By Tom Winnifrith, The Sheriff of AIM | Tuesday 8 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.
Having been appointed as Nomad and broker to the highest profile AIM company of the week, Telit Communications (TCM) at 7.01 AM yesterday, Mr Stuart Andrews & Mr Richard Chambers of Finncap and their colleagues must be shitting briicks following today's quite stunning revelations earlier about Mr Oozi Cats/Uzi Katz, his Mrs Ruth and events in Boston 25 years ago. Or maybe it is just another couple holding Israeli passports with the same names and birthdays who were involved in multiple frauds?
And so it is no suprise that Oozi/Uzi is this afternoon set to meet up with Chambers for what is now a crisis pow wow. If the Feds want to check out if it is this Uzi (born 1961) who fled the USA rather than face trial call Dick on 020 7220 0500 and he can tell you where to pitch up to. Im am sure this is all a remarkable coincidence but I guess the Yanks will want to check it out anyway just to eliminate Mr & Mrs Katz, sorry Cats, from their enquiries.
If I were at FinnCap I would quit as Nomad and broker at once. It did not float the company. It has not raised a cent for it. It has not strongarmed its analyst poor, Lorne Daniel, into taking time off from writing yet another glowing note on uber-dog TrakM8 to write a glowing note on Telit. So it loses nothing by resigning at once. And the odds on any new Nomad taking this company on now are zero so that would be an immediate suspension of the shares and with the company in debt and burning cash the Fat Lady will soon be able to make a diary date.
Some folks have taken comfort from this morning's announcement that Oozi Cats, ahem sorry Uzi Katz bought 400,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares"), at a weighted average price of 171.87 pence per Ordinary Share yesterday.
For a bloke who trousered £24 million from selling shares at 340p just ten weeks ago this £685,000 is small beer. More importantly the order was placed before the shock revelations emerged. It is no more than a spoof and a badly timed one at that.
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