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Ouzo time as Interserve’s shareholders vote down D4E: it is the end of the road for them!

By Nigel Somerville | Friday 15 March 2019


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.


I first warned about Interserve at about £1 back in October 2016, warned about it all the way down ever since and made it my sell tip for 2019. Today at an EGM, shareholders – as I had expected – voted down a debt-for-equity swap in which they would have retained 5% of the company. The shares were suspended immediately and at 2pm it was announced that the board will apply to the High Court for the company to be put into administration. In short, it is a 100% wipe-out for shareholders – and time for an Ouzo at Deputy Sheriff Towers.

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