Andrew "Piggy" Austin spunks £303k in six months at Rock Rose (#RRE) promises jam tomorrow

RockRose Energy – more on the Employee Benefit Trust, implications for NAV – and another error

We still don’t have an answer to the question posed regarding a share issue of 700,000 shares at 50p a pop in November 2015 (ignored in the Admission Document). Nor do we have an answer to the question over how share with a nominal value of 0.5p were consolidated 4:1 into share of 20p. I would argue that the Companies House filings of LSE Main Market (Standard) Listed RockRose Energy (RRE) has serious questions to answer. Who benefits from the Employee Benefit Trust is (at least for now) in no longer a question – but there another error.

RockRose Energy – more filings from the pig-sty on Companies House. How can we possibly believe the Admission Document?

We have already flagged up a bit of a mis-match of data between the Admission Document and the Companies House filings of the newly floated RockRose Energy (RRE) on a Standard Listing of the Main Market of the London Stock Exchange – see HERE. But on the day of that first article, Companies House later showed that a correction had been filed (on 7 Jan 2016, as it turns out). A further filing appeared the next day (filed on Christmas Eve). What it seems to show is that the Admission Document was just plain wrong. Or the filings are wrong – even after the correction. This is turning into a farce from Andrew “Piggy” Austin, formerly of IGAS.

RockRose Energy - more Companies House filings to believe from Piggy Austin

I raised questions over the veracity of either the Admission Document or the Companies House filings (HERE) of disgraced former Igas boss Andrew "piggy" Austin's new vehicle, RockRose Energy (RRE) with its Standard Listing on the main board of the London Stock Exchange. Now it seems that there are one or two corrections being processed by Companies House.

RockRose Energy – new issue is no silk purse, it’s a pig’s ear from Piggy Austin of IGAS shame

This morning saw the return of Andrew “piggy” Austin of IGAS infamy to the London Stock Exchange with the Standard Listing of his new vehicle, Rockrose Energy (RRE). Incoming punters paid 50p a share for (at best) about 41p of assets – nice work for the Broker, Macquarie Capital. But there are a few problems which arise when comparing the Admission Document (HERE) with the company’s Companies House filings. For starters, what is the nominal value of the shares? Is it 2p or 20p? And just how many shares have been issued? This looks to be a pig in a poke.