JakNife
16 Feb 2015
Re: Petition Share Prophets LOL! What a nonsense petition!
Harry Potter
16 Feb 2015
Petition Share Prophets [link]
GoldenBug
16 Feb 2015
Press release! In so far as Mr Winnifrith claims to be the "Sheriff of Aim", (a market in which Worthingtonis not involved) his first action should have been to turn himself in. As he appears reluctantto do this, we have alerted the relevant authorities, and will prosecute our claims againsthim with the utmost vigour. ...[link]
okenia
15 Feb 2015
Re: Pension Scheme The other thing of (mild) interest is that the shareholder structure of CPS has changed recently. They did a 1:2 share split (50m to 100m shares). Adeniran kept all his shares by the look of it so now have 50m shares (50%) of CPS. There are a couple of new names (PYX Financial and SmallCap Consulting, both appear to be Canadian) now on the register. Crucially Holmes/Westward/Campbell [the three other previous shareholders alongside Adeniran] have heavily reduced their holdings, presumably transferring/selling their holdings to the new names on the register.Shareholders (Top 20 names shown) Number of Shares (at Value) Share Type Ownership (%) SHOLA ADENIRAN 50,000,000 (at £0) ANTHONY CAMPBELL 5,000,000 (at £0) MAURICE EBERHARDT 125,000 (at £0) L. EBERHARDT 125,000 (at £0) JAMES HOLMES 9,207,000 (at £0) N. HOLMES 9,693,000 (at £0) F D RESOURCE & SUPPORT LTD 950,000 (at £0) SMALLCAP CONSULTING LTD 5,750,000 (at £0) PYX FINANCIAL GROUP LTD 9,725,000 (at £0) WESTWARD CONSULTANTS LTD 9,425,000 (at £0) Read more at: [link]
okenia
15 Feb 2015
Re: Pension Scheme I've found a bit more about Westward Consulting btw.If you look in the CPS 2013 Annual Accounts document p13 section 1.2 Westward consulting are described as "a company controlled by and shareholder and JDR Holmes, a Director". We had suspected it was a Holmes-associated company based on it being seen alongside him at MHG, nice to see it in black and white.
TX2
15 Feb 2015
Re: Pension Scheme .....and of course another pensionfund trustee Robert Hodgetts,"found" by Doug Ware also has links with James Holmes & Craig Whyte at Countryliner Group Ltd.I should point out that the subject to DD sale of CPS was a fairly complicated share & loan deal valued at cdn$2m not cash!
okenia
15 Feb 2015
Re: Pension Scheme The timelines of appointments of CPS directors:[link]
okenia
15 Feb 2015
Re: Pension Scheme The key bit of new news in the 71 page doc is that Doug Ware found and appointed Shola Adeniran as one of the JPF trustees. This was in 2012.Mr Adeniran is CEO and 50% shareholder of one CPS Energy Resources, which was founded in 2012. He would therefore have been CEO at the time of this Dec 2012 hearing. Indeed, the document refers to his "oil and gas" interests. Since he had only just been appointed as a Trustee at the time of the hearing, that means Doug appointed him as replacement Trustee when he was already CEO of CPS.Roll on to 2014. WRN announce a slightly opaque deal where they will invest £12.5m in .... CPS Energy Resources! (for what percent of the company we don't know). Yes, same company, same Adeniran.And then a couple of weeks ago it is announced in the news that CPS Energy Resources has been sold in toto to someone else. Guess how much for (given that WRN were going to pay £12.5m for just part of CPS)? $2m.
TX2
15 Feb 2015
Re: Pension Scheme Just to clarify the missing £2.95m assets did not & have never belonged to Worthington;they are funds missing from Jerome Pension Fund.This is a pension scheme whose beneficiaries are former employees of the Jerome Group a former subsiduary(now in liquidation) of Worthington,but remains the responsibility of WRN to fund.The funds were lent by trustees of Jerome Pension Fund to a company connected to Craig Whyte & James Holmes for use in connection with the takeover of Rangers,whilst the funds never reached Rangers they are subject to conflicting claims of other creditors owed money who are also creditors including Merchant Turnaround Ltd who also lent money,which I believe was a failed investment fund connected to & directed by Craig Whyte & James Holmes but it was outside investors I believe who in the main provided funds and HMRC.At best if/when Jerome funds are recovered there could be a serious shortfall at worst they may not be recovered.Worthington Group PLC is ultimately legally responsible for any shortfall in Jerome Pension Fund and their claim to WRN assets ranks before shareholders.This £2.95m shortfall is in addition to the published pension shortfall in WRNs accounts.I have drawn attention to this "problem" with Jerome Pension Fund on this board.The first time I think being 9th March 2012.What the document that Tom Winnifrith has revealed is the trustees of the fund,in my opinion the lending of these Jerome funds was utterly reckless.I had previously been unable to obtain their names.
Owen Nobody
14 Feb 2015
Pension Scheme All a bit confusing that WRN assets are pledged to Rangers on behalf of WRN pensioners.Looks like WRN is going to come under sustained bad publicity over the next couple of months which at best with delay anything going on here.
gordonmurr
05 Feb 2015
Another load of twaddle Another load of twaddle , we do this,we do that !MAYBE!
TX2
27 Jan 2015
Ten Green Bottles! So the fantastic CPS deal is no more;CPS sold 10 days or so ago for $2m(Canadian) in an all paper/loan stock deal to something called 1011709 B.C. Ltd.Remind me the previous WRN proposal was to invest £12.5m cash in CPS lent to WRN by WRN Convertible Loan holders converting & selling 5m WRN shares(@5p or 10p I assume) then lending back the proceeds to WRN & the investment was hoped to be valued at 27.5% of the likely value of the CPS shares when floated.Any plans to publish audited accounts for the year to Sept 30th 2014?Interesting to see how the billion pound empire is going.
ClockWorkOrange
21 Jan 2015
Re: RNS - reverse takeover TX2 - Paid Deramper - Check post history re QPP
vivat
15 Jan 2015
Salop I have tried that and there is no discussion site because of name change. Trying to do some research but always good to get a feel also for a stock from a discussion
vivat
15 Jan 2015
Larry Why is there no live discussion site for VAST
