Goldman Sachs & Marshall Wace29 Jan 2021 11:36
Morning team,
Just popped in for a few minutes before leaving for the weekend. Just to say that I am sending this post over to Redditt this morning, lets see what happens. It was a copy of an email I received last year, which I posted on here, some of you may remember :-
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Dear team,
I am one of the many disgruntled shareholders whom is still invested in your company and I along with many other shareholders have observed in complete horror the destruction in the value of the capital of your company since July 31st 2015 courtesy of Goldman Sachs (GS) and Liberty International.
The 'arrangement' on the said day between the two parties has effectively allowed GS to do whatever they like in the shares of your company without recourse, so much so that the day after the RNS announcement of 31st July 2015 and subsequent media fanfare, GS immediately started shorting the shares of ITV that morning and have done so ever since.
From 31st July 2015 when ITV plc had a market cap of £11.2bn until the close of play on Friday 21st August 2020, ITV plc has effectively lost around £8.9bn in its market value largely due to the financial market antics of GS and its 'shorting' operation.
It seems to everyone that GS can do whatever they like in the shares of your company because of the complex hedging deal they have in situ with Liberty International and can make money largely on the downside and any upside in the share price movement of ITV plc. For them its easy money without a great deal of risk whilst us shareholders have seen the value of our holdings just dwindle away and to the extent that GS could effectively drive the price down even further, where will this end for the share price of ITV plc. 40p, 30p, 20p, 10p ?????
My concern now is that with the cancellation of the interim and final dividends from ITV plc and no indication of when or if these dividends will ever be resumed, then what is the point in remaining a faithful shareholder in your company as we are at the mercy of GS and its hellbent operation in completely destroying the value of your company.
I have seen the value of part of my pension fund slaughtered because of the antics of GS and not because of the conditions of the financial markets and whilst I have yet to write to the FCA and post my frustrations on social media, I thought I would email you first, a heads up if you like.
I will be most interested in your comments before I draft a more official letter to the FCA and raise this topic on social media.
Thank you for your attention to this matter.
Kind regards
Justine
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