All Stories

Oooh er Mrs…Management Resource shares suspended – who is the mysterious Halycon?

Tom Winnifrith
Thursday 9 April 2015

Shares in AIM Casino listed Management Resource Solutions (MRS) were suspended yesterday as it admitted that monies it needed to complete an RTO had not arrived, a statement which begs the question as to who is its supposed lender Halcyon Capital Management Pty Ltd. Oooooo Errrr Missus.

I have picked Management up on its corporate governance failings before (HERE) but this episode may well prove the ultimate humiliation for what has been a dog of an IPO. Management announced on 5th March that it was to but an Aussie Company (D&M) for cA$7 million.

That looked a bit toppy in itself given that D&M recorded a post-tax profit of just A$145,000 ( down from A$587,000) in its last financial year. An historic PE of 47, yum yum

on ShareProphets | Comments
About Tom Winnifrith
Bio
Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
Twitter
@TomWinnifrith
Email
[email protected]
Recently Featured on ShareProphets
Sign up for my weekly newsletter








Required Reading

Recent Comments


I also read