By Tom Winnifrith | Friday 1 July 2016
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.
Today we are told by Highlands Natural Resources (HNR) that the "institutional investor" that it refuses to name which bought 10 million 25p warrants ( and has an option to by 20 million more) at 1p per share has exercised 5 million warrants. Oooh er missus, now this spiv & chancer, sorry meant Institutional Investor must reveal himself.
You will remember the warrants were owned by DT Ultravert a company owned by Highlands bosses Price & Mendell and were handed out along with stacks of shares when Highlands bought rights to IP from DT just weeks after DT was established. That deal stank. And more critically Mendell refuses to address the issues raised in the damning expose HERE
This warrant exercise is essentially a disguised placing for out of cash Highlands. DT has earned just £100,000 on the deal for it to spunk. But Highlands now gets £1.25 million.
If the "institutional investor" is serious about buying into all this Turkish he or it now owns 5 of c39 million shares and must issue a TR1 promptly. If it is just a chancer and spiv who has already flogged 5 million shares to Bulletin Board Morons at 26p+ so making a sure fire profit the lack of a TR1 will show that up. I asked the PR firm when to expect a TR1 and have had no answer.
There will be no TR1, the spiv is making a turn and has no interest in holding this crap at al. Hence the fact that only 5 not 10 million warrants have been exercised. If the Morons and the company can push the shares ahead, the spiv can forward sell and then exercise more warrants.
This is so transparently horrible that it is shame on all involved, notably Cenkos which acts for Highlands. Fundamental investors know that while Paul Mendell refuses to address the issues HERE this stock is just not investable. Ahead of my next bombshell expose due shortly, sell
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