The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Why Fieldfisher LLP?
Why have you appointed Fieldfisher LLP to conduct an investigation after allegations were raised around the use of inside information?
We have our own solicitors, DMH Stallard LLP but for “personal reasons” you have both chosen one of the top legal firms in London to conduct this “investigation”.
It is now over two weeks since you both suspended our CEO but when shareholders access the terms of reference and dates, they may question (legitimately) why nothing has happened.
Would this be because you both have a current legal dispute being “defended” by Fieldfisher LLP?
We all know that the Company that is taking you to court is 49.5% owned by John Story and the other 51.5% is owned by his children.
We also know that John Story invested in our Company (a lot of money) and when he invested, you both were most likely economical with the information that you provided.
The UK Courts are unlike the USA Courts where the likes of OJ Simpson gets away with murder (allegedly) our Courts find out the truth, and as a Brownie will tell you, we get it right.
RKB
PS Until you both do the honourable thing and resign, I will continue to be a thorn in your side, and I will be posting about your scandal at District 8 Holdings, and I will ensure that you have sleepless nights.
Dear Trevor & Antonio
If, after receipt of the requisition letter, you had taken a step-back and realised that your time was up (because JS had sufficient shares to vote you both off the Board) there would have been no need for loyal shareholders to set-up a website to “out” you both.
There is only a fraction of what you have been up to on this website, there will be more, and I forewarn you both that more embarrassing information will come to light that you will not want in the public domain.
Pencil in the 17th of May 2024. If you are still Directors, then you only have yourselves to blame.
RKB
PS I am a father, and I always ensured that one of my daughters was always present with me whenever I took them to brownies, girl guides or activities. Think about your past, think if you are a good person and disappear by the 17th.
Slight increase in the voting intentions for All Resolutions is now about 22,912,402
Trevor & Antonio still only have 2.75%
I have not tried to embellish the percentage of shareholders who are voting to remove Trevor & Antonio, I have not added any fictitious shareholdings, some shareholders do not want to disclose their shareholdings (understandably) but for both Americans to try to cling on till September only shows their naivety as to their time is up.
RKB
Another 25,000 votes purchased at 2.66. Every bit helps.
They still need to be voted out on June 4th as they are hoping for voter malaise , so vote them out !!!
Great news. Good sp response too. Just Callum to get back now and we are all sorted.I’m happy that they’ve resigned but would have preferred it to have been sooner.
Good news RNS. Hopefully Callum back soon. SP up 8% so far. Well done CHILL
Left this alone for a few days and after reading Chillbrandswatch.com, there seems to be a whole lot more to uncover than just lazy ownership. Just furthers my interest to vote out Russo and Taylor at the drop of a hat. If not, i fear we may enter bagel land.
Great info RKBeekeeper. It is crazy how much both Trevor and Antonio are taking from the company. Why would any shareholder want to vote for them when they are just sucking as much money as they can from the company while also trying to ruin it? I can't imagine they have long left.
Renumeration 2023
In the year ending 31st March 2023 the renumeration with benefits in kind were:
Callum £90,000
Antonio £165,179
Trevor £136,424
Why does Antonio have a base salary of $175,000? We were informed in the Annual Report that “Mr. Russo is paid at a rate of $175,000 per annum reflective of his senior commercial sales role which does not feature any commission-based element as many other comparable roles do.”
Does anyone know what Antonio does for $175,000? At today’s exchange rates that is about £139,464 or £11,622 a month.
In the previous financial year (before Callum) Antonio & Trevor received along with their salary, health & pension benefits a share-based benefit of £235,045 giving them both £356,636 or £713,272. What value (destruction) did they create to warrant this renumeration?
RKB
Possible General Meeting
If the General Meeting is held then at present, there appears to be five resolutions.
Resolutions 1 & 2 are to appoint two new Directors with immediate effect.
Resolutions 3 & 4 are to remove Antonio & Trevor with immediate effect.
Resolution 5 is a catch all resolution to remove any Director appointed since the day the Requisition Letter was received (17th April 2024)
J Swan has ensured that all Resolutions will pass. J Swan has a large shareholding and almost all small ordinary shareholders who are loyal to Callum appear to be voting for all the Resolutions.
It is crystal clear to me and everyone that I talk to that Antonio & Trevor days are numbered and it would be wise in my opinion if they just resigned before they are humiliated.
RKB
On Friday I Posted the voting for All Resolutions was about 18,787,402
Flipflop78 has 200,000 and I spoke to a good friend6 on Saturday and he has close to 2 million and his friend7 also has 2 million, so that is an additional 4.1 million.
Running total is now about 22,887,402 or about 4.52% and only including J Swan’s 13.45% we have declared shareholders of about 17.97%.
Trevor & Antonio only have 2.75% and if Eric was on the losing side then they can only muster 11.19%
RKB
The site for concerned Chill shareholders, Chillbrandswatch have unearthed another concerning story about R+T this time reporting on ongoing legal action. Surprised they have got any time left to run Chill
I took all their blue Raz and blueberry yesterday while it’s £5.99. I’ll take it again tomorrow while it’s at these prices.
Local Morrys had sold out of blue raz and Melon and only had a couple of each the others left in the rack so I bought the Cherry and Blueberry and left it empty. I told them it needed refilling.😊
Quote "In the United Kingdom, the directors of a public company must convene an EGM if the net assets fall to half or less of the amount of its called-up share capital (section 656 of the Companies Act 2006). Shareholders who meet certain criteria can requisition a general meeting: within 21 days from the date of receipt of requisition, the directors must send out a notice to convene a meeting within 28 days after the date of giving the notice."
Incorrect they must set a date within 21 days of the letter.
From what I have read the board must call the EGM within 21 days of receiving the written request so should not be too much longer before we get Callum back.
In the meaning time Chill Zero is the main sponsor of the Vaping expo next week.
The date of the EGM will have to be announced by Thursday 9th May latest which will be 3 weeks since the letter went in.
Although the numbers look good for the resolution, the key issue will be to ‘get the vote out’.’ All of us must ensure all shareholders know how to vote and when.
Good Morning Asaiaka
At present we do not know when the GM will be held because the “interim Chief Executive Officer” has not been announced.
Our two Americans could resolve part of the issue by just resigning. They both know their days are numbered and the longer they cling on the more uncertainty there will be.
A primary school pupil with basic arithmetic skills could work-out that if a GM is held then the votes to remove both Directors will be overwhelming. Whenever Trevor & Antonio begin a new business, they will never be able to have it listed on a stock exchange because with a Google Search it will flag-up how decisively they were voted off. Current indications are that shareholder democracy at Chill Brands Group will be north of 60% and only the two Directors votes will be the ones voting against the Resolutions. (Eric has come to see that the times are changing and will either abstain or vote for change)
The separate issue regarding the suspension is a malicious attempt by them to save their enormous salary and benefits and when they look back, they only have themselves to blame for not being fit and proper Directors.
Thank you Flipflop, will include with the next update.
RKB
PS Trevor & Antonio, times up do the sensible thing and exit before you are both humiliated.
I also have 200,000 shares and will be voting for JS resolution
Does anyone know when this event will take place to resolve these problems?
Yesterday the shareholdings voting for All Resolutions was about 15,187,402 and a few friends contacted me via Twitter as they did not want to disclose their shareholdings on LSE South East
Additional Shareholdings:
Friend 4 2,000,000
Friend 5 600,000
Lyonsden 340,000
Alfie2501 660,000
This is an additional 3,600,000 so currently we have disclosed shareholdings that will be voting to replace Trevor Taylor & Antonio Russo of about 18,787,402
Don’t forget we also have Johnathan Swan’s 68 million shares along with many millions in the Telegram Group.
RKB
PS A song dedicated to Trevor & Antonio.
https://www.youtube.com/watch?v=90WD_ats6eE