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Looks like iHub is under attack! It couldn't happen to a nicer bunch of _____________. . .
http://www.iii.co.uk/stockmarketwire/234204/a...equisition
ADVFN contacts FCA over requisition
By StockMarketWire | Tue, 7th April 2015 - 09:26
ADVFN will not hold a meeting to appoint a new board until the Financial Conduct Authority confirms the shareholders making the call have permission to hold their increased stakes in the company.
ADVFN announced last month that it had received a further communication regarding a purported requisition for a general meeting from Sweet Sky Limited and Shellhouse Limited to remove all the directors of the company and appoint a new board.
ADVFN's wholly owned subsidiary, ALL IPO plc, is authorised and regulated by the FCA and shareholders seeking to own more than 10% of ADVFN must have permission by the FCA.
It says ownership above the levels of 10% and subsequently 20% without such prior change of control permissions is a criminal offence.
ADVFN says Zack Keinan, Sweet Sky Limited and Shellhouse Limited (the requisitioning shareholders) have disclosed a 25.71% shareholding in ADVFN as of 20 March.
It adds: "Despite repeated requests by the company to the requisitioning shareholders for the relevant information required to allow ADVFN to ascertain whether correct FCA approvals have been sought, this information has, to date, not been provided."
A statement continues: "Notwithstanding the view of the board that the purported requisition is an attempt to take control of ADVFN without paying a fair value for the company, the board has taken the view that it would be inappropriate to accept the requisition and convene a General Meeting without a clear confirmation that prior FCA approval has been granted for the requisitioning shareholders' interest in the company. As such, the board will not be taking any further action in relation to the requisition at this stage.
"The board strongly recommends that shareholders take no action."
ADVFN also says the board has received information that unknown parties have been communicating with shareholders, who have been bullied in an attempt to acquire shares in ADVFN.
The board encourages any shareholders who have experienced this to contact the company's help line on 0207 0700 961.
At 9:26am: (LON:AFN) ADVFN PLC share price was 0p at 114.5p
http://investorshangout.com/post/view?id=2850481
Looks like iHub is under attack! It couldn't happen to a nicer bunch of _____________. . .
http://www.iii.co.uk/stockmarketwire/234204/a...equisition
ADVFN contacts FCA over requisition
By StockMarketWire | Tue, 7th April 2015 - 09:26
ADVFN will not hold a meeting to appoint a new board until the Financial Conduct Authority confirms the shareholders making the call have permission to hold their increased stakes in the company.
ADVFN announced last month that it had received a further communication regarding a purported requisition for a general meeting from Sweet Sky Limited and Shellhouse Limited to remove all the directors of the company and appoint a new board.
ADVFN's wholly owned subsidiary, ALL IPO plc, is authorised and regulated by the FCA and shareholders seeking to own more than 10% of ADVFN must have permission by the FCA.
It says ownership above the levels of 10% and subsequently 20% without such prior change of control permissions is a criminal offence.
ADVFN says Zack Keinan, Sweet Sky Limited and Shellhouse Limited (the requisitioning shareholders) have disclosed a 25.71% shareholding in ADVFN as of 20 March.
It adds: "Despite repeated requests by the company to the requisitioning shareholders for the relevant information required to allow ADVFN to ascertain whether correct FCA approvals have been sought, this information has, to date, not been provided."
A statement continues: "Notwithstanding the view of the board that the purported requisition is an attempt to take control of ADVFN without paying a fair value for the company, the board has taken the view that it would be inappropriate to accept the requisition and convene a General Meeting without a clear confirmation that prior FCA approval has been granted for the requisitioning shareholders' interest in the company. As such, the board will not be taking any further action in relation to the requisition at this stage.
"The board strongly recommends that shareholders take no action."
ADVFN also says the board has received information that unknown parties have been communicating with shareholders, who have been bullied in an attempt to acquire shares in ADVFN.
The board encourages any shareholders who have experienced this to contact the company's help line on 0207 0700 961.
At 9:26am: (LON:AFN) ADVFN PLC share price was 0p at 114.5p
http://investorshangout.com/post/view?id=2850481
