“The danger is we have an excessive regulatory environment, combined with the adversity to risk. This has essentially created an impact that is affecting growth,” So regulation is a bad thing Mr Theret? Trying telling that to the many victims of poorly managed companies and crooked management.
“When I took over at Plus I inherited a company that was on the verge of bankruptcy.”“ You took over a company that had a healthy cash balance that YOU have brought to its knees with, in a large part, excessive management remuneration.
“It’s a huge disappointment that we have to shut down after all the fighting we’ve done to keep going.” You should have looked after your shareholders and Plus market constituents instead of turning down capital when it was offered instead of looking to save your own skin.
A POSSIBLE GLIMMER OF HOPE – Sources close to the firm say discussions over a possible sale of successful parts of the business are still ongoing, with Nasdaq and the broker Icap being mooted as interested parties. PLEASE, SOMEBODY EJECT MR BASING AND MR THERET FOR THE GREATER GOOD OF THE ENTIRE SMALL CAP MARKETPLACE, PLUS CONSTITUENTS, PLUS SHAREHOLDERS AND THE UK CORPORATE SECTOR.
July 4 2011 – Chief executive Cyril Théret speaks confidently with Financial News about Plus Market’s future, as the group stands on the cusp of regulatory approval for its derivatives exchange. “There are some sceptics and we do have something to prove, but we feel we’ve been pretty successful in a short amount of time. We have restored the financial credibility of the company, and what we need to do now is restore the growth story,” he says. Shame on you Mr Theret.
Final post of the day – “Prior to his time at the London Stock Exchange Cyril worked for State Street Bank and Trust in Paris, Munich and London. He holds a Maitrise d’Ingenierie Financiere and B.A. in International Economics” Remind me never to employ an alumni of MIF or hold a BA in high regard!