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EXCLUSIVE: Worthington: Newco website unveiled – are you sure it’s not Flagship Global, Aidan?

By Cynical Bear | Tuesday 18 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.


On his blog, Aidan Earley recently denied that Newco is Flagship Global Corp, which I always thought was the most likely contender for Newco, and it may be that he is telling the truth. However, having now gained access to the pre-launch Flagship Global website, it looks incredibly likely that it is Newco or, perhaps more accurately, that it was going to be at one point. Take a look.

If you’re quick, you will still be able to access the website at www.flagshipglobalcorp.com. You will note that it is password protected; however, I was lucky enough to be able to draw on the expertise of some friends at Bletchley Park and, after months of effort, the password was cracked.

The password is flagsh1p.

Marginally better than “password” or “12345678” I suppose, but only marginally.

I appreciate that it is highly likely that the password will be changed within minutes of this piece going live so I have copied a few extracts from the site below for those less quick off the mark.

The Home page sets out the aims and strategy for Flagship Global which one can see below.

Ends

It all looks very similar to the old Worthington plans and the aim to undertake a series of acquisitions and move to Nasdaq main board ties in with part of the original plans from Aidan’s blog. The following piece of compliance news is also very interesting too:

That’s quite a coincidence, Holman Fenwick Willan has been appointed to oversee compliance.

I do accept that there may well have been a change of plan as Aidan’s blog does now talk about a listing on a European exchange. This change may well have come about due to SEC oversight of Flagship arising from the previous ownership of the company which has in turn caused the delay in the issuance of the share certificates. However, if that was the case, it is slightly odd that this website is still being updated as the 10-K filing from 15 April has recently been added. Perhaps Flagship will carry on in its own right and be a competing conglomerate to New Newco?

Aidan, perhaps you can clarify matters when you provide a further update later this week?

In any event, it’s good to get a sense of the sectors being targeted for acquisitions and at least Holman Fenwick Willan is being kept busy!

I would love to think that behind the scenes now, certain indivduals are hastily redrafting website pages so that it is not so obvious that New Newco was looking at the identical sectors that Flagship Global is/was going to target.

To close on a more amusing note. The first piece of news that has been added to the News section on the website from last August is a reference to its 8-K filing; however the URL for this page is www.flagshipglobal.com/test-from-allan.

Great work Mr Biggar!


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