In The Style Group – AIM Awards-shortlisted ‘Diversity Champion’ and ‘Best Newcomer’… so a profit warning (natch!)
Attis Oil & Gas (AOGL) formerly Mayan Energy and Northcote Energy has long been a stain on the underbelly of the AIM casino. Today it enters a new chapter of infamy and once again the architect is broker Peterhouse Corporate Finance. Before today there were 3.9 billion shares in issue. Now, following a debt for equity swap and a placing at just 0.0115p, there are 14.7 billion and Peterhouse has been given enough warrants to take the fully diluted total to 15 billion.
News last week that AIM diluter in Chief (and that’s saying something!) Charlie Wood of Northcote Energy/Mayan Energy/Attis Oil & Gas (AOGL) reincarnations has departed stage left at Attis brings to a close a quite unprecedented record of dilution on AIM. This individual raised more than £15 million over the last few years and, in the final analysis, produced the grand sum of just over £100,000 cash at the last set of interim results and a de minimis amount of oil from the company’s Texan oil fields. If ever there was an abject illustration of how AIM is run for the cosy cartel of Nomads, brokers, PR companies and inept management rather than shareholders this is it.
Search ShareProphets |
Recent Comments |