I have sent this e-mail to Oriole24 Apr 2024 18:11
“To Oriole’s management,
I write this message demanding an explanation into why Lanstead have not issued an up to date TR1 notification of holdings since;
28th December RNS Number : 1119Y
Please correct me if i am wrong.
Under the Companies Act 2006
DTR 5.1.2R section 1
“Person must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within (or a combination of such holdings) if the percentage of those voting rights:
(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100%”
As under DTR 5.3.2R
“a "formal agreement" means an agreement which is binding under applicable law.”
Since terms were agreed for RNS Number : 8265H
I’d like to quote the below which is taken from Oriole’s website under corporate governance.
“All Directors, management and staff are expected to consistently apply the highest ethical standards to their conduct to ensure that the Company’s affairs and reputation are at all times maintained at the uppermost level. It does not tolerate any corrupt practices.”
It is of my belief and other shareholders. Lanstead are not adhering to the law, that all individuals / entities must adhere to.
I request Oriole make contact with Lanstead, to provide an up to date notification of holdings that they are duty bound by law to inform the market.
It is not acceptable 4 months have lapsed without any update, as this lack of transparency does not form a fair & orderly market!
What does Oriole intend to do about this issue, that many shareholders are angry about? Or do i need to contact the FCA and report a suspected breech of TR1 notification rule breaking, Lanstead may have commited.
I look forward to your reply”
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