Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
has there ever been any movement on this action? even a slight chance of recouping any of the losses?
Yep - let's keep picking at this scab ! Compare notes as we get responses . Must admit to being disappointed in the DT - they heavily promoted CVR through their Questor column - so you think they would want to ry and help Pis who followed their suggestion Keep in touch guys
Hi, thanks for posting. Looks like a standard response a solicitor would most likely recommend. Fingers crossed the fca and sfo see things differently. Will keep you posted with any further responses we receive.
I too have received no response from Serous Fraud Office to my approach made over 20 days ago . See below extracts from email response from KPMG . No response from Conviviality ; no response from Investec No response from Daily Telegraph . Will keep posted on any further responses You will understand that, when an auditor reports on the financial statements of a company, that auditor has certain well defined responsibilities in law and as a matter of professional obligation. In particular, his responsibility is to make his independent auditor�s report to the company�s members as a body, in accordance with the Companies Act or 2006. An auditor does not accept or assume responsibility to anyone other than the company and the company�s members as a body, for his audit work, his audit report, or for the opinions the auditor has formed. Auditors do not report to each shareholder individually and cannot accept responsibility for the investment decisions that an individual shareholder might make. Accordingly, as Conviviality�s auditors we owed a duty of care to Conviviality and to Conviviality�s members as a body, and not to each shareholder individually. As such, KPMG will not be able to provide you with the information you seek and your questions should be directed the company. I feel that I must however address your allegation that KPMG has participated, unwittingly or otherwise, in a fraud. This is a very serious allegation. For the avoidance of all doubt KPMG had no involvement in any �fraud� and we do not have access to any information that would enable us to confirm or deny your allegation.
Hi Snige, my wife didn�t hear back in the 20 days from the police other than the crime reference number letter, but received the following today. Looks like we have not been forgotten, just they are working through a backlog... Further to our previous correspondence, I am writing to update you with the progress of your report. Due to the volume of reports Action Fraud has received during the recent months we are experiencing a high demand on our services. This demand has had an impact on our normal response timescales which we are currently addressing to ensure we provide a timely service. At this time your report is still under review by the National Fraud Intelligence Bureau. When the review of your report is finalised, you will be notified what action has been taken. Your report will either be sent to a Police Force or Law Enforcement Agency for their consideration for further action, or if it has not been possible to identify viable lines of enquiry your report will remain in our database. You will receive notification of this decision as soon as possible.
Robottrading, great to hear you are recovering well. I�m doing good with EVRH and KOOV (ready to pull out if funding isn�t found) at the moment. Not sure if that is any help? A bit faster than the ftse 100, but with more risk. Probably both already on your radar but just in case... 57k in such a short time is a great comeback 8-) We were robbed blind with CVR. Has made my wife and I very wary now.
UrbanWolf,your right mate I bought 150000 shares in 3 tranches 101-102 and 103p,i have managed to trade with some trades and got �57000 pounds back just need to trade for another �109,000,it will come,i got into ftse 100 and some funds slow progress but I will get it back,saw 4 MC trucks again today,what a fooking steal hey cheeky barstools robbing us blind
Hi Macrock, would be great if you could post any replies you get. I will do the same if/when we hear back from the fraud squad and the Sun. Robottrading, its been a while since I last read a post of yours. I read that you lost a lot on CVR. Hope things are coming back good for you. Fingers crossed we can get some sort of justice.
since these scum sold us on cheap,i never saw 1 matthew Clarke or another related truck to con viviality, since they sold us I see upto 10 trucks a day in my town alone,i see the wine trucks,crazy I never them once under cvr hey,we was robbed and what can we do,the old adage say ie you could lose your investment blah blah blah ok but we was robbed right,muddled up post from me but grrrrrrrr
Still trying to get some justice and even compo for this shafting . Did you see the DT article yesterday ? Be good to have your views as clearly a large holder of CVR
See below - as emailed to Business Editor of DT last night . I refer to the front page of your Business Section this morning which again brings home how Private Investors in Conviviality have been appallingly treated and to be frank the situation 'stinks to high heaven' . The collapse of the Company in such a short period , the lack of financial controls within the BoD , the sudden �30million tax bill , the sizeable share purchases by the CEO and CFO to draw us in - and supported by the likes of Questor who indicated this was a cause for further investment . The exit just prior to suspension by certain financial institutions , the BUY recommendation by INVESTEC ( the nominated adviser ) ; the lack of 'insight' by KPMG as auditors . In view of all of this is it not a fair comment to suggest we have been duped ? The Pi�s acted in good faith in supporting CVR - we have been 'taken for a ride' and simply 'dumped on the roadside� . I have since complained to Investec , to KPMG and Conviviality . I intend to forward the complaint onto the Financial Ombudsman . Realistically , what chance do we the Pi�s have as a single voice ? But allowing for the above article and lack of regard for shareholders , is it not reasonable to request that the DT move on from the � mia culpa� stance on the poor recommendation - as per Questor articles of 13th April ( and earlier 6th April) - and to instigate a campaign on behalf of the Pis who invested on their recommendations An earlier article in your Business pages on 30th March was headlined Watchdog �must investigate Conviviality� . What has happened since - as the Company entered administration with indecent haste ? Please please demonstrate the strength and might of the Press and the merit of investigative journalism and support us in seeking some redress for this scandal . I hope to hear from you on this
Thanks for comments . Would be good to have had a few more responses - but guess many switched off this chat . DT approach made See what this generates
Macrock,you are definately not alone and i reported it to SFO but no reply within the 20 days. Nobody seems to care about this kind of fraud. It really should have a slot on the BBC's Fake Britain show !
Hi Macrock59, you are not a lone voice, but I do think you are right that many have just put this down to being another AIM loss, when it is not. This loss for PI�s came about through deception of what certainly appears to be lies and smoke screens. Please do report this to the FCA if you dont mind, stating all the facts as you set out below. My wife lost her entire holding and reported her concerns to the police fraud office a few weeks back. She has a crime reference number but is still waiting to hear back from the fraud department with their conclusion. The more noise, the more chance of justice and helping prevent other directors from thinking they can stitch up PIs in a similar way in the future. Your post captures well the deceit suffered by many. I can not believe they treated PIs like they did and to date, seem to have got away with it. The money is gone but we might still at least, get justice. The more people who report it to the FCA and police, the more chance of success. Raising awareness with the press at DT would be great also, if you don�t mind. I know someone who contacted the Sun, but the press department never got back in touch. May be different with the DT, as they have already started to cover the story and raise questions. Thanks for your post.
I really cannot believe how passive Pis appear to be with regard to how we were 'shafted' and are accepting a total loss . The latest as per the front page of the Telegraph Business section is a further example of how we have been treated and the situation stinks to high heaven . The collapse of the Company in such a short period , the lack of financial controls within the BoD , the sudden �30million tax bill , the sizeable share purchases by the CEO and CFO to draw us in - supported by the likes of Questor in the DT who indicated this was a cause for further investment . The exit by certain financial institutions - the BUY recommendation by INVESTEC ( the nominated adviser ) ; the lack of 'insight' by KPMG as auditors . Despite all , why are we just laying down accepting this and kissing goodbye to our investment . We have ben duped . I have complained to Investec , to KPMG and Conviviality . I intend to forward the complaint onto the Financial Ombudsman . I will be writing to the DT on the back of their headline today to say their 'Mia culpa' on poor recommendation in these circumstances is not good enough . in THESE circumstances they should instigate some campaign on behalf of the Pis who invested on their recommendation . Am I a lone voice in the wilderness ?
This says it all about the leadership team at Conviviality. PIs mislead and kept in the dark... https://www.telegraph.co.uk/business/2018/04/30/conviviality-turned-11th-hour-rescue/
Well we've finally been paid our royalties albeit 3 months late! When someone posts that payments are not getting processed please listen in future, its a red flag ! I'm sorry about the investors getting screwed here, you've been well and truly misled all the way by the management it seems.
Orangetree,i would imagine recent investors bought in because they saw the Director buys,in particular The Audit chair and the CFO but your attachment has no mention on what lesson we can read from this. The Sunday Times yesterday devoted a page to Conviviality and their investigation revealed nothing on Director buys but mentioned "the beast from the east" as a contributory factor for failure. Come on Sunday Times we are relying on your investigative journalism to strike these directors off because no other bugger is.
People (like myself) talk about learning lessons from this debacle, but most don't want to confront the reasons for why people got sucked into Conviviality. One big reason is the fast earning growth via acquisitions. To learn another six reasons why investors got sucked into Conviviality http://bit.ly/2JsTmyk
When you cast your minds back to their IPO in 2013, it debuts at a market value of �67m. Now sold for �7.5m. Well, I guess management strategy worked out well! Not! Personally, if you are a serial investor, you should create a file and write down the names of management who took advantage of investors goodwill and blacklist them if they took future directorship roles.
UX, pwc have sold us to cheap we was robbed blind,this company was worth more than whats being paid,there is nothing else we can do, in 6 months who was CVR nobody will give a toss. I want to see who kept there cushy jobs at this mess ,I bet every director kept his/her job in the new format on a good wage,looking at it aswell lets see the the whole boards share holdings before jan1st to collapse,those bod buys were fake,i bet Diana sold down and moron
The retail part has been sold for a little over 7 million.
Never say never. But blind trust in funds can lose you money. Woodford is c 20% down from his launch. Remember funds are charged if you have an account. We all lose money at times and gain in the better times. Punts at Cheltenham and Punchestown are for those that afford to lose. Stocks are a lesser risk over time - not just 5 or 6 mins. Watch and learn. Reflect and be careful.
I don't expect IIs who have lost c�200m to make big public noises. Initial + subsequent placings. There will be actions - we shall see. I guess some sort of legal action. I hope KPMG is the focus.
I will be buying no more individual company shares -- only funds/investment trusts.I have lost complete confidence in company accounts signed off by auditors who appear to have no responsibility for their mistakes...