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Manx Financial - why is Jim Mellon giving away free money?

By Tom Winnifrith | Tuesday 1 August 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.


The sub scale bank Manx Financial (MFX) admitted yesterday morning that it could do with raising some more capital for regulatory purposes. It had considered a placing but, for some reason, that idea had not flown. But luckily its chairman Jim Mellon had a stack of warrants at 6p outstanding with a deadline for exercise of er...yesterday. With the share price at 8p surely this was a nil brainer for my good friend, the offshore based asset stripper, Mellon?


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