RE: My understanding12 Mar 2022 11:01
I don’t intend to give in easily, so I’ve sent a message to the BVI Financial Services Commission, as follows:
Hi,
I am trying to get information from a BVI registered company called Consolidated Growth Holdings.
They delisted from the UK investment market (AIM) in October 2016. In their closing statement they stated that they would “continue to keep shareholders updated of news and hold annual general meetings as required by law” I assume they meant BVI laws.
Unfortunately they have failed abysmally to keep to this promise.
On the 25th February 2022 they held an extraordinary general meeting. But they published the details of this meeting on an obscure entity called Dropbox, not an avenue well know to the general public.
The main tenet of the EGM was to change a company rule, that limits shareholders ability to claim dividends to twelve months, and allow the company to confiscate any unclaimed dividends.
The company have so far failed to publish the results of the EGM, and are ignoring all attempts of communication by shareholders emails.
Nor are they updating shareholders, who have completed, and submitted their website tick box for “company news”.
Unfortunately I am not familiar with BVI regulations, so are you able to bring any pressure to bear on this company to do the right thing, and publish (on an easily accessible platform) the results of this meeting?
Otherwise if shareholders are not made aware of the passing of this rule, and through the company’s refusal to correspond, could lose by default, their rights to any or all dividends.
Any assistance you could give would be greatly appreciated.
Regards.
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