First it was the Ethical Investment Community, now it is the hard headed, and profit oriented institutional investors who have an eye on the bottom line who are beginning to get concerned about Wordsworth.
The trigger for these concerns has been a release by Wikidrain of a letter from Shiloh’s most senior management to that of Wordsworth, complaining about ineffective and over-costly management by Shiloh of the North Sea’s Dorothy Field, which is a joint venture between these companies. The letter was conciliatory in tone but appears to refer to some very acrimonious exchanges between the companies.
Wordsworth stock closed at 287, reflecting unloading of stock by several institutional investors.
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