Tingo Group has described the media report against Nigeria’s Dozy Mmobuosi; an emerging large-hearted entrepreneur and his group of companies as a calculated attempt to smear the good to smear the good intentions behind the great strides the Tingo Group is making to bring solutions to some of the multi-faceted challenges in contemporary global environment particularly in the African continent.
In a Statement issued on Wednesday, June 7, 2023, the Group said the media report published by Hindenburg Research, for all intents and purposes seems to be aims to put some clog in the wheel of progress for Mmobuosi, the Tingo Group Founder and Chief Executive Officer whose profile got boosted soon as he indicated interest to buy Sheffield United Football Club in England a few months ago.
The Hindenburg’s story already debunked by the Tingo Group largely gives some semblance of effort which is premised on hatchetry of some sort, thus leaving some space to wonder what might be the intentions of the writers.
According to Tingo Group “The report, which contains numerous errors of fact, together with misleading and libellous content, appears to be a deliberate attempt to undermine the positive work that Tingo Group is undertaking across various worldwide markets.
“As disclosed by Hindenburg Research, the report represents their own opinion, and is designed to benefit a short position taken by them and their associates from which they stand to realize sizeable gains. The Company can confirm that no attempt was made by Hindenberg Research to verify the allegations or otherwise make genuine inquiries concerning the information provided in the report prior to its release,” the Statement informed.
Tingo Group confirms that it remains in compliance with the laws of the territories in which it operates and maintains the highest standards of corporate governance. The Company also confirms that its accounting records are accurate and correct and that its financial results are accurately reported within its financial statements and its SEC filings.
The investor community has demonstrated its faith in Tingo Group on the basis of detailed analyses and reports prepared by leading professional advisors, financial experts and credit rating agencies.
“Tingo Group will respond in detail to the allegations made by Hindenburg Research in due course, but for the avoidance of doubt, the Company believes the report published today is a deliberate attempt to damage its reputation maliciously and unlawfully through the issuance of false, misinformed and distorted information for Hindenburg Research’s own financial gain and at the expense of the Company’s shareholders,” the Statement maintained.