Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
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  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Baltic Oil Terminals (PAN)

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Wednesday 15 June, 2011

Baltic Oil Terminals

Statement re. Suspension

RNS Number : 4347I
Baltic Oil Terminals Plc
15 June 2011


15 June 2011



Baltic Oil Terminals Plc


Statement re Suspension of Trading and publication of Year End Accounts



The Board of Baltic Oil Terminals Plc (the "Company" or "Group") announces the suspension of trading in its ordinary shares on AIM as it has now become clear that the Company will not be in a position to send its audited accounts for the year ended 31 December 2010 ("Annual Accounts") to shareholders by 30 June 2011 as required under AIM Rule 19.  The suspension, which commenced at 7.30a.m. today, will remain in place until the Group's Annual Accounts have been announced and posted to shareholders.


The Company's businesses continue to perform in line with management's expectations.  The Company's operation in Rotterdam is 100 per cent let and generating significant cash returns.  As at 13 June 2011, the Group had £1.875 million in cash and, apart from normal trade creditors, has no bank or other debt arrangements.  The Group's financial position remains robust and its operations continue to generate cash in line with management expectations.  


In early 2011 the Company made significant changes to the senior management team at its operations in Kaliningrad, Russia which included the dismissal of a senior employee.  Following these changes it became clear that some of the local financial records had either been destroyed or removed and an attempt made at replacing these with falsified information.


The Directors do not believe that these actions have led to any previous financial information reported to the market proving erroneous, however, the Company has had to conduct an exercise to reconstruct the accounting records at its operations in Kaliningrad based on primary sources of information, in particular the receipts of inventory received into the terminals.  The Directors had expected that this process would have been completed by now.  However, they are now of the view that this process, and hence Grant Thornton's audit of the Annual Accounts, will now not be completed by 30 June 2011.


Following receipt of the initial results of the reconstruction of these accounting records, the Directors remain of the view that the results for the year ended 31 December 2010 will be in line with market expectations.  It is believed that the trading performance and financial position of the operations in Russia are not matters of uncertainty; rather it is the detail of the books and records and their current ability to be audited that is the issue.


A further announcement will be made in due course.



Baltic Oil Terminals Plc

Tel: +44 (0)20 7993 9900

Richard Healey (Chairman)

Simon Escott (Chief Executive)

Arbuthnot Securities Limited

Tel: +44 (0)20 7012 2000

Hugh Field

Richard Johnson

Bankside Consultants

Tel: +44 (0)20 7367 8888

Simon Rothschild


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

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