RE: Tariq's poor timing and poor strategy.6 Jul 2023 09:18
Bluerill why do you say any such conversation would have been on a taped line?
I think it highly unlikely it was a taped line there is no evidence that any advisor was present on the call to ensure there were no breaches of MAR , reportedly just BT The Chair LOAM and RG why would they record it, they should have made notes of what was discussed as best practice, whether that was done who knows.by why when an RNS was coming out at 7am that contained no detail save that heads of terms has been agreed was there the need to call certain shareholders and creditors. There is no reason at all…the transaction according to the board did not require shareholder approval it was highly inappropriate and the possibility of there being information exchanged that was not in the public domain was very high.
The conversation happened that is confirmed , it happened at a very sensitive time as an agreement was being reached and the full terms were known.
Maybe the pre arranged conversation at midnight was thanks for making the call , there is an rns at 7am. What’s does it say…oh we can’t tell you. Bye.
What there were earlier calls as the deal was formed over the preceding months or after the initial 7am rns on the 6th ..again who knows, but the relationship with the preferred shareholders ( nb Tariq owned more stock than RG at this juncture and didn’t get the call !) was such that one has to believe there was very close communication between these parties to consider such a midnight call.
Because the FCA has not acted yet i would read nothing into , they move very slowly and i have no idea when Tariq contacted them with his evidence..or whether he has at all yet.
I contacted the FCA shortly after the settlement as I believed that LOAM could well be considered inside from their board representation less than 6 months before the 6th Jan and would be in possession of information not in the public domain ..i didn’t know at that time that Turcan had been on the litigation sub committee with direct access to all documentation and advise. So i wouldn’t discount any untoward just because the regulator hasn’t moved yet at all.
Sign In
Follow the stocks
