goinggreen16
Registered User
- Messages
- 4
Things I would have in mind before I would launch anything:
1. What is the shareholding structure of the Company?
2. Copy of Memo and Articles
3. The BES Prospectus if any.
4. The BES promoters
5. The Directors of the Company
6. What exactly was the basis of the Investment?
7. Were there Put/Call options on the shares?
i.e. before you go anywhere you need your facts and documents assembled.
I also am aware of someone who invested in a BES scheme related to the recycling business 2 years ago. Was promised by the director verbally that all BES money would be repaid in full. Got a call this year to say that things not going well with the company and that the directors are trying to sell the company at a loss. Will mean investors only get an offer of 10 % of their original investment back if buyers can be found. They have had the benefit of tax relief but even still will have to endure a substantial loss on the initial investment amount. There was a put and call agreement in place. Not sure if they have any comeback. All these BES schemes were heavily advertised in the Sunday business post annually. None mentioned the high risk nature of the schemes. Also I think there may be a tax clawback if the company folds making the losses even higher.
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