Amd Commo Exagr Discussion Threads

[man overbored] 30/3/2010 21:30

Some very interesting comments on Radio 5 this evening by both Rod Liddle of The Spectator & the head honcho of the Press Complaints Commission, Stephen Abell, who are in agreement about one thing concerning blogs.

[tarvold] 27/3/2010 10:03

Couldn't agree more. It's crazy to invest in shares, especially small caps, without being able to read (& understand) a set of accounts and understand the basic fundamentals of Company Law.

I've read the RNS released by JRVS and as far as I can see the mngt haven't done anything improper and anyone writing to MP's, FSA etc are wasting their time.

[loverat] 27/3/2010 04:47

Tarvold

I cannot disagree with you on Jarvis but it is nevertheless a shock to many. I have traded it in the past but would never have left my money invested for more than a few days because of the obvious risk. I guess that most people appreciated the risk and I think most have taken the hit without too much complaint. However, those that are complaining might have a point concerning recent announcements, which they say indicated that things were getting better and the sudden nature of the administration announcement. I am sure that debate will go on as the events leading up to the bank pulling the plug become clearer.

You(and call logger) are also correct that many investors do not have a clue. I started investing around 12 years ago and it is not something you learn by reading a few books. I am still learning and making elementary mistakes. And even those with some expertise and knowledge (e.g accountancy, charting, corporate governance and company law) make the most bizarre investment decisions and lose money. So I sympathise with those new to investing who are faced with sorting through masses of information and the misleading rubbish on many bulletin boards.

I would like to see more awareness and less acceptance of practices like posting inside information, posting misleading information and downright lies and setting out too deceive others for own gain. And above all I would like to see directors who have shown a selfish and blatant contempt for their own shareholders brought to book for their offences.

The FSA should be taking the lead here and publicising the practices that go on and reign in these offenders. At the moment any enforcement action has addressed only a tiny fraction of what really goes on but lets hope we see
a more proactive approach in the future.

The report by the new directors of London Asia into the past activities of the previous regime is a breath of fresh air. An open and honest appraisal of the disgraceful things which went on and probably still do elsewhere. (Read 6. Causes for Concern in this report)



Remember:

JUSTICE IS NOT JUST REQUIRED,
IT MUST BE SEEN TO BE DONE.•

[call-logger] 27/3/2010 02:15

That's very polite of you, Tarvold: you could have ended that last sentence 13 words earlier

[tarvold] 26/3/2010 23:18

I'm not sure what all the fuss is over JRVS, if you read the last accounts released at the end of Nov you wouldn't touch the company with a barge poll!

You can't blame the company mngt because the one bank who would lend them any money decided that they weren't willing to take the risk anymore and they decided to pull the plug.

I'm beginning to think that the vast majority of the posters on ADVFN don't have a clue where equity holders sit when it comes to a claim on company assets.

[loverat] 19/3/2010 20:48

Yes - I think this is the guy..........

If he is a few bob short he could always pop next door for a loan.



Anomalous - 5 Dec'05 - 00:39 - 35116 of 35122

For your information, the guy I suggested for the Action Group's director is not me. He's director of several AIM listed companies, he's independently wealthy, he attends board meetings already (so he doesn't need expenses!), he's a serial entreprenuer with many businesses under his control and has converted many an empty shell company into a thriving business.

He's one of the major shareholders of Plus Markets Group (OFEX) and
he is willing to try and get the shareholders money back.
If that wasn't enough, he's even backed Action Groups and I trust this gentleman implicitly .

Holdontight - 5 Dec'05 - 02:02 - 35133 of 59023
Anom......who is he/she?

Anomalous - 5 Dec'05 - 02:11 - 35134 of 59023
It wouldn't be politic for me to mention his name on the BB. ADVFN does have rules about this after all. Suffice to say that he posts on ADVFN (infrequently ) under the Logon ID Cougar6.

He likes to be known as a West Country Entreprenuer and lives next door to Pete Townsend. He's incredibly smart and a very astute business man. He once negotiated a deal and when the sellers counter-offered with a higher price, he dropped his price and WON! He is a bona fide genius and if the worst happened (which is starting to look less likely now), then none of the shareholders would come out of it with nothing.

[loverat] 19/3/2010 20:29

One thing that I cannot quite get my head around. The Bournemouth Educational Centre (BEC)was bought for 800K and making a tidy profit in 2004. A few years later that business gets sold for 70K to George Allnutt and James Holmes and two months later COMG changes strategy and is gone.

If any of you directors are reading this please can you shed any light on what happened to COMG and shareholders money.

[loverat] 19/3/2010 20:21

I guess the next question to be asked by COMG shareholders is where is my money?

Yes - a good question.

Where is the money?

[loverat] 19/3/2010 20:18

This company was in the Gazette around the end of December. So, looks like its all over folks.

Incidentally, I am afraid that the latter company listed below (The Investors Support Fund) in which George Allnutt was also a director of was unfortunately struck off and dissolved.


Name & Registered Office:
COMMODITY GROWTH PLC

Status: Active - Proposal to Strike off
Date of Incorporation: 11/06/1999

Country of Origin: United Kingdom
Company Type: Public Limited Company
Nature of Business (SIC(03)):
7487 - Other business activities
Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2006 (GROUP)
Next Accounts Due: 31/07/2008 OVERDUE
Last Return Made Up To: 11/06/2009


INVESTORS' SUPPORT FUND LIMITED
Status: Dissolved 17/11/2009
Date of Incorporation: 02/06/2006

Country of Origin: United Kingdom

[loverat] 18/3/2010 05:21

This link seems to explain companies and directors liabilities in relation to non filing late filing etc.




.


Directors' personal liability

In addition to penalties to which the company may be subject, late filing of accounts may also give rise to personal liability for the directors of the company.

Under the Companies Act 2006, failure to deliver accounts on time is a criminal offence. Directors serving at the time of the missed deadline may be prosecuted and subject personally to a fine of up to £5,000 and, for continued contravention, a daily default fine of £500.

There are also powers under the Act for the court to order the directors to comply with their filing duties.

Failure to deliver the company's accounts on time could also amount to a breach of the directors' duties to promote the success of the company or exercise reasonable care, skill and diligence, potentially giving rise to a claim by the company. The Company Directors Disqualification Act 1986 also sets out various provisions under which a failure to comply with companies legislation in respect of the content and filing of accounts could lead to directors being disqualified from being a director or concerned in the management of a company for up to five years.

[tarvold] 17/3/2010 23:49

No it's not criminal but you will be fined.

[man overbored] 17/3/2010 19:35

Is it not a criminal offence to fail to file company accounts by the deadline?

I note that both COMG and the bizarre outfit below have both failed so to do.



Name & Registered Office:
ANOMALOUS INTUITION LIMITED
16 THE REX
BERKHAMSTED
HERTFORDSHIRE
HP4 2BT
Company No. 04222436





Status: Active
Date of Incorporation: 23/05/2001

Country of Origin: United Kingdom

Company Type: Private Limited Company
Nature of Business (SIC(03)):
7221 - Software publishing

Accounting Reference Date: 31/05
Last Accounts Made Up To: 31/05/2008 (TOTAL EXEMPTION SMALL)
Next Accounts Due: 28/02/2010 OVERDUE
Last Return Made Up To: 23/05/2009
Next Return Due: 20/06/2010

Last Members List: 23/05/2009

[loverat] 17/3/2010 18:27

Yes - the one on the left is Milliband - from his student days. Or perhaps Seb Coe.

[loverat] 17/3/2010 13:32

Actually a blond in real life.

[loverat] 17/3/2010 13:30

Now, time to study the above. Who is that nice lady at the end.

I reckon it is the young lady out of the BBC series 'Hustle'

[debaleb] 13/3/2010 14:18

Get a life mate.