Taxi Driver Online

Hermes asset fund management bought into Manganese Bronze in February this year. Obviously they thought it was a wise move but they are going to have to cut their losses and run or wait and see what happens with the China syndrome.
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Manganese Bronze Hldgs PLC

Manganese Bronze Holdings PLC

11 February 2008

Interest in Shares

Manganese Bronze Holdings PLC (the 'Company') advises that it today received notification from Hermes UK Small Companies Focus Fund that it has a notifiable interest in 2,496,739 of the Company's ordinary shares, representing 10.002% of the issued share capital.

For further information, please contact:

Financial Dynamics Tel : 020 7831 3113
Jon Simmons
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This needs no explanation.
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Manganese Bronze Hldgs PLC

Manganese Bronze Holdings PLC ('Manganese Bronze' or 'the Company')

RIS Announcement

13 December 2007

Following the approval and adoption by shareholders of the Manganese Bronze Long Term Incentive Plan 2007 at its Annual General Meeting on 27 November 2007, the Company announces that the following nil-cost options over ordinary shares of 25 pence each in the capital of the Company were made on 12 December 2007 to Persons Discharging Managerial Responsibilities ('PDMRs') of the Company:

Name of PDMR Total number of shares held under option

John Russell 384,764
Mark Fryer 163,181
Peter Shillcock 163,181
Paul Woolley 46,378
Mike Brown 41,225
Tony Pearman 46,378
John Blight 38,648
Matthew Cheyne 41,225
Rob Laidler 36,072
Larry Lewandowski 25,285
Gang Wei 36,072
Paul Stowe 38,648
Adrian Banks 33,495
Mark Devin 23,447

No consideration was paid for the grant of the options.

75 per cent. of an option will normally become exercisable on the sixth anniversary of the date of grant subject to the satisfaction of a performance condition set by the Remuneration Committee of the Company based on the Company's profits before tax for the financial year ending 31 December 2012 (subject to early testing and vesting for the years ending 31 December 2010 and/ or 2011).

25 per cent. of an option will normally become exercisable on the day immediately following the date of announcement of the Company's annual results for the year ending 31 December 2011 subject to the satisfaction of a performance condition set by the Remuneration Committee of the Company based on the Company's total shareholder return performance and real earnings per share growth.

An option (or the part of it that vests) may normally be exercised during the period of six months commencing on the date that it becomes capable of exercise.

This notification is made in accordance with DTR 3.1.4.

For further information, please contact:
Financial Dynamics Tel : 020 7831 3113
Jon Simmons / James Ottignon
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shares are once again in free fall and I think we might see a new 52 week low by the end of today's trading.

The market cap is now 69 million pounds which based on the projected 07/08 12 months sales figures ending in July 2008 of 2510 vehicles, values each FX4 at 27,490 pounds.

Regards

JD

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what were the last trading figures released for the company though?

What specifically do you want to know?

Regards

JD

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well, its ok banding about the share prices but does the company make a profit?....

It made a profit last year but the point is, what does the future hold for shareholders? Its no good telling existing or future share holders that the company made a profit in 2007, when the value of their shares are falling by the day. Shareholders want to know the current and future financial stability of the company and whether they have the ability to make future profits? The answer to that is obvious.

Since 2001 they have made a profit in years 2005, 2006 and 2007, in all the preceding years they made a loss.

They will make a profit in 2008 but I doubt they will make a profit in the UK market in 2009.

Regards

JD

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shares are only of interest to shareholders, the business is the employees on the shop floor, in the factory, trying to earn a living not form trading shares or racking in dividends, but from honest toil, with families to feed whilst the speculators have portfolios of shares with 100's of companies, and care little about the men and women relying on having a job.

do we care about some squealing shareholder seeing his "investment" tumble 70%?... when he could be trading bananas or rapeseed oil and be happier.

I suppose it doesn't make any difference that the shareholders actually own the company? And it is to those same shareholders that the company turns when they require a further injection of funds, not the workers. The share price has a fundamental effect on company growth, borrowing and solvency but I'm sure you realise that.

The Manganese Bronze issue is about whether or not they can survive in the UK when competing with the likes of Mercedes and hopefully others. It has nothing to do with the work force of Coventry and everything to do with driver choice.

If Manganese Bronze can't survive when faced with competition then that's the fault of their product. Don't you agree?



Like I said, "its the shareholders who own the company and pay the workers wages", are you sure you don't have your priorities all wrong.

Regards

JD

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sahreholders are gamblers, if i walk into william hills and blow a grand no-one feels sorry for me do they?


the shareholders can sell stock they worry about and walk away to buy other stock, the workers at the factory cant.

why worry about shares anyway, its all backstabbing and robbers, otherwise no-one would ever get nicked for insider trading would they

MB...(oooh, spooky.....thats both companies with the same initials!)

manganese will close when they are insolvent, not when the shares are 1p each

on another point, im sure buyers will get better service and after-sales support from merc than from manganese, the merc taxi looks to have the same 311cdi engine that the sprinters use....

Why would they feel sorry for either of you. Shareholders are aware it's a gamble. Some you win others you don't.



True and that is what has been happening. The factory workers are as able to buy or sell stock as anyone else if they wish.
I don't see your point.



Ok, now I see your point comrade
The same could be said of many things, including the taxi trade.



Insolvency and a non existant share value will occur around the same time.
Manganese will close when the receivers say so.



Agreed. Apart from the uniquely "taxi" equipment, all parts are the same as the minibus and van variants.

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Manganese Bronze will no doubt be subject to a takeover bid once the share value reaches that point. I think you might find that Chinese made TX4 vehicles will be selling in the UK sooner than you think.

Manganese Bronze Holdings set a new 52-week low during Tuesday's trading session when it reached 268.50. Over this period, the share price is down 67.16%.

Doom and gloom projected for the UK enterprise of LTI, the FT also voice concerns over the Chinese venture. All in all the next 12 months could decide the fate of LTI.

Regards

JD

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In their last annual report Manganese Bronze highlighted their reliance on staying solvent by restricting the competition through the regulatory system. Regulation came top of their Risk list which will come as no surprise to anyone in the taxi trade.
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Risk


The Group is exposed to a variety of risks in the conduct of its business
operations. Each year the Group conducts a formal review of those risks and reports these to the Board of Manganese Bronze Holdings PLC. Mitigation action and strategies to reduce the likely impact are agreed and put in place wherever possible.

Whilst it is not possible to either completely record or to quantify every
individual risk the Group faces, below is a summary of the risks the directors believe are most significant to the Group's business and future performance.

Regulatory

Taxis operating in London must currently comply with the Conditions of Fitness laid down by Transport for London's Public Carriage Office. Outside of London the regulation of taxis in the U.K. is controlled by local authorities, some of whom have voluntarily adopted the Conditions of Fitness requirements. If new requirements are imposed on the way in which taxis are regulated, or amendments are made to the existing Conditions of Fitness, this could have a material impact.

The Group mitigates this risk through investment in our vehicle, lobbying for the benefits of our vehicle and through maintaining our relationship with key regulatory bodies.
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lets be ready for the liquidator's sale of finished vehicles at manganese then, because they will surely carry a premium when only they and the mercs can be used in the LA's that dictate purpose biult vehicles only can be plated.

anyone want a Metrocab with a perkins engine?....

You have to wonder how long the current "conditions of fitness will last" without LTI's

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