UK 03:28 Friday, 9 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.
In yesterday’s piece HERE I discussed IGAS and its takeover of Aussie-listed Dart Energy with regard to disclosures not given to Dart’s shareholders about IGAS CEO Andrew Austin’s EFH ‘loan’ deal as announced by RNS on 16 Jan 2014, which had stated that Mr Austin had transferred shares in the company to Equities First Holdings as security for a loan. All the other companies caught up in the EFH scandal have clarified that the deal did involve the handing over of title and voting rights to EFH (i.e. they were disposals) albeit the ‘loan’ deal contains an option to buy the shares back. But IGAS and its Nomad still refuse to concede that Mr Austin’s deal was the same. So now we come to the farm-out deal with Total and its implications, the potential ugliness of which might finally get a full disclosure of the EFH deal out of IGAS and its ostrich of a Nomad.
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