Financial Payment Systems Share Discussion Threads

[seanmiller] 19/5/2008 12:53

tick tock tick tock.

30 days to go then. Should be an interesting month lol.

[chancer6] 19/5/2008 12:45

Yes agree.

[hugepants] 19/5/2008 12:21

Interesting developments. Ong Ann Lay (WestStar Ventures) has 47%. So its him and one other of

Credit Suisse 8.7%
Mellon Nominess 8.5%
HSBC 7.6%
D Gourlay 4.9%
Securities Services Nominees 4.5%


IMO it looks likely Ong Ann Lay will bid for the remaining shares. Its probably a no-brainer at around 1p.

For comparison Springdoo (SDOO) delisted 3-4 weeks ago. I bought 2-3 grands worth at 2p just before delisting. SDOO is a shell with 8p cash. Last Friday SDOO management made an offer for the shares at 5p. A no brainer for them at that price obviously.

[8trader] 19/5/2008 12:12

"If within 1 month of this announcement the Company has
failed to appoint a replacement nominated
adviser, the Admission of its AIM securities will be cancelled"

Only chancer6 can see that as good news !

[chancer6] 19/5/2008 12:05

Good news imo and quite likley that the ousted CEO Ogg Lay Ann wrote the letter...imo shouldn't be hard to get another broker. Sure Ogg Lay Ann will have some plans with his approx. 45m shares holding.

[chancer6] 19/5/2008 12:04

Suspension/Directorate Change/Resignation of NOMAD




RNS Number : 7647U
Financial Payment Systems Limited
19 May 2008


Financial Payment Systems Limited

("FPS" or "the Company")

Suspension of Admission to trading on AIM, Potential Directorate Change and Resignation of
NOMAD and Broker

On Friday 16 May 2008 FPS received a letter, that appears to be from certain shareholders
who in aggregate represent more than half of
the issued share capital of the Company, giving notice that, in accordance with Article 17 (g)
of the Company's Articles of Association,
Malcolm Williams and Richard Last be removed as directors with immediate effect from the
deposit of the notice at the Company's registered
office. Further enquiries are being made by the Company to verify the validity of the letter
but in the event it is valid the Company will
have one remaining director, Lee Keen Whye.

As a result of this shareholder action Daniel Stewart has given notice that it is
resigning as NOMAD and Broker to the Company effective
immediately.

As a result of the above the Company's shares will remain suspended from trading on AIM
and the Board will keep shareholders advised of
future developments as they arise. If within 1 month of this announcement the Company has
failed to appoint a replacement nominated
adviser, the Admission of its AIM securities will be cancelled.


Contacts:
Daniel Stewart & Company Plc Tel: + 44 (0) 20 7776 6550
Lindsay Mair / Simon Leathers
This information is provided by RNS
The company news service from the London Stock Exchange

END

[seanmiller] 19/5/2008 12:00

Oh dear, how murky is that!!!!

You lost your money now chancer lol, another one bites the dust.

[seanmiller] 19/5/2008 11:59

RNS Number : 7647U
Financial Payment Systems Limited
19 May 2008


Financial Payment Systems Limited

("FPS" or "the Company")

Suspension of Admission to trading on AIM, Potential Directorate Change and Resignation of
NOMAD and Broker

On Friday 16 May 2008 FPS received a letter, that appears to be from certain shareholders
who in aggregate represent more than half of
the issued share capital of the Company, giving notice that, in accordance with Article 17 (g)
of the Company's Articles of Association,
Malcolm Williams and Richard Last be removed as directors with immediate effect from the
deposit of the notice at the Company's registered
office. Further enquiries are being made by the Company to verify the validity of the letter
but in the event it is valid the Company will
have one remaining director, Lee Keen Whye.

As a result of this shareholder action Daniel Stewart has given notice that it is
resigning as NOMAD and Broker to the Company effective
immediately.

As a result of the above the Company's shares will remain suspended from trading on AIM
and the Board will keep shareholders advised of
future developments as they arise. If within 1 month of this announcement the Company has
failed to appoint a replacement nominated
adviser, the Admission of its AIM securities will be cancelled.


Contacts:
Daniel Stewart & Company Plc Tel: + 44 (0) 20 7776 6550
Lindsay Mair / Simon Leathers
This information is provided by RNS
The company news service from the London Stock Exchange

END

[chancer6] 19/5/2008 11:50

Have been told by Malcolm Williams just now that there will be an announcement later today. He said he couldn't say more because you will see that from the annoucement. He did confirm that the company isn't ceasing to exist.

[seanmiller] 19/5/2008 11:11

don't let your sweat drip onto the tracks, we don't want any derailing on the trains today lol

based on the info available I would say this is not the best news for holders. I would rather be out than in IMO.

[seanmiller] 19/5/2008 10:51

"Chancer6 - 19 May'08 - 10:19 - 660 of 661
The nominated advisors are in discussions with the company is what I've just been told from an advisor at Daniel Stewart."

packing yourself lol.

[mufprat] 19/5/2008 10:42

'Joint Venture back on'

PMSL. Read the RNSs, the JV has been terminated and a new man appointed to oversee the termination. Talk about grasping at straws - LoL

'or something would put the share price back at 3p'

I like the something, maybe they will find gas or oil or 'something' - so funny

[chancer6] 19/5/2008 10:19

The nominated advisors are in discussions with the company is what I've just been told from an advisor at Daniel Stewart.

[seanmiller] 19/5/2008 10:01

chancers highly ramped LNX back on the losers list for the day, a true novice lol.

[seanmiller] 19/5/2008 09:59

"Chancer6 - 19 May'08 - 09:58 - 656 of 657

Can't be anything bad imo...The joint venture back on or something would put the share price at 3p when trading resumes."

better get the Persil on those trousers though chancer eh!

[seanmiller] 19/5/2008 09:58

She has quite a few bankrupt stocks lol, and I agree Mufprat, this will drag on for a while. The writing was on the wall here for a long time. The only good thing is that it has locked in her money. She invested £3,500, so is already down £2,500!!!

so i suppose she only has another grand left to lose in that respect.

I assume she will still post though as she was always merely "informing" everyone rather than "ramping", so the posts should continue, unless she was trying to encourage buyers.......god forbid that was the case!!!

[chancer6] 19/5/2008 09:58

Can't be anything bad imo...The joint venture back on or something would put the share price at 3p when trading resumes.

[double6] 19/5/2008 09:47

Will it join the long list of losers....


PARO, LNX, MGP, PLW, FPS, FEI, AAZ......FPS ???

[mufprat] 19/5/2008 09:40

Probably go the way of many similar companys, 'temporary' will drag on for months and months and inevitably never come back. In the mean time smiler's dosh is locked up, oh dear :))

[seanmiller] 19/5/2008 09:12

I told you suspension was coming soon tho!!!!

[godolphin] 19/5/2008 09:07

I never got a chance to buy! lol.

[chancer6] 19/5/2008 08:50

Shares suspended pending announcement....temporary too. IMO the annoucement will be positive and mark up over 1p upon that.

[orinocor] 19/5/2008 08:24

Temporary suspension. The news could be good or bad. You'll just have to wait and see.