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By Tom Winnifrith, The Sheriff of AIM | Thursday 29 March 2018
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.
Pathfinder Minerals (PFP) has yet to fess up but it has been served with a new EGM request by Richard Jennings of Align, seeking to oust disgraced trougher CEO Nick "Not for the Many but for the " Trew and Tory Toff NED Sir Henry Bellingham of 3DM infamy.
Jennings has told £170,000 a year Trew who has presideded over monumental share price obliteration, that the requisition document has been checked by his legal advisers and is 100% correct in accordance with Section 303 of the Companies Act (which allows electronic form submission).
Given the refusal of Trew to say why the prior submission was invalid, Jennings has cc'd in the Head of Enforcements at the FCA & AIM Regulation. I understand that both bodies are looking into a number of other Pathfinder related matters notably allegations that statements made via RNS are just not true and attempts by Trew and Sir Hal to do a placing at just 0.6p to folks who would support them at an EGM when money has been offered by Jennings and others at 1p per share.
I wonder how long Pathfinder will take to fess up to the new EGM Requisition and how long Trew will squirm before calling it. Remember that on his package every day that he can retain a job for which he is patently not fit is worth £465.75 to him.
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