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''I know the chap very well and he is a real whizz from other companies where we worked together''
a whizz huh ?
god forbid if he also did them in these
WOW such an impressive and eclectic list of liquidated / dissolved companies behind you :)
Mr Po**** entered into voluntary sequestration in Scotland on 23 August 2007, as a result of a personal loan guarantee of £1.5 million being called upon, which was discharged on 23 August 2010.
Mr Po**** was a director at the time, or within the twelve months preceding, the date of the compulsory liquidation or administrative receivership of the following companies:
· Joint-receivers were appointed to The R. Oak (Longton) Limited on 9 March 2007. Mr Po**** resigned as a director on 20 September 2007. Of total receipts of approximately £92,000, approximately £53,000 was paid to the charge holder. This company was subsequently dissolved on 5 May 2009.
· Joint-receivers were appointed to The Jolly Roger (New Ollerton) Limited on 9 March 2007. Mr Po**** resigned as a director on 20 September 2007. Of total receipts of approximately £196,000, approximately £162,000 was paid to the charge holder. This company was subsequently dissolved on 20 January 2009.
· S.L. Securities Limited (formerly Scotia Land Limited) was put into compulsory liquidation on 1 June 2007, with a resulting deficiency as regards creditors of approximately £3.75 million. Mr Po**** resigned as a director on 20 September 2007. The company was dissolved on 13 May 2008.
· Scotia Land (Bath Street) Limited was put into compulsory liquidation on 22 August 2007. This company is still in liquidation. Mr Po**** resigned as a director on 20 September 2007.
· Joint Venture Properties Limited was put into compulsory liquidation on 9 January 2008. Mr Po**** resigned as a director on 20 September 2007. Of total receipts of approximately £429,000, approximately £372,000 was paid to floating charge creditors. There were insufficient funds after the payment of fees and expenses to pay a dividend to unsecured creditors. The company was dissolved on 26 November 2009.
· Joint Venture (Earl Grey Street) Limited was put into compulsory liquidation on 22 August 2007. Mr Po**** resigned as a director on 20 September 2007. There was a resulting substantial shortfall to the secured creditor and after the costs and expenses of the liquidation there were insufficient funds to pay a dividend to any class of creditors. This company was subsequently dissolved on 16 May 2012.
I wonder what all those small businesses and long list of outstanding creditors would think if they could see and hear you now with all this free cash to invest and giving it the big I am
I am sure that it is an interesting discussion, as to how to value the company.
If AA is the man that I think he is, he will have produced a number of pro-forma valuations, and a number of spreadsheets showing the direction of the incomes and SP projections.
I know that these are extremely strong, as I know the chap very well that has produced them for him in the past.
He is a real whizz, as a number of you know him from other companies where we worked together.
What I can tell you is that he isn't selling a single one until we hit £50 per share, which is projected as being within the next two years.