UK 17:13 Friday, 23 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
We are still to hear from Worthington (WRN) as to its intentions of becoming a global conglomerate listed on four exchanges around the world but meanwhile one of its preposterous operations already seems to be in deep merde. I refer to its claims made about GREP, a company exploring for rare earth minerals in Greenland. This is comedy and you could not make it up. Well Worthington could.
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Comments
James
Tom if this is the case then most WRN shareholders should be pleased. As you said before Greenland is worthless so therefore WRN has escaped a bad investment.
Jeremy
…..and of course James,the “usual suspects”,whoever they might be perhaps cleared a great deal of money selling shares on the back of an over hyped now suggested “non investment” or not as indicated investment in Greenland rare earth mining.Perhaps those who might have purchased the shares on the back of the hype may turn out to be less happy when the facts are revealed about Worthington.
Incidentally do we know to whom or exactly when or for what Worthington issued around 9.5million shares between end September 2014 & March 2015,and have any been sold on.Has Worthington actually done anything apart from purchasing the “Craig Whyte” portfolio, which does not appear to have conducted any actual business, since Ware arrived?Did the Equity Media Partners transaction for example take place?Worthington has given conflicting information.
I find it amusing that Ware feels the need for Worthington to list on four markets when he cannot comply with regulations on its present market,and indeed UK Company Law,over issue of its accounts.
Mark
Check out tonight’s WRN rns
Jibbly
Interesting liquidator report from old Merchant Capital PLC (now 04487961 Ltd) today
Couple of details:
1) Merchant Turnaround were awarded £280k in settlement for £1m that was held with Collyer Bristow – JH claims struggling to get hold of funds too
(IF MT GOT 28%, HOW MUCH OF THE £3M DID WRN GET?)
2) MSR had shares in what we know to be CPS Energy Resources, why are they not on the official shareholder list of CPS? When holding companies are Holmes linked and MHG directors.
(WERE THE POTENTIAL BUYERS WRN? -WRN BUYING OFF THEIR MATES AGAIN)
Birks Bovaird (Nuna)
Nuuk, 2015-05-22 13:54 CEST (GLOBE NEWSWIRE) —
Please view enclosed PDF files.
Ole Christiansen, CEO, cell phone: +299 55 18 57
Birks Bovaird, chairman of the board, cell phone: +1 416 518 0100
http://www.euroinvestor.dk/pdf/cse/2015/05/13163375/Announcement_2015_14_a_creditor_info_1.pdf
http://www.euroinvestor.dk/pdf/cse/2015/05/13163375/Announcement_2015_14_b_extract_of_Q1-Q3_2014.pdf
The Wee Barra
Although the document is missing here https://beta.companieshouse.gov.uk/company/04487961/filing-history. If, as stated, that £280,000 (28%) was paid to Merchant Turnaround. Could that mean that Jerome Pension Fund got 28% of that claim? If so, their payment would have been £840,000 with a shortfall of £2,160,000
The total claim as shown at 1m 28s of the video at
http://news.stv.tv/west-central/300112-rangers-court-battle-with-craig-whyte-over-36m-to-keep-club-afloat/
was for £10.4m. 28% of that is £2.91m. That seems pretty close to the pool amount to me, take out some legal/admin costs
Strange that the RNS below doesn’t state amounts and lists as positive
http://www.investegate.co.uk/worthington-group—wrn-/rns/pension-fund-litigation-settlement/201503231547042257I/
If the above is true, if you add that deficit to the last accounts and strip out the “£10m claim” That leaves net assets of -6.7m (negative) Would any real company want to acquire that?