By Ben Turney | Sunday 16 November 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Over the weekend, the issue of directors pledging shares for loans has spread from AIM to the Main Market. It is too early to say if anything untoward has happened, but next week we shall seek urgent clarification from Telecity (TCY), Partnership Assurance Group (PA) and Perform Group (PER) concerning arrangements made by directors of each company with UBS AG, over the course of 2014. In each instance (linked to in the RNSs above), it appears one director has used part or all of his respective holdings as security against loans received from UBS. There is nothing to suggest any rules have been broken, but, in light of the developing Equities First Holdings LLC scandal, the appropriateness of such transactions is now in question. Urgent clarification is needed from all three companies first thing Monday
Filed under:
Thursday »
Wednesday »
Tuesday »
Monday »
Sunday »
Saturday »
Friday »
Thursday »
Wednesday »
Tuesday »
Monday »
Sunday »
Saturday »
Friday »
Wednesday »
Tuesday »
Monday »
Sunday »
Saturday »
Friday »
Wednesday »
Tuesday »
Monday »
Sunday »
Saturday »
Friday »
Thursday »
Wednesday »
Tuesday »
Time left: 01:26:25