By Nigel Somerville, the Deputy Sheriff of AIM | Friday 24 July 2020
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.
Controversy is putting it mildly! Yesterday morning at 7.25am AIM-listed Curtis Banks Group plc (CBP) announced the acquisition of Talbot and Muir Ltd , and fintech provider Dunstan Thomas Group Ltd for an initial consideration of up to £21.5 million to be funded through cash and an equity placing. Two minutes later a proposed Placing to raise £25 million was announced. The problem? Well, the company didn’t have the disapplication of pre-emption rights authority to raise £25 million in a placing. But that didn’t stop it.
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