Paragon Share Discussion Threads

[cd27idw] 25/10/2019 15:59

company wound up and now worthless, according to my ii corporate actions.

[devil20] 04/7/2019 14:19

Never did hear anymore from them did we!!

[ununseptium] 14/10/2017 18:33

Thanks a lot Targata. Will try that. Contacted the Jersey Register people but they were not interested and of no help at all.I once saw an official list of worthless shares approved by the Revenue but PAR was not on it!

[targatarga] 09/10/2017 11:43

UNSEPTIUM - if you ask the inland revenue and tell them you brought an obvious dud. Explain about paragon it's dodgy history and they'll probably agree. imho

[ununseptium] 27/9/2017 19:50

Is there some formality that needs to be completed before the losses from PAR can be offset against other capital gains? Will HMRC accept that these shares are now worthless?

[dannyheca] 11/6/2017 01:08

Wally. Youve done nothing!

We have recently been in contact with the authorities. Proper! We put some serious heat on the company. Myself, john and ian. We offered you all the opportunity to join us in writing to the Jersey Registry and the Jersey Financial Crimes team. That was your opportunity!! but you were nowhere to be seen. Nor was Mike, or all the rest of you d1cks on here.....


It was us who forced the company to release the recent Update.

We have lost out money! Yes, they lied, and have conned and cheated us. They are con men and liars.

But at least some of us put up a bit of a fight..

[wallyjumblat] 10/6/2017 04:03

I am still here and another one from the Noventa days that has been shafted for about 20K. I tried to pursue the BOD years ago but never even got a reply from any of them. This is typical of AIM companies to string everything out until people just walk away.
Unfortunately the system allows these lowlifes to do this and go unpunished. I was actually going to knock on their doors but have moved to another country, if I still lived in the UK I would paying them a visit, especially now that they have carried out what I expected them to do.
I am open to suggestions?

[dannyheca] 07/6/2017 08:16

We shall see Nolan3

[3nolan] 06/6/2017 19:17

They have changed name from Paragon resources plc to paragon resources RIP

[dannyheca] 06/6/2017 18:20

Website is gone again... ?

How can they communicate with us without the website?

[herringsarered] 10/5/2017 15:35

Interesting timing of the communication - the day before the company's web domain expires (details below) and their website disappears. Is it coincidence? Do they have the funds to renew it? Do they even know it's expired? Is it all a grand fraud?


DOMAIN INFORMATION
Domain: paragon-resources.com
Registrar: INTERNET DOMAIN SERVICE BS CORP
Registration Date: 2013-05-10
Expiration Date: 2017-05-10
Updated Date: 2016-04-20
Status: clientTransferProhibited
REGISTRANT CONTACT
Name: Simon Hunt
Organization: Paragon Resources plc
Street: Third Floor, Mielles House, La Rue des Mielles
City: St Helier
Postal Code: JE2 3QD
Country: JE
Phone: [phone]
Email: [e-mail]

[targatarga] 10/5/2017 12:48

And it shows me that all along from the Noventa days to now, it was a way of getting money from gullible investors. Original investors in Noventa were given the run around.Just look at the string of dodgy announcements! imho

[herringsarered] 10/5/2017 11:21

Paragon Resources plc
(“Paragon̶1; or the “Company”;)
9 May 2017
Company Update
The Company hereby provides an update to Shareholders concerning the affairs of the Company since 10 March 2016, the date of the Company’s last update.
As Shareholders will be aware, the Company has been pursuing an investment in the Ambato Project, a potentially high grade rare earth elements project in Madagascar. As previously announced, the Company’s ability to complete the acquisition of the Ambato Project is dependent on the Company receiving new funding. In May 2015, the Company received binding commitments for £1.5m for this investment from two investors (the ‘Core Funding’). Further commitments were received in August 2015 for an additional £0.5m (the ‘Additional Funding’), which was conditional on the Core Funding being received and the re-listing of the Company on the AIM Market of the London Stock Exchange (‘AIM’), which was to be completed by 28 August 2015. The Core Funding was not received on time to complete the re-listing and the Additional Funding commitments lapsed.
Despite daily communications with the investors who have committed the Core Funding, and the existence of legally binding subscription agreements (‘Subscription Agreements’) for the Core Funding, these investors have not yet complied with their obligations under the Subscription Agreements. While the Company remains optimistic that these investors will comply with their obligations and there is a reasonable expectation that they will do so, the Board has consulted lawyers concerning the basis for an action for breach of contract against these investors. Whilst this has been confirmed, the Company’s ability to pursue any legal claim is subject to raising sufficient litigation funding.
In the event that the Company is unable to secure the Core Funding, or obtain litigation funding to pursue legal action against these investors, then in all likelihood the Company would be wound up. Based on the Company’s financial position at the date of this update, no amounts would be available for distribution to the Company’s Shareholders.
The Board understands that this update does not provide the satisfactory news that Shareholders have no doubt been hoping for, which is in part the reason for the time between this and the previous update announcement while the Board has worked constantly on trying to get the Core Investment drawn down. This effort is continuing without let up.
The Board would like to reiterate that all communication with Shareholders must continue to be through fully approved announcements and Shareholder documentation and/or Shareholder meetings. This is required to ensure that all Shareholders are provided with the same information, and therefore no direct contact to the Company whether by telephone, text or email will be responded to.
Further announcements will be made as soon as there is relevant news.

[herringsarered] 09/5/2017 15:10

Update now posted on Paragon Resources website.
It is not good reading unfortunately.

[dannyheca] 08/5/2017 15:22

John

Good to hear from you on this board and glad you put you points forward to the authorities.

Where are all of the other shareholders, ie, mike, courgar, wally

Its at times like these when shareholders are taking action, that we need everyone to get involved.... what were those lyrics i once heard,
"everyman must stand behind, the men behind the wire"

We might have been defeated by our crooked management1 but at least for crying out loud, send in an email of complaint if you have lost money in this company. Three of us have done so including John..

[john6185] 02/5/2017 19:38

Hi All. This share was a nightmare for me, and i sold out at a £100k+ loss after the Noventa asset auction failed to attract a buyer, and the assets were taken by Richmond Capital. I thought the fact that they defaulted within 2 month after the refinancing in which all the assets suddenly became secured under the loan, was very suspicious.

But the reality is that I couldn't prove the criminal conspiracy which I suspected, and that these weren't just coincidences. Thus at that point there was no basis for legal recourse.

I wasn't invested during the later period when the whole dodegy agrobusiness transactions took place, so I can't really comment on that period.

It is however very clear that the directors failed in their duty to make annual returns and to properly notify shareholders. Their claim that they had become a private company following the de-listing does not appear to be true. But whether this was a matter of incompetence rather than fraud is unclear to me.

I'll contact Alison de Breton, but I'm not sure whether there will be any financial benefit to shareholders. The director would have liability, if they can be proven to have acted dishonestly, but I'm not sure this would be easy to prove in court.

[dannyheca] 02/5/2017 16:35

Tinyholding. No refernce, they will know!

. Just drop Alison an email outlining what YOU have experienced as a shareholder of "Paragon Resources Plc"

[dannyheca] 02/5/2017 16:30

Very good gentlemen...... !

[pljsussex] 02/5/2017 12:30

I have had a response from Howard Tobias, Director of the Criminal Division and he said he was going to report it to the Jersey Financial Services Commission and Police for investigation. As Dannyheca says if more shareholders do the same then perhaps we will get some answers to what has happened to our investment.

[pljsussex] 02/5/2017 11:32

Thanks for highlighting this Dannyheca, I am going to email this Alison Le Breton in Jersey.

[tinyholding] 02/5/2017 10:15

Hi,

I have a tiny tiny shareholding, but happy to add pressures, is there a case reference that i need to quote?

[dannyheca] 30/4/2017 14:07

Alison Le Breton.

A.lebreton2 @ gov.je

sectetary for attorney general of Jersey.

More of you who highlight our dilemma the better.

[dannyheca] 29/4/2017 17:27

Yes we are in contact with the Attotrney Generals office in Jersey. Be good to have even one or two more sharehodeels getting involved.... reply if youceoulf liie the direct contactct information.

[dannyheca] 26/4/2017 23:53

Mhw28865

Then youl find out, """"What News""""


Your reading the boards and keeping an eye on here to see whats bappening. Your a shareholder. But you wont do anything to help the cause. Its 14 months withput news.

We are in talks with the Jersey Registry and with the Attorney General of Jersey. If you want to get invoved your free to join myself Ian and john!!


Thats """"""What News"""''