By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 11 January 2017
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.
Well there you go: two letters to AIM Regulation and half an hour after the second one is published ShareProphets AIM-China Filthy Forty Taihua (TAIH) releases an RNS saying it has a new website: www.taihplc.cn. Amen to that - and a rare well done to the oxymorons. A dot.com becomes a dot.cn - was that really so hard to explain to the market in an RNS, that it has taken over six weeks to update investors since the demise of the company's previous pages?
Quite why it has taken so long I have no idea: I first asked where the website had disappeared to on this fine organ back on 26 November last year, again on 4 and 12 December, before writing to AIM Regulation on 29 December and yesterday.
So that is one question cleared up (and in the process one or two other potential issues are put to bed for now). Good.
Now all we need is an update on what has happened to the share buy-back which was announced at the end of August, with the company updating at the end of September that the mechanism would be announced "shortly".
And what about the related party receivables issues which seemed to be a bit of a Red Flag in the FY15 accounts?
For that matter, how is the cash collection going, as discussed HERE in relation to the 2016 interims?
Perhaps all is well at Taihua after all, but there are plenty more answers to come before I will feel sure.
Meanwhile, with the sense that the answers are having to be dragged out from the company, there is no need to own this stock. I still have it as a sell.
Never miss a story.
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