Coca-cola Hbc Share Discussion Threads

[hvs] 31/12/2009 11:18

As long as the shareholders have not got the hump. Personally I never thought this an out and out deliberate shafting of investors, more an unfortunate sequence of events caaused by the ineptitude of the Board. Is it not neligence if you raise money and then loose it on behlf of shareholders ?

[mg78] 31/12/2009 11:17

Interesting - thanks for posting LionelH. Luckily I managed to trade in and out of CCH and wasn't left holding any at the time it all went so wrong. But I've always been curious as to the outcome here.

[lionelh] 31/12/2009 11:06

Just had about a nine page communication through the post re CCH. EGM on 29.01.10 proposing three special resolutions, the main thrust of which concern re-registration as a private limited company by the name of Oiax Ltd. At the premises of Field Fisher Waterhouse LLP, 35 Vine Street, London, starting at 10:00am, if anyone wants to go along and give 'em a barracking. Says still seeks to redistribute funds to shareholders when "able to secure a release from its guarantee obligations". Also "in order to increase the amount of any dividend paid to minority shareholders, Eren Nil has agreed to transfer his entire shareholding in the Company to Richard Fossett to hold on behalf of PLC with a view to those shares being cancelled". Co is still apparently subject to the City Code on Takeovers and Mergers until 2017 which might give us some reassurance. Personally I never thought this an out and out deliberate shafting of investors, more an unfortunate sequence of events caaused by the ineptitude of the Board. The current financial climate was a massive contributor as well let's not forget. No Board in any company anywhere could change that. No timeline again but perhaps all is not lost.

[soggy] 21/10/2009 20:08

Like the playground bully used to say, "wot you gonna do about it??" I guess there are so few investors compared to the block owned by Nil that there isn't that critical mass of people to make enough trouble. And so, since they can get away with it, they will. We are, after all, just a handful of tiny investors in what is effectively now a private company. But at the same time, it stinks - to high heaven. And I've never understood why from day one there wasn't some kind of police involvement in this whole sorry debacle. I've written off my money, but at the same time, I'm ever hopeful that something might turn up. Can anyone remember now what the deal was - after how long was it that the main company holding could/would be returned to the company??? It's all so dim and distant now...

[moormoney] 19/10/2009 14:21

I've searched around for news but still nothing. How can a co. ignore it's shareholders like this and get away with it??

[moormoney] 18/9/2009 22:52

thanks--I'll hang in there then!

[soggy] 18/9/2009 22:39

I would imagine that if you use an accountant to submit your tax form they could include this as a tax loss. But I also suspect that if, some day, it turns out to be a winner that would complicate things. I really don't know. I've wondered the same thing. Cheers!

[moormoney] 18/9/2009 16:54

Can this be used to offset against gains elsewhere now? It seems to have sunk without trace.

[moormoney] 06/9/2009 19:54

Back to sleep on this one--utter shambles is spot on!!

[confusedcoalboy] 21/7/2009 13:36

no idea Soggy, and since the website all but disappeared I have been unable to get any info. The last I heard (and was able to find out) I was waiting on a return call from Patrick Kennedy which never arrived (surprise!), Utter shambles. I might see about going along (I am on a nominee for this one but will see what I can do)

[soggy] 12/7/2009 19:20

I got the notice of the meeting through as well. While there is some hope offered in the document, there is a very clear warning too - it seems the bank is playing ball and has seized assets which they have publicly stated covers CCH's liability to them, however, they have not signed on the dotted line to say that we're off the hook. If they don't do that, and decide to bust us, then that could happen. All we can hope for is that they can be persuaded it's in everybody's best interests for them to allow CCH to continue. If that happens, well and good - we've got a business. But remember, the vast majority of the business (and therefore our capital) has been hived off to Nil. How, when and whether all that will ever find its way back into the part of the business we own is a different matter. I hope it comes good, but you can't help but wonder given the shenanigans that has gone on over the past two years. Anyone got any views on what has been going on with that part of the business - has it been trading, has the credit crunch and gloabal downturn had the same effect on CCH Gmb as it has on every other bank in the world???

[moormoney] 10/7/2009 11:47

please go--it might give us some hope of saving our investment! I'm in nominee ac so get no news at all. cash in the bank sounds promising!

[crapcrap] 10/7/2009 09:15

just recieved my notice of agm from barclays, is it worth while going? best regards cc

[moormoney] 03/7/2009 21:02

thanks for that info.

[bladeboy] 03/7/2009 17:57

Just received notice of an AGM, they're going to change their name to Oiax PLC. They made a profit of nearly £310k in 2008 and have £3.5M in the bank. Not sure what any of this means to us though. bb

[sparky333] 09/6/2009 07:22

Moormoney we are now nearly 2 years since delisting and the splitting up of the company. 12 more months and we can get the german ops back for $1

[moormoney] 18/5/2009 13:19

Thank you sparky--here's hoping if we are patient we may get at least our money back. The trading was amazing and that's why I held quite a few of these I think the fraud which is being pursued in UAE may not be the fault of the Nils bros and maybe the action taken has protected themselves/the business and ultimately the patient shareholders!! what do you think or would you say --dream on!!

[sparky333] 18/5/2009 05:28

Aye moormoney Extract from a conversation with CCH, i would like it fully resoved and then a relist, CCHI Business model was amazing and looks like they are moving back in business. Quote :- We are in the process of finalising the CCHI 2008 audit , which shows some healthy operating profit in the Company.These will be released in by the end of May. The main issue remains the release from the Bank , who are frankly not very approachable at present. We are holding a Board Meeting this Friday with out lawyers to see what actions can be taken to try get this issue moving again. In the short we have started to look at trading again and are reviewing a small sized transaction that will generate some good revenue over the next six months. I am afraid it is just a case that we may have to sit tight for a while and be patient. We do believe that the issue with the Bank will be resolved, but it may not be until such a time as other issues surrounding this matter have been finalised in the Dubai courts.

[moormoney] 12/5/2009 13:47

asparks--from your comments on another thread do I take it this is being sorted out and there may be light at the end of the tunnel? I'd be amazed but very relieved!

[granules] 14/3/2009 18:19

Moormoney Sadly, it is now ,in effect, a private company. Delisted from - AIM? There is now no way the company can issue RNS's even if it wanted to do. We own shares in a private limited company. We can attend Annual General Meetings - if we are given notice!! The 'rules' for a private limited company are virtually non-existant for minority share holders. Nil owns more than 75% of the shares and can alter the company's articles of association at will. We have no say. And until/when/if it is re-listed we never will. Sad but true. I, too, believe that they are rogues. But, tough

[moormoney] 14/3/2009 17:15

How can a co. get away with no communications at all to the market and it's holders? surely it should be bound by some rules?

[moormoney] 13/3/2009 14:46

Thanks Sittain---it certainly doesn't look good for us poor small shareholders! I'm glad to read the bank is taking cch to the cleaners though.