George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
So they can keep all the money they already took out before and not have to give shareholders anything as the company would be liquidated , so the only way is for shareholders to bring our own lawsuit before 2024 whole thee is still time as we have been defrau.ed
Hi it's quiet some time since I looked in on frr I did see before frr was delighted that the lease of the plot or land they were working on had a lease date of 2024 end date so I'm wondering if it's all been planned to keep stalling in the courts until 2024 then go in liquidation as the lease runs out , does anyone have any info on this ? Thanks
Hi I not been on Lse for a long time , has anyone heard if we can get share certificates as the company seems still afloat , also any news on relisring ? Can we get compensation from Ombudsman for company delisting ? It seemed the company got to the point of sending train loads of oil on trains then all went quiet , I wonder why ? Cheers
At moment the shares are still worth 0.00 has anything changed.
I vaguely remember a date in 2024 when the leases expire so won't be surprised if frr directors are playing for time to run off with the money. They might have got it in neck from investors and decided to wait till expiry of land lease sneaky pratts.
glad i sold these at 4p just shows you how shares get manipulated down and the crooked system to this level, good luck to you guys its a long way back , i might get back in at some point but enjoying watching at moment
the first thing i want if frr relists is a share certificate which i cannot get at moment , they better get a move on before the world goes green energy .
lets get our case in to sue before there is nothing left ?
we need amercan investors in frr to complain to us FSA then the bod has to answer.
as i have said for a long time this is a way of dragging it out TILL the leases runs out and then they can disappear with our funds . the only way is for american investors in frr who have lost money take frr to court for doing bad things to investors.
So to sum up FSHG replies , we need to get an american investor of FRR shares to complain to the american financial ombudsman counterpart to our financial ombudsman as FSHG team say FRR are registered in USA and dont have registration on UK indices etc , so uk ombudsman csnnot do anything or so is their view , but USA ombudsman can so we need an american investor of FRR to complain to the USA ombudsman and deal with it from there , SO I ASK IS THEIR ANY OR MANY USA INVESTORS THAT HAVE LOST THEIR MONEY WITH FRR AND WANT TO COMPLAIN ABOUT FRR AND THEIR DIRECTORS TO THE USA OMBUDSMAN TO TRY GET MONEY BACK ? ONCE YOU GET YOUR MONEY BACK POSSIBLY UK INVESTORS OF FRR CAN GET OUR MONEY BACK ? AND THE WAY THE COMPANY HAS DEALT WITH THINGS AND ANY SINISTER GOINGS ON WITH FRR.
I Also asked FSHG if it was ok to post their replies on here LSE and they said it was ok so these are their replies .
If you want to post the following is our collective view................................
Mole's last post on LSE summed up our view - and quite simply we do not believe there should at this point be a "next step".
We will continue our efforts to make contact with the company, and assuming that the company survives there will at some point be a need to engage with shareholders simply to agree core decisions on share capital. Clearly the company is technically still "alive", and FRC still exists, and our view remains that until there is a definitive outcome there is nothing more that we realistically can do. Our mandate was very specifically not to be an action group - and that is what shareholders responded to.
As stated if a group of shareholders set up an action group with a different mandate that is up to them.
For the record we have taken informal expert advice regarding options that are open to shareholders - and we believe that approaches to the UK authorities are unlikely to have any positive outcome. Even if they chose to pick up the issues the UK authorities simply have nothing to act against - no UK assets, no UK accounts, no UK director residence, no UK company office, no UK employees, no UK listing, no UK suppliers etc etc.
The reality is that this is a seriously challenged private company registered in the Cayman's, and with its HQ in the USA. The options are very limited - and it is our firm view that any action against the company is a) almost impossible to enact without extensive financial commitment and risk, b) given the company's financial health has a zero chance of success and c) is likely to be counter productive if by any chance some recovery plan is in place.
FSHG Team
Frontera Validation
Wed 25/11/2020 16:05
We do not have one single US investor in our midst - nor do we know of any US Investors apart from the directors
Regards
Here below are my replies from FSHG after writing to them to register my shares details in case FRR are taken off here ,
We assume you are bbnews on LSE
We only occasionally check this email account - so lucky to be able to reply quickly. Not sure who you bought shares with but we would have thought there was a record somewhere of the purchase - a nominee account perhaps? We are also intrigued by your holding of 1.75 million shares costing £10K. The FSHG team have all been in FRR for nearly 10 years now and we hold a very large number of shares. The highest price we can recall in this time was around 2p - so we assume you must have bought your shares before the AIM listing took place in circa 2012?
We do not hold a share register - our mandate (attached) was simply to set up as a communication vehicle with the company and we asked for evidence of holdings. Once received the evidence was deleted for DP reasons and we simply hold names, email addresses and share holding. In fact we specifically stated that we were NOT an action group - any group wishing to "take action" would have to get a new list of holders who supported this action - and of course who were prepared to fund it (making very significant contributions in our view).
We have repeatedly tried to contact directors. lawyers and advisers - but we have not received a single reply in nearly 2 years. Re further action we have taken informal advice from a variety of sources - but as neither the company nor it's directors are (or ever have been) registered in the UK any action would almost certainly have to be taken in the US/Caymans.
So as the company is technically still "alive", and FRC still exists, our view is that until there is a definitive outcome there is nothing that we realistically can do.
If a group of shareholders set up an action group with a different mandate that is up to them, but we believe that approaches to the UK authorities are completely irrelevant regarding gaining financial compensation. As an example the Financial Ombudsman has no jurisdiction on this type of issue - it deals with regulated FS organisations (the exception would be if you could prove you were advised to invest in this share by an authorised FS organisation - you might then be able to pursue the adviser). Action against the Nomad or the Auditors may be an option - but would be more about punitive action if negligence could be demonstrated. We know this would be very strongly contested. Any action designed to reimburse shareholders would almost certainly need to be pursued by hiring lawyers in the States - and working from there. UK authorities simply have nothing to act against even if they were inclined - no UK assets, no UK accounts, no UK director residence, no UK company office, no UK employees, no AIM listing etc etc.
And given the Company's track record on litigation, it's level of debt and it's default history any US action would probably have to be against the
And in a months time if FRR goes under then we might not get anything lets get that list together , also if FRR goes under then this bulletin board might get taken off then no chance to get any list , do it while we can
How have you got faith in a company where the BOD leading this shambolic company have never even bothered to reply to us shareholders , the saying goes SILENCE IS GOLDEN BUT MY EYES CANNOT SEE , very apt for these , its ok if you dont want to rainbow we will all do it without you but maybe you will still benefit , but if nothing is done then you wont get anywhere
First is to get a list and total of shares held by shareholders and also details of the case that we have been wrongley done by BOD , FRR etc been wrongly informed etc and then take all that to the financial ombudsman which will be free no charge to do and see if there is anything that can be done there , when the money is totalled up i bet there is millions of pounds lost by us investors so maybe they will do something about it ?
Hi guys and girls , i sent details of my shares that i have in FRR to the email address we were given sometime ago so hopefully collectively we can get some action going on getting our money back , i thought about the financial ombudsman ? maybe if we collectively put our case forward , about how our money and shares have disappeared and myself not even able to get a share certificate for them as well as thousands of others , but i have record of them at TD or ii investor , this BOD dont even respond or reply to our concerns and its about time we got some action going as the lease on the land in georgia wont last forever i think i saw a date of 2024 thats only 3 years away when the lease runs out FRR will have a perfect excuse so lets get something going and i bet as soon as we turn the heat up on these , we will get a reply quickly our first reply in years from FRR . THE EMAIL TO REGISTER your holding so they can be totalled up is fshgvalidation@gmail.com
Thanks jim i sent an email to the registering email address so hopefully something can be done collectively to get our money back
Hi
I said 6 months ago taking FRR to court as they have clearly run off , what i want to know is
where do i send my email to register how many shares i have that are worthless so whoever is recording them can total up the shares and get legal representation to a creditors petition through court and get an answer off these BOD ? there was an email address a couple of years ago that were keeping record does anyone have it ?
So How do i register with the shareholder group ? if there is action taken then i will have needed to register yes ?