UK 19:17 Wednesday, 23 September 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.
Tom Winnifrith noted earlier HERE the entry into administration of Globo plc (GBO) - the announcement from the administrators including that they “will be applying in due course for the cancellation of the admission of the company's shares to trading on AIM”. FTSE has now updated on this…
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Comments
DUCK AND DIVE
It’s remarkable how quickly the good ship Globo went down once the CEO was kicked out of the wheelhouse. The NEDs must have been gobsmacked by what they found and, at least, there has been no beating about the bush since then.
This has been a big scalp for ShareProphets. Congrats again on doing and saying the right things while others procrastinated.
drunken sailor
Sharesoc denying Roger Ramper Lawson’s culpability for losses his ramping caused and trying to claim they warned shareholders:
ShareSoc does not give buy or sell recommendations of course, but we have covered the company in the past. For example as long ago as January 2012 was the first mention in our newsletter and it we subsequently described it as a “double whammy of risk” in February 2012. Reports on all the Annual General Meetings of this company have been available to ShareSoc Members and the questions posed by shareholders covered many of the issues raised by negative commentators. The concluding comments in the last report were negative on the debt raising.
Now if there is a clear fraud as seems quite likely at this time (e.g. overstatement of revenue, even assuming the reported cash held is accurate), then what do investors do? To some extent they need to rely on the administrators to pursue those persons responsible (although shareholders can pursue “derivative actions” in some cases if the company does not). That might include actions against the auditors if they were grossly negligent but such actions can be difficult.
Possible Actions
ShareSoc has formed a committee of shareholders to look at possible legal action and other steps to pursue recovery of losses. Any private investors who were significant holders of shares in this company should register their interest on this web page so as to receive more information as it arises.
http://www.sharesoc.org/globo.html
What a bunch of tossers!