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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.
The poodles of the PR community, that is to say the deadwood press, were briefed that Telit Communications (TCM) would by Friday have completed the review of whether is CEO was charged with fraud in 1991 but did a runner pre trial. Telit did not deny the allegations we broke as companies invariably do, at first, when exposed. Anyhow it is now Friday.
Telit must by now know the results. Births, marriages, deaths Jersualem: how many women were born 17 March 1966 and named Ruth Veronique? Er 1. And she is married to a chap called Katz? Right. Case closed. Oozi/Uzo you are toast and fired and by the way the art Curator is fired too.
It is now after 1 PM and there is no statement. You do not delay good news and you do not hurry up bad news. No wonder the shares are slipping, they are 128p as I write.
Telit is clearly a one man show and that man is Uzi, I mean Oozi. Like Globo, without the head honcho it will implode given that its balance sheet is a wreck and it is guzzling cash while battling of legal issues in Italy in relation to the BAMES criminal investigation and bankruptcy.
As I explained a few days ago HERE, this is Globo mark two and the clock will be striking midnight soon. While you can - SELL.
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