Buy Or Sell Opportunity • May 05
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to UK£1.51. The fair value is estimated to be UK£1.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to decline by 48% in the next 2 years. Announcement • Apr 08
Mha Plc (AIM:MHA) completed the acquisition of Moore Stephens LLC and Moore Stephens Consulting LLC. Mha Plc (AIM:MHA) entered into an agreement to acquire Moore Stephens LLC and Moore Stephens Consulting LLC for £7.4 million on December 22, 2025. Under the terms of the Agreement, MHA expects to pay total consideration of £7.4 million on a cash-free, debt-free basis with a normalized level of working capital. An initial payment of £6.1 million will be made at completion, with a final payment to follow agreement of completion accounts. The total consideration is to be settled 50 percent in cash and 50 percent in new ordinary shares. MS UAE is led by Managing Partner Farad Lakdawala and has three partners in total, all of whom will remain with MHA following completion. Both firms will rebrand to MHA.
For the period ending December 31, 2024, Moore Stephens LLC and Moore Stephens Consulting LLC reported total revenue of £5.7 million.
Completion will follow regulatory approval in the UAE. The acquisition, if completed, is expected to be earnings enhancing within the first full financial year following completion.
Mha Plc (AIM:MHA) completed the acquisition of Moore Stephens LLC and Moore Stephens Consulting LLC on April 7, 2026. Announcement • Mar 28
Mha plc Declares Second Interim Dividend in Respect of the Year Ending 31 March 2026, Payable on April 28, 2026 MHA announced that, in line with the policy set out in the Company's Admission Document, the Board has declared a second interim dividend of 1.0 pence per share, to be paid on 28 April 2026 in respect of the year ending 31 March 2026. The ex-dividend date is 2 April 2026 and the associated record date is 7 April 2026. Announcement • Feb 27
MHA Appoints Murray Watt as Partner and Head of Operations MHA, an independent UK member of Baker Tilly International, has appointed Murray Watt as partner and head of operations. In this position, Watt will work with the CEO and senior leadership to implement MHA's growth, transformation and operational priorities. Watt has spent more than 12 years within the Baker Tilly network. As regional director for Europe, the Middle East and Africa (EMEA) at Baker Tilly International, he worked with member companies to design and execute region-specific strategies, helping convert strategic goals into measurable outcomes. He also served as enterprise strategy director at Baker Tilly US, where he worked with C-suite executives and senior leaders to shape and deliver strategy at the overall company and individual business unit levels. Announcement • Dec 23
Mha Plc (AIM:MHA) entered into an agreement to acquire Moore Stephens LLC and Moore Stephens Consulting LLC for £7.4 million. Mha Plc (AIM:MHA) entered into an agreement to acquire Moore Stephens LLC and Moore Stephens Consulting LLC for £7.4 million on December 22, 2025. Under the terms of the Agreement, MHA expects to pay total consideration of £7.4 million on a cash-free, debt-free basis with a normalized level of working capital. An initial payment of £6.1 million will be made at completion, with a final payment to follow agreement of completion accounts. The total consideration is to be settled 50 percent in cash and 50 percent in new ordinary shares. MS UAE is led by Managing Partner Farad Lakdawala and has three partners in total, all of whom will remain with MHA following completion. Both firms will rebrand to MHA.
For the period ending December 31, 2024, Moore Stephens LLC and Moore Stephens Consulting LLC reported total revenue of £5.7 million.
Completion will follow regulatory approval in the UAE. The acquisition, if completed, is expected to be earnings enhancing within the first full financial year following completion. New Risk • Nov 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 24% Last year net profit margin: 37% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 44% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (24% net profit margin). Announcement • Nov 22
Mha Plc Declares First Interim Dividend for the Year Ending 31 March 2026, Payable on 29 December 2025 The Board of Mha Plc declared a first interim dividend of 1.0 pence per share, to be paid on 29 December 2025 in respect of the year ending 31 March 2026. The ex-dividend date is 27 November 2025 and the associated record date is 28 November 2025. Announcement • Nov 13
Mha Plc to Report First Half, 2026 Results on Nov 20, 2025 Mha Plc announced that they will report first half, 2026 results on Nov 20, 2025 Buy Or Sell Opportunity • Nov 11
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to UK£1.50. The fair value is estimated to be UK£1.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are forecast to decline by 30% per annum over the same time period. Announcement • Nov 01
MHA plc Provides Group Earnings Guidance for the First Half of 2026 MHA Plc provided Group earnings guidance for the first half of 2026. For the period, the company expects revenue to be approximately £121.3 million, up 13% on H1 25 (£107.2 million). Of this revenue growth, 3% relates to the acquisition of Baker Tilly South-East Europe Holdings Limited ("BTSEE") in August 2025, and 1.5% is attributable to the full period income from Baker Tilly Ireland, acquired in July 2024. Despite market uncertainty in FY26 to date, the Group has continued to see rising demand for high-quality advisory services. Increasing regulatory complexity continues to be a key driver, supported by a well-established focus on growing market sectors. Buy Or Sell Opportunity • Oct 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 8.7% to UK£1.47. The fair value is estimated to be UK£1.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are forecast to decline by 30% per annum over the same time period. New Risk • Oct 01
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Earnings are forecast to decline by an average of 30% per year for the foreseeable future. Buy Or Sell Opportunity • Sep 17
Now 21% undervalued Over the last 90 days, the stock has risen 21% to UK£1.49. The fair value is estimated to be UK£1.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are forecast to decline by 30% per annum over the same time period. Announcement • Aug 12
Mha Plc (AIM:MHA) completed the acquisition of Baker Tilly South East Europe Holdings Limited for €20 million. Mha Plc (AIM:MHA) entered into a heads-of-terms agreement to acquire Baker Tilly South East Europe Holdings Limited for €24 million on May 7, 2025. A cash consideration of €6.5 million will be paid by Mha Plc. The consideration consists of common equity of Mha Plc having a value of €17.5 million to be issued for common equity of Baker Tilly South East Europe Holdings Limited. The purchase price is a total maximum consideration of approximately €24 million with the final consideration to calculated based on completion accounts. The upfront amount of €6.5 million shall be financed using existing cash resources. The transaction is expected to be earnings enhancing.
For the period ending December 31, 2024, Baker Tilly South East Europe Holdings Limited reported total revenue of €19.4 million and adjusted EBITDA of €3.9 million. As of December 31, 2024, Baker Tilly South East Europe Holdings Limited reported total common equity of €1 million.
The acquisition remains conditional on completion of final due diligence, agreement of final terms and the entering into of a sale and purchase agreement.
Cavendish Capital Markets Limited acted as financial advisor for Mha Plc.
Mha Plc (AIM:MHA) completed the acquisition of Baker Tilly South East Europe Holdings Limited for €20 million on August 11, 2025. As part of the acquisition, MHA will pay to the vendors of BTSEE, 90% of the initial €20 million equity value through an initial cash consideration of €5.4 million, plus €12.6 million to be satisfied through the issue of 10,862,069 new ordinary shares. The remaining 10% equity value is payable through additional new ordinary shares to be issued in due course, which the vendors shall contribute to the Company's Employee Benefit Trust (EBT) with such number of shares to be determined following completion account adjustments. A final balancing payment will be made to the vendors depending on net debt and working capital adjustments based off completion accounts. The payment will comprise a mix of cash and new ordinary shares in MHA. Consistent with the approach taken by MHA Partners on IPO, the vendors will contribute 10% of the total consideration receivable by them to the EBT in new ordinary shares. All consideration shares will be subject to lock-in and clawback arrangements as apply to the shares acquired by the existing MHA Partners on the IPO of MHA. Announcement • Jul 18
Mha Plc to Report Fiscal Year 2025 Results on Aug 14, 2025 Mha Plc announced that they will report fiscal year 2025 results on Aug 14, 2025 Announcement • Jun 06
Mha plc Provides Group Earnings Guidance for the Year Ended 31 March 2025 Mha Plc provided Group earnings guidance for the year ended 31 March 2025. Subject to audit, the Group expects to report FY25 revenues of approximately £224 million, up 45.4% on the prior year (FY24: £154 million). Announcement • Apr 16
MHA plc Appoints Steven Moore as Chief Financial Officer, Effective April 15, 2025 MHA plc announced that Steven Moore, qualified with MHA and became a partner in 1989. He has been a member of the Board since 2011 with responsibility for the Group's finances and will continue as Chief Financial Officer from Admission (Effective April 15, 2025). He has worked closely with Rakesh on the Board for the past 13 years and leads on the mergers and acquisitions across the Group. He is Regional Chair of the Central, Midlands and Welsh regions. Steven has a client facing role specialising in the professional practices sector. He is a qualified Chartered Accountant and an audit Registered Individual. His experience includes providing business advisory services to mid to large privately owned businesses and subsidiaries of foreign parents. Announcement • Apr 15
Mha Plc has completed an IPO in the amount of £98.011779 million. Mha Plc has completed an IPO in the amount of £98.011779 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 95,800,000
Price\Range: £1
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,211,779
Price\Range: £1
Transaction Features: Regulation S; Rule 144A 
