RT is going to have to resign eventually- so why not get it over with and go now? The charge sheet against him is getting longer by the day (with today's additions being insider dealings, failing to communicate with shareholders, and being a right twit). Re SUSPENSION- no reason for it- the fact we are all losing our shirts is our fault for believing the company.
Quite how RT, and his cohorts, can sit and say nothing is beyond me. With the share price in freefall, the makings of a false market (the price is either ridiculously low, or should be zero), the Board should be communicating to the market- particularly given the resignation of Canaccord. RT has proven himself to be a creator of wealth (for himself) and a destroyer of wealth (for others). There is no prospect of an MBO-zero, zilch. RT is not fundable.
The reason the share price is falling is not surprising. It is univestible. Until RT and the Board go until there is a thorough cleaning of the stables, no decent institution is going to buy.and in the meantime the sellers are queuing by the escape hatch.
clarkrob- good posts. If there is any value in the business, and I believe there is, I don't trust RT to deliver this for all shareholders. The man is either a flawed genius- and boy are we seeing his flaws, or he is a mendacious, venal , arrogant sod. Either way he must step down ( and if he doesn't I would expect the regulators to turn up the heat).
Given that Canaccord notified their resignation before RT sold his shares, there would appear t be a case of dealing while in possession of inside information by RT and chums. The man really is beyond the pale.
It is absurd to blame the media, negative bloggers, commentators for the decline of this company. The blame lies fair and square with the Board. Even the most cursory review of recent events from the non-listing, the RAC contract, the misleading RNS statements, the fiasco of the recent share sales have contributed to a near total loss of confidence. The good news is that IF there is still something of a decent business within QPP then confidence can be restored- but a prerequisite is a cleaning of the stables- new Chairman, new strong NEDs, new advisers- and probably new accounting policies ( the price won't fall on new policies- it will rise if the numbers are believable). But the time for change is running short. A pity M&G are selling rather than forcing resignations. It would be a pity if RT hung on in his bunker and in so doing brought the whole company down.
Almost al of us have lost money. One of the few people who seem to have realised what a cock-up RT was making, and thus sold, was... RT . I do hope the rampers are having a laugh while the rest of us cry. "Long and Strong"- "pathetic and delusional " more like.