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Hi Valency. As always a very informative post. I believe Bell was Mrs Thatchers "right hand man" in days gone by? Its all so desperately sad. I have lost an arm and leg......like so many others Im afraid. Cork Gully confirmed to me today that the shareholders will receive nowt' as DCP are so heavily indebted, hence for tax purposes of "no value"! Lets hope BellP are forced into full disclosure and light shines into all corners of their nasty crimes. ATB
Hi BobZ. Indeed it's widely believed that Lord Bell was instrumental in her successful reelection. He states the CEO & Board were fully aware and disagreed with his view & warnings - http://www.fin24.com/Companies/Investment-Holdings/lord-bell-says-pr-firm-ignored-gupta-warning-ceo-hits-back-report-20170712 The firm has a contentious history and I guess the more they slid through cracks in the past the more brazen they become while feeding on that magic mushroom known as 'impunity'. http://www.bbc.co.uk/news/technology-16084861 Quote: Naomi Klein - "The truly powerful feed ideology to the masses like fast food while they dine on the most rarified delicacy of all: impunity." Thanks for advising Cork Gully nil value. I also found PL's official email at DCP no longer functional as a matter of interest. I've relinquished this one to my 'f*cket' list. As with yourself & the many others, you're not alone in losses and to be honest it was pretty tough taking that 1st tentative step to recovery through continued investment in my other holdings but simply have to in a bid to claw back. Will be watching the hearing outcome 18th Aug & wish you nothing but the best in future.
Hi BobZ, apology for late reply but had a hectic time leading up to my vacation which I'm currently enjoying away from the looney bin. As yourself I've been eager to hear the findings of the PRCA hearing into Bell Pottinger illicit racial campaign it ran in South Africa on behalf of the corrupt Gupta/Zuma cronies with the central theme "racial economic emancipation" to stir up geo-political division based on so called "white minority capital" Although I have not seen an official release from the PRCA there is widespread media suggestion that Bell Pottinger have in fact been found guilty of breeching PRCA codes of conduct with the CEO James Henderson formally resigning yesterday. http://www.biznews.com/global-investing/2017/09/04/full-statement-james-henderson-hes-quit-bell-pottinger-ceo/ The so-called independent investigation findings led by Herbert Freehills LLP as appointed by Bell Pottinger was released as follows & note findings page 2 - http://ewn.co.za/2017/09/04/findings-of-independent-probe-into-bell-pottinger-s-conduct Some of the findings below which even Lord Bell describes as an attempt to "white wash" a much revealing truth! 8. The BP account team was primarily responsible for devising the strategy behind the economic emancipation campaign and for creating and commissioning content for the social media and press aspects of that campaign. Certain material that we have seen that was created for the campaign was negative or targeted towards wealthy white South African individuals or corporates and/or was potentially racially divisive and/or potentially offensive and was created in breach of relevant ethical principles. 9. We understand that it has been alleged by various sources that the BP team invented the term "white monopoly capital". Whilst that phrase was, on occasion, used by the BP account team as part of the economic emancipation campaign we have seen no evidence to suggest that the term was one that BP invented. Indeed, we have seen references in publically available material that suggest that the term had already been in use for some time by the time that the BP account team commenced its work on the Oakbay mandate. 10. In addition, we have seen evidence that the BP account team used other tactics in relation to the economic emancipation campaign which arguably breached the relevant ethical principles, including taking steps which might mislead or undermine journalists who were asking questions in relation to the campaign. Cont....
Cont... The Role of Senior Management 11. It was recognised by members of BP's senior management at the outset that BP's client was controversial in South Africa and that the economic emancipation campaign was sensitive and related in part to the issue of race. While we do not consider that it was a breach of relevant ethical principles to agree to undertake the economic emancipation campaign mandate per se, members of BP's senior management should have known that the campaign was at risk of causing offence, including on grounds of race. In such circumstances BP ought to have exercised extreme care and should have closely scrutinised the creation of content for the campaign. This does not appear to have happened. 12. Furthermore, members of senior management should have taken care to ensure that the BP account team was structured appropriately for such a sensitive mandate. It appears to have been broadly accepted that the economic emancipation campaign work stream required a team with significant geopolitical expertise and yet the bulk of the work was undertaken by a team specialist in corporate communications and reputation management, rather than the geopolitical environment. 13. We have not seen evidence that members of BP's senior management knew about the detail of the work being done on the economic emancipation campaign or saw or knew about the potentially offensive content that was being created or other tactics being employed at that time. 14. Further, there are certain instances where members of senior management were provided with information or confirmations by the account team in relation to the work being done which were inaccurate and misleading. However, there were a series of opportunities for certain members of senior management to discover these matters which were missed. In addition, members of senior management with day-to-day supervisory responsibility failed to put in place policies and procedures to minimise the risks associated with this account, including any formal process for the ongoing monitoring of the account and the work being done. You can listen to the audio interview of Lord Bell amongst others in discussion of the H. Freehills LLP report and at around 9 minutes it is alluded that Bell Pottinger have been expelled - https://soundcloud.com/biznews-com/lord-bell-tells-bbc-hendersons-exit-as-bell-potts-ceo-not-enough If Lord Bell calls the report a soft "white wash" then the real damning evidence is held by the PRCA and eagerly await their final word. Much damage was done incl. here as any hopes of attempting to refinance during such illicit toxic geo-political campaign let alone negotiate with militant AMCU Union was dead in the water!
Cont... Just in:- PRCA finding of guilty and expulsion from the body - "Chief executive James Henderson resigned ahead of the five-year expulsion from the PRCA. His departure was "necessary, but not sufficient", Mr Ingham said. "Bell Pottinger has brought the PR and communications industry into disrepute with its actions, and it has received the harshest possible sanctions," he added. The firm was found to have breached two clauses of the PRCA's professional charter and two clauses of its public affairs and lobbying code of conduct. http://www.bbc.com/news/business-41151361 ---------------------------------- My view is that the findings implicate Bell Pottinger more than they realise or care to acknowledge - A) Complicit in covering up Gupta/Zuma corruption by attempting to divert attention away from those investigations and targeting investigative journalists in S.A working on said evidence. B) Directly responsible for economic harm to S.A. as a result of their illicit racial campaign and support of corrupt clients which eventually resulted in a investment ratings downgrade for S. Africa. C) A spinoff of the elicit campaign cost many local corporates in earnings & reputations. D) The mining industry being the largest economic sector in S.A. was a direct target of the "white minority capital" campaign stoking/inflaming militant groups & labour Unions in the name of so-called economic emancipation while their corrupt clients "Zupta's" are all multi millionaires and fat cat corrupt ANC Exec's already own massive free stakes in every existing S.A. company through BEE. E) Unbeknownst to shareholders or the Board, now that there is clearer insight into the secretive, illicit & unscrupulous campaign, companies like DCP never stood a chance to negotiate with the freshly stoked up militant AMCU nor was there any chance in hell to re-capitalize following the mine flood as even investors & creditors such as Laurelton (Tiffany) grew wary of the geo-political rumbling designed & driven by Bell Pottinger over the corresponding period. I'd say unfortunately it's come to light too late but as PL can no longer be reached via DCP corporate email, perhaps any shareholders still wondering the outcome at DCP should email Cork Gully. For what it's worth, perhaps suggesting BoD's, Creditors & Shareholders alike convene to consider possible joint legal recourse? ATB
BobZ, I emailed 'Cork Gully' on 5th asking the same as well as progress report on the administrative process but have not had a reply yet. Can you confirm any reply? I used the email link on their website gildagalluzzo@corkgully.com Please advise if you have another & thanks for sending your enquiry to them as well. Jaf, it's a big blow to everyone myself incl. Please also email Cork Gully as the more enquiries they receive from shareholders in this regard the stronger the interest indicated. Thanks in advance! ATB