2190 days ago
Tern (TERN) is, of course, the bete noire of our own Nigel Somerville. It has also be THE AIM wonder stock of the past week. So what exactly did Bruce Leith say at UK Investor Show. Enjoy.
3600 days ago
For the fourth time I have written to AIM regulation asking for a formal investigation into whether Roland “fatty” Cornish and his firm Beaumont Cornish carried out its supervisory duties adequately in the period June-September 2012 with regard to Digital Learning Marketplace (DLM), now Alpha Returns (ARGP), a firm then run by crony capitalists Angus Forrest & Bruce Leith who are now running Tern PLC (TERN) into the ground. This is prompted by the shock whistle-blower letter from July 17 2012 which I published in full yesterday, HERE.
That letter was sent to Fatty.
3600 days ago
With thanks to Spandau Ballet, I open what I hope will be my final piece on the matter of Angus Forrest, Bruce Leith and Tern (TERN) – at what point do the non-exec and advisors realize that without regime change this company is uninvestable and will thus go bust? For shareholder’s sake one hopes that point is now.
Deputy Sheriff Comrade Nigel Somerville, of the 1st Oxfordshire Peasants Army laid out the rap sheet against Forrest and Leith in full at the weekend HERE.
Over the past ten days in excruciating detail he and I have shown how at Digital Learning Marketplace (and indeed at Tern) the two men have systematically misled investors with statements that were untrue or by not revealing information germane to the investment case.
Tern is more or less bust anyway
3606 days ago
Earlier today one of the deputy Sheriffs of AIM, Comrade Somerville, flagged up massive issues with the CVA agreed by Digital Learning Marketplace (DLM), now Alpha Returns (ARGP) under the watch of Angus Forrest and Bruce Leith, the two men now running Tern PLC (TERN), into the ground. But Deputy Somerville misses out a couple of points which just add to the scandal which, in a just world, would mean Forrest & Leith swinging on a corporate noose this week.
Some might say that CVAs are complex and that Forrest & Leith could be forgiven the odd error (albeit some pretty massive ones). But that would be to ignore their track record.
3612 days ago
Tern (TERN) chairman Angus Forrest is fleeing the country. Okay, I exaggerate, he is on a boat to France as he prepares for a week’s holiday. How do I know? Because he has just called me. Forrest tells me that what I am about to publish is confidential. But since it is explosive does he think I give a FF? Come on DLM (now Alpha Returns), Forrest, Bruce Leith go send me a lawyers letter if you want.
The Sheriff of AIM is not scared by such threats and Angus Forrest and Bruce Leith, as of yesterday, are officially “in sights” - see HERE
On 14th August 2012 Digital Learning Marketplace run by Angus Forrest and Bruce Leith issued this RNS:
3612 days ago
Oh dear. Oh dear. If Angus Forrest, the chairman of AIM Cesspit listed Tern PLC (TERN) was having a bad weekend it just got a lot worse as a raft of new documents have fallen into my possession regarding events at DLM (where he was chair) back in July-September 2012. And as for DLM’s Nomad, Roland “fatty” Cornish? Roland, do you just ignore whistleblowers and allow your clients to lie to investors? Fatty you are also deep in the merde now. I have a damning email which you do not wish to seepublished. Oh dear I am not the sort of guy not to publish am I?
But, for now, the Sheriff of AIM has had a good lunch with Mrs Sheriff and is off for an afternoon snooze. I will then start publishing extracts from the documents and emails one by one, demonstrating that Forrest LIED systematically on a range of issues in RNS statements signed off by Fatty. And that his co-director Bruce Leith was in on it all.
3613 days ago
I have now twice demanded that Tern PLC (TERN) sack Angus Forrest and Bruce Leith because of statements made when they ran Digital Learning Marketplace (DLM) - now Alpha Returns (ARGP) in 2012. But it gets far worse…
To read my first demand for the heads of Forrest and Leith click HERE
To read my second demand for the heads of Forrest and Leith click HERE
The issues are that the two men were responsible for RNS statements that were quite frankly lies. The first (August) concerned an unconditional contract that was in fact a conditional contract. That act of misleading allowed a placing to be undertaken. The second was a September AGM statement which was upbeat. But at the same time the CVA of DLM’s main operating unit was already underway, the contracts had gone and DLM itself was heading towards a CVA.
This morning I have been told by a reliable source
3620 days ago
I outlined on Friday why Tern PLC (TERN) must fire its chairman Angus Forrest and his gopher sidekick Bruce Leith NOW. Quite simply they have been shown to have committed corporate malfeasance and to have lied to investors at the last POS company they were in charge of – what was then Digital Learning Marketplace (DLM) and is now Alpha Returns (ARGP). I have written – as you can see HERE - to the Nomad (John Wakefield at WH Ireland) and Non Exec, Laurence Read ( a totally honourable man) demanding that they fire the two crony capitalists at once. But it gets worse.
3620 days ago
Nigel Somerville has earlier today (HERE) published the most extraordinary evidence of corporate malfeasance at what was Digital Learning and is now Alpha Returns (ARGP). The two directors exposed by Nigel now run Tern PLC (TERN), another sub scale investment company on the AIM Cesspit. I demand that they be fired NOW!
The FCA and other watchdogs are fully aware of the evidence that Nigel has gathered and investigations are underway. The Non Exec at Tern Laurence Read is an honourable guy and he could choose to wait for the official regulators to act. However the evidence is now out there in the public domain. The Sheriff of AIM has a noose at hand and suggests that Read and Nomad John Wakefield of WH Ireland use it. Forrest and Leith must go NOW!
In that vein I have just written to John and Laurence as follows.
Dear Laurence & John.
