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Letter from rebel Mark Jackson trying to oust useless barstools at Walls & Futures REIT: we back Mark

By Tom Winnifrith

15 May 2025 14:43

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WAFM

The board of Walls & Futures (WAFM) have destroyed value big time. Now they want to delist from AQSE. Rebel Mark Jackson wants to sack the board and keep the listing and has called a GM to do just that. We back Mark 100%. He writes:

Dear Shareholder,

Since flotation in 2016 at £1 the shares have fallen by 90% to 10p – prior to my intervention. The company has consistently made losses.

Since flotation, to 2024, the directors remuneration has been £683,563. In addition, £55,504 has been paid to Wigmore Jones Limited, a company of which Joe McTaggart is a director and shareholder.

In 2021 the board rejected a cash offer for the company at 50p per share. They also incurred costs of £168,794 in defence!

In 2023 the company incurred a loss of £99,999 on the sale of Pax Homes Limited to Joe McTaggart. Your board waste money - the audit fee for 2024 was £51,635 – 40% of income!!!

Your board are incompetent – for the last three years accounts have been filed late at Companies House - incurring large penalties. The board now want to delist the company shares from Aquis.

This will remove any market you have to trade your shares. The board say they are acting in the interests of shareholders. Their actions do not support this.

YOUR BOARD of DIRECTORS HAS FAILED YOU

I am a shareholder with a 4.2% of the company and want to see the company succeed and flourish. I can make that happen. Discussions have already taken place for a multi-million-pound acquisition at or around the asset value of the company.

A Positive outcome can only be achieved if the directors are removed, I am appointed to the board, and the company remains listed on Aquis.

I urge you to support the resolutions:

Appoint Mark Jackson as a director
Remove Joe McTaggart as a director
Remove Ross Taylor as a director
Maintain the listing on Aquis

Yours sincerely,

Mark Jackson 14 May 2025

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