UK 08:33 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
Global Lock and Safety (GLOK) was incorporated in the British Virgin Islands in December 2009 and listed 250 million shares on AIM on 21st October 2010, with Allenby Capital Limited as the nominated adviser and broker. The future looked bright with the then CEO claiming, "We are already one of the leading security providers in China and we know of no other providers of this type of comprehensive integrated security service in the Peoples Republic of China.”
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Comments
alcira16247
Bill
Great read highlighting yet another POS from China.
When are these pathetically useless Nomads going to be held responsible for bringing these blatant frauds to AIM? Even seasoned market pundits, like IC’s ace share picker, Thompson, can be sucked in and hoodwinked by these Norfolk’s, so what chance do us ordinary punters stand?
It’s thanks to ShareProphets investigational excellence on this matter that many folk will have read and heeded the warnings, thus saving much of the hard earned stuff!
Keep up the great work, team.
TCS
“The UK-based non-executive director Andrew Gee tells me he has been constantly struggling, with no success, to gain information from the company.”
Another useless twerp to add to the shitlist
We shouldn’t just be taking note of the incompetent brokers and nomads but also the non-execs who are all too happy to sit and bank the NED fees for turning a blind eye too.
its me
I met with this company in China, they wanted to get a £50Mil market cap on revenues I seem to recall of about £400K!!. Needless to say I walked away!! I wasn’t shocked when I saw that Allenby had acted for them and brought them to market. I seem to recall there might have been a small fund raise probably all local Chinese money and of course unconnected to the BoD!!!. Probably to satisfy free float and a little working cap. The purpose of this post is NOT to slate Allenby it is more to do with AIM.
This transaction is a classic case of why the rules for NOMADS were and are at best ill conceived. At the time Allenby were newly authorised having come out of HB, Global Locks was one of their earlier deals. As a NOMAD your corporate finance staff need to act as lead on a certain amount of deals over a period of time to keep their QE status, the NOMAD needs a minimum of 4 QE’s, therefore if the NOMAD drops below a certain number of QE’s the company is put on a moratorium. AIM reg are judge, jury and executioner, I know of competent Corporate Financiers who have been made to wait ages when changing firms for their QE status to be approved, if at all. A star chamber springs to mind. Therefore, if you can’t get a replacement QE that AIM reg approve of as a NOMAD your company is finished or shall we say fucked, your company also has negligible value as you can only act for your clients and are not allowed to take on new business. Causing greater problems.
Having QE status also brings a major salary uplift so it is only right that employees wish to retain their status, which brings me to my point. Floating a company on AIM is only a process as long as the company can satisfy certain criteria, so basically any company can get a listing on AIM even if it is a PoS as we have seen here with GLOCK and many others. The upshot being, QE gets a tick in the box, Nomad gets a tick in the box and thats one less transaction we need to worry about to keep our status, which is of course is the most important thing. In my mind this is the single most contributory factor to the attrition rate we see on AIM.
Although the rules for QE’s have changed slightly (only due to lack of IPO’s) the intent is still the same. Until the BoD at the LSE haul AIM reg over the coals and take them to task over this farcical NOMAD eligibility criteria, it will not stop. It’s also effectively a closed shop, this has the added effect of maintaining a low quality threashold in all aspects of AIM.