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.

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We store and use information you provide as follows:

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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.

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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.

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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.


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Oak Holdings PLC (PIRI)

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Friday 23 December, 2011

Oak Holdings PLC

Trading Statement

RNS Number : 6223U
Oak Holdings PLC
23 December 2011


23 December 2011

Oak Holdings plc (the "Company")

Trading and strategic update and update on suspension


Oak shares were suspended from trading on AIM on 21 October 2011 as a result of the financial uncertainty caused by the sudden and unexpected termination by Rotherham Metropolitan Borough Council of the Company's contract to manage the Rother Valley Country Park ("RVCP") which was Oak's primary source of revenue.

Since then, the Oak Board has reviewed the contract to manage RVCP and has taken legal advice with a view to ascertaining whether it may be entitled to compensation from Rotherham Metropolitan Borough Council in respect of contractual and other matters arising from the early termination of the contract. The precise amount of the claim is not yet certain and, accordingly, there is no certainty as to the outcome.

Oak is currently generating insufficient working capital and has insufficient available resources to meet its existing and ongoing liabilities and has therefore sought assistance from third parties. In November and to date in December, the Company and its subsidiaries have drawn a series of small secured loans from a group of lenders led by Yorke & Hartford Limited ("Y&H") which total £36,135.  Other lenders include Mr Uday Nayak and companies associated with him.   This lending group has previously lent the Oak Group a net aggregate of £208,606 (excluding accrued interest) which remains outstanding.  On 8 November 2011 Oak Heritage Limited, which owns a refurbished Hispano Suiza motor vehicle and one in the course of refurbishment together with a valuable stock of spare parts, granted an all monies debenture over its assets and undertaking in favour of Y&H on behalf of the lending group in respect of certain loans.  On 21 November 2011 Oak granted a similar debenture over its assets and undertaking (subject to certain previously granted debentures) in favour of Y&H on behalf of the lending group securing all of the loans.  The loans have interest rates of, generally, 7% per annum or 11% per annum and have various short maturities and negotiations are under way to extend these.    Further loans may be sought from the lending group, but there is no commitment by the lending group to provide any further funds.

Concurrently, the Board is exploring opportunities to stabilise the Company and to provide the Company with a new strategic direction including the acquisition of additional business interests. Two potential such opportunities are currently under consideration although neither is yet at a sufficiently advanced stage to provide shareholders with details, nor is there any certainty that either proposal will proceed. The Board will continue to seek a basis on which these opportunities can be progressed. 

Whilst the financial position of the Company remains unstable and its future uncertain, the Company's shares will remain suspended from trading on AIM. Shareholders will be kept informed of any further developments.



Oak Holdings plc

Michael Woodcock


Tel: 020 7493 5522


Nominated Adviser to Oak Holdings plc

Cairn Financial Advisers LLP

Tony Rawlinson

Tel: 020 7148 7900



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

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