Friday, 12 July, 2024
Tex Cycle: Quiet AGM, Loud Expansion Plans & Intricate Board Connections
Tex Cycle’s AGM was a rather quiet one with its CoSec chairing the meeting and none of its directors including the executive chairman spoke during the meeting. Its recent announcements suggest that this previously low-key PLC is in an expansion phase, driven by the emergence of new shareholders, fundraising activities, strategic business plans, and a proposed transfer of listing. However, the intricate connections and overlapping interests among its board members have raised concerns about its decision-making process, particularly its investment decisions.
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