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DAMESATHOME@YAHOO.CO.UK
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Saturday, 10 November 2012

OUR COUNCILLORS AND THEIR NON EXEC DIRECTORSHIPS



The Dame is seething with anger...and she wants Cllr Br'um Boy to do a little explaining......if he is meant to be a non exec of this decrepit Fund then he needs to earn his fees and sort out the mess: if he doesn't have the time then he should resign. He is having his cheesecake and eating it.

ANSWERS PLEASE!
Husband Number 3, the boring ex Indian Army colonel,  invested his miserable little nest egg in a property fund going under the solid sounding Irish name of the Glanmore Property Fund. The Colonel has now been told the fund has been such an utter dog he would never get his nest egg   out- for another four years! 
Staggeringly, the Fund has made a 82.4% loss during the last five years!
A special resolution has been passed to keep in place a ‘redemption postponement regime’ which prevents investors from redeeming their capital.
Investors were told of the plans in March this year, but have been warned it could remain for a maximum of four years.  It leaves them with a possible exit date of 2016.....
To pay off the huge debts in the Glanmore fund, the directors had been looking to raise new capital though they will be unlikely to succeed.


The latest announcement on Glanmore may be unwelcome news for a number of ex-Tilney investment managers who invested their own and client money in the fund,
Investors stuck in the vehicle had hoped to liquidate their holdings this summer, when a 48-month suspension was due to come to an end.
Come on Daniel...do something! 



4 comments:

  1. Clear evidence that the bus drivers son is a failed businessman.

    ReplyDelete
    Replies
    1. I think you will find that this is the qualification for high office at the 'Royal' Borough.

      Delete
  2. I hope the non executive directors are 'all in it together' and waiving their fees. If investors can't get their money out nor should Daniel Moylan

    ReplyDelete
  3. I am sure that Mr Moylan manages the huge POTENTIAL conflicts of interests implied by being a property developer director and being involved with the Olympic development.

    ReplyDelete

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