- Bizarre logo coincidence? Rich Energy and Whyte Bikes
Storey has been told to get back in his box by the Rich investors, there’s a link to the article in the F1 thread
Has anybody done any detective work yet into who Rich Energy’s investors are? I ask because, let’s face it… Any reputable F1 team would have dropped a sponsor like they were hot the moment they got into trouble. The fact Haas haven’t drives enough suspicion as to ask why they haven’t.
In fact, if in time it doesn’t come out that a certain team owner (given serious previous form for tax fraud and witness intimidation) “masterminded” the whole thing, I will eat my hat! His biggest mistake was on choosing a Maverick such as William Storey (and a lack of due diligence regarding the logo), who when suddenly thrust into the limelight by someone else’s dirty money, gets illusions of grandeur and thinks he is suddenly the brains (and the money) behind the operation!
We don’t know it yet, but Storey may have played an absolute blinder by being such a rogue agent and compromising the whole operation!Posted 6 days agoSuiMember
there are some names in this report;Posted 6 days agoSuiMember
On 20/08/2018 the company’s overall number of shares increased to 100 and had a total value of 100 GDP. Where 64% was held by William John Storey (64GDP), 12% by Brandsellers Holding Limited (12GDP), 10% by Charlie Simpson (10GDP), 10% by Robert Lee (10GDP), 2% by Neville Weston (2GDP) and 2% by Lloyd Tunicliffe (2GDP).
On 13 Sep 2018 the shares were sub-devided where the previously owned 100 shares valued at 1GDP each were now numbered at 10,000 shares and were worth now 0.01 GDP earch (vertually nothing). This was done by William John Storey and was sent by Brandsellers Holding Limited.
Rob Lee is the footballer (Charlton), Not sure about Charlie Simpson (could be of boyband fame) no idea who Neville Weston is. oh edit Lloyd Tunnicliffe – insurance geezer i think.Posted 6 days agothisisnotaspoonSubscriber
Low share values is fairly normal for non publicly traded companies. They have to have a nominal value so most will be something like £1 or 1p each.
That paragraph doesn’t explain the change to 10,000 very well, did they just divide them up evenly to make selling small portions easier, or did they dilute the shares, I.e. does the investment company now own 9912 shares?Posted 6 days agodanposs86Member
— Rich Energy (@rich_energy) July 12, 2019
Is ‘wrestle control’ really legal jargon? From a company with no internet presence and onyl been around a year.Posted 6 days agonicko74Member
That letter seems a bit… off. “Wrestle” control being part of it (“wrest control” is the more usual term); the gmail address, the use of “they” to refer to Storey etc.
It all sounds a bit… less than totally professional, tbh, like you slipped the law firm intern a fiver to mock up a letter.Posted 6 days agodangeourbrainSubscriber
Completely opinion obviously but, given the money involved in f1, wouldn’t you expect hass to be using a slightly more established firm than one that’s only been about for 18 months and works from a residential* address?
*There’s 20 business records at 81 Elizabeth Street, some dormant, and 2 at 85.Posted 6 days agota11pau1Subscriber
This might be interesting reading, Jalopnik have also done some “digging” 😉😁Posted 6 days ago
Posted 6 days ago
Whyte Bikes have not been paid the £35,416 due to them from Rich Energy, William Storey & Staxoweb. They have indicated they are now going to take appropriate action, including court applications to wind up RE, Staxoweb and petition for the bankruptcy of Storey. #F1 #BritishGP
— Thomas Maher (@thomasmaheronf1) July 12, 2019
Completely opinion obviously but, given the money involved in f1, wouldn’t you expect hass to be using a slightly more established firm than one that’s only been about for 18 months…
Mr. Courtenay-Stamp seems v. experienced though. Has previously been involved with Stewart and Jag F1 (who became Red Bull!) if it’s the same chap.Posted 5 days ago
Captain Caveman has met with himself again.
Posted 5 days ago
Following a board meeting of Rich Energy Ltd chaired by CEO William Storey and in light of the treacherous conduct of minority stakeholders the exclusive rights to distribute @rich_energy have been transferred to another company. Mr Storey retains complete ownership #RichEnergy pic.twitter.com/TXC8v8zM0v
— Rich Energy (@rich_energy) July 13, 2019
Surely those ‘rights’ only apply to distribution, whereas the court finding was against the company/product
Either way, it looks a lot like Storey trying to squirm a way out of the impending shitstorm. Only thing is, I don’t think he’s either clever enough, or able to hire anyone clever enough, to get out of it.Posted 5 days ago
@HaasF1Team love @rich_energy so much (we don't blame them as #betterthanredbull ) they have kept our brand livery on the car even after we sacked them for poor performance! #RichEnergy #F1 #BritishGP2019 #business #worldclass #onyerbike #nobull pic.twitter.com/dN2RdMMitX
— Rich Energy (@rich_energy) July 13, 2019thisisnotaspoonSubscriber
Hass must be talking to the minority shareholders over Storey’s head to keep the money flowing in the hope that they can oust Storey (maybe by buying the assets of Rich energy once it’s wound up).
Noob question, do we know if it’s likely that Storey put in 64% of the capital or is his 64% the brand/idea and all the other shareholders are bankrolling it? I.e. if funding was cut off would Storey/Rich quickly go bankrupt?Posted 5 days ago
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