RE: Inside UK banks’ arms race against fintech start-ups9 Jun 2024 08:36
The reason for the pull back is Garies seems to be selling shares, whether he's took it down to 100m, or selling the lot, been asked/told to sell, who knows, but he's an ex director and with the amount of shares he held, he still had a lot of voting rights within the company, i would imagine the BoD wouldn't be comfortable with this moving forward, I know I wouldn't, whether the BoD can buy at this point isn't clear, I would guess not, but I don't know 100%, but if they bought his shares and then announced an Fca approval it would appear a little dodgy. In a company like this the BoD 'should' be the majority share holders, perhaps that's also their aim, but we just don't know until we are told.