RE: FCA market abuse investigation26 Feb 2024 18:08
Not 100% correct melanocytes. Glanaco was the warehousing and shipping hub for modernwater, all the staff did indeed think it a strange acquisition. Though there was so many lies and dodgy goings on it was mostly ignored. Like the day a Glanco truck turned up to transport microsaic MiD units across europe with customs paper work declaring them as 'scrap wheel wash parts'. One of the many reasons it was purchased was because DV could take a large grant from enterprise Ireland to purchase it, by claiming it was going to be a manufacturing hub, so getting it on the cheap, Glanaco also had money in the bank and good credit lines. The reason it was sold back for a euro? DV took the cash, ruined the credit line and stacked it with debt to fund other parts of the DV empire. If they treat family like that what chance did the investors and staff have?
@yankee_d1000. modern water and labskin for that matter were basically viable business , MW needed to modernise and LS re focus but the products had customers, they and DV as a whole failed because FM and GB insisted on spending millions of euro on STC and PD respectively long after both had proven to be failures.
As a former employee I am trawling through the RNS's and putting together an email to the FCA pointing out the parts that I know to be lies. I can't prove any of it, so it will likely to come to nothing, but it is all I can do.