Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It still says 407,462,717 shares in issue on the VAL website tonight - Last update being 9th April 2018. Perhaps someone at VAL will get round to adding on these 47,500,000 shares at 2p before the BOD decides they need another Placing of 95,500,000 at 1.25p in a few moths time!!
Please can someone put me straight and confirm how many shares are in issue? 09/04/18 The Val website says 407,462,717. 04/05/18 VAL has a Placing of 47,500,000. 11/05/18 Slater announces he has 18,500,00 which is 4.54% of 407,462,717. VAL says the 47,500,000 shares will be admitted on or around 14/05/18? Have these 47,500,000 been issued ? In which case Slater holds 4.1% of 454,962,717? If these 47,5000,000 have not been issued, will the price collapse back to 2.25/2.5p once these are in the market at 2p? Am I missing something? Cheers
I have just checked the FCA register. RF is not listed as an employee of Novum Securities Limited. RF's history says he ceased employment at BS on 09/03/18. There are 7 individuals listed on the FCA register.
Beaufort client recovery delayed by legacy tech 'issues' Analysis of the client books of the insolvent Beaufort Securities is being hampered by a number of �unresolved issues� related to company�s update of its back office last year, PwC has warned. The administrator of Beaufort Securities and sister business Beaufort Asset Clearing Services, which were shuttered in March after being charged with fraud by US prosecutors, said it was picking up where the prior management left off in ensuring client ownership was recorded. �Prior to the administrations, the companies had switched over to a new trading and client management platform, which went live in October 2017,' PwC said in a statement. �There were a number of unresolved issues following this transfer that impact the reliability of data currently held within the companies� systems. 'These unresolved issues impact approximately 40 stock lines. During the course of the administration, we have spent considerable amount of time ensuring that that the affected client accounts are identified and reviewed appropriately. �The impact of this migration was mitigated pre-administration by the companies putting into place a number of interim processes which, require further development for the purposes of the return of client portfolios.� The company published the insolvency papers, which are dated to late April, after campaign group the ShareSoc described PwC�s estimated �100 million total bill for administration services as �incredible�, accusing it of offering �no justification� for either the cost, or a four-year wind-down. Separately, the business was still working to reconcile an apparent difference of 150 individual stock lines held by external custodians and those recorded on Beaufort�s internal documents. It had also been necessary to suspend the previous client portal and construct a new hub for future claims. A deadline of 8 June has been set for clients to file claims on the business. .................................................................................................................. It would be interesting to see if Novum took on any ex-staff of Beaufort who are adopting the same Beaufort practices? If so, I'm sure the relevant compliance team did their due diligence checks and will ensure any such dealings in VAL (and any other companies) are always above board. Novum will not want to be staring in "Beaufort The Sequel"