By Nigel Somerville, the Deputy Sheriff of AIM | Friday 4 September 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.
As previously flagged HERE there is some mystery regarding a warrant exercise announced by AIM-listed Tern plc (TERN) on 17 August (see HERE). I wondered where these warrants, which were exercised at 0.02p, had come from. Following quite a bit of enquiry, it is still unclear. What is also unclear is where the responsibility may lie. So this is not an attack on Tern plc, or its Directors, or its Nomad. It is more a case of how the current regulatory set-up has once again failed investors. In this case it is in a small way, but next time?
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