The statistics for AIM for December 2019 show that the market contracted to 863 companies its lowest number since 2003. The real concern for the LSE should be the shockingly low number of new listings a derisory 23, the lowest number of new issues ever since the market as formed in 1995. The quantum of new monies raised was also very low by historic standards at £489 million and this figure is not adjusted for the impact of inflation.
By now those who have ploughed almost £30 million into Polat Hassan’s City boiler room scams One True View and Appbox Media which we have exposed on this website of late will have realised that they are set to lose everything. Meanwhile, as the FCA sits around doing nothing I fear this could get much wider, Meet Eden Pharma Ltd.
I am coming under some pressure not to knock Vox Markets ahead of its IPO on the NEX lobster pot, but its accounts for the year ended August 31 have been delivered to Companies house and are a total joke. If this POS lists and fails, as it will, the accountants Plan-A financials of Brentwood Essex should be sued to high heaven as these numbers are a joke.
Even half way up a mountain in rural Greece, news reaches me that the spoof that is the Vox Markets NEX Lobster Pot IPO following the collapse of the merger with Align, looks to be devolving from the sublime into the ridiculous. NEX is a great place to list if you want to lie to investors but not if you are expecting any liquidity at all in your shares.
The Evening Standard has got hold of a shocking memo from the Financial Conduct Authority's chief operating officer Georgina Philippou in which she said she was “appalled about the incidents of bad behaviour towards our building and colleagues.” It gets better...