Helix - additional response to Offshore Alert allegations

Hamilton, Bermuda – November 02, 2016 – In a filing with the Bermuda Stock Exchange (“BSX”) Helix provided an additional response to Offshore Alert allegations. The full filing stated:

Helix Investment Management SLP (“Helix”) confirms that it has received from Privilege Wealth PLC a detailed rebuttal, together with supporting documents, refuting the allegations made in an internet post by Mr David Marchant on 19 October 2016 on website Offshore Alert regarding Privilege Wealth and has received the necessary assurances from Privilege Wealth PLC that resolution of the matter is a top priority.

Privilege Wealth PLC has confirmed the retention of Shraiberg, Ferrara, Landau, & Page P.A. to provide legal counsel in Florida, USA to not only remove defamatory articles from the internet but in addition to prosecute a libel and defamation lawsuit against Mr David Marchant and Offshore Alert. Its UK counsel is similarly seeking a swift resolution within the United Kingdom and have commenced the necessary procedures to have the post removed from the internet within jurisdiction.  

Helix can confirm that Privilege Wealth PLC has at all time serviced its loan and interest obligations to Helix. Helix further confirms that after carrying out rigorous due diligence, including extensive evaluation of the Privilege Wealth rebuttal, actively monitoring the collateral coverage of its loan, conducting regular site visits and receiving daily performance reports, that it can conclude that Privilege Wealth PLC has been unjustly misrepresented by Mr David Marchant. Helix will continue to evaluate Privilege Wealth PLC’s response and business performance. Following our thorough follow up investigations Helix remains fully confident that Privilege Wealth PLC will continue to service and fulfil its loan obligations to Helix.