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Erratum is less than balanced in his contrarian points of view, as I have found before.
It wasn't long ago that he challenged me for claiming that I had a significant shareholding in Ince when I only had around 2%. Who knows where he is coming from!
The fact is that after all that has gone on in the past few months it is deeply regrettable that Ince have put themselves in the position of receiving criticism for an event in a restaurant in Cardiff. Whatever the rights and wrongs on the night, what a shame that this was the outcome, given what has gone before. This is a bad situation, which is not insignificant.
Erratum, I can't imagine why you would question my honesty. I know nothing about you and nor do I wish to. Not for your sake, but for others who have seen your ill founded attack on my integrity, I will disclose the facts.
I referred to myself as a significant shareholder (1.75%) and that is because I hold 1,200,000 shares in Ince acquired over the past 18 months. My name is P J Parkinson and if you care to read through the RNSs you will see that I declared my shareholding as required on 29.10.2021. I still hold these shares.
I only mentioned that I am a significant shareholder to reinforce the seriousness of my comments , as from my perspective I have a significant amount at stake in Ince.
I suggest a retraction and public apology from you would be appropriate from you.
TShaw2, thank you for your clear and logical statement which I totally agree with. It seems that Ince are proceeding to purchase a ghost company with very poor prospects. This whole Arden business has revealed what appears to be serious errors of judgement which is very concerning. It seems likely that the time spent in incorporating Arden into the Ince business will end up being a low value or even loss making distraction, in that it will lessen what I had hoped would be a total focus on improving the performance of Ince's core legal business.
We know that a legal firm such as Keystone Law declared, in 2020 and 2021, a gross profit of circa 10% of turnover, so there is huge work to be done within Ince to achieve even 7% of turnover as gross profit.
As a significant shareholder, it feels so frustrating to watch what is going on with a sense of dismay.
TShaw2, your wise words are informative. Thank you.
On several occasions (including today) I have written to the CEO expressing my view that Ince should be focusing all their attention on striving for excellence in their core legal business and avoid being drawn by distractions like Arden. I have stressed there is so much to do to increase the performance of the existing Ince company which is clearly quite a complex operation with low profitability compared to their turnover.
He said in one of the online investor sessions approximately one year ago that he wants the share price to be higher and so demonstrate more respect for the Ince business by investors. He said that to achieve this he believed they needed to keep doing more of the same with Ince i.e. keep improving the core legal business.
As a significant shareholder, I have asked asked him to drop the Arden takeover immediately. Arden is now surely a ghost business and almost worthless, all due to repeated serious errors of knowledge and judgement, with respect to the takeover, at Ince and Arden, with the consequential questions about Ince's professionalism, which may hopefully not be fair when considering their core legal business.
The sooner we exit the attempted takeover and leave this mess behind us the better.