Sofia Prop Share Discussion Threads

[joeblogg2] 19/12/2012 13:53

Hi mark. I don't think so as when I went to OCH EGM on Friday I asked Guy if they were involved here and he said "no". Can u e-mail me on [e-mail]. thks

[markt] 19/12/2012 13:51

BTW
SFO, FSA, AIM regulator have been asked to look into OCH

if Sofia PIs asked them to look at Sofia as well....maybe it would increase the pressure for them to look at the operation of both companies and to see that the regulations/laws have been complied with.
---

To form an action group.....if one of your active posters puts up an e-mail address for themselves...and asks interested persons to e-mail to them....then you can progress from there I think.
(and if you want, take a look at how the OCH action group started and developed, now with its own website and msg board and getting more organised this week, finding out our rights etc...)

[markt] 19/12/2012 13:45

Hello Sofia Prop. shareholders
...from Orchid Dev. Grp. shareholder (OCH)

You have any idea about the possible companies that Sofia wants to back into Sofia Prop. ?
Is there any chance that it could be any/some of the subsidiaries of OCH ??

[bozzy_s] 19/12/2012 13:40

300k, luckily costing under £3k but I don't like the idea of being robbed by the back door so to speak. i.e the board deliberately running the company into the ground and stealing our assets from administration. Can't let them do that. Need to be in a position to buy those assets ourselves.

[joeblogg2] 19/12/2012 13:33

It really depends on rathbone and I will try to contact them as I think it is probably just me and you holding this?

[tomboyb] 19/12/2012 13:25

Form some sort of action group - How many shares do we have between ourselves ? - I'd like to get a figure of some sort -

I'd get hounding their broker rather than anyone else because the company has one standard response and we own more shares than the directors themselves!

[joeblogg2] 19/12/2012 13:05

tom. anything we can do as I have 700k shares at that cost me at least 12k :(

[tomboyb] 19/12/2012 12:59

Its taken them 6 months NOT to produce a set of accounts (now outside the scope of AIM rules) - Their broker PG has a lot to answer for here -

[tomboyb] 19/12/2012 12:49

Its more akin to a Banana Republic - 35 of NAV and NO agreement from Pluto whose dir is an ex-dir of SPFL - !

[joeblogg2] 19/12/2012 12:45

tom. looks like I could get stuffed here as well as OCH. I hope Rathbone take them to task as they hold 15%!!
Rathbone Brothers PLC - 10,069,910 15.01
Vidacos Nominees Ltd - 7,956,004 11.86
Chase Nominees Ltd - 6,660,671 9.93
BNY (OCS) Noms Ltd - 3,800,000 5.67
Securities Services Noms Ltd - 3,236,789 4.83
Bank of New York (Nominees) Limited - 2,815,000 4.20

[tomboyb] 19/12/2012 12:33

"Accordingly, it is expected that admission of the Company's shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 31 December 2012 but that, conditional on funding and entry into of definitive documentation for the Acquisition, the Company will seek re-admission of its shares to trading on AIM subsequently."

Complete Boll*x - thats it! These guys are not coming back and there goes our shares.

[tomboyb] 19/12/2012 12:29

The above statement has effectively led to more question rather than ANY answers because whatever - shareholders had already figured out that a lack of clarity of statement would lead similarly to the above -

[tomboyb] 19/12/2012 12:27

"These discussions have progressed extremely slowly since then but still continue."

Why do i feel so skeptical ?

The Company's shares were suspended on 28 June 2012 because it had not published its report and accounts for the year ended 31 December 2011 within the deadline required under the AIM Rules.

Why not? What made it so hard to do so?

The whole thing here is a mess - complete mess. The pluto partnership is part of the ex-director of SPFL? Why has it taken so long for ANY agreement here -

[tomboyb] 19/12/2012 12:23

Shareholder Update
RNS Number : 9210T
Sofia Property Fund Limited
19 December 2012


COMPANY ANNOUNCEMENT

FOR IMMEDIATE RELEASE 19 December 2012

SOFIA PROPERTY FUND LIMITED
(the "Company")
Company Registration Number: 43191
Shareholder Update
The Company announced on 28 June 2012 that it had entered into non-binding heads of terms for a significant acquisition of a group of companies with a complementary real estate portfolio to that of the Company ("Acquisition"). The Acquisition, when made, would constitute a reverse take-over under the AIM Rules.
The Company also announced that it was in advanced stage discussions with a third party providing funding for the Acquisition. These discussions have progressed extremely slowly since then but still continue. Whilst there can be no guarantees on the point, the directors remain of the view that the Company will be successful in securing the funding in question.
The Company also remains in discussions with the Pluto Partnership ("Pluto") with a view to deferring further the repayment of the outstanding loan due to Pluto and crystallisation of security granted therefor. As announced previously, if such deferral cannot be agreed, this would leave the Company with a working capital shortfall.
The Company's shares were suspended on 28 June 2012 because it had not published its report and accounts for the year ended 31 December 2011 within the deadline required under the AIM Rules. Whether or not the Company is successful in securing the funding referred to above, it will not now be in a position to publish its report and accounts for the year ended 31 December 2011 or interim results for the six months ended 30 June 2012 before 28 December 2012.
Accordingly, it is expected that admission of the Company's shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 31 December 2012 but that, conditional on funding and entry into of definitive documentation for the Acquisition, the Company will seek re-admission of its shares to trading on AIM subsequently.
Further announcements will be made as appropriate.
Enquiries:
Sofia Property Fund Limited
Charles Burton

Panmure Gordon (UK) Limited
Dominic Morley
Phone: [phone]

[bill-e] 17/12/2012 12:51

Hi, contacted Panmure Gordon as advised last week, still no responce.
Sent a further email today and will continue to do so on a daily basis.

[the troll] 14/12/2012 19:34

the advice I'm getting ( from my Solicitor ) is; 'unless Mark Alexander's recent e-mail confirming ( categorically ) an RTO's still 'on' constitutes a complete pack of lies ( unlikely ? ), there's very little shareholders can actually do, except express concern at the lack of communication ( which we've already done of course ). after all, the enlarged group has to seek re-admission to AIM in any event......',- anyone understand this, if so, please enlighten me cos I don't ??. astonishing developments over at OCH, though but - seems the IIs have forced a liquidation as opposed to letting the current BOD acquire it on the 'cheap' through the back door ? fascinating stuff, but a mega bummer if you were hoping to sell Monday !

[tomboyb] 13/12/2012 16:42

Any news from the house broker? Anyone contacted PG?

[tomboyb] 12/12/2012 13:07

The big problem here is that these guys will allow this to go and delist hence once delisted outside the scope of AIM rules. It is fairly shocking that they still cannot produce a set of results to announce on AIM and from the director response with full backing from its advisors -

[tomboyb] 12/12/2012 10:04

We are suspended at 3% of Net asset value - Those are signed off asset values and yet we cannot produce the company results - Something ain't right somewhere and shareholders need to have an update -

Suspended at less than 600k with an asset value of over 23mill - !

[bill-e] 12/12/2012 09:58

I contacted Mark Anderson about the situation, his reply is copied below, I am sending similar email request to Panmure Gordon and I will post the reply if I get one.


We have been advised by Panmure Gordon, the Company's NOMAD, that we may not communicate separately with individual shareholders on the questions you have asked, but should issue public announcements to the market as a whole. We will make further announcements as soon as we have any further information to communicate. Best wishes,
Mark Anderson
Sent from my BlackBerry® wireless device

[bozzy_s] 12/12/2012 00:43

Time to prepare for action I think. Has anyone here had experience of being ripped off by a plc - for example Langbar? Setting up a shareholder action group, hiring lawyers, reporting a plc to authorities eg AIM, LSE, Met Police?

Does anyone have contact with SPFL's board of directors? What other companies are they involved with? Where are they? What have they been doing in the 6 months since June, during which time they should have updated shareholders/market of SPFL's position?

[tomboyb] 11/12/2012 09:21

Everyone should get on the blower to their broker (SPFL) - I think they have a lot to answer for -

[bozzy_s] 06/12/2012 14:40

No reply tomboy. I get the overwhelming feeling we've been conned.

[tomboyb] 06/12/2012 09:39

Any reply as of yet Bozzy ?

[bozzy_s] 05/12/2012 20:14

No reply to last night's email. I asked the company to confirm it's too late to complete a RTO before being delisted, whether they planned to announce the 2011 results to maintain their AIM listing, and finally if they were planning to rob shareholders.