The latest newsletter from SIGnet revealed the ShareSoc director for SIGnet had resigned from the ShareSoc board:
"This then brings us to Thursday 24th March. This was a tough day. It was with disappointment that I tendered my resignation as ShareSoc Director of SIGnet due to disagreements within the ShareSoc board . Not an easy decision but as investors, we all have plenty experience of tough decisions. I will now revert to my previous role within SIGnet helping and assisting both groups and members. I will now wear the badge of SIGnet Lead Group Co-ordinator."
“Disagreements within the ShareSoc board” do not sound great. Companies House in fact shows four ShareSoc directors resigning on the same day:
The outgoing directors included ShareSoc chair Sheryl Cuisia, who joined the board during September last year. The SIGnet director was appointed during August while another departing director had served on the board for less than two years.
To me at least, the newcomers look to have disagreed with the old guard. And the bust-up would appear significant given four of ShareSoc’s eleven directors decided to quit. I trust ShareSoc will soon publish a full explanation to its paying members as to what has happened.