#INCE Group – proposed £7m placing at just 5p per share, admits otherwise “will face financial difficulties”
- 2022-07-28 07:57:58
If I were a shareholder in corporate advisor, Arden (ARDN), and had, in late April, swapped my stock for shares in legal and accounting firm, Ince Group (INCE), I would be calling my lawyer right now; Ince has only just released a profit warning for the year ended 31 March 2022.
This marriage of two AIM-sewer-listed companies gets dumber and dumber by the day.
When professional services group, Ince (INCE), announced that it was buying its own, subscale, Nomad Arden Partners (ARDN), I suggested this posed such humungous conflicts of interest that it was a duff deal. Ince, advised by Arden, disagreed. Ho. Ho. Ho.
Two days ago Ince (INCE) the provider of legal and other corporate services announced an all share offer for sub scale Nomad Arden (ARDN). I flagged up then that this was a sign of a top of the market and also that there were bound to be conflicts of interest which would make this deal a nightmare not a blessing. Those COIs have cropped up sooner than expected and shares in Ince were suspended yesterday.