UK 02:59 Friday, 6 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
In my last piece on the latest twists in the ongoing shambles I looked at the apparent mis-match between what New World Oil and Gas (NEW) was saying, and the Market Notice issued by the London Stock Exchange. Ben Turney has since published this incredible article – I hope that he made sure that the board of New World had been offered a chat with the Priest and blindfolds all round before releasing the trap door. And if that was not enough, there are today’s revelations that placees of the failed placing were not informed of the required shareholders approvals. Meanwhile, a look at shareholder value.
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Comments
DUCK AND DIVE
Great insight, Nigel – and beautifully written.
The “legal” costs look too high to be true and the whole bodge-up looks suspiciously like a plan to settle as many shares as possible on Cornhill — presumably so that they can mitigate their own naked short exposure.
wildrides
This has got to be a candidate for the AIM value destruction contest surely? and Conroy gold as well ? So much choice ………………….. Actually , thinking about things , it would be good if share prophets had an alternative “fair trade” Aim index list , for example :- This index would comprise of only those AIM companies judged to be :-
1) thought to have a genuine eventual profit motive and intention one day to pay dividends .
2) reasonable director renumeration, fees and options proportionate to progress made
3) regular and accurate reporting via RNS
4) no fibs lies or fraud under current exec board members management period in office
5) no reporting via twitter and other informal media
6) Above to be judged by a panel of six SP writers chaired by Tom , Ben or Nigel
7) list reviewed quarterly by judging panel
8) The list would NOT indicate judges wish to invest in said company , merely that the company is judged to adhere to the criteria above and the AIM RULES .
9) The SP reader himself to decide if a company is a good investment fit for them personally by own research of SP writers articles . The list is simply an “are they a good boy at school” list .
this would be simply a list of all AIM companies known to meet the above criteria in so far as the judges are aware , to the best of their knowledge and expertise . No liability attached to the judges . Companies can ask why they are not on the list but have no rights to alter their status of ON or OFF the list . The emphasis would be to improve their inadequacies to gain “reputation listing” with SP. The reader charged £2 per month by DD for access to the list 24/7 to check they are not investing in a “problem child” who does not adhere to the basic rules .
nigel somerville
D&D – thank you for your kind comments. Yes, the whole thing looks to be a bodge so as to fall between so many stools which is why the offer document is so long. I do not (yet) know whether Cornhill and its’ clients are victims or villains, but one thing is for sure: the shorts will win hands down almost regardless of outcome.
Wild – you qualify inclusion on the list so much that I rather fear that the list would be short to the point of negligible! As such I am happy to sit on the panel to consider whether to include ANY companies at all!