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Dealsmatey

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13/09/23

03:57

Post #: 69833880
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Originally posted by VYR: ↑

Thanks for the heads up Deals.

Interesting to learn what Patrick Davin has been trying his hand at since leaving Vmoto in 2015 after throwing Charles in at the deep end.

Seems he and the past Chairman of VMT Ollie Cairns who wasn't re-elected in 2017, when Charles bought Phill Campbell in to replace him, have been beavering away raising capital to achieve what appears to be very little.

Patrick owns 50% to 75% of the company which has raised from punters £ 920,000 + $2,260,000 and had net assets of £1.8m at the end of 2021. The 2022 accounts have not been posted yet. Seems like the punters have lost well more than half their investment.

Nothing to see there for VMT.

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Indeed. Great post VYR, for sure an interesting company to follow and appreciate you sharing the balance sheet.

what do you mean 'after throwing Charles in the deep end'? I read the filings back 15 odd years and I kind of understood that Patrick had troubles with the previous board (who also tried to takeover) and replace Charles. Patrick steppped down and came back in an executive position once the board activist situation blew over.

I could never decipher why Patrick finally moved on after coming back? Do you know?

Very interesting history. New holders who haven't read back, don't understand what Charles had to get through. And I think it's very important.

VMT Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

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