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Management Resource Solutions – an open letter to Nomad Arden: suspend the shares NOW!

By Tom Winnifrith, The Sheriff of AIM | Monday 1 April 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.

During the weekend in three separate articles I have detailed what an insolvent can of worms is AIM Cesspit listed Management Resource Solutions (MRS) and asked questions that need answering about its latest £1.32 million all share acquisition. The company has failed to answer the matters raised and its shares have plunged another 25.4% to 2.35p today. I have thus written to Nomad Arden demanding that it suspend trading in the shares at once and why. The letter is below. 

Mr Paul Shackleton
Joint Head of Corporate Finance
Arden Partners

April 1 2019

Cc AIM Regulation, FCA

Re: Management Resource Solutions on AIM - request for share suspension & full investegation

Dear Paul

The last time we crossed swords was when you were turning a blind eye to the fraud at Chinese companies you and colleagues at Daniel Stewart had listed on AIM such as Naibu. It is good to see that the reward for your great work in assisting the destruction of shareholder value there has been reflected in your rise up the greasy pole to your current position at Arden. And that brings me to Management Resource Solutions (MRS).

During the weekend just past I served up three separate articles concerning your client which I trust that you will not ignore and will deal with.

In the first, HERE, I questioned whether it was technically insolvent but then addressed the Alerion deal, its crazy valuation and the Companies house filings relating to Mr Talbott (Talbot) and Mr Grove.

In the second HERE I questioned the relationship between Mr Grove and disgraced Leon Hogan, a 10% shareholder in MRS but a man deemed unft to be a PLC director

In the third HERE I asked questions about any relationship between Messrs Hogan and Grove and MRS Chairman John Zorbas, noting a similarity of office addresses in Cyprus.

I would ask you to confirm that you have done full due diligence to address ALL of these matters. If you will not or cannot say that I suggest that the shares be suspended at once until we have full answers.

Yours sincerely,



Tom Winnifrith
The Sheriff of AIM

PS I have cc’d in AIM Regulation and the FCA so that WHEN this blows up and shareholders lose all their money, no-one can say that they were not warned.

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