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By Tom Winnifrith, The Sheriff of AIM | Saturday 15 July 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.
To be thrown off one market because your adviser tired of signing off on lies is understandable, if you are a fucktard in AIM Regulation who does not care about fraud. But, to paraphrase my fellow Anglo Irishman Mr Wilde, to be thrown off two markets for that reason looks like carelessness. And that brings us to the fraud African Potash (AFPO).
You will remember that shortly after threatening to sue me for libel for pointing out what a fraud it was, African Potash suffered the misfortune of Cantor Fitzgerald quitting as its AIM Nomad. No-one else would act for the company, even though its senior non exec is the perma-tanned expenses guzzling Lord Peter Hain of sleaze.
With such a reputable NED, a man of true integrity, it was not hard to get a NEX adviser in the form of Peterhouse Corporate Finance, a firm that would act for any corporate with a pulse. In fact it would act for a dead corporate as long as it was paid in advance.
In April of this year shares in Potash were suspended on NEX after Potash - which has no cash and massive liabilities - announced a plan for an RTO of a firm with no cash which is controlled by lyin' Chris Cleverley, the CEO of the Potash fraud. Hmmm two firms with no cash, vast liabilities, no business model, very dodgy historics as revealed HERE - and run by lyin' Chris and Lord Hain of sleaze: what could possibly go wrong?
On June 16 Peterhouse finally had enough of all the nonsense and quit as adviser. And that meant that if there was no replacement adviser in place by July 14 ( 4 weeks after D day) the shares should have under NEX Rules have been booted off the market. That really would be game over surely?
But has there been any announcement? No? I contacted NEX Markets on Friday? natch it has not responded. Perhaps having the esteemed Lord Hain of Sleaze on board is a plus point. After all, rules are really only for the little people aren't they?
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