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Rosslyn Data - moves goalposts with bailout placing to hide its abject failure

By Tom Winnifrith | Wednesday 26 April 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.


Floated at 33p by Lagos Securities, or Cenkos as it prefers to be known, on the back of a prospectus that forgot to mention critical damaging information, Rosslyn Data (RDT) has been a serial disappointer and was clearly set to run out of cash this year, despite numerous protestations from its discredited management that this was not the case. And so today, the oldest trick in the book - a bailout placing dressed up as an acquisition. The price of the bailout, just 4.5p.


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