Medsea Properties

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22 May 2008 12:00 AM by Eva2008 Star rating in Reading. 152 posts Send private message

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Just had a conversation with a friend who used to be rep for Medsea who have offices in Almeria amongst other places. He was made redundant at the end of April and they are now running with just a few staff members. He also said that they wont last too much longer as the property market is so depressed that they have cancelled all their viewing trips and are no longer making ends meet.

Such a shame as I found them to be a very honest bunch (the only company I believe who's salesmen are salaried and not commisioned)

I hope my friend can find alternative employment soon as he has a young family.



This message was last edited by Eva2008 on 5/22/2008.



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28 May 2008 8:50 AM by alvaro Star rating. 17 posts Send private message

Is true that as the market has slowed down Medsea, has got rid of some good staff, but it doesn´t mean that Medsea is dissapearing, it´s just adjusting to the market demand. Medsea is fully functional and has no problems whatsoever, keeps with the normal work schedule and supporting actual and potential clients forever. Just to let everybody know that Medsea will keep on doing good for the British, European and the Spanish market for a long long time. Tour visits, appointments, meets, and so on, are continiously in Medsea boards, and after sales keeps with the normal inspections at properties for clients and giving the same service that has been procured since 1982.
I hope with this i have helped to understand the real situation of Medsea Estates and time will prove i am right.
As you said Eva, Medsea is a good company, has good staff, honest and qualified, and is an alive company that has to move with the market to stay alive, and that is the only reason.



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28 May 2008 10:15 AM by Eva2008 Star rating in Reading. 152 posts Send private message

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Glad to hear it. I love this company. When I am in the market to buy a place in Almeria, I will only buy through Medsea. The viewing trip was a pleasure and Medseas procedures are very thorough.



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28 May 2008 12:26 PM by alvaro Star rating. 17 posts Send private message

I am glad you enjoy the company. And thanks for your comments.
Best regards.



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07 Jun 2008 4:05 AM by pja2 Star rating. 4 posts Send private message

It's good to hear that Medsea are in 'good health' and that they are continuing to function as a Company.........because I will soon be making plans to get my deposit back!!!!



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17 Apr 2009 1:37 PM by LocationsinSpain Star rating in San Juan de los Terr.... 16 posts Send private message

LocationsinSpain´s avatar

We are part of a Group looking to start a legal action against Tony Gatehouse of Medsea Estates. 

Does anyone have his personal residential address in Spain or any other known properties in any part of the world.



_______________________
Living and Work in San Juan de los Terreros.



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05 May 2009 5:12 AM by Click1958 Star rating. 17 posts Send private message

We are also badly let down by MEDSEA who have without a contract in place transferred my 50% deposit from their client account  to Bella Calabria in Italy- this is illegal. Also the development they promoted and 'sold' to us , 3 years down the line has made no progress at all and doesn't look like doing so ! Their level of communication and response to issues has been diabolical - I would not recommend them in a million years and now they conveniently seem to have 'disappeared'..they are answering no e.mails and no phone calls. There are a lot of people out for their blood . We will be happy to join the hunt and to go as far as neccessary to see justice done if they don't respond to our initial reasonable request to return our funds pronto !

The lawyers Giambrone and Law have also been diabolical in our case and have certainly broken their professional codes of conduct both for UK and European Lawyers .-  we are already on the path of having reported them to the LCS and SRA - if neccessary we will take them to court also...I know others have also begun to pursue this route via the LCS and SRA and some who have gone direct to another solicitor with a view to suing them.

Is anyone else out there supposedly buying in Italy or interested in pursuing Giambrone and Law and MEDSEA and Bella Callabria ? I have information to share and welcome any sharing from others or a joining of forces - Thank God for the internet and blogs !





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05 May 2009 11:13 AM by LocationsinSpain Star rating in San Juan de los Terr.... 16 posts Send private message

LocationsinSpain´s avatar

Sorry to hear of your worries - you are definitely not alone. 

Please immediately log on to the incalabria forum to view a very active forum highlighting the problems with Bella Calabria, Medsea and Giambrone.

Navigate until you find the link to G & L Group Action Poll and register.  I have sent you a private message with the link.

There are steps to collate facts from individuals who fear they may lose their investment in Calabria, Italy so please register your details on that thread.

All registrants will then be contacted privately, 

 



_______________________
Living and Work in San Juan de los Terreros.



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05 May 2009 12:26 PM by Click1958 Star rating. 17 posts Send private message

I will indeed do all of these things you suggest as well as proceeding with my own individual actions of course. Thanks very much for your help and guidance.





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11 May 2009 2:46 PM by JaxA Star rating. 1 posts Send private message

I suggest that no one should use Medsea - we bought through them in Spain. To begin with they were very helpful and professional, but as time has gone on they have withdrawn all there after sales assistance. They do not return calls, emails etc. We even flew out to spain to do an inspection visit and they failed to turn up! Luckily we have a good relationship with the builder and were still able to visit the property. Medsea have reneged on all there promises ... dont use them!!





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12 May 2009 12:08 PM by maylin Star rating in Andalucia and Hertfo.... 71 posts Send private message

This may be of interest to everyone -

Google medsea and Medsea Estates Group Plc Splash Page is interesting

'Meet the board' and

'RNS Announcements' are very interesting.

Regards

M



_______________________
Mick



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12 May 2009 2:12 PM by Click1958 Star rating. 17 posts Send private message

medsea are so definitely 'over' surprise surprise !..I spoke to Zimmerman Adams today the company in an advisory role for their sell out to Aim Investments PLC who basically are the old Medsea Managment as they confirmed - and what a track record between them - see the RNS report !

They were not helpful of course in providing me with Tony Gatehouses's personal address ...never mind I have it now if anyone else wants it e.mail me. ...I think he could be getting a few visits !  They advised that the old directors would be responsible for any monies owed...what a surprise ....





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13 May 2009 12:07 PM by 4sbo-spain Star rating. 3 posts Send private message

Hi,

I'd appreciate that home address please? They owe me and thousands of others a lot of money and I intend to get it back. You're right about the Track Record, what a Motley crew they are.

There are various spin off business that have emerged from the Ashes of Medsea, most are run by the Honest ex members of Staff just trying to make a living. If anyone has issues and needs aftersales or any other advice, please email me and I'll see if I can  help.

Regds

Neil (at)4salebyowner-spain(dot)com

 

 





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13 May 2009 4:55 PM by SteveBodd Star rating. 1 posts Send private message

Hello 4sbo-spain or anyone else - PLEASE can you help...

I have already got my property/keys/deeds etc and am happy. had for couple years now.

BUT...

i had slight problem and an engineer had to get into my house, so i gave my spare keys to medsea and then the engineer came out and fixed my problem. When i came out in end of March, i went to the medsea torrevieja office and they told me that they would post me my keys to my home address in UK. Now i find medsea have closed.

Surely there are other people's keys they have got, maybe people selling etc etc

i never got my keys in the post, so, How do i get my keys back from them.

its only spare set, so any advice would be helpful.

thank you.





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13 May 2009 8:20 PM by 4sbo-spain Star rating. 3 posts Send private message

Hello Steve,

Sorry to hear of your problems. I would suggest that failing to get any response from Medsea, maybe contact your UK Agent, assuming that you came to Medsea via one? They may still have some form of contact with Medsea, especially if they're owed commissions as most are.

Other than that, I guess get a replacement key cut, or to be extra cautious, change the locks. If you need help sourcing a local locksmith, let me know where you are and I will do my best to help.

Regards,

Neil

 





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19 May 2009 2:53 PM by FairTradeSpain Star rating. 8 posts Send private message

I can confirm Medsea is currently being investigated by The Office of Fair Trading.





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19 May 2009 3:29 PM by FairTradeSpain Star rating. 8 posts Send private message

Dear Mr Gatehouse

Many thanks for your letter of 14 May. It is a long time since I heard from you. I’m delighted of course that your companies are not going into liquidation. Not for the time being anyway. At least not when so many of my clients are still completing and handing over their commission payments to you. When will my company receive the amount you contractually agreed to pay us for the work we did getting you these sales? I understand you haven’t paid your staff for the work they did either, which leads me to wonder exactly where all the money is going? I responded to your letter as you requested with our invoices but have not received a reply. This seems to be becoming a habit. I last heard from your Chief Executive, Juan Carlos Martinez on 27 March this year. I was concerned over three payments that were made to your company without you paying my company. Martinez wrote that he would give me an answer on 16 March but was “really struggling” because Carlos, the accountant was on paternity leave. I don’t believe this, do you? He’s not ‘struggling’ to explain why at all! To begin with: Let me tell you what ‘struggling’ is, Mr Gatehouse. It is your loyal staff’s will to survive when you don’t pay their wages and they are too afraid to ask for them in case they loose their jobs. It is the dignity they’ve maintained while they’ve struggled to put food on their family’s table; forced to go to the courts for either basic pay, redundancy or both.
 
I managed to pay my staff their wages and statutory redundancy, Mr Gatehouse even without your money! That was a struggle too.
 
Struggle is what your consultants have to do when you promise them you will pay them: And then don’t. Struggling is what happens to businesses that have to pay their staff and creditors on the back of empty promises. I daresay that you won’t have had much time to speak to the litany of broken businesses and families you are leaving behind, hence your letter.
 
You say the lack of information was due to the legal restrictions of the AIM rules. I disagree. Your chief executive has overall responsibility for the day to day management of the businesses. It is his job to supply me with this information when I ask for it.
 
You also say that you rejected the ‘easiest’ option of going into liquidation because it may have disadvantaged your creditors and promise that all the monies collected in Spain are to be “distributed as you receive it”. Distributed to whom? And can you give me a list of the benefactors?
 
But, I’m glad you’ve had the opportunity to remind us of the ongoing legal action to secure our commissions in Italy. Few of us had been aware it had actually started.
 
May I finish by adding that what your letter lacks in substance and certainly remorse, it makes up for in delivering the essential advice that taking legal action against you or your companies will be a lengthy and costly process. Thank you. Fortunately, many of the agencies, like the Department of Business (DTI), HM Customs & Excise and The Office of Fair Trading are not making any charge for their services.
 
Garry Cobb
Director
Let’s Live Abroad! Limited




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20 May 2009 7:45 AM by Click1958 Star rating. 17 posts Send private message

Good on you Fair Trade Spain .

I will pursue Medsea relentlessly I can assure you. In fact I am fully intending to pay Tony Gatehouse a visit at his home in Horsham in the near future . For pure personal satisfaction.

I will contact the Office of Fair Trading , DTI and HM Customs and EX.

 

Thanks for posting this letter.





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22 May 2009 5:19 PM by LocationsinSpain Star rating in San Juan de los Terr.... 16 posts Send private message

LocationsinSpain´s avatar

This is an open letter to Tony Gatehouse

Dear Mr Gatehouse

Thank you for your letter dated 14th May 2009.
 
It is a long time since we heard from you.
 
We too, are pleased to learn that your companies are not going into liquidation. Not for the time being anyway. At least not when so many of our clients are still completing and handing over their commission payments to you. When will our company receive the amounts you contractually agreed to pay us for the work we undertook to achieve these sales for you?
 
Furthermore, I understand you have not paid your own employees for the work they did on your behalf, which leads me to wonder exactly where all the money has gone.
 
Like the previous Agents on this forum, and I don't doubt there will be more, we responded to your letter as you requested with our invoices but have not received a reply. This seems to be becoming a habit.
 
We have heard from your Chief Executive, Juan Carlos Martinez in the past and he knows we are concerned over non payment of commissions despite this money being handed over to you.  You should have handed this money over to us immediately, not kept hold of it to support your own flagging businesses.  
 
We sent you many inspection visits clients, subsidising flights and incurred our own overheads.  We are not a charity although I believe you must think we are. 
 
I can tell you Mr Gatehouse that we are not going to go away.  If someone owes this company unpaid commissions we take legal action so you can expect a knock on your door any day now.  We have had successful conclusions to two legal cases brought against debtors this week so we are definitely on a roll!
 
You say the lack of information was due to the legal restrictions of the AIM rules. I disagree. Your chief executive has overall responsibility for the day to day management of the businesses. It is his job to supply me with this information when I ask for it and so far he has not been able to tell me our cheque is in the post.
 
You also say that you rejected the ‘easiest’ option of going into liquidation because it may have disadvantaged your creditors and promise that all the monies collected in Spain are to be “distributed as you receive it”. Distributed to whom? And can you give me a list of the benefactors?
 
But, I’m glad you’ve had the opportunity to remind us of the ongoing legal action to secure our commissions in Italy. Few of us had been aware it had actually started.
 
I also caution you to make sure that all those people who trusted MEDSEA/ITALIAN CONNECTION and bought property in Calabria through Agents such as ourselves, are treated fairly.  As you know there are many question marks as to whether some of the properties will ever be built despite clients paying 50% of the value upfront.  Be honest NOW and if you cannot deliver, then you should show integrity and give them back their money immediately.
 
People always say, there is no such thing as a free lunch.  Well, you did provide 5* hotel accommodation in Calabria for hundreds of inspection visit clients, and royally wined them and dined them, but none of us ever imagined their introduction to Calabria would cost them all of 50,000 euros a throw.  Life savings, inheritance, youngsters trying to get on the property ladder, retirement funds - this is where the money is coming from.  These are people who have struggled to get their money together.  Do you know the meaning of struggle Tony, with your fine homes in Spain and Horsham, West Sussex.
 
You further say and I quote ''regarding Calabria, Italy, our ex General Manager has formed a new  company with our blessings.  Jaime has promised to look after the  old Italian Connection clients and complete the after sales in Calabria''.  This is not good enough. We sold on the basis that MEDSEA/ITALIAN CONNECTION would provide an after sales service. 
 
Integrity?  Do you know what it is.  Where are you now, certainly not providing the promised after sales service.
 
Calabria is a lovely region and unfortunately I think its reputation is slowly being ruined by your antics.  Come clean, cash in your investments, sell your homes and pay us all what you owe.
 
May I finish by adding that what your letter lacks in substance and certainly remorse, it makes up for in delivering the essential advice that taking legal action against you or your companies will be a lengthy and costly process. Thank you. Fortunately, many of the agencies, like the Department of Business (DTI), HM Customs & Excise and The Office of Fair Trading are not making any charge for their services.
 
R Powell
Director
Locations in the Sun
 
 


_______________________
Living and Work in San Juan de los Terreros.



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23 May 2009 2:45 PM by LocationsinSpain Star rating in San Juan de los Terr.... 16 posts Send private message

LocationsinSpain´s avatar
Basically Gatehouse and Rodriguez have sold out for 1 euro (!)
The website http://www.medseaestates-ir.com, will remain live and direct traffic to the new website for the foreseeable future.
Full details below



RNS Number : 9833R Medsea Estates Group PLC 08 May 2009


8 May 2009

Medsea Estates Group plc renamed AIM Investments Plc on 8 May 2009

('the Company')

Change of Adviser, Restoration of Trading to AIM, Change of Name and other key strategic changes

The Company has appointed Zimmerman Adams International Ltd as Nominated Advsier and Broker to the Company with immediate effect. Following this appointment, the ordinary shares of the Company will be restored to trading on AIM at 7.00am on Monday 11 May 2009.

Following the recent Extraordinary General Meeting ("EGM") on 30 April 2009, the Company has now entered into arrangements as set out below.
Summary of Disposal

The disposal of a material subsidiary, Medsea UK Limited, falls under AIM rule 15 resulting in a fundamental change to the business of Medsea. Medsea UK Limited is the holding company controlling the assets and liabilities of the group located in Spain and Italy.

The disposal has been made for the consideration of 1 euro from the directors of the Company, Tony Gatehouse and Juan Carlos Rodriguez ("Executive Directors"). In addition, deferred consideration of an amount equal to 15% of capital and income distributions attributable to Medsea UK Limited's shareholdings in three development Properties will be paid over a period of 5 years from the date of the disposal, reducing after the five year period to 12% in year 6, 9% in year 7, 6% in year 8 and finally 3% in year 9.

The deferred consideration will be paid to a new entity to be set up specifically for the benefit of shareholders exclusive of the Executive Directors, thereby leaving the holders of 13,740,472 ordinary shares to benefit from the possible deferred consideration. Moreover, the Company will have audit access to Medsea UK Limited for the Deferred Period and in the event of any dispute regarding valuations then both parties have agreed to be bound by the decision of an Independent Accountant.

Following the disposal, the Company will effectively be an investing company with no operations. The Company has adopted a new strategy ("Strategy") to invest in profitable companies in emerging economies in particular from Brazil, Russia, India and Asia. The Company will seek to complete a transaction within 12 months that may result in a reverse takeover as defined per AIM rule 14. The Company will seek consent of the shareholders on an annual basis to renew or change the Strategy. The Company will seek to invest in a passive capacity. The incoming directors (as noted below) will form an investment committee to review opportunities and associated due diligence in advance of progressing specific opportunities.

Change of Name

To emphasise the change of strategy, the Company has now been renamed AIM Investments plc. The Company was renamed AIM Investments plc on 8 May 2009 upon the successful registration at Companies House.

Status of Acquisition

The Company indicated in the circular dated 7 April 2009 that it intended to acquire a fund management business in order to implement the new strategy as outlined above. The Company has not entered into a binding agreement to acquire any business nor does it have the requisite funds to pursue any acquisition currently. However, the Company will seek to raise further funds in order to implement its investment strategy. The Company cannot currently confirm the number nor the price of any new issue of shares that may be necessary to implement the Strategy.

Resignation of the Executive Directors

Tony Gatehouse and Juan Carlos Rodriguez have resigned from the Company following the Disposal to make way for a new board of directors that will seek to implement the new strategy.

Appointment of New Directors

The following directors have been appointed following the EGM and have agreed to waive their director fees indicated in the EGM Circular until further notice.

Andrew McEwan Meikle: Chairman and Executive Director (aged 50)

His directorships (current and held within the previous five years) are as follows:
Current Past
The Treatment Centre Company Plc Catalyst Investment Group Limited
Maji Capital Partners Limited Drugtreatment Holdings Limited
Topshore Limited Iberian Property Services Limited
Maji Capital Partners Group Plc The Steam Train Company (UK) Limited
M Squared Equities Limited Global Golf And Leisure Plc
Argos Sol Limited Ultrasound International plc
Sa Torre Development Limited
Fit Stop Limited
Fit Stop Health Clubs Sutton Limited
Limitevery Limited
Limitforce Limited
Cosmopolitan Life Centres Limited
Valley Schools Ltd
Red Moon Investments Ltd


Andrew Meikle was a director at the time, or within twelve months, of the following companies going into receivership, compulsory liquidation, creditors' voluntary liquidation, administration, company voluntary arrangement or composition with creditors generally or any class of its creditors: Fit Stop Health Clubs Sutton Limited Fit Stop Health Clubs Southampton Limited

Fit Stop Health Clubs Southampton Limited went into liquidation on 14 September 2001 owing creditors £854,253.88

Fit Stop Health Clubs Sutton Limited went into liquidation on 26 November 2002 owing creditors £311,395.00

Alexandra Eavis: Executive Director (aged 30)

Her directorships (current and held within the previous five years) are as follows:
Current Past
Leone Services Limited Ultrasound UK Limited


Infinity Corporate Finance Limited Topshore Limited
Maji Capital Partners Group Plc The Steam Train Company (UK) Limited


Alberto Gil: Finance Director (aged 47)
His directorships (current and held within the previous five years) are as follows:
Current Past


The Investment Trading Company The Treatment Centre Company Plc Limited
Premium Depth Limited Medsea Estates Group Plc
B Fresh Limited
Double Carbon Battery Company Plc
Double Carbon Batteries Limited
Eastern European Ventures Plc
Turnaround Capital Consultancy Plc
Warmways Homecare Limited
Medsea Promotions Ltd
The Entrepreneurs Club (Birmingham) Limited
The Entrepreneurs Club (Central London) Limited
Gilbert Ali & Co Limited
Valley Schools Group plc
Red Moon Investments Limited
Warmways Holdings plc
Valley Schools Limited
Valley Schools Mancetter Limited


Alberto Gil was a director at the time, or within twelve months, of the following companies going into receivership, compulsory liquidation, creditors' voluntary liquidation, administration, company voluntary arrangement or composition with creditors generally or any class of its creditors: Warmways Healthcare Limited Cheers UK Limited

Warmways Healthcare Limited (4363544) went into liquidation on 28 July 2005 owing creditors £686,230.59

Cheers UK Limited (2962285) went into administration 29 July 1998 owing creditors £3,305,000.

There is no further information to disclose under schedule 2(g) of the AIM rules for Companies.

Loan to Medsea and working capital

Maji Capital Partners Group plc ("Maji Capital"), a company connected to the new directors, has provided a loan of £120,000 to the Company so that the creditors of the Company are repaid within the terms set out in the EGM Circular. The loan will be repayable on demand after 12 months and will be non interest bearing until duly demanded and will accrue on a daily basis at an annual rate of 5%.

Moreover, Maji Capital has agreed to provide working capital of up to £150,000 to the Company for a minimum period of eighteen months. The obligation to provide the working capital facility has been guaranteed by two of the new directors, Andrew Meikle and Alexandra Eavis. The working capital will be drawn down where necessary and until such time as the Company raises funds for general working capital.

The above are deemed related party transaction as per the AIM rules. John Frankland, the non executive director of the Company, is a shareholder of Maji Capital, therefore is not deemed independent. However, the Company having consulted its Nominated Adviser, confirm that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

The Company intends to appoint an Independent Director in the near future and will advise shareholders accordingly.

Directors' interest in the Company

PDT Holdings Limited, a party connected to Andrew Meikle, one of the new directors of the Company, has acquired 64,238,940 ordinary shares (the "Sale Shares) representing 82.38% of the current issued share capital of the Company from Tony Gatehouse, Catherine Gatehouse and Juan Carlos Rodriguez Martinez all of whom were previous directors of the company. The price of the Shares acquired by PDT Holdings Limited will be 0.18p per share payable by issue of a deferred loan note redeemable after 1 year without interest. The acquisition of the Sale Shares is deemed to be outside the jurisdiction of the Takeover Code as the Company was a controlled outside the jurisdictions of the Takeover Code at the time of the transactions.

Takeover Code

The Company has consulted The Panel on Takeovers and Mergers regarding the Company's status for the purposes of the City Code on Takeovers and Mergers. The Company understands that the resolutions proposed at the EGM are not subject to the provisions of the Code. However, following the Disposal, adoption of new strategy and change of Directors the Company will become subject to the jurisdiction of the Takeover Code. Therefore, all shareholders with effect from today will be afforded protection by the City Code

Change of Website

The Company has a new website address, www.aiminvestmentsplc.com. The former website, www.medseaestates-ir.com, will remain live and direct traffic to the new website for the foreseeable future.
Andrew Miekle/Alexandra Eavis/Alberto Gil 08702 701 111


AIM Investments plc www.aiminvestmentsplc.com
Zimmerman Adams International Ltd 020 7060 1760


Ray Zimmerman/David Newton/Jonathan Evans Media enquiries: Threadneedle Communications 020 7653 9850 Alex White/Josh Royston

This information is provided by RNS The company news service from the London Stock Exchange


END


_______________________
Living and Work in San Juan de los Terreros.



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