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Filthy Forty Haike Chemical – the long goodbye

By Nigel Somerville, the Deputy Sheriff of AIM | Friday 16 March 2018

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.

Anyone foolish enough to be a shareholder in AIM-China play Haike Chemical (HAIK) has until 1pm today to accept an offer for their shares at 30p. An EGM on 12 March passed resolutions to delist from the Casino, the execution scheduled for close of play on 19 March.

Anyone who misses the deadline will, of course, still have the option for a couple of days to sell in the market. Mind you, on the closing spread last night of 1p bid to 50p offer that is hardly an attractive option!

This will be the 33rd delisting from the world’s most successful growth market from our Filthy Forty. Thirty-three out of forty! Are the Oxymorons proud of that?

Unlike many, this one at least offers the façade of a graceful exit rather than being an obvious and outright fraud, although questions remain – such as the ones raised HERE.

The only issue remaining now is which of the last seven will be next….

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