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COMG Amd Commo Exagr

1,857.90
16.20 (0.88%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Amd Commo Exagr LSE:COMG London Exchange Traded Fund
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  16.20 0.88% 1,857.90 1,857.00 1,858.80 - 615 16:35:19

Amd Commo Exagr Discussion Threads

Showing 1526 to 1541 of 1625 messages
Chat Pages: 65  64  63  62  61  60  59  58  57  56  55  54  Older
DateSubjectAuthorDiscuss
02/10/2010
07:10
And the below update is not satisfactory in my opinion. 80% of it is giving shareholders a history of the company and its 'achievements'. Why?

What shareholders want to know is more detail on the way ahead - if there is one. And the management should be consulting with shareholders regardless of whether negotiations are successful or not. Have any shareholders been consulted since?

In the absence of an adequate explanation shareholders may be questioning whether the education assets were sold at a reasonable price (70k)and whether this contributed to the failure. terryh suggested that the price was far higher than this with all things considered.

He also mentioned (regarding London Asia Capital) that he thought Jack Wigglesworth and other directors (presumably Allnutt) did a good job at keeping Littlewood at bay.

Where is the evidence for this?

Without a more detailed analysis from him regarding both matters I believe shareholders in COMG and LAC will feel very let down by the ex management.


A Message From The Chief Executive Officer

We are writing to update shareholders on progress at Commodity Growth plc, formerly Europasia Education plc (EPE). You will recall that the current board were appointed in 2003 following a succession of losses in the company including losses in 2002 of £2.2m. The board implemented a new strategy, raising in excess of £1.5m from investors in a series of funding rounds and re positioning the company as a pioneering education investment company focused on the fast growing Chinese market where the company opened a representative office. The company purchased 100% of Management International, a vocational and business training organisation and English 2000 a leading English language school. In addition, we established "Hello English" as a joint venture which went on to develop radio based courses in China which attracted an estimated four million participants, the largest non governmental training programme in the world. These successes led to Consultancy work for the Group including with the BBC to develop English language courses and with a number of Chinese Colleges.

After careful research, the company made two very important strategic investments. the first was in the Shandong International Institute for Translation which was purchased by Europasia Beijing and in which EPE had a 15% stake having invested £156,000 in cash and a much larger amount in shares. EPE Beijing was subsequently listed on PLUS market in London with a new ultimate holding company, China Education Group plc. Our investment at the time and subsequently helped to develop a second campus of 22,000 square metres of lecture rooms, libraries and student accommodation, boosting student numbers by over 3,000. The value of our investment, reflected in the PLUS listed shares rose by 160% at their height.

Building on this success, the company then invested to take a 10% stake in the Dalian Business Institute. As with the previous investment, the College was assisted in the development of new courses, marketing strategies and accounting systems and with a listing onto PLUS. The number of students rose by over 1.000. EPE increased its stake by another 5%. At its height, this investment produced a return in the form of PLUS shares of 109% for EPE

The loss in EPE of £2.2m in 2002 was turned into an audited profit of £1.1m for the financial year 2006.

Despite these achievements, the company was not able to translate the success into a rising share price. A consolidation, press coverage and private client broker tours failed to address this. The company was unable to raise additional sums needed for the next identified investments and so a decision was taken to alter the focus in order to continue growth. Victor Ng, an EPE Director devised the new strategy. The company would remain a China focused investment business but would concentrate on commodities. A new management team of four was recruited to run the business in China. Each of the four had the background, experience and contacts in the industry needed for the strategy. Benson Day was recruited as Chief Executive Officer, the London office was closed and a new office opened in Singapore where Benson Day was based. James Holmes, stepping down as CEO, joined George Allnutt as a non executive Director. The new management team announced the first investments had been identified and due diligence was underway. In the course of the following months the company moved back from profit to loss and the quote on AIM was ended. These events led to the resignation of the management team, then the new CEO and then Victor Ng.

These events have left the company in a difficult position. There is no longer an office or administrative base and there are now significant accrued interest payments due to loan note holders which will make a re-admission to the market and a fundraising difficult. The non executive directors have had to temporarily reassume executive functions in order to manage the portfolio and negotiate with the loan note holders. If these negotiations are successful, the directors plan to consult with shareholders on ways to develop the business and restore value to shareholders.

James Holmes

Chief Executive Officer

20 July 2009

loverat
02/10/2010
06:56
I see HML looks like another one to go down the pan.... I think I traded those once. Anyway - this appears to be a recent appraisal of the management there....


The GE&CR August 2010 Monthly View

Henderson Morley*
This company has entered administration. Our views on the behaviour of its CEO are unprintable and shareholders have lost everything. Penny biotech shares are risky. That risk is enhanced when such enterprises are run by individuals not fit to run a Scout Group let alone a public company.


Perhaps the same comments could be applied here also.

loverat
30/9/2010
20:19
"I am the king of the FSA - completely.......
loverat
29/9/2010
05:51
Which reminds me.

egoi - you did quite a bit of research on Dalian and China Education Group.

Was Littlewood a director of Dalian - the company in which CGOP sold its stake recently?

I only ask because it seems that their annual return was faxed in by him to Jersey Companies House in Feb 10.

loverat
28/9/2010
05:55
A newspaper article featuring some comments made by an ex director here.



Conservative councillor James Holmes responded: "We support this motion but councillor Hanna is wrong. It should be clear to all councillors that this is a trust with very poor financial management and we, as councillors, need to get a grip on that.


Perhaps someone should have got a 'grip' on this before it went down the pan.

loverat
26/9/2010
14:02
The RSV situation is still interesting - even after this time.

I see most of the posters who supported the leader currently post on the THUS threads.

Seems that even they closed ranks around Smith and Allnutt. I asked them who cougar6 was some time back and no response. Had to find out for myself and waste a great deal of my time.

loverat
24/9/2010
16:51
JUSTICE IS NOT JUST REQUIRED,
IT MUST BE SEEN TO BE DONE

loverat
24/9/2010
06:15
This is the RNS announcing the sale. Over to you terryh.

Show me what a great bunch of ex directors they were......


'In order to finance the new strategy we intend to dispose of the existing
education portfolio. The E2000 management team, along with myself and fellow
EPE director George Allnutt, has made an offer of #70,000 to acquire the entire
UK business consisting of E2000 and Management International ("MI"). Payment
will be made via the cancellation of EPE's 10% Convertible Loan Notes. The
acquisition price represents approximately three times the combined E2000 and MI profits for 2006. Additional consideration may become payable based on any
increase in profit in 2007 over 2006. The independent directors, Simon
Littlewood and Victor Ng, have determined that the sales price and acquisition
terms are reasonable. In view of the interests of George Allnutt and myself, theproposed disposal constitutes a substantial property transaction under section 320 of the Companies Act 1985, and, accordingly, is conditional on the approval of shareholders at the AGM'.

loverat
24/9/2010
05:36
terryh

Thought I had come across your posts before but none on the London Asia Thread.
I take it with this post and the other on LDC that you are probably one of the ex directors of LDC/COMG/EPE. Perhaps you could expand on this as it is not very clear.


terryh - 23 Sep'10 - 14:37 - 9160 of 9224


Loverat / Madscorpian. You should try getting your facts right! You indicated that a school was purchased by the directors of EPE at a giveaway price of 70,000 pounds, in fact this school was purchase was led by the largest shareholder, the head of the school, and the price was well in excess of 70,000k only for the goodwill of the school.

loverat
20/9/2010
17:32
JakNife - 16 May'04 - 23:40 - 3674 of 3739
Good evening uknighted

"The problem isn't the D4E its about non-delivery."

To begin with it was your lord and master, Anom, that brought up the subject of the D4E and not me so quite why you are even addressing your comments at me in the first place is beyond me.

Secondly though, it is a fundamental error on your part to claim that the issue is about "non-delivery", since the shares have physically actually been delivered. The issue is about delayed delivery and whether ANY loss was incurred as a consequence of that delayed delivery. Otherwise though, shareholders got the shares that they paid for and where lucky to find that Chiddingfold had, in the meantime, saved their company from the brink of insolvency.


My Way - 18 May'04 - 12:10 - 3679 of 3739
JakNife Delayed delivery = lots of compensation.


And where is the compensation for COMG shareholders?


Yes folks, the rich trying to gain 'compensation'

Hang your head in shame.

Shareholders are due compensation - now stump up the cash.

loverat
16/9/2010
20:25
Hey Painting

You are welcome back here.

GL

loverat
14/9/2010
16:54
Yes, that's right. Brett Miller. Their motion was voted down - presumably because they could not be trusted.

So, they sell their stake in Dalian (Commodity Growth also has a stake in Dalian) for 10K.(dollars)

Interesting.

loverat
14/9/2010
16:49
CGOP - now were they not the outfit which tried to oust most of the directors of London Asia Capital and install themselves at the end of last year?. If my memory serves me correctly, I believe Littlewood voted with them.
loverat
14/9/2010
16:43
Dalian Business Institute - Jersey Company House.

Seems someone is sending in their returns on time. I wonder who.....

4511542 31 Aug 2010 Register of Members
4457543 26 Feb 2010 Annual Return
4363974 27 Feb 2009 Annual Return 2009
4415572 27 Feb 2009 Annual Return 2009
4286461 20 Jun 2008 Annual Return 2008
4183169 16 Aug 2007 Public Company Accounts
4125758 26 Feb 2007 Annual Return
2255722 06 Feb 2006 Foundation Documents

loverat
14/9/2010
16:31
Yes - the same company which announced good results and then came out with this.....


"The Company's shares will
remain suspended from trading on PLUS, and we do not anticipate a lifting of
the suspension in the near future as the Company does not currently have the
resources to be able to meet all the costs involved in maintaining the listing".........

loverat
14/9/2010
16:25
Folks will know about Dalian Business Institute - of whom I believe Allnutt is or was a director......

From a recent CGOP RNS - Littlewood was a director up until relatively recently.

Who did they sell their stake to?

And for a measly 10K (dollars) too.

"On 13 July 2010, the Company sold its entire investment in Dalian
Business Institute for a total of US$10,000"

loverat
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