Keyword results: London Stock Exchange

PREMIUM CONTENT

How Long Is A Promise At Edge Performance VCT?

On Tuesday 24th August 2021 Edge Performance VCT (EDGH and EDGI) released its Annual Report for the year to February 2021 – almost two full months after the usual four month reporting deadline. It was the only VCT to claim an extension lamely citing Covid as the reason. In that report we were told, under the Statement of Corporate Governance on page 25 that:

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PREMIUM CONTENT

Verditek – as ever London Stock Exchange Rules do not apply to a company run by a Tory Toff

Over at Powerhouse Energy (PHE), the chairman is branded a liar by a High Court Judge but because Tim Yeo is a Tory Toff he gets to keep his job. At Verditek (VDTK) – the company that repeatedly announces big contracts to ramp the shares ahead of a placing only for the contracts to evaporate once the mug punters have ponied up, the Tory Toff in charge is Lord David Willetts. Because the good Lord is just the sort of fine fellow to whom we should all doff our cap, normal AIM rules don’t apply.

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Beggar
PREMIUM CONTENT

The London Stock Exchange and its inadequate response on Jub Capital Management LLP

On Thursday 8 July 2021, the London Stock Exchange published its Disciplinary action against Jub Capital Management LLP.  Investegate |Stock Exch Notice Announcements | Stock Exch Notice: N16/21 – Disciplinary action against a member firm.  Within the text was the statement that “No fine is to be imposed, taking into account the firm’s financial condition, but in other circumstances the Exchange would have sought a fine of £300,000.”  It is hard for outsiders to assess LLP’s financial position because its accounts for the year ended 31 March 2020 are overdue but presumably it would be unable to pay the fine given the loss of its status as a member of the London Stock Exchange.

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PREMIUM CONTENT

BREAKING: Former Vast Resources director Brian Basham accuses AIM and the LSE of obfuscation and deception in not tackling clear abuse

Fleet Street legend Brian Basham is at war with Marcus Stuttard, his team of Oxymorons at AIM Regulation and the London Stock Exchange over its refusal to tackle what he sees as industrial scale abuse of market rules and shareholders’ funds at Vast Resources (VAST) where he was once a director. His correspondence with the hapless Stuttard, the self-styled Sheriff of AIM, began on April 20:

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PREMIUM CONTENT

The Shambles that is BSF Enterprises releases Interims to March 2020 AFTER the full year report, almost thirteen months after period end!!

Here is another piece of fake news from Alliance News: “Losses widen at BSF Enterprise but cash position strengthens”. This followed the release by sub-Standard Listed cash-shell BSF Enterprise (BSFA) of Interims to March 2020 – just over three weeks AFTER it released full year numbers to September 2020 (which were released a day late on April 1st despite having been filed to Companies House on 4th March. What sort of shambles is this?

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ZOE
ZOE
PREMIUM CONTENT

BREAKING: Letter to the FCA: Zoetic and the illegal reverse takeover & other matters

That Path could not get FCA approval for a prospectus involving a deal with Zoetic International (ZOE) as emerged yesterday should confirm that the floor shitters are all over the fraud which has lied to its, very few, customers to investors and to regulators and which is teetering on the verge of bankruptcy.  I have today written to the FCA to raise new concerns as to whether Zoetic can remain listed without issuing a fresh prospectus, which it cannot afford. The detailed letter is below:

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PREMIUM CONTENT

BREAKING: Reddit Conspiracy to "Fuck the London Stock Exchange" and make the con SYME London's GameStop!

Shares in the outright con Supply@ME Capital (SYME) remain suspended on the London’s Stock Exchange despite its very belated posting of two missing sets of accounts. In my latest letter to the regulators at the FCA I explained why the shares should stay suspended until Supply’s lies in those two accounts are addressed. But here’s another reason, plotters on Reddit are aiming to attempt a mass buying of the shares on Monday, if they are unsuspended, to destroy, what they believe is a massive shorting conspiracy. They think Supply will be the UK’s GameStop, taking down evil hedgies and shorters. 

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PREMIUM CONTENT

25 years of fraud and failure at Eden Research & the Stock Exchange loves it up – I give up, I am a dinosaur

In its 25 year history, Eden Research (EDEN) has only ever reported one six month period when it made a profit. And that was down to a Panama Pump accounting fraud involving Terpenetech. But today its shares are racing ahead thanks to an endorsement from the London Stock Exchange (LSE). I despair and ponder retirement.

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WSG
WSG
PREMIUM CONTENT

Everything that is wrong with the City: as Westminster Group and sleazy Tony screw shareholders, the LSE lavishes praise

Three announcements came this morning from Westminster Group (WSG), the cash-guzzling AIM promote run by sleazy ex Tory MP Tony Baldry of 3DM infamy. All add to Tom Winnifrith’s 5th rule of investing: If the porcine piece of slime Tony Baldry is involved, sell.

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Tom

Two matters of great interest to PrimaryBid followers

I am a fan of PrimaryBid. It allows ordinary punters like you and I to take part in placings hitherto reserved for City insiders. So everyone should sign up HERE. But there are two pieces of news today.

Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: Bedwetting brokers do protest too much & I do not see why my taxes should fund executive greed at ADVFN

In today’s podcast I start with PrimaryBid and the way brokers are crying foul on the London Stock Exchange backing it financially. Then onto, quite good, H2 numbers from ADVFN (AFN) but my real disquiet at the way my taxes are going on supporting the lifestyle of an overpaid board.

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GDP
GDP
PREMIUM CONTENT

Goldplat – term sheet for Kilimapesa mining sale, still a buy?...

Goldplat (GDP“is pleased to announce the signing of a binding term sheet… for the sale of… the assets and licences of the Kenyan underground mining operation” Kilimapesa…

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Dead-Donkey
PREMIUM CONTENT

BREAKING: Is Jub Cap the next broker blow up? Is Chris Oil involved or Eurasia Mining?

The rumours are swirling as to why this has happened. But a statement on the London Stock Exchange website is clear. It reads:

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G3E
G3E
PREMIUM CONTENT

G3 Exploration: Liquidators appointed, shares worthless and yet ...

It's been a while since I last wrote about Green Dragon Gas, which has since changed its name to G3 Exploration (G3E); but a series of increasingly bizarre announcements have reminded me of this awful company.

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LSE
LSE
PREMIUM CONTENT

I shockingly agree with Vince Cable on the London Stock Exchange

I put my hands up and admit there are some companies about which I just cannot get my head around their share valuation. One of these is the London Stock Exchange (LSE) which - from the perspective of its share price appreciation over recent years - has performed rather well. Yes, I get the natural monopoly angle and some well-timed expansions into different markets and different products, but a x54 P/E and a measly 0.5% dividend yield are starting metrics that indicate...enthusiasm rather than value. And then, of course, there are the range of critiques that this website has highlighted for example, here. Anyhow, back to me and Vince…

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COB
COB
PREMIUM CONTENT

Keep calm and let Cobham be taken over

I predict lots of deal excitement in the London market on Monday morning, with the weekend press all excited about a London Stock Exchange (LSE) apparent takeover approach to a global financial data peer.  There are precious few numbers on the proposed combination currently kicking around but the mooted level of cost synergies appears very low to me. 

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LSE
LSE

LSE AIM Statistics for June 2019 - these truly are awful stats for the “worlds leading growth market”

The joke management of the London Stock Exchange (LSE) continues to insist that the AIM Casino is the world’s leading growth market. But the hard data from June 2019 shows once again that the fat cat LSE bosses are ‘avin’ a giraffe.

Thursday Caption Contest - Sam Smith at the Stock Exchange to celebrate the FinnCap IPO

The picture below is of Sam Smith the CEO of FinnCrap (FCAP) celebrating the IPO of her company on AIM at the offices of the London Stock Exchange. I ask you for suitable captions in the comments section below with the prize for the wittiest and rudest being a semi naked picture of Britain's top share blogger (mornings only), Thirsty Paul Scott. For what it is worth I set an early low bar with my suggestion...

Clown_Funeral

AIM is dying: 10% annual attrition rate well in sight

The London Stock Exchange has just published its October 2018 AIM Statistics bulletin and the figures are again shocking. AIM is down from 942 members last month to just 928 now – and with Northland set to lose its Nomad license in a few days’ time that number is going to fall further as yet more companies have to search out a new Nomad that might not want them on their books.

Bear

AIM- still sliding towards a bear market

Statistics released for the month of September by the London Stock Exchange show that AIM is still contracting. When I wrote about this last month, AIM was already at its lowest ebb since 2004 and the latest numbers suggest that the decline is still ongoing.

AIQ
AIQ

Standard Listed AIQ – returns from suspension again: no explanation offered by anyone!

Amazingly, the cash shell that is Standard Listed AIQ (AIQ) – with somewhere around 8-10p per share of cash and nothing else – has again returned from suspension this morning. The shares, having peaked (ahead of the last suspension) at 150p to buy are now in free fall, sitting on a spread (last seen) of 80p (to sell) to 130p (to buy). I have no hesitation in recommending a sell – there is, after all, only 8-10p of value here. What does surprise me is that there has been no official comment whatsoever from the company – or, indeed, anyone else.

AIQ
AIQ

Standard Listed AIQ announces placing, open offer and return from suspension. Who wins?

In one of the most bizarre listings the UKLA has allowed through, AIQ (AIQ) got onto the Standard List in January, only to be suspended three days later. The shares had gone mad, rising to 125p at suspension despite being a simple cash shell having raised money at just 8p. It seems that there were buyers but nobody could sell as their shares were paper certificates which had not arrived. But there were a few other matters too.

LSE
LSE

The Stock Exchange steals my cash because I am relatively efficient

Via our broker,the London Stock Exchange (LSE) warned me that unless FIML and also my pension fund had what is called an LEI number by January 3rd it would be unable to trade. I filled in complex forms on behalf of FIML and applied. I handed over £138 including VAT and today FIML got its number.

LSE
LSE

So farewell then useless froggie Xaviet Rolet...our in-house poet writes

Our in house poet EJ Somerville-Thribb, aged 17 3/4, offers up a few words on the departure of the CEO of the London Stock Exchange (LSE):

Clown

Photo Article -Tom Winnifrith gets a cheque for 29p, is it a bribe?

Well it did arrive in a brown envelope! The eagle eyed among you will see that I appear not to have cashed the last cheque from this source, for 51p. I think I lost it. But I'm now entitled to 80p as a result of being a loyal shareholder in the London Stock Exchange (LSE). Of course my real "dividend" is being able to attend the AGM to berate the hapless head of AIM Regulation, Mr Marcus Stuttard. Truthfully, notwithstanding today's cheque I can say that I am not in this one for the money.

TCM
TCM

A letter to the chairman of the London Stock Exchange - why no independent review of the Telit fraud?

You may remember that at the last AGM of the London Stock Exchange (LSE) its chairman,, Donald Brydon CBE, 'fessed up to being a ShareProphets reader and as we chatted afterwards he came over as a thoroughly decent man. But he has, yet again, been failed by his minions in their handling of the biggest AIM fraud of the year, so far, Telit (TCM). Lowly gofers such as the head of AIM Regulation, the fake Sheriff Mr Marcus Stuttad,  have allowed Telit to avoid any independent scrutiny of its accounts & business practices despite clear evidence of fraud. That has to change and maybe Brydon will push for that. I have sent him a letter.

Pig

ShareSoc Bang on the Money - the City of London should be ashamed over Saudi Aramco

ShareSoc is starting to make some really very sensible points. Today, one of its contributors, has, rightly, taken the great and the good of the City of London to task over the shameful rule changes designed to ensure that Saudi Aramco floats here. Like the author, Mike Dennis, I would not touch that IPO withn a bargepole.

AVO
AVO

Tom Winnifrith: I lied to you - I have a 19th share, I'm 99.75% down in four months and over the moon

Yesterday I revealed to you the 18 shares I own and thanks for all the comments. For the avoidance of doubt that portfolio started at zero four and a bit years ago and we have more than trebled our money to date. It happens. But I lied to you, the portfolio is incomplete. I own two other shares. 

Newsboy

ShareProphets takeover shock: Government agency declares Quindell's Rob Terry as our new CEO

The future of ShareProphets as an independent critic of the London Stock Exchange has come into question after a unexpected declaration of ownership change to Quindell's Rob Terry, as declared by an official government agency.

Pig

Roger Lawson wants taxpayer cash to subsidise ShareSoc - No Way!

The chaps at ShareSoc led by Roger Lawson have written to the Business, Innovation and Skills Committee inquiry on corporate governance with a number of suggestions on cleaning up AIM. First up, send large amounts of taxpayers cash to Lawson and his pals. You could not make this stuff up.

Bearcast

Tom Winnifrith Bearcast - how should I spend that 24p & Graham must be fired for being too nice to FastJet

So the London Stock Exchange (LSE) has just sent me 24p. Fear not, I shall not spend it all at once but on what do listeners think I should splash out? Meanwhile Graham Neary is just too nice to FastJet (FJET) today and unless he can start to act a bit more like a complete and utter bastard I fear that I shall have to fire him as he just won't fit in at ShareProphets. I explain why Fastjet is toast. I look at Charaat Gold (CGH) and also at how sometimes we get carried away by short term events and ignore the bigger picture - I refer in this case to Nighthawk (HAWK). I also ask why after 18 days African Potash (AFPO) has not sued me for libel for pointing out that it is a fraud? Go on you mothers I want to see you bitchez in Court.  The gym I refer to is HERE.

Moneytree

AIM has its part to play as the country prepares for Brexit. I’m not holding my breath.

There is no doubt that AIM is an incredible cash-raising machine. According to the most recent AIM Factsheet (to June 2016), published by the London Stock Exchange (HERE) £41 billion has been raised in new issues, and a further £56 billion in further issues of shares – a whopping total of £97 billion. Over the 21-year life of the Casino that is a very impressive average of £4.6 billion a year.

China Flag

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

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.

Roulette

AIM: the Data that shows its a disaster

AIM is now 21 and new, hard, data from Hargreaves Lansdown shows that, whatever the London Stock Exchange says, it has been a disaster. Over that time the AIM Index has fallen by 30%. By contrast - with dividends included - the FTSE Small Cap Index is up by 220%. Ouch.

Chocolate-Teapot

Marcus Stuttard, head of AIM: look in the mirror, old boy, look in the mirror.

Last week’s AGM held by the London Stock Exchange Group (LSE) saw some biting criticism of AIM from our very own Tom Winnifrith and also from Mark Bentley of ShareSoc. What better way to counter the barrage than for the  Sham Sheriff, Mr Marcus Stuttard, to get a soft interview in The Times (see HERE)? But in the article Mr Stuttard reveals that he simply has no idea at  all. Unless, of course, there is a completely different AIM market on Planet Zarg…..

LSE
LSE

London Stock Exchange Still in Denial on AIM

I couldn’t make the London Stock Exchange (LSE) AGM on Wednesday but by all accounts it was more amenable than last year’s disgraceful affair at which bona fide shareholders were frisked and refused entry by boot faced, thuggish bouncers, but I am disappointed that the board still seems blissfully unaware of the reputational damage being inflicted on the LSE by the dysfunctional AIM Market.

WPG
WPG

It Could Be a Brave New World with Worldpay.

Hello Share Swaddlers. I buy a lot of stuff on line, you buy a lot of stuff on line. We all do - and the trend is growing all over the world.There are many firms which can benefit from this upsurge and its not just the retailers and the delivery vans. There is a  fairly new company called Worldpay (WPG), which is already in the Footsie, but could have an even rosier future in the computer sales game.

Bearcast

Tom Winnifrith Bearcast 27 March - which is more shite Outsourcery or Blur?

Hello to the chairman of the LSE and all other readers of this website and welcome to the daily podcast. In detail I look at Outsourcery (OUT) the crock of Turkish run by serial business failure Piers Linney and Blur (BLUR) the piece of Turkish run by uber-poltroon Phil Letts. Which is more worthless? Discuss. Having behaved myself with no bad language at the London Stock Exchange (LSE) AGM I am aware that my standards rather slipped in this podcast. You have been warned. I also cover MX Oil (MXO), Cambian (CMBN), Hunter Resources (HUN) and the uber Turkish Rose Petrooleum (ROSE) whose RNS today screams SELL - PLACING AHOY!

LSE
LSE

Stock Exchange chairman Brydon tells AGM he reads Tom Winnifrith - as AIM Sheriff quizzes board

Not only did I get into the AGM of the London Stock Exchange (LSE) but in response to one of my two questions chairman Donald Brydon fessed up to being a reader of my work, saying how glad he was that I had got in this year. And as I chatted to my new best friend afterwards up wandered the bogus Sheriff, Marcus Stuttard, head of the oxymorons at AIM Regulation and guess what?...He's a reader too.

LSE
LSE

London Stock Exchange AGM Wednesday - 89% of you think LSE will stop Tom Winnifrith from asking questions

I shall endeavour, as the owner of two shares, to gain admittance to the AGM of the London Stock Exchange tomorrow morning. Im coming up from Bristol so may be a few minutes late but I trust that Lucian will be there for the 10 AM kick off at the Banksters Hall but it seems that only 11% of you reckon that the crony capitalists will take my questions on AIM fraud. We asked how the LSE would treat me - having barred my last year as its press office lied: You said:

Bearcast

Tom Winnifrith Bearcast: The London Stockmarket is rigged & devoid of moral compass: ref Falcon & Greka

The market is bent and no-one cares. Well I do and will be raising a number of issues at the AGM of the London Stock Exchange next week and hope you will join myself and Lucian there. In this podcast I cover moral choices about who you do business with and some nasty shocks in store for certain folks at www.UKInvestorshow.com then look at how markets are rigged and bent, leaving all involved just fealing sordid. I look at both Greka Drilling (GDL) and Falcon Acquisitions (FAL) as case studies.

LSE
LSE

Reader Poll: Will Tom Winnifrith get into Stock Exchange AGM next week & if not why?

Tom has been assured by the London Stock Exchange that a share certificate and a passport will get him into the LSE AGM this year. But the same folks lied to him in 2015 so will he get in and if not why not? Vote now in our reader poll:

LSE
LSE

Want to join Tom Winnifrith & Lucian Miers as we storm London Stock Exchange AGM 27 April?

The complacent and overpaid useless bastards who run the London Stock Exchange (LSE) hold an AGM at the Bankers Hall on Cornhill in the City at 10 AM on 27 April. I shall be there with a share certificate and passport and so cannot be denied access. Last year the press office lied to me and blocked my entry.

WRN
WRN

Worthington is just misleading the Takeover Panel re Nuna - when will this farce end?

Heck. Everyone does the April Fool's thing don't they? And so the fraud that is Worthington (WRN) put out an RNS which we are meant to think is serious but is in fact a joke. Or in this case The Takeover Panel and LSE appear to think that it is serious but everyone else knows that it is just a joke, like spaghetti trees in Italy or Chelsea fans pretending they have always "supported the blues" from before they were good.

Another Filthy Forty AIM execution as Asia Ceramics is given the boot

Another day, another one-way trip to the chamber of no return. Asia Ceramics Holdings plc was formally given the heave-ho this morning to make it the nineteenth member of the ShareProphets AIM-China Filthy Forty to leave the Casino. Tomorrow we hit twenty – the half way mark – as it is the turn of Auhua (ACE) to join leave the world’s most successful growth market.

Plus 500 - have you read THIS article - you sure you want to own the shares?

An article in the Times of Israel on binary betting and the industry centred on Tel Aviv has been drawn to my attention. Ouch.

Bearcast

Tom Winnifrith Bearcast 20 March: Nice krauts, nasty Phil Green, Mike Ashley and Wicked Witch Cherie Blair

In today's podcast I argue that it matters little who runs the London Stock Exchange (LSE) as long as it is not the idiots in charge now. I then move onto unnacceptable faces of capitalism: slob Mike Ashley, greedy pig Phil Green and the Wicked Witch Cherie Blair

China Flag

China Daily: London bidding to lure more Chinese companies? My heart sinks.

According to a report in China Daily Europe a new wave of Chinese company listings are [sic] expected in London as the London Stock Exchange ramps up its efforts to attract Chinese firms. With the stench of the ShareProphets AIM-China Filthy Forty in full nauseating flow, seemingly unaddressed, my heart sinks. 

GTS
GTS

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

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…

ACE
ACE

China fraud Auhua becomes suspension/delisting number 21: full inquiry into systemic regulatory failure needed NOW!

Shares in ShareProphets AIM-China Filthy Forty stock Auhua "Clean is my middle name" Energy (ACE) are down another 28% this morning after the company confirmed that it has not yet been able to sign up a new Nomad to replace Grant Thornton which steps down with effect from Monday morning. As such Auhua will become the twenty-first company of our Filthy Forty to have left the Casino or be suspended.

Bearcast

Tom Winnifrith Bearcast 23 Feb - Recording with 3 legged Oakley and an imaginary ffing dog

Thank you for your kind messages about my late cat Tara. Today I record with morbidly obese three legged Oakley listening and try to get him excited with an imaginary ffing dog. Actually it is the Chris Oil of cats. I explain. I also look at Stanley Gibbons (SGI), the London Stock Exchange (LSE) and the first placing into the Horse Hill ramp - Evocutis (EVO). Next will be - I predict - Solo (SOLO). I also look at ISDX lobster pots and David Lenigas lies ref Afriag (AFRI).

Peasants

Doc Holiday to join Lucian Miers & Tom Winnifrith at LSE AGM protest, will you come too?

The scouse blogger Doc Holliday has today said that he will be stealing a few hubcaps so that he can buy one share in the London Stock Exchange (LSE). That will alllow him to join the protests at its AGM in late April about its wholesale failure to tackle fraud and PLC lies on the AIM Casino. So that makes three comrades pledged to attend: Doc, myself and Lucian Miers. Will you come too? Here's the deal...

Curse_Of_ShareProphets

London Stock Exchange Brace Yourself for AGM Protest - This time you cannot stop me

Last year the London Stock Exchange (LSE) managed to deprive me of access to its facistic AGM even though its press office had previously said I could attend. This year they will not stop me as I have just dematerialised my two shares ( the certs are with me) and so will arrive in London in late April will all the documents I need to get in. So what trouble will I cause?

HSS
HSS

HSS the risk reward favours the bears

Next week will mark the first anniversary of the announcement by private equity owned HSS Hire Group (HSS) of its intention to float on the London Stock Exchange.

Panda

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

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...

EZH
EZH

Zak Mir's Bull Call of the Day No. 2: Easyhotel: Exhaustion Gap Reversal Targets Back To 90p Plus

Until this month the history of EasyHotel on the London Stock Exchange was not exactly something to write home about.

GNG
GNG

Geong, Geong Gone! Yes the AIM Execution took place this morning

Over at Paternoster Square, above the headquarters of the London Stock Exchange the black flag was again raised this morning as Geong (GNG) took its final walk to the AIM casino execution chamber and was despatched. I’ve been wanting to say this for three years: “Geong, Geong…Gone!” This is the 15th AIM casino ShareProphets China Filthy Forty stock to meet its maker since the Index was started on June 1 2014. Who’s next?

GBO
GBO

C. Papadimitrakopoulos, CEO Globo PLC, receives the World Finance award for Best Telecoms Innovation

You think awards all a load of old cock? You think that being lauded by the London Stock Exchange is a bad sign? Yup lets watch a video of fraudster Konstantinos Papadimitrakopoulos, until today CEO of the fraud Globo (GBO) in action. Well done you old crook. But at least as you rot in jail know that the LSE once loved you.

Eye-on-AIM

Tom Winnifrith is wrong. Why we should push for the reform of AIM.

“Markets affect everyone. But they can go wrong.  Left unattended they can be prone to excess, instability and abuse.  In order for markets to regain their social license, it is vital that public authorities and private market participants work together to reverse the tide of ethical drift. This cannot be a one-off exercise and needs continuous engagement so that market infrastructure keeps pace with market innovation.” Describing the rationale for its Open Forum at the Guildhall on 11 November, the Bank of England perfectly sums up the general argument for reform of AIM.

Eye-on-AIM

The London Stock Exchange appears to be covertly cleaning up AIM’s act. Is now the time to push for reform on behalf of ordinary investors?

Has the London Stock Exchange finally woken up to the fact its AIM Augean Stables is in dire need of a very late spring clean? Over recent months a few clues have started to emerge that the LSE is covertly trying to regain control of its growth market and repair its battered reputation. The latest hint that something is afoot came via this morning’s piece in the Financial Times, with news that the LSE is going to tighten up the rules concerning cash shells. If this is an indicator of a wider initiative to sort out AIM it is something to celebrate. However if the LSE genuinely wants to restore confidence in the “world’s most successful growth market” it is also going to have to take some actions publicly, no matter how difficult they might be. 

ARC Capital – Filthy Forty execution thirteen, over half a billion wiped out. Auhua next?

Hot on the heels of the announcement that Vmoto is to delist from AIM, ARC Capital (ARCH) has announced that it has failed to find a replacement Nomad and will be booted off the Casino as of 7am this morning. Execution number 13 (and Vmoto is number 14). There are still another three on death row following Nomad resignations to make a total of 17. Are you watching this Marcus Stuttard, the Sham Sheriff?

Clown

AIM-China Filthy Forty: (yet) another bites the dust. How many before Marcus Stuttard is forced out?

China Chaintek (CTEK) was formally expelled from the AIM Casino this morning, making it the twelfth company on the ShareProphets AIM-China Filthy Forty to leave the Casino. This followed the resignation last month of the now saintly Ray Zimmerman at ZAI Corporate Finance as Nomad. Forty companies, twelve down and four more on death row. Is it not clear as day that there has been the most inexcusable failure by Marcus Stuttard, the Sham Sheriff, and his oxymorons at AIM Regulation? If he has a shred of decency he will now resign.

SER
SER

Sefton: The Real Reason ZAI refused to act as Nomad, the market abuse (Chris Oil) and what next?

As predicted on Sunday in yet another scoop for this website, ZAI Corporate Finance, led by heroic Big Ray Zimmerman, has refused to act as Nomad for the proposed new management team at Carry on up the Sefton Resources (SER). We can now reveal the real reason for this, flag up yet more market abuse by Chris Oil and suggest what happens next.

Eye-on-AIM

Is an AIM exodus coming?

Why won’t the London Stock Exchange accept the need for reform of AIM? So long as the LSE maintains the pretence of running “the world’s most successful growth market”, while wilfully refusing to acknowledge or deal with AIM’s manifest faults, it leaves itself open to competitive challenge. Perhaps the LSE has decided it lacks the competence to run and police a small cap market or perhaps it has decided it just isn’t worth the hassle. It certainly can’t believe it is doing a good enough job after all the controversies that have happened on its supposed watch. Whatever the case, if the LSE does not take action soon it could well find AIM implodes, intentionally or otherwise.

Panda

George Osborne, what planet are you on? Ref AIM China FRAUD

This week George Osborne was merrily tweeting away that he was Delighted we have agreed with China to look into benefits of connecting UK and China stock markets. He’s clearly had a whale of a time in China, but I fancy he’s got no idea of the dangers of what he’s doing. With the ShareProphets AIM-China Filthy Forty turning up scandal after scandal, what on earth does he think he is doing?

JQW
JQW

JQW supposedly suspends operations (or not): another kill pending for the Filthy Forty?

It is London Buses time once again here on ShareProphets.com. A quiet few days on the AIM-China Filthy Forty and then all of a sudden three dreadful RNSs all come at once. Nine Filthy Forty members have already departed stage left. Three more are on death row following Nomad resignations – China Chaintek (CTEK), ARC Capital (ARC) and Global Market Group (GMC) which receives its last rites today. And now today two further China plays announced dire news, JQW (JQW) and Vmoto (VMT) as well as a potential bidder walking out on Geong (GNG) in the wake of a few issues with revenue recognition. No doubt the auditors there (UHY Hacker Young) will be shown to have acted with all due care.

GMC
GMC

Global Markets Group is on the AIM casino Death Row – it is now time for its last meal, execution is tonight

Of the Filthy 40 China stocks listed on AIM on June 1 2014 or listed since, ten have already been booted off the Casino while shares in four are suspended. Of those three are suspended as the Nomad has quit. They sit on Death Row and the first execution, expulsion from AIM, is scheduled for tonight.

Free-Speech-Pizza

Notes from Underground - When the moon hits your Eye like a big .... ....

The spiciest story this week, as spicy as a calabrese pizza with diabola sauce, is Ben Turney's response to Brokerman Dan's allegations that Ben has been a very naughty boy. Compare that to the cheesiest, as cheesy as a Quattro Formaggi with extra gorganzola, is Chris Oil's demand for an EGM at Sefton Resources.

RFC
RFC

Exclusive: Why Rangers was booted off the stockmarket – it was a London Stock Exchange covert killing… a warning for Sefton

On April 2nd 2015 Rangers Football Club (RFC) was booted off the AIM casino, the junior market of the London Stock Exchange.  A nominated adviser, Nomad, for many AIM companies has now contacted us to explain how this was a direct result of a covert killing by the London Stock Exchange (LSE) itself. Shareholders in Sefton Resources (SER) be warned…you may be next.

CAP
CAP

Clean Air Power – more C(R)AP, liquidation & AIM cancellation

Clean Air Power (CAP, long been missing an ‘R’) has updated on its liquidation process, including that it expects the AIM admission of its already suspended shares to be cancelled in one month…

LSE
LSE

London Stock Exchange tries to screw us all – a broker complains

One of London’s top brokers argues that the London Stock Exchange’s (LSE) lust for screwing the last nickel out of anyone it can is a disgrace and perhaps a sign that on a PE of 42 the shares are a sell. Despite an Oxford degree this fellow needs a grammar lesson so to spare his blushes I have semi-subbed accordingly? The broker writes: 

The Tern warrant mystery – an Open Letter to AIM Regulation

Following on from THIS ARTICLE from earlier today, I have written to AIM Regulation and asked them to step in. This is an important matter, because shareholders in AIM-listed Tern plc have just seen more than 1% of their company near-enough handed out for almost nothing, by way of an unexplained warrant exercise which they would have been unaware of. This is not an acceptable situation because the implication is that ownership rights on AIM can become arbitrary.

Eye-on-AIM

Clueless Office of National Statistics embarrasses itself with AIM estimates

Yesterday it was the turn of the Office for National Statistics (ONS) to prove how little official bodies understand about the parlous state of AIM. According to its Statistical Bulletin private investors own a mere 30.6% of the companies listed on “the world’s most successful growth market”. This estimate is just plain embarrassing. At the end of July AIM was worth £74.8billion. It isn’t an inconsequential aspect of the economy, which should be ignored. AIM plays an important role in influencing the wealth and pensions of a large segment of the nation. Policy makers should take it far more seriously, but how can they when the ONS trots out such pap?

LSE
LSE

Am I being paranoid or does the London Stock Exchange not like me very much?

As you know I was filming with the BBC today. I shall let you know when the programme is set to run. We started off with an interview on the 24th floor of a very tall building. If I look a bit green at the gills it is because I suffer from chronic vertigo so I really did not enjoy that much. Then we moved over to film a few shots outside the Stock Exchange…

Red Flags at Night: Goldenport Holdings Inc Interims and offer talks terminated

A bank holiday weekend: what better time is there than 6.29pm on Friday night to slip out bad news?! And so we come to fully listed Goldenport Holdings Inc (GPRT) which did exactly that, in the form of its interims. But it was not just that this came at no-one-is-watching o’clock, there were a few other matters which anyone holding this stock might want to pay attention to – if they are not blinded by subterfuge.

NEW
NEW

Think you own your shares? It turns out you might not.

The New World Oil & Gas (NEW) forward selling fiasco exposed one of AIM’s most significant structural faults; do you really own the shares you’ve purchased? The secretive role of market makers in the function of AIM is not widely understood or appreciated. Few private investors realise just how much power and control this furtive group wields over physical stock and, therefore, share prices. During the New World controversy the London Stock Exchange proved itself ineffectual in enforcing its own rulebook, which is meant to oversee the actions of market makers and protect the legal rights of shareholders. Below I share some correspondence I had with major retail broker Share Centre, six weeks ago. This helps demonstrate how certain City firms directly interfered with the legal rights of New World’s shareholders, while the London Stock Exchange stood idly by. 

Eye-on-AIM

ShareProphets Exclusive: AIM CEOs speak out on City placement corruption and market abuse – Part 2

Yesterday I reported the story of an AIM CEO, who shared his first hand experience of the City corruption that enables the illegal forward selling of placements. Today I publish a second account, from a separate CEO, who also spoke on the condition of anonymity. Over the years, a number of companies on AIM have suffered illicit coordinated market attacks against their share prices. There has long been a suspicion of direct City complicity in these abusive assaults, involving regulated brokerage firms and market makers. Thanks to the vagaries of libel law and the City’s conspiracy of silence this is a story nearly impossible to report on, but the comments of CEO 2 serve as a warning to private investors in this utterly bent market.   

Camkids, China Chaintek and the joke that is AIM

It seems like ages ago that the then Chairman of the London Stock Exchange, Mr Gibson Smith stared at me disdainfully at the police-state plenum-style AGM and in answer to my question as to whether having AIM was really worth the sweat, given its minimal contribution to Group profits compared to the colossal reputational damage it was wreaking, trotted out some feeble rehearsed platitudes about the importance of the AIM market, the quality of the Nomads, and lack of wholesale fraud in the AIM listed China-based community.

Panda

The China AIM Casino Filthy Forty is launched – be shocked

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.

Panda

Is the fair Isle of Jersey the preferred route for China Norfolks to get onto AIM?

Jersey Finance is terribly keen to get Chinese companies to register in Jersey and list their shares on the London Stock Exchange, notable on the AIM casino. What a marvellous set-up they offer: it is the jurisdiction of choice for corporate entities seeking to list, one fifth of Chinese companies listed in London are registered in Jersey, there is political and economic stability, a sound regulatory reputation and, of course, Jersey Finance has a representative office in Hong Kong (since 2009) just to ease things along. What’s not to like? 

Collapsing-Reactor

Results of China fraud Caption Contest and a new one in honour of useless LSE boss Xavier Rolet

Thanks for all the entries to the China fraud caption contest of yesterday. That was such fun we have a new contest (deadline for entries midnight Saturday) in honour of the useless tosser Xavier Rolet, the garlic munching imbecile in charge of the London Stock Exchange.

Eye-on-AIM

AIM drops to lowest number of companies in over a decade. This market is dying.

What can the London Stock Exchange do to restore confidence to AIM? The “world’s most successful growth market” is ailing and no amount of spin can cover up its decay. According to the latest statistics, at the end of July AIM hosted 1,066 companies, the lowest number since the end of 2004. There have been a mere thirty-seven new issues so far this year, of which one was a transfer from the main market and eight were re-admissions. Having failed so miserably to police its market, the London Stock Exchange now faces an immense challenge proving to the investment community that it has the wherewithal to arrest AIM’s increasingly terminal decline.

QPP
QPP

Quindell & Cenkos together prove why AIM’s model must fail

The Quindell (QPP) scandal keeps raining blows on AIM’s reputation, further calling into question how much longer this market can limp on in its current guise. At the heart of many long-standing complaints about AIM’s viability are concerns that the Nomad system of self-regulation is inherently flawed. AIM has never been able satisfactorily to answer how poachers can be expected to act as effective gamekeepers. The next revelations about the £5.4million worth of share payments Quindell made in early 2014 to its Nomad, Cenkos Securities, are hardly going to help.

QPP
QPP

RNS Translation Service – AIM Regulation on its epic failure to regulate the Quindell fraud

Someone at the London Stock Exchange has clearly broken out the cattle prod today and abruptly woken the AIM Regulation Team from its deep slumber. Wonders will apparently never cease, as AIM Regulation has actually bothered release an announcement concerning its miserable failure to regulate Quindell (QPP). Those in a more charitable mood might say “better late than never”, but we strongly doubt there will be many long-term shareholders in this group. ShareProphets’ handy translation service now fills in the gaps of what should have been an apology to all those caught out by this fraud.  

NEW
NEW

New World Oil & Gas; administrative error sees Alliance Trust Savings take a 13.25% stake

The New World Oil & Gas (NEW) forward selling fiasco took yet another bizarre twist this morning, as the company announced that Alliance Trust Savings had taken a 13.25% stake. There was widespread speculation that this announcement was a cunning ploy from market abuser Chris Oil, as this involves his broker, but I didn’t believe that for one second. Chris Oil has proven beyond all doubt that he doesn’t have the gumption for cunning ploys, so this transaction looked like something different. The question was what?

JSI
JSI

Jiasen – circling the plughole of AIM Casino Death: FD Quits

China fraud Jiasen (JSI) floated at 82p a year and six days ago. The shares are now 4.5-5.25p following news that the Chief Financial Officer Kian Tan is set to walk the plank within weeks. The shares now trade on an historic yield of almost 50% and at an 80% discount to stated net cash and on a PE of 0.3 if you believe the numbers. I do not. They are pure fiction. Jiasen is circling the plughole of AIM casino death as I flagged up again yesterday HERE.

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.

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?

AIM_20

AIM’s shocking mortality rate - the casino death rate is alarming

For “the world’s most successful growth market” the mortality rate of companies that list on AIM is shocking. Since the start of 2001, an estimated 1,937 companies have delisted from AIM, seeing shareholders in most cases lose everything. Whether taken private or simply bankrupted, it is a terrible indictment of this market that c.54% of all the businesses that have floated on it in the past 14 years have just disappeared. Curiously, Grant Thornton chose not to mention this when it compiled its report to celebrate AIM’s 20th Birthday.

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”.

China Flag

Why the London Stock Exchange is actively recruiting more China Norfolks for AIM

The growing scandal of blatant China frauds on AIM continues. What have the authorities done about it? Certainly, nothing to reassure. As I shall discuss, the London Stock Exchange is playing with fire.

Are you a customer of Barclays Stockbrokers? Has it disposed of your shares too without your permission?

Evidence started to emerge four weeks ago of a major problem with the nominee service used by clients of Barclays Stockbrokers, Barclayshare Nominees. There is now a strong suggestion that Barclayshare Nominees and Barclays Stockbrokers have disposed of clients’ physical stock without their permission. This is a shocking turn of events in the New World Oil & Gas (NEW) forward selling fiasco and points to an even graver flaw in the mechanics of the London Stock Exchange’s Alternative Investment Market. Something like this should just not be possible, but the numbers appear telling.

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.

AIM_20

AIM’s 20th Anniversary – Many Happy Returns (though not the financial kind)

As the Crony Capitalists sit down to a slap-up dinner to celebrate just how much money they’ve made from the mug punters, I thought I’d update the statistical performance of AIM. Oh dear, oh dear, oh dear.
NEW
NEW

Has New World Oil & Gas made a catastrophic error in its open offer?

By Friday afternoon it looked like New World Oil & Gas’ (NEW) board and its hapless regulated advisors had made yet another catastrophic error. Even by this group’s sheer rank incompetence over the last seven weeks, the latest blunder could be the worst. Not content to forward sell an unconfirmed placement, trample over shareholders’ lawful rights, ignore market rules, waste the company’s dwindling cash on an unjustifiable battle to save its advisors to the detriment of shareholders and try to force through an abysmally mispriced open offer, New World and its grossly inept advisors appear now to have broken the law.

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

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

ShareProphets Translation Service – New World’s extraordinary after-hours RNSs last night

The New World Oil and Gas (NEW) farce took another bizarre twist yesterday with not one, but two extraordinary after-hours RNSs. We have never before seen a holdings in company RNS which contains not only a cautionary statement, but also references to media commentary. These RNSs ought to come under Red Flags at Night, but the ShareProphets RNS Translation Service got in first. First up, at 6.18pm……

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?

Chocolate-Teapot

Bulletin Board Moron of the week #21 - in honour of the imbeciles who run the London Stock Exchange

Earlier today I revealed the full scale of the fraud that is Naibu. I also revealed that the LSE wants to get more China frauds, oops, I mean companies on AIM as it insists that there is no problem at all, Suddenly the board of the London Stock Exchange are starting to make posters on the LSE Asylum look like a bunch of Nobel prize winners. In that vein we honour the chaps at the London Stock Exchange with this week's Bulletin Board Moron contest.

NEW
NEW

London Stock Exchange – China Frauds and New World: how many more failures will it take? Heads must roll

Xavier Rolet thinks he is delivering great things to all people on his watch as CEO of London Stock Exchange plc. His board would have us believe that. Marcus Stuttard thinks he is the sheriff of AIM. They extol the virtues of London’s junior market. We are told of how they have raised billions for smaller companies, and how this has added billions to GDP. Well that is just rubbish: what about the billions of pounds that investors have lost on AIM? AIM is a failure.

NBU
NBU

Naibu - the smoking guns that show it was an AIM fraud from day 1

Naibu (NBU) joined the AIM Casino on April 5 2012 and from that day to the bitter end it always insisted that it had zero debt and cash of c£40 million. That was, as I shall demonstrate below, one monstrous lie. And this now brngs to the fore the whole issue of all the other China frauds on AIM claiming to be drowning in cash and debt free and the pathetic regulation of this whole shambles.

Newsboy

Notes from underground - Print is Dead

 B Anderson has commented on this item several times with this same argument: 'How can you compare Investor Chronicles with ShareProphets when IC charges and you don't? Start charging, then compare the stats. You have to compare like for like.'

Bearcast

Tom Winnifrith Bearcast Special - Its China fraud day

Naibu, Jiasen and over in Germany Joyou, it is all happening on the China fraud front. The London Stock Exchange's attitude and inaction is a disgrace. If you still own shares in JQW, Camkids, Jiasen, Chaintek or Asian Citrus you are bonkers. A short bearcast covering the day's events and a meeting with a feral cat.

Listen to the Bearcast:
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

New World Oil & Gas; the London Stock Exchange sails into uncharted waters

Since arriving in Jersey yesterday morning, it is clear that whatever happens at New World Oil & Gas’ (NEW) EGM today the aftershocks of this fiasco will continue to be felt for quite sometime. New World has 702million shares in issue, yet in the twelve trading sessions after the company announced its unconfirmed placement somewhere between 6.5billion to 9.5billion shares exchanged hands. So far the authorities have largely washed their hands of this mess, but sooner or later it is going to dawn on them that they cannot ignore it indefinitely. Heads have to roll.

Anarchy

New rules are needed on forward selling of placings

The forward selling of placing shares has been a pet hate of mine for a long time, and I think it is time that the FCA and London Stock Exchange did something to change the rules. The recent situation with New World Oil (NEW) has been an eye-opener for many private investors – judging by the chatter on Twitter and the bulletin boards – and many seem genuinely amazed that this practice is even legal and seems to be the norm!

LSE
LSE

Exclusive: How the London Stock Exchange Secretly Screwed investors over Daniel Stewart PLC clients

In November of 2014 the Qualifying Executives in the Nomad team at Daniel Stewart, led by China fraud specialist Mr Paul Shackleton all quit and it was forced to tell those AIM Casino companies it represented that they needed a new Nomad or would be slung off AIM. I can now reveal that the London Stock Exchange then secretly screwed ordinary investors in order to avoid its own humiliation.

NEW
NEW

ShareProphets Exclusive; proof of drought of New World Oil & Gas stock

The unfolding New World Oil & Gas (NEW) fiasco has taken some bizarre turns, but I’ve just seen written evidence from one new New World shareholder that his broker has only been able to settle 1,060 of the 10,000,000 shares he should have received last Tuesday. That isn’t a misprint. He has only received 1,060 shares, as of writing. If there were any doubt how serious the settlement situation is in respect of New World’s stock that is now blown away. All that can save the reckless forward sellers is for New World to issue more shares.

NEW
NEW

Is New World Oil & Gas’ board legally allowed to issue shares or conduct a vote?

There are an increasing number of indications that New World Oil & Gas’ (NEW) board of directors has lost control of the company’s share capital structure. If this is the case then the implications for the growing fiasco, concerning the reckless forward selling of the company’s unconfirmed placement, are immense. With material uncertainty over who owns the company, how can New World’s directors possibly hope to conduct a legal issue of shares in the company, or even run a fair and legal vote, until after it has cleansed the shareholder register?

Sorbic finally admits CEO has stolen all its cash but it could well be worse at this China AIM fraud

The London Stock Exchange denies that there is a problem with China AIM frauds. What planet is patrician twit Chris Gibson Smith on? Well it is only dirty little people (aka private investors) who are being cleaned out so who gives a FF anyway, Chris old boy? This brings us to Sorbic (SORB) which today admitted that its CEO has stolen all its money, In fact I reckon it’s worse than that.

NEW
NEW

Exclusive: New World Oil & Gas - London Stock Exchange confirms it will allow a short squeeze to happen

Within the last hour, the London Stock Exchange (LSE) has issued an official statement concerning the settlement situation involving stock in New World Oil & Gas (NEW). In short, the LSE has confirmed what we already knew, after it allowed New World to open on Tuesday. It is going to stand by its rulebook and allow market forces to try to resolve the fiasco created by last week’s reckless and incredibly forward selling of New World’s unconfirmed placement. The stage is now set for perhaps the biggest short squeeze in the history of AIM.

NEW
NEW

New World Oil & Gas; Why the forward sellers must pay

Tom last night published this charming bear cast. Buried deep within his signature potty-mouthed tirade he made some points, which demand addressing. Tom would have us believe that the poor old forward sellers should be given a gimme by the London Stock Exchange and let off the hook for the appalling losses they are going to suffer, as soon as New World Oil & Gas (NEW) resumes trading. This is wishful thinking for very simple and practical reasons, as I explain below. What is about to happen to the forward sellers of New World’s placement could prove to be the caustic cleansing experience that the Alternative Investment Market is in such desperate need of.

NEW
NEW

Will Beaumont Cornish lose its Nomad license over the raging New World Oil & Gas scandal?

In his bearcast earlier, Tom Winnifrith suggested that Beaumont Cornish should lose its Nomad licence for its appalling efforts this week, in overseeing RNS announcements from New World Oil & Gas (NEW). While I disagree wholeheartedly with Tom’s suggestion how the epic mess at New World might be resolved (cancelling trades would only leave the London Stock Exchange open to a massive class action lawsuit from and all those who bought New World stock), I agree entirely with Tom’s conclusion about Beaumont Cornish. Beaumont Cornish should have been investigated long ago for its conduct over New World, but this week’s succession of catastrophic errors leaves it extremely vulnerable. Here’s why.

LSE
LSE

More China fraud thoughts post the LSE AGM & Good news on Afren

Attending the London Stock Exchange (LSE) AGM on Wednesday was a profoundly depressing experience. It was like what one imagines a Communist Party Plenum in some third world country might be like, packed with muscular security and unsmiling jobsworths. Extremely un-British in all respects. A photocopy of a letter from my broker confirming my holding in the company was not deemed acceptable and I had to take a cab ride up the road to get the original.

LSE
LSE

Sorbic International and Naibu – All is well on the AIM Casino, according to the London Stock Exchange

This must all just be a complete coincidence. Two AIM China companies have announced the sacking of their head honchos by the non-execs. Both are suspended pending financial clarification. Both have engaged Chinese legal firms to gain control of cash/assets of their respective companies.  Both apparently have plenty of cash, it is just a small issue that the cash seems to be stuck in China.

LSE
LSE

London Stock Exchange -- the AIM Casino is a tremendous success caption contest

No prizes just a chance for folks to show their wit and to show their appreciation for the LSE in its heroic efforts to make the AIM Casino the success that it is. Perhaps shareholders in Arria NLG, Optare, JQW and other star performers today might be especially incentivised to enter. Post your captions in the comments section beow

LSE
LSE

LSE – Laughing Stock Exchange holds AGM for selected shareholders

You couldn’t make this up: ShareProphets has piled scandal upon scandal on to the authorities at the London Stock Exchange (LSE), with particular reference to the (complete non-) regulation of the AIM Casino. And so, with a golden opportunity to face down the critics the LSE decided that it did not want Tom Winnifrith present. No matter that he is a shareholder, turning up with proof of ownership and photo ID. No matter that, as a journalist, he had already been given clearance to attend. No, the LSE didn’t want any awkward questions. Is that because they knew that Tom is correct, and that therefore they would not be able to answer?

LSE
LSE

London Stock Exchange Refuses me AGM entry as its press office lies – what is it scared of?

Another day and another day refused entry to an AGM. This time it is the London Stock Exchange. Thanks to its press office for being a bunch of lying wankers – what exactly makes me so scary fellows?

Bearcast

Tom Winnifrith Bearcast 29 April - Pre LSE AGM Issue

I am off shortly to the London Stock Exchange AGM and events today show why AIM is such a joke of a casino. I refer to statements by Mosman, the er..lies of New World Oil & Gas and the total farce over Horse Hill. I give you full details of the next Dave Lenigas IPO and where to apply, not that I shall be doing so I stress. I cover the latest disaster to hit my good friend JimMellon, this time it is at Webis. and what the Benchmark and Hardide profits warnings tell us about wider equity valuations.

Listen to the Bearcast:
Sheriff-Of-AIM

Bunfight at the London Stock Exchange at High Noon today – top broker backs the peasants!

It is a 12 O’clock kick off in West Smithfield for the AGM of the London Stock Exchange and myself, Lucian Miers and various co-conspirators will be there to lick up a fuss about the joke that is regulation of the AIM Casino. We thought this was a peasant’s revolt but in his morning email to clients, top broker Andrew Monk, a respected member of the establishment has come out in our support! Well I never. Mr Monk ( who will not now be getting a knighthood) writes:

Bearcast

Tom Winnifrith Bearcast 28 April

As we prepare for the London Stock Exchange peasants revolt tomorrow I consider more failings on the AIM Casino. In the podcast I also cover Rose Petroleum, JQW and Camkids ( both China Norfolks) and the latest farce at Horse Hill.

Listen to the Bearcast:
QPP
QPP

A Question for AIM Regulation ahead of LSE AGM: Is Rob Terry Lying or are you useless?

At the AGM of the London Stock Exchange (LSE) tomorrow, Lucian Miers, Nigel Somerville and others will be quizzing it over the lack of regulation on its in house casino. I refer to AIM. So here is something I might ask and it comes from the fraudster and insider dealer Mr Robert Terry, formerly of Quindell.

LSE
LSE

The London Stock Exchange...I’m coming for you on April 29...calling the peasants to arms

On April 29th the London Stock Exchange (LSE) holds its AGM and this is a call to arms to all you peasants out there, that is to say ordinary decent private investors who have been shafted and screwed by the way that the LSE has mismanaged AIM turning it into a crime infested casino. It is time to hold the Board of the LSE to account.

Don’t Moan About the Share Price – Trade It

If you go onto most of the popular share chat forums they will be full of people constantly moaning about the share price. The majority of PIs obviously believe that the shares they hold should be worth a lot more – otherwise you wouldn’t buy them in the first place – but most lack the patience needed to just hold and wait for the fundamentals to be reflected in the market cap of the company, assuming of course that you’ve picked a good company in the first place. 

LSE
LSE

Who would like to attend the LSE AGM with Lucian and myself on 29th April – half price pizza after

Ok I am up for it. In response to popular demand I will be coming up to London on April 29th in order to attend the London Stock Exchange (LSE) AGM to give the useless tossers in charge a hard time about fraud on AIM, both Chinese and otherwise. Lucian Miers is up for it, anyone else fancy a bunfight followed by pizza.

LSE
LSE

Should I go to the London Stock Exchange AGM to ask about China frauds?

Whaddya think? Lucian Miers reckons that we should both buy a few shares (and this time I will have full documentation) and head along to the London Stock Exchange (LSE) AGM on April 29th to pick a fight over Naibu (NBU) and the other China frauds. Should we go?

LSE
LSE

London Stock Exchange plc – FY Results: This is why market regulation is failing

To much fanfare the London Stock Exchange (LSE) announced its full year results for calendar 2014 this week. We had CEO Xavier Rolet all over the news, telling everyone what a marvellous success story the LSE is. Sure, it made plenty of money for its own investors, reporting adjusted profit before tax of £492 million. But what of the users of its products? How have they fared?

AMI
AMI

African Minerals; shareholders lose everything, AIM’s flaws brutally exposed

If ever a case were needed for reform of the Alternative Investment Market then surely the disgraceful downfall of African Minerals (AMI) provides it in spades. Some might argue that the collapse of the iron ore price is behind the total destruction of over £2billion’s worth of shareholder value, but the reality is this merely provided the backdrop as I now reveal.

NBU
NBU

China – AIM just does not get it – shocking revelation

AIM is owned by the London Stock Exchange and regards itself as the junior market for the world. I regard it as a casino and its regulation department headed up by Marcus Stuttard, the self-styled Sheriff of AIM, as the biggest joke in London. I now have a shocking revelation for you which exposes the conflict of interest which will destroy what little credibility the casino still has.

Crime-Scene

ShareProphets Exclusive: Bucket shop market abusers find new way to steal from private investors

Private investors on AIM are used to watching millions wiped off the value of their investments by the illegal forward selling of placements, followed by gratuitous discounts forced by brokers. Not content with the scale of their illegitimate profits, it now looks like the market abusers have struck upon a new method of stealing from shareholders. It’s come to our attention that certain bucket shops are demanding a sizeable percentage of brokers’ fees for participation in placements. Sadly, we have been made aware of at least one broker, which is playing along with this outrage. This helps explain the mystery of the increasing number of stocks we’ve watched trade below placement prices, immediately after the completion of fundraisings. Even by the abysmal standards of AIM’s cesspit, this revelation is a new low.

Horse Hill; the stupidity of buying rumours

At about 3.30pm yesterday, Brokerman Dan revealed his exclusive scoop that Horse Hill was about to yield a commercial oil discovery. This triggered a mini-buying frenzy, which drove the share prices of the listed companies involved in Horse Hill much higher. As the most exposed Horse Hill play, UK Oil & Gas (UKOG) flew from 1.16p, to hit an intraday high of 1.7p, all within the last hour of trading! This morning, as a flurry of RNSs hit the market and the dust settled, it turned out that Dan’s figures were well off the mark. A commercial discovery hasn’t been announced (read the RNSs thoroughly for confirmation of this). Also, the current size of the discovery is “only” a preliminary estimate of 3.1million barrels of oil in place, not 15million to 20million barrels. In the ensuing sharp sell off, UK Oil & Gas is back down to 1.15p. Dan is likely to come in for criticism for his reporting of this event, but this is misguided. Here’s why.

Lenigas

Crime of the Century? Aussie Typo ref David Lenigas

I’d like to remind certain people who’ve attacked the mercurial David Lenigas, in recent weeks, that this is the man who a couple of months ago was being praised by the vast majority for making them collectively, hundreds of thousands, if not millions of pounds. (Where are they all now David?) Fast forward to the present day and Mr Lenigas is now being demonised on financial web sites, bulletin boards, comments sections & twitter.

TOM
TOM

Tomco Energy; how much longer will the LSE ignore forward selling of placements?

Tomco Energy (TOM) is not a company I have researched. In fact, I don’t really know anything about Tomco other than one fact. Its placement on September 26th was forward sold. Just look at the chart below and it is clear as day what happened. In the year leading up to September 17th, Tomco traded in an end of day close range of between 1.1p and 1.675p. This valued the business at between £20.5million and £31.3million. Suddenly, on September 18th, Tomco’s share price started to nosedive. In the space of a week it dropped roughly 25% to close at 0.82p on September 25th. The following morning, I imagine to the shock of most ordinary shareholders, Tomco announced it had raised £1million (before expenses) at 0.5p. Apart from the wanton destruction of shareholder value, what is saddest about yet another sordid little episode on AIM, is that whoever is behind this blatant market abuse cannot be remotely bothered to cover their tracks. They know the AIM Regulation team will pass the buck and say it’s not in their remit to investigate. They know the FCA will do nothing about this. They know no one will be punished. How much longer will the London Stock Exchange sully its reputation by allowing this wretched behaviour to go on?

Mosman Oil & Gas; the nature of price sensitive information

One of the more interesting aspects of the Mosman Oil & Gas (MSMN) story involves the nature of price sensitive information. When Mosman announced its first oil “discovery”, at 11:42am on June 13th, the share price went ballistic. Having opened at 11.85p, Mosman’s stock had just hit an intraday low of 10.5p before the company delivered its joyous news. By the end of the next trading day, Mosman’s share price had peaked at 56p, giving the company a market cap of £36.3million. Four days later and Mosman placed at 23p to raise £3million. There is no doubt that Mosman’s news release was a price sensitive event, but is it time to revisit the definition of what constitutes price sensitive information?

Sheriff-Of-AIM

The London Stock Exchange fiddles while AIM Burns, top broker Andrew Monk weighs in

There is so much wrong with AIM. China frauds seem to list at will. Companies can lie without censure. Folks like Sean Nutley at Silverdell and Rob Terry at The Innovation Group (where is he now BTW?) just “get away with it. Investors have completely lost trust in the Casino. It is a joke. The LSE could change it simply by getting the hapless bunch of complete cretins at the AIM Regulation Team to enforce rules, to kick off piss poor Nomads who float crap (Daniel Stewart) and to publicly name and shame. But instead it tinkers with the rule book. Top broker Andrew Monk of VSA weighed in this morning with this comment: 

Sheriff-Of-AIM

The AIM Casino is a Cesspit Cesspit of Crooks and Crony Capitalists and is dying – I’m off to meet real snakes before I vomit

Yesterday evening I was doing a bit of frigana chopping at the Greek Hovel and I heard a rustling in the bush I was approaching. I know enough by now to realise what was making the noise and beat a hasty retreat. But the stench of corruption on AIM tells me where the real snakes operate. It is a cesspit for crooks and crony capitalists who systematically transfer wealth from the many (mug investors) to the few (themselves). I have had enough of this for one day and am heading back to the fields to face real snakes. They are less loathsome. There is a solution but the London Stock Exchange does nothing. It is guilty of abetting financial crime by its inaction.

SER
SER

Sefton Resources; Dr Michael Green gets his last 52,000 pounds worth of flesh

Dr Michael Green is a very, very lucky man. For years he stood should to shoulder with Jim Ellerton and spun many a good yarn about the wonderful potential Sefton Resources (SER) had to offer. Ever the “friend” of private investors, Dr Green was always available to take a telephone call. Always. Tantalising quotes from him blossomed across bulletin boards promising “imminent” riches. There was just one small problem. It was all bullshit.

SER
SER

Come on Sefton Resources, break the mould!!!!

The reporting standards on AIM are atrocious. For roughly nine to ten months of every year, shareholders in the overwhelming majority of companies are left in the dark as to how their company is performing financially. What scarce information there is, is usually out of date by the time of release. The London Stock Exchange really needs to address this glaring weakness, but so long as it maintains the pretence of operating  “the world’s most successful growth market” I doubt anything will be done. Sefton Resources (SER) once again provides a perfect case in point why this issue matters so much.

SKR
SKR

The death of Sunkar Resources and the dire state of AIM

This morning I noted the final notice that Sunkar Resources (SKR) has left AIM. This draws to an end one of the more sorry episodes for this market in recent years, but many questions remain about the state of AIM. How could a company like Sunkar have been allowed to behave as it did for so long, without anyone stepping in? The answer to this is simple.

Eye-on-AIM

The misguided campaign to ban short selling – you decide!

I’ve watched with growing interest the momentum a group of bulletin board posters has been gaining in their campaign to ban shorting. Since forming their petition they have secured 3,453 signatures (the petition can be found here). As much as I personally believe this campaign is wrong, misguided and will fail, I still believe it deserves a greater platform. I know I am about to charge into a minefield, as a large part of the campaign is directed (wrongly) against some of our coverage here on ShareProphets, but regular readers of my work will know I am a passionate believer in the dire and urgent need of reform of AIM. (We also believe in real debate.)

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