3226 days ago
It is all kicking off. Greece & Grexit, The Chinese stockmarket bubble bursting, ISIS on the rampage. The eyes of the world will not be on London listed companies. It is to quote that Labour spin doctor on the day of 9/11 “a good day to bury bad news”. What better day to sneak out a profits warning or a deeply discounted placing to your mates, the City spivs?
3549 days ago
Westminster Group (WSG) last Thursday decided to raise just over £1 million in a placing for reasons I understand and believe to make sense. When the calls from its broker SP Angel started to be made the share price was 50p in the middle. That was late Thursday afternoon.
Between 10 am and 11 am on Friday the mid-price fell – on no RNS – to 46p. Perhaps it was just a coincidence? Oh is that the tooth fairy I see dancing in the corner with Father Christmas?
Let us be clear here. Some folks were told about the placing because they were invited to take part and either sold shares themselves or got others to sell shares at 49p and downwards. They did this in the explicit knowledge that they could buy the stock back at a lower level in the placing and of course that selling pushed the price at which the placing too place down, to 40p.
This is insider dealing.
3618 days ago
Even certain advisors to AIM and ASX listed Tangiers Petroleum (TPET) have started to call The Sheriff of Aim to express their concern as to the way it communicates with investors. Well hang on fellas, are your long suffering UK stockholders on the AIM Cesspit about to get another kick in the Gonads?
Tangiers, you will remember placed stock with flippers and other City spivs at a discount to what mug punters were paying just a few days ago on 13 May – it raised $5 million. Its next trick was to promote an article via an ASX release by a tipsheet which made up bogus facts in a classic rampathon. Natch, many private investors rushed in overpaying for this POS stock as the shares raced ahead. In promoting an article packed full of lies, Tangiers disgraced itself.
