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After todays annual meeting with cattles!!!!!


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hi quick question for ( postggj ) im sorry to but in on your conversation, buti am trying to find out where we stand with welcome finance after todays annual meeting with cattles!!!!!

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Cattles plc

29 June 2010

 

 

 

Cattles plc

 

Annual General Meeting and Board changes

 

Annual General Meeting

 

Cattles plc ('the Company' or 'Cattles') today held its Annual General Meeting. At the meeting, all of the Resolutions proposed and recommended by the Board were passed with the exception of a resolution to shorten the notice period required for convening General Meetings.

 

A further four resolutions, which had been proposed and supported by certain of the Company's shareholders and which the Board had recommended shareholders to vote against, were all defeated.

 

During the meeting, the Board highlighted the deficit on shareholders' funds as shown by the 2008 Accounts. While the audit of the 2009 Accounts has not yet been completed, it is already clear that the size of this deficit will have increased significantly since 31 December 2008, principally due to further impairment of the loan book. The Board repeated its previous advice to shareholders that in view of the significant financial deficit, the Company's shares have little or no value.

 

The Board very much regrets the serious loss suffered by shareholders and understands their frustration. Nevertheless, in these circumstances the Board's legal obligation is to give priority to the interests of the Company's creditors.

 

Board changes

 

On 3 June 2010, the Company announced that James Drummond Smith would resign as a Director and as Finance Director with effect from the conclusion of the AGM and that his successor, subject to FSA approval, would be Paul Felton-Smith. Mr Felton-Smith has now received approval from the FSA for this appointment and has therefore joined the Board with immediate effect.

 

In addition, Robert East will become Managing Director of the Group's operations with immediate effect. Margaret Young will continue in her role as Executive Chairman of Cattles and Welcome Financial Services Limited.

 

 

Margaret Young, Executive Chairman, said:

 

"On behalf of the Board and all of our employees, I would like to thank those shareholders who have supported the Board at this difficult time for the Company. Your support will help us achieve our objective of a consensual restructuring of the Company, which we hope will include an offer for shareholders."

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Not Long Now

 

It Just Means The Money From The Share Holders Can Now Go Straight To Royal Bank Of Scotland

 

Cattles Is Only Trading In All But Name

 

Its Making No Money, Infact Its Loosing Money Still At An Alarming Rate

 

I Give Cattles 3 Months Max

 

Rbs Is Taking Out The Marrow Now, No Flesh Left

 

Just Watch Out For Welcomes New Kidd On The Block

 

Mkrr Dca

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who is mkrr and what is it about, i have subject access requested them and have a ppi claim on its way to them, dates were changed on my loan agreement and a forged signature on my legal charge document. ive really got the horn to have these low lifes wiped out!!!

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monkeys head,

 

I've started your own thread.

 

Regards.

 

Scott.

 
 

Any advice I give is honest and in good faith.:)

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ye, took out a secured loan in 2004 and toped up october 2007, missed 1 or 2 payments nothing heavy, they started with usual tricks we need extra payment to covrt arrears. paying at the time 247 and uped it to 300 to clear off arrears only to find on my statements that i am being charged 258 a month in whats called capialisation so nothink is coming off loan and hardly any off arrears!! they wont say what it is this capialisation.so i did as advised by many on here and sar them!!

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recived it with in 10 days of posting, thedate on thr loan aggreement was altered and the legal charge document had forgred signature onit, how can they justifiy 258 a month intrest!!!!

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the interest is front loaded

 

that is paid upfront

 

they screw you with max interest that way with there lousy apr

 

ill jump back tomorow on this one

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hi, i have m local c.a.b acting on my behalf who contacted me today and confirmed that they would be in touch with welcome and pursuing an un enforcable agreement.with what i told you yesterday would you posibley agree!

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