Worthington Share Discussion Threads

[sweet karolina2] 09/6/2021 19:35

Companies House now shows accounts overdue.



It probably won't be long before there is another strike off notification. The last one was discontinued when the overdue confirmation statement was produced. The last one only gave 2 months between 1st and final notification rather than the usual 3. Companies House are clearly getting tired of hearing the same old story.

[wfcreserves] 09/6/2021 10:04

Would a lodging of accounts depend on who showed cause that the company be not compulsorily struck off the register?

[sweet karolina2] 03/6/2021 00:08

WHET accounts were due on 31 May - will we see something appear on CH in the next day or so? Or have they given up with this character in the pantomime - it was always more of a pantomime 3 legged donkey than a pantomime horse.

[bbmsionlypostafter] 24/5/2021 00:21

Still don't know what you are talking about. Who is 'he'?

[jackjackjack1] 23/5/2021 22:31

You will when he decides to bite

[bbmsionlypostafter] 23/5/2021 21:05

No idea what that ^^^ is supposed to mean.

[jackjackjack1] 23/5/2021 20:22

Reference to any one been sued yet . To the man who loves an envelope everyone has been looking at there letterbox for so long now . Fair play you won the game don’t think anyone can keep up with you it’s a bit like who blinks first on the staring game . Only problem is you me old mucker can’t see past your own nose .

[bbmsionlypostafter] 23/5/2021 13:52

Anyone been sued yet? The clock is running & every single day posts are timed out.

[filthylucre01] 14/5/2021 07:54

‘Fanof’ considers dazza a genius.
That’s strange, I viewed him as a volatile narcissist with a fragile ego who knows deep down that he is nothing of what he pretends to be.

[johnbri4] 13/5/2021 08:34

Shame. Now we have lost the prize prat from LSE. I fell about laughing trying to imagine how a barely literate truck driver from Bristol was now a self claimed rich man. Welcher, you are one hilarious guy.

[spikeyj] 12/5/2021 23:11

lol, poor neo seems to have lost
it completely (yet again) on LSE.

[roydyor] 12/5/2021 19:51

And I think someone has hit the nail on the head, causing the sudden panic threats on LSE.

[jonhbri04] 12/5/2021 19:15

i think somebody is on the case on LSE, poor SK and cronies caught redhanded.

[skez13] 11/5/2021 23:36

anyone recieved their brown envelope yet?
anyone been sued yet?

[davidkip] 11/5/2021 09:53

I noticed Staminier some time ago when looking at Britdaq, as it was the only other company (apart from WHET) that had anything like decent liquidity. All the other companies on there were trading once or twice a year (or every few years, in some cases). It should perhaps not have come as a surprise to me that some of the same people were involved in both.

[roydyor] 11/5/2021 09:32

Thanks to both of you for the research.

[sweet karolina2] 10/5/2021 20:23

David,

Thanks for all that research. It does seem increasingly likely that whatever the next act in the WRN/WHET/FGCN pantomime is, one of the characters on stage will be Greenbank. I would guess that there will still be no clarity over who the real puppet masters pulling the strings are, but I guess that is the point.

[davidkip] 10/5/2021 14:14

WHET may be on its way to the knacker’s yard, but Staminier is very much alive and kicking. And with some of the same punters backing it.

[davidkip] 10/5/2021 12:15

It will also not surprise you to hear there are a couple of Earley names on the register too, as well as a substantial chunk owned by a blast-from-the-past name, Sherri Ellison. She was a director at Merchant Corporate, where we also found James Holmes and Richard Spurway.



She was also a Director (alongside Wulstan) at Aidan's Renatus Capital



which was a WRN creditor



It's a very, very small world.

[davidkip] 10/5/2021 12:14

I've read the Whetstone shareholder register before, so remember some names. I thought I recognised a lot of familiar names on the Staminier register so I've just compared the Staminier CS date 5/4/2020 (post Greenbank taking 19%) and the last WHET confirmation statement (that gives transaction upto 7/8/2020).

Staminier reports 135 shareholders. Of those, 97 are also listed on the WHET confirmation statement (give or take a few).

One possible explanation is that these are discretionary clients of a broker.

[davidkip] 10/5/2021 10:16

Staminier is a mildly interesting story



As of the 5/4/19 confirmation statement, Staminier was fully-owned by one of the directors, and started trading on Britdaq. They promised a stock market listing in 2019. That plan then changed, and they subsequently suggested a "merger" with an overseas company (which turned out to be Greenbank).

Trading on Britdaq lasted until October 2019, by which time the share register was now dominated by new investors (see 5/4/20 confirmation statement), with the holding by the Director now minimal. It was then removed from Britdaq when Greenbank bought 19% of Staminier (shareholders have an option to sell the remaining 81% to Greenbank subject to certain conditions).

The 5/4/2020 confirmation statement makes interesting reading for Whetstone fans, with many familiar names that also appear on the Whetstone register. Very much diving into the same pool of investors.

Staminier seems to have been seeded with ~ £2.5m of paid-up capital, with shares held by one Director. Selling down that position (on Britdaq and elsewhere) would act to refund some/all of that initial investment, so a bit like an IPO in reverse. It's a pity Britdaq don't still show the trading information for Staminier, so it's not possible to find out just how much cash was generated by selling down those 'founder shares'.

What we can say is that Greenbank paid 22,494,262 Greenbank shares to acquire that 19% of Staminier in March 2020. Greenbank was trading at around 5c USD at that point, so that valued Staminier at ~ £4.5m or thereabouts (a reasonable uplift from the initial seed capital). Since then Greenbank has done very nicely (currently trading closer to $1.40), with the proviso that the shares are listed on very junior overseas markets (CSE, OTC and Frankfurt) which doesn't make life easy for a UK investor. So depending how much one paid for Staminier shares while on Britdaq, and what your views are on the ability to trade Greenbank shares, it does seem to have been a reasonable trade for people to date.

[davidkip] 10/5/2021 09:34

One company that used to be on Britdaq alongside Whetstone was Staminier Ltd. It seems largely a property play, with some land near Gatwick airport. I seem to recall it was actively traded when on Britdaq (unlike most other companies).

It's no longer on Britdaq, and instead there is this message on the Britdaq website:

"Staminier leaves Britdaq

Staminier has requested that their listing on Britdaq be terminated as they have agreed a deal with Greenback Capital Inc.

For further details please see Staminier's website."

That is backed up by this from the Staminier website:



(Greenbank now have 19% of Staminier).