Tracking

Tuesday 25 January 2011

Do NOT invest in International Mining and Infrastructure PLC (IMIC)

Foolishly I bought some shares in this company the other day.Then suddenly the sp started to drop and continued dropping. I bought at 0.69p and today the sp is 0.42p!!
Last Friday I rang the company to find out what news there was and asked too speak to Mr Haresh Kanabar, the Chairman. He was not there so I spoke to Mr Lakhani the Financial Director. I asked about business news but he was unable to tell me anything other than that a 6 month interim statement was due soon. He said he would pass my views onto Mr Kanabar.
I checked on a few bulletin boards and found nothing useful so all day yesterday and all day today I have been ringing them but the phone is permanently engaged!! Its as though its been disconnected.
I checked the Stock Exchange site and logged onto their website but it is for the previous company and not for  International Mining and Infrastructure PLC. There is no address, email, contact us details - nothing.
Fortuneately I am not heavily invested so I suppose I will have to write it off to experience. Very irritating though. Moral being Research before investing!!!

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