Amd Commo Exagr Discussion Threads

[loverat] 18/10/2009 09:31

One thing I would say is correct as indicated in some of the above posts. I do not honestly think that Allnutt had a clue as far as what was going on with the running of the company. I expect it only dawned on him when he was appointed temporary CEO.

No excuse though and let us not forgot what happened regarding CEG and COMG.

[loverat] 18/10/2009 08:51

Therefore I would guess that it will not just be the general one line ramps over the five year period that will be looked at but special attention may be paid to the ones which have been made close to or between major events such as acquisitions, director appointments and suspension. Like these for example.

tenniselbow - 8 Mar'08 - 15:20 - 8576 of 8797
Feel this share is being talked down, are the board going to make a Bid !!!

tenniselbow - 10 Mar'08 - 08:51 - 8590 of 8797
This looks like a good share, with plenty of cash, and now looking at UK investments, DRM also looks like a good move

tenniselbow - 2 Apr'08 - 07:23 - 8630 of 8797
time to buy I think

[loverat] 18/10/2009 08:24

The poster 'Letsgotowork' does not appear to have posted anywhere else but his posts particularly in relation to the gaps between the end of a sentance and a question mark or exclamation mark are strikingly similar to the confirmed ID's of Allnutt. Another feature of his posts is that he often uses question marks when not needed and does not not use them when needed.

[loverat] 18/10/2009 08:13

And also some posters keen to step in and defend Allnutt.......


nickcduk - 8 Jun'08 - 12:36 - 8720 of 8797
George Allnutt is not a newcomer to LDC. He has been on the board with SL in a number of LDC investee companies that have mysteriously disappeared. All smoke and mirrors. Need someone truly independent to see what SL and his cronies have been doing with the companies money.

LETSGOTOWORK - 20 Oct'08 - 11:44 - 8776 of 8797
Afternoon,

I have just had a phone conversation with George Allnutt.
Allnutt was quick to rubbish the rumours of LDC going bust and informed me that
was far from the case. He confirmed to me that the new CEO, Keith Negal, was making extremely positive progress with his
review of the business and that he had unearthed a
"number of matters that required clarification" !! I tried to push Allnutt on this subject but he refused to comment further for legal reasons.
Allnutt appeared to be very positive and upbeat regarding the appointment of Negal and the future of LDC. Apparently, there are to be some strong additions to the board in the very near future combined
with some exciting plans to get LDC back onto peoples radar. He finsihed by commenting that he is determined to get some value back to the shareholder after the Littlewood era.
Regards

nickcduk - 20 Oct'08 - 12:12 - 8777 of 8797
Allnutt is no better than Littlewood. They are bosom buddies who are both extremely complicit in screwing LDC shareholders over. Surprised Littlewood has the gall to still be making public comments about investments. Would have thought he would be hiding firmly under a stone.

LETSGOTOWORK - 20 Oct'08 - 12:56 - 8779 of 8797
nickcduk, Allnutt appears to have a significant stake in LDC, would be surprised if he was happy with the share price or the companies current performance. I would also disagree with the bosom buddies phrase
between himself and Littlewood. He didn't make any comment regarding Littlewood but in my opinion there appears to be little love
loss, but that's purely my opinion not fact.
I'm not sure what has happend between Littlewood and the others but Allnutt seemed relieved and upbeat with the appointment of Negal as the new CEO.
As mentioned in my previous post, it can only be positive for all involved if the new CEO is shaking the company up and leaving no stone unturned.
I'm forever the optomist and believe people should be given time to turn a negative situation into a positive.Lets hope Negal can turn things around for the benefit of all.

Regards

nickcduk - 20 Oct'08 - 13:18 - 8781 of 8797
Letsgotowork - Allnut was on the board with Littlewood in plenty of LDC investments. Most of them have been suspended and disappeared without trace.

LETSGOTOWORK - 20 Oct'08 - 14:50 - 8782 of 8797
nickcduk, I agree, Allnutt has been involved but to want extent was he involved in the overall decision making as a non exec ?? Don't get me wrong, I'm not singing Allnutts praises here. However, we need to remember that Littlewood didn't get the backing he wanted by investors / the city, threw his
toys out of his pram and resigned. As far as I'm concerened the buck stopped at the top, and that was Littlewood. All I'm saying is(without wishing to repeat myself)is that Allnutt has remained on board (no pun intended), has issued a statement saying he wants to get to the botttom of the
companies activities under Littlewood, has appointed a new CEO to do just that. In my opinion, Negal needs to be given time to try and sort out this company, discover whats happend and come up with a plan to get us out. Let's watch this space..........


tenniselbow - 20 Oct'08 - 17:53 - 8784 of 8797
I think the FSA have enough on their plates! but it's interesting that Allnut was removed from the board of China bio foods when it is alleged he refused to sign off their accounts and had reservations about their operations. I don't think he's 'in bed' with Littlewood and I think the next 3 months will
prove this as there appears to be action going on. Lets see what the calibre of the new directors apparently being brought in by allnutt, are like.


LETSGOTOWORK - 21 Oct'08 - 09:25 - 8785 of 8797
Morning, thanks for the post Irene. I honestly don't know the answers to your questions, however, I got straight through to George Allnutt yesterday and he was happy to answer my questions where he could. I would suggest you give him a call ?? In my opinion, he can't release a statement, and
probably doesn't wish to, until he has some solid facts to hand. It should also be down to the CEO to release such a statement. However, I would rather Negal concentrate on his "exploratory" work. Tennis, I agree with your comments, why was Allnutt removed from the board ??

Was Allnutt not playing ball ?? Would he not fall into line ??
Doesn't sound like a "bosom buddy" of Littlewoods to me ??
Regards

[loverat] 18/10/2009 08:04

tenniselbow - 10 Mar'08 - 08:51 - 8590 of 8797
This looks like a good share, with plenty of cash, and now looking at UK investments, DRM also looks like a good move

tenniselbow - 2 Apr'08 - 07:23 - 8630 of 8797
time to buy I think

After a further spot of ramping suspension followed and a debate over Allnutt and how close his relationship was with Littlewood.

[loverat] 18/10/2009 08:00

And by cross referencing user 'tenniselbow' with other boards and associations it is highly probable it is Allnutt.

The unusual reaction to Winterfun's post would also suggest that. After all why would anyone particularly think the post was by 'painting'



tenniselbow - 30 May'08 - 08:12 - 8705 of 8797

Does Painting return ( Winterfun )

[loverat] 18/10/2009 07:56

winterfun - 8 May'08 - 06:27 - 8667 of 8797
with the fall in the value of their PLUS and other listed stock (EPE disappeared, China Education suspended), the last nav is very out of date. would expect big losses for 2007 accounts, which would explain the continued selling

winterfun - 30 May'08 - 01:29 - 8704 of 8797
the company is run by someone in Cornwall (their new global HQ!) who seems to have no experience in China, private equity, fund managment, banking, or anything else relevant to what LDC is supposed to be doing. They've announced the closure of their offices in China, so presumably the staff that had any idea of how to run the business have disappeared, so who is going to manage their assets and generate any income? No surprise people heading for the exit. What institutional investor is going to back this?


Was it Simon Littlewood taking a swipe at the remaining management?

[loverat] 18/10/2009 07:54

And then over the next few weeks/months a few more posters appeared:

Winterfun
TennisElbow
Letsgotowork

[loverat] 18/10/2009 07:50

And a new appointment....

London Asia Capital PLC
09 April 2008


London Asia Capital Plc ('London Asia' or the 'Company')

Board Changes

London Asia Capital Plc (LDC), the Asian focused investment company, is pleased
to announce the appointment of George Patrick Allnutt, aged 62, currently a non
executive Director, as acting Managing Director of London Asia pending the
appointment of a new executive Director. Mr. Allnutt's appointment is effective
from 4th April 2008.

As part of planned board changes, the Company also announces today the
retirement of Sir David Brewer as a non executive Director, effective from 4th
April 2008. Another appointment will be made and announced in due course.

George Allnutt has started and owned a number of successful private businesses,
as well as being a past or present director of a number of AIM listed and PLUS
listed companies. He has particular experience of guiding companies through
periods of change and development, often in challenging circumstances.

Mr. Allnutt currently owns 428,920 ordinary shares in the Company. George
Allnutt is also a director and shareholder of Photo Distribution Limited and
Penhale Estates Limited, which hold 4,016,680 and 500,000 ordinary shares
respectively in the Company.

Under AIM Rule 17, there are no subsequent changes to the details already
disclosed pursuant to sub-paragraphs (iii) to (viii) inclusive of paragraph (g)
of Schedule Two.

George Allnutt commented: 'I share the disappointment of shareholders at the
recent performance of the Company's share price and the slow pace of selling
investments which remains the board's policy. I will begin by reviewing all
investee companies in order to confirm their valuation and the best exit route
to realise value for shareholders. I would also like to thank Sir David Brewer
for his service to the Company and wish him well in his future activities.'

Enquiries:

London Asia Capital:
George Allnutt Tel: [phone]

Seymour Pierce Limited:
Matt Thomas Tel: [phone]

[loverat] 18/10/2009 07:48

The great shorting master then came and told us:

Simon Cawkwell - 6 Mar'08 - 11:28 - 8557 of 8797

Gentlemen,

LDC looks to me to be a complete wash out.
Simon Cawkwell

[loverat] 18/10/2009 07:47

Still, things continued to decline...

Littlewood eventually left and......

'painting' also gave us his farewell speech to pursue other opportunities.....

painting - 4 Feb'08 - 09:18 - 8519 of 8797
off elsewhere - fantastic market for making money, and this share I expect to be a little slow for a while given all the other opprtunties out there.
re info on LDC - if you read what the company puts out, 90% of the questions on the bb could be answered. For other info, just email the co - they normally respond pretty quickly when I ask them something.

[loverat] 18/10/2009 07:31

Meanwhile 'painting' as far as we are aware used only one....

painting - 26 May'07 - 13:45 - 7804 of 8797
If you read the PBM announcement correctly, I think you'll find LDC had 150k shares, worth at listing STG30k, which is no doubt the fee LDC received for listing it, rather than an investment, as the
announcement says the shares "were issued in conjunction with the Ofex Admission."

Re directorships - I think you'll find that LDC and LCP have a stated investment policy of always
talking board seats on their investments, which is standard practice in PE investment.

You are obviously an expert on listing businesses in Singapore having spent 5 minutes looking at the marketing literature on their web page - your knowledge is clearly vastly grater than the 15 years I have spent in Asia listing busineses on Asian markets, and next time I have a float, will certainly be
seeking your advice. Do you seriously believe the appication fee is the largest cost - do you have an idea (stupid question, as you clearly have no idea what you are talking about)how much lawyers, corporate finance advisors, sponsors, underwriters and accountants charge?

[loverat] 18/10/2009 07:29

For the next 5 years Allnutt posted regular one line ramps under at least three names...




My Way - 27 May'04 - 15:08 - 1539 of 8797

The overhang in the shares will be out the way in the next 10 days. May is always a drift time for shares. the company must have a few million in the bank can raise money at any time. how many other companies can say that. in for the long term and should reach 50p by end of year. first IPO in
august?

A0456717 - 11 Nov'04 - 09:03 - 2908 of 8797
this will be the share of 2005

cougar6 - 19 Jul'07 - 15:49 - 7972 of 8797
sorry to see your blind slapdash

[loverat] 18/10/2009 07:19

And once a director cougar6 continued posting.

cougar6 - 26 Sep'02 - 10:04 - 20 of 56

The company is under new direction and they are only looking at cash generating companies and you can ring the directors for information and they will respond. all those who want to sell will have done so by the end of the week the mm are short of stock or holding as they see profit from this share. the directoirs cannot buy as the accounts are due ?


And interestingly after SL's appointment 'painting' all of a sudden became bullish and as we all know not a negative word could be said about the company.

[loverat] 18/10/2009 07:12

Anyway, Littlewood built up his stake to 25% and undeterred by the friendly advice cougar6 also reached a similar amount and both joined the board.

[loverat] 18/10/2009 07:10

Yes - you guessed...

Yes according to him he thought the company was a pile of pants. Our balance sheet expert and financial genius was perhaps giving the '1% cat' a piece of friendly advice. After all a bulletin board is all about sharing our knowledge and giving friendly advice.


painting - 26 Nov'01 - 11:21 - 606 of 718


Looks like Agnes is the only one that took a proper look at the accounts - they have no cash & £633k of creditors falling due within 12 months. They have some listed investments, but presumably mainly AIM stocks, where they not only may be subject to lock-in's, but as soon as they try to sell the stock is likely to fall in value substantially. How are these guys going to pay the bills? Their unlisted stocks have no value in the current market, & are likely to have fallen further since May
Value of a shell in the current market - negative - lots of shells, little chance of raising fresh cash. On-going compliance costs & fees payable cripling, so usually cheaper to list a new company than take someone elses liabilities

Good luck if you're buying


painting - 27 Nov'01 - 00:21 - 613 of 718


fresh money - run a liitle calculation of what happens to the net assets per share if the co raises fresh money at the current share price - the bigger the amount raised, the smaller the difference between net assets & share price. Effectively existign shareholders are giving up their assets to new shareholders
re board - their background is turning over £6m into £700k
re shell - sorry Zen, my estimate of its value was based on having listed & taken over companies for 5 years in my previous life. I'm sure you know better. If you know people investing at the moment in private co's that are not profitable and cash generative, then I would love to meet them

[loverat] 18/10/2009 07:02

cougar6 - 26 Nov'01 - 13:13 - 616 of 718


Netvest are sound and good for the medium term, i have bought and sold companies all my life and obtained shell companies, if there is a call for more money i would take up my small portion. but i also think there will be moves on the company





Yes, and whilst the '1% cat' was getting over exited and thought the company was the real deal guess who comes along?

[loverat] 18/10/2009 07:00

The posts started at around the same time as the stakes were being accumulated.

cougar6 - 31 Oct'01 - 16:29 - 285 of 718

Just picked up another 40k life is great in the storking field


cougar6 - 31 Oct'01 - 16:47 - 290 of 718

Education :- CLEAN CASH shell is worth one mill to any company looking for floatation. the rest is free can only go up in the medium term. but would think moves will be made soon. going for a sleep


cougar6 - 1 Nov'01 - 14:25 - 325 of 718

what has nvc sold and bought since its last results ? I think the board are cleaver and the results will please the city. the 1% cat


cougar6 - 12 Nov'01 - 21:39 - 467 of 718

My thoughts on nvc are that they have a nett worth of no less than 40p after heavy write offs, plus 10p as shell company. the down side is that they prob cant sell any investments for two years that are quoted



cougar6 - 4 Dec'01 - 10:10 - 3 of 101

A new door opens, next for board changes !



cougar6 - 4 Dec'01 - 10:25 - 7 of 101

Look at the facts we have two large shareholders who can inforce there requirments on the company, good news


cougar6 - 6 Dec'01 - 10:27 - 73 of 101

The open offer could mean that if the two larger sharholders take up there shares they would control the company and each could have over 30% which in theory they would have to bid for the company but only at 5p per share approx. funnyu world !

[loverat] 18/10/2009 06:51

Interestingly both parties had been accumulating the stock for a fairly long period leading up to the appointments and as you will see above both had around 25% when finally appointed. Leading up to that point there were regular holding RNS's starting from the previous year.

By all accounts the behaviour could be considered to be what people might call nowadays as the 'dash for trash'



netvest.com PLC
24 September 2001

netvest.com plc


The Company was informed on 20 September 2001 that as a result of recent
purchases in the market, Temima Limited has become the beneficial owner of
311,398 ordinary shares, representing 3.88% of the issued share capital.



netvest.com PLC
1 November 2001


netvest.com plc ('the Company')

Holding in Company

The Company was informed on 31 October 2001 that Mr G Allnutt acquired 240,000
ordinary shares, representing 3% of the issued share capital of the Company.

[loverat] 18/10/2009 06:45

And Allnutt followed about a month later.....


NETVEST.COM PLC

27 June 2002

('netvest' or the 'Company)

Appointment of director

The Company is pleased to announce that George Patrick Allnutt, aged 56, has
been appointed a director of the Company. George Allnutt is a substantial
shareholder in netvest, holding 3,400,000 ordinary shares, 24.3% of the issued
share capital of the Company.

Over the past 30 years George Allnutt has developed several successful UK
electronic and engineering businesses. In addition, he has developed a varied
portfolio of commercial and residential properties. He is currently chairman of
Photo Distribution Limited, a logistics company.

Said Simon Littlewood: 'we are very pleased to have someone of George's
experience on the Board. George has a track record of working with and growing
fledgling companies, and will take over the management of netvest's existing
portfolio and be responsible for making new acquisitions in the UK going
forward. Netvest has identified several opportunities to acquire profitable
technology businesses in China, which will enable our UK investments to tap
into the potential of the Chinese market and outsource to a low cost
environment. We look forward to announcing the first such deal in the near
future.'

Said George: 'I am very excited at the opportunities available to Netvest at
this time. The collapse in the value of technology companies has created
attractive opportunities to build up a portfolio of well managed, profitable
companies that would previously have been able to go to IPO but in today's
difficult climate are unable to.'

ENQUIRIES:

Simon Littlewood, Chief Executive 020 7407 8494

Graeme Thom, Grant Thornton Corporate Finance 020 7383 5100

Information required to be disclosed under Schedule 2, rule (f) (ii) - (viii)
of the AIM Rules

George Allnutt

Current directorships / partnerships Past directorships / partnerships

Photo Distribution Limited None

Penhale Estates Limited

Mr Allutt was a director of Parcel South West Limited which went into
receivership in 1990. The receivership was completed in 1997 resulting in a
shortfall to creditors of �£40,000.

Save as noted above there are no details to be disclosed pursuant to Schedule
2, rule (f) (ii) - (viii) of the AIM Rules in respect of Mr Allnutt.

[loverat] 18/10/2009 06:43

I read some time back that some posters were not really aware of where things all started and when SL and GA became associated with LDC/COMG and each other.
Anyway - this was when SL was appointed.

For Immediate Release

21 May 2002

netvest.com plc ('the Company')

The Board of netvest.com plc is pleased to announce that Mr Simon Littlewood,
aged 34, has been appointed to the Board with immediate effect. Mr Littlewood
will assume responsibility for the future direction of the Company's business
and investment strategy, and assist in the maximisation of the returns for the
Company from the existing portfolio. Mr Littlewood qualified as a Chartered
Accountant with PriceWaterhouseCoopers. He has previously been employed in the
structured and corporate finance division of the HSBC Group in London and spent
time in BDO Stoy Hayward's corporate finance team, advising on AIM flotations,
mergers and acquisitions and fund raisings. He left to set up a property
development and investment business and establish the Temima Group, an
international corporate finance and investment group. The Temima Group holds a
25.1 per cent stake and is the largest shareholder in the Company.

Said Mr Littlewood: 'I look forward to working with the existing management
team to realise the value in the existing portfolio and reduce the substantial
gap between the Company's assets and the current market capitalisation. The
Company's share price has suffered from the substantial fall off in the
valuation of technology stocks. The Board recognises the need to widen the
Company's investment strategy to take account of the changed circumstances in
which the Company now operates, about which we shall be issuing more
information in the near future'.

The names of all companies of which Simon Littlewood has been a director or
partner at any time in the past five years are set out below:

Current Past

Temima Group plc None

Temima Limited

Temima Investments Ltd

Temima Property Ltd

Enviro Finance Investments Ltd

Enviro Finance Ltd

Outset Developments Ltd

Temima Ltd (Mauritius)

Simolit Ltd

Chesterhigh Ltd

Temima Singapore Pte Ltd
(Singapore)

London China Education Ltd

Justproperty.com Ltd

Simon Littlewood has not had any unspent convictions, has not been declared
bankrupt or been the subject of any individual voluntary arrangement. There has
been no public criticism of Simon Littlewood by any statutory or regulatory
authority and he has not been disqualified by a court from acting as a director
of a company or from acting in the management or conduct of the affairs of any
company. He has not been a partner of any partnerships at the time or within 12
months preceding its compulsory liquidation, administration or partnership
voluntary arrangement.

[loverat] 17/10/2009 21:36

Thanks - I think I have found what I was looking for. I will post some stuff tomorrow.

Interesting - Littlewood joined the board - closely followed by Allnutt in mid 2002. Both had separately built up very large stakes in the company over quite a long period. The posts are interesting too and they were both posting at the time. I think I detect that there was a spot of rivalry and tactics to outdo the other which spilt over to the BB. Quite amusing in parts.

[loverat] 17/10/2009 19:23

Evening.

Looking at Netvest again (NVC) which was renamed to LDC or LAC in Dec 2002. There are some NVC threads - which are very interesting and entertaining but not able to access previous RNS's on this site. Also having some difficulty locating some off this site. Not sure if anyone can help who has a good way of looking up things but I need a date for when Littlewood was appointed director of NVC and how his appointment came about. I think he was appointed in 2001 but might be slightly earlier or slightly later than this.

Basically it would help me understand some of the posts made if I knew the exact date.