In 2004, UKSA Setstone became a shell after exiting from its unsuccessful "dotcom" business. It was later delisted from AIM. It sought a business partner for a reverse takeover but despite loaning over £1.6 million to two such businesses no such agreement was concluded and the loans remain outstanding.

In the Report & Accounts that were published at the end of 2005, and at the AGM on the 15th December 2005, certain information was disclosed which may have surprised many shareholders. A report on the meeting and some more details are present in the following document: Setstone_Article. Note that the last Report & Accounts are present on the company's web site at: www.setstoneplc.com

The following letter was sent to all Setstone shareholders by UKSA in February 2006: Mailer_011_Setstone and the following press release issued: Press027_Setstone. Shareholders who responded to the mailing were sent the following letter that contains more information: Setstone_Response_Letter. They were also sent the following letter in April 2006: Setstone_Response_Letter2.

In November 2006, prior to the AGM, the following letter was sent to shareholders: Setstone_Response_Letter3. A report on the AGM is present in the following file: Setstone_Response_Letter4. The resumed AGM took place on the 7th March 2007 and a report on it is contained in the following file: Setstone_Response_Letter6 .

Note that Tony Hoskinson, the prime mover at Setstone, is also involved in the affairs of Consolidated Africa Mining (formerly named Energy Capital and ASAP International). This appears to be a similar situation where a "shell" company undertook a reverse takeover of an existing mining business after a major fund raising, and in this case then relisted on Plus Markets.

The following letter was sent to shareholders prior to the AGM in December 2007 (called for the 28th December): Setstone_Letter7. A report on the AGM is present in this file: Setstone_Letter8.