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Otium Ventures / Hertford International Group

  • BY: Andrew Hore |
  • POSTED: 04/07/2010 |

Shares in failed pre-paid cards supplier Hertford International Group were suspended on 1 July and the company returned to trading as Otium Ventures the next day.

Otium issued is 2009 figures on 2 July and that enabled shares in the shell to start trading again. A change in name does not make the balance sheet look any better. A CVA is expected to pay unsecured creditors 2p in the pound and leave Otium debt free. This makes the 2009 figures little more than academic.

Directors Paul Marks and Paul Seakins appear to have put the the Cheque Exchange acquisition debacle behind them and they are looking for a new business. Marks’ company Aspirant charged £77,000 to Otium in 2009, while Seakins‘ company charged nearly £67,000. It is unclear if this money was paid. 

The shares returned from suspension unchanged at 1.5p a share. That values the shares currently in issue at £730,000. 

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