Princess Beatrice and other high-profile staff at Afiniti are set to miss out on a bumper pay day after the tech firm shelved plans for a stock market listing, the Daily Mail can reveal.
The company was looking to float this year in New York but in November founder and chief executive Zia Chishti stepped down after a former employee Tatiana Spottiswoode accused him of grooming her and then beating her during sex.
The scandal saw David Cameron resign from the company’s advisory board in further embarrassment for the former prime minister who was caught up in the Greensill scandal last year.
Afiniti, which was founded in 2005 and provides technology to call centres, was valued at 1.1billion and hired upmarket merchant bank Liontree to look into a Spac deal.
Spacs, which are shell companies which list on the stock market, raising millions from investors with the purpose of buying an existing company.
The float would have given Beatrice, Prince Harry’s old friend Tom ‘Skippy’ Inskip, former England rugby world cup winner Will Greenwood and Archie Soames, nephew to Nicholas and Rupert Soames, a considerable payday as all are understood to own minority stakes in the business.
Eton-educated Inskip is chief commercial officer and Greenwood is a chief customer officer in the UK. Soames is a managing director. A source close to the company said: ‘They’ve snookered themselves. The IPO is toast for now.’
It is not known if Cameron retained his stake in the firm after he resigned. The...
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