Mortgage Introducer was informed by an anonymous source last week that Rice has been stipulated as the only shareholder in RAMP despite all the members of the alliance putting money into the company to have equal shares.
At Companies House, under its latest annual return records, Rice is listed as the only shareholder in RAMP.
This follows on from the continued dispute between RAMP and former member c2-Financial over the amount c2 is owed for its shares.
MI revealed last month that David Wylie, managing director of c2, had called in solicitors to contest the amount of money RAMP is prepared to pay him for his shares. It is believed c2 is looking to be paid over £100,000.
However, Rice insisted all members in RAMP are equal shareholders and the alliance was waiting for all its members to get ‘settled’ before also registering them as shareholders.
He explained: “When RAMP was set-up I was given the first share in the company. That’s why my name is down at Companies House. Some members were going through changes so we wanted them to get settled first before registering everyone.”
“If we had done it straight away, lots of amendments would have had to have been made, such as legal paperwork, and it would have caused a lot of hassle. But everyone is completely equal and all the shareholder agreements have been signed,” he said.
Rice added that all the members will be registered as shareholders at Companies House within the next three to four weeks.
Paul Robinson, managing director of Solent Mortgage Services, commented: “John Rice does have some shares in RAMP but the bulk of the shares are owned equally by the ten company members. The shareholdings of the RAMP members are due to appear on the record shortly.”
