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Have just called the FCA who tell me the Market Abuse Team is now looking in to the allegations I put in letter to them in January. They do not, however, provide feedback or updates. It would help if any other ripped off investors also emailed FAC Market Abuse Market.Abuse@fca.org.uk with any information they have. What would, of course, have the biggest impact would be if a whistleblower(s) could contact them. I quote from Market Abuse's response: 'If you wish to report your concerns confidentially to our whistleblowing team, you can email whistle@fca.org.uk or call 020 7066 9200'
Please encourage any potential whistleblowers to contact the FCA - it would greatly help in stopping these gangsters and the daylight robbery that they specialise in.
I have also sent in my email for what its worth. So far AIM have been a little pathetic frankly in terms of how all this was handled thus far. I do agree a whistle blower is important at this stage frankly and usually that always comes a year or two after a complete collapse like this. Almost every RNS seems to be an outright lie to date and no audits no accurate accounts, infact made up accounts. And the directors of Deepverge seem to be just transferred assets over to another AIM company Microsaic and acting like it is all normal. Infact Microsaic have only last week stated (again it could be a complete fabricated RNS) Modern Water is a good business, with clients and they are hiring staff again and selling to those clients, bizarre behavior. Hopefully there is a reaction from the Market Abuse Team to this.
Thanks for posting the info on complaining to the FCA.
I am abroad at the moment but will get around to writing my own complaint when I get back.
The Microsaic RNS of 16/02/24 and the latest (non independent) advice note from Turner Pope are illuminating and a must read for those of us ripped off here.
Incidentally, although Gerard Brandon, as former CEO, attracts most of the anger and criticism, in my view Camillus Glover, the former Chief Financial Officer, also has a lot to answer for.
Sorry, it was the Microsaic RNSs of 16/01/24 that were the illuminating ones, not so much the 16/02/24 one.
Don't forget the Glanaco business. Bought for 1.2m euros, if I remember correctly, and then sold back to the same owners for 1 euro. One of the Fitzgerald's worked for MW and now works at Glanaco. I am confident this was another orchestrated transaction for the benefit of GB's friends & family.
Just to clear this up, Glanaco has nothing to do with Modern Water or Labskin, it is a company belonged to a relation of ex Director Fionan Murray, everyone who worked in the York Facility is aware of this strange acquisition for 1.2 million, it was sold back to this relation by Nigel Burton for that 1 euro you mention yes. Fishy you say! Not of importance but a similarly embarrassing fact is Camillus Glover middle name is Gerard, yes Camillus Gerard Glover, he was indeed baptized by Gerard Brandon! Now we all wonder if Gerard Brandon middle name is Camillus! The charade continues over at Microsaic PLC. where a few rampers exist on the forums trying to give the impression everything is amazing!
Not 100% correct melanocytes. Glanaco was the warehousing and shipping hub for modernwater, all the staff did indeed think it a strange acquisition. Though there was so many lies and dodgy goings on it was mostly ignored. Like the day a Glanco truck turned up to transport microsaic MiD units across europe with customs paper work declaring them as 'scrap wheel wash parts'. One of the many reasons it was purchased was because DV could take a large grant from enterprise Ireland to purchase it, by claiming it was going to be a manufacturing hub, so getting it on the cheap, Glanaco also had money in the bank and good credit lines. The reason it was sold back for a euro? DV took the cash, ruined the credit line and stacked it with debt to fund other parts of the DV empire. If they treat family like that what chance did the investors and staff have?
@yankee_d1000. modern water and labskin for that matter were basically viable business , MW needed to modernise and LS re focus but the products had customers, they and DV as a whole failed because FM and GB insisted on spending millions of euro on STC and PD respectively long after both had proven to be failures.
As a former employee I am trawling through the RNS's and putting together an email to the FCA pointing out the parts that I know to be lies. I can't prove any of it, so it will likely to come to nothing, but it is all I can do.
I am very much in the camp of feeling badly shafted by Deepverge and want to write to the Regulators to support others doing the same. However, I don’t really have the time to research chapter and verse to do so. Anyone willing to share their representations so that I can piggy back onto theirs?