Originally Posted by
True Blue
The fact that credit card payments were being withheld would have been common knowledge in the investment industry. As I said previously, it is efficient, news is out in seconds. But they still valued the shares at 12p. They closed yesterday about 3.5p. Who arrived at the 1p valuation/offer? I have read The Times article. One processing company had started to hold back more than normal.
Well the shareholders can reject the 1p offer if they wish but clearly the directors don’t think it is possible to carry on as an independent company. Andrew Tinkler must have paid more than 1p per share for his 10% stake and so won’t be very keen to sell.