2637 days ago
On April 8 2015 AIM listed Management Resources Solutions (MRS) saw its shares suspended pending clarification after a much vaunted funding package from an outfit called Halcyon Capital Management Pty Ltd fell through. Halcyon and its boss Anton Mentz simply did not come up with the moolah. So who was to blame for this disaster?
3306 days ago
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
