Date: 11 December
Description: Notification of Alastair Johnson as a person with significant control on November 15.
This Companies House bombshell has gone largely unreported in the SMSM. Colour me surprised. So how did Johnston acquire his significant control? One could make a cogent case for Johnston buying out King as it kills two birds with one stone:
1. The ‘Cold Shoulder’ and any Court of Session edicts fall squarely on King, and as a former shareholder the impact on RIFC plc would be mitigated.
2. The £7.2m, promised by King to satisfy the auditors, which would have been a case of throwing bent money after bad, can remain safely ensconced in The British Virgin Islands.
However if (2) holds true, then Campbell Dallas are compromised. Is this announcement the rationale for the auditors recently beating a path to Edmiston Drive?
Is this the reason for Stewart Robertson dropping all communication with McInnes?
Is Sir Bribe & Lie behind the Johnston putsch? Will he step up to provide the £7.2m quantum required to keep the lights on? Or is Johnston going it alone with a view to raising this quantum at The Rinse & Dry Share Issue?