By Tom Winnifrith & Steve Moore | Friday 14 July 2017
Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. 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.
Shares in Fox Marble (FOX) fell by almost 10% to 8.25p-8.5p on the back of news that it had appointed Beaufort Securities, Belfort Secs to its legion of admirers, as the company's joint broker. The assumption is that Belfort, whose clients are mainly bucket shops, will be doing a discounted placing. that is not the case, Fox has enough cash to get it through to profitability but Belfort's reputation proceeds it. Fox has gone on the record to say there is no placing.