adixxx13 Mar 2017 11:27
I put this over on ADVFN, which I feel is relevant to KNIGELK's post this morning.
The Directors and shareholders of NW1 along with the remainder of the Fitbug concert party are all very much intertwined, being, in the main,a group of highly successful Jewish entrepreneurs involved in the Health Club industry.
Alongside owning the rump of the FITB equity and of course continuing to enable its survival,NW1 holds a Debenture over Fitbug's fixed and floating assets.
It is apparent then that the concert party could exercise full control over this AIM listed micro cap.
The concert party constituents also run a chain of Health Clubs under the Playgate banner.One of these alone,Playgate Regents Palace,making a profit of £1,249,117 in the year ended Dec 2015.
Interestingly the Playgate Group have recently all been brought together,becoming wholly owned subsidiaries of The Healthclub Collection Ltd,which itself is owned and directed by Concert Party members.
Why then,would this very wealthy market orientated clique continue to plough serious cash into FITB yet otherwise remain unconnected except for its shareholdings and providing essential financial support?
For me,they either see the FITB business model gaining sufficient traction to enable profits to be generated,or (as this seems virtually impossible)to introduce a new dimension via the injection of their Health Club expertise,and or,businesses.
The Concert Party are the only ones,imo,who will be cognizant with the prospects for success and shareholders must wait for them to show their hand.
In the meantime FITB seems to be run by a titular BOD who continue to look very disposable.
It remains very questionable why there have not been a series of holdings RNSs,for undoubtedly there have been several recent notifiable amendments,percentage wise,to the shareholders register.