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What’s up at Ramesys?

publication date: Mar 2, 2008
author/source: Ed Tranham

The last few months have seen the exit of Bill Donoghue and two other directors involved in the MBO of Ramesys in December 2005, principally funded by Lloyds TSB Development Capital. The three resigning directors controlled nearly 65% of the company when its annual return was filed in November 2007. Although Ramesys has recently announced several BSF wins, the financial benefit of these contracts won’t be seen until the schools have been built or refurbished. We are wondering if this profile is impacting on financial targets at Ramesys (see RM story: BSF increases seasonality of RM profits). The company is now four months overdue in filing its 2006 accounts.

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