HOME
Overview
Aim of the Company
2017 Results
2016 Results
Lance O'Neill and CCCAL Who are City and Claremont?
Shareholder Return
What's the End Game?
Conclusion

Directors

Lance O'Neill
Benjamin Edwards (appt 2016)
Nigel Duxbury (resigned 2016)

Info

About this Site
Financial Performance
The Accounts
Major Shareholders
e-primefinancial Debacle
Relevant Links

Investments

Syntaxis
Calix Limited
MediaZest
Alba Minerals
Andes Energia

Purpose of this Website

The shares of EP&F Capital PLC, formerly the rather infamous e-primefinancial, were suspended from the AIM market on 3rd April 2006 and delisted 6 months later. Unfortunately when a company delists it becomes much less visible and shareholders are often left in the dark as to what is going on with their company. EP&F have not even provided the most basic of websites and the only information shareholders receive is a minimalistic set of accounts each year. The purpose of this website is therefore to document the performance of the company and to provide a degree of visibility and analysis.

We also aim to highlight how the deliberate non-disclosure of a director's obvious connection with an inscrutable offshore vehicle is deeply predudicial to the interests of the other shareholders. We believe Lance O'Neill's undisclosed links with major shareholder City and Claremont Capital Assets Limited has caused a significant financial loss to the company's remaining shareholders.


A Brief Summary

EP&F Capital PLC was formed on September 2004 from the remains of the failed internet banking venture e-primefinancial PLC. At incorporation it was basically a shell comprising around £2 million (42.5p per share) of cash including cash held in a US subsidiary. Ominously the shares always traded far below the value of the cash on the balance sheet and directors, Lance O'Neill and Nigel Duxbury, were able to increase their shareholdings by buying shares at only 25p, an enormous 40% discount. In hindsight this was a massive red flag for existing shareholders since the market was effectively suggesting the directors were far more likely to destroy shareholder value than create it. Depressingly, and perhaps inevitably, this is exactly what has subsequently occurred. For more than a decade since delisting the minority shareholders have been completely disenfranchised as O'Neill and Duxbury have drip-fed the company's cash into companies, often barely solvent, where they have a personal financial interest. Whilst doing this the 2 directors have paid themselves collective annual salaries equating to 4%-5% of EP&Fs' net asset value. Unsurprisingly the net asset value of the company has declined inexorably. It appears obvious from the company's performance over the last decade and more that the business is not even close to being viable. In contrast, for the 2 directors, O'Neill and Duxbury, EP&F has been a veritable gravy-train as we describe here. We believe it is unarguably in the best interests of most of the shareholders (but not the directors) that the company cease trading immediately, winds itself up, and distributes whatever remains to the company's long suffering owners ....more


Recent Updates

26 Jan 2019 - Calix Shareholders. Look who is on the register - CCCAL and Shallotte!

07 Nov 2018 - 2017 accounts. As you were. Directors clean up. Shareholder return zero.

05 Aug 2017 - 2016 accounts released 7 months after year end. Directors the only winners as the farce continues.

1 July 2017 - Accounts due date extended by 3 months. So dodgy. Accounts for year end 2016 now not due till end Sept 2017!

17 Jan 2017 - Lance O'Neill and CCCAL. One and the same? Lance O'Neill strongly linked to the major shareholder.

06 Jan 2017 - Email address for shareholders. Should EP&F be wound up? Voice your opinion.

06 Jun 2016 - 2015 accounts released. Another significant loss reported. NAV craters 14%. The salaries of the 2 directors, Duxbury and O'Neill, now comprise 5.5% of year-end NAV. Most of the remaining cash invested in a 12.5% Syntaxis issued bond.

29 Jan 2016 - Termination of appointment of Nigel John Duxbury as a secretary.

28 Jan 2016 - Appointment of Benjamin Franklin Edwards as a director.

28 Jan 2016 - Termination of appointment of Nigel John Duxbury as a director.

25 Jun 2015 - Accounts to Dec 2014