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IQE – In the dock as the Equities First scandal re-emerges with an incomplete and therefore misleading statement

By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 6 August 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.


We have not heard from Equities First Holdings (EFH) for a while, but regular ShareProphets readers may remember the scandal which emerged five years ago whereby directors of AIM companies announced they were buying shares when, if fact, they were selling vast numbers of them to EFH with the right, but not the obligation, to buy them back. Such fine enterprises as Rob Terry fraud Quindell (QPP – now Watchstone), Igas (IGAS, under Andrew “piggy” Austin), Cloudbuy (CBUY), Angle (AGL), Optimal Payments (OPP) and, of course, IQE (IQE) were all dragged in. Well now Drew Nelson, CEO of IQE has done another deal with EFH – and the announcement stinks. Has the company learned nothing from last time, when all of the above companies had to restate and restate again?

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