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Hi Candybelle, yes digested most of it. I think that Stuart has pulled it off with the change of direction into Securitisation, and the areas into he is heading. I am hopeful that the listing of INNO Med will lead to the listing of CICCapital at a decent listing price. CIC directors on the BOD of INNO Med, is a good sign. Just have to understand that the Company can only move as fast as the regulators and accountants, which is never as fast as we would like.
On a personal level, I wish they would start to list CICGold.
Last Friday Joe Yangtze (not sure of spelling) said that he was going to digest the info that had been sent and would post his thoughts later. I was looking forward to his views as I think that he is fairly friendly with Stuart and probably has more of a clue than myself of what it is all about. We will need the new certificates Mac before we can send the voting forms in anyway to clarify exactly how many shares we currently have. I'd more or less given up on this anyway so am not holding my breath.
Without wishing to be rude in any way whatsoever, I'm quite frankly staggered at the level of naivety in so far as there being any level of trust in this so called CEO . . . . . imho Bromley effectively did a runner ages ago. All he has to do is keep fobbing shareholders off.
To say that something isn't right would be comical. There's nothing right about this situation & hasn't been for years since delisting. Shareholders time would imho be better spent tracking him down & issuing a petition of proceedings against him & the Company. Just my tuppence worth but that's more than the shares.
Hi Stuart,
Will you be sending out newly updated share certificates?
Has CIC Capital Fund been closed down and I now own shares in CIC Securitisation S.A.?
Are Securlinx, InnoMed Tech, Pearl Adventure, and Intosol still clients?
What has happened to CIC Gold?
Kind Regards ???
Ian,
CIC Securitisation SA is a indépendant CIC entity. To establish a Luxembourg Securitisation entity and gain approve is a multi million Euro expense. The exercise took a number of years and was a very high risk exercise. It had to be funded by privately due to the risk.
We have completed Securlinx, Intosol and Pearl which are small. We are undertaking quite a few large client which I will to name and remain silent on their request.
On new certificates, CIC will advise at a later date.
Kind Regards
Stuart J. Bromley
So........what of CIC Capital Fund and CIC Gold?
Are we left with just CIC Capital?
What happened to all the assets owned by the old CIC and the reason we bought shares in the first place?
I don't know whether to bother voting because he will just go and do whatever he wants anyway and we have no real say in what happens next.
Maybe you need to email Stuart. I have e-certificates (from 2017) as Selftrade who I was with in those days staopped dealing with CICC companies. There was an arrangement which cost around £50 per company (CICC fund, CICC capital & CICG) to get the e-certificates. Therefore, I don't get any notifications from my broker (now HL). However, I read last week that someone had spoken to Stuart and about the vote. I emailed him and had a reply saying that somehow I had been lost from their email list. However, he did send me details of the upcoming vote and yesterday there were some details of their income etc. I'm interested in what anyone else thinks about whether to vote yes or no particularly anyone with more knowledge than me about the whole thing. I have had my shares since 2014.
Im sure its me but I can’t see a corporate from last night. Any help anyone?
I’m not voting for anything I have not been informed of.
To be honest, I had no idea there was a vote until I used this (ouija) board this morning.. it’s easier to contact the dead than get info from CICC. And look at me! I should be demanding money, but I’m grasping for the odd bone of an email to be chucked at me.
I can’t say being a CICC investor has been life enhancing.
Corporate update received tonight
My take on this, is that by voting in favour of this motion, you will be seriously prejudicing yourself in the event of wanting to take action against the board.
https://condomadness.info/AGM-ratify.html
At some point during the AGM, usually after the President's address, the Chair may make a motion for the meeting to approve all of the actions taken by the Board of Directors for and on behalf of the corporation since the last AGM.
If there is an objection, the Chair may say that this is merely a housekeeping resolution. It is no such thing.
If passed, this resolution means that the owners give their approval to all decisions made by the board since the last AGM which is no mean trick since unless the owners read the minutes of all the board meetings that were held since the last AGM, it would be impossible for them to know what decisions they are being asked to give their blessings to.
May be used in court
The board can use this resolution against any owners who sue the board. This statement is paragraph [8] of a court ruling where a group of owners sued their board for passing a special assessment.
At the Board’s Annual General Meeting on May 30, 2011, the unit owners ratified, over the appellants’ objection, all of the actions taken by the Board of Directors for and on behalf of Metropolitan Toronto Condominium Corporation 626 for the year ending December 31, 2010.
Opposing this motion
There are two grounds for opposing this motion. One is technical. If the motion was not included in the agenda included in the AGM package, you can argue that it cannot be raised at the AGM.
A very practical objection is that if the owners do not know what actions the board took since the last AGM, then it is unreasonable for the owners to give blanket approval for their actions.
The minutes for all of the board meetings should have been included in the AGM package so the owners could see if the board's actions is worthy of being ratified by the owners.
"The Board and Management is requesting that the shareholders of the Corporation confirm and ratify all
previous acts, deeds, and resolutions of the Board of Directors of the Corporation since the last Annual
General Meeting dated 20 December 2011."
That's a BIG ask, considering we have very little details of the actions in that extended period.
The email I had from him said that he would be sending details of company income and that of Directors today. I haven't received anything yet. Anyone else?
Today is the 7th where I am in England, so presumably the same date in Scotland where Stuart is allegedly.
No update so far.
However today is the 03.06.21. Wonder what is going on.
Yes the 4th not the 2nd my typo
Thanks Joe.
It was very short notice to get it organized by today .
Mine too. I was just going to ask if anyone had received one.
i think my email got lost in the post.
I think there are probably ructions in the Board Room. Putting back a listing is never a good idea, particularly for small investors.
Yes l have all very positive but await the CIC FUND update due today
Has anyone actually spoken to Stuart Bromley about this ?
https://www.londonstockexchange.com/news-article/market-news/corporate-update/14924191?lang=en
Did this corporate update get posted?
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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