Interquest Share Discussion Threads

[ih_559245] 08/9/2017 09:19

I agree with Chrysalis99 on this aspect of fiduciary duty and am seeking advice from a lawyer as to whether a possibility exists for some legal action on the basis of prejudicial activity by a majority shareholder which results in financial loss incurred by minority shareholders in this ITC debacle. If I get a 'green light' I may seek to gather a group of affected minority ITC shareholders, or even ex-shareholders forced to sell at a diminished price.

[chrysalis99] 08/9/2017 09:02

Nevertheless it is morally wrong, motivated by greed, ignores the directors' fiduciary duties, has resulted in real financial losses to shareholders, and it therefore tantamount to theft.

[vatnabrekk] 08/9/2017 08:41

I'm quite sure that they will have taken legal advice before making any of these moves, but that doesn't necessarily mean that the advice that they got was correct, and it doesn't necessarily mean that they are in the clear.

[spot1034] 08/9/2017 07:48

I got out a few weeks ago by selling in the market at a higher price than the offer. It did at least give me some satisfaction not to have sold to Chisbridge, and I was pleased to convey this to the gentleman who subsequently phoned me for the third time to try to persuade me to accept their 42p.

Whilst those who haven't sold are most affected by this latest scandalous development, any investigation should not overlook the fact that there were many like myself who are now out of the share but who were forced to sell at a loss and would have preferred to hold for a recovery in the price which could well have been achievable had this company been run for the benefit of all shareholders.

At the very least, serious questions need to be asked about this latest development, about what circumstances led them to dismiss Panmure Gordon and what efforts they have been making to find an alternative and why they have been unsuccessful. I hope there will be a full investigation by the authorities.

[tsmith2] 08/9/2017 00:01

Scandalous

[exbroker] 07/9/2017 23:40

Any one bought any today?

[eastbourne1982] 07/9/2017 21:26

There are so many shocking things happening in the markets, to a certain extent what regulation there is seems pretty pointless as pretty much anything goes, look at the likes of ENTU and Fairpoint recently, these companies have been run into the ground (without much care) and the assets will now be sold off on the cheap as a result of administration.

Have the markets ever been more dodgy ??

[chrysalis99] 07/9/2017 15:17

I have also written to AIM asking them to intervene. I have pointed them to Paul Scott's summary piece. I am shocked that certain high profile business people have associated themselves with this board and their distasteful and underhand tactics which must be very close to breaching AIM regulations and precedent in relation to the treatment of minority shareholders.

[bsharman3] 07/9/2017 14:21

Hi All,

There is lots of good commentary about the fiasco on stockopedia.
hxxp://www.stockopedia.com/content/small-cap-value-report-thu-7-sep-2017-itq-ful-boom-tide-botb-koov-mcb-216303/

I would urge everyone to write to the FCA and AIM about this situation.

[ih_559245] 07/9/2017 14:11

For all the good it may or may not achieve, I have reported ITQ for possible (probable?) fraud to AIM, FCA and Acrion Fraud. I would urge other offended parties to consider similar action - how else will minority shareholders be heard?

[panic investor] 06/9/2017 19:51

Somebody got out nicely early in then - a director ?

[vatnabrekk] 06/9/2017 18:32

This is absolutely disgusting. I just cannot find words to describe this course of action by the directors. Thankfully I got out about a week ago because I could see de-listing coming, but not in this way. I thought they would do it properly by buying up 75% over time. But no, dismiss the NOMAD, then let nature take its course. I would never have thought of that. There must be some rules & regulation against this sort of behaviour, and I hope they get what they deserve.

Good luck to all who are still in here. I feel for you.

[ir35] 06/9/2017 17:48

It is disgraceful behaviour. Have to wonder what the likes of IP Concept and some of the other larger shareholders think of this and whether they will do anything about it. My guess is nothing will happen and shareholders (including me) are screwed. With hindsight it was obvious we should have accepted the offer or sold in the market - as being screwed over by the management was highly likely after the attempt with the offer at 42p. I was encouraged by IP Concept buying at above the offer price but that was clearly a mistake.

I do hope that some of ITQs customers are also shareholders.

[eastbourne1982] 06/9/2017 17:35

I did hold these but sold just after the takeover approach came.

The announcement today is shameful, if there isn't a fully investigation into the handling of this it shows how corrupt the financial markets are.

[effortless cool] 06/9/2017 16:58

Absolutely disgusting behaviour by the management. This quite simply should not be allowed.

Remember Chris Eldridge, Gary "Trigger" Ashworth and David Bygrave and never invest in anything connected with them again.

[ir35] 06/9/2017 16:44

What a really nice bunch the management are.

[dusseldorf] 06/9/2017 16:42

I'm not a holder, but todays RNS states that they've informed the market on multiple occasions that Nomad notice was given - I can't see one, am I missing something?

...and she-ra - yes, its blatant price manipulation and at worse fraud regarding getting the company delisted by willfully not appointing a Nomad

[she-ra] 06/9/2017 16:11

Whoa! That's evil.

[keit4h] 29/8/2017 22:26

They will want to buy more shares to get to 75%. So they will do what they can to get the share price down.

Whatever you think of the management they know the company much better than we do and think the shares are such good value at 42p that they want to buy them all.

[insomniac36] 29/8/2017 11:16

No surprise with this RNS - had to justify the 42p offer somehow - taking shareholders for fools. Strange to blame Brexit etc etc when other businesses in the sector are doing a great job in leading their companies forward. I guess that is the key thing here - the Chisbridge gang of managers have only their eye on making money for themselves & will say anything to achieve that - what they should be doing is running the company in the interests of all shareholders!
They haven't got 75% yet !!!

[vatnabrekk] 29/8/2017 09:55

I'm out. Lost faith in the management. GLA.

[kemche] 29/8/2017 09:31

Wow! Let's deliberately wind up our own shareholders. How novel!