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Thanks Citypie.
This article was clearly attempting to misconstrue and damage.The fraud is within the FT.
Regulator.....this is what needs to stop in order to restore confidence in the London financial market and to ensure companies with huge potential for the UK don't all end up listed in the States.
Please act.
“In its key observations communicated to the audit committee, EY identified “a reclassification for discounts amounting to £17m” that was corrected by management, said it did not identify any other material misstatements in the revenue, and was “satisfied that the disclosures appropriately describe the classification of revenue and are also in compliance with IFRS 15.”
Another FT hatchet job. Save yourselves the time and just scroll down to the final paragraph;
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https://www.ft.com/content/b367f38d-5b02-4504-a119-857a8b830693
In its key observations communicated to the audit committee, EY identified “a reclassification for discounts amounting to £17m” that was corrected by management, said it did not identify any other material misstatements in the revenue, and was “satisfied that the disclosures appropriately describe the classification of revenue and are also in compliance with IFRS 15.”
To the regulators…..this is the kind of corruption that needs to be stopped, not restructuring of company’s to allow them into the LSE.
The LSE will be empty.
Makes an interesting post ;
"if the city wanted to mess with mm they ramp the **** out of it to ensure the free 35% comes at a huge price to matt and his mates."
Lower the SP goes the easier it is for Matt to scoop up chunks of the 35.
I don't think MM necessarily wants 'control' following a buy out in whatever form it comes albeit he wants to remain involved.
It appears that his main aim is a commitment to keep the 3 divisions together as a single entity as he envisioned and built ,and not have it sliced up by PE vultures.