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That's 20p per share I assume......... if only we could get that
No mention of offer value... but 100% shareholding, so that’s promising, but would like a value... just need my 20p back!
Yes but how much per share? whats teh offer price?
Do you think we will get anything back or just be a write of for share holders?
Finablr is back!
Well it hasn't sunk yet. Probs caught with his hands in the till.
Anyone know why the SP has suddenly appeared on Google and the trades today?
The SP has gone down to 0.6p in my Equiniti account. Strange?
If it comes back open price looks to be 0.60 - 0.75 but trades are showing as cancelled in LSE.
Is this going bust?
Any idea what's happening after this mornings trades.?
Just come across this..it seems they’re going after them...those culprits have now all been identified.
https://www.google.co.uk/amp/s/www.cityam.com/former-bosses-of-finablr-and-nmc-health-face-fraud-accusations/amp/
The former chief executives of Finablr and NMC Health are among a group of 17 people who are claimed to have embezzled millions of UAE dirhams from the firms, the Sunday Telegraph reported today.
According to a report prepared for billionaire tycoon Bavaguthu Shetty, who founded the companies, brothers Prasanth and Promoth Manghat, who led NMC and Finablr respectively, used forged documents to siphon off the funds.
The report, which was prepared by Emirati firm Wise Consulting and commissioned by Shetty himself, sets out allegations against the 17 based on the billionaire’s bank records.
Back in April Shetty had launched an investigation into the alleged fraud, saying that it had been carried out by a “small group of current and former executives at these companies”.
Would be good in Fin cancelled all Shetty's shares then relisted. They'd come back with a much lower Market Cap but remaining shares could be north of a pound each lol
Apologies correction, misread the CEO of NMC and his brother..
Those named in the report include Prasanth Manghat, the former chief executive of NMC Health, and his brother Promoth Manghat, former chief executive of payments firm Finablr and its UAE Exchange brand.
Mind you he’s coming out fighting..and his own brother! That’s damaging and I’m sure he wouldn’t be coming out in public against his own brother if he was part of this...he’s out to clear his name!
Not surprised it's delayed. Can't publish accounts if you don't know what you've got and where it is.
Yep more than a glimmer..just need the cash to be returned!
The industry expects some details to emerge on what Finablr and local regulators intend to do with UAE Exchange. Will it go the way that the other D. B.R. Shetty founded enterprise – NMC Health – just announced? Of breaking up into much smaller enterprises and trying to find buyers for the rest?
Within Finablr, UAE Exchange was the crown jewel. Consumers’ trust in the brand and its services will need restoring before it can even think of a comeback.
Coming weeks will give some insight of what’s in store. But for now, some of the outlets have removed framed pictures of Dr. Shetty as the once famed brand distances itself from its legacy.
UAE Exchange customers refunded: https://gulfnews.com/business/banking/uae-exchange-customers-finally-get-their-money-back-after-months-of-uncertainty-1.1597982106166
There may be a small glimmer of hope that Finablr will come back.
Good news for finablr today:
Following prior notification from HMRC concerning the proposed suspension of the UAE Exchange UK Limited ("UAEEx UKL") business registration, the Company has written to HMRC to address the issues raised in the original notice of suspension, to the satisfaction of HMRC.
The Company is pleased to announce that the proposed suspension of its business registration will not be imposed, thereby allowing current operations to continue.
Bye bye Bavaguthu. Don't forget to return the £Millions on your way out.
Too many high profile people and banks involved..,this will have to get sorted to save face one feels...return the cash right thing to do surely?
https://www.aljazeera.com/programmes/aljazeeraworld/2020/08/br-shetty-missing-millions-200801152710067.html
Hope to see some update now from the investigators, has been several month now without one. I think they will recover all the monies...mainly because they will be able to chase all the culprits..did Mr Shetty not say that he wrote many cheques!
The Company announces that it has changed its accounting reference date from 31st December to 28th February.
As a result of this change, the Company's next audited financial statements will be prepared in respect of the 14-month period to 28th April 2020 and are required to be published by no later than 28th August 2020.
https://www.investegate.co.uk/finablr-plc--fin-/rns/change-in-accounting-reference-date/202006231319458237Q/
Think it’s fair to assume from from travelex RNS that the debt is gone from FIN and part of the admin.
FIN debt will no longer include any liabilities from Travelex, this company should confirm. It looks like pressure is now intensifying on Shetty & Co, handover hand money back or face legal action which will leave their lifelong reputation in tatters...hopefully they will play ball and handback the cash and save face...it would be a shame if they had to be drag through the courts...