Guest Dutchy Posted March 29, 2012 Share Posted March 29, 2012 The unluckiest millionaire in the world! I thought he was a billionaire? He may sue you. lol 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted April 3, 2012 Share Posted April 3, 2012 I wonder if Whyte got that cash out before this company Pritchard went tits up. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted April 3, 2012 Share Posted April 3, 2012 Just get more and more bizarre. Merchant says share suspension due to â??admin errorâ?? Error regarding an announcement led to suspension of Merchant House Group shares, according to company. The suspension of Merchant House Group shares on the London Stock Exchangeâ??s Alternative Investment Market last Thursday (29 March) came following an â??administrative errorâ?, the company has told FTAdviser. Last week, Merchant House posted an announcement on the London Stock Exchange saying trading of its securities was frozen pending an announcement. A spokesperson for the holding company said: â??An administrative error occurred regarding an announcement, which has been corrected. â??An announcement will need to be made after which the directors anticipate the shares will be readmitted for trading within the shortest possible time frame.â? At time of writing, Merchant House Group shares remained suspended. Earlier this month (9 March 2012), Merchant House structured products subsidiary Merchant Capital revealed it had pulled 98 per cent of client funds out of Pritchard Stockbrokers shortly before the brokerâ??s collapse. Merchant Capital added that, at the time, two per cent of client monies - about £6m - remained frozen at Pritchard. This included money from matured policies which has not yet been claimed and money paid by clients to Pritchard which had not yet been invested, the company added. The collapse of the broker followed a supervisory notice that was issued by the FSA which prohibited Pritchard from carrying on any of the regulated activities except to close transactions that had already commenced. The notice concerned alleged breaches in relation to client asset handling at the firm, including use of client funds in its own accounts. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted April 3, 2012 Share Posted April 3, 2012 This has now left Planet Bizarre and is heading to another universe! RNS Number : 6990AMerchant House Group PLC 03 April 2012 3 April 2012 Merchant House Group plc ("MHG" or the "Company") Re: Suspension Trading in MHG's shares was temporarily suspended at 10:30 a.m. on 29 March 2012 ("Suspension"). The board of MHG provides details as to the background to and reasons for the Suspension. On 28 March 2012, the board became aware that, between October 2011 and December 2011, 652,333,333 ordinary shares in the Company, representing 14.1 per cent. of the Company's enlarged issued share capital, had been issued without having been announced or admitted to trading on AIM and therefore requested the Suspension pending the outcome of an investigation by the board. On 27 September 2011, a total of 652,333,333 new ordinary shares of 0.01 pence each in MHG (the "New Ordinary Shares") were approved by the board for issue and were issued on the following dates: Date of issue 2011 Issued to Issue price Number of shares Percentage of Enlarged Issued Share Capital* 3 October Westward Consultants Limited 0.12p 208,333,333 4.5 5 October Mr Ron Pritchard 0.10p 50,000,000 1.1 5 October Mr Michael Robinson 0.10p 50,000,000 1.1 1 November Westward Consultants Limited 0.10p 250,000,000 5.4 20 December Mr Ron Pritchard 0.10p 47,000,000 1.0 20 December Mr Michael Robinson 0.10p 47,000,000 1.0 652,333,333 14.1 The shares issued to Westward Consultants Limited were issued on the instruction of Balfour Consultants Limited ("Balfour") in settlement of £0.5 million of fees due in respect of services provided by Balfour to the Company and Merchant Capital Limited, a wholly-owned FSA registered subsidiary of MHG. The services provided by Balfour relate to the establishment of a digital options platform, which is due to be launched shortly, the creation of new funds, licences for which have been applied for and are in the process of being finalised, and the introduction of new assets under management. The shares issued to Mr Pritchard and Mr Robinson were in respect of the part-settlement of certain liabilities owed to them. Mr Pritchard and Mr Robinson were formerly executives of The Clarkson Hill Group (in administration) ("CHG"), which was acquired by the Company in December 2010, and assisted in the transfer of the business and assets from CHG to Merchant House Financial Services Limited, a wholly-owned subsidiary of MHG, including the transfer of the relationships with the product providers, the collection of debtors and the successful recruitment of financial advisers. MHG has today applied for the New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to occur on or around 10 April 2012. The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company. * Following the issue of the New Ordinary Shares, the issued share capital of the Company comprises 4,603,694,793 ordinary shares of 0.01 pence each. Following the publication of this announcement, the Company has requested that the Suspension is lifted and trading in the ordinary shares of MHG will resume at 12:00 p.m. today. For further information: Merchant House Group plc James Holmes, Chairman Christopher Day, CEO +44 (0) 20 7332 2200 Cairn Financial Advisers LLP Tony Rawlinson / Avi Robinson +44 (0) 20 7148 7900 Symvan Securities Kealan Doyle / Nicholas Nicolaides +44 (0) 20 7464 4260 This information is provided by RNS The company news service from the London Stock Exchange END 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 3, 2012 Share Posted April 3, 2012 The Clarkson Hill Group Company Secretary - Gary Withey. Director - Katharine Prichard also a director of Wills & Co. who was banned for financial irregularities at that stockbrokers. Both companies went into administration owing millions. Pritchards Stockbrokers picked up clients from Wills & Co, before going bust themselves. Merchant House Group aquired some assets from CHG and set up a financial plannning division. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted April 3, 2012 Share Posted April 3, 2012 (edited) The Clarkson Hill Group Company Secretary - Gary Withey. Director - Katharine Prichard also a director of Wills & Co. who was banned for financial irregularities at Wills & Co. Both companies went into administration owing millions. Pritchards Stockbrokers picked up clients from Wills &Co before going bust themselves. MHG aquired some assets from CHG and set up a financial plannning division. IIRC Wavetower shared at least an address (before switching to Collyer Bristows' address) with Clarkson Hill. Edited April 3, 2012 by forlanssister Shit grammar! 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted April 13, 2012 Share Posted April 13, 2012 Looks like some investor/s haven't actually delivered the promised monies after the last share placing, what odds would a bookie give on it being Whyte? RNS Number : 2600BMerchant House Group PLC 13 April 2012 13 April 2012 Merchant House Group plc ("MHG" or the "Company") Further re: Issue of Equity Further to the Issue of Equity announcement on 28 February 2012, the Company announces that £150,000 of the £761,500 that was raised at that date has not been received by the Company and the corresponding 214,285,714 ordinary shares in the Company, which have been issued and allotted, have not been delivered to the placees pending receipt of payment. The Company is continuing to pursue these monies and a further announcement will be made in due course. For further information: Merchant House Group plc James Holmes, Chairman Christopher Day, CEO +44 (0) 20 7332 2200 Cairn Financial Advisers LLP Tony Rawlinson / Avi Robinson +44 (0) 20 7148 7900 Symvan Securities Kealan Doyle / Nicholas Nicolaides +44 (0) 20 7464 4260 This information is provided by RNS The company news service from the London Stock Exchange END 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 20, 2012 Share Posted April 20, 2012 MHG shares suspended once again. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted April 20, 2012 Share Posted April 20, 2012 MHG shares suspended once again. Looks like they need the services of a "turnaround specialist" and/or a "venture capitalist"....... 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 20, 2012 Share Posted April 20, 2012 Looks like they need the services of a "turnaround specialist" and/or a "venture capitalist"....... Merchant Turnaround? 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.