Member Info for Bigun2

Nothing from Halifax or IG. Whom is your broker?

Apologies - this is very old. Strand Hanson use to be FRC's NOMAD

https://fronteraresources.com/2010-annual-results-operations-update/

https://strandhanson.co.uk/?s=frontera+resources

Bonus depends on what is stated in the Memorandum an Articles (ore Cayman Company law?). For this Cayman company (See link below) the bonus/divs to the directors are set to no more than 2% of the profits ( and 10% to the Employees)

http://www.ventec-group.com/media/1997/15-memorandum-of-association.pdf (PAGE 38)

Director's Bonus (UK limited Company Rules - There is no Corporation Tax in the Caymans)

A Director may receive a bonus from the company in addition to salary, but there are conditions with regard to the tax treatment.

The basis of the bonus, and calculation, should be documented and minuted.

A bonus which is decided and paid during a company's accounting year, for that current accounting year, is usually problem-free in terms of tax regulations, but subject to the usual rates of tax.

A bonus which is decided and paid after a company's accounting year has ended, but relates to that prior year, is subject to several tax regulations.

The bonus can only be accrued in the company's previous accounting year, and be allowable for Corporation Tax in that prior year, if it was agreed and documented during that previous accounting year. Alternatively, if it would be allowable if it was a regular event every year, ie 'custom and practice'. The accounting treatment is to credit to accruals, not the Director's Loan Account.

A bonus is regarded as being paid when either a specific payment is made to the Director, or the Director's Loan Account is credited. This date is the relevant date for the bonus to be submitted on the monthly PAYE/RTI.

You mean you don't take 2 months off in Summer? You are hard done to Tsbs... :-)

If there is a deal to be signed then it will possibly be completed by tomorrow before people start going on their holidays else more likely mid to end of Sept when everybody is back IMO

HMRC quoted regulations to me which means all delisted shares out of ISA's after 30 days and into Ordinary Share account. If relist then 20k max can go back in. They would not discuss individual brokers interpretation of the regs. Discussed procedure to challenge the regs, they suggested lobbying my MP. They suggested the court route would not be an option....

....however Halifax have offered, on FRR relisting, to apply to the HMRC on my behalf to ask for all my shares to be transferred back into my ISA

Crude Trader

When did IG tell you that?. IG have just informed me that currently there is no change to their position on FRR

Some news must be about to break with all these rampers out today...

:-)

Obviously you have access, care to copy the relevant parts on to this board? Thanks in advance.

""SN and ZM are no longer directors of FRI, the company which holds block 12, but Hope is."

Where exactly does all this come from. Tlme, dates, docs, doc pages, paragraphs nos would be helpful. Just trying to find out what is actual fact as opposed to what seems to be a lot of supposition

Again garytrader please cut and paste these facts from the docs on to this board.

Again garytrader please copy and paste relevant parts of doc on to this board

except ZZ and SN are still on the FRR board, the group company as I understand it

evidence of timescales of events would be nice ie the exact GMT time and date Hope resigned, and the exact GMT time and date transferal of the asset to the subsidiary company

but not when the asset was transferred to another subsidiary company

Hope was on board when which transaction was approved, the mortgage agreement or the asset transfer to a subsidiary company?

garytrader - Can you upload that part onto this board (in full context of course) onto this board please

MP - You must despair after presenting such positive plausible arguments to this board only for further negativity to pursue. For what it's worth IMHO Hope has been absolutely slam dunked. He may not know it yet as he he gets his team to look at all the legalities...but whichever he pursues it's going to cost him time and money (and lots of it) with a low probability of winning much of it back.