Finablr Share Discussion Threads

[bubsy2] 07/8/2020 20:39

I invested last year here and as it went below 50p I started to trade it impo I believe there will be a debt 4 equity swap around 40% max depending what finablr final debt balance is I'm taking a open minded view on what the Indian said 6_8 weeks ago

[crowshott] 07/8/2020 17:28

If all the shareholders write in complaints bodies in the UK whom are suppose to monitor companies e.g The london exchange, The accounting standard in investigate the auditors, and the advisers which advised the IPO at the time. All those bodies should have done checks to bring beforehand the IPO listing. It seems IPO was misleading and shareholders were mislead in the first place along with the bodies in the UK whom were suppose to protect the shareholders and uphold standards. It seems that everyone got the fees and shareholder left dry as normal.

[melpan] 07/8/2020 16:58

For those of you enquiring, this will never relist as there is no equity value left. If you read the latest restructuring release, the priority and seniority goes to the new investors and/or the previous debtholders (depending upon which part of the business it relates to) and they have clearly stated that they will not get paid in full. Hence being equity and the bottom of the pole, there will never be any money left to flow down to us.

The way this has been handled is scandalous. If there was a viable business (which there clearly is) then they could have explored a massive rights issue as well as debt financing. At least that way, existing shareholders have a) Some liquidity and b) A chance to minimise losses. This all smells a bit funny as we don't know what the type of fraud there was, how much, whether there will be any chance of recovery etc etc It seems they pulled the trigger and wiped out shareholders without giving us a chance to investigate and/or sue for potential recoveries from management and/or auditors.

Am down a hefty five figures on this. If we were in the US I would have happily - and easily - signed up to a class action lawsuit. In the UK the law and regulation - esp the FCA - are completely incompetent and against the smaller PI unfortunately.

If anyone knows of a shareholder action or rights group which would help us pursue the previous management AND the auditors, please post on here. I will participate.

At the end of the day the way I see it, its pretty simple, if the shareholders are wiped out then so should the previous management - ie they should be declared bankrupt and their assets seized. Not sure why this avenue has not been discussed in any of the company releases. The administrators just seem happy to restructure and move on. The Skadden appointment is useless to shareholders as they've already made the decision to wipe us out by restructuring. This is because they are unlikely to find MORE money than was embezzled !!!!! So anything recovered will all go to creditors and they will be happy because they could get paid their losses in full AND own a share in the future business. Whereas, we have no participation in the future business at all.

[shares188] 07/8/2020 16:40

The way I see it , they can only keep
Getting extension for 6 moths which
takes it to mid September, or they
will be delisted.
Im assuming they will address shareholders
as to what's happen or the whole thing
stinks!!!

[crowshott] 07/8/2020 13:00

May be class action should be done for the advisers of the IPO in the UK and auditors who signed of the accounts. Would need more shareholders to join class and law firm willing to take on the task.

[shares188] 07/8/2020 12:36

I'm contacting FCA,
Ive also got a number for Company
If that doesn't work , I will be
Wanting some answers from the FCA

Ryan Ayache
[phone]

The + is a 00 I think lol

[bubsy2] 07/8/2020 10:27

I've phoned around no information given on this company silent weird

[shares188] 06/8/2020 22:09

Phone the number above
They will let you know
what's happening

[bubsy2] 06/8/2020 21:36

I don't think it's a dead duck 4 holders more of a slimmed down operation were c I got some info from the company not long ago

[bubsy2] 06/8/2020 19:56

Any one know when finablr starts trading

[bubsy2] 06/8/2020 19:55

When is it going to relist any one know

[babbler] 06/8/2020 11:16

News out. Travelx back.

[bubsy2] 04/8/2020 20:30

All I know is Sept 6 is deadline day

[bubsy2] 30/7/2020 20:12

This was part of my pension what can u do I'm hoping

[computercoders] 30/7/2020 09:00

As Shetty's accounts been frozen?

[computercoders] 23/7/2020 13:34

I agree with avc unfortunately. Many aspects of this world are just beyond corrupt with no transparency or accountability.

[acv74] 23/7/2020 12:54

I'm sure the investigation will exonerate Shetty, some lower down plebs will be hung out to dry.We won't get a penny back, we've been conned.

[farrugia] 23/7/2020 10:11

'I suspect this is correct, but who carries the can? Surely a fraudulent IPO like this must have consequences?'

SHAREHOLDERS AND BONDHOLDERS GET SCREWED. WE CARRY THE CAN. THEY STOLE FROM US. IF WE ARE LUCKY SHETTY AND HIS BAND END UP IN JAIL.

[acv74] 22/7/2020 20:14

Who controls the company who's paying the bill?