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Tom Winnifrith Bearcast - 11 February

By Tom Winnifrith

11 February 2015 10:20

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The good news: Worthington's lawyers letter issued today is not from Pinsent Masons and so as per my deal with God earlier I can carry on drinking, swearing and thinking about Cheryl Cole. In short: the letter has arrived and I shall see you in short bitchez! I am not a man for backing down. The bad news, my critics have anounced they will smear my 78 year old Dad as well as me. I feel a bit of white rage coming on here. At a company level I discuss Trap Oil, Gulf Keystone and Tangent Communications.

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Comments

Jeremy

12 February 2015, 06:09

Tom,
Re Worthington Group Plc.I don’t know if you noticed that CPS Energy Resources PLC,the deal with which Ware indicated could have the potential to be worth circa £20 to £30m to Worthington that failed to proceed recently,had shortly prior to Worthingtons announcement of its failure been sold,subject to DD, to a Canadian outfit called 1011709 B.C. Ltd,a subsiduary of Haltain Developments Corp for just Cdn$2m in a paper/loan stock deal.

Whilst Worthington did not claim a certainty in their valuation,their potential claim added much to the hype,and It would be interesting to see how Worthington reached their original valuation,and if it was a fair claim for a main market quoted PLC to make.

I draw your attention to another claimed Worthington deal,namely,the £43m Chinese legal claim portfolio.Worthington has given as far as I aware no details,but I believe it may in full or part have some connection to a former AIM listed company called Europasia Education Plc,later Commodity Growth Plc,last known address 8 Firs Rd Bournemouth.A director of this company was James Dominic Robert Rupert Holmes,(also connected with CPS Energy Resources Plc incidently and in addition many other unrelated AIM & other failures),business associate at various times of Craig Whyte & Doug Ware.Europasia and an associated former OFEX/Plus Markets listed company called Dalian Business Institute Ltd and another OFEX company China Education Group ltd claimed to be developing a University in China called Dalian Institute which ran into dificulties.
A website called www.europasiaeduction.com is still extant with details.

If Worhington gets its £43m perhaps it can help with Naibu’s cash!