Paros Share Discussion Threads

[gangus23] 29/5/2011 21:54

Christh/Tobyjug, thanks for your replies, could we see news before July?

I would have thought that worldlink would not want it to go to trial as by the way I have read things they would not have a leg to stand on and it could cost them more in the long run?

[tobyjug] 28/5/2011 10:34

both parties have been ordered to mediate by the 14th june 11. or it goes to final trial soon after the 18th nov 11.

[christh] 28/5/2011 09:10

As I have heard we expect a settlement out of court.
The relisting will be done as soon as the cash is refunded by the ........ in
Wordlink.
Expect also a reverse takeover bid by another company.
Fingers xxxxx the company will have a future.

[gangus23] 28/5/2011 00:42

Some highights of the report - can this return from the ashes in 2011/12?

On 21 December 2010 a claim was filed in the Queen's Bench Division, Royal Courts of Justice against Worldlink for £719,806.99 owing as a debt under the heads of terms dated 25 February 2009 and in addition for damages for Worldlink's breach of the heads of terms.

ParOS is not in and will not be in administration as a result of the CVA. The Company continues trading under the control of its directors, operating as a going concern, striving to recover the Company's professional fees and costs from Worldlink and pursuing its investing strategy.

The board is confident that the continuing CVA will provide the Company
with sufficient cash resources to enable it to continue as a going concern for at least the next eighteen months.

Notice is hereby given that the Annual General Meeting of the Company will be held at 14:30 p.m. on 20 June 2011

[unconscious] 29/7/2010 16:23

Nice one christh.

It may take a long time, but hopefully we will see PARO return to AIM in one guise or another.

[waleriuszwatrobka] 29/7/2010 08:27

...thanks for info, christh, hope PARO will come back and let us get our money back with a nice profit, so fingers xxd ;-)

[christh] 29/7/2010 05:57

I spoke to the chairman and now Wordlink want to speak to Paros as the Paros lawyers are pressing them.
Paros has invested more than £600,000 in the proposed merger/reversal so they are claiming it back plus costs.
Paros still receive royalties from their old patents.

So watch this space as the battle goes on and hopefully will see it back in AIM with a differebt name.

[waleriuszwatrobka] 14/5/2010 08:44

[e-mail]

[waleriuszwatrobka] 08/4/2010 11:11

ENGLAND UNVEIL NEW SPONSORS...

[waleriuszwatrobka] 14/2/2010 12:20

...does it mean there is still some live in this dog in the end ?!?

[unconscious] 13/2/2010 12:33

This is an extract from a letter I have just received from my broker.
I believe most of the information has already been discussed on this board, but there may be one or two details that add to our understanding of the present situation.

PAROS PLC: Company Voluntary Arrangement.

We are writing to you as a holder of shares in the above company.

The company sold its trading subsidiary in March 2008 and announced its intention to seek investments in the engineering sector in the UK, Europe, and North America. In April 2009 ParOS announced it had agreed to acquire the business of Worldlink Group PLc. As the company had not completed the acquisition by 30 March 2009 its shares were suspended from trading on the Alternative Investment Market (AIM) and have since been delisted.

Following a petition from a creditor to wind up the company, ParOS proposed a Company voluntary Arrangement (CVA) to reach an agreement with its creditors as to how, and in what proportion, they should be paid. The aim of the CVA was to 'restore the viability of the company's business model and to assist in return to profitability and an aim listing.' (Source: Letter from Royce Peeling Green Limited; Business Recovery & Insolvency)

The CVA has now been approved. ParOS intends to seek to recover certain fees and costs in relation to its proposed acquisition of Worldlink Group which has not been completed.

[waleriuszwatrobka] 11/1/2010 23:03

...didn't expect such a course of actions, thanks christh ;-)

[gangus23] 11/1/2010 18:28

Thanks christh for posting the info you have received from paros.

Lets see what happens in the coming weeks before passing any more comments about the company being dead!!

The documents are on the website here:

If the cva is succesful then the shares will be re-listed

Taken from the cva document

The objectives of the proposed CVA are to restore the viability of the Company's business model
and to assist in a return to profitability and an AIM listing

ParOS is not in and will not be in administration as a result of commencing the CVA process

worldlink owe around £740k to paros

If the cva is succesful then paros can pay its creditors 100%

There is still life in this one yet.

[waleriuszwatrobka] 11/1/2010 09:10

...does it mean that there is still some life in this dog and shareholders will have something back if Paros will manage to get some money from Worldlink ?

[christh] 11/1/2010 00:11

JakNife - 10 Jan'10 - 22:31 - 1887 of 1889

please,stop spreading your ill informed postings.

Wordlink owes a gret deal of money and is all signed up
on official contract signed by solicitors and will either
compensate ParoS heavily or honour the merger!

I am sorry but your totally ignorant.

Read official email sent.

As the chairman states these documents will be uploaded
on the official website in due course so you can verify
my postings and you perhaps become a prospective future shareholder.
If not then let me know!!!!!!!!

[christh] 10/1/2010 23:47

Company No. 5069439
THE COMPANIES ACT 1985 PUBLIC LIMITED COMPANY RESOLUTIONS
OF ParOS PLC (passed on 2 December 2009)

The following ordinary resolutions were passed at the Annual General Meeting of the Company duly convened and held at the offices of Horwath Clark Whitehill LLP, Arkwright House, Parsonage Gardens, Manchester M3 2HP at 15.00 p.m.

Resolution 1: To receive and adopt the Financial Statements of the Company for the year ended 31 December 2008 together with the Reports of the Directors and Auditors thereon.

Resolution 2: To re-elect P McHugh as a Director in accordance with the Company's Articles of Association.

Resolution 3: To re-elect J King as a Director in accordance with the Company's Articles of Association.

Resolution 4: To re-appoint Horwath Clark Whitehill LLP as auditors of the Company and to authorise the Directors to determine their remuneration.

Resolution 5: That, in substitution for any existing and unexercised authorities, the Directors be and they are hereby generally and unconditionally authorised for the purposes of section 551 of the Companies Act 2006 ("the Act") to exercise all the powers of the Company to allot shares or to grant rights to subscribe for or to convert any security into shares up to the aggregate nominal value of £157,650 being one-third of the aggregate nominal value of the issued share capital with the authorities conferred by this resolution to expire at the conclusion of the next annual general meeting of the Company (unless previously renewed, varied or revoked by the Company in general meeting), provided that the Company may before such expiry make an offer or agreement which would or might require it to allot shares or to grant rights to subscribers for or to convert any such security into shares to be allotted after such expiry and the Directors may allot shares or to grant rights to subscribers for or to convert any security into shares in pursuance of such offer or agreement notwithstanding that the authority conferred hereby has expired.

[christh] 10/1/2010 23:35

email received from chairman of ParoS

Dear Mr .........,

Thank you for getting in touch last week. I attach as promised some useful materials that should bring you up to date with ParOS plc.

I will be posting these on the website in the coming days but wanted you to get them directly as most shareholders will have already received them and because your shares are in a Nominee Account your Nominee will have received them not you. The attached documents are;

i.The 2008 Annual Report and Accounts now approved by shareholders at the AGM on 2 December and filed at Companies House.

ii.Resolutions passed at the AGM on 2 December.

iii.The CVA details now passed by creditors and shareholders of ParOS plc at meetings on 2 December.

I am sorry you encountered such rudeness from Worldlink when you called me in the office. Please use my mobile number if you wish to get in touch.

Yours ever
Patrick McHugh

[gangus23] 10/1/2010 10:31

If what christh stated previously that there has been a merger then something might come out of it considering worldlink is now listing on the frankfurt exchange.