By Nigel Somerville, the Deputy Sheriff of AIM | Friday 5 April 2019
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.
This is utterly bizarre: on 28 March AIM-listed POS Management Resource Solutions (MRS) announced the acquisition of Alerion Consulting Ltd from its founder, Elliott Talbott, and others for a consideration of £1.32 million to be satisfied by the issue of MRS confetti at 5p per share and we were told that an application for admission to trading of the consideration shares on or around 4 April would be made. Now, on 5th April – at 9.38am – we learn that the application to have them admitted to trading hasn’t been made at all, yet the acquisition completed on 28th March!