RE: Class Action23 Jul 2024 11:04
Hello Lottie, Unfortunately this is AIM and as you know the regulation here is poor. I was a decent holder of a small cyber security company that left the AIM market November 2023. The board in that co had a loan and plenty of cash to grow the company, but failed, after the loan was paid, and the directors received a very generous bonus, there was zero shareholder funds. That co is now private but doing well. The problem here is that the board had no regulation, and went on a huge spending spree, and instead of concentrating on the core business, diversified on borrowed money at high interest rates. The blame here clearly lies with the board, but unfortunately you cannot take a case against people for "Stupidity". I however have no doubt that a previous PM advised JW that H & W would be supported financially at government level. I have also read here about offers for the Co and shareholders believing that in time all will come good for us, I do not think this will be the case. The current loan equates to 54p per share. Currently everything is speculation, so lets see what happens...