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.
Earlier today I revealed in yet another scoop that POS China AIM listed company Auhua (ACE) was planning a placing at just 4p when its shares were trading at 13-15p. The discount told you everything. Broker WH Ireland knows this is just a shite investment and the only folks who will support it are flippers. And now Auhua has fessed up - the Sheriff was right. Yet again. Auhua states:
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Comments
DUCK AND DIVE
Correct. Thanks to ShareProphets’ excellent scoop, the BBMs could have exited above 12p at any time this morning.
The punters should study the form book before dismissing your advance warnings of placings…especially when the foreshadowed discount is so crippling.
Tom Winnifrith
And as for crony capitalists here is broker WH Ireland publishing a buy note on 30 Sept 2014. Remember the shares are now 5p
Auhua Clean Energy PLC stock had its “buy” rating reiterated by equities researchers at WH Ireland in a research report issued on Monday. They currently have a GBX 65 ($1.06) target price on the stock. WH Ireland’s target price suggests a potential upside of 140.74% from the company’s current price.
Abdiel
I think you must be congratulated for restaint Tom, when I read this I called them something a lot stronger.
BTW when are you going to get Wildrides to write some articles, obviously knowledgeable and usually funny
Michael
I’ve been through Auhua’s accounts and 75% of the shares were controlled by a couple of the Directors at the end of the last financial year through various off shore companies. Surely this is just a way of them increasing their ownership in the company (or maybe via some mate) at sub-market rates? Who else would buy them…