3796 days ago
TXO (TXO) has this morning raised £500,000 at 0.1p. The shares are off by 0.02p at 0.11p. The deal is probably good news for TXO, although the dilution is painful, but that is not the real story here.
The real story is the placing. When TXO started its roadshow the share price was 0.18p. In other words it fell by 0.05p as City investors were made “insiders” and asked to participate in the placing and by just 0.02p when the placing was announced.
So who dealt? Who blabbed? Who broke the law? Surely the share price fall is no fluke? Frankly the idea that it is a coincidence is about as credible as Tony Blair’s excuses for invading Iraq.
This is a clear open and shut case of criminal activity in the City. Of insider dealing. Of crony capitalism. But will anything happen? There is more chance of me getting to shag Cheryl Cole this weekend than of anyone doing anything about this.
The broker to the placing is Northland Capital, specifically a Ms Alice Lane who is as you can see is really rather foxy. I called Alice this morning
