The ‘Natives’ (Shareholders) of the much maligned ADVFN are getting restless. So restless that they reached out to me last Friday 22/11/2024. That approach resulted in several Telegram group chat’s and a video meeting.
The Tele’ group has over 40 members/shareholders who stated that they’re in contact with other small time holders and have got hold of damning information of malfeasance within ADVFN. Which I took with a pinch of salt.
One groups ‘damning information’ usually ends up being no more than wishful thinking, as in this case claimed exorbitant Director expenses. That’s not going to fly. It was a very interesting weekend, quite funny in many ways not least that they asked me to help, formalise and draft a Requisition, ‘You know the ropes Dan on how to get the job done’. Even offered a ‘fee’ and a position within the company ‘Head of RestructurIng’ LOL!
Their lead man/woman, whose identity and holding I have confirmed via the actual ShareHolder Register they provided, (No mean feat in itself to get hold of) came across as a decent individual. I did give them one tip. Don’t organise on ADVFN chat BBs and for fucks sake never name your source on the ‘inside’. Loose lips sink ships. Fortunately that dies with me. Lesson learnt.
T
oday’s 5% drop in the SP will no doubt add fuel and more members to the Action Groups cause. But is that ’cause’ a lost cause?
I can vouch that the Group certainly has enough stock to call a Requisition, but that’s far short of
ADVFNS’ Executive, family & no doubt ‘friends’ holdings of at least 30%, so it’s an upward struggle, but there are, this is key, other ‘Malcontents’ and just over 28% of stock ‘not in public hands’. So theoretically there’s 6o% ish of votes out there. That would need a huge concerted push of a ‘clandestine nature’ to reach out and pitch your ‘Antidote’ to the current ‘Malaise’ engulfing the company and it’s share price. They certainly have the stomach for it. However traipsing round the City of London, and beyond, pressing the flesh campaigning for votes is time consuming.
I’ll be meeting them in person next week in the City of Mammon…
Stay tuned…
Viva
Daniel
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