Share Name Share Symbol Market Type Share ISIN Share Description
Etaireia Investments plc NEX:ETIP NEX Ordinary Share GB00B1Z2XX18
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Company Update

26/09/2018 5:29pm

UK Regulatory (RNS & others)


 
TIDMETIP 
 
 
   26 September 2018 
 
   ETAIREIA INVESTMENTS PLC 
 
   ("Etaireia" or the "Company") 
 
   Company Update 
 
   In the announcement published on 19 April 2018, the Company stated that 
it had commenced an independent investigation on transactions undertaken 
by its former chairman Mr Baron Bloom. The Company would like to 
disclose the findings of the investigation. 
 
   The Company engaged Bishop & Sewell LLP to undertake the independent 
report. The following acquisitions were revisited: Whitehouse Business 
Park, Girvan Dev Limited, Pacha Cleator Limited and Ivy Leaf Club. The 
conclusion of the investigation is that these assets and their 
valuations did not show any issues. The consideration paid for these 
acquisitions was in accordance with the valuation reports. 
 
   Following the Ivy Leaf Club acquisition, it was noted that Mr Bloom 
failed to report that he received GBP6,230 of rent due to Etaireia from 
a tenant in respect of that property. As Mr Bloom was due general 
expenses which he failed to claim at the time and is still due 
substantial outstanding salary  the Company will not take action against 
him.. 
 
   The report has made a number of minor procedural recommendations which 
the new Board has adopted. 
 
 
 
   Enquiries: 
 
   Etaireia Investments Plc 
 
   Tel:  07870 200470 
 
   Myles Cunliffe 
 
 
 
   NEX EXCHANGE CORPORATE ADVISER: 
 
   Alexander David Securities Limited 
 
   David Scott --Corporate Finance 
 
   James Dewhurst -- Corporate Broking 
 
   Telephone: +44 (0) 20 7448 9820 
 
   http://www.ad-securities.com 
 
   49 Queen Victoria Street, London EC4N 4SA 
 
 
 
 

(END) Dow Jones Newswires

September 26, 2018 12:29 ET (16:29 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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