London Asia Capital Share Discussion Threads

[dougcsv] 04/11/2011 17:24

my thanks to an associate for bringing this to my attention.

I hope the costs were high is all I'll say.

[dougcsv] 03/11/2011 17:32

Spoke to the company - Issue of certs not prompted by them. Wrote to Selftrade and this is their response....

Dear Mr

Thank you for your message.

I can confirm that this stock delisted in 2008 and as we are no longer available to hold this delisted stock in our Nominee Sevice we have had to withdraw your holding as a certificate. Please see below details for further details on the delisting:

DELISTING

The Company has announced that it expects the Company`s admission to trading on the AIM Market of the London Stock Exchange will be cancelled with effect from 7:00am on 8 December 2008 pursuant to Rule 41 of the AIM Rules for Companies. The Company will remain an unquoted company in the immediate term. However, it is not proposed that the Company be re-registered as a private company. The Directors will consider liquidating investments and returning cash to shareholders.

Apologies for not having clarified this in the letter.

Please feel free to come back to me if you require any further assistance going forward and I will be more than happy to help. Please mark your return reply for my attention.

Kind Regards,

Selftrade Corporate Actions

[topvest] 29/10/2011 14:41

We just need some sort of return here, rather than endless discussions and shareholder funds going to directors and ongoing costs. I suspect the certificates point is just Selftrade clearing their systems of private companies. Mine are still in a direct crest account, and so not had mine put back into certificated form yet.

[loverat] 29/10/2011 09:11

Rotors

I'm not talking about who sent out the certs. I am talking of the situation here generally and comparing that with what happened at Langbar. DB is a good recovery specialist, that is not in doubt. What is in doubt is the ability to communicate with shareholders and how much shareholders will see of whatever is realised.

I was also referring to the previous directors, Negal and Bailey who were the first to give shareholders some hope and stopped this company falling back into the hands of Littlewood and the others on more than one occasion. With them gone I am not hopeful.

[rotors] 28/10/2011 21:30

Come on Loverat - you can do better than this!

How do you know that David Buchler has instructed Selftrade to send out LAC certificates?

And only Selftrade?

Post no. 2 - 'people who saved this company' - what are you talking about?
This company has little prospect of salvation....

And who are the 'bunch of shysters'? Simon Littlewood and friends?

[loverat] 28/10/2011 19:32

IMO you might as well chuck the certificate in the bin.

Unfortunately the people who saved this company passed the responsibility over to a bunch of shysters.

[loverat] 28/10/2011 19:28

Oh dear - the last five posts seem like the posts on the Langbar thread.

No communication, no explanation, no nothing.

Pretty typical of David Buchler.

[unionhall] 27/10/2011 10:57

Has anyone rung them ?

[tokyojohn] 27/10/2011 10:53

Ditto here. No explanation given.

[microscope] 25/10/2011 12:30

Perhaps Selftrade are auditioning for a new darts team?

No idea!

[dougcsv] 25/10/2011 09:55

Likewise - I don't know either but I'll try to find out.

[jettyboy] 24/10/2011 21:17

ive had my share cert sent to me by selftrade?
anyone know why?

[irenekent] 30/9/2011 09:41

Bearing in mind the questions being raised in the USA about the efficacy of the accounts of Chinese companies listed on US exchanges I am not suprised at the difficulties encountered in trying to get to the bottom of the LDC situation. I think the Chinese have a rather cavalier attitude to accounting depending on who is asking the questions. Whilst trying to impress as a first world country they are in fact continuing to operate like a dodgy banana republic. I don't hold a great hope of getting our money back although you never know! An announcement would be useful as to progress.

[rotors] 14/9/2011 16:32

Also received a letter; strange, that they should be running a report on a company which has not traded for years, with dubious asset backing, qualified accounts and no immediate prospect of paying any cash back to the original shareholders who have been cheated.

[napoleon111] 14/9/2011 13:54

havnt heard anything recently :(

[curt3] 14/9/2011 10:36

I have just received a letter from Beaufort International saying they are preparing a report ( for free) on London Asia. Probably just a marketing ploy as they have specifically requested my phone no. However wondering if there are any background machinations going on ??

[vish65] 13/9/2011 10:52

With a nummber of court hearings planned for Oct/Nov this year and the Khadi legal threat to deal with , might be a a while yet till we hear any meaningful news on outcomes and developments. Just got to sit it out

[curt3] 13/9/2011 10:25

just trying to keep this bb alive ! any news, any views ?? surely we are entitled to some update even if its only to say things are progressing !!

[microscope] 28/7/2011 16:49

The comment about saving money by not sending out the accounts in future years - that suggests to me that they are thinking years before shareholders get a resolution.
Hope I'm wrong - and it is certainly good to see people 'putting in the miles' to try and unravel the mess.

[phbatbjco] 28/7/2011 16:08

Talk about cutting costs!!! per annual report, we (the shareholders) have effectively paid £90k in audit fees for a complete disclaimer on the accounts. Great value for money and no risk to Moore Stephens. Wish I could get that type of work. What were they doing on the audit? playing darts,backgammon, poker..................or were their files full of erudite comments and claptrap

[topvest] 27/7/2011 21:18

Yes, but the only progress appears to be an agreement signed to earn them lots of money if they sell the assets. It's the same old story - directors looking to see how they can make some money and we are losing! The accounts have a dislaimer of audit opinion, so not exactly a triumph to get these published. Having said that, suspect none of the accounts would have got published without Toby Parker's input.

Looking to be more slightly more positive it looks like the various legal actions are getting closer and so those who are at risk (we all know who!), will need to try and close a deal to make them go away before someone goes to prison. Still hopeful of getting something, and holding at 3p in my portfolio!

[unionhall] 27/7/2011 19:52

At a brief glance looks like 8.1p per share of which 2/3rds is questionable - so looks goodish for perhaps 2.5p - 3p per share with upside potential.

[unionhall] 27/7/2011 19:34

27 July, 2011

Dear Shareholder

I am pleased to enclose the audited accounts ending 31 December 2010. In addition to the accounts, the contract between the company and DB Consultants together with a summary thereof has also been placed on the company's website www.londonasiacapital.com, to ensure complete transparency.

As I said in my Chairman's Statement, it has taken some time to get to grips with the current position and to formulate an outline of a plan for the future. The plan seeks to recognise the different interests that shareholders have in relation to the company and to chart a way forward to meet these various interests. The majority of shareholders want to see a return of cash and I have worked on a proposition which I have presented to the representatives of certain Chinese shareholders, which might enable a solution to be found along these lines. It is early days, but I should also report that the major Chinese shareholder has also issued a letter before action in relation to the company's holding in Zhongying, which has been reported in the accounts.

I can further confirm that the overheads have been reduced as a result of the resignation of two executive directors and also the closure of the company's office in Piccadilly. There is still much to be done but at least the journey to find a solution to the problems of London Asia Capital plc has begun, and I will report again in due course.

Later I will write to you with details of the Annual General Meeting and a further update. Please do register on the website for "news alerts" as this will be the way that the company will communicate with its shareholders in the future. You can register at www.londonasiacapital.com

Please Note: To save considerable costs, the Company will in the future place the annual Accounts on the Company Website: www.londonasiacapital.com and only send out the annual Accounts to those shareholders that request them.