Mr King’s unexpected share issue

Several members of Sevco High Command had a bit of a surprise yesterday morning.

During a conference call, they found out about the proposed share issue.

Apparently, the fait accompli press release was already in their inboxes and that was that.

When the startled directors stated that this had not been discussed at the regular meeting on Friday it was clear that Mr King was in no mood to brook any opposition from his Blue Room Colleagues.

It was done and that was very much that.

I’m told that the appropriate people in the Takeover Panel were meeting today to discuss this latest move by the South African based convicted criminal.

Let’s just say I would be surprised if they are taking this well.

Prima facie, this move appears to be classic King:

Delay, deflect and defy.

I rather think that the Takeover Panel chaps are of the same opinion.

Mr King will be legally represented in the Court of Session tomorrow.

I never thought in 2015 that the Off Licence Putsch would create such a bizarre shit show.

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