UK 22:45 Wednesday, 21 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.
ShareProphets AIM-China Filthy Forty outfit China New Energy (CNEL) announced a memorandum of understanding with Sunbird Bioenergy Africa Limited on Friday, in relation to projects in Zimbabwe and Zambia. It also announced that the signing of any binding agreement would be treated as a Related Party Transaction since Mr Richard Bennett, China New’s sole independent NED (see HERE) is a director of Sunbird. I’ve already discussed the potential corporate governance Red Flag that I see from that (HERE) but what or who is “Sunbird Bioenergy Africa Limited”?
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
alcira16247
Nigel
Reading through your excellent well researched exhaustive analysis, one feels these entrepreneurial gentleman, Bennett, Rainford and Gee are pupils from the school ………. “Oh what a wicked web we weave when first we practice to deceive”
There appears to be a very nasty smell emanating from this little burst of fine enterprise!
Miges
Sunbird Bioenergy is again in the news. The Swiss TV emission ECO had a piece on March 21,2016, that Addax Bioenergy Switzerland plans to sell its 455 million EUR investment to Sunbird Bioenergy Ltd. We’re wondering, however, how a small company like Sunbird could swallow that big investment of Addax? We are monitoring the company Addax Bioenergy since 2010 when it started in Sierra Leone its sugarcane to ethanol project. On ECO see: http://www.srf.ch/news/wirtschaft/addax-bioenergy-schweizer-bioprojekt-in-schieflage