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DJ IRW-PRESS: Petrocapital Resources PLC: Fastlane Financial Advisory: PETROCAPITAL RESOURCES PLC BOARD SUSPECTED OF WRONGDOINGS Fastlane Financial Advisory: PETROCAPITAL RESOURCES PLC BOARD SUSPECTED OF WRONGDOINGS Zurich, March 2nd 2010 Investors in Petrocapital Resources PLC, PCR, a UK PLUS Market quoted company, have been watching their investment capital erode since September 2009. "We assisted in raising Millions of Euros in development funds for PCR in mid-2009", comments a spokesperson for Fastlane Financial GmbH, a Swiss based financial brokerage firm. "Manoli Olympitis, its Chairman, together with his puppet board of directors have deliberately inflicted serious damage to a once promising investment company by ousting its trusted founder and COO who were instrumental in creating the company and the reason we were able to attract large institutional investors. By fabricating a web of unsubstantiated shreds of circumstantial evidence, Olympitis alleged a Rule 9 breach by a series of shareholders as far back as September of 2009 to the UK Takeover Panel. A ruling is still outstanding. Representations made in connection with these allegations are factually incorrect and include defamatory and accusatory statements against shareholders. Various shareholders have retained UK legal counsel to defend their positions. Olympitis has absolutely no experience in the oil and gas sector and has invested only a fraction of the EUR 7 Million+ funds raised by us and our associated investors in now almost one year. It is furthermore disturbing, that US$ 1.75 Million (less than 20% of the capital raised by investors to be invested in lucrative oil and gas prospects) were dumped into a little known oil development play owned and promoted by a personal friend of Olympitis without having obtained proper independent third party valuations. The board has clearly failed to represent the interests of investors an... Weiter
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