UK 17:57 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.
Due to the huge interest in my UK INvestor Show session "Why David Lenigas should be drummed off AIM forever" we are now miving this session to the main auditorium on April 30 2016. I would not want anyone to miss out. And if you needed further evidence of why the case is such a slam dunk here is a tweet from 48 hours ago:
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Comments
mhin
I thought I would post a few comments to David (whose maverick qualities I actually liked), but he is nowhere to be contacted- that does not inspire confidence (and contributes to acidic-like dissolving of the the very maverick qualities I liked). I must admit I made money from REM and UKOG, broke even on AFRI and Solo, lost a lot on LGO. Anyway such is life- you live and learn. I do wish I had found Tom and his analysis eralier (ie listened and Heard!). I sat (unknowingly) next to him at the final RRL presentation in London, but naively followed the board (some of whom, in retrospect, had `minders’ and there was heavy security- I ought to have picked up the signals) despite Toms questions.
So to the questions I wished to raise with David Lenigas about his companies his companies is in the form of a letter to David, rather than a statement/analysis.
`Dear David
Hope all is well and you and your families charities are thriving. In what was/is a very trying time on the small caps market you provided a glimmer of hope amidst declining commodity prices, market valuations and increasing exposure of `self-serving’ and ultimately unfit directors that were intent on self reward sustained by undelivered promises, compacency and external attributions for corporate failure/under performance (other companies have in aim have shown that performance even in the market meltdown is possible (eg MTR, KRS, 88E). Yet others like NEW, RRL, RGM, RRR, SER, AFR, MTV etc have shown how directorships indicate not competence, but the ability to float and self prosper in good times, but lack competence to prevent drowning. I thought, and believed, that you might be one of the cross business entrepreneurs that had vision, inspired competence and ensured integrity and honesty in entrepreneurial activity; timely reporting and honest dealings with smal shareholders. In reality REM has gone from 2p per share to 0.5p; Afri down at least 50%, Ukog (volatile), LGO 5p to 0.5p, Solo (0.8 to 0.4). LGO, in particular, has not been timely and honest in its reporting; it has allowed insider dealing and Mr Ritson has been playing a PR game in releasing good information amids a broad fanfare and disguising bad information in obfuscation, late reporting and in slow release and less conspicious spaces of corporate communication- ensuring legality, but not integrity.
As a consequence, I have lost all trust in Lenigas companies. I will trade where I can, but will aim to terminate any long term holdings I have. As you know, trust is diificult to build, but easy to lose- if this is how your associated companies consistently treat shareholders I cannot trust that you are ultimately interested in delivering shareholder returns- what is it that your companies deliver other than corporate salaries and the accreditation (or otherwise) of some unjustifiable identity to your chosen corporate leaders?`