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?

Its goodnight from me and .....

goodnight from him.

Board Changes and Update.

Looks like the next Jarvis imo.

Continues to fall sub 10p today.

Uncrossed at the days low - 10.75.

In auction @12.5

Mouchel chairman quits days after being named

(Reuters) - Crisis-hit British infrastructure and maintenance group Mouchel said on Sunday interim chairman David Sugden had resigned only three days after being appointed.

Mouchel, which said last week it expected to breach its loan agreements following a profit warning, did not give a reason for Sugden's departure, but said its lending banks were supportive of the board and its executive team.

Michael Lyons, senior independent director, would chair the board until a new chairman was found, it added.

"His (Sugden's) resignation follows further discussions with the board and other key parties about the best way to secure Mouchel's future," the company said.

"The lending banks have informed the board that they are fully supportive of the board and its executive team which believes that Mouchel has strong and valuable businesses which need to be supported by a stable, long-term financial structure," it added.

Chief executive Richard Cuthbert quit earlier this month after Mouchel said a statistical error and mounting risks to contracts would slash about 60 percent off this year's profits.

Former Serco chief operating officer Greg Rumbles was named as his replacement a week later, and on the same day chairman Bo Lerenius said he was stepping down. (Reporting by Mark Potter; Editing by Sophie Walker

Wouldn't be surprised to hear the board stating that there are no tanks at the gates of Baghdad ;-)

Amazing how many seemingly intelligent engineers were taken in by the BS dreamworld offered by the false smiles in grey suits from the shambolic, debt laden 'managed services' world. Buying out the opposition with debt and dismissing it's brains was never the smartest of business plans!

They are doomed.. doomed.

http://youtu.be/w7RIgs3eygo

Confirmation :-


RNS Number : 2596Q

Mouchel Group plc

17 October 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITURE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Board Change

The Board of Mouchel Group plc ("Mouchel" or "the Company") announces that David Sugden who was appointed interim Chairman of Mouchel last week has resigned from the Board over the weekend. His resignation follows further discussions with the Board and other key parties about the best way to secure the group's future.

The lending banks have informed the Board that they are fully supportive of the Board and its Executive team which believes that Mouchel has strong and valuable businesses which need to be supported by a stable, long-term financial structure.

Sir Michael Lyons, Senior Independent Director, is leading the search for a new external Chairman and will Chair the Board while a new Chairman is sought.

Executive directors Grant Rumbles and Rod Harris remain focused on the steps necessary to secure the future of the company and they enjoy the full support and confidence of the Board and its lenders.

Good riddance

Top riser in the board.

Anyone who has been involved with contractors will know well that " writing up claims and extras" is endemic, sometimes an overzealous manager will over egg the unaudited accounts, I guess thats what happened here, such a panic over a relatively tiny amount, but one good thing is its clearing the rubbish out of the senior mangement who turned down the last huge takeover bid.

Long term hold.

Doomed I tell ye.

sometimes an overzealous manager will over egg the unaudited accounts ...

You mean lie?

As for 'tiny amount' ..... why worry over a few m ? !!!! Just pretend it doesn't matter and hope no-one notices ...... oops, someone did .....

From my first hand dealing with them, that just about sums up their attitude ....

So it begins.

RNS Number : 4229Q

Mouchel Group plc

19 October 2011

Mouchel Group plc

("Mouchel" or "the Company")

Sale of Rail business

("Mouchel Rail")

Mouchel, the infrastructure and business services group, announces that it has agreed to sell the business and assets of Mouchel Rail, the UK-based provider of multi-disciplinary design, consultancy and project management services to the rail industry, to Sinclair Knight Merz ("SKM").

SKM will pay GBP3.4 million in cash to Mouchel at completion, and Mouchel will retain net realisable assets (principally debtors and work-in-progress) of a further GBP2.5 million. SKM will assist Mouchel in the collection of Mouchel Rail's trade debtors and work-in-progress, and will receive a 5 per cent. administration fee on all work-in-progress collected. Mouchel has also committed to fund certain work in respect of future project commitments under one contract up to a maximum of GBP750,000, and Mouchel expects that this will be recoverable upon completion of that contract.

The transaction is expected to complete on 31 October 2011 and is subject to certain conditions being satisfied relating to key employees and clients.

Proceeds from the sale will be used to repay a portion of the Company's debt.

For the year ended 31 July 2010, Mouchel Rail reported a post-exceptional profit before tax of GBP0.8 million on net revenue of GBP13.6 million. At 31 January 2011, gross assets, subject to the disposal, were negligible.

Mouchel Rail is led and managed by Simon Collins, the Rail Business Unit Director, who will remain with Mouchel Rail under SKM's ownership.

Commenting on the disposal, Grant Rumbles, Chief Executive Officer of Mouchel, said:

"The sale of Mouchel Rail is a key step in our strategy to focus on Mouchel's leading positions in core markets. We wish the rail business and its employees every success for the future."

Mouchel Energy flogged off to Mott- no mention of price, probably payed them to take it,

Sale of Pipeline Design Business


Mouchel Group plc
("Mouchel" or "the Company")

Sale of Pipeline Design Business

Mouchel, the infrastructure and business services group, announces that it has completed the disposal of its pipeline design business, the UK-based provider of design and project services to the gas engineering and wider energy markets, to Mott MacDonald Limited ("Mott MacDonald").

Mott MacDonald, the privately held management, engineering and development consultancy based in Croydon, UK, paid initial consideration of approximately 2.55 million in cash for the share capital of Mouchel Energy Limited, a new company set up for the purpose of the disposal. The transaction is also subject to post-completion adjustments (relating to certain net asset and work-in-progress items), but for which additional cash consideration payable to Mouchel under such adjustments is capped in aggregate at approximately 0.85 million.

The proceeds from the sale will be used to repay a portion of the Company's debt.
For the year ended 31 July 2010, the pipeline design business reported a post-exceptional profit before tax of 0.09 million on net revenue of 4.7 million. At 31 January 2011, gross assets subject to the disposal were 2.3 million.
The pipeline design business is led and managed by Colin Brewster, who will remain with it under Mott MacDonald's ownership.

Commenting on the disposal, Grant Rumbles, Chief Executive of Mouchel, said:
"Following the recent agreement to sell Mouchel Rail, the sale of Mouchel's pipeline design business is another key step in our strategy to focus on Mouchel's leading positions in core markets. We wish the business and its employees every success for the future."