News blog
Greatfleet
- BY: Andrew Hore |
- POSTED: 09/07/2008 |
Things don’t look bright for Greatfleet and its share have been suspended.
Recent trading has been difficult and the recruitment company hasn’t managed to agree repayment terms with a major creditor. This could lead to a shortfall in working capital and that is why the shares have been suspended.
The shares slumped 2.5p to 8.5p – a new low - prior to the suspension. That values Greatfleet at £1.51m.
Six days before the suspension chief executive Colin Gerstein bought 400,000 shares at 22p each for his SIPP. That took his stake to 17.4%. Gerstein has been buying shares since he took over the business last autumn after it slumped into loss.
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