Breach of AIM rules 26 & 22 confirmed?

[govan_derriere 3]

Last Thursday I emailed AIM & FCA with information relating to breaches of AIM rules 26 & 22. I deliberately decided not to inform the Nomad at that time. He seldom appears to address any issues raised, anyway.

 

Today, I sent two emails. The first below was sent to NOMAD/ AIM/ DL/ DS/ BL. The second only to the NOMAD as the FCA & AIM had previously been informed.

With the first email, they have now put up a bio relating to Barry Leach on the official website.

http://www.rangersinternationalfootballclub.com/board-management/board-of-directors

 

Just noticed tonight that, with the second email, they have changed the date that Llambias joined NUFC from 2007 to 2008 on the RIFC website. An admission that they are guilty of breach of AIM rule 22?

The RNS announcement on 6th Feb is unchanged when I last checked at 9:43 pm, link below. Don't know if they can just login and change it or maybe they need to wait until the stock exchange is open to do this?

I still have issues with the financial claims made in the RNS announcement on 6th - see The Mag blog.

 

The sooner we are shot of this board the better.

 

 

Email 1

Dear Sir,

I am a shareholder in RIFC.

Under AIM rule 26; "each AIM company must maintain a website"

It is now more than 7 weeks since Barry Leach was appointed as a director of RIFC.

Where are the "biographical details" of Barry Leach on the company website?

There are 4 directors, but details of committees do not include Derek Llambias, nor Barry Leach.

Where are the "descriptions of the responsibilities" of the members of the board?

On RIFC website

"The Company voluntarily complies with the provisions of the UK Corporate Governance Code as applicable to smaller listed companies (that is, companies below the FTSE 350)."

Under UK Corporate Governance Code, "Comply or explain", I still await an answer submitted to David Somers, chairman.

Why does the company not have two independent non-executive directors?

 

 

Email 2

On the RIFC website, it is stated that Derek Llambias joined NUFC in 2007.

Checking online reveals that Derek Llambias was a director of Newcastle United from 14th May, 2008 until 26th June, 2013.

 

The lack of care taken with publication of basic information appears shocking, if the dates I post above are accurate.

 

Also,

On the RNS announcement on 6th Feb., this information is repeated. A lazy, copy & paste job?

 

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12241662.html

 

Are there two breaches of AIM rule 22?

 

For your additional information, there is an interesting perspective adopted by some NUFC fans.

 

http://www.themag.co.uk/2015/02/must-read-derek-llambias-rangers-bio-written-jfk/

 

govan_derriere

Shareholder in RIFC

[buster. 4,808]

GD, some dubious characters will have bad dreams that will feature an in-box full of your deteremined and relentless correspondence.

 

Edited February 25, 2015 by buster.