By Nigel Somerville, the Deputy Sheriff of AIM | Thursday 9 March 2017
Disclosure: I own shares in one or more of the stocks mentioned. 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.
A brief line in an announcement by Crown Ocean has caught my eye in the latest twist in the battle to remove the useless board of AIM-listed Bowleven (BLVN). The board’s supposedly flagship farm-out transaction, with which CEO Kevin Hart expressed pleasure, seems to me have placed a maximum valuation of around $25 million on the company’s $100 million spent on Bomono. But I wonder whether major institution Artemis has sold out of the 14 million shares the market was told it held on Monday. If so, where is the TR-1, and did Artemis vote the shares against the board ahead of selling them to Crown Ocean?
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