Fibregen Share Discussion Threads

[david77] 21/11/2009 09:10

I recvd the latest accounts today.

Page 52 - the co disposed of a portfoilio of assets to Evergreen Securities, of which Peter Greensmith was a director, for £2,684,000 satisfied by the issue to FBG of 2,556,462 shares in Evergreen.

Page 53 - (g) the co has Evergreen shares shown in the balance sheet at a value of £320,000. ... Subsequently Evergreen was delisted, when the shares in Evergreen were valued at 1p each, valuing the co's shareholding at approximately £25,000.

We have been shafted! :-( and there's nothing we can do about it.

I had shares in a property company - set up in 1991 with the assurance it would be wound up in 1996 - it was a tax fiddle set up by the Tories to give tax relief to rich people to buy houses repossessed from poor people.

The dirs used it as their own personal piggy bank and refused to wind the company up. Shareholders voted the dirs out, and new dirs were appointed, including me. We sued the former dirs - and lost 'cos I had written on the internet that one of the judges at the Equitable Life appeal court had made an "Alice in Wonderland" judgement - he said that all policyholders should get their shares of the assets, but that some should get more! - and I had said that he was promoted to Lord Chief Justice for that nonsense.

Anyway - you say what had that got to do with the property company? Nothing. There is a statement over the main entrance to the High Court in the Strand "High Courts of Justice". That is a lie - it is a lions' den and all that enter risk getting torn to pieces by the opponents' legal team - and if the judge wants to get away early, she'll (in our case) be only too pleased.

[asparks] 11/11/2009 16:01

....and nothing ever will!

[madengland] 11/11/2009 13:35

Wake up.....nothing has happened

[asparks] 26/10/2009 09:57

more yawning..

[madengland] 26/10/2009 09:48

Does he mean the website that seems to be down quite often

[madengland] 26/10/2009 09:47

Prepare for imminent [no] news......

Hi Paul,



I can't give you information that other shareholders do not have. All I can say is that the accounts will be issued shortly and watch the website www./fibregen.co.uk

For announcements.



Best regards



Jonathan Bradley-Hoare



Welbeck Associates

Chartered Accountants and Registered Auditor

31 Harley Street

London W1G 9QS

[madengland] 02/10/2009 17:32

seems to have formed a base line

[asparks] 02/10/2009 15:22

good chart

[david77] 18/9/2009 13:55

Richard Squires, Chairman and Glenn Smith, CEO
31 Harley Street,
London, W1G 9QS

[madengland] 17/9/2009 10:11

Folks, where are these updates coming from? I have recieved nothing at all and the last update on the website is 1/6. Thanks,

[david77] 16/9/2009 12:27

I recvd the same update - doesn't look good to me.

[spaceparallax] 16/9/2009 11:41

I've just received a detailed 4 page update, which although containing not all good news, does suggest that a recovery is possible providing that they are able to:-

a)restructure or replace the £7.9MFBGplc convertible bonds
b)" " £2.2M loan at Westwood Fibre
c)Obtain additional finance to both strengthen working capital (£500K) and if at all possible to allow the Company to be grown via expansion of existing facilities (those profitable presumably) and/or greenfield development of new projects.

There is a possibility that the Company may not be able to successfully execute this strategy. Further communications will be forthcoming.

[turbotrader2] 10/9/2009 19:41

write it off, im looking at a class action against greensmith

[madengland] 10/9/2009 19:26

I was being sarcastic, ref the lack of info from the company who I believe promised investor updates. Am as annoyed as the rest of the bb

[asparks] 10/9/2009 11:08

he should be forced to sell all he owns to give investors something back. Crook.

[abadan2] 10/9/2009 11:05

Wonderful news on FBG's sister company, Evergreen Securities! This company took over some of the noncore investments from FBG, brought in some other "green" assets and raised money at 105p about 16 months ago. Share price now is 2p and it is delisting from AIM. Another Greensmigh success.

[asparks] 07/9/2009 11:54

MAg - your post makes no sense - explain pls

[madengland] 07/9/2009 11:33

great commn to us lowly shareholders

[asparks] 01/9/2009 09:13

tt2 is right. he is not just incompetent...

[kooba] 27/8/2009 20:17

don't disagree at all...but i sincerely do not think he did anything crooked but ultimately like many got caught out by the credit crunch as the working capital structure was not in place for the wheeler dealing he was doing.

[abadan2] 27/8/2009 19:59

Kooba

You are right in that Greensmith believed his own hype and put the £1m plus he took out of Libertas into shares in LNR/FBG. The trouble is that he is one of those people who can make simple things very complicated, with disastrous results.