Get watching London Listed ADVFN , ticker AFN.
Today’s TR1 from ADVFN ex Director Mr. Yair Tauman confirms that the Israeli group that tried to take control of ADVFN in 2015 are back with a vengeance. Yair Tauman has declared an increase in holdings from 9.44% to 18.31%
For those that don’t know the history, it went like this. In 2015 an attempted ‘putch’ was launched, the share price went through the roof, as the group, posing as Sweet Sky Ltd and Shellhouse Ltd ‘Officially’ declared 25%, which most believed was closer to 40% through the dark arts of undeclared ‘other’ parties holding stock.
At one point requistioners were contacting ADVFN private shareholders trying to buy their holdings, requisitions were launched, the FCA became embroiled and eventually the battle for the Company was quelled as the custodians acting for the group; Bank of New York (Nominees) and Bank of New York Mellon decided not to proceed with its requisition for a general meeting, they advised their clients that they had gone about the takeover the wrong way, breaching numerous FCA/SEC regs. Ergo the plug was pulled. Victory, Clem Chambers. The SP at the height of the requisition went over 150p.
What wasn’t known at the time was that this group had previously taken control of a little known company called QXL, which changed its name to Tradus, which then went on to massive value rises, ultimately QXL/Tradus, being sold for a whopping £946M to Nasper. https://www.independent.co.uk/news/business/news/naspers-946m-bid-agreed-by-tradus-765936.html
So the history here looks like a re-run of the 2015 takeover of ADVFN.
You can expect that todays news will be followed by more increases in SP and declared holdings with a requisition for a General Meeting. This could hit £2/£3 over the coming weeks/months as either party look to secure victory..
The Battle has begun.