I'm going to kick of off this blog with what I believe to be one of several red flags.According to the current appointments report from UK Companies House which I downloaded on the 22nd of October 2014. It states clearly in the filing history that on the 11th of August 2014 the company puts through a name change from Vasseti PLC to its new name of Zavarco PLC..................Why on earth would you do that ???
The company has been consistent and determined in building the brand name of Vasseti for many years now (which is normally accounted for as goodwill) and it up and changes its name without a solitary mention on any of their websites. I will do a separate blog post on the status of their atrocious and completely out of date websites.
The company is floated on the Frankfurt stock exchange, entry standard which simply means:
"Entry Standard is based on the rules of the Open Market (Regulated Unofficial Market), but it features additional requirements. For investors, this means increased transparency and more information. Companies contained in the Entry Standard have to publish an audited annual and management report on their website within six months after the official reporting period, as well as an interim report. Moreover, they are required to immediately publish any news or circumstances significant to the valuation of the share and or company". Note: This is a direct cut and paste from the Frankfurt Stock exchange website.
Let me draw your attention to the text from above which states that "they are required to immediately publish any news or circumstances significant to the valuation of the share and or company". In my opinion a complete and sudden name change from their long standing brand name of Vasseti to the completely unheard of Zavarco would fall into that reporting regulation which I have highlighted above, but yet we hear absolutely nothing. Why ?
This was one of the questions that I emailed to their Investors Relations Department and although they acknowledged receiving the question they will not answer it !!
What do you think ?
Feel free to leave a comment or share please.
Best regards.
RR.
