Infinity Eng. Share Discussion Threads

[x1000] 08/6/2023 17:42

Maybe Putin hacked the accountancy firm with a view to grabbing our oil rights!

[x1000] 08/6/2023 17:30

Special dividend for us or Gerwyn gets to keep everything??!!

[ochs] 08/6/2023 12:35

@WB thank you - after all these years you really couldn't make it up! Sounds like utter incompetence on all parts.

[wokingblade] 08/6/2023 11:11

Unfortunately, it seems the dog has eaten our homework ...

I received the following in a letter:

Quote

Information for all shareholders

Whilst the board is continuing to pursue a potential transaction, shareholders should be aware of an issue, outside the control of the board, that has arisen and which the board is endeavouring to resolve.

The company has retained a prominent accountancy firm (understood to employ more than 7000 people) for several years to act as its outsourced accounts department, receiving invoices, paying creditors, liaising with the bank, etc. In this capacity, the accountancy firm has retained for safekeeping substantially all of the company's accounting records.

The board has been informed by the company's accountants that those records have been mislaid and are, in all likelihood, irrecoverable. The firm has assured the board that they have made exhaustive efforts, for quite some time, to recover these records, but they have admitted to the board that they have not been able to do so.

This severely hampers the company’s business plans. In particular, the company is effectively prevented from relisting on a Stock Exchange as it would be unable to satisfy financial due diligence without historic information readily available.

There is a procedure for seeking redress in these circumstances, and the board has triggered that procedure. The board has made it clear to the accountancy firm that it expects to be properly compensated, with the level of that compensation to be determined by experts. The board will provide further information to shareholders as that process progresses.

Unquote

You really couldn't make it up.

WB

[ochs] 08/6/2023 10:47

Sounds a bit ominous - thanks for sharing.

@x1000, your post from 6 May, apols for delay - what I was referring to was what @WokingBlade posted on 12 Jan...

"EGM to be held 23 Jan in Guernsey. Proposed merger of Infinity and Transgas owned by Gerwyn Williams (CEO of Infinity):

Infinity Energy Limited (“InfinityR21; or “the Company”) has agreed to acquire 26% of Transgas Limited, a company owned by Gerwyn Williams, Infinity Energy’s CEO. As part of that acquisition, the Company has announced that it is currently seeking a listing on the Standard Segment of the Main Market of the London Stock Exchange. Any queries should be directed to Peterhouse Capital. Gerwyn Williams, being the vendor in the acquisition which forms part of the listing, cannot respond to any queries as the process is a related party transaction carried out on an arm’s length basis.

I asked for accounts and got the reply that there are none due to problems with accountants :~("

[beginner3] 06/6/2023 16:54

25th of May in Companies House

Infinity Energy Limited
(previously Infinity Energy S.A.)
("Infinity" or the "Company")
Shareholders’ Communication
A letter will soon be sent to all shareholders relating to an issue that has arisen and
which the Board is endeavouring to resolve.
Please note that those holding shares in Depositary Interest accounts are not the
direct shareholder and will therefore need to contact their respective Nominee to
obtain a copy of the letter.
The communication is confidential to shareholders of Infinity Energy Limited.

[x1000] 08/5/2023 17:46

A Confirmation Statement has been sent to Companies House. I just received notification of it today. I guess that signifies there is still a company there.

[phil1969] 06/5/2023 20:59

I got all excited then.
Got an email notifying me of a post on the INFT board

[x1000] 06/5/2023 19:26

Ochs, I can't find @WokingBlade so please may I ask if you are in a position to share any news? Thanks

[ochs] 16/1/2023 18:13

I'm beginning to get hopeful again after @WokingBlade's helpful update ;)

[phil1969] 16/1/2023 18:10

It’s a possibility but if there’s a big fundraise we be diluted to no existence.
Although Gerwyn has a fair chunk of INFT already and he should want to maximise the value of this holding.

[drrichard] 16/1/2023 17:52

God Almighty, do you think we might actually be worth something?

[wokingblade] 12/1/2023 13:00

EGM to be held 23 Jan in Guernsey. Proposed merger of Infinity and Transgas owned by Gerwyn Williams (CEO of Infinity):

Infinity Energy Limited (“InfinityR21; or “the Company”) has agreed to acquire 26% of Transgas Limited, a company owned by Gerwyn Williams, Infinity Energy’s CEO. As part of that acquisition, the Company has announced that it is currently seeking a listing on the Standard Segment of the Main Market of the London Stock Exchange. Any queries should be directed to Peterhouse Capital. Gerwyn Williams, being the vendor in the acquisition which forms part of the listing, cannot respond to any queries as the process is a related party transaction carried out on an arm’s length basis.

I asked for accounts and got the reply that there are none due to problems with accountants :~(

[x1000] 16/11/2021 11:32

The company is still alive. I've had an email to the effect that they are still working on things.

[x1000] 16/9/2019 20:10

Had a reply: out of the company's hands.

[x1000] 07/9/2019 18:22

No. Emails not replied to.

[cabster] 01/9/2019 09:37

Just checking in. Anyone heard owt?

[joecase] 11/7/2019 09:44

well spotted thank you having stock in this company I have been dropping in from time to time now looks as if they will list on main

[drrichard] 09/7/2019 09:51

From LSE, INFT BB now active again

For those who missed it09 Jul 2019 09:34
Infinity Energy Limited
("Infinity" or the "Company")
Completion of Migration & Listing Update
Following the Company’s announcement of 31st January 2019, Infinity is pleased to announce that the Company was successfully registered in Guernsey on the 2nd May 2019 and deregistered from the Luxembourg Business and Trade Register on 27 June 2019 with an effective date of 2nd May 2019. The Company now trades as Infinity Energy Limited but remains the same legal entity.
The Company’s registered address is: -
1st Floor, Albert House South Esplanade St. Peter Port Guernsey GY1 1AJ
Infinity’s migration from Luxembourg to Guernsey was a very important milestone in the Company’s planned route.
With regards to the listing of the Company on the Standard Segment of the Main Market of the London Stock Exchange, a draft of the Prospectus containing detailed inputs from all advisers has been submitted to the FCA (Financial Conduct Authority – previously the UK Listing Authority or UKLA).

[x1000] 13/6/2019 22:07

Imminent in AIM terms could mean anything !

[x1000] 13/6/2019 22:06

Imminent in AIM terms could mean anything !

[cabster] 16/5/2019 18:17

Migration to Guernsey completed earlier this month so imminent

[7767] 29/4/2019 15:08

Anyone know if/when returning to market.

[7767] 26/4/2019 14:13

Now seen, but no indication of return to the market??

[cavemanlc] 26/4/2019 14:09

Loads of people managed to- add cavemanlc on twitter and I will send again. It’s being amended here