It’s yet another “shocker” for holders of the now defunct in administration plus listed Rivington Street Holdings PLC. You will recall that I revealed three weeks ago how Rivington turned down bids for t1ps and Minesite in September 2012 at £1.15 million claiming the bids failed. In fact Rivington walked away and then borrowed cash from Jim Mellon instead, then allowed the offshore based businessman to buy both operations for just £100,000 for one of his Isle of Man based “tax efficient” vehicles.
A large number of emails have landed in the in-tray, since my article, from angry share-holders, asking my good self to form a share-holder action group to confront Mellon head on at the 2014 Master Investor show. (One or two from people who used to work for and/or own shares in Rivington which is now tits up and in the toilet despite Jim Mellons’ best efforts to … read more