RE: Tax23 Apr 2023 13:44
re CTAG exiting AIM, perhaps worth glancing
back at the RNS history of 6 years ago…
of note, cloudtag did not dismiss its nomad, cairn, nor decide not to
renew cairn’s contract. rather, RNSs very clear that cairn served notice
on cloudtag that the nomad was resigning. initially the company said
in feb 2017 that cairn would be resigning in april 2017, but then cairn
actually quit only a few days later, after cloudtag admitted that there
had been “miscommunication’ [*cough*] between cloudtag & novum, &
had to cancel the previously announced placing. back in 2017, cloudtag
was stating in RNS that it was in “advanced discussions” to get a new
nomad, & was “optimistic” that it would achieve that. so occam’s razor
is pretty obvious on that, imo, cloudtag was kicked off AIM because it
could not manage to find a nomad who was prepared to work with it,
rather than making a deliberate and strategic planned exit from AIM.
back in the mealy-mouthed final results RNS of march 2017, the company
admitted with risible understatement that there was “room for further
improvement” of its corporate governance, & said it would be “seeking to
appoint additional directors in the near future”. ? how did that work out?
- cloudtag’s current website only lists CEO amit as a director, no others…
(but of course i appreciate that current holders won’t mind any
of that if they receive their cash share of amit’s quarter billion
pounds on, or indeed before, may 5th. not many sleeps to go!)