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Five days after The Credit Junction announced a new credit facility (https:// GLI Finance puts out an RNS announcement to try to talk up the significance of the announcement.
This suggests firstly that they are desperate for anything that resembles good news (this is hardly material to their business as a whole) and secondly that, despite their seat on the Board of The Credit Junction, they were not up to speed with what was going on, or would have put out an announcement in conjunction with their investee company if it was really important.
In other words, the management just neutered the only voice who could possibly bring the situation under control.
It's a shocking mess and management have played their hand brilliantly.
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Last time the GLI Finance announcement was five days after The Credit Junction release, this time the GLI Finance announcement is six days after The Credit Junction issued a press release https:// My previous comments still apply- Suggests the company is not on top of what is going on within their investee companies, and/or there are poor relations between the two and is not coordination.- Parroting press release almost a week after announcement seems a bit desperate.- Any announcement must be made by an AIM-quoted company without delay. Therefore there are two possible conclusions: - The announcement is not material, in which case why issue a full RNS?
- The announcement is material, in which case delay is a breach of the AIM rules.- In either case the NOMAD has some explaining to do.
By posting on our share chat boards you are agreeing to the following: The IP address of all posts is recorded to aid in enforcing these conditions.Today's profit warning should not come as a surprise; the core problem for GLI is its cost of capital.Having destroyed its share price and investor base with it over the past three and a half years, the cost of equity is now way too high to contemplate providing support for its invested companies from its own resources and thus one by one they fail.As a user you agree to any information you have entered being stored in a database.
You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit.So, after once again destroying huge amounts of shareholder value, the management are paid bonuses whilst the share price continues to plummet.