Brebner Allen & Trapp was finally confirmed as auditor to troubled cash
shell Easier, during a chaotic EGM last week.
The EGM had been called to remove the directors of troubled cash shell
Easier, as shareholders Neville Buch and Gilbert Chalk had claimed that the
company had no auditors in place since Deloitte resigned last November.
Buch and Chalk were also looking for more detail on £5.3m in cash assets that
its directors David Gough and Andrew Milne had claimed was held on bank deposit
out of the country.
The two directors were expected to be forced out of the company by Buch and
Chalk, but instead Gough and Milne stepped down and were replaced by Brian
Copsey and John Strachan, rendering the EGM pointless.
Copsey is a partner at Fulton Partners, the investment company that owns a
third of Easier and in which Gough also plays a senior role.
Last year, the company’s auditors Deloitte stepped down, along with adviser
Beamount Cornish, which led to the cash shell being delisted from AIM.
Easier has so far failed to reconcile the whereabouts of £5.3m in cash which
its directors claim is held within an overseas account. Its latest auditors,
Brebner Allen & Trapp, have not yet signed off its accounts.
Buch told Accountancy Age that, despite problems surrounding the
EGM, the situation looked better for Easier shareholders. He said that Copsey
was prepared to offer shareholders 22p per share in cash, and copsey was set to
provide details of all Easier’s assets.
‘We’re moving closer towards revealing the situation at the company, and
giving shareholders an option,’ said Buch.
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