CellOS Software Singapore Shenanigans

CellOS Software Singapore Shenanigans

CellOS Software Singapore Shenanigans

CellOS Software an Australian Company that was planning an IPO is now embroiled in a bitter battle for control.

The ousted management and some shareholders have reported a case of Corporate Fraud and Corruption to the CAD, CPID and MAS in Singapore, as well as to the Authorities -Federal Police and ASIC – in Australia. It is claimed that investigations have been initiated, but no Authority has taken any action until today.

One shareholder claimed that

a few minutes after the EGM vote result was announced in Australia, a group of people raided the Singapore office. They physically threw out the staff, changed the locks and took ownership of all documents. They knew the outcome of the vote before it happened and were standing ready at the door as they had forged the proxy forms.

A police report was filed by the former CEO on that for trespassing and theft, However, no Singapore Authority has taken action.

Shareholders opposed to the Take Over can be reached at [email protected]

The company website is http://cellossoftware.com and is also a good source of information.

This certainly is a bitter battle for control involving thousands of shareholders and millions of dollars. Any information or tips on this developing story can be sent here

There is no hint of any problem on the corporate website, according to that the company is business as usual.

Incorporated on 8th June 2005, in the last three years CellOS Software Limited has become a fast-growing provider of software solutions for the communications industry. The customers CellOS claim to have include large multi-national mobile network operators catering to over 500 million subscribers.

The website claims that CellOS has over 100 employees currently in its Singapore, Australia (Melbourne), and India (Gurgaon and Bangalore) offices, and is growing rapidly and accelerating the development of our solutions portfolio.

The new CEO Kamlesh Patel is a senior technology leader and entrepreneur with a 30-year career in global sales and marketing. He began his career at British Telecom’s Research Labs as a member of the development team creating complex Datacom integrated circuits for telecoms. He subsequently served in BT’s International Mobile mergers and acquisitions team in 1996, leading the network valuation team in a number of acquisitions across Asia. Kamlesh joined Nokia Networks in 2000 as the commercial head of the APAC 3G team where he was involved in winning a number of large deals across Asia. He later assumed responsibility for Nokia’s strategy & business development functions across the Asia Pacific. He was appointed Chief Operating Officer of CellOS Software in 2012 for an initial two years he was removed by the old management, new management appointed him CEO again in 2015.

The CFO is Douglas Reid, he started his accounting career as an auditor with Arthur Andersen. He worked with numerous chartered accounting firms before commencing his own practice in the early 1990s. He merged his practice several years later with a boutique financial services business that expanded into a substantial property fund management business. He was executive director and company secretary for the group. Douglas rejoined CellOS Software after initially being company secretary in 2012.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.