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National World – saga continues as possible offerer Media Concierge warns it on “false and misleading statements”!

By Steve Moore | Saturday 23 November 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


At 1:06pm yesterday ‘news media sector consolidator’ National World (NWOR) responded to a 7:00am possible offer at 21p per share ‘request for engagement from board’ announcement from its largest shareholder Media Concierge (Holdings) Limited – including stating that it is investigating “a potentially systemic pattern of historical invoicing irregularities in relation to the activities of entities affiliated with Media Concierge” and that “entities affiliated to Media Concierge are yet to provide access to the necessary documentation in accordance with National World's contractual and legal rights to enable the investigation” as well as that “entities affiliated with Media Concierge are currently inappropriately withholding revenues due to the company totaling £4.4 million”! Late in the afternoon Media Concierge responded.
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