Parachute for Mr Frost

by LESTER CROSS

Avocet chairman and Gennfros life president Martin Frost will give up all of his management roles in both businesses by the end of June, according to 'confidential' information provided to shareholders by a representative of Parachute Holdings, a mystery company with no office address or contact numbers.

The document from a "Tim Carter M.B.A, PhD" reveals that Mr Frost, head of a raft of Avocet companies for seven years, has accepted a position with Parachute Holdings (PCH). Meanwhile Dr Bob Jennings, his fellow executive director in an operation yet to market a single product is also to be offered a contract.

In what has become a fast moving and at times incredible saga some long suffering shareholders are blamed for delays in the receipt of offers for their holdings.

Carter writes: "The delay and manner in making offers to some shareholders is not the fault of PCH but one of your own making. Despite all reason, Gennfros shareholders were still registering changes of mind as late as 10 am this morning (the message is dated June 10th).

"This lax attitude will not be countenanced by PCH who are now in the driving seat of the private company Gennfros Ltd.. PCH's purpose is to trade Gennfros Ltd. PCH has access to its own funds, consequently PCH has no need for further equity or loans from third parties.

"PCH will develop Gennfros for mankind's benefit. PCH hopes that many of you will take up its generous offers. Those that remain will be well impressed by PCH's forward drive and blunt approach. But those of you who have reservations please just take our offers and GO".

Then, in a 'Dear Friend' email Carter tells shareholders his name is Tim, and his instructions are to establish a London office from which his bosses will develop a "merchant adventures emporium".

A puzzled shareholder commented: "As far as I know an emporium is a large retail store selling a wide variety of goods. They often have their own concierge and themed fitting rooms, a far cry from Avocet's 'jet to air' fuel we're used to hearing about".

Carter claims his employers have a duty to assist Martin Frost and Dr 'Bob' Jennings and "rebuild the brilliant Avocet concepts. Our motivation to Avocet and Gennfros is a duty, no more, no less".

A highly unusual arrangement for the purchase of shares in Omega Infinite PLC (currently in compulsory liquidation) and Gennfros is then outlined in the newsletter.

According to Carter: "I advise you that PCH are purchasing Omega Infinite PLC shares at one British penny per share plus a 50% entitlement to the litigation proceeds thereupon recovered. PCH has already purchased 50% of Omega shares. July 1st is deemed settlement day".

So far as Gennfros is concerned, Carter says that via the four companies comprising PCH...we could find no mention of them on company lists for several countries, including the UK and the USA...PCH has acquired four million fully paid Gennfros Ltd. shares from Loch Lomond Heritage (a company owned and controlled by the Frost family) at a price of £3 per ordinary share.

"You are offered £3 for your paid up Gennfros share, conditional that one British penny is immediately paid, that a further £1.49 is paid when a further 15 valid patents are provisioned to Gennfros, followed by a further £1.50 when an additional 15 valid patents are provisioned to Gennfros. July 15th is deemed as settlement day."

And interested parties are asked to note that PCH is reviewing existing Gennfros company policy and management.

"Martin Frost and/or Frost family companies by 30th June will cease to have any management roles in the Gennfros or ANC [Avocet Natural Capital] PLC Groups. Martin Frost has accepted a position with PCH. Dr 'Bob' Jenningsis to be offered an intellectual property contract upon a completion basis.

"After this week there will be no further newsletters: information shall become available via a private subscriber company website".