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Shard appointed the administrators and Shard can also remove them. Given they want their money and Icon have nothing then they are obviously expecting Mr. Ott to do something. But this must have been going on for weeks and Icon have done nothing. To think in November they received £750k plus £500k from Shard and at the end of December it was mostly gone.
It is now up to the administrator. They are in charge and normally (or used to) have around 8 weeks to produce a report. This is about one debt, I believe, so the board could enter into discussions. But why didn't they before?
It will be suspended in Monday. Intu was also suspended immediately there was a warning a few days before.
The only secured creditor is Shard. Maybe Brad just didn't understand how UK law works, he must have been warned many times. Oh well. Mr Ott will not be pleased. Anything now will take time, now we know while none of the directors bought shares.
Use fill or kill if it's small enough.
This is not aim so no speeding tickets.
The research company is wholly owned by Sting Industries Ltd. All normal.
Brian - companies have to start somewhere. Not many new companies hire so many people so quickly.
https://www.google.com/search?q=sting+industries+jobs&rlz=1C1CHBD_en-GBGB840GB840&sxsrf=ALeKk01FswOoxunMHpXqUw1R3r1teVhXIw:1620644024603&ei=uBCZYPn_IM6N1fAP8uanoAw&oq=sting+industries+jobs&gs_lcp=Cgdnd3Mtd2l6EAM6BwgjELADECc6BwgAEEcQsAM6BAgjECc6BQgAEMQCOgIIADoGCAAQFhAeOggIABAWEAoQHjoFCCEQoAFQtAlYsxdg1BloAXACeACAAWWIAdsDkgEDNS4xmAEAoAEBqgEHZ3dzLXdpesgBCsABAQ&sclient=gws-wiz&uact=5&ibp=htl;jobs&sa=X&ved=2ahUKEwiD7IC9-b7wAhV4aRUIHaeVC3wQudcGKAJ6BAgDECU#htivrt=jobs&htidocid=1wujJlRci4Zwb0CxAAAAAA%3D%3D&fpstate=tldetail
11-50 employers and have taken on some high paid positions lately. 70% owned by Mr. Ott and 30% Mr. Werner.
https://www.linkedin.com/search/results/people/?currentCompany=%5B%2272142731%22%5D&origin=COMPANY_PAGE_CANNED_SEARCH
Craig - the 5bn is in the agm notice. It is a very small amount and in the stock box interview this morning he says he won't just use it straight away.
Meanwhile Mr. Ott has set up Sting Industries in the UK. Not hanging about there.
STING Industries Limited is a dynamic tech start-up, developing exciting new Unmanned Aerial Systems and associated technologies in the Defence Industry.
Well situated in a rapidly expanding industry, our vision is to disrupt Defence by making it attractive to the best technical and ethical talents to work on the frontlines of the defence industry of tomorrow, with its world-leading INHIBITOR Drone Ecosystem based on Technology-First and Ethics-By-Design approaches.
Interesting new investment and a few familiar names reacting.
https://www.linkedin.com/feed/update/urn:li:activity:6791349411051057152/
https://www.ottproperties.eu/our-team/
A few familiar names including Iconic.
9 am.
They can't have any shares issued until after the prospectus and EGM.
Unload what? They have no shares currently.
The loan was to Greencastle MM LLP. At the time Greencastle Capital was said to be a 98% shareholder. However, companies house shows that on 31st March Sefton and his company Linton ceased to be significant holders of Greencastle MM LLP. And Greencastle Acquisition is now a significant holder. Now I can find nothing that say Greencastle Capital was a 98% owner directly. Maybe more research is required!
Point 2 - CB is not an Aussie. But despite that he's ok!
That's a copy of the 12th Jan rns.
Before you ask - the conversion option is no longer available.