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Sorry, nothing new to report. Need to give him more time.
any further update?
list or not to list is the question.It has been so many years now.
Actually it should be shareholder issues first after all this time …..
Dear Ian,
Just an update. We are still working to deliver financial statements for you on CIC Capital Ltd.
We are exceptionally busy with client demands on our financial staff and will update you when we are near. Clients focus is first but your request is important to us to address.
Kind Regards
Stuart J. Bromley
Batboy didn’t like the mood music
"CIC Capital Ltd held a recent shareholders meeting. Shareholders approved CIC Capital listing at a time there were a) tradable share and b) cash of value GBP15 Million."
Unfortunately that part is very much true. Shareholders did vote for that. As well as a resolution ratifying all the actions of the Board for something like the last 10 years.. which was a bit like lemmings going over a cliff.
Yes............What Stuart is telling us does not make much sense.
We need clarity from Stuart.
macnai - what a load of BS !
"CIC Capital Fund Ltd is dorment. In the current environment, CIC Fund risk profile is too high. A recent shareholders meeting voted in favor to dissolve the company at some future date."
WHAT VOTE ?
Broadley emailed me a few years back suggesting that I revert to yourself - why I wonder ?
Again WHAT VOTE ?
Not ONE of the Nominees that I hold with were advised of a vote much less invited to participate in.
"The timing will be when the shareholders whom received dividend share in CIC Capital Ltd receive a share value greater than that when invested in CIC Fund (3.7 UK pence)"
"CIC Capital Ltd held a recent shareholders meeting. Shareholders approved CIC Capital listing at a time there were a) tradable share and b) cash of value GBP15 Million."
Complete ****** & you know it ! Shame on you.
and with that Batboy has vanished. Obviously didn’t like the music
if there's "miss information being pushed about." it's because he's caused it with his smoke and mirrors...
I asked Stuart about the 2020 & 2021 financials for CIC Capital. Here is his reply.
Thank Ian,
Not sure as year ending Dec 31, 2020 and 2021 audit has not started. CIC Capital Ltd is a private entity and not required to be audited. Nevertheless, a formal audit will be required for regulated listing.
Following your interest in the financials of CIC Capital Ltd. we will conduct unaudited financial statement YE Dec 31, 2020 and 6 month interim to Jun 2021 over the next weeks.
All accounting transactions are uploaded on a two-week cycle to our accounting software by Shirley our bookkeeper based in Canada.
I will advise when posted on the website.
Also I believe it would be of interest to all shareholders details of all the CIC entities as I have seen quite a bit of miss information being pushed about.
Kind Regards
Stuart J. Bromley
I'd be more interested to know how, as CEO (appointed by shareholders) of CIC Fund (with its stated ambition of providing funding/financial services alongside the advisory services of CIC Capital) he hasn't contradicted his fiduciary duty and legal obligation to act in the best interest of the shareholder, when he has set up a directly competing business in his own ownership?
This might go some way towards an apology for those of us who have been unable to access any of our invested money all these years
Yes I know that but you have not answered my question. We were all given shares in Fund to match the number of shares we have in Capital. With Fund becoming inactive and our Fund shares even more useless than they are now….is there any intention to award long suffering shareholders an equivalent holding in Securitization IF it ever lists?
NO........................CIC Fund will become inactive....
Batboy, is it your understanding that our CICFund shares will be converted into Securitization shares seeing that Fund is now not happening?
It was my understanding, that CIC Capital Ltd...............owns CIC Capital SA (Not activated yet)........CIC Capital SA has a management contracts and %% interest in shares of Companies managed by CIC Securitization SA.............this structure should come into being shortly. (Critical steps, CIC Capital ltd has to go public, and CIC Capital SA has to go public as well)
There is much about all these deals I do not understand.
How come CIC Fund Ltd is going to be wound up when on the CIC Fund Securitisation website it says that they are the ASSET SERVER, TRUSTEE and the CALCULATION AGENT?
Looks like the new CIC directors of Innomed will do very nicely for themselves.
Hopefully, us long-suffering shareholders of CIC Capital will do OK, and if Innomed floatation is a success a lot more business will come our way.
KonarA........where did you see that CIC Capital is expected to buy up CIC Securitisation?
furthermore... when was the recent shareholder meeting in CIC Fund, where it was voted to wind up the company? I wasn't invited to attend or vote.
1: Advisory and Investment business was together under one company.
2: Advisory and investment businesses were separated out into two companies. CIC Capital offering advisory services and CIC Fund offering investment. Shareholders owned shares in both.
3: CIC Fund is now dormant and voted to be wound up. What happened to the money within that business, owned by the shareholders?
4: CIC Securitisation gets spun up by Bromley
5: CIC Capital expected to buy up CIC Securitisation.
So Bromley has wound up one investment vehicle with no sign of a return to shareholders, and has now separately created another company, owned by himself, that he plans to sell back to us.
You ok with all that?
More info
https://patents.google.com/?inventor=Matthew+G+Mcintyre
Current Assignee Cic Fund Securitisation SA
https://patents.google.com/patent/US20200391006A1/en?inventor=Matthew+G+Mcintyre
US patent application from January 2020
https://uspto.report/patent/app/20200001045
I don’t think his email says that. Value of CICCapital will more than cover closing of CICFund (3.5P).
So CIC Fund (which we all owned shares in and was supposed to be the investment vehicle) - is being wound down, and being replaced by CIC Securitisation which is 100% owned by Bromley.