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And this update means no listings being sought and no view of funds until after this year end. So we still have no idea if our shares are worth anything or how we will ever be able to take any value out. Anyone else got the same or another opinion?
The company charges no capital raising commissions. Each client agreement will deliver a 4.2% administration fee on debt finance (funds that are drawn down), cash and shares in the client company. CIC Fund Securitisation is supporting several clients securitisation and is currently experiencing a high demand from potential clients. The company is cash positive from revenues and has expanded its human resources in Luxembourg, Germany, US and the U.K. to maintain high standards.
Key service organisations:
© Copyright 2003 CIC Group Companies Contact: Stuart J. Bromley Bromley@CICCapital.com
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Key service organisations:
PACIFIC STAR CORPORATE FINANCE LAW
CIC Capital Fund Ltd (“CIC Capital Fund”) is a Canadian regulated public closed-end fund. The company ceased normal investing activities and operations.
Directors:
Li Hongguang (Kevin) - China
Trustee Mark A. Brockhurst - Australia
wwwCICCapital.com
Summery of Operations
CIC Capital Fund has ceased any investment activity due to investment fund providers, directing their capital to funds operating in the EU, in particular, Luxembourg and Frankfurt which offer a friendly jurisdiction with a significant change to regulatory statutes making a Canadian domicile less attractive.
There are no long term plans to re-admit the company to trading and remains dormant.
Shareholder meeting
Future direction of CIC Capital Fund will be voted byway of a special shareholders meeting. Shareholders will receive by email on or before June 4, 2021, an Information Circular and voting form. Major shareholders over 5% and insiders will abstain from voting in favour of minority shareholders.
CIC Capital Fund Ltd is a registered Luxembourg securitisation Société anonyme corporation. Established in January, 2020 under Luxembourg law dated 22 March 2004 on securitisation (Loi du 22 mars 2004 relative à la titrisation, telle que modifiée). Securitisation is the pooling of various illiquid assets and financing the acquisition of these pooled assets with the issuance of securities. The company holds seven separate compartments that allow for seven different securitisation transactions (organisme de titrisation) within the meaning of the Securitisation Law, undertakings which carry out the Securitisation in full, and undertakings which participate in such a transactions by assuming all or part of the securitised risks.
Directors:
Mrs. Zamyra H. Cammans - Luxembourg
Mrs. Sheena E. Gill - Luxembourg
Mrs. Meenakshi M. Ramassur - Luxembourg
Securitisation Principal: Stuart J. Bromley - UK
Accounting Year: 30 April
www.SECURITISATION.com
Summery of Operations
CIC Fund Securitisation commenced operation in February 2020. The company focused on medical science and technology companies that were processing patent applications (“IP”) that needed to raise capital by debt notes of plus Euro 30,000,000. The company has entered into a number of client agreements, and one client company has been transferred to a specific securitisation compartment as primary security against a EURO 30,000,000. A second security against the debt notes is the requirement for the client to be a regulated public issuer. The public listing is conducted separately by CIC Capital Ltd.
The company charges no capital raising commissions. Each client agreement
received this
CORPORATE UPDATE MAY 30, 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
Summery of Operations
CIC Capital started providing transaction advisory services from February 2019 to client corporations. Cash received from clients are held in trust until performance obligations under contracts have been completed. The company earned both tradable and client shares that when admitted to a stock exchange will see significant value recorded as share-based revenue. CIC Capital has resolved to publish revenue results after year end December 31, 202,1 by way of audited financial statements (2 years).
Staff resources have also been significantly increased to maintain the highest level of client services. Cloud based document databases have been developed and established so the client can track progress and documents in real-time.
Shareholder meeting
Shareholders by way of a special meeting to vote to approve corporate actions that will affect the value of the Company. Shareholders will receive by email on or before June 2, 2021, an Information Circular and voting form. major shareholders over 5% and insiders will abstain from voting in favour of minority shareholders.
Key service organisations:
PACIFIC STAR CORPORATE FINANCE LAW
CIC Capital Fund Ltd (“CIC Capital Fund”) is a Canadian regulated public closed-end fund. The company ceased normal investing activities and operations.
dougiem36
That's exactly what I thought too.
wasn't accounts/revenue summary already delayed from last Sept to around April just gone for client revenue to be recognized ? does not once again distill any confidence....
wonder what smoke are mirrors are coming out tomorrow....
Think the update on Monday will be better than expected.
Monday 31st is not a bank holiday in Canada.
Look on Sedar for an update.
https://sedar.com/new_docs/new_en.htm
Hope Springs Eternal.
The Can is Getting Rusty.
Mmmm - bank hoilday monday, hows that going to workout ?
Just sent this email to Stuart.........................
Hi Stuart,
When do you expect to have the revenue summary to January 31st on the CIC Capital net site?
Are we going to get some kind of info on the progress of the CIC companies?
Hope you are well and I look forward to hearing from you.
Kind Regards.................................
And I received this reply from Stuart
Thanks Ian,
We will issue a update for CIC Group Companies on Monday 31 May 2021.
The financial statement for CIC Capital is under consideration but likely we will issue a two year audited 31 Dec 2021. This is some time off but allows for client revenue to be reflected.
Kind Regards
Stuart J. Bromley
The CIC Capital Fund ..........Angel Funding Group site looks to have been updated.
http://www.cicangel.com/index.html
Click on the CIC Fund website and you now go to CIC Securitisation S.A.
https://www.securitisation.com/
Info about how they do it and what it costs etc.
I hope they have been able to rustle up some business.
Well you two could well be right but you never per know.
No
With zero accountability & no consequences (thus far) for his actions & with shareholders funds out of reach - what do you think ?
we ever going to be listed again.This is a right pain.
Poet Technologies PTK.V
Goldspot Discoveries SPOT.V
My portfolio now contains only two listed stocks. Both listed in Canada
What has become of any of the assets, free shares etc.?
Will we ever know?
From The London Times:
A Well-Planned Retirement
Outside England ’s Bristol Zoo there is a parking lot for 150 cars and 8 buses. For 25 years, its parking fees were managed by a very pleasant attendant....The fees for cars ($1.40),for buses (about $7).
Then, one day, after 25 solid years of never missing a day of work, he just didn't show up; so the zoo management called the city council and asked it to send them another parking agent. The council did some research and replied that the parking lot was the zoo's own responsibility. The zoo advised the council that the attendant was a city employee.
The city council responded that the lot attendant had never been on the city payroll.
Meanwhile, sitting in his villa somewhere on the coast of Spain, or France, or Italy, is a man who'd apparently had a ticket booth installed completely on his own and then had simply begun to show up every day, commencing to collect and keep the parking fees, estimated at about $560 per day -- for 25 years. Assuming 7 days a week, this amounts to just over $7 million dollars ......and no one even knows his name.
Found this old CIC Resources news on my computer.
Does anyone know what became of this asset?
"CIC Mining earns interest in gold concessions
17 November 2010 | 14:14pm
StockMarketWire.com - CIC Mining Resources has earned interests in significant gold concessions following a deal with Japanese Eco Energy Group's African subsidiary, Eco Project Co.
CIC Mining Resources will provide technical, legal, strategic and commercial advice on Eco Project Co's gold exploration concessions in the Twangiza-Namoya gold belt in the Congo.
It will also help in the selection of other suitable third party advisers where needed and assist in introducing leading Chinese gold miners to build and fund the project.
Eco Energy has four gold exploration concessions - PR5886, PR6565, PR5277 and PR12102 - covering a combined area of 1818 square kilometres in the Twangiza-Namoya gold belt which is next to the Banro Corporation lease concessions.
Banro Corporation is a Canadian-based gold exploration and development company with four wholly-owned properties, each with mining licences, along the Twangiza-Namoya gold belt.
Banro Corporation has so far identified 6.72 million ounces of measured and indicated resources, plus inferred resources of 4.46 million ounces.
CIC Mining Resources now holds a 48% interest in Eco Energy and has the exclusive right to facilitate a future public listing.
Story provided by StockMarketWire.com
Years to the day since the last RNS.
.
CIC Gold could be sitting on 10 MILLION oz of Gold and it looks like we will never know because as far as we know no one has done any prospecting on the property for a long time. Not sure how many years now as I have lost track of time.
Afraid to say we will be clog popping before this lists - death and lack of listing are two certainties - to mis quote