UK 06:07 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.
Mosman Oil & Gas (MSMN) has walked away from its duff STEP deal having raised A$6.47 million before ( no doubt grotesque) costs to do the deal. Without that cash it would have gone bust as cash as at 8 December 2015 was just $5.4 million. But where does it go now? Down the plughole is the best guess.
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Comments
Antondec
Further to my suggestion of management having to hold a minimum of 15% equity in a business surely a further improvement would be that if companies raise funds with a specific reason they can only use those funds if they proceed as described. The monies can remain in escrow until needed or returned of not. If it’s a “keep the lights on placing” let a company say so and see who really wants to pony up the dough. It would also stop a lot of foward selling too by those in the know.
I am always reluctant to advocate regulation as a solution but it appears some matters need tinkering with to try and improve corporate governance