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Braemar Lodge 2004 Ltd. - Undertaking

Page last updated: 7 Jul 2005

Braemar Lodge 2004 Limited offered participatory securities for subscription in conjunction with individual unit titles under the Unit Titles Act 1972 without a registered prospectus, investment statement or deed of participation. Braemar and the directors(Neil Gurdjieff Dougan, Ernest Ross Thomson) were, at the time of the offer, unaware that the offers had been made in contravention of the Securities Act 1978. 

7 Jul 2005

Enforceable undertaking

In 2005, Braemar became aware that its offers of the units in the property may have constituted offers of securities to the public under the Securities Act 1978. Braemar informed the Commission of its possible breach and offered an undertaking to ensure no further breaches occur.