Regular readers of our site are by now well aware of the TrustBuddy case. Both its operational success in the fast growing exciting P2P industry, but also the disastrous share price performance over the last 9 months. We are by now convinced, that something must be going on behind the scenes, which is causing the apparently everlasting oversupply on the sell-side, while “the little shareholder” is left in the dark. This is unacceptable for a publicly listed company.
Obviously a company cannot, and in fact should not, influence its share price. However, in the case of TrustBuddy, we are talking about a share price decline of more than 80% over the last months. What’s more, the decline has taken place during a time when the reported news and reports have by no means been negative. TrustBuddy’s most recent acquisition Geldvoorelkaar is funding more and more large projects, the expansion of the SME business to Sweden and Belgium has been announced, progress in the discussions with Swedish authorities regarding a license has been made, cost reductions have been implemented, a new credit scoring system has been launched – all with zero positive impact on the share price. On the contrary, the share is experiencing collapse after collapse.
In our opinion, the time has come that TrustBuddy’s management or Board puts all cards on the table. May it be internal quarrelling with former management (the name Jens Glasö comes to mind!) or even hidden skeletons in the closet (related to former management). In any case, silence is not a good advisor for TrustBuddy’s leadership. Sooner or later, the truth will surface and not having informed the public to full extend will have severe consequences for the parties involved. Nor can it be ok that one or several investors are massively pushing down the share price, for whatever the reason might be (acquisition?, takeover?). The TrustBuddy share price is under manipulation and it is time for the company to do its part to stop it!
We therefore welcome the recently launched initiative by a couple of motivated TrustBuddy shareholders. The TrustBuddy-shareholders initiative is a volunteer organisation founded in May 2015 with the purpose of uniting a significant portion of the shareholders, in order to gather feedback and deliver that in a productive manner to the TrustBuddy Board. So far, more than 5o investors have joined the initiative, representing around 6% of total shares outstanding. An initial goal is to reach 10% of the capital, in order to be able to block any major decisions, such as a ridiculously low takeover bid.
The preliminary charter has been drafted in June and is available on
so that those who are interested in joining can have a look and give their feedback. After the summer, there will be a meeting in which all who have signed up are welcome to participate.
If you have any questions, feedback and/or want to join the initiative, you can mail to: