Bould Opportunities Share Discussion Threads

[iman1974] 15/4/2019 08:42

Anyone have any idea when we will see the #bou ticker?

[katsy] 15/4/2019 08:41

Wow, you guys already sitting on a multi bagger

[comedy] 15/4/2019 08:23

all systems working:)

[comedy] 15/4/2019 08:11

not on most brokers online system this morning..so phone trading only at mo?

[letmepass] 13/4/2019 06:27

Well done all

[wolfcub] 13/4/2019 06:14

Morning :) cheers for setting up the new ticker.

[comedy] 12/4/2019 07:57

morning guys:)

[courty2] 12/4/2019 07:15

Good luck to all.

[counting cards] 12/4/2019 00:30

!FOLLOWFEED
09/04/2019 7:00am
UK Regulatory (RNS & others)

Photonstar Led (LSE:PSL)
Historical Stock Chart
1 Month : From Mar 2019 to Apr 2019

Click Here for more Photonstar Led Charts.
TIDMPSL

RNS Number : 4975V

Photonstar LED Group PLC

09 April 2019

9 April 2019

PhotonStar LED Group PLC

("PhotonStar" or the "Company")

Shareholder update

Further to the announcement of 5 April 2019, the board of directors of PhotonStar (the "Board") have been in discussions following the general meeting convened on the 13(th) March 2019 which took place on the 5(th) April 2019 (the "General Meeting") and would like to update shareholders accordingly.

Company update

On 13 March 2019, the Company announced that should the resolutions of the General Meeting be voted down, the Directors will be forced to consider the viability of the Company's future. At the General Meeting on 5(th) April 2019, Resolution 4 was voted down, meaning that the Directors do not have authority to issue any new ordinary shares other than on a pre-emptive basis.

Although the Company has undertaken a number of small placings in the past few months, the costs associated with ceasing operations and settling accrued expenditures from the legacy business were greater than originally anticipated. The Board believe that whilst the current cash position is enough to meet the Company's immediate cash requirements, it is not enough to deliver on the new strategy approved at the General Meeting and summarised below.

The Board, will therefore, be considering other funding strategies which may include pre-emptive share issues such as an Open Offer and may ask for further authority to issue shares outside of the current pre-emptive authority.

AIM Rule 15

The Company's strategy, following the closing down of PhotonStar Technology, is to acquire a business that is seeking an AIM quoted platform via a Reverse Takeover ("RTO"). The Directors are agnostic in relation to sector but will focus on an acquisition that can create significant value for shareholders in the form of capital growth and/or dividends. The Company has already met with a number of promising potential acquisition targets and whilst no guarantee can ever be made to the execution of a successful RTO, it is the Board's intention to identify and execute a reverse takeover in prudent haste.

Following shareholder approval to close down PhotonStar Technology the Company is now an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules) on or before the date falling six months from shareholder approval to close down PhotonStar Technology or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million of new equity funding) failing which, the Company's New Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM of the Company's shares would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.

Board Composition

The Company's Chairman, Mr Jonathan Freeman, intends to leave the Board of Directors by the end of April 2019. The Board are in discussions with a replacement and will keep the market appraised of developments.

Change of name

Following the passing of Resolution 3, the Company will change its name to Bould Opportunities plc, and it's TIDM to BOU.

The Company will further update the market when these changes have been affected

[nissi beach] 24/3/2006 13:08

net assets of 1108K gives NAV of 15p now

[nissi beach] 22/3/2006 13:54

looks like we need to read small print on proposal

[wiganer] 22/3/2006 13:39

Still sounds a bit dodgy to me.

What is a "registered bond instrument" for instance?

That said, I'm sure shareholders have a bit more hope than they did yesterday.

[sharegod] 22/3/2006 13:30

happy ending?

[raygun] 24/6/2005 16:02

Note the bottom of this article with regard to Boustead. Could be back on soon?



Easier rebels hit at 'smoke and mirrors' of missing £5.4m

By Harry Wallop (Filed: 24/06/2005)

The battle to find the whereabouts of £5.4m belonging to Easier, the shell company whose shares were delisted from the Alternative Investment Market last year, took another twist yesterday at an ill-tempered emergency meeting.
Rebel shareholders were thwarted in their attempt to oust the directors they blame for problems at the company, which include the resignation of Deloitte & Touche as auditors, the sacking of its nominated adviser and a failure to file accounts for either 2003 or 2004.
The two board members, David Gough and Andrew Milne, resigned hours before the meeting, saving themselves the embarrassment of being voted off by shareholders, who had enough votes to force them out.
Shareholders were left to vent their frustration at Brian Copsey, the company's general manager, who had been co-opted to the board by the departing directors.
One shareholder, Graham Stevens, rounded on Mr Copsey for refusing to give an update on the company's sole asset, £5.4m in cash. "Why is it so difficult to tell people where the cash is. Is it in Barclays around the corner? Why is it so difficult? We are all just so fed up." Another shareholder accused Mr Copsey of using "smoke and mirrors".
A clearly ill at ease Mr Copsey, who was frequently asked by shareholders to speak up, laid out his plans for the company. Fulton Partners, of which he is a director and which holds 26pc of Easier, will make a cash offer to shareholders of 22p a share, equating to £5.4m. Shareholders who do not want to take up this offer will end up with shares in a new company. This new company will buy a stake in a gas field in Texas with "provable reserves", said Mr Copsey, and then intends to float on Aim.
Shareholders repeatedly asked for details of the new company's directors, brokers and advisers, which Mr Copsey was unable to give, though he insisted that they were all "reputable City firms of note". The deal constitutes a takeover and therefore the new company has 28 days to make a formal offer document, complete with qualified accounts of Easier.
John Strachan, the second director co-opted to the board, promised: "There will be no further nonsense at this company."
Intriguingly, Mr Copsey promised that Boustead, another company delisted from Aim in which Fulton has a stake, is "weeks away" from revealing the whereabouts of its asset, £2.6m in cash.

[raygun] 15/2/2005 12:02

Old geyser? Type "sir thomas macpherson" into google. Much respect.

re independant article, 2+2=5

Raygun

[dell314] 14/2/2005 09:57

StewJames - 14 Feb'05 - 09:39 - 41 of 41

What's with the old geysers? 74 year old and 84(!) year old chairmen? Not like they've got all that much to lose if caught with their hands in the till is it?!


LOL!
Perfect age for an "Ernest Saunders" style bout of ill health in prison(If guilty) followed by compassionate release and miraculous recovery....

Rgds
dell

All IMHO, DYOR etc.

[stewjames] 14/2/2005 09:39

What's with the old geysers? 74 year old and 84(!) year old chairmen? Not like they've got all that much to lose if caught with their hands in the till is it?!

Why do you never see these jobs where you get £100000 for doing absolutely nothing advertised in the papers? Anyone know how you go about getting one?

[m.t.glass] 13/2/2005 23:53

By Stephen Foley
14 February 2005

Small Talk
The Independent


Fulton Partners, an offshore investment company run out of Mayfair in London, is at the centre of two similar mysteries at cash shell companies, where auditors cannot find the main asset: millions of pounds of cash.

Fulton, chaired by 74-year-old David Gough, is the main shareholder and investment adviser to Boustead, a former engineering company whose shares were suspended last week in a dispute over the whereabouts of £2.6m.

But it also controls Easier, an AIM-quoted shell which was delisted last year, leaving hundreds of small shareholders in the dark about its financial affairs. There, an even bigger sum of money is unaccounted for. It has emerged that Easier's auditors, Deloitte, have quit, telling the company: "During the course of our audit, we have requested information regarding the company's investments. This information has not been forthcoming".

Its statement was filed at Companies House in December, after Easier made an unsuccessful legal bid to have it blocked or changed. It was not, however, distributed to Easier's shareholders, who have been unable to trade the stock since its suspension last June.

A spokesman for Easier said the company is less than two weeks away from getting its disputed financial results signed off by new auditors, and it would update shareholders then. He said the company is planning a return to AIM after completing a reverse takeover deal.

Easier floated at the height of the dot.com boom as an online estate agent but got out of that business and has lain dormant since 2001, with £5.4m in the bank. Fulton Partners took control in September 2003, when Mr Gough became chairman. On 30 June 2004, one day before the shares would have been automatically suspended because the company had failed to file its accounts, the company asked for trading to be halted. It said it was in talks over a property deal. Shareholders have heard nothing since but it is understood that the deal did not go ahead.

The company said over the weekend that its assets were now £5.5m, with £3.4m of that in quoted US equities, although its spokesman declined to give details of when the money might have been invested in American stocks or what those stocks might be. "It is right that shareholders should be told first," the spokesman said. Mr Gough declined to discuss Easier directly with Small Talk, and he denied any role in the disputed events at Boustead.

Mr Gough's partner at Fulton is Brian Copsey. The pair were paid £200,000 last year by Boustead for work to find merger and acquisition activity for the company, although its chairman, 84-year-old Sir Thomas Macpherson, said he has since cut that fee to £100,000 because of dissatisfaction with their performance. Boustead's chief executive since July 2003 is the Cayman Islands-based Robert Lyons, an associate of Messrs Gough and Copsey.

Boustead's shares were suspended last week by the Financial Services Authority, "pending clarification of its financial position". The company's auditors, Kingston Smith, refused to sign off its last accounts, saying that it could not account for £2.6m.

Sir Thomas said the money had been lent to a business partner in the Far East, which needed security for a government engineering contract, and that Fulton had been involved in setting up that deal. "The contract was [arranged by] Mr Lyons, the contacts were a joint effort," he said.

Boustead said last year that the money was held in the Cayman Islands and the paperwork to prove its existence had been delayed because of hurricanes in the autumn. Now it has been moved to a Hong Kong bank, where the Chinese New Year had delayed the preparation of the necessary documents, Sir Thomas said.

Boustead said last week that it wanted to sack Kingston Smith for alleged breach of confidentiality, but the auditors say it wouldn't be in the best interests of shareholders to quit until the money has been found. Boustead must decide whether to go ahead with an extraordinary shareholder meeting to oust them. Kingston Smith would then get a public opportunity to set out the details of their search for the cash and their ongoing concerns.

Mr Gough, however, is not on the board of Boustead and will therefore not have to face public questions unless Easier returns to AIM. Small Talk, like Easier's hundreds of small shareholders, is eager to see that happen.

[m.t.glass] 13/2/2005 23:51

By Stephen Foley
14 February 2005

Small Talk
The Independent


Fulton Partners, an offshore investment company run out of Mayfair in London, is at the centre of two similar mysteries at cash shell companies, where auditors cannot find the main asset: millions of pounds of cash.

Fulton, chaired by 74-year-old David Gough, is the main shareholder and investment adviser to Boustead, a former engineering company whose shares were suspended last week in a dispute over the whereabouts of £2.6m.

But it also controls Easier, an AIM-quoted shell which was delisted last year, leaving hundreds of small shareholders in the dark about its financial affairs. There, an even bigger sum of money is unaccounted for. It has emerged that Easier's auditors, Deloitte, have quit, telling the company: "During the course of our audit, we have requested information regarding the company's investments. This information has not been forthcoming".

Its statement was filed at Companies House in December, after Easier made an unsuccessful legal bid to have it blocked or changed. It was not, however, distributed to Easier's shareholders, who have been unable to trade the stock since its suspension last June.

A spokesman for Easier said the company is less than two weeks away from getting its disputed financial results signed off by new auditors, and it would update shareholders then. He said the company is planning a return to AIM after completing a reverse takeover deal.

Easier floated at the height of the dot.com boom as an online estate agent but got out of that business and has lain dormant since 2001, with £5.4m in the bank. Fulton Partners took control in September 2003, when Mr Gough became chairman. On 30 June 2004, one day before the shares would have been automatically suspended because the company had failed to file its accounts, the company asked for trading to be halted. It said it was in talks over a property deal. Shareholders have heard nothing since but it is understood that the deal did not go ahead.

The company said over the weekend that its assets were now £5.5m, with £3.4m of that in quoted US equities, although its spokesman declined to give details of when the money might have been invested in American stocks or what those stocks might be. "It is right that shareholders should be told first," the spokesman said. Mr Gough declined to discuss Easier directly with Small Talk, and he denied any role in the disputed events at Boustead.

Mr Gough's partner at Fulton is Brian Copsey. The pair were paid £200,000 last year by Boustead for work to find merger and acquisition activity for the company, although its chairman, 84-year-old Sir Thomas Macpherson, said he has since cut that fee to £100,000 because of dissatisfaction with their performance. Boustead's chief executive since July 2003 is the Cayman Islands-based Robert Lyons, an associate of Messrs Gough and Copsey.

Boustead's shares were suspended last week by the Financial Services Authority, "pending clarification of its financial position". The company's auditors, Kingston Smith, refused to sign off its last accounts, saying that it could not account for £2.6m.

Sir Thomas said the money had been lent to a business partner in the Far East, which needed security for a government engineering contract, and that Fulton had been involved in setting up that deal. "The contract was [arranged by] Mr Lyons, the contacts were a joint effort," he said.

Boustead said last year that the money was held in the Cayman Islands and the paperwork to prove its existence had been delayed because of hurricanes in the autumn. Now it has been moved to a Hong Kong bank, where the Chinese New Year had delayed the preparation of the necessary documents, Sir Thomas said.

Boustead said last week that it wanted to sack Kingston Smith for alleged breach of confidentiality, but the auditors say it wouldn't be in the best interests of shareholders to quit until the money has been found. Boustead must decide whether to go ahead with an extraordinary shareholder meeting to oust them. Kingston Smith would then get a public opportunity to set out the details of their search for the cash and their ongoing concerns.

Mr Gough, however, is not on the board of Boustead and will therefore not have to face public questions unless Easier returns to AIM. Small Talk, like Easier's hundreds of small shareholders, is eager to see that happen.

[raygun] 11/2/2005 20:26

I understand the debtor is secure.

I spoke to the auditor (who is not so certain about the debtor), Peter Timms, just rung him up. He spent 20 mins on the phone telling me what he thought of the business and the debt. This is not an auditor i would want to engage and he ought to learn a little about client confidentiality.

I'm ok to sit back and wait on this one, although bear in mind that this is still a risky shell stock. It does, however, have Sir Tonmmy in the chair, he has integity in buckets, and some pretty experienced people working on making something of it.

Raygun

[nick9962] 11/2/2005 09:36

Does anyone have an inside track on what the hell this means? No doubt the shareholders are going to to get stuffed once again

[nick9962] 19/1/2005 08:10

OK thanks, you seem to have a bit of an inside track on these, I have held them for some time, i hold stakes in a few "shells" lets hope they do well

Good Luck

Nick