STEPHEN COX'S SECRET ALTERNATIVE OFFSHORE MORTGAGE COMPANY DRAGONFLY FINANCE S.A.R.L. FINANCIAL NETWORK UNCOVERED - Campaigning Letters Delivered Today Dear Black Cap Pub Supporters You might be forgiven for thinking that anything to do with The Black Cap and mystery offshore financing is starting to sound a bit like Groundhog Day. Was it all not fully exposed in the Ham and High and Stuff articles the other week? But bear with us! Perhaps get a coffee then come back to read fully. There was a development we held back whilst awaiting Mr Cox's promise from two weeks ago to urgently rebook his deferred (at 3 hours’ notice) meeting with Camden Council and ourselves to crystallise and continue discussions. To date, he hasn’t proposed new dates, hasn't apologised, and in fact hasn't been in touch with us at all. Frankly, we would far rather be talking with you about our exciting vision for a re-opened Black Cap, and we hope this new step moves us a long way forward. We think it will. This was the new development. Previously, Vollin Holdings' Alexanders Abramov and Frolov had been pressurised by Putin to return their wealth back to Russia, and needed to get their mortgage out of the pub. They resigned their shareholding in Kicking Horse Ltd (Jersey) in October 2013 apparently as a result of the Moscow request, but they could not get their stake returned unless another mortgage company stepped in to buy theirs out. Another secret offshore investor, Luxembourg based Dragonfly Finance S.A.R.L,, had also provided a mortgage of some sort for The Black Cap alongside Vollin, and in January 2016, they bought out the entire Vollin stake. What was notable was that when they did this, they could not deny that at the time they knew about the strong campaigning going on to get the pub re-opened for the LGBTQ+ Community. It would have been noted as a material risk. This mortgage deal was signed just after Ruth and Robinson had signed a 25 year lease to change the pub to Hollenbecks. As you know, with your support, the Black Cap Foundation campaign successfully persuaded Ruth and Robinson to un-sign it. We are told the mortgage is in good standing, but R & R certainly didn't make many of the monthly payments. Further robust investigation, helped again this time by a European whistleblower (Europeans in tax haven countries are just as concerned as we are about offshore money), uncovered some names. Much more digging, resulting in 424 pages of saved evidence, turned up all of the names of a financial network based in Luxembourg, controlled in London, with Investment Managers and persons of significant responsibility also based in London and Northern England. Then the evidence turned up the UK, and one European, shareholders of Dragonfly, which was a real surprise to us as they included four respectable company pension schemes, and a well-known investment company. They had invested indirectly. We do not believe these companies had any idea at all about what Dragonfly and Mr Cox were doing at The Black Cap Pub. They do now. This morning, all parties involved in the investing and management of Dragonfly Finance S.A.R.L. received a detailed letter from the Black Cap Foundation, explaining Vollin’s role in financing Mr Cox's pub closure and conversion program, the damage done to the LGBTQ+ Community, the Black Cap closure, and the Dragonfly January 2016 decision to buy out Vollin with their monies. The letter details Transparency International's report about Vollin as a provider of funds from a high risk jurisdiction country, and mentions Dragonfly's co-involvement. No-one is saying Dragonfly has done anything illegal, but it is a secretive offshore company and the UK Government is becoming concerned about secret offshore funds fueling gentrification and the closure of social assets. Our letter simply asked Dragonfly's shareholders to put pressure on Dragonfly to request Mr Cox re-open the pub sooner rather than later. Nothing more. We suggested to them that they might be concerned that Dragonfly has apparently granted a mortgage to the owner of a pub that is not trading. In our view, we argued, had they intended to see pensioners' money invested in an apparently sub-prime mortgage, though we are told it is in good standing? (Dragonfly have a history of accepting high risk property projects.) We asked that the shareholders reply to us within 21 days. They will know based on the Vollin exposure, how the Black Cap Foundation might act if the silence continues. We now turn to the law of unintended consequences. Whilst we were very specific about what we wanted (pub re-opened to the LGBQ+ Community and we go away), the shareholders may not see it at all in the same light. In all likelyhood our letter will be circulated to the company trustees and legal councils for their opinion. We think that rather than them saying, write to pressurise Dragonfly to lean on Mr Cox, the unintended consequence might be a number of them may be rather more inclined to demand their investment back. Which means that Dragonfly might be prevailed upon to ask Mr Cox for the redemption of the mortgage. Can he get another finance organisation to step in to offer a mortgage on a closed non-income generating pub with a strong 2 year long running campaign against his conversions project going on? Good luck with that. So here is a direct message from the Black Cap Foundation to Mr Cox: Mr Cox, re-open this pub for the LGBTQ+ Community, now, and this all goes away. And the last word to our Campaigners. This is a hugely important week and a big escalation of our campaign. Thanks for your support, being there, and everything you do. Our Facebook membership and Change.org petition numbers keep going up as our campaign grows in strength and effectiveness. Yours sincerely, Zack, Nigel, Chris, Ben, Aoife, and Alex Black Cap Foundation