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Latest News

RCN
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Redcentric – “pleased to be able to report that trading is in line with expectations”. Hmmm…

After announcing “Accounting misstatements” in November, Redcentric (RCN) is “pleased to be able to report that trading is in line with expectations” and “good sales momentum in the year” (to 31st March 2017). Hmmm…

TAIH
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Filthy 40 Taihua - last chance to get out ahead of delisting

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) deslists at the close of play today. If you want to claim your bag of Walkers, now's your last chance - unless you want to take your chances on suggestions of a possible offer from a major shareholder and management coming to fruition at a better price following this weekend's scheduled lethal injection in the basement of Stuttard Towers.

TCM

Telit Communications – discounted £39m placing “to fund several identified acquisition opportunities”. Hmmm…

The most shorted company on AIM, Telit Communications (TCM) has announced “it has successfully placed” new shares to raise £39 million “to fund several identified acquisition opportunities, mainly in the IoT Services sector, which the company will look to execute in the near to medium term”. Hmmm…

SEPU
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Sepura – The rollercoaster deal continues: could this be the first Brexit-related deal implosion?

Sepura (SEPU)'s deal with Hytera has had more twists than last night’s Midsomer Murders and just when there seemed to be some light at the end of the tunnel, long-suffering shareholders were dealt another body blow this morning - and one fears that politics may now be at play.

AVO
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Advanced Oncotherapy – the 25p dam bursts. What now for Bracknor as shares resume slide towards the abyss

You can’t say you have not been warned. This morning shares in AIM-listed Advanced Oncotherapy (AVO) have fallen firmly below the nominal 25p price of the confetti. Companies are not allowed to issue shares below their nominal price and that, in turn, means that for the time being Bracknor is lobster-potted with something like £2.5 million of convertible (death-spiral) loans which it cannot convert. My heart bleeds….

RSA

Things Are Looking Up in this Royal Family. Could Be Worth a Few Sovereigns

Hello Share Gobblers. My relationship with RSA Insurance Group (RSA) goes back to the long-gone days when it was Royal Insurance. And it has generally not been a happy one.

IMG

Imagination Technologies – trading, Apple & strategic review update not exactly promising

I previously commented on Imagination Technologies (IMG) a month ago in the aftermath of a “Discussions with Apple regarding license agreement” announcement – on which I noted that the company had rather been “notified” and “asserted” to than in “Discussions with” and that it looked to be daunting organisational upheaval ahoy for it to attempt to achieve a sustainable future. There is now a “Trading and Apple update, planned sale of units” announcement…

ECR

ECR Minerals - another small delay in Chinese dosh arriving, but still a buy

Back on 27 February, ECR Minerals (ECR) announced that Shenyang Xinliaoan Machinery Co Ltd was to invest £553,564 at 1p. The cash has still not arrived.

CHA
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Concha - Stop bleating on Ve - you screwed up please no second helpings

Dear Chris Akers. Excuses are like arseholes. We all have them. And no-one cares. And that brings us to today's announcement from your company Concha (CHA) regarding its disastrous investment in failed unicorn Ve Interactive.
Despite there being stacks of red flags Concha invested c £4 million in Ve in a £1 billion valuation, a decision which we pointed out at the time was completely bonkers.

TRK
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Torotrak – you couldn’t make it up, value destruction so bad that now a General Meeting is required!

An announcement from Torotrak (TRK) entitled “Section 656 of the Companies Act 2006”. Hmmm, given the record here, I guessed this wasn’t good news… It ain’t…

NXT

Next - profit warning ahoy #2

The seasons may have evolved a little but the message from FTSE-100 clothing behemoth Next (NXT) is basically unchanged. Life is still tough in a market where, in its words, ‘the UK consumer environment remains challenging’...

PSL

Photonstar LED – thanks Nigel & a few more things…

Nigel Somerville commented earlier on how for those suckered in by the Photonstar LED (PSL) ramparoonie, it’s now mega-dilution ahoy (monster-discount placing shares representing a 19.8% increase in the issued share capital). I thank Nigel for the kind words – and make a further few points…

KEFI

More good news from Ethiopia for Kefi - still a buy

Most of us probably did not know or had forgotten that Kefi Minerals (KEFI) had a $12 million contingent legacy liability. Well that has now been 96% disappeared.

AAU

Ariana remains a buy after resource update

I recently wrote a piece HERE expressing my surprise that the share price of Ariana Resources (AAU) had failed to react positively to good news, so it probably shouldn’t have come as a surprise that a decent update on its resource actually resulted in the share price closing slightly lower.

PSL

Photonstar LED – after-hours monster-discount placing. Anything to see here Guv?

AIM-listed Photonstar LED (PSL) was the subject last week, in the wake of a rampfest RNS, of a Steve Moore conclusion of no financials, no cash, avoid. How bang-on-the-(lack of)-money, for last night the company – well after-hours at 5.24pm – announced a massively discounted keep-the-lights-on placing for a paltry £465,000 at an even more paltry 1.25p – vs a 2nd May closing price of 2.85p and yesterday of over 3p. Nice work. Now take a peek at the share price and volume chart of yesterday, courtesy of ADVFN. Surely it could not be that there was mass forward-selling of placing shares between 8am and 3pm?

TSCO

Tesco May Be Heavily Traded - But I Rather Wish I'd Not Bothered Myself

Hello Share Grapplers. It seems that two of the most popular shares being bought and sold by we great band of punters at the mo are Lloyds Group (LLOY) and Tesco (TSCO). I looked at Lloyds yesterday, reckoning it has the making of a good buy because of slow, if unspectacular, progress revealed in its last quarterly figures. I’ll turn to another well-traded share, Tesco, today.

RXB
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Rex Bionics – from 180p to 10p in less than 3 years, but expresses ‘delight’ & thanks shareholders and resigning Nomad Stifel!

“Restructuring and New Investment” announcement from Rex Bionics (RXB) sees Chief Executive Crispin Simon “delighted that the alternative options we have been pursuing have borne fruit” and Chairman David Macfarlane “warmly thank our shareholders, who have made this possible. I would also like to take this opportunity to thank our nominated adviser, Stifel, for its unstinting support over the past three years”. Sounds a good outcome then, strange though as I previously noted the company approaching a transaction from the perspective of going-concern desperation. Hmmm…

INSP
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Inspirit Bailout Placing - tell me there was no market abuse here: look at the chart

Look at the daily chart below. Tell me there was no insider dealing or market abuse going on here. It is that of Inspirit Energy (INSP). And then at 2.10 PM we finally had two announcements.

AVO
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Advanced Oncotherapy – Uh-oh: Aviva bailing as 25p nominal dam buckles under the strain

Oh dear. Oh dearie me. AIM-listed Advanced Oncotherapy (AVO) has released a TR-1 from institutional investor Aviva showing that it has been dumping shares and went below the disclosable threshold to 2.44% last Friday in terms of its directly held interests. It had a further 0.66% interest via loaned out shares. Meanwhile Advanced Onco shares today fell below the 25p nominal price of its confetti, leaving death-spiral funder Bracknor in a bit of a pickle just five days after ponying up tranche 2 of convertible loans which it can’t convert for less than 25p. Ouch.

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