Member Info for Nicktheshred

I called and emailed Utilitywise offices yesterday to query any news behind the 25% drop in share price and to see if there's any truth on the mass redundancy rumors. Here is the response from a chap called Craig Wright:

"Utilitywise is a profitable business with exciting future prospects. We have a clearly stated Strategy for Growth which will create significant value for our shareholders. As Utilitywise is an AIM listed market leader, the decrease in our share price was inevitably going to draw attention, however the reasons for the share price fall are clear and in the public domain (a major shareholder disposed of their holding and as those shares are traded, we see a short term impact on share price). We remain focused on and committed to our growth initiatives with the launch of business insurance, Utilitywise Payment Services and the introduction of a new brand in EIC happening in this month alone."

Take from it what you will although the investor relations team are hardly going to tell me the company's finished.