Xelleon Corrects News Release of Misunderstood EEG Term
A few weeks ago Xelleon PLC was asked by it's IR firm, Small Cap Consulting, to publish an article about all the steps they had taken to prepare for their IPO. It seems the template for the article was misunderstood by the company president.
Online, March 3, 2012 (Newswire.com) - The statement released today from the companies president Dale Scott Marion stated in his own words.
"I was given an outline to follow by our PR/IR firm and told to write in what we had done to prepare for our acceptance and listing to the frankfurt exchange, the article that was sent mentioned compliance to EEG regulation, which I misunderstood to mean Exchange Entry Guidelines, or European Entry Guidelines."
"Therefore I left the statement unchanged, in my haste, and due to working on an extremely hectic timeline for months on end, I assumed the article given to me was a template that was handed out by the IR firm to anyone qualifying in their list of clients."
"In fact, the error was not pointed out, or noticed by anyone at the IR firm when I returned the template filled in with Xelleons information."
"The matter was only brought to my attention by a shareholder who had read some gossip over the article written in German, which he found on a German gossip forum of some kind. The term EEG was only then explained to me by the shareholder, and the article referring to Xelleon, was edited further to reflect the correction."
"It was actually the first time, and will be the last time, that I use any templates coming from any IR firm to release news, I generally dictate all press to our marketing firm, or write it myself when I have the time to tell the world about what's happening in our company."
"Some purists believe that a president shouldn't be involved daily operations of a company, unfortunately, I do not share this view, and therefore I am taking full responsibility for the misunderstanding of the term in question."
"However, due to the fact that the article passed through the review of our IR firm as well, I will be taking this matter up with them, to prevent this type of misunderstanding from happening in the future."
Marion closed the letter by saying, "I'm very happy however that we are the topic of so many conversations, good or bad, I thank everyone for giving us so much press. It's because of you that we have potential clients finding out about our company, asking us questions, and turning into prospects, introducing us through their affiliates and bringing us more business. Keep up the great work, and thank you."
