UK 16:17 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
I kid you not. Allowing for a share consolidation, shares in Mercantile Ports & Logistics (MPL) – now 3.5p - really are down 99.86% from the IPO, not bad for a safe real estate development company operating in one of the world’s fastest growing economies (India). Okay so the last CEO has recently pleased guilty to a $300 million US securities fraud, we have highlighted numerous red flags on this website over the years but it has a Tory toff on board ( Lord Flight) so I suppose it must be terribly pukka after all. Today, yet another placing and retail offer with £8.9 million raised at 3p. Who could be so mad?
Let us be clear, Mercantile Ports & Logistics (MPL) is not on trial itself.But none the less this looming $300 million fraud trial is another red flag for this perennial AIM uber dog.
It should not be me contacting the Oxymorons at AIM Regulation about this it should be Nomad and broker Cenkos Securities and Primary Bid which raised money at 0.45p per share on August 19, putting their clients into this serial dog. Indeed, Lagos Securities should be considering whether, in light of today’s share suspension, it can continue to act as Nomad for Mercantile Ports and Logistics (MPL). I believe that should be resigning at once. I have written to the Oxymorons as you can see below.
I keep being promised a call from the chimpanzees that claim to manage Primary Bid explaining why it was prepared to raise cash for Mercantile Ports & Logistics (MPL) at 0.45p on 19 August. Here we are, just six weeks later, and the shares have been suspended at 0.3p to sell. At this point will Primary Bid finally accept that its due diligence process for client take on needs a dramatic overhaul.
Tonight’s offer from Primary Bid is Mercantile Ports (MPL) at 0.45p. If you register for Primary Bid through us (and please do so here), we earn a small fee each time you take part in an offer. Notwithstanding that, I suggest you do not take up this offer. This is a bargepole stock, a company that should have been slung off AIM years ago as it is a disgrace to capitalism. I have written to Primary Bid.
Okay AIM is loathe to boot off any company given how the World’s Most Successful Growth market is shrinking and Lagos Securities just wants retainers so will act for anyone, I answer my own question. But even by the standards of the AIM Cesspit, surely there comes a point where one says “enough is enough.”
The fact that Mercantile Ports & Logistics (MPL) is run by a crook and has misled investors on a serial basis over many years is not in doubt. Yet greedy City financiers, notably Nomad & broker Lagos Securities (CNK) continue to earn vast sums raising cash for this POS which claims to be making progress on building a new port in Bombay, India. The photos below demonstrate that is just plain horse.
I have always thought that Mercantile Ports & Logistics (MPL) was utterly uninvestable because its statements via RNS were so often untrue and because its chairman Mr Nikhil Gandhi was er... "incredibly colourful" as you can see in my detailed coverage HERE.
Mercantile ports & Logistics (MPL) shares rocketed by 66% on Friday to 8.125p on the back of an upbeat statement from a company which we have exposed (see HERE) as serial liars. Perhaps amid the celebrations I might offer a few thoughts on the most important part of the jackanory:
When disgraced AIM casino posterboy Mercantile Ports & Logistics (MPL) moves from being a member of the minus 98% club in which it currently sits to being a member of the minus 100% club, I want it known that Nomad Cenkos has been fully aware of massive issues all along and has done nothing other than bank obscene fees. As such we have run a series of letters from a big shareholder to Amber Wood, head of Corporate Governance at Lagos Securities, HERE and HERE and HERE and HERE and HERE and HERE Now for letter six which puts fragrant Amber and Lagos, Nomad to the Quindell (QPP) fraud as well, on notice for when the final wipeout occurs that they will be held accountable. This letter has also been cc'd to AIM Regulation - I know they are useless but surely even they must realise that Lagos Securities has "form."
Over the past few weeks we have published a string of letters sent by a significant shareholder in AIM listed Norfolk Mercantile Ports & Logistics (MPL) to its Nomad Cenkos so that when Mercantile runs out of other people's money as it surely will, the shamed former adviser on the Quindell (QPP) fraud cannot say that "it did not know." Its role is on the record as you can see in our full coverage HERE. Now that same shareholder has written to Daniel Slater, the analyst at co broker Arden Partners responsible for - arguably - the worst research note of 2017.
The house broker on AIM earns its money not from investors but from corporates. It banks £2-4,000 a month as a retainer and then makes 5% commission on any funds it raises. Lovely jubbly, coke and hookers all round. Of course that makes its research less than impartial. Prostitutes do not tell their clients that they have a small dick and so you would not expect Arden Partners to conclude that shares in Mercantile Ports & Logistics (MPL) are worthless crap, which they are. Welcome to a strong contender for the worst research note of the year to date.
When disgraced AIM casino posterboy Mercantile Ports & Logistics (MPL) moves from being a member of the minus 98% club in which it currently sits to being a member of the minus 100% club, I want it known that Nomad Cenkos has been fully aware of massive issues all along and has done nothing other than bank obscene fees. As such we have run a series of letters from a big shareholder to Amber Wood, head of Corporate Governance at Lagos Securities, HERE and HERE and HERE and HERE and HERE. Now for letter six which puts fragrant Amber and Lagos, Nomad to the Quindell (QPP) fraud as well, on notice for when the final wipeout occurs that they will be held accountable. This letter has also been cc'd to AIM Regulation - I know they are useless but surely even they must realise that Lagos Securities has "form."
When disgraced AIM casino posterboy Mercantile Ports & Logistics (MPL) moves from being a member of the minus 98% club in which it currently sits to being a member of the minus 100% club, I want it known that Nomad Cenkos has been fully aware of massive issues all along and has done nothing other than bank obscene fees. As such we have run a series of letters from a big shareholder to Amber Wood, head of Corporate Governance at Lagos Securities, HERE and HERE and HERE and HERE. Now for letter five which puts fragrant Amber and Lagos, Nomad to the Quindell (QPP) fraud as well, on notice for when the final wipeout occurs that they will be held accountable. This letter has also been cc'd to AIM Regulation - I know they are useless but surely even they must realise that Lagos Securities has "form."
When shamed AIM casino posterboy Mercantile Ports & Logistics (MPL) moves from being a member of the minus 98% club in which it currently sits to being a member of the minus 100% club, I want it known that Nomad Cenkos has been fully aware of massive issues all along and has done nothing other than bank obscene fees. As such we have run a series of letters from a big shareholder to Amber Wood, head of Corporate Governance at Lagos Securities, HERE and HERE and HERE. Now for letter four which puts fragrant Amber and Lagos, Nomad to the Quindell (QPP) fraud as well, on notice for when the final wipeout occurs that they will be held accountable.
When AIM listed Mercantile Ports & Logistics (MPL) disappears up in smoke having sent tens of millions of UK Investor cash to money heaven, the stink will force Nomad Cenkos to show that it acted in a way that did not bring the Casino into disrepute, as it did when it allowed Quindell to commit wholesale fraud. Thus one shareholder, a veteran of the ports and logistics industry, is putting Cenkos on record now so that it can have no excuse at the death. letter one HERE raised clear questions of fraud. Letter two HERE showed more cases of how Mercantile misled investors. Now the shareholder has followed up again with a third letter to the head of corporate governance at Lagos Securities, Amber Wood, cc'ing in Redleaf, the PR to Mercantile as well as Quindell at the height of that fraud. Do Cenkos and fragrant Amber give a toss about clients lying to investors?
When AIM listed Mercantile Ports & Logistics (MPL) disappears up in smoke having sent tens of millions of UK Investor cash to money heaven, the stink will force Nomad Cenkos to show that it acted in a way that did not bring the Casino into disrepute, as it did when it allowed Quindell to commit wholesale fraud. Thus one shareholder, a veteran of the ports and logistics industry, is putting Cenkos on record now so that it can have no excuse at the death. letter one HERE raised clear questions of fraud. Now the shareholder has followed up with a second letter to the head of corporate governance at Lagos Securities, Amber Wood, cc'ing in Redleaf, the PR to Mercantile as well as Quindell at the height of that fraud.
There is clear evidence that Mercantile Ports & Logistics (MPL) has misled investors ahead of raising vast amounts of cash on the AIM Casino. Its Nomad Cenkos Securities (of Quindell infamy) appears unconcerned as long as it keeps banking the fees. When this company unravels and goes to zero as it surely will, the shameful way that Lagos Securities has brought the casino into disrepute by ignoring stacks of red flags shown to it, will surely leave it in the merde. A shareholder who happens to be a ports industry specialist has written to Cenkos’s representative for Governance matters Amber Wood (ccing in PR specialist Redleaf which also acted for the Quindell fraud). The damning letter is below. It is truly shocking...
