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This is all very depressing. I simply can not understand why, if all is lost, we the SHs are not told. It is the hope that kills
Resolution 4 at the EGM held on june 15th 2021:
"All previous acts and deeds, of the Board of Directors of the Corporation is hereby confirmed,
ratified and approved thereof."
This was voted for by minority shareholders.
A Group Litigation is the only realistic way to pursue Broadley & if as has been reported (if true) he is domiciled in the UK then it makes the issue that much easier. There's been years of jaw jaw from his lackies, while dates have come & gone (surprise surprise) with nothing but contempt for shareholders. The Nominee structure is something that this excuse for a CEO seems to fear - I wonder why ?
I am going to give this until this year end for SB or whoever to update all shareholders by official means and not by calls to individuals.
Failing that I shall be asking CICC chat board members for ideas on how to force a reply from CICC.
Does anyone remember Brancepeth Coal and the announcement of a JV with Atlantic coal? Well if it ever existed then it will soon be “phased down”
tried, no answer
Give him a call, he normally answers.
I too have e -mailed Stuart and no reply which he has usually done.
I tried emailing SB with a simple question. Does he expect the shares I have in
CIC Capital fund
CIC Capital
CIC Gold Group
to ever be worth anything
No reply
" CIC Capital is unaware of shareholder details if their shareholding is held through a broker or nominee unless the beneficiary makes themselves known through contacting the Company."
"CIC Capital on average earns US$1,400,000 per client. Income is greatly enhanced by holding client shares for a period when client cash flow are assets increase over time."
AST share registrar is now part of TMX Group who run the Toronto Stock Exchange.
https://www.astfinancial.com/ca-en/news-events/newsroom/news/tmx-group-completes-acquisition-of-ast-trust-company-canada/
Stuart sent me this on 7th June (I could only copy the text )
I hope I am wrong about my earlier assumptions.
CORPORATE UPDATE REVENUE JUNE 7, 2021
Our team delivers a high level of transaction advisory expertise based on multi-jurisdictional business experience over many years, integrated with long-term strategic outcomes paid in the majority, in equity in client companies based on success.
Directors
Robert Rhodes - Australia (Chairman)
Terrance Larkan - Australia
David Toyoda - Canada
Inge Leutscher - Geneva
Li Honnguang - China
Stuart J. Bromley - UK (CEO)
5 to 1 indépendant directors
Revenue Summery
CIC Capital started providing transaction advisory services from February 2019. All client engagements are by referrals from law firms, audit firms, regulated fund managers and regulators. CIC Capital does not market its transaction services.
Revenue is earned in five main Transaction Advisory services by client:-
Equity in client entity in the form of common voting shares;
Warrant for every share earned;
Cash at minimum ten percent (10%) of total value of Transaction Advisory - average US$160,000 to $380,000;
Additional client needs namely marketing, legals, litigation, dynamic media etc; and
Post trading by the client on market buying agreement US$140,000 per transaction;
CIC Capital on average earns US$1,400,000 per client. Income is greatly enhance by holding client shares for a period when client cash flow are assets increase over time.
CIC Capital revenue since January 1, 2020 to date is cash $1,650,000. Tradable shares of stock exchange US$550,000. Non tradable share value to date conservative US$23,000,000 (not reflected in financial statement unless actually trading).
Our focus
CIC Capital mainly services clients undergoing securitisation (www.Securitisation.com) particularly in medical technologies or high technologies.
Share Register
Despite being a non regulated entity CIC Capital has appointed AST share registrar (regulated entity) at a cost of US$650.00 per month since inception. CIC Capital has engaged auditors to review all share dealings to ensure no self dealing in shares, warrants or options. CIC Capital is unaware of shareholder details if their shareholding is held through a broker or nominee unless the beneficiary makes themselves known through contacting the Company.
Corporate Governance
CIC Capital has instituted a comprehensive Corporate Governance Manual to which all directors, management and staff must sign on an annual basis.
www.CICCapital.com Stuart J. Bromley +44 (0) 731 14 000 14
Key service organisations:
PACIFIC STAR CORPORATE FINANCE LAW
CIC Capital Fund Ltd is a registered Luxembourg securitisation S
My god, has it really come to this ? If this was always the plan why did he give us free shares which we were able to sell more recently . I doesn’t make sense
But I guess that happened on delisting. It is not knowing that is hurting me
Robdance, I understand this but what I don’t get is why we were given shares in Fund which now mean nothing and we are not getting anything in Securitization. We were told to hold on to Fund shares because they were the valuable ones. So presumably the Securitization company is now the valuable one which he has taken 100% for himself. I think you are struggling to see what has happened here
Took another look and noticed that we received free shares in CIC Capital Fund Ltd and as far as we know it is to be closed.
CIC Fund Ltd is a different company and I presume it is majority-owned by guess who.
It looks to me that CIC Fund will earn most of the fees and CIC Capital Ltd will get the crumbs.
I hope I am wrong.
https://www.securitisation.com/copy-of-securitisation-platform
CIC Fund Ltd is the Asset Server and the Trustee and the Calculation Agent on the Securitization Parties page of the CIC Fund Securitization S. A. internet site.
CIC Securitization is owned by Stuart Bromley which has nothing to do with CIC Fund, CIC Capital is assisting CIC securitization and earning a fee which hopefully will enable them to float and pay shareholders dividends
Keyap, I hear you. What I can tell you is that we once had shares in CIC Fund which has now become Securitization but wait for it, we don’t have any shares in that because SB has taken not offered us any in exchange. The irony is that we were told that they were the really valuable shares. Talk about being robbed in broad daylight, but there’s not much we can do about it is there? Or is there?
Batboy came on here a few weeks ago, claiming to be the fountain of all knowledge but has disappeared when I raised this. I am fed up with not being able to access the funds that I foolishly invested in this pipe dream nonsense. There’s just one excuse after the next for further delay.
Have now given up on this one. If it comes good then it's a bonus !
Pre delisting i had:
CIC Capital Limited (Seychelles) (9807): 184320 shares
CIC Capital Ltd NPV (9038): 184320 shares
CIC Gold Group Ltd ORD NPV (DI) (CICG): 26844 shares
The share account still shows the CIC Capital Limited (Seychelles) holding with a zero value but tbh I've no idea of what i have / do not have now.
Also, the emails from Stuart have been intermittent at best. Exchaned a few some years ago, was told i was on 'mailing list' and something to the effect that my holding haf been 'noted'. Received a few more then nothing!
Back in the bottom draw and never to be seen again?
I have absolutely no idea what is going on or what I even own any more. Its just been so long and with so many changes I simply haven't a clue any more. I never even get these email updates you all talk about even after asking.
What year did we de-list. I can't even remember that. I was still young when it happened I think.
We there yet?
I think after all these years of waiting I will give this another 24months which is ample time to recover from the strain of Covid.
If we don’t get a listing in between that time scale i will call it a day.
over 6 weeks since this commitment from Bromley - buess he is not interested in countering the "misinformation"
Time is precious, but truth is more precious than time.
Benjamin Disraeli