UK 16:37 Monday, 26 October 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.
Booted off the AIM Casino in March after its Nomad walked, joke company TXO (TXO) run by Tim Baldwin promised a new listing on a Recognised Exchange in due course. I hope you were not holding your breath. At least it has finally sent its report for the year to September 30th 2014 to Companies House although it has not bothered to update its website.
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Comments
drunken sailor
That sounds like fighting talk Tom!
Take heart from the Justice minister:
http://www.bbc.com/news/uk-25551640
Justice minister Shailesh Vara said: “As a result of these new laws, anyone expressing views and engaging in public debate can do so in the knowledge that the law offers them stronger protection against unjust and unfair threats of legal action.”
I note in the same article:
◾Introduction of a new process aimed at helping potential victims of defamation online, by resolving the dispute directly with the person who has posted the statement.
How many of our fine upstanding legal firms who tout for business on the internet eg:
http://www.slatergordon.co.uk/media-libel-and-privacy/defamation-libel-and-slander/
“No matter what the nature of your defamation claim is, our Defamation, Libel & Slander Solicitors can help you. Call Slater and Gordon Lawyers 24/7 on freephone 0800 223 0774 or contact us online.
Defamation is when someone says, writes, broadcasts or communicates in another way, something that makes people think badly of you or your business; damaging your reputation and feelings.
A recent high profile Libel case that our Libel Lawyers won was for Peter Cruddas, the former Treasurer of the Conservative Party. In his libel claim vs. The Sunday Times, Slater and Gordon Lawyers won the case and achieved £180,000 in damages, including £15,000 for aggravated damages; plus his legal costs. Read the full story about this Libel case here.”
Bother to even mention this scheme to prospective clients. I must remember to ask SRA that next time I am e-mailing them.
Richard Young
Yep; I’m one of those who was suckered by the TXO ‘top up offering’ – didn’t read it properly and chose the wrong option – a fool and his money on this one for sure; receipt of ‘entitlements’ was just 6 days before the cancellation of listing. That had to be fraudulent? But in the UK the authorities usually do nothing about clear and blatant fraud – and with the cuts to the feds budgets (I wish we did have the feds) what chance of that improving in future. ‘ActionFraud’ is a fraud just by its own title. There is no action and you can’t even report anything substantial online without the site crashing and seriously wasting your time after trying to. UK has to be the worst developed economy for fraud – or best if you’re a fraudster – crime pays in the UK when it’s fraud. Don’t forget to pay for something in a shop though. Much less Police anti-fraud funding than most European countries and the US I believe. Don’t even mention the FCA or Insolvency. A slap on the wrist at worst and just go ahead and set up another company and do it again, and again.
drunken sailor
Richard,
Only just seen your comment. If you would like to drop me a line drunken.sailor1@hotmail.com I will fill you in on more detail.
I raised the matter with AIM regulation and FCA as soon as the company announced that it was giving shareholders the chance to round up. I made several posts on ADVFN and LSE saying what a scam it was. The news that some recently formed Panama Company had paid a ridiculous amount to buy shares off one of the other members of the OTR JV (it was not new money going into the company) came out shortly before they sent the letter to shareholders about the round up. As the Nomad had already resigned, there was no verification of the Panama deal, not that the Nomad ever bothered to verify very much anyway. I pointed all this out to AIM reg and FCA, Of course they did sweet FA as per usual. I raised the matter further with FCA complaints and they did sweet FA too.
Given that the company raised over £30K from the rounding up exercise, I strongly suspect that a number of people did more than just round up, but used it as an opportunity to buy even more. If you believed the OTR nonsense, you were paying (in post consolidation terms) £1 when TXO’s share of OTR alone was worth £1.60. Why else would anyone pay £1 (the minimum they could be sold for, as the capital reorg had not lowered the nominal by then) when the shares suspended at 50p and had been as low as 20p to sell?