Galileo Inn. Share Discussion Threads

[hugepants] 08/10/2004 08:03

Whats the latest here?
Has anyone received anything back from this pile of nonsense?

[jubjee] 30/6/2004 07:27

City diary
Edited by Simon Goodley (Filed: 30/06/2004)




The Plumber puts the boot in

Paul "the Plumber" Davidson is feeling pretty chipper. On Monday the remaining three members on the tribunal assessing the Financial Services Authority's investigation into his controversial spread bet resigned, over fears they could be accused of "bias". It reminded someone of this old tale.

When Davidson was raising money for Oystertec he arrived at a presentation and started laying out his products on the table. As he did, it became apparent he was wearing a very expensive watch. "I have a rule," said one observant banker. "I never invest in a company where the chief executive wears a £10,000 watch." "It didn't cost £10,000," hit back Davidson, "It was "£30,000."

He raised the money but did Davidson have to sell the watch to fund his defence? "I'm wearing it now. I've still got it along with the other ones," he brags before turning back to his favourite topic. "The problem with the FSA is that they don't know when they've been knocked out. What they don't understand is when they've lost. The referee's finished it; there's nobody here anymore." OK, OK, I get the message.

[jubjee] 30/6/2004 07:26

City diary
Edited by Simon Goodley (Filed: 30/06/2004)




The Plumber puts the boot in

Paul "the Plumber" Davidson is feeling pretty chipper. On Monday the remaining three members on the tribunal assessing the Financial Services Authority's investigation into his controversial spread bet resigned, over fears they could be accused of "bias". It reminded someone of this old tale.

When Davidson was raising money for Oystertec he arrived at a presentation and started laying out his products on the table. As he did, it became apparent he was wearing a very expensive watch. "I have a rule," said one observant banker. "I never invest in a company where the chief executive wears a £10,000 watch." "It didn't cost £10,000," hit back Davidson, "It was "£30,000."

He raised the money but did Davidson have to sell the watch to fund his defence? "I'm wearing it now. I've still got it along with the other ones," he brags before turning back to his favourite topic. "The problem with the FSA is that they don't know when they've been knocked out. What they don't understand is when they've lost. The referee's finished it; there's nobody here anymore." OK, OK, I get the message.

[cappagh] 14/6/2004 18:45

I'm expecting us shareholders to get begging
letters asking us to help pay his fines.

[currypata kai] 14/6/2004 11:17

Does anyone know if shareholders will get any money back ?What was said at the agm ?

[simonevans] 13/6/2004 19:05

Mr Davidson does not just want to fight the fine. He also wants compensation. "I'm looking for £100m-plus in damages. It's been two and a half years since I've been in work. It's made me ill. It's driven me to the point of distraction."

Does make you laugh doesn't it. Let's hope he never gets to be involved with a public company again.

[jubjee] 10/6/2004 12:17

Gamblers defy FSA over £1.2m fines
Date entered: 30/05/2003
Source:

3 of the City's most famous spread-betting gamblers plan to defy the Financial Services Authority (FSA) over a series of fines totalling £1.2m.


Paul 'The Plumber' Davidson, former broker Nigel 'The Spaniard' Howe and Ashley Tatham, who works for spread betting company City Index, face fines of £750,000, £350,000 and £100,000 respectively.


Davidson was a majority shareholder in Cyprotex, a software company that floated on the Alternative Investment Market (AIM) in February last year.


A bet made with City Index could have netted Davidson £175,000 for every 1p rise in its share price.


Davidson said that he would 'never, ever' pay the fine. 'The FSA has ruined my reputation, taking more than a year to investigate this.'


The three men have 28 days in which to appeal against the fine.

[jubjee] 10/6/2004 12:17

Gamblers defy FSA over £1.2m fines
Date entered: 30/05/2003
Source:

3 of the City's most famous spread-betting gamblers plan to defy the Financial Services Authority (FSA) over a series of fines totalling £1.2m.


Paul 'The Plumber' Davidson, former broker Nigel 'The Spaniard' Howe and Ashley Tatham, who works for spread betting company City Index, face fines of £750,000, £350,000 and £100,000 respectively.


Davidson was a majority shareholder in Cyprotex, a software company that floated on the Alternative Investment Market (AIM) in February last year.


A bet made with City Index could have netted Davidson £175,000 for every 1p rise in its share price.


Davidson said that he would 'never, ever' pay the fine. 'The FSA has ruined my reputation, taking more than a year to investigate this.'


The three men have 28 days in which to appeal against the fine.

[mrkournikova] 25/5/2004 17:15

Hi guys,

Well looks like Davidson has well and truly got his comeuppance. He did absolutely nothing for Galileo, and left the company in the hands of Mark Warburton.

I see that Sense-Sonic is still in operation. It looks as though Glentronics, a Northern Ireland based company specialising in electronics manufacturing took them over for £400k last year.

I expect that a letter will be sent to shareholders regarding yesterdays EGM, when this is sent though is anyones guess. I would imagine this would be quite soon actually. My holding is in CREST, so I'll have to get in contact with my broker to see what's going on.

Best Wishes,

Mr K

[jubjee] 25/5/2004 12:10

From the telegraph 22.05.04

Plumber's torment

Has Paul Davidson, the controversial trader known as The Plumber, hung up his wrench for good? The legal case against him by his former company Oystertec continues, but he says he's too sick with stress to go to court any more.

"I'm retired," he says. "But it's not a life of leisure, it's a life of torment by all these lawyers."

[nav_mike] 25/5/2004 07:27

Totally understandable that none of us could/would make the meeting and thus their masterplan falls into place......allow a nice long delay, then sweep everything quietly under the carpet.

A classic example of corporate Britain can exploit the retail public and get away scot free. Nope Im not moaning as I learned some valuable lessons, but how none of these guys are behind bars is beyond me

[jubjee] 25/5/2004 07:21

Not me either Im afraid...........welcome back MrK.

[cappagh] 25/5/2004 06:50

Not me, lost ennough money on them already.

[mrkournikova] 24/5/2004 13:12

Hi cappagh,

No hard feelings whatsoever.

EGM today in Manchester, I wonder if anyone went along?

Anyone???

Mr K

[cappagh] 17/5/2004 06:42

mrk
No hard fealings, I hope, from some of our exchanges.
None from me.
Good luck with future ventures.
This bit is not ment as a knock
but if pleased that you have accepted
that GAI was a dud.
I'm into mxc at the moment and hoping
that it does not go the same way. After
the GAI experience my eyes are open wider.
Once again, Good luck to you and to other
ex-gai holders.

[mrkournikova] 16/5/2004 21:06

Hi Cappagh,

Galileo sold its last remaining asset, Sensesonic, for approx. £400,000. The market was alerted of this disposal on 19th September 2003, this disposal was the company's last remaining asset. On 30th September 2003 the company announced that it was proceeding to an orderly wind up in a solvent manner.

It would appear that the winding up is virtually complete and as such the directors have called an EGM for 24th May, 2004.

I just look forward to finally putting this dud investment behind me, I wonder how much the "very modest return" will be that us shareholders will receive. Probably very modest indeed!

Is anyone attending the EGM in Manchester? Any further information?

Best Wishes,

Mr K

[cappagh] 08/5/2004 13:16

Heard from Barclays about the meeting
and the offer to go. Lost ennough without
spending good money going to a pointless
meeting. IMHO Fload them with E-mails,
phone calls,letters or anything to get their
backs up and to show them how much they
let us down and wasted our money.

ps
What has happened to the companies GAI
invested in?
If the Co, gai was going to float are still going,
have we still got an interest in them?

[swiftnick] 02/5/2004 12:40

4. Why, in defiance with company law, has the company failed to hold an annual general meeting?