Describing itself as a “specialist producer of technically advanced leather and luxury leather goods for retailers, manufacturers and distributors”, Pittards (PTD) has announced it “conditionally raised in aggregate £329,049 pursuant to the management subscriptions and the open offer”. That doesn’t sound a lot for such efforts and worse,…
Shares in “producer of technically advanced leather and luxury leather goods”, Pittards (PTD) are currently further down today at 37p. That’s further down since they also fell yesterday, having closed prior to then at 47p, on the back of an intra-day (2:08pm) “trading update” – rarely good!
“Pittards plc (AIM: PTD), the AIM listed manufacturer of specialty leather, announces a new loan and trading update” – and the shares have currently responded to 39p, more than 6% lower...
This does not seem to be a wonderful time of the year for leather goods producer Pittards (PTD). In 2014, there was shocking news it didn’t tell of, last year a 23rd December “materially below” expectations profit warning and this year we now have a “Situation in Ethiopia and Trading Update” announcement. As you may have guessed, it ain't good...
One gets into a spot of bother with your bank accounts getting frozen in a country where you do a lot of business. But heck, you are on the AIM Cesspit, the accounts are in bongo bongo land so no-one will get to hear about this affair and you know that you will be able to sort the darkies out sooner or later so why should Pittards (PTD) have bothered to fess up to investors. Who gives a FF about AIM Rule 11 anyway?
