It was back in 2011 that I helped float Port Erin (PEBI) on Aim and indeed I was a director until 2012 when my stint as a crony capitalist ended in tears and failure. Today that company, now known as Agronomics (ANIC) is to delist with my fellow co-founder, Jim Mellon backing a take private move. Jim is doing the right thing. But is there a trading arb now opening up?
A tiny AIM investment company called Agronomics (ANIC) suddenly seems to have become very popular, but I think you’d have to be mad to be paying the current share price. If we look at it under its previous name of Port Erin Biopharma Investments (PEBI), before the recent change to Agronomics, it immediately becomes apparent that its main area of investments is in the pharmaceutical sector, with several listed and non-listed holdings...
Agronomics (ANIC) is an AIM listed firm which knew full well on Friday that it was set to raise £4.5 million at 5p - as against a 5.5p mid. So here is what to do. Leak the story to the fraudsters fave journalist, Ben Harrington, who will give it an utterly misleading write-up in the Mail on Sunday in return for the "scoop." MoS readers fill their boots on Monday and the shares move higher - they are now 6.5p. So Harrington and the Fail on Sunday get another "scoop", the Spiv clients of broker Peterhouse get to flip the stock and thank Peterhouse which earns 5% to pay for the coke and hookers and the company is cashed up. The only folk who get screwed are readers of the Fail on Sunday who are buying shares on the basis of completely fake news.
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