After his senior role at disgraced broker, Daniel Stewart - enabling China frauds including Naibu - Paul Shackleton should have been banned from financial services. Instead, he is now earning a six-figure wedge at Peel Hunt. But the morally bankrupt bankster is getting a bit forgetful
I commented only last week that whilst the receipt of $748,400 on a loan from Argentina was a welcome development, I wasn’t sure it was enough to keep the wolf from the door at AIM-listed Rurelec (RUR) – the carcass left behind after it was run into the ground by Peter Earl. Today, at 2.38pm, the company slipped out its results for calendar 2021. So how’s the cash position?
AIM-listed Rurelec (RUR), the carcass left behind by Peter Earl after he ran it into the ground, reported last week that it had received a partial debt repayment from Patagonia Energy Group after it received a payment of $1 million from Energia del Sur in Argentina. Rurelec got $758,400, but is still owed over $13 million. So is this good news?
AIM-listed Rurelec (RUR) has been an untold disaster on AIM. Having ditched the Peter Earl regime, the directors who somehow managed to keep this crock afloat have now left and the outlook is truly grim.
I commented yesterday on AIM-listed Rurelec’s (RUR) after-hours FY results which were slipped out at no-one-is-watching o’clock on Wednesday whilst Boris was announcing his cabinet reshuffle (a good time to bury bad news). But there are some details worth looking at – for a start, the involvement of former boss Peter Earl, who ran the company into the ground before he was shown the door.
Last night at 5.20pm AIM-listed Rurelec slipped out its full year results to December 31 2020. Given that its previous team of directors slipped out of the door since period end, the evening of Boris Johnson’s cabinet reshuffle looks like a good time to bury bad news.
AIM-listed Rurelec (RUR) remains in deep trouble so many years on from the ousting of former leadership under Peter Earl, the latest problems having been covered HERE. In fact, as I have said many times, I am amazed it is still going at all. But yesterday it released news which I fear may spell the final curtain.
I have covered the downs and further downs of AIM-listed Rurelec (RUR) in some detail since the demise of former management led by Peter Earl, and marvelled at the fact that the company – despite everything thrown at it – is still here at all. But this morning’s announcement of a new “Independent” NED makes the stock totally uninvestable. So who is the mystery NED?
As we all know, intra-day trading statements are usually bad news and today’s update from AIM-listed and holed below the waterline by former management Rurelec (RUR) is no exception.
