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HAO Hanover Cap

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Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hanover Cap LSE:HAO London Ordinary Share GB0032084146 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- 0 GBX

Hanover Cap (HAO) Latest News

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Hanover Cap (HAO) Discussions and Chat

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Hanover Cap (HAO) Top Chat Posts

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Posted at 20/2/2005 23:03 by rheiner
euphos I think this is it [in more ways than one ?]


twisted trail with the risky Mr Lumb
EVERY week, Tony Hetherington replies to readers' letters, adding comments, advice and the results of his enquiries. If you think you are a victim of financial mismanagement, or want advice before investing, write to Tony Hetherington, Financial Mail, 2 Derry Street, London W8 5TS. Sorry, but he cannot give personal replies. Please send only copies of documents - if these are relevant to your enquiry. We regret that they cannot be returned.


D.S. writes: I bought 1,200 shares in Oxygen Holdings. The company's name was changed to Tera Group and later to Hanover Capital Group. But the last I heard was in 2002 when I was sent my share certificate. I have been unable to contact the company since then to establish the value of my shares.


I did find that Stephen Lumb, a Hanover director, is now working for a company called Great Western Gold, so I phoned his office and left a message. I also e-mailed. There was no response.




THIS is the sort of thing that gives investing in shares a bad name. Records at Companies House showed that Hanover Group's most recent accounts were for the year ended September 2002. They were so old as to be useless.


New accounts were due by April 30 last year, but had not arrived. This is an offence. The most recent list of shareholders was also old, with no updates since 2002. Again, an offence.


I tried to contact Hanover at its registered office in Manchester. It was no longer there, but had failed to tell Companies House. Another offence.


I also found that the company secretary quit eight months ago and had not been replaced. Yet another offence.


Finally, I tried to find Hanover boss Stephen Craig Lumb, a 39-year-old South African, at the London address he gave to Companies House. You guessed, he was not there. And yes, company directors who fail to notify Companies House when they change address are committing an offence. I have now traced Lumb to a flat in Westminster. And miraculously, a recent burst of activity has given Hanover a new registered office and a new company secretary. But I am afraid your company is still a mess.


When you invested, Hanover was listed on the Alternative Investment Market, which handles smaller and often riskier shares. In April 2003, Lumb was appointed chief executive. The company's adviser, accountant Grant Thornton, immediately resigned.


Aim companies must have professional advisers or lose their stock market quote. Lumb announced that a new adviser would be appointed within a few days, but this has never happened, so trading in your shares was first suspended, then they were delisted.


You might also be surprised to find that the internet and technology company you bought into has been turned into a mining investment business.


Lumb told me: 'Hanover is not trading. It holds various investments and has not effected any further investments since having been delisted from Aim. An offer is being circulated to the shareholders of Hanover during next week whereby Hanover will be acquired by a USA-quoted company.'


You should look hard at this US firm. I will be surprised if it has a proper quote on a respected stock exchange.


Lumb is no stranger to controversy. In 2001, he was chief executive of a South African company, Igaming. Its shares were at the centre of a price manipulation inquiry after they soared unbelievably high for no clear reason.


Trading was suspended after Igaming lost its stock market sponsor and because its accounts were late. Eventually they were delisted.


He should now ensure that Hanover is not simply struck off by Companies House. Officials have issued repeated warnings about Hanover's misconduct under his leadership and I can tell him they are running out of patience.


It is also possible the Department of Trade & Industry might investigate.


I am afraid the future for your investment looks bleak indeed.
[
Posted at 20/2/2005 20:44 by euphos
News article in the Mail on Sunday which investigates HAO. Mentions that there maybe some news this week!!! I doubt very positive though...according to the article!!!
DYOR
Posted at 29/1/2005 17:01 by mad mac
Spectacular share, that GWGO: $0.375 to $0.001 in six months, must be a record.

I guess the company doesn't care about its share price as it's only relevant when you are trying to 'sell' shares to new suckers.

But what is strange is that all this seems to have happened without anybody actually seeing any WAGO/GWGO share certificates - has [i]anybody[/i] on this thread received any communication from Hanover Capital Group plc?

What about stuff like AGMs? Anybody been invited to one recently?

If anybody is interested in doing something positive about this, like going to see the DTI for example, or maybe a shareholders' voluntary winding up, please contact me:
HAO-action@cays.ndo.co.uk
Posted at 11/1/2005 13:37 by 2441
WAGI ticker change to GWGO.OB

The stock also appears to have taken a hammering since HAO holders were 'awarded' this stock in lieu of HAO.



However there has been some good news since our 'award'.



And drilling is to commence on the old HAO concessions in Mali.......



Well it was a little fun checking out what might have been.............
Posted at 27/10/2004 18:49 by annbar
West Africa Gold, Inc. Declares a Stock Dividend


Company Declares a 20% Stock Dividend to Reward Its Shareholders


NEW YORK, NY -- (MARKET WIRE) -- 10/25/04 -- West Africa Gold, Inc. (OTC BB: WAGI) announces that the Company has authorized a 20% (twenty percent) dividend of the Company's common stock for its shareholders of record as of Monday, November 8, 2004. The distribution to shareholders should be completed by the end of November 2004.

With this, the Company wishes to thank all its shareholders for supporting the Company's efforts in the development of the Company's mining properties in North America and in Mali, West Africa.

Michael G Saner, the CEO of West Africa Gold, Inc. said that he was delighted that shareholders were being rewarded in this manner and hoped that this would contribute to increased support for the Company and its Mining Exploration efforts and hoped that this would offset some of the losses suffered by the Company's shareholders caused by the unexplained and very substantial fall in the Company's share price in recent months.

About West Africa Gold Inc.:

West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.

Contact:
West Africa Gold Inc.
+ 1 212 672 1851
E Mail : investor@westafricagold.com
Posted at 18/9/2004 10:25 by wikroberts
Friday's price on WAGI: $0.02 (down from the reported $0.15)!

I've emailed WAGI twice, asking them when shares were distributed (their own announcement used the past tense months ago). I have had no response.

My best guess: WAGI and HAO only exist to shaft the small investor. Doubtless we will get our shares just about the time that they become worthless.
Posted at 14/8/2004 09:36 by wikroberts
Back in June the value of these WAGI shares was around $0.15, with very little volume.
Since then the volume has inceased dramatically, and the price has crashed to $0.038 (as of today).
Did some favoured shareholders get their hands on WAGI stock and take the profit?
It seems the rest of us have been shafted yet again.
Posted at 17/7/2004 08:44 by wikroberts
West Africa Gold Inc’s significant shareholder to distribute its entire restricted shareholding.

Significant shareholder in the Company, Hanover Capital Group plc to distribute its entire holding of restricted shares in the Company to its shareholders.

NEW YORK, June 15, 2004 -- West Africa Gold Inc. (NASD OTC BB:WAGI) announced today that it has been advised by a significant shareholder, UK based, Hanover Capital Group plc (“Hanover̶1;), that Hanover will now commence with the distribution its entire shareholding in West Africa Gold Inc, that being in the amount of 638,958,360 shares of restricted shares of Common Stock in the Company, to Hanover’s shareholders. This represents a 30.41% shareholding interest in the Company at this time. Stephen Lumb, the Chairman of Hanover Capital Group plc, the UK Based Investment Company said today that this shareholding in the Company is being distributed to our shareholders in order to unlock value and to complete the process of “winding down”
Hanover’s business. Lumb said that for every one Ordinary Share in Hanover, its shareholders would receive 3.3334 shares of West Africa Gold Inc restricted Common Stock. He added that Hanover’s share in the Company had been extremely beneficial for his shareholders and that the value being released to them from this “unbundling221; represented a distribution of stock valued at approximately three times the price that Hanover’s share had ever traded whilst quoted on London’s Alternative Investment Market “AIM”. Stephen Lumb is a Consultant to
West Africa Gold Inc in respect of all of its Corporate and Structured Finance transactions. Richard Axtell, the President of West Africa Gold said he was delighted with this move by Hanover and added that it would bring a further 8,500 shareholders to West Africa Gold, with these new shareholders being primarily based in the United Kingdom.

Many thanks to "trading blue" for that news.

There is no mention of timescale, and no info from my broker (Barclays). Has anyone heard anything?
Posted at 16/7/2004 22:30 by trading blue
press release on 15-6-2004,3.33 shares for
every hanover share.
Posted at 24/3/2003 01:34 by captain swing
U & S was mentioned in the Private Eye article of a few weeks ago which was referred to on one of the other threads I believe. I've not read that article & have no idea what is going on here but really, the share price movements on this and Jubilee (JIT -- share swap with HAO) have flashed a warning. After all, JIT holders have seen their capital scrunched 20% in recent weeks.

HAO gold mining interests are in Mali, OK, fine. Perhaps some connection with Randgold? Don't know
Hanover Cap share price data is direct from the London Stock Exchange

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