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Monday 27 May 2019 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


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ShareProphets China AIM 'Filthy Forty' performance update – May & another suspended

Published 2 days ago

Following it previously noted, when will the next domino fall?, here's an update on the current ShareProphets China AIM 'Filthy Forty' situation...

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 6: now Danske Bank's due diligence comes under the microscope

Published 4 days ago

E24 in Norway has been having a right old go at Chris Rynning, the former boss of AIM-listed Origo Partners (OPP), having found that large amounts of cash disappeared into tax havens and investors in Origo were left wth almost nothing. In this latest episode, E24 looks at Danske Bank, which went in with NOK 0.9 million to Rynning’s venture fund, Nhack, to help entrepreneurs in China. But this year, like Innovation Norway, Danske Bank terminated the relationship.

Norwegian E24 goes after former Origo boss, Chris Rynning – parts 4 & 5: conflicts of interest?

Published 10 days ago

We have a double edition today of further articles released by Norwegian E24 as it continues to dissect the activities of Chris Rynning, the former boss of ShareProphets AIM-China Flithy Forty play Origo Partners (OPP). First up we have part 4, which looks further into his role as an adviser to Investinor (Norwegian state-owned) which seems to unearth a massive conflict of interests. Then we move on to Rynning’s lawyer who offered a reply...

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 3: due diligence?

Published 11 days ago

Chris Rynning, the former boss of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) can rest a little easier today as we continue to follow the fine work of Norewegian E24 as the scandal of Rynning and Origo continues. Today we learn that having left Origo, Rynning was helping Norwegian entrepreneurs get a foothold in China as Innovation Norway referred them via its own website to Nhack, another Rynning company, based in Shanhai. Of course, Innovation Norway had checked him out.....hadn't they?

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 2: the company credit card

Published 12 days ago

This gets worse and worse for Chris Rynning, the former boss of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP). Having discussed how a billion Kroner disappeared to tax-havens under this self-styled China expert, today E24 looks at the company credit card. If you thought Nilesh Jagatia of Teathers (TEA), Insprit (INSP) and Octagonal (OCT) was, ahem, generous (to himself), this appears to take the biscuit.

Norwegian Investigative journalism alive and kicking as E24 goes after F40 Origo’s former boss Chris Rynning

Published 14 days ago

I have covered the scandal of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) in some detail – see HERE. To cut a (very) long story short, it raised a pile of cash and seems to have lost almost the whole lot – apart from the generous remuneration and related party dealings – and the management paid itself a stack of bonuses just as the icing on the cake. New boss John Chapman has been forthright with what he found out on getting his feet under the table and now Norwegian outfit E24 has been looking into the original brains behind Origo, Mr Chris Rynning.

Filthy Forty Origo Partners – where’s the website gone?

Published 50 days ago

I noted last month that ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) had sacked its investment adviser, Origo Advisers Limited “for cause”. Now it seems that the company’s website has disappeared, as you can see HERE – which is, of course, contrary to AIM Rules. But before I get on my high horse, I would note a few things.

Filthy Forty Origo sacks Investment Adviser, shares gain 85% - someione is 'avin' a Turkish.

Published 72 days ago

AIM-China Filthy Forty play Origo Partners (OPP) has sacked its investment adviser “for cause”. Origo has been a total disaster for its investors, but a great wheeze for the investment adviser as you can see HERE: while shareholders have lost almost everything the adviser, Origo Advisers Limited (OAL), coined it in fees, bonuses and so on. You might wonder what took the company so long, but until recently the board was dominated by its investment adviser…..and then along came hero of the hour Mr John Chapman.

ShareProphets China AIM 'Filthy Forty' performance update – December & when will the next domino fall?

Published 160 days ago

Following it previously noted, Allenby a Nomad of choice with some of the few remaining 'Filthy Forty' constituents. Could similar action follow?, here's an update on the current ShareProphets China AIM 'Filthy Forty' situation...

ShareProphets China AIM 'Filthy Forty' performance update – October & the results season wasn't pretty

Published 215 days ago

Following a corporate results season, here's a October ShareProphets China AIM 'Filthy Forty' performance update...

KERBOOM!!! KERPOW!!! MAJOR AIM SCANDAL: hero Chairman John Chapman blows the lid on previous board and advisers at Origo – part 1

Published 239 days ago

I commented back in June, when ShareProphets AIM-China Filthy Forty investment company Origo Partners (OPP) announced its FY17 results that I underestimated the new board of Origo after new Chairman John Chapman tore into the investments made under the old board and advisers. Yesterday, as Origo got its interims out on deadline day, John Chapman tore into the old crew even more. The attack (totally justified, in my humble opinion) is astonishing – no “old school tie” behaviour here, it is utterly devastating. Mind you, given that the (now former) investment adviser had coined it to the tune of $31 million in performance payments by the end of 2014, and now Origo’s shareholders have just $13.6 million to share between them (as opposed to $81 million as at June 2017) with no dividends one has to think Mr Chapman has a point. Will AIM Regulation act? (Don’t laugh too loud….)

Filthy Forty – results deadline looms, will there be yet more casualties?

Published 247 days ago

Since there are now just seven companies remaining of the original forty, and with the end of September coming up I thought it high time to have a gander across the remains of the ShareProphets AIM-China Filthy Forty.

ShareProphets China AIM 'Filthy Forty' performance update – September & will companies results be delivered in time?

Published 258 days ago

Following the latest Walcom – defaulting largest customer pays up….well £34k and now in a corporate results season, here's a September ShareProphets China AIM 'Filthy Forty' performance update...

ShareProphets China AIM 'Filthy Forty' performance update – August & Walcom customer still not coughed up edition

Published 285 days ago

Following the latest Walcom – customer still not coughed up, now its off to the lawyers, here's an August ShareProphets China AIM 'Filthy Forty' performance update...

ShareProphets China AIM 'Filthy Forty' performance update – July & when's the Walcom customer going to pay edition

Published 304 days ago

Following earlier this month Walcom – surprise, surprise: the customer hasn’t paid yet, here's July's ShareProphets China AIM 'Filthy Forty' performance update...

ShareProphets China AIM 'Filthy Forty' performance update – post half-year & Naibu fraud update edition

Published 321 days ago

Following the half-year point and China AIM fraud Naibu – NEDs who failed & took their geld now take Pinsent Masons & Daniel Stewart to Court earlier today, here's a ShareProphets China AIM 'Filthy Forty' performance update...

Filthy forty Origo – reveals a true horror story. Ouzo? No thanks, I want the sick bucket

Published 331 days ago

I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.

Filthy Forty Origo Partners: FY17 numbers due tomorrow, another investment disaster clocked up

Published 333 days ago

On Tuesday 26 June, ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) fessed up that it had lost another boat-load of cash, this time on Kincorra Copper (TSX.V: KCC). Actually, it didn’t – we were simply told it had been sold for CAD 2 million (around US$ 1.5 million). It is not until you realise that the company had sunk US$ 8.5 million into Kincora that you see what a shambles that investment was.

Red Flags at Night Bank Holiday Special: AIM-China Filthy Forty Origo Partners

Published 365 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a stonking warning on Friday night, at 5.30pm going into a bank holiday. Talk about no-one-is-watching o’clock. I previously warned in the light of a previous warning (HERE) that the question was whether the asset realisations will generate anything at all for shareholders after holders of the Zeros (whose money appears not to be contributing to OAL’s new fees) have been paid off. Last night’s RNS suggests the answer may well be nothing.

AIM-China Filthy Forty Origo warns on NAV – ouzo time as shareholders brace for another spanking

Published 402 days ago

ShareProphets AIM-China Filthy Forty investment company Origo Partners (OPP) has updated the market this morning in a series of announcements which look to amount to a complete dog’s breakfast as far as shareholders are concerned. There is a new Nomad which looks to me to have been appointed in suspicious circumstances, there are proposals to change the remuneration of the company’s grotesquely overpaid advisors….and expected realisation amounts will be significantly less than the Company's last reported net asset value. What’s not to like!

ShareProphets China AIM 'Filthy Forty' update – HaiKe Chemical Group exit extending losers edition

Published 431 days ago

Previously updating, we noted from HaiKe Chemical Group (HAIK) “intention to seek shareholder approval for the cancellation of admission to trading on AIM. This has now been for EGM approval...

ShareProphets China AIM 'Filthy Forty' update – HaiKe 'geong, geong' & soon to be gone edition

Published 460 days ago

Previously updating, we noted HaiKe Chemical Group (HAIK) potentially in the 'geong, geong' stage. There has since been developments - and what does the 'Filthy Forty' look like now?...

ShareProphets China AIM 'Filthy Forty' update – 1 Geong, Geong & another now Gone edition

Published 468 days ago

Who's followed the likes of Geong International and co in 'Geong, Geong' and then Gone? Who's in the 'Geong, Geong' stage and what does the 'Filthy Forty' look like now?...

ShareProphets China AIM 'Filthy Forty' update – 2 more Geong, Geong & soon to be Gone? edition

Published 493 days ago

Another to be de-listed and another “exploring options for the future strategy of the company, including a cancellation from AIM and continuing as a private company”. Who's next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

ShareProphets China AIM 'Filthy Forty' update – New Year, New Departures edition

Published 507 days ago

Another year, another set of de-listing developments amongst the (few) remaining ShareProphets China AIM 'Filthy Forty'. Who's next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

ShareProphets China AIM 'Filthy Forty' update – good riddance Northwest Investment Group edition

Published 552 days ago

Another month, another set of de-listing developments amongst the (few) remaining ShareProphets China AIM 'Filthy Forty'. Who's next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

ShareProphets China AIM 'Filthy Forty' update – ZAI Nomad disqualification causing issues edition

Published 570 days ago

Since our previous update, ZAI Corporate Finance has had its nominated adviser status removed - causing further issues amongst the (few) remaining ShareProphets China AIM 'Filthy Forty'. Who will be next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

ShareProphets China AIM 'Filthy Forty' update – Pembridge Resources no deal complete, so move to standard listing edition

Published 643 days ago

Since our previous update, Pembridge Resources (PERE) has followed the likes of Geong International and co in 'Geong, Geong' and then Gone from the ShareProphets China AIM 'Filthy Forty'...

ShareProphets China AIM 'Filthy Forty' update – the frauds scrambling to get 2016 results out in time edition

Published 687 days ago

Since our previous update, most of the remaining ShareProphets China AIM 'Filthy Forty' companies have been scrambling to get results out in time, two further have been suspended and another (MoneySwap) has been booted off the AIM Casino - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...

ShareProphets China AIM 'Filthy Forty' update – EGM approval for MoneySwap to next de-list edition

Published 724 days ago

Since our previous update, another ShareProphets China AIM 'Filthy Forty' company in MoneySwap (SWAP) has seen EGM approval for AIM cancellation - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...

ShareProphets China AIM 'Filthy Forty' update – good riddance Taihua edition

Published 747 days ago

Since our previous (March) update, another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then Gone...

ShareProphets AIM-China Filthy Forty Update – unspeakable in pursuit of inedible edition

Published 789 days ago

With the demise of the twenty-fifth Filthy Forty listing, Asian Citrus (ACHL), as of this morning there are just 15 of our motley crew remaining listed on the Casino – and one of those, MoneySwap (SWAP), has now been suspended for more than six months, but it seems the Oxymorons have decided not to apply AIM Rule 41.

ShareProphets China AIM 'Filthy Forty' update – good riddance Jiasen edition

Published 817 days ago

Since our 24th September previous update, another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then Gone - and another has been suspended...

Filthy Forty Reporting Season Update: two down (suspended), six still to report as the clock runs down.

Published 970 days ago

Ten days ago we identified ten of the (only) seventeen still-listed members of the ShareProphets AIM-China Filthy Forty which had a results reporting deadline of tomorrow (Fri 30 Sept) to meet. Actually, it was eleven as although Asian Citrus (ACHL) has a year-end of March it is dual listed in Hong Kong and only gets three months to report its finals there. But it won’t make it and has been suspended – as has MoneySwap (SWAP) which can’t get its accounts out on time. Which of the Filthy Forty are still to report, with just one day to go?

Vote Now in the Filthy Forty Pongy Poll! Which will be the next F40 casualty of the Sept 2016 reporting season?

Published 975 days ago

Last year’s Sept reporting season saw a raft of casualties as members of the ShareProphets AIM-China Filthy Forty either failed to release numbers on time and/or saw the Nomad quit. With less than one week to go until deadline day for interims to June 2016 (or finals to March 2016) there are ten of the remaining 17 members of our iffy index still to report (or announce that they won’t). Which will be the next to get suspended?

ShareProphets China AIM 'Filthy Forty' update – further more than half our index not 'Geong, Geong', but Gone…

Published 975 days ago

Just over two months on since our previous update and two more ShareProphets China AIM 'Filthy Forty' companies have followed Geong International and co in 'Geong, Geong' and then gone - and another has been suspended...

Filthy 40 Origo Partners: "Notice of Results" = profit warning

Published 976 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a notice of results RNS on Wednesday, telling us that its interims to June 2016 will be released on reporting deadline day of Sept 30th. But the statement also had a massaging down of expectations slipped into it. Oh, alright, let’s call it a profit warning – but how bad?

Filthy Forty – interims deadline looms: yet more executions afoot?

Published 980 days ago

Of the original 40 AIM-China companies we identified as our ShareProphets Filthy Forty, the steady attrition has seen that number whittled down to just 17 companies. The period either side of the reporting deadline for calendar 2015 numbers (30 June) saw further departures, but last year’s interims deadline saw a queue for AIM’s Death Row develop. How are we looking this time?

Filthy 40 Origo Partners – still a bargepole ahead of EGM

Published 982 days ago

A week on Monday sees ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) put a series of proposals to its shareholders which it hopes will finally draw to an end the ongoing dispute with Brooks Macdonald in relation to the non-redemption of a tranche of its zeros dividend convertible preference shares. The last effort at this ended up with shareholders defeating proposals aimed at a resolution, but perhaps this time – with the threat of an orderly wind-up under the watchful eye of the Isle of Man Court in mind – perhaps it will be different this time. But the shares remain a bargepole in my view.

Infrastructure India plc – Oink oink, corporate piggery writ large on AIM

Published 983 days ago

Well this looks too good to be true and, as with the China Frauds, I fear that it probably is. AIM-listed Infrastructure India (IIP) announced a new asset manager agreement yesterday morning under which Franklin Park Management LLC will be paid a cash fee of £5.52 million a year, plus 605,716 free shares under a deal which appears to be for a minimum period of about four years. That seems quite steep for a company with a market capitalisation of just £82.5 million (source: ADVFN).

Origo from the Filthy Forty – Execution No. 24 pencilled in for a week on Monday as photos arrive at ShareProphets Towers

Published 997 days ago

It rather looks as though the ShareProphets AIM-China Filthy Forty is set for its twenty-fourth execution, in the form of Origo Partners (OPP) which has now been suspended pending financial clarification for just under the six month period which triggers automatic delisting under AIM Rule 41 (if, that is, the Oxymorons at AIM Regulation bother to enforce it). The ouzo is on ice.

Filthy 40 Origo Partners – settlement deal on the table (again)

Published 1009 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) has had its shares suspended from trading pending clarification of its financial position since 11 March this year, and with a six-month timetable to AIM execution due to expire next month things were looking dire until a no-one-is-watching o’clock RNS at 4.50pm yesterday. It seems as though there may be some light at the end of the tunnel. Has the Filthy Forty turned up some good news? I rather suspect the answer to that may just be yes.

ShareProphets China AIM 'Filthy Forty' update – now more than half our index not 'Geong, Geong', but Gone…

Published 1045 days ago

Approaching two months on since our last update and another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then gone - and another has announced its proposed departure...

Filthy 40 AIM Casino Elimination Stakes – you were right! (so far…)

Published 1058 days ago

It seems that Yougov, Mori and whatever else the pollster are called these days have a thing or two to learn from ShareProphets polling. They keep on getting it wrong, but our readers responded to the question of how many delistings and suspensions were coming on the ShareProphets AIM-China Filthy Forty over four weeks from 17 June and half of respondents said two or three. So far, it is bang on. Mind you, there are still a few days to go.

Filthy Forty AIM Casino Elimination Stakes: now in the final furlong but a loose horse has already crossed the line!

Published 1061 days ago

The race to see which of the twenty remaining ShareProphets AIM China Filthy Forty companies clocks up a suspension/delisting is hotting up as we enter the final furlong. Yesterday saw the loose horse of Grand Group (GIPO) – a non filthy forty runner but an otherwise well qualified AIM-China play nonetheless – cross the line first with a suspension as it can’t get its accounts out on time. But with a surprise late run GTS Chemical (GTS) now looks clear of the field as they head for the line after announcing plans to delist in August, subject to the forgone conclusion of a vote at its AGM.

Filthy Forty AIM Casino Elimination Stakes – update as the race enters the final stages

Published 1063 days ago

I previously highlighted that a good few of the twenty remaining ShareProphets AIM-China Filthy Forty faced a reporting deadline of Thursday this week, 30 June. In honour of Royal Ascot we ran a poll which showed that readers of ShareProphets reckoned on two or three suspensions/delistings to come over the next (now) just under three weeks. The race has now entered the final three furlongs…how are the runners and riders looking?

Reader Poll: Hooray, it’s Royal Ascot! Place your bets for the Filthy Forty AIM Casino Elimination Stakes

Published 1074 days ago

ShareProphets is delighted to bring you the Filthy Forty Casino Elimination Stakes in celebration of Royal Ascot - it is time to place your bets! Which of the twenty remaining members of the ShareProphets AIM-China Filthy Forty will be suspended, head over to AIM’s Death Row following a Nomad resignation or be executed over the coming four weeks?

ShareProphets China AIM 'Filthy Forty' update – half our index now not 'Geong, Geong', but Gone…

Published 1101 days ago

A couple of months on since our last update and more ShareProphets China AIM 'Filthy Forty' companies have followed Geong International and co in 'Geong, Geong' and then gone...

F40 Origo Partners set to remain suspended until (at least) late July

Published 1142 days ago

On Friday at 5.36pm, no-one-is-watching o’clock, ShareProphets AIM-China Filthy Forty member Origo Partners (OPP) updated on court proceedings in the Isle of Man with regard to the winding-up petition presented last month.  The trial date is set for Friday 22 and Monday 25 July, which means that shares in Origo will remain suspended pending financial clarification until then. Unless, of course, Nomad Smith & Williamson decides enough is enough and resigns.

ShareProphets China AIM 'Filthy Forty': Easter 2016 update - more 'Geong, Geong' & set to be 'Gone'…

Published 1158 days ago

Another month, more ShareProphets China AIM 'Filthy Forty' companies set to follow Geong International and co in 'Geong, Geong' and then gone...

F40 Origo – a history lesson in reading Admission Documents

Published 1169 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) remains suspended pending financial clarification as shareholders face a grim high noon in the Isle of Man courts when the majority holder of (now defaulting) zeros looks set to get the company forced into wind-up.

Filthy Forty Origo suspended pending clarification: Kill number 23 out of 40, 17 to go.

Published 1172 days ago

Well you can’t say you weren’t warned: ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) was finally suspended pending clarification of its financial position this morning. It was blindingly obvious that this - or a Nomad resignation - was inevitable. I hope anyone unlucky enough to hold this POS managed to get out even if only with a bag of Tesco Value crisps. Perhaps I should head to Bristol and claim a glass (or two) of Ouzo to toast the Filthy Forty’s 23rd suspension/delisting.

F40 Origo faces winding up order. Why are the shares still trading?

Published 1173 days ago

It comes as no surprise at all. ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) had already made no secret that it would be in no position to meet a required $12 million redemption on its Zeros by Tuesday's deadline, which would constitute a default. Why the shares are still trading is beyond me. Surely if Nomad Smith Williamson cannot secure a suspension pending financial clarification it could just resign in order to force the issue. But it gets worse.

DISGUSTING & SHOCKING: F40 Origo Partners – Where did all the money go?

Published 1176 days ago

A sickening email arrived at ShareProphets Towers regarding AIM-China Filthy Forty play Origo Partners (OPP). It begs all manner of questions and casts a dark shadow even by Filthy Forty standards. Who got all the money?

F40 Origo - last chance for the Walkers?

Published 1176 days ago

Tomorrow is an important deadline for ShareProphets AIM-China Filthy Forty play Origo Partners (OPP). It has a $12 million bill to pay and the company has already warned that it hasn't got the cash. The payment was due to be made to satisfy a planned partial redemption of Zeros. Suspension pending financial clarification, anyone?

ShareProphets China AIM 'Filthy Forty': End Feb 2016 update - yet more companies Geong, Geong, Gone…

Published 1182 days ago

The following updates our China AIM 'Filthy Forty' table as at the end of February. Despite the utterings of the London Stock Exchange and George Osborne, more of the companies Geong, Geong, Gone? You bet…

F40 Origo - Trading Statement: how long until suspension pending clarification, or will Nomad walk first??

Published 1185 days ago

At 12.41pm today ShareProphets AIM-China Filthy Forty commodity investment company Origo Partners (OPP) issued a trading statement which reads like a suicide note. One wonders how long this one has left on the Casino: will it be suspended pending clarification, or might we see the Nomad, Smith & Williamson, walk the plank first?

F40 Origo Partners: The Noose Tightens

Published 1196 days ago

I previously commented (HERE) in the wake of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) seeing shareholders reject proposals aimed at settling a dispute with the majority holder of its Zeros, Brooks Macdonald, that the company seemed to have a bit of a problem. In particular, one might note that the company had already ‘fessed up that it would not be able to meet scheduled redemptions next month. Now Brooks has made a move as the noose tightens.

Tom Winnifrith's top 11 AIM stocks to fall by 100% by the summer

Published 1205 days ago

There is no shortage of AIM Casino stocks that deserve to go bust, that are bust but won't admit it (yet) or which are teetering on the brink. Most will somehow be saved by yet another mega dilutive fund raise. But for some 100% equity wipeout is the only way forward. And so here in no particular order are eleven to go to zero or as near as damn it, by the summer.

F40 Origo Partners – is it bag of crisps time? 0p ahoy?

Published 1207 days ago

This surely is terrible news for shareholders in ShareProphets AIM-China Filthy Forty play Origo Partners (OPP): an RNS shortly before close of play yesterday saw the announcement of the results of a series of meetings which had been called to consider the restructuring of a series of debts (or, rather, convertible zero dividend preference shares). The holders of the zeros voted it through but, oh dear, those pesky ordinary shareholders did not. The result: Origo could be toast.

China AIM 'Filthy Forty': End 2015 Performance Update (more Geong, Geong, Gone)...

Published 1237 days ago

With our previous China AIM 'Filthy Forty' performance update, to mark the cancellation of Geong International, we asked 'Who's next to be Geong, Geong, Gone?' The answer has been...

Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update...

Published 1302 days ago

Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update. So far 15 down and 2 on the way out. Only 23 left standing. The average loss since IPO is a mere 46.4%. Strip out the two best performerers and two worst and the average loss is 82.5%. Shocking. So who is next for the high jump?

F40 Origo finally corrects over currency (a week after we did)

Published 1304 days ago

ShareProphets AIM-China Filthy Forty member Origo Partners (OPP) announced last week that it had rolled over a loan to $2.5 million loan to TSX-listed Kincora Copper Ltd, but it got the currency wrong (it was CAD$, not US$ as stated). We pointed this out a week ago and yesterday the company (and its Nomad, Smith & Williamson, which no doubt checked and verified last week's foul-up of an RNS very carefully) has finally 'fessed up to the error. Seven days later.

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 5 - more disaster

Published 1305 days ago

Graham Chester continues his stinking series on Reporting Accountants to UK-listed China plays with a look at Team Quigley at Smith & Williamson – the one-stop shop for Chinese companies coming to the UK. How do their clients fare? Er….

More on that Filthy Forty Origo loan of US$2.5m. Or CAD$2.5m. Can it ever get repaid?

Published 1311 days ago

I’ve already covered the Filthy Forty AIM-China Origo Partners (OPP) RNS yesterday regarding the rolling over of a loan to Kincora Copper Ltd and whether it is US$ or CAD$. But there is more to this. For a start, Kincora announced to the market that it intended to settle the loan (and interest thereon) in shares! Except that it then retracted that statement. The question is why Origo did not convert the loan into shares, and why it went for the roll-over option instead. Is it anything to do with the likelihood of it ever getting repayment?

Filthy Forty Origo Partners updates on US$2.5m loan. Or is it Canadian $?

Published 1312 days ago

There seems to be a spot of confusion at ShareProphets AIM-China Filthy Forty member Origo Partners plc (OPP).  Today it updated the market on an outstanding loan of US$2.5 million to investee company Kincora Copper Ltd which due for repayment on 19 July. It has been replaced by a new loan of US$ 2.5 million. The confusion is that in its interims statement, the loan was described as being CAD$2.5 million. There’s a bit of a difference (about 30% at today’s exchange rates, source: Google).

UPDATE - ShareProphets ID Parade: two companies still to report on deadline day.

Published 1335 days ago

We started the week awaiting interims and FY results from 14 of the ShareProphets AIM-China Filthy Forty. Following this morning’s round of 7am RNSs we still had five of the Filthy Forty to come, and Daniel Stewart (DAN). 

ShareProphets ID Parade: companies still to report numbers on deadline day as suspension looms.

Published 1335 days ago

We started the week awaiting interims and FY results from 14 of the ShareProphets AIM-China Filthy Forty. Following this morning’s round of 7am RNSs, who is still to report? And there is one other we await with considerable interest – the FY results from Daniel Stewart (DAN). Any of the companies which fails to report by the end of the day will be suspended from trading on the Casino.

ShareProphets AIM-China Filthy Forty: who will be next to join the AIM-Casino Death Row?

Published 1336 days ago

As flagged up at the weekend HERE there were fourteen AIM-China stocks still to report by the deadline of tomorrow (Weds). It is now Tuesday and we have had just three so far- China New Energy (CNEL), GTS Chemical (GTS) and Asia Ceramics (ACHP). More on those to follow. But already we have had another one join Sino-Casino Death Row in the form of Camkids (CAMK) (see HERE).

Origo Partners – AIM-China Filthy Forty member restructures debt

Published 1336 days ago

I flagged HERE that AIM-China Origo Partners (OPP) had a bit of a problem with some zero dividend preference debt. This has now been resolved with the announcement of a restructuring of the liability, subject to various conditions – not least of which is a GM. But still there are Interims to come by tomorrow in order to avoid suspension. Following a 60% decline in net assets as at FY14, will we be once again singing Where has all the money gone?

Filthy Forty – more fun and games to come this week as 14 reporting deadlines loom

Published 1338 days ago

It was a storming week last week on the ShareProphets AIM-China Filthy Forty. But there is more to come, for Wednesday sees the end of the month and the reporting deadline for any company with a half year to the end of June, or a full year to the end of March. So what is there to look forward to?

The China AIM Casino Filthy Forty is launched – be shocked

Published 1381 days ago

We today launch the China AIM Casino Filthy 40 – a way of tracking what a fraud ridden mini cesspit this is. The findings and the tables below will truly shock you and shows what fantasists the idiots running the London Stock Exchange are.

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