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John Davidson

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my expertise in the industry

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You are all being taken for mugs. The sad thing is that it was obvious and predictable as Simon says and even now some of you will probably go along with it and agree to pay for the next 5 years to get a few free shares that are going to be worthless. Cut and run is my advice. Or throw your good money after bad to make Ian Springett and his Mayfair cabal richer. Simples.

From: John Davidson 04 August 2017 17:32 PM

Just take a look at the characters on their board to see why lying and cheating comes pretty naturally! I look forward to seeing which institutional investors put money behind a business that operates by restricting and threatening their customers so I can make sure my pension is kept well away from them! .

From: John Davidson 03 August 2017 23:09 PM

Indeed, spot on article Simon. I never understood what the guys at AM were trying to achieve or what problem they were trying to solve. It always felt to me like an idea conjured up by a group of old timers who wanted to turn the clocks back and pretend we were not moving to a digital world, in which we are well served by Rightmove, Zoopla, Google and others. This project was always doomed to failure and I suspect that you are right that now that AM has exhausted all the suckers within the industry willing to give them money and sign absurd contracts which damage their own businesses, that they will now be forced to find some new suckers outside the industry to give them more cash to pour down the drain. What an awful waste of £50m of my fellow industry members funds! The directors of this project should be ashamed of what they have done by dividing the industry, hurting their members with anti-competitive clauses, forcing members to stick with and pay them even though they don't want to and over-charging them 10x market value for a portal service. What kind of business survives by threatening its customers that if they wish to leave they will be sued? Not one that will be around for very long! Shame on them. As you rightly point out, they are a weak equivalent to others in the space in every way and that isn't going to change. The smart thing to do would be to call time on this failed vanity project but given the egos involved I doubt that will happen. Instead, they will no doubt find some external dumb money and spend the next 3 years wasting that too. Will be interesting to see if the directors and their respective businesses are willing to fund this venture significantly further...if not, then that in itself says a lot.

From: John Davidson 03 August 2017 21:30 PM

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