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'Imtech angers foreign investors with Dutch only conference call'

Monday 04 February 2013

Technical services group Imtech angered investors on Monday morning when its manager of investor relations refused to speak English during a conference call on its problems in Poland, the Financieele Dagblad reports.

The FD says Jeroen Leenaers told people taking part in the conference call he would only speak Dutch. The call was set up following the news that Imtech has taken a €100m write-off following possible fraud in Poland.

One analyst told the paper he suspected part of the 50% plunge in Imtech's share price was due to irritations over the language. The company gave a second conference call in English at 10.30.

Some 40% of Imtech's shares are in American hands, the paper said. Dutch investors own less than 20% of the company.

© DutchNews.nl


Readers' Comments

Well done Jeroen Leenaers. Quickest way to sink your business. If I was the CEO, I'd boot Jeroen Leenaers out ASAP. Id recommend all investors sell up and get out as quick as they can.

By Amsterdam | 4 February 2013 4:57 PM

It's stupid to be adamant about a language in this global world. Especially someone from investors relation team should communicate to all the investors and not only 20%.
If it was a political /union speech you talk in dutch to communicate to the majority.

By Ram | 4 February 2013 8:49 PM

He is indeed an idiot. Total disregard for shareholder interests. 50% share price decline? Deserves to be fired.

By Matthew | 4 February 2013 9:37 PM

How oxymoronically arrogant and typically Dutch!

“Investor Relations Manager Destroys Investor Relations By Refuses to Address Investors in a Language They Can Understand.”

How utterly and preposterously reprehensible!

If, after this stunt, the guy has the audacity and lack of ethics to still draw a pay-check, investors should file charges against him for fraud!

And if the company proves to be void of integrity by not sacking this moron immediately, investors should cut their losses, consider it an expensive lesson learned, and take their money elsewhere.

This kind of lunacy perfectly epitomizes the complete and utter across-the-board incompetence in every sector that has thrust the Netherlands into its current economic apocalypse.

By Anoni-mouse | 4 February 2013 11:22 PM

What was his CEO doing allowing him to behave like this? He can't have been the only IMTECH exec on this call so in my view the entire board is culpable. This kind of behaviour is not only stupid but criminal when you are representing an internationally listed company. The shareholders have every right to sue the board for deliberately damaging the companies reputation and international standing.

By Chris Tubbs | 5 February 2013 12:45 PM

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