Marchpole is one of those stocks which have had a really bad time. Boardroom battles, losses, price collapse, profit warnings up the ying yang.

Now all of those things seem to be sorted out, new management are getting to grips, new contracts and the price is on the up. So much so that Monday ought to see a 50/200 day MA golden cross.

DYOR of course, but I think I will be putting a few of these away at the open.

Socco

Hi Grevis. Yep still holding them, so as you could imagine, this has not been the best of days for me! Still, take the good with the bad and all that! Are you still holding PCI? Learned to switch off and not watch PCI too closely, just waiting for drill results.

gavdfc: I sold out of PCI after the confusion over their rig. Got 17p at that time and am happy with my decision. First wells tend to be exploratory and usually run into trouble. I was always taught not to be too greedy so I'm happy with my profit.

Well done on your profit Grevis. I too was taught not to be greedy, but some lessons arn't always learned properly! Still, I have tight stops in place so will see what the results throw up. Also bought a good holding in Soco in anticipation of next years Vietnam drilling.

Apologies to all for going a bit o/t.

I think someone has helped to nail the problem. It would seem that Boateng may be devoting his time to Givenchy and ignoring his responsibilities to MPH.

Just posted on ADVFN:

Remember Boateng is designing for Givenchy now, part of LVMH.

It could be his activities under contract to them which are causing annoyance / discomfort to Marchpole.

I remain long bullish but am wary that the real problem may not be Boateng ego, but the Givenchy head of design deal. In the circs Marchpole can still only sue Boateng.

gavdfc: I wish you luck with PCI. I'm still watching events with interest.

Just hope that this Boateng stuff will be sorted out soon. Didn't know he was designing for Givenchy now. Will be keeping a very close eye on thsi situation.

Cheers for wishing me luck on PCI. Will be interesting either way once the RNS comes out. Fun days ahead there! If you want something else to watch, take a look at SIA. Big drill program in Vietnam early next year.

gavdfc: Thanks, I've added them to my watchlist.

From another BB:

Boateng has just designed the pret-a-porter (ready to wear) menswear collection for Givenchy, part of LVMH.

Funnily enough this sounds very similar to what he should be doing for Marchpole, via the diffusion brand Boateng in UK and Ireland.

His haute-couture stuff is a different matter but I would suggest Mr Boateng is operating potentially conflicting contracts with LVMH / Marchpole. He has delivered for LVMH (see www.givenchy.com), possibly not for MPH.

It is possible LVMH could get tied up in things but really its primarily for Boateng to sort out his contractual positions.

Quite possible MPH could do design in-house, but that would mean a cut in Mr Boateng's take.

Able to sell 250k with Comdirect at 27.31 and buy 75k at 27.41.

Seems to indicate the MMs are expecting a rebound and are happy to pick up stock.

London Evening Standard Business Article (Front page of section)

MARCHPOLE LEGAL ACTION OVER BOATENG BREACH

By Nick Goodway

Designer label fashion group Marchpole is to take legal action against one of its hottest properties, Ozwald Boateng.

It alleges Boateng and his company Bespoke Couture have breached their contract over his diffusion range produced by Marchpole subsidiary Artpower. This is based on the "old school tie" look and is sold across a wide range of stores.

Marchpole chief executive Greg Tufnell said the dispute went back to autumn 2003 when Marchpole launched his first diffusion collection.

He said: "Ozwald had an agreement to supply Debenhams with the O-Z range which our contract called for him to end by September 2003. We were quite insistent because we did not want O-Z clothes appearing on the shelves as we were trying to launch a new range a notch higher. But there was still alot of O-Z stuff in Debenhams at the start of this year and that clearly had an effect on our launch. We are not necessarily seeking damages but we want to enforce the terms of our contract."

A spokesman for Marchpole said the company was "sending a warning shot across Boateng's bows". It added: " The company continues enthusiastically to produce and sell the Boateng diffusion range."

Marchpole said the legal proceedings should have no material effect on the stock market's current forecasts for its profits, but the shares were marked down 4.25p to 27.25p.

(ends)

Anybody see the buys after hours? 2650000 shares bought.... thats around 728750 pounds worth! Should be interesting tom am me thinks.

dawsinho: I'd be very surprised if we don't recover today's lost ground. Someone was certainly buying big at the close.

Grevis2

Can't help but feel the little guys been dumped on today! The legal proceedings seem like a storm in a tea cup, if the RNS was more detailed i think plenty of holders would of kept hold of thier shares. Instead plenty sold giving the big boys a perfect buying opp. WIll be up bright and early tom thats for sure, expect lots of early activity..

dawsinho: I agree with all you have said. That RNS was too brief and caused many to flee the nest. I shall also endeavour to log in bright and early tomorrow. Good luck!

Lombard
Martin Wolf
Lucy Kellaway
Amity Shlaes

Today's FT:-

Marchpole starts action against Ozwald Boateng
By Philip Stafford
Published: December 1 2004 02:00 | Last updated: December 1 2004 02:00

Shares in Marchpole, the designer clothing store group, fell 11 per cent after it began legal proceedings against Ozwald Boateng, the designer, for an alleged breach of contract.


The company said it had begun proceedings against Mr Boateng's Bespoke Couture company in relation to a licensed diffusion range produced by Artpower Limited, a Marchpole subsidiary, in 2003. Previously, Bespoke Couture had sold another lower priced diffusion range to Debenhams, the high street department store.

As part of the initial agreement between the two parties in October 2002, Marchpole said the lower priced collection was required to be removed by September 2003, when its first Boeteng collection was launched. But Marchpole said they were not removed until early 2004.

"We have ultimately run out of patience," said Greg Tufnell, chief executive. "We were given certain assurances that weren't met." Mr Tufnell said Marchpole still hoped to reach an agreement with Bespoke rather than go through the courts.

Marchpole did not believe the issue would have a material effect on market expectations for the company.

It also hoped the disagreement would not affect its relationship with the designer. It has worked with Mr Boateng since October 2002 and the licence is set to run until 2009. Marchpole has continued to produce and promote the Boateng brand, spending heavily on advertisements in fashion magazines such as FHM and developing Mr Boateng's autumn 2005 collection.

The Boateng contract is small but significant and a fast-expanding part of Marchpole's business.

Shore Capital, house broker, estimated that Boateng sales for the current financial year would exceed 1.5m but group sales would be about 28.5m.

Bespoke had no comment to make on the issue.

Marchpole shares lost 3p to 27p yesterday, valuing the group at 39m. Philip Stafford

Grevis2,

Did you make it out of bed then..... lol! just ticked up after plenty of buying. Expect an rns regarding those late buys last night before the week is out.

dawsinho: LOL! Yep, pulled my brain together in time to see these open in cheerful mood this AM.

What a fuss about nothing. The person responsible for yesterday's badly worded RNS needs shooting. Cost us all 4p per share and maybe more as these were making steady progress back toward their high. Now we need to recover lost ground just to move forward again. Still it's given some a chance to buy more on the cheap. Just feel sorry for those who dropped their holdings yesterday. No doubt some bought back in this morning once the real cause was out in the open. Good luck!

Trouble is grevis, that RNS has tainted this company for me.
This news must have been known for a time within the company, no wonder the price has drifted since those results, sellers in the know imo.

The RNS was dreadful. The management are now in question as far as I am concerned, still holding but not as enthusiastically as before.

capa

capa: Point taken, but on reflection their attempt to bring Boateng into line is perhaps a sign of the company's growing confidence now they have much stronger brands on board. My faith in MPH is not dented at all. Just wish they had been more careful with the wording of that RNS.