Now Worldlink kicks small shareholders in the wot-not’s – when is the FSA going to end the sacrifice of private shareholders at the altar of corporate greed?

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1 mins. to read

Two distinctly unappealing RNS just issued by Worldlink that are likely to give shareholders in the currently suspended Group sleepless nights and looks to be all but a precursor to de-listing – 

Update on funding  

Following the announcement by Worldlink Group Plc (“Worldlink” or the

“Company”) on 18 July 2012 that Across The Line Limited was to acquire 51% of

Worldlink’s wholly owned subsidiary Worldlink Sport Limited in return for a

required amount of funding, the Company today announces that the agreement has

now been terminated due to the required funding not being delivered to the

Company. The agreement was terminated by Worldlink on the basis of total

non-performance by the contracting company and its principals.


Company Update

The Directors of Worldlink Group Plc (“Worldlink” or the “Company”) wish to

announce that Stephen Pearson and Sports Media Gaming Limited (“SMG”) are no

longer contracted with Worldlink to act as Chief Marketing Officer. Proceedings

have been issued against Worldlink by SMG, the result of which is the

publication in the London Gazette of a notice of winding-up of the Company. The

Company is defending the winding up petition and the Company has prepared a

counterclaim based on non-performance and, after detailed investigation, a

substantial counter-claim for damages based on breaches of professional

confidentiality.

Coming hard on the heels of Ceres Power this week, it is getting beyond Blog postulations by the likes of our magazine, in asking where the FSA is in all this skullduggery by supposedly respectable corporate managements and brokers and nomads?

 We repeat our statement yesterday that unless you are inside, a retail shareholder simply cannot afford to risk capital in the small and microcap markets in the UK. I am not sure if the seemingly endless stream of shocking news in recent months is a consequence of the difficult environment we are currently operating in or just a sad reflection on human nature. Either way something has to give…

Editor

 

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