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By Tom Winnifrith, The Sheriff of AIM | Wednesday 13 September 2017
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.
Deborah White should have been fired as boss of AIM uber-dog Milestone (MSG) so many times. The company has been a serial non deliverer, shareholders have lost nearly everything and Debs has made out like a squealer being amply rewarded for her abject failure. Then last Autumn was the crime that should have seen her go to jail
The company said it had raised £1.385 million at 1.5p on October 20 2016. Only on 7 November did it fess up that a) the cash had not been raised on 20 October but was instead pledged to arrive by 30 October b) £1.25 million had not arrived at all c) the company was thus almost bust. Folks who bought shares after 20 October did so on a false prospectus, Debs misled them and broke all AIM rules on timely disclosure.
That Debs did not get a P45 and have her collar felt on November 7 shows what a dog Milestone is and how AIM Regulation really are oxymorons.
But a source close to the action suggests that finally time has run out for one of the worst CEO on AIM - there's a contest! - and that she will leaving the company by the weekend. The word is that Debs wants the news out on Friday when nobody is watching.
Perhaps it might be better to adhere to rules on timely disclosure this time, and fess up, you useless waste of space?
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