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PLEASE NOTE: THIS ASSET DATABASE IS NOT YET COMPLETED
THERE IS A BANK RECONCILLIATION ONGOING DURING APRIL 2025 TO ENSURE THAT ALL PAYMENTS MADE TO & FROM MR MARK NINNIM ARE PROPERLY ACCOUNTED FOR VIA BANK RECONCILLIATION.
IMPORTANT: There are NINE projects with 110 active shareholders across a 28 year period. Therefore there are MANY moving parts in terms of bank statements and finances. Due to the amounts of money involved, it is crucial to ensure the provenance and credentials of each asset building as owned, in part, by the estate of the late Mr Mark Ninnim.
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FAO David Rutherford, Director, From Russ McLean, Director (each project has a dedicated limited company).
Hi David,
The Estate of Mr Mark Ninnim
Mark has a very thoughtful solicitor as the executor arranging probate for our shareholder Mark Ninnim.
I mentioned the “perfect storm” of the first stroke (here, here, here, here and here) plus the November 2024 second stroke (sub judice) at my end, plus your being hit by that Amadan of a car driver and being hospitalised with those bone-crush injuries foot and leg (here, here, here and here) ~ resulting in both directors being incapacitated. The probate solicitor has been commendably understanding.
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So now that we are both back and functioning comparatively well, albeit with the doc., monitoring my 4 hour a day and the post-stroke-fatigue pesky problem, I am very keen to sort out Mark’s numbers.
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David, I had the definitive set in my red notebook but that is somewhere “safe”… so safe I cannot find it!
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Therefore I am putting an indelible audit trail that cannot be lost… onto this discreet page (password protect will normally be switched ON).
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David, PLEASE can you check my numbers/£££~amounts with the bank statements online at your study/computer (I still cannot log onto the bank at this end).
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In fairness to Mark and Nataliya, plus the solicitor sorting out the probate, I’d really like to provide the lawyers with a definitive and double-audited set of Mark’s assets/building ownership by the end of this month.
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Thanks Buddy.
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Here is the working detail as at Tuesday 8th April 2025…
Mark’s Assets ~ Work-In-Progress ~ As At 8th April 2025
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UPS21 = £15,000. Sannox Bay Shop (delayed due to the force majeure of the State owned ferry company CMAL/CalMac taking SEVEN years to build a replacement ship to the island of Arran and Sannox Village. Ironically the new ferry is named: “MV Glen Sannox.” ~ after the glen by the Sannox Hotel! Latest (April 2025) details: Click Here and: Here, plus: Here.
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UPS22 = £10,000. Abbey Studios Business Centre Building. Was being sold as a renovated building with a solicitor leasing the offices. Unfortunately the solicitor seemed to suffer from a widespread problem (here) and had to be “merged” with a larger firm of lawyer due to cashflow problems and has since been removed from the premises. A resultant mini-refurb was required and this building is being readied for relaunch onto Rightmove by summer 2025. Before: Click Here and After: Click Here.
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UPS23 = £5,000. Bay Cottage Planning Permission & Newbuild (85% completed) and with a “For Sale” board onsite. Major hold-up due to the near-collapse of the State-owned monopoly ferry provider to the island: Click Here. Before: Click Here and After Newbuild 85% to completion: Click Here.
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UPS25 = £15,000. Sannox Bay Hotel with Planning Permission (Granted) & Building Warrant (Granted). Includes adding 3 new en-suite bedrooms + staff accommodation + a new Village Shop + a Newbuild Disability Accessible Ground Floor Apartment (Bay Cottage). Plus 4 extra parking bays. Renovation of the hotel is now 85% to 90% complete. Hotel now has “For Sale” boards onsite. Sannox Hotel Photo From Aerial Drone: Click Here.
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UPS27 = £11,000. Noss Head Lighthouse Station The Sequel. Keeper’s Cabin now fully refurbished with a “For Sale” board and active sale marketing in progress. There was a difficulty with a neighbour wanting to buy this property at a very low price.
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Russ McLean, formerly a police officer, was particularly concerned after the FIFTH enthusiastic buyer travelled up to the renovated UPS27 building (near to John O’Groats) and then just dropped their interest. Upon professional inquiries there is now sufficient corroborated evidence against a neighbouring property owner trying to obtain pecuniary advantage in putting other buyers off. Now ten buyer. Wise counsel is being sought from pro bono Advocate (Scottish Barrister). This is to establish whether a civil (or indeed criminal) referral against this miscreant buyer would be in our shareholders’ interests. A vote and consultation is likely to follow. Property UPS27 pictured: Click Here.
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SUB TOTAL: £56,000.
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In order to satisfy Financial Conduct Authority (FCA) PERG rules and not have to become a public limited company (plc) again, we opted for the “Sophisticated Investor” protocol. To purify those conditions, Mark’s estate holds relatively nominal shares in the following….
Unique Property Bulletin Ltd: £60.
Scotslion Ltd: £30.
Real Dragons Den Ltd £30.
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This may only seem like £120 at face value, but the current net asset value of each entity would likely bring their redemption at between £600 and £1,200 for the whole set of nominals.
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With ALL of the above, Mark did give the directors’ a proxy on votes, but we would prefer to take instructions and votes from the Executor in liaison with Nataliya and any other beneficiaries in Mark’s Will.
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GRAND TOTAL: £56,900.
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Last but not least, we BAN mortgages. So all projects are asset-backed and free of debt. All buildings are owned by our members 100% on equity via Share Certificates, and Convertible Bond Certificates.
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PLEASE NOTE: This is still a PRELIMINARY TOTAL and subject to the ongoing line-by-line audit via the various company bank statements.
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In the meantime, if there are any questions, please feel free to get in touch with Russ McLean.
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Due to health conditions and the second stroke, Russ is seldom on the email system: hence this unusual (offline) website page for faster communication than Royal Mail.
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Though TEXT messages still work very well.
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So either telephone or text or Royal Mail will work…
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Landline: 01241 852127
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Mobile & Text: 0757 2768 795
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Post: Russ McLean, 21m Thistle Street, Carnoustie, Angus, DD7 7PR.
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