[Article] A brief sceptical review of the prospectus

[simplythebest 0]

As I said in my article, early on before season tickets there were likely a few funding shortfalls. Duff and Phelps ran out of money as well.

[forlanssister 3,050]

Forlan, couple of points regarding 'Imran â??makes Wonga blushâ? Ahmed' (as you put it) -

 

Firstly, regarding his loan and the outstanding £22,000 which was converted into an alarmingly large number of shares: The gift of such a large number of shares would surely have been his reward for helping Green & Co broker the takeover deal, found the new company and bring in other investors? All I'm suggesting is that it's not quite as simple as 22 grand equals 2.2 million shares in his particular case as if it was a slight of hand or rip-off.

 

They weren't a gift as such though since he effectively paid 1p per share. I'm led to believe it's more a case of Green working on Ahmed's behalf than the other way around. There would be an outstanding loan of £22k due to Ahmed listed if it hadn't been satisfied.

 

Secondly, I was under the impression that he was indeed initially on the Board of Directors and I'm sure he was listed as such, but that was then amended. The official site listed him as being a director on the board up until quite recently when new directors were appointed. Was it up until Walter and Hart were brought onboard?

 

There's a difference between what's required for a Private Limited Company and a Public Limited Company, private companies don't have to comply with the rules and regulations of the AIM market for starters.

[ComeOffit 0]

As I said in my article, early on before season tickets there were likely a few funding shortfalls. Duff and Phelps ran out of money as well.

 

lol, a £200k funding shortfall doesnt look too good for new owners a few weeks after purchase. It looks more like a vehicle to bung yourself 50k and tie the share issue in with it, like Zappa pointed out.

[simplythebest 0]

The takeover was under rather extraordinary circumstances.

[Bluedell 5,329]

On the issue of the directors, Companies House seem to think that the following are the directors:

 

The RFC Ltd - Murray, Stockbridge and Ahmad

RIFC plc - Green and Stockbridge

 

Interestingly enough, the prospectus says that Green IS a director of The RFC Ltd.

 

Companies House states that they must be notified within 14 days of a director being appointed.