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Hey Filthy Forty MoneySwap and Nomad Allenby, tell us about Wraith Holding BV

By Nigel Somerville, the Deputy Sheriff of AIM | Monday 17 April 2017


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.


Well this is very odd. I just thought I'd look up ShareProphets AIM-China Filthy Forty play MoneySwap's (SWAP) putative white knight rescue financier Wraith Holding BV as announced in recent RNSs on the OpenCorporates.com website. Guess what? It's not there. Can anyone explain?

For anyone wanting to look up UK and foreign entities (apart from secretive BVI and similar juresdictions) the OpenCoreporates website is a goldmine. You even get links to court hearings regarding insolvency.

On 6 March this year MoneySwap released an RNS announcing a potential rescue refinancing, with this nugget of information:

The Company is pleased to announce that that it has today entered into a loan agreement (the "Loan Agreement") with Wraith Holding B.V ("Wraith"). In addition Wraith has entered into a number of other agreements with the Company and certain of the Company's existing creditors and shareholders (together, the "Agreements").  The Directors believe that the Loan Agreement and the other Agreements will provide the Company with sufficient short term working capital so that it can complete its audit for the year ended 31 March 2016, as well as progress a significant fundraise by the Company (the "Potential Fundraising").  The Potential Fundraising, if agreed, would be subject to the satisfaction of certain conditions and would provide the Company with the working capital it requires....


That's all very well, but who/what is Wraith? We are told:

Wraith is a Netherlands based investment company wholly owned by Mr Gilbert Armenta and incorporated for the purpose of investing in Moneyswap. 

Now it could be that all is well and Wraith Holding B.V. exists and is registered. But it doesn't seem to come up on the OpenCorporates website.

Can anyone explain?


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