Tom Winnifrith Bearcast: Timber at Tullow & it could get a lot worse, when's the Bidstack warning & a very cowardly clown
Global Resources Investment Trust (GRIT) has finally acknowledged the Richard Jennings sack the board request for an EGM. But it is playing for time, banking unjustified salaries, and fails to grasp why the Align boss has such a strong case. Jennings has now issued a statement which we endorse completely, He writes:
Global Resources Investment Trust (GRIT) of Sam Hutchins infamy has received a request to hold an EGM an sack the entire board I can reveal. Oddly it has yet to inform shareholders and so, as a good citizen, I bring this news to a wider audience.
Yesterday, Global Resources Investment Trust (GRIT) issued a TR1 relating to the shareholding of Align Research run by Mr Richard Jennings. This demonstrates the extent to which former boss David “Sam” Hutchins went to to cover up his own share sales in a closed period, a matter we raised HERE.
Oh dear. Oh dear. I have been made aware of certain actions by David “Sam” Hutchins the soon to depart boss of main market listed Global Resources Investment Trust (GRIT). I know his fellow board members are aware of them and to them, and to new adviser Peterhouse, I ask “have you requested the FCA investigate and if not why not?” The allegations against City Grandee Hutchins are severe and if proven should be career ending.
Most metal prices are weak, mining shares are in the doldrums and spending on projects has been slashed around the world -- all of which is surely setting the scene for a major recovery, as supply begins to fall short of demand. So argues David (‘Sam’) Hutchins, investment manager at Global Resources Investment Trust (GRIT), which has assembled a portfolio of 40 companies in Canada, Australia and the United Kingdom by exchanging its own shares for newly-issued shares in its investee ventures.
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