40p...
Previously writing on commercial flooring and specialist construction group Mountfield (MOGP), in June with the shares at around 0.75p I questioned why no further update on the cash position and particularly noted a lower order book and lower margins, concluding to avoid. The shares had recently risen to 0.95p, but are currently down to 0.60p on a results announcement...
Commercial flooring and specialist construction group Mountfield (MOGP) has updated including that it “is encouraged by the re-opening of many of its clients' sites and the determination of many of its clients to restore activity levels to their pre-COVID-19 levels”. The shares have currently responded to around 0.75p – approaching 30% lower!...
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