AIM-listed alternative energy provider Yu Group (YU.) shares have been on a tear ever since it released a trading update on 26th January this year. The shares moved up from a previous close of 120p to close the day at 195p. Today, last seen, the stock is up to 355p having been as high as 370p but something just does not add up here.
AIM-listed alternative energy provider Yu Group (YU.) updated the market this morning with a trading update which reads extremely positively. The shares are up by a very impressive 40%, but something was missing in this morning’s release. Will investors piling in this morning come to regret it?
I have been flagging up for ages that AIM-listed Yu Group (YU.) needs to raise money. After all, by its own admission it will run out of cash by the end of the year. Now, all of a sudden and with no news, the shares are off by 10%.
AIM-listed and due for an imminent placing Yu Group (YU.) released a Director Dealings announcement this morning. Given that it has already admitted it needs more cash, my spoof sensors were set ablazing.
AIM-listed energy provider Yu Group (YU.) has this morning announced a new 'Long-Term Incentive Plan' for directors and senior management. The terms, from a shareholder perspective, look OK but Yu’s balance sheet suggests to me that this is more about spoofing investors than rewarding management...
Last week's interim results for Yu Group (YU.) show net assets of £3,753,000 but this includes £4,730,000 of a deferred tax asset. Without this asset, the group would be technically insolvent as liabilities would exceed assets.
AIM-listed Yu Group (YU.) announced its Interims to June this morning – deadline day, never a good sign – and the balance sheet shows it is in a mess.
Yet another Red Flag was hoisted above AIM-listed Yu Group (YU.) Towers this morning as it announced its pleasure at appointing SP Angel as Nomad/Broker. Whilst I have little time for any Nomad, surely ex-appointee Shore Capital carried a little more gravitas than the Nomad to Versarian (VRS) and Eurasia Mining (EUA) not to mentiuon the MySquar )MYSQ) fraud where it turned a blind eye to crime, and SP Angel’s broker side has been hit with the scandal at Skinbiotherapeutics (SBTX). But did Shore Capital walk, or was it pushed?
AIM-listed Yu Group (YU.) has this morning updated on the investigation by AIM Regulation into the shambolic mis-reporting of profits/receivables etc which saw the company write off c. £10 million from its 2018 accounts. The result? A £300,000 fine - surely far too light - which has been waived for co-operating with the enquiry! The lesson from AIM Regulation for less than scrupulous AIM Directors is that fraud is no problem – just get on with it and we’ll do nothing at all. There is no moral hazard.
AIM-listed alternative energy supplier Yu Group (YU.) yesterday offered up a half-year trading statement ahead of interims on Wednesday 30 September (deadline day to avoid suspension - a bit of a Red Flag). Having always advertised plenty of cash but turning out to be running short in the net current assets department, is it any different this time? I fear not.....
