Prestbury Share Discussion Threads

[wild bill] 05/2/2021 17:35

I haven't read the thread so excuse what might be a stupid question, I have two old share certificates with 2,040 shares total, is there anyway I'm going to get anything back from this investment? Any advice or guidance as to what to do with them much appreciated - thanks.

[hdb] 26/1/2009 19:32

I think we know now why Francis Maude wanted to change the directors

[roorontev] 19/12/2008 08:45

We could all have a whip round here....I'll start it off with 100 Franks.....;-))

[latestarter] 18/12/2008 19:30

wonder how the 2 directors will lay their hands on 850k?

[roorontev] 18/12/2008 08:34

Anyone going to the Wake on the 18th?.....


RNS Number : 3547K
Prestbury Holdings PLC
18 December 2008


18 December 2008

Prestbury Holdings PLC
("Prestbury" or "the Company")

Further Re. Transfer of appointed representatives and trading update

On 25 September 2008, the Company announced that its wholly-owned subsidiary, Prestbury
Financial Limited ("PFL"), had completed the
agreement to consent to the transfer up to 80 appointed representatives affiliated with PFL
("ARs") to Personal Touch Financial Services
Limited ("PTFSL").

Subsequently, PFL has been seeking to process the transfer of the ARs. However, PFL has
encountered problems in transferring a number of
the ARs who have either decided to transfer to a different company or who have not reached
acceptable commercial terms directly with PTFSL.
Furthermore, certain life companies have made claims for clawback commissions on PFL in
respect of policies written by ARs which have now
been cancelled. This has had the effect of the life companies withholding payment of
commissions which were expected to be received by PFL.
In addition, PFL is owed approximately £360,000 by ARs who have been unable in the present
climate to pay PFL. These matters have had a
dramatic adverse effect on PFL's cashflow. At a court hearing held yesterday, a winding up
petition by a creditor of PFL was granted and The
Official Receiver was appointed to PFL.

Financial position of the Company

At 31 December 2007, the Company's principal asset was its investment in PFL. The Company
is also owed £0.85 million by Prestbury
Investment Management Limited, a sub-prime packaging specialist company which has been badly
affected by the withdrawal of providers from
the credit market owned and controlled by Lee Birkett and S.J. Keenan, which is fully provided
against in the Company's books. The Company
has no cash resources of its own and is unable to publish the interim results for the six
months ended 30 June 2008 and satisfy the
Company's nominated adviser as to its financial position and its appropriateness to remain on
AIM.

John East & Partners Limited has advised the Company that it has resigned as Nominated
Adviser to the Company with immediate effect.

Trading in the Company's shares will remain suspended until the appointment of a
replacement nominated adviser. If no such appointment
is made by 18 January 2009, trading of the Company's shares on AIM will be cancelled. If a
nominated adviser is appointed by 18 January
2009, trading in the Company's shares will remain suspended until the announcement of the
interim results for the six month period to 30
June 2008 and clarification of the Company's financial position. If the suspension of trading
is not lifted by 10 March 2009, then trading
of the Company's shares on AIM will be cancelled.

Further enquiries

Prestbury Holdings plc Telephone

[roorontev] 26/11/2008 16:11

Gosh No posts for 10 weeks...Just hope there's enough cash left to pay the Directors wages......(Yes tongue is firmly in cheek)....;-)))


RNS Number : 0136J Prestbury Holdings PLC 26 November 2008

26 November 2008

Prestbury Holdings PLC

("Prestbury" or "the Company")

Director Resignation

The Company announces that Kevin Sample, Non-Executive Director, has resigned from the board of Prestbury, with immediate effect.

Further enquiries:

Prestbury Holdings plc Lee Birkett (Chief Executive) Tel: [phone]

[mrsasal490] 09/9/2008 18:20

Down n out now with 80 AR's gone .......

[themollusc] 14/8/2008 11:02

It's all I could think to say.

[mrsasal490] 11/8/2008 12:10

Prestbury chief executive Lee Birkett has sent a rallying call to shareholders to vote to retain his position, ahead of an extraordinary general meeting later this month.


A letter from Birkett has been circulated to shareholders in response to an unseen letter from shareholders Armadillo Investments and Arlington Special Situations Fund.

Armadillo and Arlington, who together hold in excess of 22% of Prestbury's shares, called the EGM to vote on whether Birkett and finance director Lynne Birkett should be removed as directors of the company.

In his letter to shareholders, Birkett reiterates that major shareholders including former director Stephen Keenan, sales director Kevin Sample and compliance director Maggie Cresswell all plan to vote against the resolution on August 20.

He defends the role of subsidiary company Prestbury Investment Management, saying that rather than posing a conflict of interest, the PIM relationship has been of significant benefit to the Prestbury group as a whole.

Birkett says that without the transfer of PIM out of the plc business, the company would have continued running at a loss which in July 2005 amounted to £50,000 a month.

He says: "I am at a loss as to who the shareholders would propose to run the business and take on the challenging associated Financial Services Authority controlling functions and personal responsibilities if their resolution was to be successful.

"I can confirm that your non executives, as part time, are not in a position to carry out these full time controlling function duties which are required to run your business. This has lead to our objection of their completely unworkable proposal in this ever-changing regulatory environment of the company being controlled by part-time directors."

Birkett adds: "Your executives have just spent the last two weeks touring the country rallying the adviser base and their loyalty to us is humbling. Prestbury is nothing without its adviser base and I apologise to them that their network has had to endure this public requisition."

"I must also personally apologise to you as your chief executive officer. The deliverance of separate representations would make anybody understandably nervous, and I give you my personal assurance to fight on to deliver shareholder value for all."

[baggywrinkle] 06/8/2008 08:54

EGM is to held on:
20th August at 1000AM (or as soon as AGM concluded or adjourned)
at Barrington House, Heyes Lane, Alderley Edge, Ches SK9-7LA

[mrsasal490] 04/8/2008 11:45

What date is the EGM and where ??

[mrsasal490] 29/7/2008 11:46

At last we may be getting somewhere now, watchout behind you Mr Birkett

[roorontev] 01/7/2008 09:39

I think she's being "Doing" the books for years and there lies the problem...LMAO.....;-)))

[mrsasal490] 27/6/2008 13:11

Prestbury Holdings has been suspended from the Alternative Investment Market having breached its six month limit on firms filing their annual results.

The firm's results had been due on December 31 2007 and under AIM rules it had six months to formally publish them on the LSE.

That deadline was this coming Monday, June 30 2008. With Prestbury still not in a position to publish 2007 results, the firm's board informed AIM that it was set to breach AIM's rules leading to a suspension of its shares.

Lee Birkett, chief executive of Prestbury Holdings, says: "The executives, in line with their normal duties, requested the suspension of shares.

"We haven't breached company law only AIM rules. We will look to resolve matters over the coming weeks."

[still waiting] 27/6/2008 11:44

looks like they couln't agree on going concern basis!!

[wormcatcher] 12/6/2008 16:54

In out shake it all about

[roorontev] 04/6/2008 09:40

"Keenan is leaving" hardly sounds like a office romance gone wrong does it?....lol....;-))

ps...oH AND Ive seen Lee Birkett wife,nobody is THAT BRAVE....