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And the winner of this Year’s ShareProphets “bury bad news” Christmas sweepstake is…

By Ebenezer Scrooge | Saturday 24 December 2016


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.


Bah, humbug! Last year’s final trading session before Christmas saw the RNS system take an early bath, but this year it was in full flow right through to 6.30pm, even though the markets closed at 12.30. So who slipped out bad news as everyone was off doing their last minute Christmas shopping? And who went the extra mile by leaving the release of bad news right into the evening? We had some cracking entries on that score, and we have a winner to announce as regards the sweepstake.

We asked how many dodgy RNSs would be released yesterday, Friday, the last trading day before Christmas. Last year the answer was a rather sedate 12. But with a few miscreants taking full advantage of the RNS system rather ignoring all this revolting holiday malarkey by working a full day (too right, and I hope they did overtime too!) this year’s haul of party poopers was rather better. Here is the round-up:

Redcentric (RCN) – dire interims

Guscio (GUSC) – very dire FY numbers

Leverett (LVRT) – interims from pointless POS investment company with no investments: loss of £500k

Mortice (MORT) – proposes placing at 75p, 17% discount to previous close

Pategonia Gold (PGD) – production downgrade for 2016 at Cap-Oeste

MiLOC Group (ML.P) – Trading update = profit warning

Utilitywise (UTW) – NED dumps shares

Grupo Clarin SA (GCLA) – insider share dumping

Wandisco (WAND) – CEO/interim Chairman dumping shares

Dee Valley Group (DVW) – interims, passes dividend “pending outcome of takeover offers”. Negative NCA

Grand Group (GIPO) – finally gets last of overdue accounts out (interims to June) – big drop in NAV since 20151

US Oil & Gas (USOP) – joke accounts from joke explorer of joke prospect

Van Elle Holdings (VANL) – NE Chairman to step down next week

BOS Global (BOS) – admits won’t get accounts out on time so suspended

Caledonian Trust (CNN) – FY numbers, profits dive – but Chairman’s statement well worth a read

Asian Citrus (ACHL) – no progress in audit investigation after three months

Port Erin (PEBI) – awful FY numbers from Jim Mellon’s biotech/biopharma play

Churchill Mining (CHL) – disastrous update on legal issues (at 2pm!)

Avanti Communications (AVN) – annual report released: Red Flag central – stand by for Tom Winnifrith on this one – (2.22pm)

South African Property Opps (SAPO) – dire FY numbers (3.30pm)

TomCo Energy (TOM) – NED walks, effective year-end (4.25pm)

Kenmare (KMR) – loses $5m in legal case (4.45pm!)

TLA Worldwide (TLA) – profit warning, contract loss (6.26pm!!!)

 

And so we have a total of 23 bits of buried bad news released – quite an increase on last year. Of course some transgressions are more serious than others, and it really is top work from TLA and Kenmare which shows that the fine art of burying bad news really is being taken to new levels. No doubt as they dig into their turkey twizzlers tomorrow their shareholders will fully appreciate this noble effort to further the progress of this fine art.

And so to this year’s winner. We had entries ranging from just 9 up to 22 to add to my suggestion of 25 and 10 from the Deputy Sheriff (who was a mile off).

So it is hearty congratulations to Tom Henrick with an entry of 22 who was closest. As for that pesky Onitor from CloudTag (CTAG) as a prize, it seems to be unavailable. Hurrah - my reputation is intact. Hard cheddar, Tom Henrick.

It just falls to me, on behalf of all the companies listed above, to wish their shareholders a very Merry Christmas. You really know they care, don’t you?

Scrooge.


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