Fibregen

Saturday, Jun 18 2011 by
1

As a new kid on the block, I apologise if this is not the right thing to do.
Does anyone have any info on Fibregen plc (used to be Libra Natural Resources)? It seems to have vanished and I don't know where to look for current details.
Have a good weekend.


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20 Posts on this Thread show/hide all

HairLoss 5th Jul '11 1 of 20

Hi Chris, I did a Google on Fibregen and they appear to still be trading at;
FIBREGEN LIMITED
31 HARLEY STREET
LONDON
W1G 9QS

I am going to try and find them in Companys House and see what the financial situation is.

Cheers,
Mark

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Bengola 5th Jul '11 2 of 20

In reply to HairLoss, post #1

Good morning,
Thanks for your comment. I hope you have better luck than I have had. All routes that I have tried have provided no information - even the "Evergreen" Group who are, (or were?) tied up with FBG fail to reply to requests for an update. FBG was delisted some time ago and has disappeared from all the places that I have looked. Once a company fails to keep its own web site going, it does not look very promising!
Best of luck!
Regards,
Chris

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HairLoss 6th Jul '11 3 of 20

Hi Chris,

Had a quick look on companies house database. They are still trading and the last accounts were made up to 30/06/10. 2011 accounts will be available end 2011 or early 2012. (it costs £1 to download them through companies house so I'll get a copy when they are available).

It seems most of the old directors have gone;
APPOINTMENT TERMINATED, DIRECTOR RICHARD SQUIRES
25/05/2010 DIRECTOR APPOINTED MR JOHN HAROLD STIRLING
25/05/2010 APPOINTMENT TERMINATED, DIRECTOR MARK CAMPANALE
25/05/2010 APPOINTMENT TERMINATED, DIRECTOR JOHN STIRLING
25/09/2008 APPOINTMENT TERMINATED DIRECTOR PETER GREENSMITH

There is a statement of capital showing. Not sure what this refers to exactly but it is not an exciting amount;
21/02/11 STATEMENT OF CAPITAL;GBP 639000
09/02/10 STATEMENT OF CAPITAL GBP 591976.86

And it is now a private Ltd company rather than a PLC
27/09/2010 CERTIFICATE OF REREGISTRATION FROM PLC TO PRIVATE

The Harley Street address seems to be merely a postal address as Google shows several companies trading from this address.

So they are still trading in some fashion but the low statement of capital suggests that there isn't much left of the original company. I guess we put the shares under the bed and see what is happening when we reach retirement!



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Bengola 7th Jul '11 4 of 20

In reply to HairLoss, post #3

Good morning Mark,

Thanks for the info. When I tried that route ages ago, I found nothing, so perhaps I was doing something incorrectly, or do I need an account or similar?
Meanwhile, I'll try again and see what happens, and perhaps write direct to the company's address using good old paper since they aren't available electronically as far as I know at present.
It seemed like a good company etc, when it was Libra, but has not improved with age!

Regards,

Chris

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Bengola 16th Aug '11 5 of 20

In reply to Bengola, post #4

Hi anyone interested in Fibregen,

Because of umpteen different commitments (including enjoying the summer!), not much progress has been made by me. Directory enquiries (192.com or similar) still list FBG at the Harley Street address, but when you call the number quoted, the answering receptionist can only say that they left the building some time ago and left no forwarding details. I have found another address for them: City Tower Level 2, 40 Basinghall Street EC2V 5DE, but no phone number. If anyone lives or works near there, it may be interesting to pay them a visit and ask a few questions!

Any further info will be gratefully accepted.

Regards to all,

Chris.

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Bengola 21st Sep '11 6 of 20

Morning All,

Still no news - I have now writen to the co at the Basinghall address - probably a waste of a stamp, but what other suggestions are there?

Regards and BOLTA,

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Gresham24 10th Nov '11 7 of 20

Could try their former registrars - Share Registrars Limited at Craven House, West Street, Farnham, GU9 7EN.

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Bengola 16th Nov '11 8 of 20

Thanks for the suggestion - will do that in the fullness of time. Not hopeful though!

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Gresham24 17th Nov '11 9 of 20

In reply to HairLoss, post #1

Share Registrars have confirmed to me that FibreGen is trading from the Harley Street address and that my shareholding is on record. So far I have failed to discover a value for the shares but I suspect it may prove to be minimal.

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Gresham24 17th Nov '11 10 of 20

In reply to HairLoss, post #3

When you say "I guess we put the shares under the bed and see what is happening when we reach retirement!" I have little comfort from it - I am well into that blessed state now. However,the consolation in retirement is that the world and national economic debacle is less disturbing to the tranquillity of a pensioned existence.

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Bengola 23rd Nov '11 11 of 20

In reply to Gresham24, post #10

Thanks for the update. I am in a similar state to your good self, pension wise. Interesting that the Share Registrars still think FBG are at Harley Street. When I phoned them there, the receptionist said they had moved out (see earlier post). No response from the Basinghall address either. Begins to look like a very dead duck.

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Bengola 10th Jan '12 12 of 20

Good afternoon to anyone still interested in FBG. It seems that trying to extract any information from anyone is flogging a dead horse. My letter to the Basinghall address has been reurned unopened. The Company Secretary a

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recreational 5th Apr '13 13 of 20

Having disappeared off the planet for 4 years since delisting from AIM, Fibregen have sent me a share certificate!

The nominal value of ordinary shares is 3p.

Hope this helps

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Bengola 2nd Jun '13 14 of 20

So the company is not wholly dead? Perhaps, or perhaps not!
Since my shares are held in a nominee account, I doubt that I will receive any certificate, but maybe the account holder will tell me what is what.
When you say that the nominal value of ordinary shares is 3p, could you explain where they have got that figure from - if they have actually told you, that is?
Have they given any clues as to how your shares can be sold if you so wish?
Regards and GLTA.

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AlanJenkins2 5th Mar 15 of 20

Try 'phoning them at 020 7580 7576 [address 71 Harley Street,London W1G 9QS - source Bloomberg Businessweek].

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Guzziman 6th Mar 16 of 20

The name evergreen rang a bell?
FCA search revealed Evergreen Private & Trust PLC and Evergreen Equity.
http://www.fca.org.uk/search?cx=007702012814746907219%3Aygc2cqogj8e&cof=FORID%3A9&ie=UTF-8&q=evergreen

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AlanJenkins2 9th Mar 17 of 20

Their website seems to be working,now.Listed as a private company.Can someone please tell me - if a public company de-lists,does that alone make it a private company ?

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marben100 9th Mar 18 of 20
1

In reply to AlanJenkins2, post #17

Hi Alan,

The answer is "no". Within the terms of the Companies Act 2006, a public company (Plc) is not necessarily listed. A public company that wishes to become private must reregister, which requires a special resolution, to convert from public to private status. Section 97 of the Companies Act defines the procedure. Shareholders have weaker rights in a private company than in a public one. Private companies are prohibited from offering shares to the public.  There are actually 4 types of company recognised in the Companies Act (as well as companies limited by guarantee and community interest companies), in the following order of onerousness of regulations:

  • Private
  • Public
  • Traded (on a regulated market, e.g. AIM)
  • Quoted (fully listed or listed in certain overseas exchanges)

 

Traded and Quoted companies are, of course, also subject to the regulations of the markets on which they are traded.

HTH,

Mark

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AlanJenkins2 9th Mar 19 of 20

Many thanks,Marben

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marben100 9th Mar 20 of 20

PS The above illustrates why ShareSoc will shortly launch a campaign aimed at ensuring that all shareholders are registered by default and are not forced into nominee accounts by their brokers. Anyone directly registered would, by law, have received the information about the company's intention to re-register as private and would have been entitled to attend the general meeting that was held to approve this change and vote. Likewise for the delisting resolution.

It is often because directors know that a large proporiton of their shareholder base holds their shares in nominee accounts that they feel that they will face little opposition to proposed fundamental changes. Note that it only needs 25% of shareholders to vote against a delisting or re-registration from public to private for such a resolution to fail.

Once a company delists, it is very hard to trade its shares and even harder if the company becomes private. Generally the shares can only be  traded on a "matched bargain" basis, where a buyer is found for the precise number of shares tht the seller wishes to sell, at a mutually agreed price. Remeber that private company shares cannot be offered to the "general public" by law. NB the nominal value of a company's shares is largely a technicality, defined in the company's articles. It does not guarantee that the company's shares can be sold for that amount or are worth that amount. It is simply a minimum amount that must have been paid when the the shares were first issued.

Cheers,

Mark

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