Metro Baltic Horizons plc
In the past year your Board continued to make considerable progress in recovering shareholder
value in the company. The board reached settlements with the Company's previous board and
auditors that resulted in an aggregate cash payment of €3.5m (£2.925m).
In September the board initiated a distribution to shareholders which by year end had resulted in a
dividend paid of €5.1m and a purchase of the Company’s own equity of €0.7m. Post year end a
further distribution of €0.46m and a purchase of the Company’s own equity of €0.08m.
Our focus is now solely on continuing our case against the former advisors to the Company
namely Mr James Kenny, Mr Mart Habakuk, Metro Capital Management AS, Tolmain Advisory
Services Limited, Mr Paul McGuinness, MG Capital Limited and McGuinness Investments OU
and we expect these proceedings to come to trial in early to mid 2016 and the Board remains
confident in achieving a successful outcome at trial.
The Company has currently cash of circa €2m, including restricted cash held with the Isle of Man
Court pursuant to an Order for security for costs or with legal advisors.
The Company does not intend to make further property investments and is further seeking to
contain the ongoing costs of operation. The Board will keep shareholders appraised on the
outcome of these proposed resolutions. As the company is no longer a listed entity we will seek in
the near future to make a grey market trading facility available.
Metro Baltic Horizons Plc
26 August 2015
Perhaps my e mail was answered . Thanks anyway for the update in what is going on with our company . We await patiently for recompense for distress caused by the above mentioned former
Good luck all our legals on bringing such Charlatans to justice .