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TheTeapot

Telegraph, weed and MT

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Here's a little news item from the Daily Telegraph http://www.telegraph.co.uk/business/2017/08/10/isle-mans-telecoms-provider-hit-criminal-proceedings-against/

Seems like a simple case of a guy getting busted bringing some weed home, pretty normal stuff on the Island really, so why is this in the national press? Just cos its a senior employee?

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It's because it's an AIM listed company, and if your CFO is wanted by the police, it may just affect the stock price a wee bit

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16 minutes ago, TheTeapot said:

Here's a little news item from the Daily Telegraph http://www.telegraph.co.uk/business/2017/08/10/isle-mans-telecoms-provider-hit-criminal-proceedings-against/

Seems like a simple case of a guy getting busted bringing some weed home, pretty normal stuff on the Island really, so why is this in the national press? Just cos its a senior employee?

Interesting that MT apparently a stoner CFO. 

Might explain why we were ranked alongside Kenya for internet speed yesterday. There's a company that has really given up even pretending to provide any acceptable level of service to its customers. 

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1 hour ago, JoeyDeaconsCat said:

Interesting that MT apparently a stoner CFO. 

Might explain why we were ranked alongside Kenya for internet speed yesterday. There's a company that has really given up even pretending to provide any acceptable level of service to its customers. 

not quite sure that's a real link but....

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The reason why it is in the Telegraph is that, as a publicly listed company, Manx Telecom are legally obliged to issue a statement if there is anything that might involve one of the leading officers of the company (such as a CFO) as it is thought that investors need to know as soon as possible about something that might affect the running of the company.  This they did yesterday:

Quote

 

10 August 2017

Manx Telecom plc

 Statement regarding the Group CFO

Manx Telecom Plc (AIM: MANX), the leading communication solutions provider on the Isle of Man, announces that it has been informed that Danny Bakhshi, CFO of the Group, is the subject of criminal proceedings unrelated to his duties as Group CFO of Manx Telecom.

In accordance with Company procedure, the Board has suspended Mr Bakhshi on a precautionary basis pending investigations being carried out. The Board will keep his suspension under review and will aim to make the period of suspension no longer than is reasonably necessary.

CEO Gary Lamb, formerly CFO, will serve as Group CFO on an interim basis. Further updates will be made in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014.

 

and it got picked up by 'wire services' such as Reuters, as well as the FT and the Telegraph.  The FT has got more details including:

Quote

 

 A clerk for the Isle of Man court of justice told the Financial Times that Junaid Danyal Bakhshi, 50, appeared before the deputy high bailiff on Tuesday after being charged with being unlawfully concerned in the production of a Class B substance.

He pleaded not guilty to the charge and was bailed until October 3.

Mr Bakhshi was charged after a quantity of cannabis allegedly worth almost £200 arrived in the Isle of Man from Amsterdam. A customs official intercepted the parcel. Mr Bakhshi was subsequently arrested.

Mr Bakhshi did not immediately return a request for comment. Manx Telecom has launched an internal investigation.

 

so at least two papers seem to have been able to use a bit of reporting initiative.  Has anything appeared in the Manx media? - I can't find it.

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38 minutes ago, Roger Mexico said:

 

so at least two papers seem to have been able to use a bit of reporting initiative.  Has anything appeared in the Manx media? - I can't find it.

When he was first charged I googled the name and came up with the MT connection immediately. I can't see what's stopping them doing something similar. 

 

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6 minutes ago, Declan said:

When he was first charged I googled the name and came up with the MT connection immediately. I can't see what's stopping them doing something similar. 

 

You probably can...

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2 hours ago, WTF said:

Obviously not a local and in lodge.

I would use the term 'lodge' in a kind of generic way. Lodges don't mean an awful lot these days. Being a big boy in Isle of Man business certainly does, well you can be at all these social functions chinking glasses with top cops, dodgy judiciary and pliable politicians. And all that.

 

edited to add:

And the 'journalists', who can be quite social animals too, need to keep the big boys sweet too.

Edited by gettafa

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1 hour ago, Roger Mexico said:

The reason why it is in the Telegraph is that, as a publicly listed company, Manx Telecom are legally obliged to issue a statement if there is anything that might involve one of the leading officers of the company (such as a CFO) as it is thought that investors need to know as soon as possible about something that might affect the running of the company.  This they did yesterday:

and it got picked up by 'wire services' such as Reuters, as well as the FT and the Telegraph.  The FT has got more details including:

so at least two papers seem to have been able to use a bit of reporting initiative.  Has anything appeared in the Manx media? - I can't find it.

Yesterday's Indi Rog

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You really would hope that someone in seemingly knowledgeable position wouldn't be stupid enough to use his/her own name and address when posting a class B drug. 

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3 minutes ago, benl said:

You really would hope that someone in seemingly knowledgeable position wouldn't be stupid enough to use his/her own name and address when posting a class B drug. 

^ it wouldn't be very nice to use someone else's name and address unless you were trying to get them into trouble.

Is there anything to stop that from happening actually? 

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37 minutes ago, piebaps said:

Yesterday's Indi Rog

Thanks - now online as well.  I suppose they have the excuse of 'holding it back' for the print Indy, but it doesn't explain the radio stations not picking it up earlier.

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Thanks for the explanation,  I just thought it was strange that the telegraph led with MT in their headline despite it having nothing to do with them.

On getting things posted to you that you shouldn't just get it addressed to a previous owner/tenant that you still occasionally get junk mail for :)

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