UK 17:38 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Detail is slowly emerging from the farcical New World Oil & Gas (NEW) EGM in Jersey today. Criminal market abuser Chris Oil was not present - maybe his passport has already been confiscated. But Ben Turney was attending as were no less than four heavies from broker Cornhill Capital. The bottom line is, knowing that a show of hands would go against the company, it started the meeting by calling a poll - that is to say a vote of those actually casting votes on the two resolutions. However...
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
wildrides
Surely no one is naive enough to expect the board to announce the true count tomorrow . Shareholders will have to call a new EGM when the underhang is finally cleared and all the trades have been settled . Since this is currently mathmatically impossible the LSE will have to reverse and cancel trades until it is possible . Losers in this process can then sue LSE for running a debacle instead of a stock market and recover trading losses / gains incurred in reversal . That should be fun .
TW Note. I suggested reversing all trades 12 days ago. You, belatedly, now seem to want the same. Presumably to protect those long at 0.8p. Who is the flip flop now?Tom thinks the shorters caught naked should be looked after ………. let them hang I say . They knew the risks that they had authorised their discretionary fund managers to take on their behalf or they should have done . If naked shorts were taken out without their knowledge or outside fund rules they can sue . Tom does not give a dam about ordinary shareholders who lose out . Why should we longs give a dam about the naked shorters . Tom is the flip flopper . Flip the long share holders are mug punters , flop the shorters need their nappy changing and their bum wiping . Arrrrh didums did little shirty shorter get shafted did he ? ……… arrrrh ………. we longs are so upset …….poor liitle didums . Did they lose their house , wife leave them arrrh didums . Like that has never happened to a long holder of shares or an FX er ………….. the list is endless and endless , never ever ending .
Fipperty flop , flopperty flip , let the tide of new expletives wash over and cleanse my jaded soul .
I went down to the sea again , the lonely sea and the sky , I left my vest and pants there , I wonder if they are dry ?
Mark
Good call Wildrides, fully expecting LSE to force trading to resume as Mr Turney sort of said. It’s the only way the exchange can gain any credibility from this mess. Anything other will show the corruptness of Aim as a whole, what? Aim? Corrupt? Iv just slapped myself with a wet fish for saying such nonsense. Roll on the squeeze, roll on the shorters breeze, or should that be Hurricane. Tom have your read RRL chairmans letter to Shareholders, made me feel quite warm. We are going for a main market listing :-/
Phil
Wildrides
Playing the markets against market demand means there are winners and losers. You have a chance of winning and a risk of losing, these a share holder/trader/investor can play.
Playing abject maladministration whereby a shareholder can be wiped out by maladministration, in this there are no winners, only losers. If shareholders can sue then the act must be illegal.
This is a farce. I remember the farcical false start in the grand national. despite the jockey club dripping with money, crony and vested interest, when they had an official inquiry, who did the jockey club find to blame. Old Fred the guy with the false start flag.
Why your country, a modern successful one put anything into the hands of these tossers is beyond me, but all to often you do
Daniel Victor
Negative sum game – squabbling and falling out over assets of little/falling value.The rise in the share price was at the expense of those caught short.Sad that this should generate so much bitter argument. [ disclosure no position ever ]
J P Spaghetti
This may sound a little green around the gills, but maybe NEW should try appealing to the sense of decency and honesty of the share buying public (including CO) and institutions and request – respectfully and courteously, mind – that people who bought and / or went short after the placing return any and all the money they’ve since made as a result in order that those who lost out can be reimbursed. That way they can all start again, all would be as it was prior to the placing, this whole mess can be forgotten about and everyone concerned can move on as friends.
wildrides
Spags ………….. I want some of what you are smoking ;-)