Concha (#CHA) – kicked off AIM as reverse takeover not made
- 2018-10-05 06:59:59
UK 15:59 Saturday, 31 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Last night it was announced at 4.43pm that AIM-listed investment company Concha (CHA) had raised gross proceeds of £420,000 in a keep the lights on placing at 0.35p. The company trumpets that it was at a discount of 8% to the close the previous day, which makes it seem good value, although the shares cratered from 0.57p at around 1pm on the day of the announcement. No insider dealing there, then.
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.
Naughty naughty naughty. On Tuesday night Ve Interactive, the daft money guzzling new media start up into which Concha (CHA) unwisely invested on a £1 billion valuation went into administration and was at once bought ( one assumes for peanuts) by management and certain existing shareholders. Since Concha has not a lot of cash it is hard to see it being involved. But where is the statement? AIM Rules say something about timely disclosure yet we have had 24 hours with no RNS. Nope make that 36 hours...
Almost exactly a year ago, investment vehicle Concha (CHA) spunked £4 million on a 0.43% stake in new media darling Ve Interactive a deal and valuation that I branded as "insane". Hey ho, today's Sunday Telegraph suggests that the Sheriff of AIM is right once again.
Concha (CHA) has finally done a deal. Chris Akers can call me an old fart who does not understand the world of new media and he may well be right but what he has done appears insane.
Crazy market valuations aren’t exactly that unusual on the AIM market as hype plays a big part. But sometimes I have to pinch myself to check that I’m not seeing things when I see the values placed on some of the assets held by these companies – or in the case of Concha (CHA) a seeming lack of any actual assets to support its share price!
Featuring shares of Beowulf Mining (BEM), Concha (CHA), Oxford Biomedica (OXB), Pipehawk (PIP), Servision (SEV), Stellar Resources (STG), together with some share price targets.
Featuring Amur Minerals (AMC), Concha (CHA), DDD Group (DDD), Egdon Resources (EDR), Urals Energy (UEN)
The infamous bear raider Evil Knievil says that he has now closed out his short positions in both Quindell (QPP) and Avanti Communications (AVN). He tells me “I may have made a mistake” but he has a neutral position. Both stocks, however, remain on his watch list and he says he may re-enter the fray and it will not be on the long tack. Both he insists are hugely overvalued but calling short term moves is hard.
Would you pay Warren Buffett one pound to manage 5 pence of your money? No? I didn’t think so. Would you pay anyone a quid to manage 5p of your cash (that’s right you break even after he or she has twenty bagged the investment) No? I think we can agree that you would be crazy to do so. No argument there.
As it is increasingly difficult to short stock in the real pond life on AIM, I tend to steer clear of looking at these companies unless some stock becomes available. I was told about Concha (CHA) a few months ago and when a bit of borrow came up the other day I had a quick look at it to see if it was really was that bad.
I flagged up 6 days ago on 10th June that Concha (CHA) was at 2.18p the most ramped and overvalue stock on AIM. The shares are now 1.55p and the stock remains grotesquely overvalued, a point reinforced by a statement on 11th June by chairman Chris Akers who really is a prize bullshitter.
Concha (CHA) is quite possibly the biggest ramp on AIM. I Know that my pal Nigel Wray owns 10% but, sorry mate, the current valuation is just ludicrous.
