Mystery27 Jun 2017 13:03
Delistings are never good news and a buy-out offer would probably have smoothened the ruffled feathers. Then again other AIM companies have delisted in similar or worst manners with far less backlash. What makes Fusionex different from the rest? LSE and AIM have had its fair share of delistings this year and the last. All the dots when added up seem to point towards one word – conspiracy. Its easy to blame the company but all those crime stories always teach us that the obvious target is never the culprit. The penultimate question is always this, who benefits from all these events and news? Like many I thought it’s the CEO at first. Easy target, especially since all the news appeared to focus on him instead of the Company. Heck they even put up large photos of him and talked about him seizing control when the directors called for an EGM. But looking at the man’s background, he’s had his reputation dragged in the mud in the past 1 month alone. Why do that when it looks like he probably spent years cultivating a good reputation? Doesn’t make sense. So I ruled him out. He may be daft, but no one’s that stupid, although he’s probably kicking himself for not getting better advisers else he would not be in this position. Speaking of advisers, I came across quite a number of chats saying Stifel probably shorted the shares assuming the SP would fall after the EGM and that’s why when the price started going up Stifel resigned abruptly. Looks like a good reason why they would resign if they didn’t do so before the announcement to delist. From the announcements, I saw that Fred Walsh is Stifel’s main guy advising Fusionex and before Stifel he was at Panmure, look like he only just joined Stifel, so it probably isn’t easy on him to see the company delist and lose their fees. Sometimes its not the advising company but a person that may have an agenda or interest to benefit out of a situation. The main question in any mystery is always this: who ultimately benefits or who stood to benefit from what happened? Something to ponder.