AIM does not do irony but if it did Verdes Management (VMP) would win all the prizes. This is a typical tale from the Cesspit, directors and advisers keen on trousering the moolah, shareholders screwed and misled. If AIM was credible this company would be put out of its misery at once but the long running farce just keeps on going. No-one gives a damn about rules on the Cesspit.
Verdes, I am not making this up, describes itself thus:
“Verdes Management was established to support UK companies who have encountered difficulties during this economic climate. Drawing on our collective expertise in the City, the Verdes Team have unique resources that enable us to identify weaknesses in UK PLCs and offer independent advice and solutions.”
Fabaroonie. That sound great. Until you note that this company itself has been a total train wreck with its shares plunging from more than 3p three years ago to 0.09p on Friday. The company is – by my estimates more or less out of cash and has debt and is loss making. But at least there is the vast City experience of the board. Would that be the board that has failed to get a meaningful placing away? Has failed to compete on any advisory mandates? That said it had raised money last Autumn but er…did not? That misled investors in at least two RNS statements in the past six months? Yes that board. You could not make it up.
This reminds me of an entry in the “worst letter I wrote” contest.
Dear Jim
Can you fix it for me to appear on It’s a knockout?