Share Name Share Symbol Market Type Share ISIN Share Description
Energem LSE:ENM London Ordinary Share CA29267S1056 COM SHS NPV (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 8.00p 0.00p 0.00p - - - 0 06:32:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Metals - - - - 0.00

Energem Share Discussion Threads

Showing 26 to 49 of 50 messages
Chat Pages: 2  1
Hi Masurenguy, Very nice follow-up by the Telegraph - thanks for posting as I hadn't seen it. 'Our' Tony is some operator and certainly doesn't deserve his apparent liberty based on what I've read. How on earth RAB -as a resources fund- got $200m deep in the F1 scam I can't understand though ... Looking forward to the next episode in the TT saga.
A1 Grand Prix race firm faces fraud inquiry The Serious Fraud Office has started looking into companies behind the A1 Grand Prix Series – the collapsed rival to Formula One – whose creditors still claim to be owed more than £400m. It is almost two years since the event billed as the "World Cup of Motor Racing" ran out of money, cancelling a key race on Australia's Gold Coast and calling in the administrators to its UK operating company. Within the past three months, top fraud investigators have now become interested in A1 Grand Prix Operations, which is in administration with debts of £100m, and A1 Holdings, which is in compulsory liquidation with creditors claiming more than £300m. These two companies behind the series are linked to Tony Teixeira, the South African diamonds entrepreneur, who had promised to revive the racing event's fortunes as chairman of the A1 Grand Prix Series. They now owe money to a number of national motor racing teams and the Australian government. Investigators are looking into the companies' accounting and how they claimed to have raised financing, The Sunday Telegraph understands. A1 Grand Prix Operations, containing 20 racing cars powered by Ferrari engines, went into administration in June 2009. The series was set up so that national teams could turn up and drive, using A1 Grand Prix's cars that it shipped all over the world. As late as autumn 2009, Mr Teixeira had personally promised Australian sports minister Phil Reeves that 18 to 20 teams would be turning up to race in a flagship Gold Coast event within three weeks on October 25. He also promised that €500m was about to be injected into the group of companies – which never materialised – and insisted that the administration of A1 Grand Prix Operations would not affect the event. At this point, the cars were still impounded in an aircraft hangar in Oxfordshire, where Top Gear is filmed. The Australian government, which part-financed the series, has since admitted to being deeply embarrassed when A1 Grand Prix failed to turn up. Mr Teixeira, a director of the company, took over A1 Grand Prix in 2007, backed by £200m from RAB Capital – which has since written down its entire investment. The competition was originally backed by Sheikh Maktoum of Dubai, but he sold out and was no longer involved in the company at the time of its failure. The collapse also brought down an AIM-listed mining company, Energem, linked to Mr Teixeira, which had lent the A1 companies $54m for services. There are currently 15 unsatisfied county court judgments for financial claims against A1 Grand Prix Operations. There are two against A1 Holdings, plus a US court order for it to pay $4.5m to the US A1 Grand Prix racing team. In an ironic twist, a new website promised to resurrect the A1 series under the new name of A10 Grand Prix by autumn 2011. It is not known whether the backers of A10 are in any way linked to the men behind A1. The administrator of A1 Grand Prix Operations and the SFO declined to comment. Mr Teixeira could not be reached for comment.
Oh well, RIP ENM Energem goes into bankruptcy without telling shareholders
1 year on and not a peep out of the company about what's going on. However, apparently Energem is being wound up and assets sold off, so there is some small hope for anyone left holding these... anyone there??? Will post confirmation and contacts for the administrators as soon as I have them. Just sad to see what looked like an exciting & entrepreneurial company destroyed by the greed of 1 man and incompetence of the bod in extending so much unsecured credit to their own.
This guy has NO shame:
Hi Kebab, I fear you're right there - promises have been coming for 9 months now re. debt repayment. And his >40m shares are held in a Trust whose beneficiaries are family members, so they're unlikely to be seizable. I e-mailed the FD last Friday to ask what security the company has for these loans - and guess what, no reply. What really sticks is that ENM also borrowed GBP 1.5m from RABCap to pay off the debts of one of Teixeira's companies; that loan is due shortly as well. If the figures are correct though and the related party debt represents 35% of the company's assets, then the rest if flogged off is worth a lot more than the share price at suspension/delisting. RAB have something like 27% of ENM plus this loan, so maybe there is some hope. I shall be winding them up you can count on it. And if it transpires that they have no security for these loans, they can get their a*ses down the dole office sharpish. Cheers.
This company is doomed while Tony Teixeira has anything to do with it. The money owed to Energem went to his trust ... hence the 'related party' comments. Amazing really that they don't name and shame him. While some autosport mags think Teixeira will buy into a F1 team, I personally think the man is skint having screwed 100's of suppliers and even embarrassing foreign governments with his A1 GP venture ... he also failed to win the cars in a court case last week. He keeps promising everyone money but it never turns up ... same goes for Energem. I doubt this company will be re-listed any time soon. Feel sorry for you BiggerThus!
OK we're delisted. Anyone else out there holding this ? Mine were listed on TSX, but we're delisted there also. If anyone is around please show signs of life.
Well at least we now have a NOMAD, even if the cash has still not been paid back. Zzzzzzzz
Only a few days left to suspension and no update to the 22nd September RNS on debt - which should have been put to bed (according to the Co) in the 1st week of October.
Related Party Debt Update
Kat, frankly (lady/gent?) I don't give a damn, cos mine are on Toronto. However, they've said that they're in discussions/DD with a new Nomad, and besides I thought they were planning to cancel their AIM listing. Charming they are not - but let's hope the money comes through this time. Cheers!
If, within one month of that suspension, the Company fails to appoint a replacement NOMAD, the admission of its AIM securities will be cancelled. Charming!
A bit more upbeat about paying themselves back within the next couple of weeks - but now they've lost their Nomad! Could ENM be the new UEN? ;) Related Party Debt Update
Found this, thought it might interest some investors.
fyi, company expects to release news on 2008 FY and Q1 2009 results either today or tomorrow. Re-listing app for TSX Venture has been submitted and co is awaiting feedback.
sorry mistake Westhouse is in administration
Energem may have lost a fair bit of cash in Westhouse Tobacco who have just gone into receivership?????
energyi, your finger still crossed..? Late again with the figures....
"The Aircraft is considered by the independent members of the Energem board to be a valuable and key strategic asset to the Company's current and future activities in Africa by facilitating direct, safe and quick access to remote areas and areas otherwise not regularly served by scheduled commercial aircraft. It is the opinion of the Company's independent directors that use of the Aircraft has enabled deployment of key personnel to any location in Africa on short notice has been critical to its recent successes both in managing and developing existing assets and in the acquisition of major projects in Africa. As previously done, when not required by the Company, the Aircraft will be chartered out to third parties." Isn't to be used by TT to get around the A1GP circuits by any chance is it?
this is about to spring to life
SUBJECT: WallSrteeReport.-Interview with Brian Menell Posted By: TadeuszA Post Time: 4/29/2006 12:03 - FAO Executive Chairman Dated March 29, 2006 A very interesting interview! Regards, TA 2/ SUBJECT: Listened to the Brian Menell interview.. Posted By: tutank Post Time: 5/2/2006 01:28 and it all sounds like a good plan of action but we will have to see if they are capable of carrying it out. They have talked in the past about Grand Plans and so far have only delivered mediocre results and they do not seem to want to keep the shareholders informed. As for the late filing of financials I don't know who wins the trophy; Energem or Nortel, I make it a draw. Well the next few months will see how this Baby turns out and if all the high powered management have what it takes to do the job. The plan is great and if they pull it off we will ALL be in the money, that I am sure of. Let's keep our fingers crossed. tutank
Any news from FAO yet ?
Chat Pages: 2  1
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