Investor Update: Disinformation by Former Senior Management Continues
21 June 2017 - United Cacao Limited SEZC (“UCL” or the “Company”), the cacao plantation company headquartered in the Cayman Islands and operating in Peru, provides the following update. Regrettably, certain former members of UCL management have not fulfilled their contractual obligations to deliver to the Company all documents, books, materials, records, and other information relating to the business or affairs of the Company in their possession or under their control. Prior management has not properly completed the transfer of digital and physical copies of bank statements, financial records, board resolutions, and other information salient to the operations of the Company. In addition, it would appear that a former director and/or member of management has retained unauthorized access to the Company’s social media accounts and has been directly or indirectly posting misleading and erroneous statements on Facebook and Twitter. These actions seem to be consistent with an apparent pattern of obfuscation and disinformation by certain former managers that continues to impede the board’s ability to stabilize the operations and efforts to strengthen the finances of the Company. The legal departments of Facebook and Twitter have been notified accordingly, as have the Serious Fraud Office, AIM, and the Financial Conduct Authority.