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Yes, I had one before that delisted and then disappeared into the wilderness. I think our saving grace may be the appointment of Sir Mark Grant as a NED. He seems pretty high powered and with his experience of arbitration he must be a plus. Well I hope so!!
after 12 months if they havent relisted then then get delisted from the exchange, become a different type of business all together. i've had two or three examples like this before and in every case they have never come back to the exchange or not for long and you see the business drift off in both comms and our ability to get info or cash from them.
i'm not sure on the next steps as in what they choose to do. i think we should recieve an update however its not unusual to see nothing and in this case i hope it is different. benefit of being private is they'll say less cost. with the wars and recession coming i'm not sure on the near term future of fox, they need the court win
Quite right john , I'm not to certain what the protocol is when shares are suspended but the company is still trading (we hope!) and so they can RNS the usual news you would think? I definitely think some update on trading would be good after all the end of June is our half year.
As regards the compensation situation, this is going to be a case of, yes we've won this, or, no we've got nothing. But think on this, If we NET £42 Mill, which is some 25% of our claim, then that equates to 10p per share. Half for us shareholders and half for the company to grow the new business and then we're all living in clover!
The fly in the ointment may be that even if we win the Kosovan government may well have no money anyway! If this is so then CG will have to be really inventive! All good fun folks!!
Think it would be responsible of the BoD to keep us informed here
Deary me john, you really sound in the doldrums. A couple of things: If you visit the website the pictures are hardly glorified sheds! Sir Mark Grant is pretty high powered and would not have come on board unless he thought the project was viable and to raise £400K at 2% a year is like for nothing so again the project must have some merit.
The Stone Alliance is in abeyance and denying access to the Malesheva quarry may be well be used by the legal team for saying it's not being a starter for 10.
My concern is that the company will consolidate shares in the new company when they are re-admitted but we will wait and see. Any way cheer up john - you may well be pleasantly surprised but at least you won't be disappointed!
I only occasionally check in here now.
Promising or not, it seems that after all the bullish talk of Italian quality marble mined at huge margins, prestigious Chelsea developments, Middle East interest, a pivotal role in the Star Alliance ( or whatever it was called) etc. then adding a glorified shed start up seems a bit desperate.
Most we can hope for is a negotiated settlement in the legal dispute (no way will anything like the full claimed damages amount be granted to Fox when to date it has never shown even the slightest hint of ever breaking even) then we can all get out and move on.
Al in my humble opinion, as aever.
Thanks bluerill for the dose of realism. As I've said before CG has always played the game and the caliber of Sir Mark Grant means that the business strategy should be sound. Presumably as the shares are suspended we will get no RNSs but have to wait for the prospectus - lets hope it's not long now.
Nonsense. The period leading up to the suspension had no mention of any immediate financial distress at FOX nor more importantly, was there absolutely any mention of it in the RNS announcing the RTO. This suspension is clearly the result of a POSITIVE effort to reverse in a promising business at a favourable valuation for FOX shareholders that early signs indicate could create real upside value. For heaven's sake, for all the stick he takes here, Chris Gilbert was able to raise £400k from what is undoubtedly an informed, inside investor to loan to Eco that, given the tiny interest rate and extremely favourable repayment terms, is essentially an equity investment in the combined company. I know that's not definitive proof of the viability of Eco Buildings, but its certainly far superior evidence of how knowledgeable professionals view Eco-Fox than the lazy, idle speculation of a couple of bulletin board warriors. For these and other reasons, the vast balance of probability is that, of course we will re-list.
Well up to now CG has always played the game so my bet's on him - the announcement did say that current holders were protected in regards to any Compo and as he is a major one I hope that's right for all holders sake!
highly unlikely. this will probably be taken away now, bought out by chris and team for £1 and theyll sail off into the distance.
No.
Do we think Fox will ever be relisted? Must admit I have written off my investment/ speculation/ bet here
Well MyLastQuid, Can't answer that - but what a cracking eye opening post. Many thanks - thoughely enjoyed it.
Wonder what the water does..
https://www.youtube.com/watch?v=aggs3ErWe0E
No worries, Truro.
For all we know Eco will be a brilliant company. We will have to wait for the prospectus. But Fox floated as a start up (it had already been around a year or two I think but wasn't in production) in 2012 ish(?) and here we are almost 10 years later reversing into another start-up after a circa 95% share price fall.
I hope for all shareholders Eco will turn out to be a better business.
Companies house data is here https://find-and-update.company-information.service.gov.uk/company/13774419
if that does woth then google companies hosue 13774419
Under filings the confirmation statement from the 4th April shows LINDEN HOLDINGS LTD and GENARD KADIU as new shareholders, so hopefully they are putting in capital. We shall see.....
Hi NotMuch. Thanks for your reply. I looked again at the website with your post in mind and it indeed states that the technology has been acquired. It would appear that you're right and so please accept my apologies and forgive my rudeness! Unfortunately I'm now back to being a little uneasy about the whole thing. As I said before I would have preferred Fox to be in profit before this happened. It now looks more like Compo or bust!! Thanks for the Info.
No the technology is 30 years old not the company!
"Technology acquired by Eco Buildings has been proven in the construction of high quality, affordable, low-and medium-rise residential and commercial buildings for well over 30 years"
The tech is pretty common to be honest - loads of companies do it.
I think that the company is a start-up with no factory, no employees other than directors, no customers, no membership of trade organisations, no VAT number (none on the website), no historical accounts, just three directors. I'm waiting for anyone to show this is not the case.
Companies house shows that the company is recently incorporated, is not a name change, and has very few assets.
Hi not much, If you click the link on bluerill's Friday post you will see the web site says 30 years. This will be a company name change in order to facilitate the new listing. The Company is the same - the name is not.
Hi Truro
re: NotmuchinSales. "yet another deal with a recently set up company" Your on the wrong board or of your trolley.
When was eco buildigns set up? I think a couple of months ago.
What is the company number and VAT number?
Please correct me!
Indeed he is unvrkw, and from the website he is hardly a Captain of Industry but seems to have a reasonable level of experience and ability to be a worthwhile asset. Additionally he could well be an important link in the RTO. Following bluerill's excellent informational posts I'm beginning to be more relaxed about the situation. One of the plus points for me was the appointment of Sir Mark Grant. It's was obviously done with the RTO in mind and I can't see a person of his caliber being involved if the business strategy was flawed, an element of risk? Yes. But with a far greater chance of success. And Compo to boot!!
One of the directors is from Kosovo, dr etrur Albani??
truro - you're welcome. fwiw, the CLN is a standard investment vehicle for this type of pre-IPO/RTO situation so I wouldn't assume anything about Eco's financial situation off that. It's certainly a growth industry (and in my mind, recession-proof which should prove attractive to potential investors as this RTO progresses), so when the prospectus/pathfinder is published, we'll see just how potentially competitive EB is within it. However, if it turns out that EB is a playa, then a constant need for growth capital is to be expected, even welcomed.
Many thanks bluerill for the link. I've reread the RNS after visiting Eco's site. I'm hopefully beginning to sort of make sense. Eco is over thirty years in production in two or three continents so it's certainly established and obviously in some of it's upmarket sites particularly India, China and the Middle East you would think an ability to offer bespoke marble would be an advantage. Interestingly the ability to tie down roofs could be a compelling sales pitch in certain US States!!
Obviously we know nothing of the finances of Eco Buildings but there probably not great hence the CLN. However the energy economic advantages of construction and the insulation properties of the finished buildings will become more compelling in the current energy and climate crisis. Many thanks again.
NotmuchinSales. "yet another deal with a recently set up company" Your on the wrong board or of your trolley.
Domain Name: ECO-BUILDINGS.NET
Registry Domain ID: 2682309447_DOMAIN_NET-VRSN
Registrar WHOIS Server: whois.enom.com
Registrar URL: http://www.enomdomains.com
Updated Date: 2022-03-17T17:42:55Z
Creation Date: 2022-03-17T17:41:18Z
Oh dear
yet another deal with a recently set up company!
This appears to be an interesting business potentially
https://www.eco-buildings.net/