Acacia Mining Share Discussion Threads

[crystalclear] 29/3/2008 10:23

Pete
I haven't been following this, but on the AGM invitation are there any special resolutions to be voted on, or is the meeting just to approve the accounts?

When I saw the invitation it looked like it was just to approve accounts.
I was surprised that it seemed to be 2006 accounts - not 2007.

Once again the ACA directors seem to be pushing the limits of acceptable accounting practices.

[p65997] 27/3/2008 21:00

Hi Dessie

I'm not going either but hold my 1500 in hope of something. The fact that I'm on a register presumably means my shares are still recognised. Could we be forced out by a new release of Denby shares where we would have to part with more cash or would they consider new for old making us even more worthless?
Regards
Pete

[amont92051] 27/3/2008 16:38

Excuse my ignorance Desert Orchid but could you tell me the significance of your post, is there a connection with ACA ?, this is not a sarcastic comment merely an enquiry.

[desert orchid] 27/3/2008 00:58

Court confiscates £41m from Izodia director
The court has ordered Gerald Smith, convicted of misappropriating funds from dot-com company Izodia, to pay back almost £41m
Written by AccountancyAge.com
Accountancy Age, 16 Nov 2007
In what has been dubbed the biggest order in England's criminal proceedings, Inner London Crown Court has ordered by way of confiscation almost £41m from Gerald Smith, a former Izodia director, who is currently serving eight years' imprisonment after pleading guilty to ten counts of theft and one count of false accounting.

His prison sentence was handed down in September 2006, and he has been given 12 months to pay. A default prison sentence of eight years' will apply on non-compliance with the confiscation order of £40.95m.

Compensation orders were made, to be paid out of the confiscated funds. They were made in favour of Izodia in the sum of £5.3m and the Royal Bank of Scotland International, Jersey in the sum of £21.3m

According to the Serious Fraud Office, Izodia traded in computer software and when the dot-com bubble burst, became a cash shell. Smith, through his Jersey-based property business, the Orb Group, acquired a substantial stake in Izodia and was able to exert control. As a result, Izodia's cash asset held at the Reading branch of Royal Bank of Scotland was moved to Jersey where it was stolen by Smith.

[amont92051] 25/3/2008 13:27

ahhh youngferret I doubt i'll live that long sadly.... do you want to buy them, yours for £1000

[youngferret21] 21/3/2008 09:58

amont your 20 shares will be worth at least £2000 one day. I have 19 and look forward to that day.

[amont92051] 20/3/2008 14:20

I hold 20 shares in ACA ! amazed to find a discussion thread still being used.

[crystalclear] 19/3/2008 15:07

As I see it, they can only do two things with a company.
1. Pump assets in and out via contracts. The only reason I can see to do that is laundering: making contracts between two companies pass via ACA so that connections become indirect rather than direct. I don't think that achieves much, as it opens the links up to scrutiny and discussion by us. They could just use a wholy owned company instead of us.
2. Take a profit sometime as share dividends. ACA must have losses to balance against profits to reduce tax.

2 Makes much more sense than 1, so I wouldn't be surprised if there is a dividend to us sometime in the future.

[onlyonestorm] 12/3/2008 20:20

MEMORIES!!!!!!!!

Stormy

[d57] 12/3/2008 19:45

I won't be going to the AGM either.

I note, from the Annual Report, that Denby have 81.29% of the shareholding and that Sanilia Ventures Ltd have 14.65%. I am surprised that (together with the 90+% holding) that they are not buying out us small shareholders. The following link may be of interest to some:



D57

[netcurtains] 01/3/2008 12:26

Nope.
However I would be interested
John

[p65997] 01/3/2008 11:21

Hi Netcurtains
I've just come on to log exactly the same comment and question! I got my accounts this morning but only glanced through them.
My first comment was around the name change. I thought we might have had a note about our share certificates being changed to show Denby Investment (UK) Plc. The second point, as you say, is that we are still on a register and considered as investors.
Third point - are Denby trading on an exchange and are they have they issued more shares.
Fourth point and most important - is there a way back for to get something?
I had 15,000,000 worth £45,000. I now have 1500 worth very little. I still don't understand what's happening or if we still have a 30% share in Tethys etc.
Thankfully, I'm making money on GOO (Gold Oil) at the moment.
Finally - Will you be going to the AGM on Friday 28th?
Regards
Pete

[netcurtains] 01/3/2008 10:12

I've just had in the post the Annual Report
of
DENBY INVESTMENTS (formerly ACA)

...So they are still in business and count me as an investor.

My question is does this mean my shares
are in fact totally worthless or do they
still have some "potential" of giving me
a return?

[p65997] 08/8/2007 12:03

CC - you have email and can delete your address - thanks

[crystalclear] 30/7/2007 14:15

Oh, I had to reread my posts myself to see where I mentioned gains in a context of ACA! LOL

I am afraid you have misinterpreted me. It is bound to be my fault: I don't write clearly, as I tend to know what I am thinking, but only ever seem to get half of it down on paper.

==

Let's say you make £50,000 profit some time on Vodafone, or some other company. The government would want to tax you about 40% of £50,000 and stick you with a tax bill of £20k. If nothing else happened, you would have a large tax bill. If you simultaneously sold ACA shares bought for £50k for £1 to a guy down the road, then you'd also have a £50,000 loss, no net gain and no tax.

So my mention of gains in the context of ACA was NOT refering to gains from ACA shares. Sorry for any misunderstanding!

[crystalclear] 30/7/2007 14:00

Pete, I've no idea where I stand with ACA!

I've lost touch with you.
Do you want to email me some contact details, as we have similar sized holdings?
xxx@AssOL
Even if you don't, let me know here when you have read this please, as I don't like leaving my email address on display.

[p65997] 27/7/2007 18:58

CrystalClear
Rereading your comments about ACA and future gains, are you saying that something can still happen? If ACA is private, can our shares be disregarded or is there some vague hope in Tethys that could affect us? In simple terms are ACA shares dead and buried for definite?
I'd like to track down Charles Helvert and ask him to buy mine back for £50k!
Regards
Pete

[fairfax ache] 23/7/2007 09:12

Sold for more than £1 then................

[americanmoni] 27/6/2007 20:19

Tetheys IPO today on TSX last quote C$2.75

Company Name: Tethys Petroleum Limited
Industry: Oil & Gas
Symbols/Instruments: TPL - Tethys Petroleum J

Date of Listing: 27 Jun 2007
Fiscal Year-end: DEC 31
Company Status: TRADING
Address: P.O. Box 524, Suite 3
Borough House, Rue du Pre
St. Peter Port
Guernsey, UNK
GY1 6EL
Channel Islands
Phone: [phone]
Fax: [phone]
Web Address:
Email Address: [e-mail]
IR Professional: Sabin Rossi

[fairfax ache] 23/5/2007 02:42

WTV looks interesting.

You can wait and loose everything.

Or you can cash in what you have left.

Instict says do the former.

Experience and common sense says the latter!

Good Luck

[euro99] 20/5/2007 20:08

Interesting all this Atlantic Caspian.

Can anyone shed any light on it for the benefit of those suffering at WTV?