This is a very revealing post. Both Pintoo and Parsifal have been long time, all too often overly exuberant and very personal supporters of AJX, particularly of NC.
Reading this and other recent posts, there has clearly been a major change in the both the business and personal relationships.
"Moreover, while Nick has said he has a lot of experience on US listings and I know I have supported him in terms of his impact on the business I can tell you that in conversations I had with him his knowledge of ADRs was bizarrely lacking and less than I could understand from reading everything I could lay my hands on. That matches with the strange fanfare on the NASDAQ international designation which is nothing more than a marketing platform launched by NASDAQ. We couldn't list while the Susta case was ongoing - well we could have but it would have made things awfully public - but that was settled in January."
Just read that again; "I can tell you that in conversations I had with him his knowledge of ADRs was bizarrely lacking..."
WTF???
This is the major reason I questioned the personal relationship between Pinto and Parsifal and NC from the beginning. Many posters were damning of me and thought that the opportunity of receiving information from "behind the scenes" was invaluable.
From my view point, when relationships go bad, they can be extremely damaging and this looks like it could be nasty.
AJX Price at posting:
55.0¢ Sentiment: None Disclosure: Held
