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EXCLUSIVE: Shocker from Tern – Flexiant goes bust, but when did Tern know it had lost its money?
For all of yesterday’s ramping over Device Authority (formerly Cryptosoft) a big question mark is being hoisted over AIM-listed investment company Tern plc (TERN) after the arrival of some confidential documents at Deputy Sheriff Towers. It appears that Tern has been somewhat tardy with ‘fessing up to losses on its first investment, Flexiant Corporation Ltd. Oh dear….this looks poor. Very poor indeed.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 28 June 2016, 01:39 |
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Papillon Holdings – a new addition to the Sub-Standard Shockers XI squad…..but will it fly?
I’ll be honest with you, the Sub-Standard Shockers XI squad is always in need of bolstering with its plethora of suspensions, so I was thrilled to see the announcement last Friday of Papillon Holdings (PPHP) coming to the market via the Standard Segment of the Official List. However, I still needed to assess whether it was fit enough to get in to the team.
- By Cynical Bear |
- 28 June 2016, 01:27 |
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Craven House Capital: the astonishing RNS’s continue – now raising a further $150m - REALLY!
I have a simple rule when it comes to AIM investing. If I cannot fathom what is happening, then I stay clear and Craven House Capital (CRV), that I have covered a number of times HERE, is a great example as it has issued yet another RNS that leaves me equally astonished and baffled.
- By Cynical Bear |
- 28 June 2016, 01:09 |
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Teathers – where did 3 million shares suddenly appear from on the eve of EGM?
I just love Companies House. You can flick through so many companies in just a few moments and last night I came across a share allotment filing for ex-AIM Casino stock Teathers Financial (TEA) which turned up out of the blue only yesterday, and was filed on 25 June 2016 – just two days after Justin Drummond stepped down from the board. It seems that 3.05 million shares were issued on 29 Sept 2015. So why does this smell so badly of anchovy-stuffed rotting kippers?
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 28 June 2016, 01:06 |
Shall Shell Shares Soar? Sure They Should. (Trying Saying That Aloud)
Hello Share Cats. One thing the Brexit vote hasn’t attacked so far is the oil price. Well, Brent did go down a tiny fraction, but hardly worth noticing. And that could be due to world factors, anyway. Which reminds me that Royal Dutch Shell (RDSA) has risen for the two trading days since the Big Vote result was announced. I am a giant holder of Shell oil. It is the biggest lump in my portfolio. I already held a lot of Shell shares. Then it gobbled up BG and part of that deal was its handing over even more Shell stock.
- By Malcolm Stacey |
- 28 June 2016, 01:05 |
ValiRx – GM called as shareholders asked to vote again on pre-emption rights
I highlighted yesterday that it seemed to me that the failure of shareholders in AIM-listed cancer-buster ValiRx to pass a special resolution at last week’s AGM to disapply pre-emption rights cast a bit of a shadow over the company’s funding arrangements. In a move straight out of the EU rulebook on democracy, shareholders are to be given the (ahem) opportunity to vote again in the hope of coming up with the right answer this time.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 27 June 2016, 08:24 |
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Currency Debasement as the Real Driver Behind Gold & Brexit good news
We have had the deepest and longest decline in the history of commodity equity markets. Just recently we have confirmed a breakout in the space and there is much more room to run. The pattern is similar to 2002 where the mining stocks doubled and everybody thought they had missed the boat, when in reality there were years of powerful gains ahead.
- By Tom Winnifrith |
- 27 June 2016, 08:24 |
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Tom Winnifrith Bearcast - how much does a fishing rod cost?
I ask that question just to make a point about discretionary consumer spending and as part of a discussion about Fishing Republic (FISH). I also cover Domino's Pizza (DOM), Biome (BIOM), Foxtons (FOXT), EasyJet (EZJ) as well as more post Brexit coverage following up on points made at the weekend HERE
- By Tom Winnifrith |
- 27 June 2016, 05:09 |
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If you missed it - Tom Winnifrith recording as lightning strikes his house in Greece
If you are not one of our weekend readers you may have missed the drama of the thunderstorm in Greece which hit my house. As I recorded the Saturday bearcast lightning hit the small hovel in which I live in the Taygetus mountains. It is all too audible in the podcast.
- By Tom Winnifrith |
- 27 June 2016, 04:31 |
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Highlands Natural Resources wont answer damning Mendell evidence so talks Helium Horseshit instead
Highlands Natural Resources (HNR) is refusing to comment on the damning weekend expose HERE and hence its shares are tanking again - to 23.5p. It can stay silent on this matter but that just makes its shares even more uninvestable than before. I wonder if the regulators have got around to asking all about it yet? Instead, Highlands has published some total horseshit on its Helium assets it bought on 8 June 2016 for $91,050.73 and sold eight days later for £4 million in shares and £240,000 in cash in a bogus deal with Opera (OPRA) - HERE
- By Tom Winnifrith |
- 27 June 2016, 04:07 |
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The start of the beginning, Golden times and a DIY recession
I have said for a long time that accommodative monetary policy completely removes the burden from politicians that would require them to actually make difficult decisions around fiscal reforms, and now Standard & Poor's is saying the same thing.
- By David Scott |
- 27 June 2016, 03:13 |
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Poor Jocasta & Rupert are going to get fired - Foxtons Profits Warning (blames BoJo)
Oh dear, all those posh kids who were too thick to do anything else and ended up working at upmarket London Estate Agents Foxtons are going to get fired. It is almost P45 time for the young toffs as a dreadful profits warning is out today which, utterly unfairly, blames Brexit. Bloody Boris Johnson. He's not only screwed half the woman in London now he's fucked Foxton's too. The rotter.
- By Tom Winnifrith |
- 27 June 2016, 02:57 |
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African Potash shares crash - next stop 0.3p as exercised warrants are dumped, then onto 0p
Death spiral providers Bergen are vultures. They are not nice folks. They are not long term investors. But they are not dumb either. They know that shares in African Potash (AFPO) are set to crash and so today Bergen has exercised 63.7 million warrants at 0.3p under some old deal it had. Oh dear. The shares will be admitted to trading on Wednesday but Bergen won't be waiting for then. Oh no.
- By Tom Winnifrith, The Sheriff of AIM |
- 27 June 2016, 02:18 |
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Empiric Student Property - Navigating Brexit and interest rate uncertainty
Crossing the radar this morning is a Brexit-related trading update from Empiric Student Property (ESP). This is a new-ish REIT which has been listed for only two years. It has been a fairly steady performer so far, although the share price swung wildly around the referendum news.
- By Graham Neary |
- 27 June 2016, 01:49 |
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Catch Dominic Frisby on Tax in Edinburgh, I'm reminded of Mark Steyn on the Diary of Anne Frank
The UK Investor speaker, Moneyweek columnist and gold guru and professional comedian Dominic Frisby sends me a flyer for his gigs at the Edinburgh Festival. Unlike some want to be writers, such as Ben Turney who are accidental comedians in that we just laugh at them, Dominic really is a professional comedian and is very funny so if you are in Edinburgh this year go see him. His main gig is Tax!
- By Tom Winnifrith |
- 27 June 2016, 01:34 |
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FCA must clampdown on abuses of major shareholding notification rules
The procedure for notifying the market about holdings above a certain level in a company is supposed to make everything more transparent, but at times the opposite would appear to be true.
- By Gary Newman |
- 27 June 2016, 01:19 |
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Tesco - Performance Perks Up, Sector Still Difficult
My Tesco series continues as we take a quick look at the Q1 results issued on Thursday, and check the market share trends for signs of stabilisation.
- By Graham Neary |
- 27 June 2016, 01:16 |
Brexit - The Shares Which Could Rise and Those that May Fall.
Hello Share Dollies. We are entering the uncharted waters of Brexit. But captains of ships still have a raft (sic) of experience to draw upon, even when you don’t have a map. This is how Columbus discovered the Colonies. One thing - and they’re aren’t many of them - how I score over the vast majority of my colleagues is long experience of what has previously happened in our great game. I have observed the charts, day in day out for so many years that the only interruption of my studies is the couple of weeks when I courted Ann Boleyn.
- By Malcolm Stacey |
- 27 June 2016, 01:14 |
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Exclusive: Here is Teathers Financial Report and it looks...mixed
Jason Drummond assured us that the Teather's Financial 2015 annual report would look better than some folks feared HERE. But having signed it off, he has now quit (HERE) and having seen it I am not so sure.
- By Tom Winnifrith, The Sheriff of AIM |
- 26 June 2016, 08:47 |
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Tom Winnifrith Bearcast: Go ahead start sacking the investment bankers, I'd pay to watch
No lightning strikes today, thank God. What was he punishing me for? I start by discussing Richard Poulden's excellent letter on why folks are so angry so backed Brexit, but it is a wider issue as you can read here. Then I discuss liquidity in an investment company's portfolio, ref Teathers Financial (TEA) and finally I challenge the banks to make good their Brexit threat to fire investment banksters. I will pay for a ticket to watch but I explain why it was always a spoof. It won't happen.
- By Tom Winnifrith, The Sheriff of AIM |
- 26 June 2016, 08:30 |