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NOTICE 01/12/2015 7:00am NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM.
tried ZAM??
on a long term view, perhaps arable land in sub-saharan africa, tho' it ain't as cheap as it used to be, & for sure ain't low risk.
atm probably have to accept small negative real return on savings...risk to capital extreme esp in AIM, but also property, bonds, ftse 100 or 350 ...i fancy euro @1.50-1.60 (cheap even now @1.42..but euro/usd parity v tempting for market with euro/usd bond yield gap so extreme and fed lift off imminent)...if you reckon fed may duck lift off in a few weeks time, euro bet now may reward ...not advice / amateur musing only ..gl
Wanted to express my sorrow for all those that lost money here. I've followed globo for a very long time but was lucky enough not to be invested at the time this went under. However I can't express enough my anger at what's happened here and the sheer deceit by the management of this company.... Complete criminals. I would like to hope they all end up behind bars but the sad reality is they probably won't... Money talks and we live in a world which is unfortunately governed by greed. Still... I hope karma has a way of giving those who are responsible what they deserve. Just hope people haven't been affected too badly by this and wish you all the best in your future endeavours.
They will no doubt wash their hands of any responsibility in the same way the auditors will. So to summarise where we are now in the so called booming economy of the UK, you can't invest in property anymore because George Osbourne has decided to tax it through the roof. You can't invest in AIM listed shares anymore because most of the companies listed turn out to be run by crooks that run rings round both the auditors and FCA (both of which it would appear were completely asleep on the job at the expense of innocent shareholders with regards to Globo). There is no return to be made from bank deposits anymore because the interest rates are practically zero. Any other ideas anyone on where we should all now be investing our hard earned money (what's left of it at least after the crooks have taken a chunk out of it)? I would be interested to know what George Osbourne's view is now as to where we should all be investing our money. Not only has he allowed what would appear to be poor regulation to creep in to the AIM despite allowing AIM listed shares to be included in ISAs, he has also contradicted himself by taxing buy to let properties beyond affordability shortly after allowing pensioners to invest their pots in property. In the mean time, wealthy foreign oligarchs will continue to push up prices in London without any real financial penalty whilst the rest of us UK residents are left scratching our heads as to why we are no longer able to build wealth anymore.
Standard Reply. I wonder what the FCA will report?
Received the following. Globo Plc – in administration (“the Company”) I write following your email below to my colleague, Lucinda Kemeny. I can understand the urgency of your request for information. Please understand that the Administrators and regulatory bodies have to follow a set procedure when investigating and gathering evidence in a case such as this. We are very early in the process and I’m afraid that much of the investigative work will be confidential due to the nature of the investigation and we do not wish to prejudice any potential future action. I can advise that reports will be issued by the Administrators as the case progresses, with the first report due in December, and that these will be available to shareholders at www.thecreditorgateway.co.uk (password: Globo). If you require anything further, please feel free to contact me on the details below. Yours sincerely For and on behalf of the Company Marcus Connew For Lisa Rickelton Joint Administrator FTI Consulting +44 20 3727 1859 GloboPlc@fticonsulting.com On 3 November 2015, Chad Griffin, Simon Kirkhope and Lisa Rickelton of FTI Consulting LLP, were appointed Joint Administrators of Globo Plc (“the Company”). The affairs, business and property of the Company are being managed by the Joint Administrators. The Joint Administrators act as agents of the Company only and contract without personal liability. The Joint Administrators are licenced in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales, under section 390(2)(a) of the Insolvency Act 1986.
I have dropped a email to FTI and my queries are being passed on. I will update if I hear back.
Mr Livingstone told Sky News: "We're all sick and tired of these Labour MPs undermining the leadership. Kevan Jones and other have got to stop doing that." ...i hope everyone can see that ken's (untenable imv) position is too sad/funny for (much further) comment
life of luxury more like it ...white collar crime (if that is what this is...innocent until proven) usually pays in my jaundiced view ...until the revolution (bring it on...but not Jezza pls)
My only potential consolation after investing in this company is that the criminals at the top will hopefully spend along time behind bars.
That's the lesson I've learnt from investing in this criminals paradise
I'm really sorry for PIs. Just like many others, I learnt my lesson through Afren. When it looks too good to be true, it is better to take shorter's views into consideration. This time I sold my shares before the news came out when I saw some tweets from WShak. When I saw the first RNS, I wasn't shocked but I lost my faith in AIM completely and GBO was my last AIM investment.
I'm so sorry you lost your dad and, like you say, it is all relative and this is only money. It is probably best just to put this down as a bad experience and move on with life. Stay positive and do not let this shower effect you, I really do wish you all the best and the rest of the PI's who lost out here.
Just read your message of yesterday.if any consolation i have lost a similar amount to yourself.i find it hard to even come on here now.i really do feel for everyone that has been duped here.greek twattts.i want to register with sharesoc but cant bring myself to check what my actual holding was...to put it into proper perspective my dad died on Monday so Aim/shares/costis mean fcuk to me at the minute.gla especially all the genuine unlucky p.i's
Yep, looks better on their CV if they resign rather than get pumped for being useless and incompetent. Also seen on twitter that IG are closing this out on Dec 1st @ 0p.
Id be happier if the administrators were firing all these board members and execs for negligence/fraud/being useless b@stards rather than them resigning. At least then they wouldn’t be receiving any payments… they are all painted with the same brush in my eyes.
Asburyjukes, I take your point. Lets all become Auditors, take £300,000 in fees, sign off and fly to Bahamas with Costis. where is he? If ever there is a case of Gross Negligence, this is it. Fictitious Sales, Capitalising Revenue expenses. Massive Debtors (over40% of sales) at year end and where is the cash? in an offshore account. somebody says the Registered Office was a semi detached house in Tonbridge so where were the Accounts kept. (probably Company secretary's house) Also FD not a finance man. How did he explain everything or were they fed oranges by Costis and what happened to other Directors who took Remuneration and watched over FA.
Only read a read rns,trade trade trade the hot hog ,
jollyspecs The first thing to remember re. audit was that ' Auditors do not take responsibility for the financial statements presented to them, on which they form an opinion' The responsibility for the financial statements presented to the auditors lies with the company being audited. This statement is always prominent in communications with the client and in the audit report. I understand it is still a requirement to ask this question of the management in writing before the start of audit. If certain senior directors conspire to manipulate the financial statements in a deliberate and systematic way it can be very difficult to detect, particularly if this has been the case from the early days of operation of a company. Change of auditors rarely brings misdemeanors to light as the outgoing and incoming auditors will usually meet to help the changeover and audit partners are usually ok with this as it helps in the initial new audit, and unless there is a particularly keen audit team leader or senior they will check and test the info they are given but not look at the statements forensically, unless it is something that comes to light through the presented financial statements. Hope this explains a little and I am not saying it is bang up to date as it is some time since I was involved in audit, as many accountants get out of it soon after qualifying to pursue more lucrative employment, hoping to be perhaps a Chief Financial Officer or the like eventually, if you get my drift. A case then of gamekeeper turned poacher, not that I think this could be the case in this instance of course. It's also worth remembering that very many CEO's are also qualified accountants, so know and understand the way it all works. Forget suing the auditors imo, worst case for them is usually a fine years down the line when all but a few will have forgotten this, because other similar cases will be happening all the time. Companies who change banks regularly often used to raise an eyebrow, but don't know if this is still the case.
I have steadily built a holding over the last 3 years and have lost all £10k which is a lot of money to me. I was duped like everyone else and if I ever see Costis, I will chin him! Not a very mature statement but if he tried to rob me of that amount face to face I would hurt him! Absolutely gutted and it will take years for me to save that amount. I have lost money before but never like this; as a result of lying, cheating,self interested crooks. Sue me if you want Costis but you really don't want to meet me! No offence meant to anyone on this board, hope all those who have lost here recover. All the best
Mr BB, your sentiments are shared. It seems everybody milks a company and Shareholders pay for it. I cant understand how all the ''experts'', you have highlighted continue to get away. Gennacord recommended HSS Hire at £2.15 and that share has tanked to below 60p. what in heavens name is going on?
Dont beat yourself up about not seeing "the signs".I bought & sold GBO shares but have been left with a large number as I believed - The Board Blue Chip clients The Auditors Cannacord ( restating a 90p even after the publication of The report) Institutional Investors Gartner Ovum. The detractors from GBO were a very small number of well known individual shorters/manipulators & a US ( maybe) hedge fund with just 4 employees We were all duped by a group of conmen & thieves & I would love them to be brought to justice-preferably in the US where they could get 30 years. The writing is usually on the wall for some time before a company is put out of its misery & its SP has usually slumped to being virtually valueless previously.That was not the case here & even on suspension Costis said that they refuted the allegations & a full report would follow.His & his co conspirators confession to the rest of the (useless) Board was made on the sat morning & GBO was gone in a puff of smoke within a few days. I hope that our Greek Associate are forced to pay the balance owed ,even though it will just further line the pockets of the Administrator who must be loving this case as a cash cow. Sold all AIM shares & buying lottery tickets instead !!
Speaking from experience of a previous plc company I used to work for, it is scandalous how little some Non Execs do or are willing to do for their fee. It is simply an old boys club for semi retired Executive types to turn up to a boozy lunch once a month on the company's premises to listen but not object to whatever the Executive Directors choose to tell them before they completely give up work and play golf full time. This is not a generalisation but an observation that not all Non Execs are worth the money they are being paid to protect shareholders interests. If shareholders truly get nothing out of this then so be it. However, I hope if anything the role of the Non Exec is beefed up and made more transparent to shareholders on terms of the value they are adding to the Board.