by LESTER CROSS
A news release purported to have been issued in California by Gennfros Ltd., a company dubbed 'son of Avocet', has put paid to months of speculation over the identity of prospective wealthy investors while at the same time leaving some shareholders scratching their heads in apparent disbelief.
And the release reveals that the offshore "multi billion private enterprise" known only as P. C. H. intends increasing its planned investment into Gennfros to an eye-watering £400 million, rather than the £250 million quoted by Avocet Group chairman Martin Frost in previous shareholder letters.
While the press statement was still being digested by those with an interest in Gennfros, Mr Frost, who has no role in that company's day to day operations, circulated an email to Avocet Natural Capital PLC shareholders which included detailed information about P. C. H.'s business activities.
The news release from Gennfros did not provide a contact name or telephone number which would have allowed media representatives to ask questions and seek additional information. There was no address or contacts for P. C. H. either.
According to the statement: "P.C.H., a multi-billion private enterprise confidentially financed by Alphabet & Amazon executives & shareholders, is moving its Geneva Office to London. During May 2021, P.C.H. acquired controlling interests in the English companies Gennfros Limited, along with the Avocet & AFS companies promoted by the controversial Anglo Irish entrepreneur Martin Frost.
"P.C.H. by equity & loan capital is investing some £400 million into Gennfros Limited. Apart from providing further seed funding for Gennfros’s intellectual property portfolio, the bulk of this cash is to establish two molten salt thorium electric generating plants - hopefully to be developed at Windscale, Cumbria, England and at Lisheen, County Tipperary, Ireland."
The Windscale nuclear power plant had its name changed to Sellafield in 1981.
And the release continues: "P.C.H. from its London Gennfros base intends: 1. To establish an entrepreneurial financial hub to invest in European high tec companies & concepts. To this end, established progressive investment analysts are being recruited. 2. To set up a worldwide litigation & arbitration brokerage. As a starter Gennfros has already acquired over £100 million of litigation; and further briefs are being negotiated from insolvency practices, banks, and law firms.
"P.C.H. shortly hopes to establish a full trading relationship with international lawyers, Fieldfisher who in turn is establishing a criminal litigation arm to match its civil. 3. To set up an international financial marriage bureau & trading platform for companies & high net worth individuals. Gennfros (now meaning P.C.H.) has already an option to acquire shares in the English company Asset Match though a full bid at £5 million is under consideration. As one can easily see at UK Companies House, Gennfros & Asset Match have a mutuality in their shareholder base."
One 'veteran' shareholder in the Avocet Group commented: "P. C. H. could mean anything. I typed P. C. H. California into Google and it came up with Pacific Coastal Highway. I'm afraid this new smokescreen with promises of more information soon is totally unsatisfactory".
Mr Frost's shareholder letter warns: "I appreciate your patience, but you will not receive anything concrete from P.C.H. until June 2nd."
He explained that P.C.H., a private company, was the ‘mystery investor’ into Gennfros and was the company 'hoovering up equity in Avocet associated companies'.
Mr Frost added: "Obviously, P.C.H. is an acronym – and much more will be revealed on June 2nd though I am able to advise that the business is based in a US offshore tax haven where for obvious reasons its principals seek anonymity: currently the business acts in many jurisdictions via both disclosed and undisclosed agents. That said P.C.H. is moving from being a company purely of passive investment to one of involvement".
ANC shareholders are also told: " The intellectual property sale from Avocet IP Limited is simpler. This intellectual property emanates from IP once held by US subsidiaries of AFS Ventures Plc and was not sold into Avocet IP Limited until 2018.
"The price obtained for this IP is beneficial – but because in my opinion there are some nutters...laying false claim to Avocet’s IP, we decided to keep details of the transaction secret until spurious claims and objections floundered. During next week further positive public details on the IP sale will be released".
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