RE: RNS Out - Potential insolvency appointment17 Mar 2020 08:56
I got out of this. But whoever is to blame for this fraud should be very scared. This is different to SXX this goes to the integrity of the market. Full investigation required by the authorities not just company’s own auditors.
It was over anyway but now its really over. what a flipping shame. not that i held out any hope at all. I just feel really sorry for everyone on here. Fred, ffc, KOH, Yellow and so many more. Whose to blame. Everyone. Board JPM government CF, bulletin boards, MMs. Tree shakes, IIs, Trump, Tarriff war, corona, In the end though, we need to look in the mirror and query why we backed this company so heavily. The trolls were just right time after time after time after time. they called it. very disappointing
Also Govt think its fine that we go to the wall while the project continues and has a transformational effect on the region for AA's benefit. Whilst the real early stage risk has been borne by existing shareholders. Govt might need to think again with a no vote.
I think the reason a lot of people are advocating a no vote and administration is subtle. it is not about BOD not getting a payout (although that is very relevant). I think it is more about the fact that if this goes into administration then everything will be INVESTIGATED The press coverage will be enormous. Media TV panorama. Politicians. FCA. Insolvency service. Director conduct will be scrutinised. Clearly it seems daft for us all to want to lose what little we have left But thats just it. In most cases we have lost so much the little thats left isnt going to make much difference. Might as well let that go in order to get a FULL and THOROUGH forensic analysis of how we ended up losing so much already.
The shares in this company must NOT be sold at this price. The BOD should do the decent and honourable thing and pass the following resolution today or put it to the meeting: "That the socking great hole in the ground that we dug at the greatest expense hereby and is resolved to be backfilled from both ends with the most impregnable concrete available" Disgrace - i have written off my investment and dont see why I should give my upside and my backside away.......
Scrimshaw says if No vote admin is most likely outcome. Since the board have been wrong about just about everything, that should signal everyone to vote no. Ps. Does JPM share boards view in which case since they are clearly working against shhldrs that shhs even more reason vote no.