Shareholders May Bring Class action6 Nov 2013 13:44
06 NOV 2013: Aldenham Canada Acquisition Corporation (Aldenham Canada) announced yesterday that further to the sale agreement announced on November 4, its acquisition of itravel2000 has been approved by the Ontario Superior Court of Justice and the sale has closed.
Aldenham says itravel2000 is part of its strategic, long-term investment in the growing online travel industry.
It's not over
Meanwhile sources tell us that UK shareholders are preparing a class action suit. They have a great many questions as to the sale and how it was handled, and are specifically interested in the shareholdings held by Mark Molyneux and Nigel Jenkins, Chris Howell and others.
A petition is also be filed with the UK government.
We will update readers on developments as they happen.