The Lemon Fool

Another case of irregularities in accounting: the CEO has stepped down temporarily after a book-keeping investigation revealed signs of possible wrong doing. He is staying on as an adviser to the chairman, however, and collecting his salary of $600.000, which doesn't make a lot of sense, having taken home over $1m. last year. Again, the shares have been suspended while investigations are being carried out. This sort of thing is becoming more and more frequent and we never seem to hear the full story as to who is to blame and whether it is incompetence which has gone un-noticed or deliberate fraud, also un-noticed for some time, but there is always a big loss and a big drop in s.p. and it is the shareholders who suffer.

Bouleversee wrote:He is staying on as an adviser to the chairman

John Slosar is The Chairman of Purecircle seemingly. Mr Slosar was a Swire Group lifer in Hongkong and got Cathay Pacific into big-trouble when Slosar (CX Chairman) told a press-conference “We certainly wouldn’t dream of telling them what they have to think about something. They’re all adults, they’re all service professionals. We respect them greatly,” in the context of CX Staff protesting on the streets. Mr Slosar does have a couple of £m in Purecircle shares, which I guess may reassure the small shareholder. Swire itself Was a Purecircle Investor a long time ago, as Swire is an Anchor Coca-Cola bottler in China their involvement did pique my interest. I never did invest in Purecircle, Swire sold their investment also, good luck to those that hold........

It is always a good idea when posting on the "news" forum to actually post links to the "news" as it helps poster/readers to understand the context.

This is the times, though most of the story is behind a firewall.

These are from the companies own web-site.

RNS dated 14th November. Company update
RNS dated 12th November. Resignation of director

I usually do but then I get messages saying it's behind a paywall and it was very late. Actually, I thought that if one googled the headline (actually going through google and not just putting it in your address box) the article does come up. Always does for me and I don't see why the fact that I am a subscriber should make any difference through Google.

Bouleversee wrote:I usually do but then I get messages saying it's behind a paywall and it was very late. Actually, I thought that if one googled the headline (actually going through google and not just putting it in your address box) the article does come up. Always does for me and I don't see why the fact that I am a subscriber should make any difference through Google.

It was late when you posted but the headline was missing.

From the link by seagles it was "Pure Circle boss Magomet Malsagov steps aside amid ‘inventory issues’".

For non-subscribers one can only see the first 3 and a half paragraphs. The remainder is behind the paywall and only available to subscribers afaiaa.