By Steve Moore | Monday 13 October 2014
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.
At the inauspicious time of 6:02pm on Friday, currently suspended from AIM, SnackTime plc (SNAK) announced a, conditional on General Meeting approval, “subscription of 12 million new ordinary shares at 15 pence per new ordinary share, by Versatel Co Ltd, a company associated with Mr Boris Belotserkovsky, raising a total of £1.8 million (gross)”. Adding that “following admission the Belotserkovsky Concert Party will be beneficially interested in 17,266,400 ordinary shares, representing approximately 53.7% of the enlarged share capital”, the following reviews.
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