Ann: Schrole agrees to scheme agreement with TES Global, page-5

I think everyone is lucky to be getting out at these levels. Management have had their snout in the trough for years and have failed to deliver on the growth forecasts. Most of the accounts have come from corporate partnerships which have later been dissolved and Schrole has managed to keep a lot of them. There has been so few new customers signed on and all the revenue growth has been from upselling the existing customers. The training business is shrinking at a time when the training market has been growing.

ETAS/Schrole was nearly broke when it listed and it has raised millions more since it's initial IPO. Thankfully this has also diluted the shareholding of the MD. He still walks away with some descent $$$ but it goes to show that the real money is made from generous salaries in these penny dreadfuls and not from growing the value of the company. In my opinion he was a good deal maker which is why he is getting out with his pants still on however in terms of running a successful business, he was a total disaster. The greed in terms of salary and options kept investors away and prohibited this company from becoming profitable a long time ago.