Simon English: For Shacklock, it's more bad news

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The Independent Online

Outlook The collapse of the BAE deal is bad news for lots of people, one of whom must be Tim Shacklock.

His Gleacher Shacklock investment banking firm was also one of the brains behind the float of Promethean, alongside those other banks-you-can-believe-in, Goldman Sachs and JP Morgan.

Promethean, which supplies interactive whiteboards and learning software to schools, floated in order to reduce debts, which is never a good reason to ask the rest of us for money. It did anyway, in 2010, at a tasty price of 200p.

This flotation was quickly a disaster as profit warning followed profit warning.

Yesterday the shares lost another 10 per cent and now sit at 18.25p. No, not a mis-print.

Mr Shacklock might say: you can't win them all. Indeed not.