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Sounds like a risky can of worms.
Ultimate owner - THE RT HON VISCOUNT GARRETGRAHAM WELLESLEY who owns:
WELLESLEY GROUP INVESTORS LIMITED owns CLOVERLEAF 375 LIMITED*
WELLESLEY GROUP INVESTORS LIMITED owns WELLESLEY GROUP LIMITED which owns WELLESLEY FINANCE LIMITED**
So a transfer of shares from CLOVERLEAF 375 LIMITED* to WELLESLEY FINANCE LIMITED**
It is WELLESLEY FINANCE LIMITED** which is started the CVA.
Ultimate owner - THE RT HON VISCOUNT GARRETGRAHAM WELLESLEY who owns:
WELLESLEY GROUP INVESTORS LIMITED
It looks as though Cloverleaf 375 Ltd have transferred ownership of their 19.99% holding of TIME to Wellesley Finance Ltd. Wellesley Finance Ltd started a company voluntary arrangement in November 2020 and I'm not too sure why Cloverleaf would transfer shares to Wellesley. There is a common link in that Garret Wellesley is both a director of Wellesley and Cloverleaf.
Will Wellesley start to sell the TIME shares as they are now an asset in order to meet their liabilities? Could put pressure on the share price if this is the case.
you'd expect a retrace from here
#buyingthedips
Two good days in a row for TIME.
Much better to phone to trade ad broker can negotiate with jobber you will get a finer price
tp 30p++ (still way below Net Assets)
imv, dyor etc etc
I've not been fully out of opm/time for years
Non jolly speculator does that mean you bought in above your target of 10p ?
tp: small premium to TNW 30p++
anyone know as to why i cant trade this share with IG online, just says phone to trade? is it due to the swop over of names? gla.
Time Finance doing a webinar tomorrow on Investor meet company.
I'm sure they could if they could be bothered.
However, looks like they are not bothered.
I wonder if LSE can disassociate the chat from the previous company from what is now TIME Finance (ex 1PM)..
Looking at the trading update it was generally good news, but the share price is heading South.
The 5% free shares options for the management did not help, but the medium-long term should still reward the patient hopefully.
anyone heard anything on this? i know it can take ages for any form of payout, thats if we even get one!
Further to our previous communication on 2nd June 2010, Timestrip PLC has cancelled the admission to trading of its Ordinary shares on the Alternative Investment Market (AIM). The Cancellation became effective on 2nd July 2010. The Company terminated its Nominated Advisor and broker agreement on 1st June 2010 following shareholder approval of the Members' Voluntary Liquidation. The Cancellation is therefore a result of the Company's failure to appoint a replacement Nominated Advisor (NomAd) within a month of the resignation of their former NomAd, which became effective on 1st June 2010, in accordance with the AIM Rules for Companies. You should be aware that following the cancellation of listing you are no longer able to sell or otherwise trade your Timestrip PLC shares on AIM. Should you wish to find more information about the Cancellation, please visit the Timestrip PLC website, www.timestrip.com. Didn't we know that already? What does this mean ... just bend over a take it?
I think the whole thing has folded and I am sure it was voted down to move it into another company 'Mungo' which means we get NOTHING back! This is my 3rd company in the portfolio to go off into the sunset!!!!!
Not to sure but does this mean we get nothing or we get 0.02p a share.
RNS Number : 8757M Timestrip PLC 01 June 2010  1 June 2010 Timestrip PLC ('Timestrip' or 'the Company') Results of General Meeting Members' Voluntary Liquidation General Meeting - Results The board of Timestrip plc announces the results of the General Meeting held at 10:00 on 1 June 2010. Full details of the resolutions are set out on page 16 of the circular issued by the Company dated 5 May 2010 ('the Circular'), which is available from the Company's website www.timestrip.com. Resolution 1, a resolution to approve the disposal of Timestrip UK Limited and Timestrip Technical Services Limited was passed by shareholders. Resolution 2, a resolution to approve an investment policy was not passed by shareholders, consequently, as Resolutions 3 and Resolution 4 were conditional on Resolution 2 being passed Resolution 3 and Resolution 4 were withdrawn and shareholders were then asked to consider the 'Alternative Resolutions' numbered 5,6,7 and 8 relating to a members' voluntary liquidation of the Company. The Alternative Resolutions were duly passed. The proxy results are set out in the table below:- Resolution Votes in favour Votes at discretion of Chairman Votes against 1. Approval of the disposal of Timestrip UK Limited and Timestrip Technical Services Limited 94,771,283 (99.0%) 572,261 (0.6%) 372,694 (0.4%) 2. Approval of Investment Policy 9,093,959 (9.5%) 2,445,831 (2.5%) 84,144,448 (88.0%) 3. Withdrawn 4. Withdrawn 5. Company be wound up voluntarily 87,420,857 (94.2%) 2,894,288 (3.1%) 2,514,548 (2.7%) 6. Brian Johnson and David Birne of Fisher Partners be appointed Joint Liquidators of the Company 87,745,087 (94.6%) 2,943,288 (3.2%) 2,062,368 (2.2%) 7. Fixing of Liquidators' remuneration 87,231,907 (94.1%) 2,944,288 (3.1%) 2,572,048 (2.8%) 8. Liquidators be authorised to distribute the assets of Company among its members 87,296,907 (94.0%) 2,944,288 (3.2%) 2,588,548 (2.8%) Members' Voluntary Liquidation Brian Johnson and David Birne of Fisher Partners, Acre House, 11-15 William Road, London NW1 3ER have been appointed Joint Liquidators of the Company for the purposes of the voluntary winding up. Contact details of Fisher Partners are set out at the end of this notification. Board Changes Paul Freedman, Reuben Isbitsky and Graham Platts have each resigned as directors of the Company with immediate effect. Jonathan Steinberg, Non-executive Director remains the sole director of the Company. Termination of Nominated Adviser and Broker Agreement The Company has terminated its Nominated Adviser and Broker agreement with Cairn Financial Advisers with immediate effect. Consequently, pursuant to AIM Rule 1, in the absences of another Nominated Adviser being appointed by 1 July 2010 the admission of the Company's shares will be cancelled from AIM. The full text of the circular is available on the Company's website
RNS Number : 6894M Timestrip PLC 28 May 2010  28 May 2010 Timestrip PLC ('Timestrip' or 'the Company') Update In the event that the proposals to, inter alia, dispose of the trading subsidiaries and adopt an investment policy for the Company are approved by shareholders at the general meeting of the Company to be held on 1 June 2010 the Company announces that it intends to change its accounting reference date from 31 December to 30 June consequently, the Company's next results to be notified to the market would be the audited accounts for the 18 months to 30 June 2010, which the board anticipate would be released by the end of July 2010. The Company's shares would remain suspended from trading on AIM until such time as the audited accounts for the 18 months to 30 June 2010 have been posted to shareholders. As announced on 6 May 2010 the Company convened a general meeting on 1 June 2010 setting out proposals to:- (1) Dispose of its trading subsidiaries for up to £225,000 comprising the initial consideration of £160,000 in cash and deferred consideration of up to £65,000 ('the Disposal'). Pirtsemit Limited the proposed acquirer is a company in which the directors, with the exception of Jonathan Steinberg, have an interest. The Disposal is classified as:- - a related party transaction pursuant to AIM Rule 13; - substantial property transaction pursuant to section 190 of the Companies Act; and - a fundamental change of business for the purpose of AIM Rule 15. Related Party Transaction The Disposal to Pirtemit, a company in which the directors, with the exception of Jonathan Steinberg, have an interest, constitutes a related party transaction for the purposes of AIM Rule 13. Where a company whose shares are listed on AIM enters into a related party transaction, Aim Rule 13 requires the directors (with the exception of any director who is involved in the transaction as a related party) to consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. Jonathan Steinberg, the independent director, having consulted with the Company's nominated adviser, that the terms of the related party transaction with Pirtsemit are fair and reasonable insofar as shareholders are concerned. (2) Adopt an investment policy and be classified as an Investing Company pursuant to the AIM rules. Details of the investment policy are set out below; (3) Change the Company's name to Mungo Trading plc; and (4) Appoint Mark Nelson-Smith to the Board of the Company. In the event that the Disposal resolution is approved but the Investment Policy resolution is not approved by shareholders, the board is proposing that alternative resolutions are approved whic
has anyone heard anything yey? wish we had a fly on the wall.
RNS Number : 6894M Timestrip PLC 28 May 2010  28 May 2010 Timestrip PLC ('Timestrip' or 'the Company') Update In the event that the proposals to, inter alia, dispose of the trading subsidiaries and adopt an investment policy for the Company are approved by shareholders at the general meeting of the Company to be held on 1 June 2010 the Company announces that it intends to change its accounting reference date from 31 December to 30 June consequently, the Company's next results to be notified to the market would be the audited accounts for the 18 months to 30 June 2010, which the board anticipate would be released by the end of July 2010. The Company's shares would remain suspended from trading on AIM until such time as the audited accounts for the 18 months to 30 June 2010 have been posted to shareholders. As announced on 6 May 2010 the Company convened a general meeting on 1 June 2010 setting out proposals to:- (1) Dispose of its trading subsidiaries for up to £225,000 comprising the initial consideration of £160,000 in cash and deferred consideration of up to £65,000 ('the Disposal'). Pirtsemit Limited the proposed acquirer is a company in which the directors, with the exception of Jonathan Steinberg, have an interest. The Disposal is classified as:- - a related party transaction pursuant to AIM Rule 13; - substantial property transaction pursuant to section 190 of the Companies Act; and - a fundamental change of business for the purpose of AIM Rule 15. Related Party Transaction The Disposal to Pirtemit, a company in which the directors, with the exception of Jonathan Steinberg, have an interest, constitutes a related party transaction for the purposes of AIM Rule 13. Where a company whose shares are listed on AIM enters into a related party transaction, Aim Rule 13 requires the directors (with the exception of any director who is involved in the transaction as a related party) to consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. Jonathan Steinberg, the independent director, having consulted with the Company's nominated adviser, that the terms of the related party transaction with Pirtsemit are fair and reasonable insofar as shareholders are concerned. (2) Adopt an investment policy and be classified as an Investing Company pursuant to the AIM rules. Details of the investment policy are set out below; (3) Change the Company's name to Mungo Trading plc; and (4) Appoint Mark Nelson-Smith to the Board of the Company. In the event that the Disposal resolution is approved but the Investment Policy resolution is not approved by shareholders, the board is proposing that alternative resolutions are approved whic
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