by OUR BUSINESS STAFF
The UK Department for Business, Energy and Industrial Strategy [BEIS] has been asked to confirm whether Cabinet minister Kwasi Kwarteng approved a request from 'mystery' investors to remain anonymous as shareholders in companies linked to the Avocet and Genfro groups claim so-called Parachute Holdings Inc. does not exist.
The extraordinary move to involve Business Secretary Kwarteng in the affairs of firms which have yet to bring any product to market was revealed in two documents circulated recently to shareholders in 'disruptive technology specialists' Avocet Natural Capital, and by the enigmatic 'Tim Carter', of PCH.
'Carter' says PCH is an informal group of non-UK investors mainly of a Jewish persuasion who seek currently to retain their anonymity. He indicates that PCH intends using the services of solicitor Kit Jarvis, of the London law firm Fieldfisher. The firm has also had dealings with the Avocet group.
The first reference to Mr Kwarteng was made in a 'newsletter' from ANC chairman Martin Frost on July 29th after allegations appeared on the Avocet Shareholders' Forum to the effect that PCH was a fictional outfit. There is no contact address for PCH and the 'group' does not merit a mention anywhere on the internet, according to critics and doubters.
Mr Frost declared in his email: "The ‘mystery investors’ are known to some of Genfro’s prominent shareholders, its lawyers, but most importantly ‘The Secretary of State for Industry Mr Kwasi Kwarteng’ who was approached to secure anonymity."
Two days later a collection of documents distributed by Mr Frost included the text of a letter purporting to have been sent by 'Tim Carter' to Sarah Munby, Permanent Secretary at BEIS with the anonymity request for PCH.
The letter to Ms Munby states: "Over the last three years, PCH has acted as a guardian angel to controversial Anglo-Irish businessman Martin Frost who promoted Avocet Natural Capital Plc.
"To keep ANC Plc alive & protect its valuable intellectual property PCH is responsible for: Over £2 million pounds of gift life support funding; Liaison with colleagues who control the ownership of the Israeli Leviathan and Tamar gas fields which prompted a $100,000 US dollar offer to ANC’s subsidiary Avocet IP Limited for its old AFS jet fuel from air patents. Due to ANC Plc stupidity, this transaction failed though a reduced-price deal of $30 to $40 million is in the offering."
'Carter' goes on to claim that because of "SNP inspired badness" PCH decided it was wasting resources attempting to support a company focused out of Scotland. PCH thus encouraged Martin Frost and his colleague Dr. Bob Jennings to set up a completely new entity, Genfro Limited.
"For strange reasons of sentiment Frost & Jennings then gave away options for chosen others to obtain Genfro equity at humongous discounts. These gifts and their domino consequence have angered PCH. PCH would like Genfro Limited to be owned by people of like minds to PCH."
Ms Munby is also told: "Presentably, PCH has funded four provisional patents of which one for a non-explosive methanol additive to allow green methanol to become a clean replacement diesel is the most valuable. PCH is about to fund a further 30 more fuel and agricultural patents which should result in Genfro Limited becoming a £200 million IP company.
And according to 'Carter': "Down to ongoing perceived dishonesty infusing Scottish politics along with unjustified and apparently racially motivated SNP hate campaigns, PCH wishes to keep out of the limelight.
"Our understanding is that under UK company law PCH & colleagues can retain anonymity providing we keep our respective overseas shareholdings below the 25% threshold. Please confirm promptly if our understanding is correct: if not I regret PCH will not invest in the UK."
So what was the outcome of 'Mr Carter's' approach to Mr Kwarteng's with the request for anonymity? Not Just Sheep & Rugby has asked BEIS for a statement which will be published once we receive it.
No comments:
Post a Comment