Friday 28 April 2017 The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares
Expose: How Jason Drummond & Teathers blew £10,500 of shareholders cash on a "shooting day" at "Downton Abbey"
By Tom Winnifrith, The Sheriff of AIM | Tuesday 4 October 2016
Pretty soon we will hear the full awful details of the realisable assets at Teathers Financial (TEA) and I fear that we must brace ourselves that it will not be good. The word on the street is that the number could be as low as £100,000. So where did all the money go? This will horrify you.
I have obtained proof that on Thursday 11 June 2015 Teathers Financial paid over a total of £10,500 (including VAT) for a day's shooting with The Royal Berkshire Shooting Group based at Highclere, the stately home where Downton Abbey is filmed. The party of 17 was headed by Mr Drummond and his wife Helen also attended as did FD Nilesh Jagathia.Oliver Fattall and Drummond's PA at Teather's Annabel Ritchie also pitched up for team Teather. There were at least two employees of a private company owned by Drummond on the shoot.
Miles Nolan was there but unlike most of the guests needed training from one of the five instructors who came as part of the package. Why invite a man who was PR man for WH Ireland. Also attending was Steven Norcross a spiv from corporate broking at FinnCap. Teather's broker was Peterhouse and its Nomad Roland "Fatty" Cornish so why invite Norcross or for that matter Corporate Financier Mark Ashurst of Cannacord?
Why invite Jasper Berry, pictured above in his normal casual dressed down attire? Jasper is head of institutional sales at WH Ireland so since no institutions owned shares in microcap Teathers and WH Ireland did not act for this dog ( though it acts for many AIM hounds) his presence was pointless as was that of fund manager Tom Spanner of Ingentes Capital.
This was a monumental jolly for Drummond and the senior team at Teathers, for City pals and staff of Drummond's private company. One imagine's that it was so much more fun for these members of the 1% to spunk the hard earned savings of the 99% on that Thursday than to actually pitch up at the office. And cash strapped, cash burning investment company Teather's got to pick up the tab. Words fail me.
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.