After taking over Parkman, and taking Parkman Chief Executive Richard Cuthbert, Mouchel's share price has dropped, fuelled mainly by the reported costs of the merger. Preliminary results for the year to July will be published in October. for

However the merger costs are 'one-off's' and the new organisation is stronger (and claims it will make further acquistions). Is it ready for take-off in the run-up to the publication of accounts?

Schroders from 13% to 12%

yep well done skinny nice one

Cheers chaps - I hope its doesn't do a RWD on me and open 60 points up tomorrow!

Déjà vu - back in auction!

And again +17.2%

i thought it was too high to get in this morning lol - got that wrong!!

never mind must be those rumours of costain about to make another t/o bid doing the rounds - amazing that not long ago mchl rejected a 150+ bid from costain!!! more likely to be a rights issue than a t/o perhaps???

but well done skinny looks to be onwards and upwards for you :-0

MARKET REPORT: Punters move in on outsourcing group MouchelBy Geoff Foster

Last updated at 12:05 AM on 18th January 2012

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Penny share punters were among the throng of buyers getting stuck into bombed out Mouchel. Shares of the outsourcing group, which crashed more than 90 per cent last year, touched 9p before closing 3.35p or 65 per cent better at 8.5p on a combination of recovery and takeover hopes.

In a support services sector which had seen Connaught, Rok and Southern Cross go bust, Mouchel almost became a basket case after plummeting in October following a shock profits warning. The company revealed a black hole or ‘actuarial error’ would wipe out £4.3m of expected profits. It forced chief executive Richard Cuthbert to step down.

Major shareholders, including Andy Brough’s Schroders (15.8 per cent), were livid because earlier in the year the board had rejected a 152p cash and shares offer from construction group Costain, 1.5p cheaper at 200.25p, saying it ‘significantly undervalued’ the business. What a joke!

In November newly-appointed chief executive Grant Rumbles had to announce pre-tax losses of £64.8m in the year to end July 2011 and also warned that expectations for 2012 had been significantly reduced. Nevertheless, it was still able to agree a £180m debt deal with banks that prevented it from breaking covenants.

Rumours yesterday did the rounds that Costain could return with an ‘attractive’ offer for the company which is now valued at a basement price of £9.5m. One fund manager didn’t buy the bid story and said sarcastically that the jump was just an attempt to massage the price higher ahead of a much-needed rights issue.



Read more: http://www.thisismoney.co.uk/money/markets/article-2087920/MARKET-REPORT-Punters-outsourcing-group-Mouchel.html#ixzz1jqiNIlsP

indeed - lets hope mchl have no more ‘actuarial errors’ :-((

Humhhh!!

Henderson Global Investors > 5%

much needed rights issue ! lol .... I'm daft, but not that daft ...

Result of AGM.

Schroders reduce 12 - 11%

Looking good houston!

Starting to build some momentum +15%

..and now +20%..glad I jumped in yesterday!

In auction with 4% of shares traded today.

Closed at the high of the day 14.5 +31.8%

In auction +10.3%

skinny
thanks for your reply