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Interquest - sell in the market: chairman Gary Ashworth acts like a prize tosser

By Tom Winnifrith | Saturday 20 May 2017


Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. 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.


Interquest (ITQ) has now announced that there is a formal offer at 42p per share in cash from an MBO team led by Gary Ashworth. That would be the same Ashworth who told us after the last profits warning that the future was bright and the shares were cheap at 52p.

Ashworth has emailed after our comment the other day pleading mitigating circumstances, but there can be none. Folks bought the shares at 52p because Ashworth said they were cheap.

Now he is steamrollering through an MBO at just 42p. Sorry Gary, but you have acted like a complete and utter bastard and there can be no excuses for your behaviour.

The MBO will go through. So with the shares at 46p-47p we advise selling in the market. If Ashworth ever gets involved in a listed company again we will not tip it - he is now on our watch list as his behaviour towards private investors is just so utterly shocking.

This article first appeared on the Nifty Fifty website which Tom Winnifrith runs with Steve Moore & Lucian Miers. To access the website ahead of the next share tips from Tom & Steve and a new shorting piece from Lucian JUST OUT click HERE


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