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HL 18th May
Finablr Plc - Administration
Hargreaves Lansdown Fund & Share Account
Finablr Plc shares were suspended from trading on the London Stock Exchange on 16 March 2020 due to concerns over its financial position.
The company has now entered into administration. This means that the administrators, PKF GM, will take over the running of the company.
Trading in the shares of the company will continue to be suspended.
We’ll contact you again when we have more information for you. If you have any questions, please contact us.
Yours sincerely,
Suzanne Butler
Corporate Actions
Its shocking, they said sold for $1 in the interests of the shareholder lol.
Basicly asset stripped without a shareholder vote and why arnt these crooks in jail!
Its ridiculous, PKF passing the business around i ternally too.
PKF lightjohn out and PKF GM in. Audit to insolvency
https://en.m.wikipedia.org/wiki/PKF_International
I’m thinking that in simple terms, Finablr was sold to Wizz for $1 then rebranded. So Finablr are now Wizz Financial.
Meaning they should rename Fin to WFS and unsuspend them, they could do a capital raise on reopen and get it back to where it is.
But then I am a little bit of a dreamer
This comes back yo life it will be the beat share you have ever brought
As I understand it the strike off notice was cancelled after the board contacted Companies house, further docs to be shared.
In addition the FCA has rejected a request to delist the stock because it requires a shareholder vote to do so. Probably with that is Shetty the ****ty owns 65% of the company; so pay him off and they get the vote through.
Mega bags of corruption and I really dont know whats taking the FCA so long; probably to busy stitching Amigo loans up tbh.
One thing I want to know is why EY haven't been brought to account, they did clear/cook Finablr’s books for 3 years!
shareholder and regulatory approval. My arse
RNS Number : 2111B
Finablr PLC
06 October 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.
6 October 2020
Finablr PLC ("Finablr")
Offer for Finablr Limited
Finablr PLC is pleased to announce that it has received an offer from Prism Advance Solutions Limited ("Prism") for the purchase of 100% of the share capital of Finablr Limited and its subsidiaries ("Target"). After due consideration the Board has approved the offer and the Company will proceed to negotiate a share purchase agreement with Prism documenting the terms of the transaction and seek shareholder and regulatory approval.
Prism's offer has three key elements that will see this transaction successfully completed within four weeks subject to all legal approvals being obtained: a) restructuring and settlement of the debts of the Target and its subsidiaries; b) provision of working capital for the Target and its subsidiaries; and c) Prism restructuring the board of the Target and its subsidiaries.
Statement from Guy Rothschild, Co-Founder and Director, Prism Advance Solutions:
"We are delighted with the Finablr deal, representing as it is the first major UAE-Israeli commercial transaction. We are very thankful to the UAE leadership and authorities who have been incredibly supportive of us. We look forward to working closely with them in the revival of the Company. We acknowledge that it's going to be a challenging journey and that there would be difficulties along the way, but we are confident that with the support from all parties involved we will realize Finablr's full potential. Finablr offers a huge opportunity in the digital payments space across multiple emerging markets and its assets and proprietary technology positions it for further global growth."
Statement from Bhairav Trivedi, Group Chief Executive Officer, Finablr PLC:
"After months of hard work under very trying liquidity conditions compounded by the impact of the Coronavirus on our operations, I am excited to now go forward with Prism. My management team has done a stellar job of focusing on our operations whilst seeking a holistic solution for the Group. Our employees have worked at reduced or zero pay for some months and this deal is only possible thanks to their hard work and sacrifice. We now enter a new chapter in the Company's history. We thank all our clients, regulators, creditors, advisors, and vendors who stood by us during these trying times. We are honoured to be involved in this game-changing transaction in the Middle East."
Statement from Michael Tomalin, Non-Executive Chairman, Finablr PLC:
"The deal with Prism offers the optimal solution for Finablr. I want to thank the Board, Bhairav and his management team, our employees, regulators, creditors and advisors for their hard work and support in these past months."
Statement from H.E. Abubaker
States here a shareholder vote will be required if a sale takes place, that never happened.
The only hope I have is Wizz is now one of the biggest cross boarder remittances houses in the world and will want to be on the stock market in order to obtain additional funding via placings etc.
Yes this will dilute or investments but they should want to be floated as part of the winder picture.
As such we may not get any money back feom wrong doings but we may well get a unsuspended investment at some point.
Why the hell arnt EY being halled over the coals, Amigo loans have paid hell for trying to right there wrongs, all FCA driven too
Its not a short term loan OofyProf, its a rebranding, meaning Fin should become released from suspension and trade as Wizz financial or if Wizz is listed we should be given Wizz shares for our sins
https://www.reuters.com/business/finance/finablr-re-branded-wizzfinancial-merged-into-leading-payments-group-2021-08-03/
FCA should be forcing some action and shareholders should be informed by Miller if were ****ed and have done with it.
As I understand it Prism and Wizz are not
currently listed on the stock market and I didn’t beleive finablr bas been liquidated, just sold
For $1 without a shareholder vote.
Finablr is still listed and the FCA obviously beleive the shareholders have a say because it cant be delisted without vote.
For a FTSE 100 company not to keep a shareholder abreast of the situation is shocking tbh, the FCA should hold there head in shame; maybe they’ve used all of there resouce chasing Amigo ffs
The way I see this now:
FCA wont allow them to delist without a shareholder vote, so keeping companies house alive is either to prove that Finablr is a current company and stay’s suspended forever.
Or
use the situation to reissue the shares in Wizz name and do a capital raise and get some coin in.
Or
The other option being a strike off would prove the company has been transferred to Wizz and they will be forced to lift the suspension and trade under Wizz.
either way they may have ****ed up and we would be back in business!
Have to release the suspension under either entity
I read it that way, maybe just saying that to give the impression they care but I’m hoping they can provide the relevant information to get it active.
FCA didnt want to delist the shares so maybe they see the shares as a funding op now and need to keep companies house active until they decide how to milk the market.
Either way, I’ve seeing life in the old dog yet lol
Tue, 8th Feb 2022 16:07
RNS Number : 0698B
Finablr PLC
08 February 2022
08 February 2022
Finablr PLC ("Finablr" or the "Company")
Finablr PLC (the "Company") has received notice from the Registrar of Companies on 11 January 2022 that, unless cause is shown to the contrary within 2 months of the date of the notice, the Company will be struck off the register and dissolved. The Company is currently in the process of resolving the queries raised by Companies House in relation to the striking off notice and will release further updates in due course.
With EY auditing the accounts you would think its a safe bet, ftse, FCA and all.
EY ****ed up on wirecard as well, not sure how they get away with it either! Should be a Hefty fine if anything.
That didnt work.
Try this link, its the top PDF:
https://find-and-update.company-information.service.gov.uk/company/11485051/filing-history
According to this its 2 months from 11/01/2022, so wont go until 22/03/2022.
I wonder if they own any property.
https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/rp_vIwxEbb3SAYZxmCLnO1RAkBykuXV9zBTZzsPAmrM/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3JKRJIIG7%2F20220124%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20220124T232534Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEFMaCWV1LXdlc3QtMiJHMEUCID927UJea3pJuW7w4KhhBkb2CEuQyTAv5n5Rdi3mbjoTAiEAnkPjXAUvQjOxcXTT1zJByU1oFNQ%2Fd4uJn8VGiVRFAfEq%2BgMIfBAEGgw0NDkyMjkwMzI4MjIiDJwd1wB8IZlc3nQeJirXA9bE%2BZ2u7XqYaKn04UYRG%2B%2FiDyPkkOQ6sQEIL%2FlbyVFtMJwxX%2B76hqUABNbRHcbLKeGkyk%2F9XFc4zB7D4UT9sb%2BvgAqf36yRjMOzSOuOJTaYFTg5iQOZvWe8yFnJOBmhhtWANy9asc7pigOByKOwRW%2B9gM4wR4HsOTc8BHzEVLXBrJkv4NqGs7yiZ14OqvJUyOW91tWUKrw799F3Wi5tIKdxtPXQvlPkwQfYNZavF40rVXaC4LwdaCMzuOcL8AIK6d9xu74Cxoh4HVZF8VivHh2qmZEE9CFmpRhG71FRXeyO5jxNS3ru2hDSAeBpEcBYRYipo6X18uRl9qnPLL2NTNlSoX6RWP%2FVuG7fXXmwfU2ro65jqJ9lwHVKPunkQ%2BTYyXkVAmrjCD3Vu980SUh5qhetLGU%2FAd4cq2BZLF****GJX7w5ulI2Q9NVXk8vJ8qw3aOJGauHoEnQsGzDSEgE5ecvBv3S6zE6N9KqbzuvNHijglX%2BDwHXlU%2Fm%2B2CEdwJLXhbEnkEe0UHx1aRrO9E%2FW%2FrlQ9hVCvJm%2Bbo%2BkQoTxTlgNIECIdfySQx8bN4Wvj%2F%2Fuc%2FMJrgtxXvD1PJu34f9pA4xic10sBCDUV0qPnHIGvcozUP%2BWKp4TDD03ruPBjqlAfktRaDJQsV8yFZ0y9ugZXGkBY73ADrExi7KgPrccxGt7kq669Bp2U5TR6Z5TM%2FEgbXXyoq4GsK1mBuXqSiXZsqXXrkzeilchYnGijZ%2FvR%2FdRxNAqrI1bMXsuHKgjMLKFPr4ajUoanrH8HeqH%2B5h2%2BjVkAWv3N%2FLhAnP70Uzi9Fk7p29xhiodaHxYIhQHfjC6uF6yk0GSmRHvP6VEn%2B7f6wfg%2FOe4g%3D%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&X-Amz-Signature=a29b545fc614affe3eec6868c1a6913ae2f2ae1c9cae35a918184de6e5041403
bona vacantia
(in the UK) goods without an apparent owner, such as treasure trove or the estate of a person dying intestate and without heirs, to which the Crown may have right.
Getting my years mixed up, sorry peeps; what a doughnut