Keyword results: Cornhill Capital

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Alpha Growth – another shocking example of the poor behaviour on the Standard List of the LSE Main Market

Another shocker from the Sub Standard list and once again Pello Capital, the broker formerly known as Cornhill, home to some real low-life scumbags, the sort of imbeciles who troll you on Facebook, is involved. That is a red flag for starters.

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SHOCKING: Papillon Holdings - Tatnall and Longley are bare-faced liars. Lock ‘em up!

Sub-Standard Shocker XI member, Papillon Holdings (PPHP) has been a horror show from the beginning, as I have highlighted a few times, most recently HERE, but the massively delayed announcement of the results on Tuesday this week shows Tatnall and Longley to be low-rent lying fraudsters and investors should be clamouring for their money back.

Strat Aero - reality setting in - do not BUY!

I warned you in explicit terms yesterday that the doubling of the Strat Aero (AERO) share price to 0.14p on the back of results which can best be described as a shit sandwich with dollops of jam tomorrow on top, was not justified. The shares have now slumped back to 0.09p-0.11p (TW 7, BBMs 0 once again) but do not BUY now for there are still deluded fools abroad.

Strat Aero - shares double on results but the company is almost bust - placing ahoy!

Shares in Strat Aero (AERO) have almost doubled today to 0.14p which amazing as the final results for calendar 2016 are out and are utterly crap. Okay they are less crap than 2015 but they are crap and indicate that the company must be as near as damn it, bust. Yes we are promised more jam tomorrow but before we get there surely it is placing ahoy?

BNR
BNR

Blenheim Natural Resources is being pumped hard after the recent placing

Blenheim Natural Resources (BNR) may have seen a large increase in its share price, but in my opinion it is still one to avoid and was basically insolvent on paper prior to the recent placing, and had been for several months!

ADL
ADL

Andalas: the 4th Ramptastic Announcement in 6 working days - PLACING AHOY

Hey Justin the Clown if you want to average down in Andalas Energy (ADL) get out of the homeless shelter and open an account with Cornhill Capital because its placing ahoy time here. Not only is the company almost out of cash but its shares are slipping (now more than 90% down since THAT podcast) at 0.11p to sell. When shares slide after 4 ramptastic RNS statements in 6 working days, supplemented by the Clown ramping away at the Vox vipers nest of rampers, you know what is afoot. And so today we have some more non news dressed up as a world changing event.

AXM
AXM

Is the appointment of a new broker a sign of more dilution to come at Alexander Mining?

When it comes to small AIM companies the appointment of a new broker can often be an indication that dilution is on the way, and I have to wonder if that is the case with Alexander Mining (AXM).

African Potash - naming & shaming City advisors who knew investors were being mislead by FRAUD! ( new email arrives)

My man in London has provided me with a new email sent by African Potash (AFPO) CEO lyin' Chris Cleverley. This now allows me to publish the contract signed with Beryl Holdings, so demonstrating to you all how misleading the announcement by Potash was and also the bung involved in this deal. More critically I can now demonstrate the individuals at City firms who were aware how misleading the RNS was and - given that Potash was on the pathway to a placing - how fraudulent that is. Those City figures I name and shame should now all be placed on immediate workplace suspension ahead of a formal enquiry.

AXM
AXM

Alexander Mining has more dilution to come

Alexander Mining (AXM) seems to be popular amongst PIs at the moment, but I wonder how much of that actually relates to the performance of the company rather than being linked to the recent placing and warrants!

ADL
ADL

Andalas Energy - Disgusting Greed, Cornhill, gaps in the AIM document & cash crisis looming

I suspect that few of those idiotic enough to take part in the 0.2p £2.6 million placing by Andalas Energy (ADL) will have bothered to read as far as page 113 of the AIM readmission document. Prepare to be horrified.

Newsboy

Exclusive: Cornhill Capital broker involved in Liverpool Street Child sex attack?

25 days ago a 12 year old girl was the subject of what was described as a "sexual assault" at Liverpool Street Station in the City. The attacker was said to have been intoxicated and to have fled the scene.

NEW
NEW

Exclusive: letter sent from Cornhill Capital to clients re. losses suffered from New World forward selling fiasco

The New World Oil and Gas (NEW) saga is something that I’ve avoided making too much comment on, but now find myself in possession of information pertinent to it. Below I provide a copy of a letter that has been sent to me, which was sent from Cornhill Capital to its clients about the losses they suffered as a result of forward selling New World's unconfirmed placement. 

NEW
NEW

New World Oil & Gas shares start trading and crash – are they a buy? And what happens now?

New World Oil & Gas (NEW) shares were suspended at 0.24p because of the inability of shareholders to get trades settled. Following a £3.5 million fund raise at 0.09p that seems to have been settled and the shares have restarted trading today, duly crashing to 0.08p -0.1p. Questions, questions.

NEW
NEW

New World Oil & Gas returns to trading tomorrow. Have the shysters got away with it?

We’ve just heard that New World Oil & Gas (NEW) returns to trading tomorrow.  Denzil Jenkins, the Head of UK Compliance and Regulatory Policy for the London Stock Exchange, is now going to have to prove that his job isn’t just a pointless paper pushing exercise. Having failed utterly to enforce its three rulebooks (“Rules of the London Stock Exchange”, “AIM Rules for Nominated Advisers” and “AIM Rules for Companies”), the embarrassment the New World forward selling fiasco has caused to the London Stock Exchange is acute. There are now serious questions about the integrity of the exchange and the viability of the AIM model of self-regulation. Private investors have lost millions of pounds to the regulated City perpetrators of this mess. And so far nothing has been done.

MXO
MXO

MX Oil: a controversial related transaction but can the people behind Cornhill regain the market’s trust?

What constitutes a “fair and reasonable” related transaction? This is the question shareholders in MX Oil (MXO) should be asking themselves after discovering on Monday that their company has agreed to pay Cornhill Asset Management a $1.8million bonus for sourcing the 5% stake in the OML 113 licence, offshore Nigeria. The $1.8million, contingent on two relatively minor conditions, is an extremely generous reward to Cornhill and its shareholders for an investment made less than six weeks ago. There are further difficult questions to answer about this transaction so I contacted Andrew Frangos, CEO of Cornhill Asset Management and Chairman of MX Oil, to see what he had to say.

NEW
NEW

New World Oil & Gas – unsettled positions being settled, what next from the authorities?

This morning, Metal Tiger (MTR) announced that its outstanding unsettled position in New World Oil & Gas (NEW) has been settled. Two months late, the failure of regulated market participants to fulfil their contractual terms has materially and detrimentally impacted the fortunes of hundreds, if not several thousand, private shareholders up and down the country. The shareholder action group could not reach the 10% threshold to requisition a general meeting directly because of this. While the London Stock Exchange failed miserably to enforce its own rulebooks, the FCA stood idly by and did nothing. This whole episode is dreadful for the reputation of AIM and calls into question how trustworthy or viable is this market?

NEW
NEW

Last chance for the London Stock Exchange to save the credibility of AIM ref. New World Oil & Gas

The New World Oil & Gas (NEW) forward selling fiasco has been a disaster for the credibility of AIM. So far, every single safeguard that is meant to be in place to protect private investors has failed. Predatory regulated City firms are on the cusp of making millions of pounds of profit from the chaos they have caused, while hundreds of private investors stand to suffer unacceptable and unjust losses. Had the authorities been doing their jobs properly in the first place none of this would have happened, but such is the paucity of regulatory oversight on AIM that the conditions have been primed for this shambolic situation for a long time. Nevertheless, the London Stock Exchange has one last chance to prove itself deserving of its licence for self-regulation of “the world’s most successful growth market”.

NEW
NEW

New World Oil & Gas; the open offer that causes the London Stock Exchange an almighty dilemma

In one week New World Oil & Gas’ (NEW) highly controversial placing and open offer closes. The company expects to announce the result the following day. It then hopes that the London Stock Exchange will admit the new shares to trading on 10 July. This will present an acid test for AIM’s integrity and credibility. Few seem to appreciate the dilemma now facing the London Stock Exchange.

NEW
NEW

New World Oil & Gas; could it pay a shameful £1.15million in fees to Cornhill Capital?

I took a temporary vow of silence last week concerning New World Oil & Gas (NEW). We should learn soon enough whether my faith in the regulatory authorities was misplaced, but there is one issue I am compelled to speak out on; the sickening and unconscionable fees New World has agreed to pay Cornhill Capital in relation to the highly controversial open offer.

NEW
NEW

New World – A case study in catastrophic shareholder value destruction on AIM

In my last piece on the latest twists in the ongoing shambles I looked at the apparent mis-match between what New World Oil and Gas (NEW) was saying, and the Market Notice issued by the London Stock Exchange. Ben Turney has since published this incredible article – I hope that he made sure that the board of New World had been offered a chat with the Priest and blindfolds all round before releasing the trap door. And if that was not enough, there are today’s revelations that placees of the failed placing were not informed of the required shareholders approvals. Meanwhile, a look at shareholder value.

SER
SER

Sefton Resources; it was always going to end in tears, but what now?

This morning the inevitable happened. Sefton Resources (SER) placed at 0.065p. Shareholder anger is entirely understandable, but whose fault is this mess?

NEW
NEW

Exclusive: New World Oil and Gas – the smoking gun

Deputy Sheriff Towers is in receipt of an astonishing document - a Placing Letter sent out by Cornhill Capital pursuant to the abortive fund-raising announced by New World Oil and Gas (NEW) at the end of April. The placing was, of course, conditional on the passing of resolutions at an EGM, which shareholders blocked. But here is the thing: I see absolutely no reference to that requirement in the Placing Letter- indeed, the acceptance form describes the transaction to buy stock ‘Placed Firm’. Who will be first up to the gallows?

NEW
NEW

New World Oil & Gas – an Omnishambles with bells on. Alarm bells.

Back at the start of May I asked who was regulating the omnishambles that is New World Oil and Gas (NEW) on the back of what appeared to me to be quite obviously a disorderly market. It looked as though there had been rampant forward selling of a conditional Placing which was, in the event, scuppered by shareholders. I was not the only one making noises about a disorderly market – see HERE and HERE from my more esteemed colleagues, yet the LSE allowed trading to continue for another couple of weeks before the stock was suspended due to a deteriorating settlement situation - ie a disorderly market. Now we have a monster of an open offer, backed by a placing which effectively underwrites the offer. Will it cure the settlement problem? And what other issues are thrown up by the new proposals?

NEW
NEW

Could the New World & Gas naked shorters really make £5million from the havoc they caused?

If New World Oil & Gas’ (NEW) board of directors gets its way and saves the skin of the naked shorters, then this group could stand to make at least £5million from this fiasco. As disgusting as this figure it, what is most troubling about it is that the group of naked shorters must include a number of regulated firms, who have acted incredibly recklessly and irresponsibly. Will the London Stock Exchange and Financial Conduct Authority stand by and allow this to happen?

NEW
NEW

Why is New World’s board so determined to save the naked shorts?

Thursday’s announcement from New World Oil & Gas (NEW) made one thing crystal clear. New World’s board is determined to do whatever it can to let the naked shorts off the hook.

NEW
NEW

RNS Translation Service on behalf of New World Oil & Gas' 0.09p open offer

So New World Oil & Gas’ (NEW) board has announced its long-heralded 0.09p open offer. Nigel is off today, so it falls on my to run today’s RNS Translation Service. There is so much to say about New World’s deeply flawed plan, but for now let’s just take a look at the not so hidden meaning of board’s conclusions.

NEW
NEW

Exclusive: Cornhill Capital’s damning placement agreement - ref New World Oil & Gas

I’ve been passed a copy of Cornhill Capital’s standard placement agreement template. Normally this wouldn’t be remotely interesting, but in light of the broker’s role in the New World Oil & Gas (NEW) fiasco it makes for fascinating reading. In particular, the document I now have appears to blow out of the water any notion that Cornhill could have “accidentally” enabled the forward selling of New World’s conditional placement. This now leaves one question. Has Cornhill Capital totally lost control?

NEW
NEW

Why has New World Oil & Gas not sacked Cornhill Capital?

There are grave concerns about the conduct and behaviour of New World Oil & Gas’ (NEW) board of directors, in response to the forward selling fiasco embroiling the company. Specifically New World’s private shareholders worry whether or not the directors are acting in their interests or rather are acting to save the company’s regulated advisors from the financial consequences of their incredibly reckless actions. Until New World’s board engages with its ordinary shareholders these fears will not go away, but there is one much more pertinent question that no-one seems to have asked. Why has New World not sacked Cornhill Capital?

SER
SER

Sefton - a question that broker Cornhill might wish to answer?

Sefton (SER) shares have fallen to just 0.13p to sell. How wise market abuser Chris Oil was to sell all his shares on 8 May at 0.37p as he tweeted out that folks should be buying. But in light of the collapseroonie I have a brief question for the company's broker Cornhill.

African Potash; A NEW forward selling case involving Cornhill Capital?

Hot on the heels of the New World Oil & Gas (NEW) fiasco, evidence is emerging of a separate incident of possible forward selling of a placement involving another client of Cornhill Capital. Was this all above board? African Potash (AFPO) announced its plan to raise £1.2million on April 17th. In an echo of the New World controversy, African Potash’s placement was partially dependent on a successful shareholder vote at an EGM on May 21st.  Careful analysis of African Potash’s daily volume data, before and after April 17th, reveals a number of troubling questions.

NEW
NEW

New World Oil and Gas – implications of the EGM result for the company and its advisers

Now that the Placing is all off (quite how they calculated whose EGM votes counted is a bit of a mystery, but I shall return to that in a moment) we are told that the company is now planning to go ahead with an Open Offer which we were previously told would be underwritten by Cornhill – the placing agent now with no placing to place.

NEW
NEW

Exclusive: London Stock Exchange has now suspended New World

On Monday evening, New World Oil & Gas (NEW) put itself into “temporary suspension”, pending the outcome of the EGM. Last night New World announced the results of the EGM, but the stock remains suspended. It turns New World’s suspension is now out of its hands. The London Stock Exchange has stepped in and suspended New World, until the settlement situation is resolved.

NEW
NEW

Exclusive: Observations from New World Oil & Gas’ EGM

I took notes during New World Oil & Gas’ (NEW) EGM. Although these aren’t a comprehensive record of what turned out to be a very long meeting, they should hopefully provide some insight to those shareholders who were not able to attend.

NEW
NEW

New World Oil & Gas EGM farce details emerge

Detail is slowly emerging from the farcical New World Oil & Gas (NEW) EGM in Jersey today. Criminal market abuser Chris Oil was not present - maybe his passport has already been confiscated. But Ben Turney was attending as were no less than four heavies from broker Cornhill Capital.  The bottom line is, knowing that a show of hands would go against the company, it started the meeting by calling a poll - that is to say a vote of those actually casting votes on the two resolutions. However...

NEW
NEW

New World Oil & Gas: Chris Oil & the Shorts off the Hook: shares collapse

Oh dear. Those following flip flop pitchfork Ben Turney and the loons on the LSE asylum and filling their boots with New World at up to 0.85p ahead of “The biggest bear squeeze in history” have today done their conkers. The shares have crashed by more than 60% to just 0.16p bid thanks to two announcements. Ouch, how does it feel being skewered on your own pitchfork? Ask Ben.

NEW
NEW

When will the New World Oil share price crash?

I’ve been following the New World Oil (NEW) story with interest, and also a fair amount of surprise. The surprise element has largely come from reading the various chat forums, and even Twitter, and seeing the general lack of understanding of the situation the company and those taking part in the potential placing have found themselves in. 

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