Disclosure: I own shares in one or more of the stocks mentioned. 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.

New World Oil & Gas – unsettled positions being settled, what next from the authorities?

By Ben Turney

15 July 2015 02:53

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This morning, Metal Tiger (MTR) announced that its outstanding unsettled position in New World Oil & Gas (NEW) has been settled. Two months late, the failure of regulated market participants to fulfil their contractual terms has materially and detrimentally impacted the fortunes of hundreds, if not several thousand, private shareholders up and down the country. The shareholder action group could not reach the 10% threshold to requisition a general meeting directly because of this. While the London Stock Exchange failed miserably to enforce its own rulebooks, the FCA stood idly by and did nothing. This whole episode is dreadful for the reputation of AIM and calls into question how trustworthy or viable is this market?

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Comments

wildrides

15 July 2015, 09:43

They wont take any action because that French twat in charge does not want any bad publicity . The French always sweep their shite under the carpet ………… all their politicians do it . Its a national way of life over there for people at the top . We need to all buy some shares in the LSE and vote the twat out . The report on the AIM market was obviously misleading to shareholders and complaints need to be made about lying to investors about AIM performance . The man is not fit to govern . I knew as soon as they let Oily Chris off the hook that it was all gonna end badly for the meek . I hear that Broken man has been saying “we are all in the market to make money” The difference is I am in the market to make money legally, generated by my own prediction that a particular company will make real advances in its business model . That is to say real fundamental progress being made . Most of what goes on on AIM is just about trading a wave of false sentiment created by pump and dumpers pretending to be journalists or bloggers or BB guru,s . One day the meek will get a wave of karma on their side . It cant come quick enough for me .
Offhacked

15 July 2015, 13:35

Have decided to sell all AIM shares and will make maximum effort to tell people to never invest in any AIM Company , ever , not for any reason
MrMoto

16 July 2015, 08:14

http://www.investegate.co.uk/stock-exch-notice/rns/n15-15—-new—-restoration-of-trading/201507161500052850T/