The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
ODR1 - Shareholders haven't been detrimental to Frontera. However, YA were taken to court for selling shares they didn't own and Mourant were dropped as Frontera's lawyers. Therefore, there's reasons why SN doesn't want to pay them. As for YJ, we don't know if they've been paid.
I need to correct myself - the company case against Mourant was settled.
WhamBoy – I don’t think the website is necessarily linked to Cayman. The domain name and the company name are likely trademarked and owned elsewhere. The website has never made any reference to the Cayman Islands. Still, worth watching just in case.
The company – Frontera Resources Corporation – is, or rather was, licensed to operate in the Cayman Islands, but Frontera Resources Corporation is also licensed / registered in other jurisdictions, so it is likely they can keep using the name. The company continues to have the FRC name and several other entitles registered and able to conduct business.
ODR1 – I don’t recall any deal to pay YA via the Texas case – this was a summary judgement and has not been tested on its merits which the company is appealing. The company is counter-suing Mourant which might explain why payment was withheld.
Having been reflecting, my suspicion is that it's more how to treat capital losses that will be relevant here alas, and, they can be carried forward to offset against future gains.
Our shares are now no more, and, having fed us lines for years (yes, years) to be patient and soon we will hear good news, having seen our shareholdings now destroyed, we are still being fed the same message. We need proof now that we have shares in the new entity where the asset is (presumably FRUS).
Happy to be corrected, but from what we already know, SN has made deals to pay both YA and Mourant and, not only hasn't kept them, but has now reneged on them. Moreover, he engaged Yellow Jersey then didn't pay them and now they've, unless they've been paid, also lost their monies.
From where I sit we have no evidence to trust the guy, yet we are all sitting here smiling as he has given us the same words he probably gave the others he duped, and has been giving us already for years.
All the time, any window for us to do anything is closing fast.
Obviously I sincerely hope this is just paranoia but what do you guys think?
Whamboy,
I don’t believe there is a lifetime allowance limit any more.
‘The removal of the LTA means that the standard LTA will not apply as a lifetime limit for all pension savings with effect from 6 April 2024.’
I am not an Old Prune and not like any Royal but I am presentable and would be
delighted to be part of a film that might rattle the AIM Mafia. FRR was the
last straw. I still do not understand why I got sucked in and have no idea
what is going on. HL knows my name and address and told me to move on when I
asked searching questions . I am still there .
Soss613, thats nearly a tabs like comment
https://m.youtube.com/watch?v=0AEj3LA2vSo
I doubt we will be getting clobbered for capital gains tax a return of our money would be great but if we have to pay the tax I would be more than pleased.
The other thing I’ve thought about today since Looed’s post is the implication for our isa and pension accounts. Presumably the shares will be removed from my fund and shares (already moved by HL from my isa) and from my pension account, and be replaced by new shares outside of these wrappers. Likely to be liable for capital gains tax here in the uk? Possibly advantageous if you close to your lifetime pension allowance? Disadvantageous if you were hoping they’d be returned to your isa?
The FRC website is still live (and seemingly unchanged from its previous very brief state).
https://www.frontera-resources.com/
I wonder for how long it will still be there - who after all has paid for it? Maybe FRC, and therefore it’s now owned by the liquidators, or SN etc on a personal basis and probably likely to be updated at some point. I’ll keep looking 👀.
It certainly has been mentioned before and what a great film /trilogy / series it would be , would love to watch it. Could be another Post Office saga that brings to light all that is wrong with the AIMS market. Nice weekend all ,my bars open already.
Peter Kay to play Coggy
The late Wilfrid Brambell would have been perfect for tabs
Dave73 - I think it would have to be a film trilogy to be able to tell this story. It might be an idea for funding by selling the film rights, if field development is required before a possible sale. Perhaps Looed or JimSlade could pass on this idea, as it might be an avenue that hadn't been explored.
Thanks Looed. I wasn't particularly worried about SN transferring our shares as per my discussion with tsbs1, but it's still nice to remove any doubts.
It would be nice if ZM's shares weren't transferred, but I wouldn't want them given to SH/O. I still think SH/O have come to a CRS, hence the liquidated funds. I wouldn't rule out shares for the lawyers rather than SH/O, but we'll have to wait until everything unfolds.
Thank you Looed. Waiting patiently for a nice surprise. Very grateful for your work.
I think Z would have had his shares taken for gross misconduct and illegal activity's quite easily and legally in theory like a free buy back one would hope
I like this theory.... accidentally gave Zaza's holding to SH as part of the deal while transferring the register over. I have no idea if that is remotely feasible legally and would no doubt end in another law suit by big Z
Thanks for all your efforts Looed.
In times of crisis and uncertainty, “family” normally stick together. Let’s hope that’s the case here.
Would be nice to have a happy ending to this long saga.
Sterling effort really.
Very encouraging message.
Thanks to Looed and all the regular posters who have persisted in keeping this alive. I wonder where we would be now without you. Many thanks to you all.
Hi Looed,
Thank you such much for all your efforts here. I really appreciate your tenacity and perseverance keeping the lines of communication open. Fingers crossed!
Afterall this time, i would like it to come good for mapp. That would be the silver lining for the individual.
Good morning all
I hope everyone slept a bit easier; I certainly did.
So we will just wait now. Whilst we have reason to be optimistic, we should remember that we now have no rights or powers. We are completely at the behest of SN. He came across as honourable, especially in the televised court sessions with "Zee-eM", so fingers firmly crossed he does what is morally right and includes us all in the future of the business we have all put our hard-earned in to support, and since de-list have actually helped them significantly to get where they are now.
Many thanks Looed for all your efforts.
Each time we all think it's game over we are given another life. I have lost count how many times my hopes have been raised only to be shot down in flames. I'm crossing my fingers this time but mentally crossed this off as another company failure. Hopefully phoenix, ashes and all.
Thank you Looed. Shall keep an eye forever.
This share may one day come alive.
When I'll be 95. By that time shares trade not for fun.
Computers may be safe. Woke on trial has gone.
IHT has gone. Normality has won.