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Only point of meeting is an update on search for Nomad
Meeting
Are u still going? Ivan is definitely going and Barry. Barry via video call if can't make it. Will be interesting to see what they say!
SMS In one of your previous posts you say you got out of this in time. Whats your thoughts now.
Update re general meeting Thu, 23rd Apr 2015 13:18 RNS Number : 1509L Insetco PLC 23 April 2015 Insetco PLC ("Insetco" or the "Company") Update re general meeting 23 April 2015 ? The Board of Insetco PLC (AIM: INC) announces that the resolution to validate the contracts of service and share options to be awarded to Ivan Couchman and Barry Heath has been withdrawn from the general meeting to be held tomorrow 24 April 2015 at 400pm. This resolution was the sole resolution to be proposed at the meeting. It is now intended that the service contracts will be validated at the next Annual General Meeting (which will convened following the publication of the Annual Report & Accounts for the year ended 31 December 2014). In line with the AIM Rules for Companies, the share options will be awarded, subject to approval of the Company's independent director and the Company's nominated adviser, at a point at which the Company is both out of the current close period and has appointed a replacement nominated adviser.
I assume it is still going ahead, all a bit unclear. I have contacted Ivan to see if he is attending, if he is going then so will I.
Is that general meeting going ahead still?
I agree that's it not quite game over - pretty close though! There needs to be positive news/info tomorrow and the prospect of a NOMAD before the deadline. Strange one this - some companies you have bad feelings about - this one I has caught me by surprise at this time - ah well ......
Just looked on the website and a general meeting is scheduled for tomorrow! It is on the left hand news section on 30th March. Maybe I had missed this before but this would seem to be the one that TW was on about. I have just spoken to my broker to take up my voting rights and will attend in person. If anyone else is able to attend (it's in Bedford) let me know
Guys, I have to say talk of gameover here is a little premature. The suspension is barely a week ago!!! therefore a little patience required imho. I will try and contact Jeffreys and see what information they have and to confirm if any EGM is set. Looking at the latest set of accounts 31 Dec 2013 most of the debt has been taken care of so they should have cash at the minute, therefore the only reason for a delisting will be if they can't appoint a NOMAD. That will take time, obviously something has gone on in the background to force Cairns to resign, we need to know what and why!! before speculating that it is Gameover!!
I've held aim shares on and off but being misled by a director is a new one for me. Ivan Couchman's record was what kept me in here - if the report is true that he is currently on holiday - words fail me.
Shareholders have lost everything here. Company silence tells us that. Ivan and Barry should be held accountable for definitely Imcompetent directors and therefore banned from being a director again. Maybe fraud if we find out more details shortly on what's happened
The only person who seems to have seen the EGM notice is TW. Can't say I'm inclined to ask him and open the company up to more ridicule.
He said next week when I texted him
Too right, I have tried to call them a number of times on this matter and no luck. If there was a problem with the relationship I doubt that it would have all been the fault of one side. However, we are the ones who potentially lose out.
As far as I am concerned Cairn are partially responsible for this predicament. If this does get delisted, then I will certainly be reluctant to get involved in anything that has Cairn as a broker. Once bitten etc....
The Company advises that Cairn Financial Advisers LLP, the Company's Nominated Adviser and Broker, has resigned with effect from 1st May 2015. The Company is in discussion with another Nominated Adviser. If a replacement Nominated Adviser is not appointed within one month of the date of Cairn ceasing to act, pursuant to Rule 1 of the Alternative Investment Market (AIM) Rules, admission of the Company's Securities to trading on AIM will be cancelled. You should be aware that if you have not sold or otherwise transferred your shares prior to the Cancellation of Listing you will not be able to sell or otherwise deal in them on the AIM after that time. Should you retain your holding of Insetco Plc, we will notify you on receipt of any further information from the Company. Should you wish to find more information about the Cancellation, please visit the Insetco Plc website, www.Insetco.com
I welcome the chance to have an EGM so everyone can air their views as sounding off on here, whilst it may make us feel better, achieves nothing. It also stops Ivan receiving numerous calls and deciding that responding to PIs is not worth the effort, which to his credit he is still doing. Chris Potts is still involved along with Windsor and possibly Lenigas between them they have experience running firms and I believe that they won't put up with this for much longer before trying to effect change. The firm has at least £300k in the bank post Windsor,which could be used to diversify away from the Canadian operation and build something new and is an opportunity that shouldn't be passed up. Yes I agree it is a shambles but, assuming we can get a nomad, there is cash and enough people with know how to make something of value to give me some optimism. For all those who have shares we have the ability to make ourselves heard, contact your brokers to take up your voting rights and lets put on a show of force at the EGM to let everyone know that we are not going to stand for more of the same and that we deserve better. The company secretary (Intenational Registrars Ltd) can be reached using the contact details for Jeffreys (http://www.jeffreyshenry.com/contact-us).
whens ivan the terrible back from holiday
What are your thoughts on all this?
My broker (Hargreaves) hasn't received anything to date. I left a message with the company secretary (part of Jeffreys) to give me a call today to discuss, will ket you know when I hear back. Anyone else checked with their broker?
Ivan wouldn't answer this. Does anyone have the circular? Miller time?
Hi nick, I would imagine someone out there would want our money, some really awful companies have managed to get a nomad without too much trouble. Hopefully it will be resolved when Ivan us back in the country
Hi newstate Did he say when the EGM is being held?
Isn't that the role of the nomad, oh wait .....