Henderson Mrly. Share Discussion Threads

[gerri-c] 13/11/2010 07:45

Are we to assume that arrangements and dates of the acquisition of assets is not a clue to the conduct of parties involved? Oh but they had been so swift in gaining value for shareholders....

[3doogle] 13/11/2010 00:05

Raj..Copy of post from D,Gaser on iii,

I have received two letters to day ,one from Mrs May, and one from Vince Cable .I'm putting up what is relevant to stock holders regarding the law ect ,this is not a complete transcript of Mr Cables letter ,but highlights the parts that concern all stock holders.
Dave
--------------------------------------------------------------------------
Dear Sir
All insolvency practitioners have a duty under the company directors disqualification act to report confidentially to the secretary of state on the conduct of the directors .the fact that a insolvency practitioner submits a report on a company director9s0 does not necessarily mean that misconduct is alleged .How ever if misconduct is alleged ,the insolvency service ,on behalf of the secretary of state ,then has a discretionary power to seek the directors disqualification where it is believed to be in the public interest .
A disqualification ca run for between 2 and 15 years and contravention can result not only in criminal sanctions but also in the director becoming personally liable for the debts of any new company.
The administrators are required to report on the conduct of the directors of Henderson Morley PLC under the company Directors Disqualification ACT by the 7th March 2011 on whether or not in their opinion the conduct of the directors makes them unfit to be concerned in the management of the company ,it will be for the insolvency service to consider the reports submitted by the administrators and if appropriate institute disqualification action .It is there fore essential that any evidence of misconduct held by shareholders should be brought to the administrators attention so that they can take it into account when reporting to the secretary of state .
There is a distinction to be made between the role of the administrators in reporting on the conduct of the directors and the primary function, which is to seek the best realisation of the assets of a company ,I should mention that in carrying out that function of realising assets, the administrators may wish to carry out investigations which might lead to possible civil recovery action ,as the matter of any insolvency under the 1986 act civil law breaches is one all stock holders could consider ,there fore they should contact the administrators concerning the prospect of a dividend being paid to shareholders and the position regarding any civil recovery .
in addition companies house, as part of it's campaign against fraud, leases with the metropolitan police and the city of London police to provide information to the national fraud bureau, and any allegations of fraud made to companies house would be forwarded to these agencies, if any person has evidence that they have been subjected to fraud they should contact the police
Vince Cable

[rajstar] 12/11/2010 15:31

pls post it here..tks

[3doogle] 12/11/2010 15:23

D Gaser on the iii board posted reply received from Vince Cable regarding his concern of the HML shareholders, worth a read.
3d

[tonyhicken] 05/11/2010 08:32

Im still here waiting for AK/IP to float another company etc etc



regards

[biffus2] 04/11/2010 17:42

so anything new to this thread or has everyone given up or died.

[solomon9] 21/10/2010 19:51

thanks I will keep posting it because that lot GOT WHAT WAS COMING.

Furthermore I do not believe it is churlish because this WAS ALL TOTALLY AVOIDABLE.

For years they buried their heads in the sand and refused to see reason.

When in 2008 the co attempted to sell itself and could not even sell part of a division because there was nothing there of any value, that was blamed on third parties.

Repeatedly they kept referring to "research" and defending the indefensible.

In some respects they WERE COLLABORATORS- they made a litany of apologies and excuses for HML. They kept up the myth that "deals" were around the corner.

They were dangerous buffoons who had not done their homework.

[johnwalton] 21/10/2010 16:36

biffus

the hardest part is actually getting your company listed.

The rest is easy

Look how this company as issued cake rns's for years and raised
millions on the back of them.

I bet if you went throught the accounts all the money paid out
will have filtered right back to the ?

[biffus2] 21/10/2010 16:29

they got 10 million quid from shareholders, and gave nothing back, hmmmm how do i get my company listed on AIM, and pay myself a renumeration package of 135k a year and burn 90k a month??? sounds like its legal..grrrrrrrr

[tonyhicken] 21/10/2010 12:46

next thing we will be reading is that AK/IP have an ipo... crooks pure and simple..


regards

[johnwalton] 21/10/2010 08:55

totally agree kishka but it all runs legal in the uk.

hope the chaps here can prove the directors wrong doings and
get some legal action.

[kishka] 21/10/2010 07:40

yes pookie, but dawnglow was set up purely as a vehicle to transfer the assets of HML into, the directors knew well in advance that they would be letting HML go under...fraud pure and simple

[pookie5] 20/10/2010 19:27

Even legit companies can have multiple Identities. The one I work for, after numerous reorganisations, 2 MBO's, a take over and some other stuff ended up with 20 odd registered at one address. Took the company secretary a year and a half to untangle all that lot and shut down correctly with minimum liability. Most of them had been dead for years

He still uses numerous 4 letter words, some of which I don't understand, when you ask about it

[tiltonboy] 20/10/2010 11:11

no1butler,

Dawnglow would have been an "off the shelf" company, which has now changed it's name to the new corporate identity.

Do you have any further news or information you care to divulge?

[no1butler] 20/10/2010 10:28

Dawnglow has undergone a name change. It is now called :
BAUER LIFE SCIENCES LIMITED
TRAFALGAR HOUSE 261 ALCESTER ROAD SOUTH
KINGS HEATH
BIRMINGHAM
WEST MIDLANDS
B14 6DT
Company No. 07343210

Changed on 12-10-10

[esticfartdidiotes] 19/10/2010 07:27

And you should keep on posting it, Solomon...the signs were all there, some warned of them, and all that was heard in return was "if you are no longer invested, what are you doing around these parts? Move on!"

To say "I told you so" or "It serves them right" is churlish but, really, sometimes you have to wonder at what goes on in the heads of some people.

[milliecake] 16/10/2010 10:34

A link to the Birmingham Post article:



"Shareholders were led to believe they had a valuable portfolio of products and that a lot of money could be made then all of a sudden they are virtually worthless."

True but now it becomes a matter of proving that they deliberately misled the shareholders.

[no1butler] 15/10/2010 08:09

there is an online version which is written by Mr Brown. The paper version by Christina Savvas. Its the same article, obviously one person for paper copy and one for internet.

[tiltonboy] 15/10/2010 07:15

Tony,

The Birmingham Post article was by Christina Savvas.

[tonyhicken] 14/10/2010 23:02

this mr brown should get his facts right about dawnglow as i beleive this company was setup by AK/IP before HML went into administration but correct me if i am wrong........

Former directors agree deal for Henderson Morley assets
Sep 23 2010
by Graeme Brown, Birmingham Post
Add a commentRecommend Two former directors of collapsed biotechnology firm Henderson Morley have bought the assets of the business in a £120,000 deal.

Andrew Knight and Ian Pardoe, previously on the board of the failed Moseley firm, are directors of Dawnglow which has bought the assets from administrators.

The Birmingham Post reported this month that shares were suspended at Henderson Morley, which develops anti-viral drugs, vaccines and biological products, after a funding crisis saw it plunge into administration despite directors ploughing significant sums into the business.

Dawnglow has agreed a deal for £105,000 for the firm's patents and a further £15,000 for laboratory equipment, office equipment and furniture.

The deal also includes 25 per cent of any revenues generated by the patents in the first 12 months and 10 per cent in the following six months.

The medical biotechnology sector in the UK consists of 777 companies with a combined turnover of £4.2 billion and employs more than 24,000 people.

More than 60 per cent of biotechnology companies in the West Midlands turn over more than £1 million.

[tiltonboy] 14/10/2010 16:36

Thanks volvap, I've just got a copy.

[volvap] 14/10/2010 16:03

An article in the Birmingham Post today;"Anger after directors buy assets of collapsed firm".

I have yet to gain access to it.