The corporate governance at Nightcap (NGHT) is – as I have exposed on this website so many times – dreadful. That rather surprises me as the non executive chairman Gareth Edwards is not a bad old stick despite having been a partner at the accursed law firm Pinsent Masons. One issue that the cash strapped company, now right up against the limit with its banks, and with its rollout programme on hold, is bonuses. I urge Gareth to look at events at Gresham (GHE), which – to make it easy for him – are detailed in full below.