Blancco fell from grace recently and its share price nosedived. The first obvious sign of trouble was the very sudden departure of its CFO after only 6 months in the job and only a few weeks after he had spoken very publically about his enthusiastic engagement and the once in a lifetime opportunity it represented. The company's subsequent explanations of this departure seemed somewhat thin to me.

Then came the revelation that the company had encountered cashflow problems and needed to raise an embarrassingly trivial amount in order to keep its show on the road. This indicated both incompetence in cash management and also possibly a strained relationship with bankers and backers. I would have expected a simple phone call to the bank to increase the overdraft slightly on a temporary basis. Instead of which they undertook a placing to raise a paltry 10 million.  That   struck me as an expensive sledgehammer to crack a rather small nut.

Today I see that the chairman has just resigned after less than 3 months in the role.

He had been a director since 2013 but took on the chairman's job in March 2017 on the retirement of the previous incumbent. Is it feasible that his departure is just happenstance? Are we going to receive another thin explanation?

I have to say that this is a big red flag. Another big red flag. The fourth in a series. (CFO; cash shortage; emergency placing; Chairman)

I cannot believe that today's news is unconnected with recent previous events. Something appears to be wrong here.

I have no position in Blancco. I did buy shares some months ago because I like/liked the product and the numbers looked good to my inexpert eye. But I sold when the first red flag was posted.

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