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BREAKING African Potash Class action against Nomad Cantor - chocks away next month

By Tom Winnifrith, The Sheriff of AIM | Thursday 14 September 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 whistelblower who assisted me in exposing the fraudulent statements made by lyin' Chris Cleverley and African Potash (AFPO) and signed off with no attempt to verify by Stewart Dickson at nomad Cantor Fitzgerald has now assisted those investors who want their money back. Praise be the Lord, Cantor is in the merde.

Peter Petyt who is co-ordinating the action writes today:

A very brief update for you. Capital Law and I held a lengthy and very productive call with the "whistleblower" yesterday, during which very useful information was gathered which shows that the content of key RNS's signed off by the Nomad was factually inaccurate and/or misleading.

There is some additional number crunching to do but I am hopeful that we will have a fully formed funding proposal by the end of September and then, subject to funding approval, the go-ahead to proceed in October.

It's been quite a long haul to get to where we are now but do appreciate that we are breaking new ground here and we are going through a learning curve. So thank you for your patience and understanding to date and please bear with us for just a little while longer.

We are now almost 90 people in this action, so apologies once again for not being able to deal with individual queries.

Ends.

If this case goes through it sets a precedent. If a lazy Nomad signs off on an RNS which is untrue and cannot prove that it verified that RNS ( which it will, by definition, be unable to do), it pays over the shekels to punters who have lost out. And that threat should ensure that Nomad's are far more careful on what they allow to go out so cleaning up the AIM Augean stable.

As ever the private sector and market forces would achieve what tens of millions of quid squandered on formal and failing regulation managed.

It is not too late to join the 90 punters going after Cantor. Just contact Peter Petyt at [email protected]


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