Results

China FRAUD Aquatic Foods Q4 update: drowning in a sea of Red Flags

Published 9 days ago

ShareProphets AIM-China Filthy Forty purveyor of all things fishy, Aquatic Foods (AFG), has updated on 2016 Q4 trading this morning. In a statement plastered with Red Flags it would appear that the company is nearing the final chapter of the China Norfolk playbook as we are warned that there has been a spot of bother getting cash out of China. Is it bye-bye to the dividend? 

SCANDAL? Filthy Forty Taihua – Tender Offer at 3.28p sees Chairman dump the lot - at 200p?

Published 35 days ago

Shares in ShareProphets AIM-China Filthy Forty play Taihua (TAIH) are unchanged this morning on news of the result of its Tender Offer at 3.28p - paid for from the Open Offer last summer and conducted through the good offices of former Casino poster-boy and former Nomad Daniel Stewart (DAN). But we also see that company chairman Nicholas Lyth has dumped his entire holding. That’s already a bit of a concern, but then so is the statement that his disposal was not at the 3.28p everybody else got, but at 200p per share. What????

Open Letter to Pat Plunkett Chairman Providence Resources

Published 130 days ago

I cannot say that I agree with all that is said or written by Richard Jennings of Align Research but a letter he has sent to the boss of Providence Resources (PVR) is bang on the money. The time has come to fire Tony O'Reilly junior.

Craven House Capital – A proper “Big Hitter” joining the fun but is it all as it seems?

Published 175 days ago

On the face of it, great news was announced by my favourite oddity of the investment world, Craven House Capital (CRV), this week with the appointment of Richard Burrows as its new Chairman. Richard has a very impressive CV and I couldn’t help but wonder why he would take on such a role but with a bit of digging and a wild imagination, I reckon I’ve worked it out.

ShareProphets RNS Translation Service – Galasys booted off the Casino

Published 191 days ago

This morning the long running saga of boardroom civil war at Galasys (GLS) finally came to a sorry end as far as its Casino listing was concerned, as the company was taken for its one-way trip to the AIM Execution chamber a month on from the resignation of its Nomad, WH Ireland. You can’t say you were not warned to steer clear on this website as long ago as last December. As yet another notch is carved on the ShareProphets’ bedpost, the ShareProphets RNS Translation Service has taken a look at this morning’s RNS from the now delisted company (original in bold)…..

El Oro – surely this isn’t the end of a real life Sir Benjamin Dover?

Published 198 days ago

A strange RNS from El Oro (ELX) last week but I’m praying it doesn’t signal the end for one of my more enjoyable biannual reads, namely the Chairman’s Statement from Robin Woodbine Parish.

AIM SHOCKER: Galasys - AIM’s day of sickening shame as Chairman points the finger

Published 202 days ago

In a quite astonishing statement released yesterday, the non-exec Chairman of AIM death-row inhabitant Galasys (GLS), Mr Kim Seng Teh, has given his account of an unbelievable systemic failure on the AIM Casino to control the behaviour of the board of a member of the world’s most successful growth market. WH Ireland, as the Nomad responsible for this train-wreck until a few days ago, has a number of serious questions to answer, as does AIM Regulation – which, I hope, will be asking a good few questions of its own. I wouldn’t like to second-guess who is the villain in the boardroom and who is the innocent party, but I am sure of one thing: heads must roll in the oversight department.

Galasys – EGM called… oh dear, is it chairman versus CEO? And a correction….

Published 210 days ago

We have already noted that AIM-listed Galasys (GLS) appears to be minus a company secretary, minus a registered office, minus a Nomad, minus a Broker and minus a NED or two since the board declared war upon itself last year. Now it seems that two disgruntled shareholders have decided enough is enough, but the implications as to what has been going on are dreadful.

Filthy Forty – Univision prepares for court where there is only ever one winner

Published 214 days ago

The last time we covered ShareProphets AIM-China Filthy Forty play Univision Engineering (UVEL) is was in the wake of a profit warning regarding the trading performance of a unit it owned 52.25% of and was trying to sell. But there was also the threat of m’learned friends taking a slice as the jilted bride involved in the sale of a tranche of the company rattled the sabre. On Wednesday came this:

Yujin International moves from AIM to ISDX in RTO. Bargepole of the highest order

Published 219 days ago

I’ve no idea what AIM-listed Yujin (YUJ) got up to in its previous life, but its shareholders (who may be wondering the same!) are clearly in for a treat as it moves to ISDX doing an RTO, share consolidation, change of name, a new board comes in and new advisers are appointed. We may have thought we had seen the Dream Team on ShareProphets, but this one goes straight to the top of the pile.

Filthy Forty – Yet another AIM execution as number 23, LED, finally bites the dust two month late

Published 220 days ago

They are still dropping like flies. This morning the ShareProphets AIM-China Filthy Forty saw its 23rd victim as LED International Holdings (LED) had its one-way trip from AIM’s Death Row to the lethal injection room. There are now just 17 of the original forty remaining, of which one is currently suspended. This is an incredible indictment of AIM, and the recent history of LED is the sour cherry on the rancid icing on the mouldy cake.

Galasys – yet another corporate departure: what of corporate governance?

Published 226 days ago

Oh dear, just when things were going so well for AIM-listed Galasys (GLS)! Here we have a boardroom at war with itself, the provider of company secretarial services and registered office resigning (date now extended to this Friday) and joke accounts. Now, having seen its token Westerner walk from the board as independent NED last December, Mr Vincent Lai Tuck Yuen was announced to have stepped down as NED on Friday last week, effective immediately – apparently “due to personal reasons”.

Hooray!! Deputy Sheriff 1, Oxymorons 0 as F40 LED International heads to Death Row

Published 252 days ago

Marcus Stuttard, head of AIM! Xavier Rolet, head of the LSE. Oxymorons of AIM Regulation! Your boys took one hell of a beating, one hell of a beating!! Yes folks, it is game, set and match to the Deputy Sheriff as the immediate resignation of both the Nomad and the Chairman of ShareProphets AIM-China Filthy Forty play LED International Holdings (LED) was announced today at eighteen minutes past midday.

ValiRx – additional broker appointed, but carelessness remains the order of the day

Published 295 days ago

This morning saw AIM-listed ValiRx (VAL) appoint Beaufort Securities as Joint Broker. This coincided with a quarterly update RNS full of good news and Beaufort included a generous write-up in today’s morning note, with a “speculative buy” rating. All jolly good, but I fear that yet more errors have been made by the company.

Pssst! Ssshhhh!! Don’t mention the Fastjet EGM

Published 299 days ago

ShareProphets likes to bring you the news that companies don’t want you to see. In that vein we bring you yesterday’s RNS from the AIM-listed mile-high croc of **** with no CEO and which is running out of cash otherwise known as Fastjet (FJET) which was entitled Notice of AGM. To make things look really kosher it came out at 3.36pm on a Friday: no-one-is-watching o’clock. Whilst some in the square mile may already have been off lining up the Friday night coke and hookers, we were still watching. Blow me down with a feather, it wasn’t just a notice of AGM.

Filthy 40 MoneySwap – loan drawdown and a nasty read-across from PCG Entertainment which needs a full Steward’s

Published 302 days ago

Oh dear, oh dear. I have the utmost respect for Richard Poulden who had the grim task of overseeing today’s awful trading update from AIM-China play PCG Entertainment (PCGE) and like Tom Winnifrith I had hoped that his outfit might prove to be a rare winner on the Filthy Forty. My experience of him has been one of immense integrity a very sharp mind so it is with considerable sadness that I am writing this. But a bit more digging later, it looks just awful – although, I must stress, not on Mr Poulden - and there is a worrying implication on fellow Filthy Forty play MoneySwap which is already is considerable trouble. Sadly, I fear that AIM Regulation needs to do a full steward’s here.

DQ Entertainment – the Red Flags pile up. Writing, wall.....this stinks!

Published 417 days ago

Following the appearance of AIM-listed DQ Entertainment (DQE) in our Red Flags at Night series regarding the resignation of its Nomad and other matters, slipped out at no-one-is-watching o’clock on 3 Feb, we had a Director Shareholding RNS yesterday afternoon. It is a complex announcement, but it stinks. Certainly it did not give any reason to question the wisdom of the Nomad, Allenby, to step down on 22 Feb. The shares remain a big sell even after the collapse of last week.

Red Flags on New Year's Eve: Travis Perkins slips out Chairman's sale, but screws up the statement

Published 453 days ago

It's not often that a FTSE100 company makes the hallowed turf of ShareProphets - let alone the Red Flags at Night series, but Travis Perkins (TPK) managed exactly that by slipping out a big director share sale at 2.05pm on New Year's Eve. That truly is no-one-is-watching o'clock as it was even after the RNS system had closed down for the day. Worse still, the company looks to have screwed up the announcement and so having appeared to have gone to the trouble of hiding the sale as best it could, it will have now to restate the RNS when everyone is back at their desks next week. Bad luck, chaps - nice try.

Filthy Forty: Auhua Clean Energy – Chairman walks.

Published 533 days ago

ShareProphets AIM-China Filthy Forty member Auhua Clean Energy (ACE) reported this morning that its Non-Eec Chairman, Mr David Sumner, has walked. His replacement, Mr Raphael Tham seems to have already stepped into the role.  Oh dear.

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