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I got a share certificate in the post. What is the point of it?
I am very much in the camp of feeling badly shafted by Deepverge and want to write to the Regulators to support others doing the same. However, I don’t really have the time to research chapter and verse to do so. Anyone willing to share their representations so that I can piggy back onto theirs?
Thanks Anonymous Coward - we need more of you to do the same.
Not 100% correct melanocytes. Glanaco was the warehousing and shipping hub for modernwater, all the staff did indeed think it a strange acquisition. Though there was so many lies and dodgy goings on it was mostly ignored. Like the day a Glanco truck turned up to transport microsaic MiD units across europe with customs paper work declaring them as 'scrap wheel wash parts'. One of the many reasons it was purchased was because DV could take a large grant from enterprise Ireland to purchase it, by claiming it was going to be a manufacturing hub, so getting it on the cheap, Glanaco also had money in the bank and good credit lines. The reason it was sold back for a euro? DV took the cash, ruined the credit line and stacked it with debt to fund other parts of the DV empire. If they treat family like that what chance did the investors and staff have?
@yankee_d1000. modern water and labskin for that matter were basically viable business , MW needed to modernise and LS re focus but the products had customers, they and DV as a whole failed because FM and GB insisted on spending millions of euro on STC and PD respectively long after both had proven to be failures.
As a former employee I am trawling through the RNS's and putting together an email to the FCA pointing out the parts that I know to be lies. I can't prove any of it, so it will likely to come to nothing, but it is all I can do.
Just to clear this up, Glanaco has nothing to do with Modern Water or Labskin, it is a company belonged to a relation of ex Director Fionan Murray, everyone who worked in the York Facility is aware of this strange acquisition for 1.2 million, it was sold back to this relation by Nigel Burton for that 1 euro you mention yes. Fishy you say! Not of importance but a similarly embarrassing fact is Camillus Glover middle name is Gerard, yes Camillus Gerard Glover, he was indeed baptized by Gerard Brandon! Now we all wonder if Gerard Brandon middle name is Camillus! The charade continues over at Microsaic PLC. where a few rampers exist on the forums trying to give the impression everything is amazing!
Don't forget the Glanaco business. Bought for 1.2m euros, if I remember correctly, and then sold back to the same owners for 1 euro. One of the Fitzgerald's worked for MW and now works at Glanaco. I am confident this was another orchestrated transaction for the benefit of GB's friends & family.
Sorry, it was the Microsaic RNSs of 16/01/24 that were the illuminating ones, not so much the 16/02/24 one.
Incidentally, although Gerard Brandon, as former CEO, attracts most of the anger and criticism, in my view Camillus Glover, the former Chief Financial Officer, also has a lot to answer for.
Thanks for posting the info on complaining to the FCA.
I am abroad at the moment but will get around to writing my own complaint when I get back.
The Microsaic RNS of 16/02/24 and the latest (non independent) advice note from Turner Pope are illuminating and a must read for those of us ripped off here.
I have also sent in my email for what its worth. So far AIM have been a little pathetic frankly in terms of how all this was handled thus far. I do agree a whistle blower is important at this stage frankly and usually that always comes a year or two after a complete collapse like this. Almost every RNS seems to be an outright lie to date and no audits no accurate accounts, infact made up accounts. And the directors of Deepverge seem to be just transferred assets over to another AIM company Microsaic and acting like it is all normal. Infact Microsaic have only last week stated (again it could be a complete fabricated RNS) Modern Water is a good business, with clients and they are hiring staff again and selling to those clients, bizarre behavior. Hopefully there is a reaction from the Market Abuse Team to this.
Have just called the FCA who tell me the Market Abuse Team is now looking in to the allegations I put in letter to them in January. They do not, however, provide feedback or updates. It would help if any other ripped off investors also emailed FAC Market Abuse Market.Abuse@fca.org.uk with any information they have. What would, of course, have the biggest impact would be if a whistleblower(s) could contact them. I quote from Market Abuse's response: 'If you wish to report your concerns confidentially to our whistleblowing team, you can email whistle@fca.org.uk or call 020 7066 9200'
Please encourage any potential whistleblowers to contact the FCA - it would greatly help in stopping these gangsters and the daylight robbery that they specialise in.
Unbelievable scum
And just like Modern Water the company that could not work under Deepverge PLC is working perfectly under Microsaic like it never skipped a beat despite the exact same gangsters running both PLC's. https://www.lse.co.uk/rns/MSYS/company-update-fqn0bh47sx9wbq7.html I wonder what Microsaic paid for Modern Water do we know?
After the FCA referred me to aimregulation@londonstockexchange.com I received the following message - referring me to the FCA but to a different team:
'AIM Regulation considers all enquiries as regards the conduct of AIM companies and nominated advisers in respect of their compliance with the AIM Rules for Companies (“AIM Rules”) and for Nominated Advisers (“Nomad Rules”), and takes action where appropriate. Please note that AIM Regulation's remit does not extend beyond the AIM Rules and Nomad Rules. Further information regarding the remit of AIM Regulation, and that of other regulators and competent authorities, can be found at the following: AIM Regulatory Landscape.
We note the reference in your letter to potential market abuse. Please note that the Financial Conduct Authority (“FCA”) as the competent authority, has statutory remit to investigate alleged breaches of the Market Abuse Regulation and allegations of false or misleading statements which (intentionally or recklessly) induce investors to trade or refrain from trading in a company's securities. If you have not done so already, you may wish to communicate directly with the FCA’s Market Integrity Unit, to Primary Market Oversight Department, Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN (email: primary.market.integrity@fca.org.uk). '
I shall therefore recraft my previous two letters and write to primary.market.integrity@fca.org.uk
Fun and games(!!)
Here was my effort
To who it may concern
I believe Gerald Brandon prior CEO of DeepVerge plc trading on Aim has a case to answer for deliberately misleading investors artificially inflating share price while personally profiting from selling shares owned by his wife. The company has been suspended on aim and I believe lots of staff have been laid off. There was a £10m raise last year that would have required reassurance on future business that was also likely false. The broker turner and pope who were given shares on DeepVerge are also implicit as is the prior cfo and Nigel Burton the chairman
He lied about revenue explained as an accounting error,
He lied about orders claiming internal manufacturing order’s between divisions consisting contract orders
He lied about a deal with China resources
He lied about a line of business with cruse ships
All his lies are available in published RNS and investor presentations
Regards,
I'm not legally trained (perhaps someone who is can suggest something better) but for what it's worth here's my draft:
don't delay, email today. We might not get anything back but can help prevent a repeat performance!
Dear Sir/Madam,
As one of the unfortunate investors in Deepverge, I wish to inquire if your department has investigated any concerns regarding the apparent malfeasance, irregular and/or fraudulent activity of the above company - most notably the actions of its directors in the conduct of that company.
It would appear to me that on several occasions the company and its accountable representatives made false and/or misleading statements on several occasions aimed at deceiving existing and prospective investors.
Yours etc.
Just to note:
16 Jan 2024 Compulsory strike-off action has been suspended
10 Jan 2024 Termination of appointment of Camillus Gerard Glover as a director on 10 January 2024
10 Jan 2024 Appointment of Mr John Rupert Mottram as a director on 10 January 2024
https://find-and-update.company-information.service.gov.uk/company/05963927/filing-history
MODERN WATER (U.K.) LIMITED
Company number 15457484
Incorporated on
31 January 2024
https://find-and-update.company-information.service.gov.uk/company/15457484
AIM and LSE are such an embarrassment in terms of enforcement its doubtful we recover anything here. As we type Gerard Brandon and Nigel Burton and their buddies are simply transferring Modern Water and Labskin over to Microsaic for zero returns to Deepverge and the circus continues. An absolute disgrace so the important thing is people do not get conned by their new vehicle Microsaic. Anyone out promoting Microsaic is basically a toxic infection so stay clear unless you want your investment eaten alive.
Would someone be able to share a template for others to use to report those crooks please? Do we have any chances to get anything back?
I’ve written to the aim regulation and the markets abuse commission. I believe there was both false information released via regulated channel and manipulation by JB & board for personal gain. In short they are f’ing crooks. The more people that have lost here that take the time to write to aim regulators and markets abuse (simple Google search) the more likely the thieving xxxxxx will be held accountable
I wrote to the FCA on the 4th January and received the following advice:
'Thanks for your letter dated 4 January 2023 to the Financial Conduct Authority (FCA) regarding Deepverge Plc .
I understand you invested [£nnnn ]in Deepverge Plc shares and their listing on the Alternative Investment Market (AIM) at the London Stock Exchange was delisted on 27 December 2023. I’ve understood this company is going to be wound up. I appreciate this must be very concerning for you.
Deepverge Plc
I've completed a search on our Financial Services Register, this is a public register of the firms authorised by us and warning pages for unauthorised firms. Based on the information you've provided, I've been unable to locate a firm called Deepverge Plc, which means they're not authorised by ourselves. Please be aware that if you deal with a firm who aren’t authorised by the FCA, you wouldn’t have any protection in place from the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if something went wrong or if this was a scam. We’ll be unable to provide any assistance in recovering your money from an unauthorised firm.
Your next steps
As Deepverge Plc was listed on AIM at the London Stock Exchange, you may wish to report your concerns to the AIM Regulation Team. I’ve listed their contact details below.
+44 (0)20 7797 4154
aimregulation@londonstockexchange.com
In addition you may wish to obtain independent legal advice regarding your legal position in respect of Deepverge Plc.
What I’ve done with the information you’ve provided
I’ve today referred the information you’ve provided regarding Deepverge Plc to the appropriate team for further investigation. If they require any further information from you about this, they’ll ask me to contact you again.
I hope this information has been helpful and thank you for taking the time to report your concerns to us.
Yours sincerely
Andrew
Supervisor / Supervision Hub
Supervision – Retail and Authorisations / Tel: 0800 111 6768
www.fca.org.uk
@jez01 China!! really we are going to bring up China again! total BS
As recently as December 13th 2023 per the Modern Water (Chinese Website) - see CN at top
Modern Water was invited to participate in the Guizhou-UK Environmental Protection Technology and Equipment Sharing Symposium
On December 13, Tim Standbrook, Deputy Consul General of the United Kingdom in Chongqing, along with officials from the environment, climate and energy departments of the Consulate General, officials from the Northern Ireland Investment and Development Agency, and representatives from British environmental companies including Modern Water, visited the Guizhou Provincial Department of Ecology and Environment. .
Wang Yingxian, deputy director-level ecological environment inspector of the Guizhou Provincial Department of Ecology and Environment, held a discussion with Tim Standbrook, the British Deputy Consul General in Chongqing, and his delegation. Relevant personnel from the Cooperation Office, the Provincial Academy of Environmental Sciences, and the Provincial Monitoring Center attended the discussion.
The Guizhou Provincial Department of Ecology and Environment welcomed the visit of British environmental protection companies and gave a comprehensive introduction to the provincial ecological environment from five aspects: "high-standard pollution control, high-position rectification, high-quality development, high-level protection, and high-efficiency reform" The key work done by the Department in the construction of ecological civilization and ecological environment protection in recent years, and hoped to promote exchanges and cooperation between the two parties through discussions and exchanges.
Tim Standbrook
Tim Standbrook, Deputy Consul General of the United Kingdom in Chongqing, expressed his gratitude to the Provincial Department of Ecology and Environment for the warm reception, introduced the purpose of the visit, and expressed his hope to strengthen exchanges and cooperation with the Provincial Department of Ecology and Environment. Six environmental protection companies including British Modern Water introduced their advanced environmental protection technologies and pollution control experience in their respective fields. Participants discussed ecological environment protection technology, environmental monitoring equipment and other aspects, and actively explored the possibility of cooperation and the next direction of cooperation.
Modern Water technology sharing
Modern Water China Regional Sales Manager Li Jie participated in the exchange as a representative and introduced the equipment advantages and application cases of Microtox biotoxicity and Microtrace heavy metal products to the participants during the British enterprise sharing session.
The FCA regulates financial firms.
It would appear that the FCA doesn't regulate companies listed on AIM it only appears to regulate the Main Market).
AIM companies are supposedly regulated by the LSE.