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Name | Symbol | Market | Type |
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Amd Commo Exagr | LSE:COMG | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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-21.25 | -1.02% | 2,055.75 | 2,054.50 | 2,057.00 | - | 1,417 | 16:35:25 |
Date | Subject | Author | Discuss |
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31/10/2009 06:54 | And anyone who can't see that after a few hours reading and research is either blind themselves or has a rather warped view of the standards of the conduct which shareholders have a right to expect. | loverat | |
31/10/2009 06:49 | All smoke and mirrors and questionable practice IMO. My own view for what it is worth is that JW and GA honestly did not know the specifics of what was going on.(i.e in KN's findings) Fact is though they were on the board with Littlewood for years and should have made it their business to find out. At the very least they would have been aware of the culture of arrogance and contempt for shareholders and participated in this and the unethical behaviour, the warning signs of which were regularly flagged up on these bulletin sites. What did they do? ABSOLUTELY NOTHING Except of course spend years blindly ramping these companies on this site while ignoring and neglecting their own duty of care. In my mind that makes them equally responsible for what happened. | loverat | |
31/10/2009 06:31 | And this was the one I think egoi mentioned. Allnutt a director. DALIAN BUSINESS INSTITUTE LTD Headline Dalian Business Institute Limited - Withdrawal for PLUS Released 15:50PM 3rd August 2009 Withdrawal from PLUS The following Company will be withdrawn from PLUS with effect from close of business 03/08/2009 due to the company being suspended for over six months: Dalian Business Institute Limited | loverat | |
31/10/2009 06:24 | Can't find hardly anything on this one - as we know withdrawn from PLUS. Seems to have disappeared as if it never existed in the first place. Withdrawal from PLUS Due to non-payment of the PLUS annual fee the following Company will be withdrawn from PLUS with effect from close of business today, 09/05/2008: China Education Group Ltd CHINA EDUCATION GROUP LTD Withdrawn A PLUS-quoted Company | loverat | |
31/10/2009 06:07 | Current directors on the COMG board of directors. Between Allnutt, Holmes and Littlewood nearly 100 previous appointments. COMMODITY GROWTH PLC Current Appointments Number of current appointments: 5 SECRETARY: MILES, MICHAEL GRUSZEWICZ Appointed: 20/12/2003 No. of Appointments: 14 DIRECTOR: ALLNUTT, GEORGE PATRICK Appointed: 07/01/2003 No. of Appointments: 17 DIRECTOR: HOLMES, JAMES DOMINIC RUPERT MR Appointed: 07/01/2003 No. of Appointments: 43 DIRECTOR: LITTLEWOOD, SIMON MR Appointed: 07/01/2003 No. of Appointments: 34 DIRECTOR: NG, VICTOR Appointed: 21/08/2003 No. of Appointments: 1 | loverat | |
30/10/2009 20:38 | Just watching Only Fools and Horses. A few characters remind me of this lot.... Simon 'Boycie' Littlewood 'Uncle Albert' Wigglesworth George 'Trigger' Allnutt James 'Dellboy' Holmes | loverat | |
30/10/2009 19:24 | No right-minded persons appear to have be involved in this shambolic outfit, until after its demise; and the amateurish website appears to have been 'knocked up' by a single-person charisma vacuum, for the benefit of the public (cf. free of charge). Mind you, I don't think the 'knocker-upper' is much of a scholar of Latin, any more than of English, unless 'bona fide' is code for 'highly circumspect'. | man overbored | |
30/10/2009 19:15 | BlackSS That RNS is dated just two months before COMG was suspended. Hope you are well. E-mail me when you get a chance. | loverat | |
30/10/2009 19:10 | 'The independent directors, Simon Littlewood and Victor Ng, have determined that the sales price and acquisition terms are reasonable' In light of yesterday's events can we now conclude that the above is also a load of codswallop? | loverat | |
30/10/2009 19:03 | How unfortunate. | loverat | |
30/10/2009 19:03 | Well you have to admit the company gave due warning of its impending demise. RNS Number:3397Z Europasia Education PLC 29 June 2007 Strategy We continue to generate losses and our share price continues to decline. +++++++++++++++ 2 years in fact !! | blackss | |
30/10/2009 19:02 | And this is the RNS confirming the new strategy. Holmes and Allnutt buy the education portfolio part of the business (for 70K )and the 'new strategy' goes down the pan two months later and COMG is suspended. The Board has reached the conclusion that the best interests of the shareholders are served by abandoning the current education focused investment strategy and implementing a strategy of investing in rare commodities, particularly those used in the energy and environment sectors, in line with Benson's expertise and a resolution to that effect is to be proposed at the upcoming Annual General Meeting ("AGM"). The details of the revised investment strategy are outlined in the Chief Executive's Statement. Benson is bringing in a small team to assist in the implementation of the strategy. Benson and the new team are being awarded up to 10 million new ordinary shares in lieu of cash salaries. This will reduce the cash burn of the Company and align the interests of the management team with the shareholders. The new staff must complete at least one year's service before they are entitled to sell the shares and the shares are being purchased by the team in lieu of salary at the equivalent of 5p per share, a significant premium to the current EPE share price. As part of the change in strategy, we are proposing a resolution at the AGM to change the Company's name to Commodity Growth plc. In order to finance the new strategy we intend to dispose of the existing education portfolio. The E2000 management team, along with myself and fellow EPE director George Allnutt, has made an offer of #70,000 to acquire the entire UK business consisting of E2000 and Management International ("MI"). Payment will be made via the cancellation of EPE's 10% Convertible Loan Notes. The acquisition price represents approximately three times the combined E2000 and MI profits for 2006. Additional consideration may become payable based on any increase in profit in 2007 over 2006. The independent directors, Simon Littlewood and Victor Ng, have determined that the sales price and acquisition terms are reasonable. In view of the interests of George Allnutt and myself, the proposed disposal constitutes a substantial property transaction under section 320 of the Companies Act 1985, and, accordingly, is conditional on the approval of shareholders at the AGM. | loverat | |
30/10/2009 18:54 | From the statement - does this read as Victor is all to blame for the demise of COMG? 'Victor Ng, an EPE Director devised the new strategy. The company would remain a China focused investment business but would concentrate on commodities. A new management team of four was recruited to run the business in China. Each of the four had the background, experience and contacts in the industry needed for the strategy. Benson Day was recruited as Chief Executive Officer, the London office was closed and a new office opened in Singapore where Benson Day was based. James Holmes, stepping down as CEO, joined George Allnutt as a non executive Director. The new management team announced the first investments had been identified and due diligence was underway. In the course of the following months the company moved back from profit to loss and the quote on AIM was ended. These events led to the resignation of the management team, then the new CEO and then Victor Ng. These events have left the company in a difficult position. There is no longer an office or administrative base and there are now significant accrued interest payments due to loan note holders which will make a re-admission to the market and a fundraising difficult. The non executive directors have had to temporarily reassume executive functions in order to manage the portfolio and negotiate with the loan note holders. If these negotiations are successful, the directors plan to consult with shareholders on ways to develop the business and restore value to shareholders' James Holmes Chief Executive Officer 20 July 2009 | loverat | |
30/10/2009 18:51 | No - sorry, when I say 'knocked it up' I did not mean 'her'!!!!!!! | loverat | |
30/10/2009 18:47 | O.K fellas - calm down. The young lady on the right is not one of the directors of the company! No, the website is registered to Anomalous who I assume 'knocked it up' on behalf of the management of COMG. | loverat | |
30/10/2009 18:43 | Oh yes - here we are. I said we would discuss this statement made by the CEO of Commodity Growth(COMG) A Message From The Chief Executive Officer We are writing to update shareholders on progress at Commodity Growth plc, formerly Europasia Education plc (EPE). You will recall that the current board were appointed in 2003 following a succession of losses in the company including losses in 2002 of £2.2m. The board implemented a new strategy, raising in excess of £1.5m from investors in a series of funding rounds and re positioning the company as a pioneering education investment company focused on the fast growing Chinese market where the company opened a representative office. The company purchased 100% of Management International, a vocational and business training organisation and English 2000 a leading English language school. In addition, we established "Hello English" as a joint venture which went on to develop radio based courses in China which attracted an estimated four million participants, the largest non governmental training programme in the world. These successes led to Consultancy work for the Group including with the BBC to develop English language courses and with a number of Chinese Colleges. After careful research, the company made two very important strategic investments. the first was in the Shandong International Institute for Translation which was purchased by Europasia Beijing and in which EPE had a 15% stake having invested £156,000 in cash and a much larger amount in shares. EPE Beijing was subsequently listed on PLUS market in London with a new ultimate holding company, China Education Group plc. Our investment at the time and subsequently helped to develop a second campus of 22,000 square metres of lecture rooms, libraries and student accommodation, boosting student numbers by over 3,000. The value of our investment, reflected in the PLUS listed shares rose by 160% at their height. Building on this success, the company then invested to take a 10% stake in the Dalian Business Institute. As with the previous investment, the College was assisted in the development of new courses, marketing strategies and accounting systems and with a listing onto PLUS. The number of students rose by over 1.000. EPE increased its stake by another 5%. At its height, this investment produced a return in the form of PLUS shares of 109% for EPE The loss in EPE of £2.2m in 2002 was turned into an audited profit of £1.1m for the financial year 2006. Despite these achievements, the company was not able to translate the success into a rising share price. A consolidation, press coverage and private client broker tours failed to address this. The company was unable to raise additional sums needed for the next identified investments and so a decision was taken to alter the focus in order to continue growth. Victor Ng, an EPE Director devised the new strategy. The company would remain a China focused investment business but would concentrate on commodities. A new management team of four was recruited to run the business in China. Each of the four had the background, experience and contacts in the industry needed for the strategy. Benson Day was recruited as Chief Executive Officer, the London office was closed and a new office opened in Singapore where Benson Day was based. James Holmes, stepping down as CEO, joined George Allnutt as a non executive Director. The new management team announced the first investments had been identified and due diligence was underway. In the course of the following months the company moved back from profit to loss and the quote on AIM was ended. These events led to the resignation of the management team, then the new CEO and then Victor Ng. These events have left the company in a difficult position. There is no longer an office or administrative base and there are now significant accrued interest payments due to loan note holders which will make a re-admission to the market and a fundraising difficult. The non executive directors have had to temporarily reassume executive functions in order to manage the portfolio and negotiate with the loan note holders. If these negotiations are successful, the directors plan to consult with shareholders on ways to develop the business and restore value to shareholders. James Holmes Chief Executive Officer 20 July 2009 | loverat | |
30/10/2009 18:39 | O.K - someone please remind me. Where were we? This thread seems to have gone off on a tangent somewhat with someone going on about talk of Six Million Dollars of LDC Shareholders funds held by the 'Croatian Mafia'. O.K before we conclude that discussion could someone point me in the general direction of the RNS announcing the aquisition by the 'Croatian Mafia' of these funds? | loverat | |
30/10/2009 07:39 | Monthly viewing figures from China. | loverat | |
30/10/2009 06:38 | Tarvold I have read back through the LDC/LAC BB and many people expressed their concerns over a long period about Littlewood and how the company was run. Probably similar in that respect to Langbar before it went.People could never quite put their finger on it but looking at the share price prior to suspension the institutions and big shareholders were clearly uncomfortable. The findings are therefore not a surprise but the strongly and clearly worded statement put out by the management is. Clearly they have spent alot of time and put in alot of hard work and it is refreshing to see such honesty and clarity in the update. The new directors who joined the board must be rightly proud of their achievements to do this and hopefully it will act as a deterrent to other potential offenders. What is staggering is that despite the fact concerns were expressed, a least one director of the company besides Littlewood posted regularly on the board defending the company. All the indications from the update (and the BB it seems) are that he and the others had no idea where the bank accounts were, the Croatian loan or it seems little else. It seems that only when he took over as CEO when Littlewood left that he began to realise the scale of the problems and called a proper recovery expert in. It is obviously good news for LDC/LAC holders and for shareholders generally but there is an attempt to install new directors by some set up previously associated with Littlewood. To explain LDC/LAC is linked to COMG through having the same directors. COMG was also delisted along with China Education Group and Dallian. A complex web of companies, deals and individuals which I am hopeful will be looked into in due course. | loverat | |
29/10/2009 21:27 | Well, just taking a look to see if I can locate the 'Croatian Mafia' which has LAC shareholders funds. Not much luck so far - except this. That Ice Cream seller looks a bit suss. | loverat | |
29/10/2009 19:21 | And this has to be the classic of all. Also posted by George Allnutt a director of LAC when Littlewood was apparently dishing out millions of dollars to companies in Croatia. Apparently, according to Mr Littlewood the money is now being held by the 'Croatian Mafia' cougar6 - 19 Jul'07 - 15:49 - 7972 of 8797 sorry to see your blind slapdash And by all accounts it was Allnutt who didn't have a clue. You couldn't make all this up! | loverat | |
29/10/2009 19:12 | Yes - and it seems the share buyback programme was regularly supplemented by this kind of improper share support activity 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 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 - 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 | |
29/10/2009 19:02 | The much trumpeted share buyback programme - Apparently illegal. 6.7 Improper Share Support Activity Between December 2007 and April 2008, shares in LAC were purchased on the AIM market by the Company totalling 1.85 million shares. RNS announcements were issued stating they were to be held in Treasury. The majority of these transactions were arranged by Mr Simon Littlewood. Your Directors have been advised that these purchases were illegal because LAC did not have sufficient distributable reserves and was therefore in breach of the Companies Act. While Mr Simon Littlewood was a Director of Huang He Securities Ltd, one of the Share Swap companies mentioned earlier, instructions were given for the purchase of 2.5 million shares of LAC in 2007 and 2008. The cash to buy these shares came from London Asia Investments (Hong Kong) Ltd ("LAI(HK)") and thus the transaction was circular. The effect was to artificially support LAC's share price which was in breach of the Companies Act. RNS Number:4535S London Asia Capital PLC 16 April 2008 London Asia Capital ("London Asia" or the "Company") Purchase of own shares The Company announces today that it purchased 250,000 of its own ordinary shares at 4.7p per share on 11 April 2008. These shares are to be held in treasury. Following the share purchase, the Company now has 1,900,000 ordinary shares held in treasury. Following the share purchase, the Company has 327,378,990 ordinary shares of 5p in issue, with voting rights attached (one vote per ordinary 5p share). Therefore the total voting rights figure of 325,478,990 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, London Asia under the Disclosure and Transparency Rules. Enquiries: London Asia Capital: George Allnutt | loverat |
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