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Latest News

BCA

BCA marketplace – Utterly bizarre bid or non bid from Apax

We know that BCA Marketplace (BCA) is highly operationally and financially geared. It has too much debt. Its chairman dumped over a million quid's worth of shares at 188p – and Avril is no fool. The car market is struggling so there must be questions over earnings visibility . and yet from left field there may be a bid. Bizarre.

Bearcast
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Tom Winnifrith Bearcast: think of me with those muscular body builders laughing at me

Yes, today's training session for my Woodlarks charity walk is down at the gym run by local Tory stalwart Perry. Everyone else there is a muscular body builder. Then there is me. As the muscle men laugh at my pathetic efforts please donate a tenner ( as 95% of you have failed to do) to the 32 mile 28 July charity walk HERE.  In the podcast I discuss rescuing junk mail from Oakley's piss and netting £922.77, Audioboom (BOOM) - do the maths, its looking dire even post placing for free speech denying worm Rob Proctor, Feedback (FDBK), Avanti Communications (AVN) and Inmarsat (ISAT), Jim Mellon's Fast Forward (FFWD), LightwaverRF (LWRF), PCGE (PCGE) and AIQ (AIQ).

TERN
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Tern – another loan to cash-strapped Device Authority, previous repayments kicked into long grass

AIM-listed Tern plc (TERN) has raced further ahead to a stunning 34p last seen. Well done to shareholders, and a Eurovision nul points to me. But I see no reason to change my bearish stance: the shares may have raced ahead, but this morning Tern announced another bail-out loan to investee company Device Authority and pushed back the repayment on its previous loans by another three months. We also had a Statement re Share Price Movement last Friday: the last ones we had didn’t play out at all well, did they!

Timebomb

It is difficult to overstate the looming dangers

Stock market investors are now in an environment where the benign, bullish conditions of the past 35 years are highly unlikely to be repeated and investment strategies that have worked so well like passive indexing via index ETF’s are unlikely to prove robust enough for the coming reset and sizable amounts of capital is set to be lost for a very long time.

XLM
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XLMedia – argues “stable” underlying trading… so why a 30% share price decline?

Trading update from self-styled “a leading provider of digital performance marketing”, XLMedia (XLM) includes “underlying trading in the year to date has been stable with the group actively deciding to focus on higher margin business and ceasing certain lower margin media buying activities”. Hmmm, so why a current approaching 30% share price decline, towards 120p?...

QPP
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Quindell – KPMG and senior partner William Smith fined by FRC for failings – but not enough, lessons not learned

For its 2013 financial year, the fraud Quindell (QPP) switched its auditors from RSM Tenon – already fined by the Financial Reporting Council as a direct result of my work – to KPMG. But unusually for a firm claiming to be so large it chose the small Southampton office headed up by Senior partner William Smith to check its books.

KDR
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Karelian Diamonds – 500k placing at 4.5p: it’s not enough – when’s the next placing? SELL.

AIM-listed Karelian Diamonds has, as I predicted HERE, HERE and HERE, announced a placing to raise £500,000 before costs. At 4.5p, that is a discount of just over 30% to last Friday’s closing mid-price. Ouch! When I first commented on the lack of cash last November, the shares were 0.375p (mid) before they were consolidated (so they were 9.375p in today’s money): I think that means it’s time for an ouzo or two over at Deputy Sheriff Towers!

UKOG

Reader Poll Result – more than half of you think UK Oil & Gas will be lucky to get its rescue placing away at 0.6p

On Friday we forced UK Oil & Gas (UKOG) to fess up that it was trying to raise £5 million. It is struggling to fill that back and the shares – now just 1p-1.05p – at least partially discounts the pain that is coming. But ShareProphets readers, when polled HERE, think far worse is coming. I agree.

AIQ

AIQ – open offer oversubscribed, still an outright SELL

I called Standard Listed AIQ (AIQ) lower when it announced its Open Offer and the shares have (very roughly) halved, but there is plenty more to go. This morning it announced that the offer, at 20p, had been oversubscribed but remember that the net assets per share (all cash) are around 8-10p.

Malcolm

As Beaufort is Being Wound Up that Injust Liability on Investors Is Wound Down

Hello Share Squirters. The Beaufort saga has caused many shareholders a lot of anxiety. That’s not just among clients of this relatively small broker. As there are dangerous principles here which concern all investors. While I wish the administrators had offered smaller estimates of the damage expected to be done by Beaufort’s collapse.

Wray

July 9th – an evening with Nigel Wray, Tom Winnifrith, Optibiotix and more – grab a free seat today

Maybe you cannot wait for the UK Investor Show 2019 on March 30? Well if that is the case here is a bonus preview event for you all, the first UK Investor City evening with Nigel Wray. Nigel will be joined in conversation by Tom Winnifrith  - that is me - and there will be four truly disruptive companies presenting including Cambridge Cognition and Optibiotix.

CNEL
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Filthy Forty China New Energy – a selective buyback?

On 27 December 2017, ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) announced an EGM to allow it to buy up to 20% of its shares back. The EGM duly passed the relevant resolutions on 17 January 2018. So how many shares has it bought back?

PLUS

New ESMA regulations are likely to have a negative impact on Plus500

CFD trading platform Plus500 (PLUS) has had a very strong start to the year and its share price has risen by around 90% off of the back of a strong trading performance, but I would definitely question whether that is set to continue going forwards due to some regulatory changes which are about to come into effect.

Boom
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And today’s bad news for Julie Meyer – Henry Gewanter has instructed counsel

Her company was struck off as authorised by the FCA on Friday. As you can see HERE. Yesterday I published the most damning of emails yet about Julie “lingerie on expenses” Meyer HERE. I am afraid, as she praises the good Lord with her fellow devout Christians at Holy Trinity Brompton this morning, I have more bad news.

Bearcast
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Tom Winnifith Bearcast - Will the Lombard crew be prosecuted for fraud & I'd rather not write in ignorance like Cynical Bear

It is a day off from training, after yesterday's ten mile walk. My 75 year old coach, Brian Basham, says I must rest my muscles. I restart again tomorrow but how about you donate a tenner to a great cause and sponsor me HERE? Meanwhile i discuss Cynical Bear's latest piece written in ignorance on Big Sofa (BST). He might be right and I may be wrong. So far he has called it right. But what we do know is that he is guessing and writing in ignorance, I'd rather not do that. Then I look at fund managers making pathetic excuses for their own failure over Persimmon (PSN). Finally after today's shocking Lombard (LRM) expose HERE I ask will the authorities finally hold individuals to account to show they really want to stamp out fraud.

DIS

Distil – results positive as anticipated, shares start to respond: BUY

Recent 2.25p offer price share tip HERE, alcohol drinks brands owner, marketer and seller Distil (DIS) has announced results for its year ended 31st March 2018, emphasising “it was an important year because we were able to demonstrate that our business can successfully grow the top line, the bottom line, invest in brands and improve cash flow”

UKOG

Reader Poll: at what price will UK Oil & Gas get away its bailout £5m placing after our Friday expose

It was a sordid end to the week for UK Oil & Gas (UKOG). On Thursday its "consultant" David Lenigas was ramping the shares on twitter with outrageous claims as exposed HERE. On Friday morning I revealed that a placing - which clearly Big Dave knew nothing about - was underway HERE and by midday UK had fessed up with weasel words, see HERE. The shares closed Friday at just 1.05p-1.1p. So at what price will the bailout placing be? You vote below with a deadline of midnight Sunday:

BST

Big Sofa Technologies: Beware the cosy fireside chat

I’ll keep this relatively short as I’m meant to be enjoying a long weekend away at a big family gathering celebrating my step-father-in-law’s 70th birthday but also I don’t have a lot to add to my previous comments on Big Sofa Technologies (BST). However, I felt it appropriate to respond to the latest view on last week’s results from the HSR team.

LRM
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Lombard Risk Management: CEO & FD lied to get takeover agreed, both fired with immediate effect - surely this is fraud?

Shareholders in Lombard Risk Management (LRM) do not care – they got a 13p cash offer from Vermeg and have banked the cash. But now the low countries acquirer is hopping mad. It has fired Lombard’s CEO and FD announced widespread redundancies and stated that the Lombard team lied about their prospects so results for the year to March 31 2018 will be way below forecast. The statement is damning and begs big questions of many. Surely the Lombard bosses stand accused of fraud? Should not the FCA and SFO have a butcher's?

WPCT

Woodford and Autolus – Some much needed good news…..in the short term at least

As I’m always quick to criticise, I thought it only right to congratulate Mr Woodford when the rare pieces of good news turn up and Autolus’s news yesterday is undoubtedly good news although I’m still going to make a couple of observations re Woodford Patient Capital Trust (WPCT).

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Cat_Fixing_Lightbulb

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Oracle Power: Cynical Foul

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