MHI - Merchant House International

[Joe Blow]

The Merchant House International Group (MHI) designs, produces and sells consumer products with focus on footwear, home textiles, seasonal decorations and gifts. The main export market is the United States of America, although merchandise is also sold to buyers in Australia, Canada and the United Kingdom. Customers in the United States of America include major importers as well as many of the retailers.

 

[piggybank]

I thought it maybe time to add a chart to this thread!!

 

[piggybank]

Still going in the right direction - north...

 

[Dona Ferentes]

hahahehehoho.

4c to 16c in 3 days coming out of TH, now 15c, good luck to the insiders who can see moolah.

(the @barney for throwing up these random doozies )

Merchant House International advises that the Board of the Company has resolved to permanently cease operations at the American Merchant Inc textile factory in the USA. The cessation of business follows continued losses generated by the business. The operation recorded a loss of A$3.7 million for the year ended 31 March 2024 and has continued to sustain losses.

The closure will take place in September 2024 with a view to disposing of the land, buildings and equipment associated with the business. At this stage no estimate can be made as to the timing of the sales or the likely proceeds from the sales.

The potential purchaser of the assets is not known. The Company will approach other major textile manufacturers in an attempt to identify a potential purchaser of the assets.

Following the sale of the assets, it is the intention of the Company to seek a voluntary delisting of the Company from the ASX, together with seeking approval from shareholders to distribute the net funds held by the Company at that time to shareholders followed by the winding up of the Company.

 

[barney]

hahahehehoho.

4c to 16c in 3 days coming out of TH, now 15c, good luck to the insiders who can see moolah.

Interesting stuff DF ..... Out of T/Halt announcing a proposed delisting and the SP spiking. Net monies to be distributed to S/H so someone must think they will have plenty to hand out when the dust settles?

 

[divs4ever]

looked at it several times and wandered off elsewhere ( not ran away )

i guess i will find out if i dodged a bullet or missed an uncut gem ( it's a bit late for me .. now )

 

[barney]

looked at it several times and wandered off elsewhere ( not ran away ) i guess i will find out if i dodged a bullet or missed an uncut gem ( it's a bit late for me .. now )

I think your absence with this one will likely turn out a wise move Divs. Coupled with the high Chinese influence, this alone would scare me off .... (from their last Annual report)