Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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"We have been notified that Globo plc was dissolved on 28 January 2017. This follows the announcement on 3 November 2015 that the Company was placed into Administration and the Shares were delisted from the Alternative Investment Market (AIM)."
Last 3 points say it all. In an insolvency, shareholders will only receive a return after all creditors of the Company have been repaid in full , including s tatutory interest on their debt . 4.11 Th e outcome to shareholders remains unchanged since our previous report and there will be insufficient funds to enable a distribution . 4.12 It is no longer possible to trade or transfer the shares of the Company and, due to the lack of future shareholder returns, the shares hold no value
Hi - i am pretty sure the rules state you can as they are in administration. i am doing my self assessment on that basis anyway.
Can anyone advise if GBO is now recognised by HMRC as zero value , so can be used as tax loss for this financial year ?
Costis. I cannot tell you how angry I am.You are totally immoral and I sincerely hope you get what you deserve. People like you always do in the end do. I have not lost much money but I feel so sorry for those who have heavily invested. I look forward to hearing about your ultimate fate.
gbo
You mean hang him by the Goolies xx
Merry Xmas Mr Costis from all of your loyal investors.Hope Santa brings you lots of nice things .N.O.T !
Noticed this posted on the Globo website from 13th December 2015. http://globoplc.com/globo-at-a-glance/news/ Globo Globo Plc opened its new office in Palo Alto, CA. This comes soon after Globo’s CEO, Costis Papadimitrakopoulos moved to the Bay Area to provide strategic focus to U.S. and Canadian businesses. Dimitris Protogirou, Globo’s COO of North America, noted that the new location was strategically chosen to help the company recruit and retain the best talent and serve its growing North American customer base. “The recent acquisition of Sourcebits, following our purchase last year of Notify Technology, means we are rapidly building momentum in the U.S. and Canada,” said Protogirou. “The new Palo Alto center is further evidence of our commitment to the continued expansion of our North American operations.”
On 18th they released a 44 page documents. It seems to show there is little or no money in the Globo bank accounts. The money may be in the subsidiary companies. I think most of these are now in administration. Overall debt seems to be way more than any actual assets. Not looking good.
Good watch for anyone who was involved here. https://www.youtube.com/watch?v=i5HJmAtfp6I
Any idea what SharesSoc do? Over 400 GBO shareholders have signed up. They keep on saying there is likely to be nought for Shareholders. what outfit would make remarks even before FCA or the Administrators have reported. Also it seems they dont have the muscle to litigate GT and others. Costis is probably enjoying the ill gotten gains in Greece or Bahamas
I think I ll go into auditing.Sounds mint.Not accountable to anybody and charge a fortune !! Grrr !
Chris Smith is the partner at GT (based in Euston) who signed off the 2014 Accounts. Apparently his expertise is in Audit and Assurance. He is the Regional Technical Audit Partner and Head of Financial Reporting Advisory Group. Well Well!!!!
Apart from a minor loss of reputation, as all large firms have skeletons emerging on a regular basis, their indemnity insurers will settle any claims & the loss to GT will be their excess & a possible premium hike .The partners generally will hardly feel it although the partner responsible,depending on seniority and his other clients, could be booted out ( quite rightly).Partners at GT will not be earning 7 figures , apart from, maybe, the managing partner and the odd "high flier".If they are found culpable it would be great to think that the system would compensate us-but it wont.We need to be making spurious mis selling claims or personal injury claims to get any easy money.I am still fuming over how easy it appeared to be for our whole executive team to rob us , and everyone else, blind without anyone noticing apart from a few shorters and a tiny US based hedge fund-all of whome, I believe, got very lucky.
I wouldnt have thought so as these fines are pitiful and shareholders probably lost everything. There are no consequences for Auditors when things go belly up. I bet they will probably get away with the GBO fiasco with a fine while Shareholders get nought. I believe GT is the 5th largest Firm with turnover in excess of £1billion and senior partners get well over 7 figure Remuneration
I bet they're devastated at those huge fines....
See link http://economia.icaew.com/news/december-2015/sec-slams-grant-thornton-audit-failures
the auditors?
GT heavily censured by SEC and 2 Audit partners barred for several years and pay £2m penalty and forfeit £1m in Audit fees. I have uncovered several other blunders with GT Audits. Once Administrators and FCA reports are out, we will know next course of action. Best if FCA an Administrators pursue this. I cant understand how GT gave a clean bill of health to a motley crew and company which was so fraudulant
Anyone have any idea when this will be removed from CREST? That's what IG are waiting for to properly settle all bets. Taking forever!
proceeds from director sells shd be escrowed for at least a year ...that last sell make the point lol
The prospect of recovery from Costis & his crew are remote(& even if there was some recovery it would be swallowed up in legal & profesional fees,leaving nowt for us)but I do hope that the Administrators press for Criminal prosecution.If this was the US & once the case is proven they would be facing substantial jail terms. I have lost & made money many times over the years & I am adult enough to accept the consequence of my actions but this is the quickest fall from grace that I can remember & it resulted from a total con which was supported by the Auditors,Brokers,Analysts,industry experts ( Gartner etc). I appreciate that a small number of individuals expressed doubt about GBO but I suspect that most of them were just shorters hoping to make a few quid ,not believing their luck that it was a total debacle.
Only way to make any money today is building a house.Lost 50k on aim this year.not invested in this one but same happened to me with mar city.
Just had my position closed by IG and account amended.