By Tom Winnifrith, The Sheriff of AIM | Friday 1 September 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.
Yesterday shares in R4E (R4E) fell sharply after a profits warning and a warning that it may breach its covenants in the third quarter. I am a shareholder in R4E and happen to think the fall is way overdone, but that is for another time. I want to look at how it handled the covenant issue and what that tells you about the financial crime at Telit (TCM) - which morally bankrupt Nomad FinnCap is okay with.
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