Question wrt 'Group Structure' ???22 Jan 2019 14:57
Hi. Just found this site after resaerching AEG more, as bought in last year and wanting to understand company structure etc better.
I've sent a question to AEG via their website which is receiving no response, even though part of their Corporate Governance is to listen and response to all shareholders.
I reviewed AEG on Companies House website
https://beta.companieshouse.gov.uk/company/03148295 AEG
Click on the People tab then you can click on each of the Directors names and see all the companies they are or have been involved with (Mr Rowan has been with 2 dissolved companies).
What 'concerns' me is that AEG ONLY announced the Group as containing ADVANCED BIOMASS SOLUTIONS PLC (10619802) as part of the group [ABS].
But looking further you will note that Mr Rowan ALSO became Director of the following companies on the same day as joining AEG:-
AEG TRADING LIMITED (08887040) will call it [AEGT]
AEG PELLETING LIMITED (08959138) will call it AEGP]
Both these two companies as well as AEG and [ABS] are all registered at 27-28, Eastcastle Street, London, W1W 8DH.
However, AEGT & AEGP don't appear to be mentioned or listed as part of AEG nor can I find any past historical news where AEG mentions them at all. They are unlisted companies.
My concern here is WHY would you need to set up a company to potentially "TRADE" on behalf of AEG and why would you set up a company to potentially act as a "SELLING OUTLET" of pellets on behalf of AEG.
My biggest concern is that these are so-called "Conduit" companies that allow AEG to effectively trade through as intermediaries. Funds run through them and the Directors take remuneration from them AS WELL AS AEG!!!!
There is still no response from AEG and I wonder if anyone is in direct contact with them and could request a formal statement on these companies.
It is clear that something is blatantly going on with these companies and any info would be useful to calm my concerns please.
Maybe a question to be raised at a 'Future' AGM?
If they are intermediaries then why aren't we shareholders aware of them and gaining from any profits (if any in the future?
In essence they could be used to reduce funding of future Dividends to AEG Shareholders - lets face it, if AEGT & AEGP are making profits and sifting off a lot of it to pay their Directors Remuneration & Dividends then its effectively taking money from us.
Using subsidiary companies like this is just another way for Directors to make lucrative profits at expense of Shareholders. Each subsidiary in the chain is slicing off profit/investment.
P.S. Other Directors of AEG ALSO became Directors of AEGT & AEGP on the same day as they joined AEG. So there is a CLEAR, UNAMBIGOUS real connection between all these companies.