Already booted off the Casino after is all became too much for poor old Cairn Financial to continue as Nomad and Broker to ShareProphets AIM-China Filthy Forty play JQW (JQW), it seems that the company called a General Meeting to dump three NEDs. An announcement on the JQW investor relations website details the passing of the resolutions, but what about the Notice of General Meeting? When did investors find out about it?
ShareProphets AIM-China Filthy Forty play JQW (JQW) has served up a new year message for its now lobster-potted shareholders. It's goodbye, so long, farewell as its AIM execution beckons first thing on Monday morning.
Well, well, well. Blow me down with a feather - the shares saw a 25% drop yesterday on the biggest volume for six months and lo and behold, today the Nomad has resigned. Obviously nobody bailed it yesterday knew that this was coming. Obviously. ShareProphets AIM-China Filthy Forty company JQW (JQW) is now on Death Row, pending a one-way journey to becoming the eighteenth of the forty to depart AIM. It is also the twelfth Nomad resignation this calenday year on the Filthy Forty.
ShareProphets AIM-China Filthy Forty member JQW (JQW) saw a big 25% nose-dive in its share price today, on high volume. In the process it recorded a new end-of-day low, yet there is no news from the company. Are we witnessing the final death throes?
ShareProphets AIM-China Filthy Forty poster-boy JQW (JQW) has this morning issued a profit warning as the suspension of operations imposed by the Chinese authorities over advertising and pyramid-selling rule-breaches continues. Surely it is only a matter of time before the shares are suspended.
As George Osborne tweets lyrical about being the first UK minister ever to visit the key staging post at the end of China’s Silk Road, Urumqi, JQW has truly tried to make a silk purse from a sow’s ear. If you believe in the tooth fairy then you should buy the shares with all your might. Indeed, you should go down to the world’s local bank (HSBC) and get a mega-loan and buy the entire company for it is trading on a market capitalisation of £11.1 million (source: ADVFN) and yet has a cash pile of £46 million. Heck: shut down the business (except the Chinese authorities have already done that, for a month) and walk away with £35 million profit?
It is London Buses time once again here on ShareProphets.com. A quiet few days on the AIM-China Filthy Forty and then all of a sudden three dreadful RNSs all come at once. Nine Filthy Forty members have already departed stage left. Three more are on death row following Nomad resignations – China Chaintek (CTEK), ARC Capital (ARC) and Global Market Group (GMC) which receives its last rites today. And now today two further China plays announced dire news, JQW (JQW) and Vmoto (VMT) as well as a potential bidder walking out on Geong (GNG) in the wake of a few issues with revenue recognition. No doubt the auditors there (UHY Hacker Young) will be shown to have acted with all due care.
Yesterday we demonstrated quite clearly (HERE) why Camkids (CAMK) has committed accounting fraud and why the statement of yesterday just does not add up. We have been saying that this company is a fraud for months and months and that is now clear to all. The local auditors of Camkids and the now delisted fraud Naibu acted for three other AIM stocks, one of which is JQW (JQW). The other was Sorbic International, a now delisted fraud. JQW is also a fraud and we call for an immediate suspension of its shares as well.
AIM-listed JQW plc (JQW) – one of the Fujian four, from Fujian province in China announced its AGM result today, as well as the departure of Chief Financial Officer, Mr Kooi Wei Boon. Under normal circumstances, the FD departing out of the blue would not be taken well – and, indeed, JQW saw its shares slide 14% on the news – but given the general level of suspicion surrounding AIM-listed China frauds this is most unsettling news for anyone mad enough to be holding this stock.
Does Nomad Cairn have a shred of inegrity? If it does why has it not quit the JQW(JQW) account as yet again it has emerged today how Chinese investors have totally ignored AIM rules as they screw mug punters in the UK.
By way of background JQW is capitalised, at 10.25p, at £19.6 million. According to the Norfolk it generated a calendar 2014 profit after tax of £14 million and increased its cash position during 2014 by £5 million to £39 million. So why on earth would anyone be selling?
