The Takeover Appeal Panel are back at the Court of Session today to continue their action against Dave King.
At the end of February the South African based criminal exhausted all appeal options as he tried to avoid making an offer of 20p per share to Sevco shareholders out-with his concert party.
Despite posting an advert claiming that Laird Investments would make the offer the 26th April deadline for that stalking horse has come and gone without any sign of a prospectus or deposit in an escrow account.
The TAP have quietly gone about their business of defending shareholders and have an unstarred motion in front of Lord Doherty today.
Last Monday King told a gathering of selective reporters that he was planning to raise £6m from a fresh share issue but like most of his promises there has been no substance to that claim.
During that media meeting King made a number of accustations against the TAP including bullying, as today’s action shows King’s days of dominating and bullying minor shareholders are nearing an end.
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