Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Press release today , for example - Wizz Financial, a global FinTech company specialising in cross-border payments, will be collaborating with the NPCI International Payments Ltd. (NIPL), the international arm of National Payments Corporation of India (NPCI), to create the first live digital payment platform, leveraging various platforms developed by NPCI, using open-source technologies. This is subject to regulatory approval.
Beyond speed and efficiency, Wizz Financial said the platform will be a very important tool for those who are unbanked as it helps them to create a digital footprint for users which enables access to credit and other financial services. The payment platform in the UAE is part of the company’s vision to create a government-to-consumer platform, whereby governments will be able to securely transfer money to citizens directly
Soooo. Here we go. It's an active company making deals. Making money , so where do we shareholders stand ???
Well, the story could be much worse that's something in itself.
Why do you say , nothing left for shareholders ?
The company still exists and is in the market doing deals, presumably making money post pandemic. LSE refuse to delist , is there still not an avenue wherby finablr plc get accounts organized , offer some new diluted share plan and LSE remove the suspension ?
Why did the auditor resign ?
Is that not an unusual situation ?
Finablr PLC ("Finablr" or the "Company")
Notification of Auditor Resignation
The Company announces that PKF Littlejohn LLP have resigned as the Company's auditor
The board is in discussion about appointing a new auditor and a further announcement will be made shortly.
END
Enquiries
Robert Miller
Chief Executive Officer
My point here is Finablr plc has to DO something.
The stock exchange are not going to wait forever, plus companies house are also on Finablr's back. The fine imposed is bound to focus minds on the board.
Finablr cannot have it's cake and eat it, so I feel like it's decision time. We still as shareholders may be asked to vote. Lets see , but if I'm asked to vote. It's a no.
My reading is FCA will fine finablr plc.
Finablr did not appeal.
So big question is what next ?
Shareholders get asked if FIN may delist ? Or finablr request the suspension removed if the comply with whatever they need to comply with.
These are just my thoughts. I'm not an expert
Having considered the facts of Finablr plc’s application and having regard to section 78A of the Financial Services and Markets Act and the relevant Listing Rules, the FCA is of the opinion that the application does not meet the conditions in the Listing Rules for cancelling the listing of its ordinary shares without a shareholder vote.
Finablr plc had the right to refer the matter to the Upper Tribunal.
As Finablr plc has not referred the matter to the Upper Tribunal, the FCA, in accordance with section 390(1) of the Financial Services and Markets Act, has issued a Final Notice to the firm.
We would all be having a very different discussion if the strike off went ahead, that's for sure. I can only assume that Finablr plc are cooperating in some meaningful way for the strike off to be suspended.
The compulsory strike-off action against Finablr has been suspended. This becomes clear from a document filed today with the Companies House.
Last week, Finablr said that it 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.
Finablr said back then it was in the process of resolving the queries raised by Companies House in relation to the striking off notice.
Earlier today, Finablr confirmed that its subsidiary Xpress Money has entered administration. The UK Financial Conduct Authority (FCA) has also confirmed that special administrators were appointed at Xpress.
https://www.newsofbahrain.com/business/78755.html
Finablr plc was rebranded right ?
The company conducting this transaction was finablr plc right ?
They enjoy the benefits of this transaction . Market share increase , more customers etc ...
So Where the heck do shareholders stand ? Prism bought for 1$ , all finablr plc. Including share cash from the original IPO ?
I'm a nobody, but clearly the company in which we invested is still out there doing deals ... Somone explain that to me please ?
This is the reply i got from companies house.
I just hope now that some other entity will object, there has to be more creditors who do not want to see Finablr PLC being dissolved.
We are unable to register your objection without documentary evidence to support your complaint.
Please provide evidence such as invoices, court documents, general correspondence or emails between you and the company, to show that you are actively pursuing them for an outstanding debt.
I'll repeat what I found in my research. Neither am I a lawyer .....
Any interested party can submit a formal objection to the impending compulsory Strike Off action. That could mean directors, shareholders or even company creditors who don’t want to see the company dissolved before they’ve been paid.
If companies house asks for proof (is that actually what they said?) Then just reply that you bought shares, invested in good faith and that you are a shareholder.
There must be plenty of institutional shareholders interested in keeping this going.
Any interested party can submit a formal objection to the impending compulsory Strike Off action. That could mean directors, shareholders or even company creditors who don’t want to see the company dissolved before they’ve been paid.
You can object to the dissolution in the following ways:
Email
enquiries@companieshouse.gov.uk
Post
Companies House England and Wales
Dissolution Section
Registrar of Companies for England and Wales
Companies House
Crown Way
Cardiff
CF14 3UZ
At minimum, please email companies house at the below address, and tell them you are a shareholder and that you object to Finablr PLC being disolved.
enquiries@companieshouse.gov.uk
Compulsory Strike Off Notices, announcing the intention of Companies House to fordibly remove a company from the register, is advertised for the benefits of creditors. Along with the notice, a letter is send to the company’s registered address. For a period of 2 months, anyone can object to the strike off – i.e. a creditor. At the end of this time the compay will be dissolved.
A Gazette notice will declare that the company will be struck off Companies House and cease to legally exist. ... In instances of compulsory strike off, this process is typically initiated by Companies House due to non-filing of accounts or annual confirmation statement.
Above from Google search .
I don't know, it could be a pressure move by companies house to get them to file accounts, or it could be companies house have timelines and their time is up. I'm going to send in an objection for what's it's worth . I'm thinking no company no shares =nothing. Agree ???
Any interested party can submit a formal objection to the impending compulsory Strike Off action. That could mean directors, shareholders or even company creditors who don't want to see the company dissolved before they've been paid.
Above info I found in google search . I think no harm in emailing companies house objecting . But this doesn't look like good news .
Hi, thanks for that. Can you verify exactly what the FCA said. Suspension and delisting are two different things. My understanding is Finablr plc recently applied to delist but that was rejected. The suspension happened years ago, but that occured due to fraud issues and potential inability to show valid accounts . Was it the FCA or the LSE you were in contact with ? Cheers
Well Bowlers12, as soon as they reply, let us know. There is no point *****ing on this forum, what we need are facts, information and details, wherever we can get them. If there is a shareholder vote I encourage anyone to keep an eye out for your proxy form, email , postal ballot, or however they do it. Check junk folders etc, and vote !!!