Looks like theres an offer coming through

Already have a MIL thread.

KD.

About time board made statement ?!

High time Montpelier start talks

Easter says Millfield refinancing on track
By Sam Shaw - 08-Jun-2006
Chief executive 'humbled' by support as he aims for more transparent business

Millfield chief executive Alan Easter says the refinancing of the group is on track.

Easter says that because the Aim-quoted company is in a closed period he is unable to give details and he adds that he felt "quite humbled" by the show of support by advisers during the firm's recent conference in Dubai. Easter says he has huge respect for the firm's advisers.

He says there are too many firms in the industry where the power of the chief executive is absolute and he is striving for transparent and honest communication between him and management, with greater input into the running of the firm.

Easter and interim finance director Diane Gray-Smith recently held a meeting with regional sales directors, where they talked over the possible strategies for the company.

A representative of the regional sales director team says it had never before been privy to the issues that face Millfield.

But Easter says sales directors must understand the issues facing the business if they are to be able to make decisions.

He says: "Information has not gone far enough down previously. In many small busin-esses, the chief executive is omnipotent. If you do not trust your management, there is something wrong with the business. Either the chief executive should not be there or the management should not be there. How can they make decisions unless they understand the problems?"

Dated 17th June 2006..
Daily Mail, London, business briefs column

"UPTICK IN SHARE PRICE: Troubled financial adviser Millfield registered a rare up-tick in its share price on speculation one of its biggest investors, Montpelier Asset Management, could bail it out. The firm has built a 14.8pc stake in Millfield, which is grappling with capital adequacy concerns. The stock rose 0.62p to 2 3/4p."

Were we mislead ? refinancing on track? Where are major shareholders?

Was this company trading whilst insolvent?

THe administrators will no doubt look closely at actions of Chairman and directors over recent months - should company have pulled rug sooner - how sound is the current deal - is it commercial and for whose benefit?

Where are we now chairman?