By Nigel Somerville, The Deputy Sheriff of AIM | Saturday 20 June 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
After hours yesterday, Friday, at 6.26pm, came a truly horrific RNS for Afren (AFR) shareholders. Not that the scale of the devastation will come as any surprise to regular ShareProphets readers, Afren published full details of the previously announced restructuring. But to rub maximum salt into the wound, the RNS was released at the last moment possible before the system shut down for the weekend, and was the last company RNS of the day. Bell Pottinger, PR adviser to Afren, must be really proud of its work there. I hope the PR flunkies all slept well last night.
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