Paragon Diamond Share Discussion Threads

[club sandwich] 06/10/2017 15:08

If it carries on like this Nomads will be bankrupted and those left will become uninsurable...

[club sandwich] 06/10/2017 14:44

Sounds like class action suits are all the rage - and this one also seems to have some funding arrangement I wasn't previously aware of...

hxxps://www.shareprophets.com/views/31968/class-action-lawyers-now-have-more-than-1000-claimants-against-watchstone-over-quindell-fraud-confidential-letter-arrives

[club sandwich] 06/10/2017 10:39

"The censure also demonstrates the importance of keeping the nominated adviser informed of
developments and to seek advice. In this case, the failure to inform the nominated adviser
without delay of the true position regarding the funding resulted in the nominated adviser not
being in a position to be able to advise and guide the Company on its notification obligations
to ensure such relevant information was properly disclosed. "

[club sandwich] 06/10/2017 10:28

"BREACHES OF THE AIM RULES
11. It has been determined that the Company breached:
 AIM Rule 10 by failing to include in its notifications the fact that it was aware of
difficulties in obtaining funds from the entity that was financing the acquisition;
 AIM Rule 31 by failing to keep its nominated adviser informed of the difficulties it
was having in obtaining these funds and failing to seek the nominated adviser’s
advice on the AIM Rules; and
 AIM Rule 22 as the board (as comprised at the time of the events and not the
current board) did not fully co-operate with the Exchange during its investigation
into these breaches.
12. An AIM company has a primary obligation to ensure that the information it notifies complies
with AIM Rule 10. Accordingly, a company must ensure that notifications provide a clear
understanding of the matters being disclosed and are properly caveated where necessary.
Compliance with the AIM disclosure obligations is essential for market confidence and failure
to comply is unacceptable. Where there is actionable evidence, the Exchange will bring to
account companies that fail to meet the standards of disclosure required on AIM."

[club sandwich] 06/10/2017 10:16

Sections 5 and 6:

"5. As at 19 March 2015, certain of the directors had received further information which gave rise
to real concerns that the monies might not be forthcoming from the finance provider, and
were unable to get in contact with the provider to draw down the funding. The Company’s
Finance Director was not informed of the difficulties in contacting the finance provider nor this
further information. Whilst the Company informed the nominated adviser of a possible delay
due to the release of existing security (over assets of the enlarged group), the directors who
were in receipt of the relevant information did not inform the nominated adviser of the
difficulties it was having in the draw down of the funding. However, these directors did discuss
these concerns with some of its other advisers in Australia, such as its lawyers, auditors and
accountants.

6. On 27 March 2015, the Company notified that the final condition for completion of the
Acquisition would soon be met – being the release of security over the assets of the enlarged
group. The Company notified that completion of the Acquisition was therefore expected on or
around 10 April 2015. The Company failed to caveat the information in its notification with
details of the risk to completion created by the uncertainty in respect of the financing. "

Seems to be a carbon-copy of Paragon. Why weren't s'holders told that the ITGT and Acrux 'funding' (which I do not actually believe ever existed, but assuming they did) had been delayed or would not complete - as I assume must have been the case else why was the company 'temporarily' suspended pending 'clarification of its financial position'?

But then I think this was all one massive fraud, and that none of the alleged funding ever existed. Why else, in the PI interview of 2nd October 2015 did Manduca say that ITGT had been moved downstream to the polished side when - according to superg's research - ITGT had been struck off for failing to re-register its company filing days before and was no longer in existence?

[rickyhatton] 06/10/2017 09:55

In case this has any read across help for you all here

[lama_rail] 02/10/2017 21:05

Thats much better

[club sandwich] 02/10/2017 19:15

that was the old Club Sandwich. This is the newer, more focussed version ;-)

[lama_rail] 02/10/2017 17:19

Im not feeling a lot of love here.

[ilovefrogs] 02/10/2017 17:03

Yes CS, your posting history on this Board shows you to be last man to be distracted by 'petty squabbles'.....Ha! (couldn't resist...)

[club sandwich] 02/10/2017 14:25

As I've said before, with one or two exceptions I'm happy to let bygones be bygones. My enemy's enemy is my friend, and in this context the enemy is Northland and Manduca - we must never lose sight of that or be distracted by petty squabbles. I think lama_brain is an idiot, but if he's seen sense and joined the CA as far as I'm concerned he's welcome.

Doesn't mean I'm going to unfilter him, though ;-)

[ilovefrogs] 02/10/2017 14:19

Killjoy..;-)

[ilovefrogs] 02/10/2017 12:57

We could of course prove it CS. Any emails which just went to the CA group which contained information upon which we might pose a simple question...?

[club sandwich] 02/10/2017 10:54

So lama_brain is claiming to be part of the CA now, is he? What about his concerns around counterclaims and Peter Petyt? You ask me he's either a hypocrite or a liar, and in either case not really worth bothering with...

[ilovefrogs] 02/10/2017 10:52

Stirring the pot lama? Smoking it is more like :-))

You're part of the CA? So what about all that guff you posted around counter-claims then? What a funny chap you are ;-)

[lama_rail] 30/9/2017 11:34

Squirm, cough, cough? Who speaks like that? Look at me I'm cough, coughing at the thought of you guys doing a class action.

Im part of the class action already. Youve just assumed Im not. No win, no fee. Why wouldnt I be? I can still take the proverbial out of you guys and be part of the CA you know.

[club sandwich] 29/9/2017 14:54

well to be exact it won't go forward until the funding application has been successful. Pretty sure CL are straining at the bit to take the case, so hopefully they'll persuade the funders, but of course we can't be sure at this stage.

[ileeman] 29/9/2017 12:28

Funny seeing people squirm *cough cough* lama_rail because class action is going forward.

[lama_rail] 28/9/2017 16:57

I like to stir the pot. What can I say? Anyway, I've told you I'm Barry Bryan or was it Bryan Barry, I can't remember now? Last I heard Bryan wasnt talking to anyone anymore and as for Barry, well hes ancient history. What a conundrum this is. Just who is the real Barry Bryan? Its better than Dallas! Who shot Barry Bryan? And who really gives a shot? And look at that...........CS knows the right word for window. I suppose its all those years of selling double-glazing door-to-door. Whod have thunked that?

[club sandwich] 28/9/2017 16:27

no, it wasn't auto-defenestration ;-)

[ilovefrogs] 28/9/2017 15:17

He threw himself out of a window....!? The fact that he's posting at all after that is impressive? (Alternative viewpoint - he couldn't even get that right! I mean, gravity does most of the work, doesn't it....;-))

[club sandwich] 28/9/2017 12:31

Bryan's email was 1st August, and his defenestration the same day...

[ilovefrogs] 28/9/2017 12:05

Lama - sure, you're all laughs now, but when you first started posting (under this moniker at least) it was all serious stuff about counter claims, making baseless accusations about Peter Petyt - so nice try. Incidentally, this was around 10 August, almost exactly the same time when a certain Vince Bryan was barred from the CA, which is interesting......;-))