By Nigel Somerville, the Deputy Sheriff of AIM | Thursday 29 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.
The broken record is still going with regard to ShareProphets AIM-China Filthy Forty play Taihua (TAIH) and its missing website, the share buy-back promised back in August (and funded from an Open Offer) and, of course, the update over related party receivables which the auditor wouldn’t sign off in last year’s accounts. Now, in the season of goodwill, it is time for one last missive for 2016 to the oxymorons at AIM Regulation with regard to compliance with AIM Rule 26. We just such nice guys here at ShareProphets, we just want to help.
AIM Rule 26 requires AIM-listed companies to make available certain corporate information (annual reports, details of major shareholdings, names of advisers, constitutional documents etc) to investors via the company website. Most companies manage this without too much difficulty as it is not that hard.
Unfortunately for Taihua, with the company website down for over a month now – for reason or reasons unknown – it is time for a little note to AIM Regulation to see whether a bit of a kick might be administered. As such I have dropped our good friends a seasonal note.
Dear AIM Regulation,
As we approach the end of 2016 I write to you once again in the hope that you will be keen to be seen enforcing AIM Rules with your usual fastidious efficiency. After all, as I am sure you will agree, if the rules are not to be obeyed there is little point in having them and we wouldn’t want the world’s most successful growth market to suffer the outrageous slur of being branded a Casino now, would we?
Thus I draw your attention to another member of the ShareProphets AIM-China Filthy Forty - one of only 17 now remaining after a rather alarming number were shown to be frauds. The company, Taihua (TAIH) has had an interesting year, and athough we have Red Flagged the company on a number of occasions here on ShareProphets no doubt all is well as there is no problem of fraud on the Casino.
As such I am sure that the fact that the company’s website (www.taihplc.com according to recent RNS announcements) has been down for over a month now, thus making compliance with AIM Rule 26 a little problematic, is nothing more than a small oversight.
But being such sticklers for detail, you will no doubt want to ensure that the company meets its obligations with regard to AIM Rule 26 as a matter of urgency.
It is the season of goodwill and, as the New Year approaches, thoughts of renewal are in the air. So I leave you with one final opportunity for you, in 2016, to be seen to do your job.
Perhaps one last hurrah for 2016 will help stiffen your resolve for 2017?
Your humble servant,
The Deputy Sheriff of AIM
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