Infonic Share Discussion Threads

[broomsticks] 03/7/2009 17:41

Power it is.

I have read the above several times, I'm not impressed. If Hornsby turns that company around he will be a genius. imo

[egoi] 03/7/2009 17:22

Power?


As to Mr H, not a s-eatless railway carriage either:

Try again:

[broomsticks] 03/7/2009 17:03

Eegoi,
You cannot be serious,but I am when I ask,

What connects Charlie Chaplin, Croydon and a cannabis factory?

No, it isn't little green men. ;-)

and

Do you mean this David Hornsby?

THE THREE BILLY GOATS GRUFF ANTHOLOGY SMALL BOOK
Mimosa McGraw-Hill

[broomsticks] 30/6/2009 15:09

Hope 'anyone' doesn't mind but I am intrigued. What is the interest here?

[joestraughan] 29/6/2009 15:52

Hi egoi - glad to see you still digging here - I recall the FD and the company secretary resigned before it went into admin? But I don't recall David Hornsby's name - perhaps broomsticks will shed some light on it?

[egoi] 29/6/2009 15:47

Does anyone know if David Hornsby was still a Director when the company went into administration?

[amt] 26/6/2009 14:10

Glad I havent got any shares in Datum.

[egoi] 31/5/2009 14:06

Click on the pdf link to the right 26/5/09, Joint Liquidators' Report..

Brooklands appears to have failed to meet its obligations too, and Infonic is mentioned.

[h101] 10/5/2009 21:28

Thanks Rabbrooks.

Excluding BT (pension fund?) and PacCon, nominees come to about 110 million shares. At about 2p per share that comes to about £2.2 million. Now most people will have higher purchase price. Mine was about 6p. For the sake of argument let's assume everyone bought in at that. So the small shareholders have lost at least £6.6m.

Surely if there was the slightest suspicion of wrongdoing, a sum of that amount would warrant serious investigation. If that sum had been suspected of being fiddled by an employee of a major company then something would be done.

At risk of repeating myself I think SFA is being done, and we are being fooled into thinking it is (broomsticks apart). Maybe one of the BT pension trustees ought to be advised.

[rabbrooks] 08/5/2009 17:19

OOPS Finger slipped

Td Waterhouse Nominees 7964000
Vidacos Nominees 35000000 Approx

[pabloscaramanga] 08/5/2009 16:41

Is anyone aware of any actual legal investigations into the Infonic buy-out? ta

[h101] 07/5/2009 11:11

Rabbrooks, is the report publicly available? It would be interesting to see the size of the shareholdings of the largest shareholders, and who they are.

I'm interested in seeing if we have some large non-PI shareholders who may have the clout to do something.

[broomsticks] 07/5/2009 10:46

You are out of date you Muppet, tell me something that I don't know!!

By the way, there is yet hope in our attempt to regain our investment money from Corpora/Infonic.

I read this morning that a trader has, after a 7 year battle, been awarded £20m in damages, against MF Global formerly Man Financial. That reminds me MT, have you been 'mugged by two private client broker placees' lately?

According to the Creditor's Report on Corpora/Infonic, at one point Thompson and Wajzner were in danger of losing their homes. Oh really, well what about the small investor who may, because of Thompson's/Wajzner's actions or lack of them, have lost his/her home.

This company should have carried the warning. Not one for widows and orphans only for the money lenders in the temple.
aimho, dyor.

[eyemouth] 06/5/2009 15:48

broomsticks you deserve to know that the other bb was set up and is run by an engineer who lives near Aberdeen. He is a radio ham and an amateur photographer of models. That's how they describe themselves, models ha ha.

The same as those on a website that is, quote "saturated with porn"

imo

[rabbrooks] 06/5/2009 15:38

As I find from the administrators report I am the 10th biggest private shareholder /idiot I will be very interested to see some eventual outcome to shareholders benefit . We will do well not to hold our breath unfortunately. The kidology and fantasy of annual/interim and update reports has been personified by Mark Thompson etc.

[amt] 01/5/2009 11:30

I applaud your efforts, it would be good to see justice here and to stop innocent shareholders being ripped off.

[broomsticks] 01/5/2009 10:19

It may be worth seeking a bit more information today as it will soon be forwarded to interested parties and those who are perhaps not interested but whose remit will be to investigate further.

There is quite a lot of data as the story begins in the mid 1990's, that is quite a while before the company's public float on AIM, it was however on another market albeit in the portfolio of another company.

Does anyone know if Orlando Plunkett-Green, son of Alexander Plunkett Green and Mary Quant, is still connected with Infonic.? He represented the company in 2006 at the 19th Bled Conference in Slovenia.
His subject - 'The analysis of Stakeholder Opinion on electronic identity. '





It may take years amt but let's do all that we can to see that justice is done and at least some of our investment monies returned to us.


aimo,dyor

[amt] 01/5/2009 09:01

I recall Infobank / Izodia. A few years ago one of the directors took 30 million or so from the company. After some time he was found guilty of fraud and went to jail. In the last couple of months there have been distributors to shareholders and most of the money was recovered but it took about 6 years.

[borsya] 30/4/2009 14:02

so can anybody tell me is there any chance to get the money ( or part of) back?
Tomorrow IFNC will disappear from the screen, so I just wonder what can be done.
IFNC published on their website (some time ago) that they were tipped as a "stock booming with potential" how sad ..

[joestraughan] 30/4/2009 12:46

So as the business outlook seems to be stabilising, firms may be well advised to think carefully before they turn their backs on AIM and its investors. As well as providing quicker and cheaper access to capital when the financial climate improves, it should not be forgotten that a stock market quotation can be invaluable in making acquisitions of other companies. And in a final comment, Professor Jeynes warns: "It is often said that capital markets have no memory, but I'm afraid that individual fund managers and investors most definitely do!

Clip from Cambridge Evening News.

PS - H101 - interesting article - as you say we need to look at it more closely to see if we can make a case against them.

[broomsticks] 30/4/2009 10:52

Thanks for that H101,

This is a real can of worms, some of the people involved think that they are above the law. Well, some of them may make the Law but they are not above it.

All in my opinion.

[h101] 30/4/2009 08:04

Found this on the MDX board - haven't had time to digest the implications though:

cautiousmoney - 29 Apr'09 - 14:51 - 895 of 949


just found this on iii, have you done this Barry ? according to the poster you could get up to £5 million.

As an insurance broker and shareholder in Meldex, I thought that perhaps for those of you not in the know I would highlight a potential area which should be investigated. A claim on the company's D&O insurance policy.

What is Directors and Officers Liability Insurance?
Directors and Officers Liability Insurance cover protects companies' directors, officers and senior managers against claims arising from their decisions and actions taken whilst managing their business.
What are a Director's Responsibilities?
The duties of a director have been established through statutes, regulations and case law and can be broken down into the following areas:
Duty of Care and Skill
This is a common law duty that requires Directors to act with 'the care an ordinary man would take in the same circumstances on his own behalf' and with the skill expected from someone with his 'particular knowledge and experience'. Where duties are delegated the Director is responsible for ensuring that the person to whom the duties are delegated is sufficiently experienced, reliable and honest.
Fiduciary Duty
Directors must act honestly, in good faith and in the best interest of the company and must ensure that he does not have any conflict of interest.
Statutory Duty
There are many statutes that affect the conduct of Directors and Officers including the Companies Act 1985, Insolvency Act 1986, Financial Services Act 1986, Environmental Protection Act 1990, Health and Safety at Work Act 1974, to name but a few.
How Can Claims Arise?
If a Director is perceived to have failed in any of his duties then a claim could come from any one of a number of third parties including:

• Shareholders
• Creditors
• Government and Regulatory bodies
• Employees
• Auditors
• Liquidators
• Customers
• Suppliers

Is anyone aware if BM has taken legal advice about the possibility of lodging a Derivative Action claim. As an AIM quoted company Meldex had to have this class of insurance in place. The Level of Indemnity would probably be anything from £500k to £5M.
FSMA 2000 (pronounced "fizzma") applies to all public companies. The FSA is granted various powers under the Act to prosecute directors if they are in breach of the Act.
Section 397 of FSMA prohibits the following actions by directors:
a) making a statement, promise or forecast which he knows to be misleading, false or deceptive in a material particular;
b) dishonestly concealing any material facts whether in connection with a statement, promise or forecast made by him or otherwise; or
c) recklessly making (dishonestly or otherwise) a statement, promise or forecast which is misleading, false or deceptive in a material particular
Late in 2005, two UK directors were jailed for breach of s.397, with sentences of 9 months and 18 months, and fines totalling almost half a million pounds. They were found guilty of "recklessly" misleading investors – this is roughly the equivalent of carelessness and does not imply intent.
s.397 applies to all disclosures (or non-disclosures) made by a director. As the prospectuses put together by directors for a raising may be several hundred pages long, the scope for carelessly making an error or omission is higher than for most other types of disclosure. (Most press releases a public company makes on the London Stock Exchange's Regulatory News Service are deliberately only one paragraph long and extremely factual, limiting any scope for misrepresentation.)

cautiousmoney - 29 Apr'09 - 14:56 - 898 of 949


from the same poster, and the response may be worth waiting for.


John
a policy will cover a claim for deception since it would be classed as fraudulent. It will also extend to cover gross negligence if can be proven that one or more of the directors were reckless in their actions.
I have been in touch with Barry and he confirms that he is in discussion with insurers. I have asked if he is seeking to put a Shareholder Derivative action forward or if he is acting on his "own account" as a shareholder. I am waiting for his reply. If an SDA were successful it would benefit the company. This is not an easy action to bring however and to comment more would require a lot more information as to how the management (BOD's) conducted themselves and how shareholder information was imparted.
Paul

[broomsticks] 29/4/2009 18:38

This article is dated January 4.

EDS-led ATLAS Consortium to Deliver Additional Phase of the Defence Information Infrastructure (Future) Contract


UK Ministry of Defence (MOD) Approves an Amendment to the Defence
Information Infrastructure (Future) (DII(F))

PLANO, Texas, Jan. 4 /PRNewswire-FirstCall/ -- The EDS-led ATLAS
Consortium today announced that the Ministry of Defence (MOD) has approved
an amendment to the Defence Information Infrastructure (Future) (DII(F))
contract, confirming ATLAS will deliver DII Increment 2a. This is a further
element of the 10-year contract awarded in March 2005, to modernize and
create a single coherent MOD information infrastructure.
The ATLAS Consortium comprises EDS (NYSE: EDS) as lead contractor, tier
1 partner Fujitsu Services and key sub-contractors General Dynamics, EADS
Defence and Security Systems and LogicaCMG.
The contract amendment enables EDS to increase its previously stated
estimates for revenue from the MOD DII (F) contract over the next eight
years by $1.27 billion.
Increment 2 of the DII programme is comprised of three elements: in the
Deployed Environment (Component Command HQs); at Above Secret
classifications; and also a further tranche of workstations in the office
(Fixed) environment. Increment 2a covers the Fixed element, which will
provide for nearly 44,000 additional User Access Devices and 58,000 User
Accounts in support of the Defence Change Programme and other identified
business priorities.
Editors Notes
The DII (F) project will replace numerous individual information
systems throughout the MOD with a single, more efficient information
infrastructure. It will also enable many of the defense efficiency measures
under the UK Defence Change Programme to be achieved. These include Network
Enabled Capability -- the ability to improve the capability of the armed
forces through a single network of information -- announced in the UK
Defence White Paper.
DII (F) will achieve this by extending into the operational arena,
interfacing with battlespace systems and improving shared information
between headquarters, battlefield support and the front line. DII (F) will
allow greater interoperability between the MOD and its allies, allowing
significantly more effective operational support than currently available.
About The ATLAS Consortium
The ATLAS Consortium is responsible for delivering the Defence
Information Infrastructure (Future) project for the UK Ministry of Defence.
ATLAS is led by EDS, with Fujitsu Services as a Tier 1 partner, General
Dynamics, LogicaCMG and EADS Defence and Security Systems Ltd (Cogent) as
tier 2 partners and IBM and HP as exclusive capability partners. ATLAS was
awarded the contract for increment 1 of DII (F) in March 2005, with a
budget of approximately US$4.0 billion (2.3 billion pounds Sterling).
About EDS
EDS is a leading global technology services company delivering business
solutions to its clients. EDS founded the information technology
outsourcing industry more than 40 years ago. Today, EDS delivers a broad
portfolio of information technology and business process outsourcing
services to clients in the manufacturing, financial services, healthcare,
communications, energy, transportation, and consumer and retail industries
and to governments around the world. Learn more at .
The statements in this news release that are not historical statements,
including statements regarding the amount of new contract values, are
forward- looking statements within the meaning of the federal securities
laws. These statements are subject to numerous risks and uncertainties,
many of which are beyond EDS' control, which could cause actual results to
differ materially from such statements. For information concerning these
risks and uncertainties, see EDS' most recent Form 10-Q. EDS disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
CONTACT:
Travis Jacobsen - EDS U.S. Sarah Roderick - EDS UK
972.797.8751 [phone]
[e-mail] [e-mail]

aimo,dyor