Maybe he too was under the impression GOS + SDS would constitute the required RTO and we would have stayed listed. He has a high profile and possibly the de-listing changed his perspective. Obviously that's speculation.
However, as shareholders, I do think they need to be updating us with information if he has left. We are definitely due an update in general.
TGL actually announced on 1st. July that Jamie Ridealgh was being made a main board director:
01/07/2015 07:30 UK Regulatory (RNS & others) AIM Suspension - Touchstone Gold Ltd "The Company's investment in GOS Systems ("GOS"), a security sector focused technology business, is at the core of Touchstone's investment strategy. In the opinion of the Board, GOS has become an important and valuable asset. TGL's recently announced investment in Cambridge Quantum Computing Limited is complementary to the GOS business, as is TGL's investment in Smart Desk Systems Limited. It has now been resolved by the TGL Board, subject to shareholder approval, that: -- any future acquisitions that might be made will be complementary to GOS; -- GOS' chief executive officer Jamie Ridealgh be appointed to TGL's Board as TGL chief executive officer; and -- the Company's name be changed to GOS Systems." http://uk.advfn.com/news/UKREG/2015/article/67529088
That suggested that since his appointment as head of GOS Systems in February 2015 he had been doing well ... which makes it extra surprising that he should have left in October.
He was with the company for 9 months. Of course we are only shareholders so we are told as little as possible by the company. But there is information on the internet if you are prepared to spend time looking for it. I read a lot of misinformed posts on these boards.
I don't know why Ridealgh is no longer with the company, but I was surprised at his appointment. I thought that someone demonstrably entrepreneurial would have been preferable.
There's also plenty of information about Ilyas Khan on the internet.
How much did TGL have to pay to attract a CEO of the quality of Jamie Ridealgh? Quite a good salary I would imagine; it's called the free market.
23/02/2015 15:37 RNSNON Touchstone Gold Limited Jamie Ridealgh Appointed to Executive Team " Former Western Canadian Director of Operations at G4S Secure Solutions brings world-class operational security and commercial experience to Touchstone London, 23 February 2015 - Touchstone (AIM: TGL), the AIM listed investment company today announces that its wholly owned subsidiary TGL Services which acquired GOS Systems ("GOS") in late 2014, has appointed Mr Jamie Ridealgh as Chief Executive Officer. In his role, Jamie will lead the executive team, and the operations, sales, and product development teams. Jamie brings over 15 years of operational security experience, with a track record in the military, governmental, and commercial sectors across the world. ..." http://uk.advfn.com/news/RNSNON/2015/article/65590566
And if the guys at Stanhill were greedy, why did Ilyas Khan leave over two years ago? And why did they arrange the acquisition of GOS Systems so quickly (soon after which another Stanhill's Waseem Shiraz stood down from TGL)?
No small private company in England that I am aware of publishes quarterly accounts, and in my opinion it would be a waste of time and money to do so when TGL is not listed. I would prefer that they focus their time and money on growing the business.
And you didn't even bother to properly read the info. that WAS made available in Ray's AGM report on ADVFN in February, as shown when you were ignorant about the 2017 relisting intention, and yet you are asking for more!!
The company ARE keeping us updated, because we know what is happening, when and why, and that's good enough for me.
Far from making a pig's ear of things, they are doing exactly the right things: e.g. cutting costs, and focussing on sales.
The critical thesis of the Insider Surveillance article was not just wrong, it was bizarre: how can they say that GOS Systems is very good, and is making impressive progress, and yet at the same time say that TGL is very bad ... when the two are in effect the same thing!!
I am also of the opinion that the very negative article from insider surveillance makes very good points about the management here, GOS should have been a great little company bought on the cheap, this lot are making a pigs ear of things...(yes more pigs, cant help but think of pigs at troughs!) Lets see some action for a change, something dynamic, anything!!!!
Yes HH we have had haphazard updates, but I want to see a company that behaves in a professional manor with regular updates with figures, yes figures, and I would also love to know what these guys are actually paying themselves, is that too much to ask? I have has enough of the fantasy land speculation as far as this lot are concerned.
Are there any other shareholders still lurking with an opinion on here as to what is going on here apart from me, HH and a couple of other posters...?
Ideally when we are issued with the new shares, they should have the new website up and running, and they should also issue an update with some figures, even a set of accounts, pigs can fly. Then we will most probably find out why they have been dragging their heels so much and what really is going on.
We have received GOS Systems updates in some form every few months: for example there was the conference call last September, and most recently there was feedback on the 25th. February AGM attended by Ray on ADVFN. However, while quarterly updates may be appropriate when the company is listed and the shares being traded, its not really necessary for a private company.
TGL's 2014 results were due at Companies House by end September 2014, so are now nearly eight months late. But to put that into context, uber successful global concierge company Quintessentially's accounts were recently filed nine months late: "Need that table, ticket, or rare item? Meet Aaron Simpson the upmarket fixer who knows the habits of the super rich By Sarah Bridge for The Mail on Sunday Published: 22:02, 5 September 2015 | Updated: 10:37, 7 September 2015" ... It set up hundreds of businesses, covering everything from wine and fitness to education. That model is being restructured, which Simpson says is why accounts were filed nine months late. ‘Give me a break,’ he says. ‘I’ve waited six months for my tax refund.’ ... While the concierge business has about £18.6 million in sales and makes £1 million in annual profit, these other activities mean the group’s total turnover is £65 million and it makes £4 million a year. ... " http://www.thisismoney.co.uk/money/news/article-3223583/We-tracking-customers-s-valuable-information-Meet-upmarket-fixer-knows-habits-super-rich.html
We know that TGL's accounts have been held up by the Canadian tax authorities, which is beyond their control.
When things are not beyond their control, Stanhill actually move very quickly. Three examples:
2. TGL completed a "substantial transaction" just four months after becoming an investment company on 30th. June 2014. Compare that to a shell like SRO, which has gone years without a deal.
3. Within just several months of being formed by Ilyas Khan, Cambridge Quantum Computing Ltd. had already reached a stage that many university spinouts never get to, i.e.: external funding from a merchant bank (Stanhill Capital), appointment of business development personnel, a designated (and very impressive) website, use of the LSE's RNS news service, and a Chairman of the quality of Sir Nigel Broomfield KCMG. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12166699
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