MoneySwap (#SWAP) – ANOTHER China cancellation from AIM confirmed
- 2017-06-06 23:59:51
UK 14:40 Sunday, 4 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Truly, there are no winners from the pool of Bulletin Board morons, only those who succeed in making our eyes roll the furthest.
This week's contest is graciously sponsored by MoneySwap, the Filthy Forty constituent that has this week requested to be dropped from the AIM market.
Well this is very odd. I just thought I'd look up ShareProphets AIM-China Filthy Forty play MoneySwap's (SWAP) putative white knight rescue financier Wraith Holding BV as announced in recent RNSs on the OpenCorporates.com website. Guess what? It's not there. Can anyone explain?
The ShareProphets AIM-China Filthy Forty is set to have yet another casualty – this time MoneySwap (SWAP) which is proposing to follow Taihua (TAIH) and Jiasen (JSI) out of the back door via a cancellation EGM to become the twenty-seventh Casino delisting. But this will be after almost eight months suspended from trading. Oh Oxymorons at AIM Regulation, whatever happened to AIM Rule 41 which says that execution comes at the end of six months’ suspension? Why don’t you just apply your own rules? Does the AIM Rulebook count for nothing these days?
ShareProphets AIM-China Filthy Forty play and yet another Lin brothers AIM disaster story MoneySwap (SWAP) has finally released its outstanding FY numbers to March of last year and interims to last September. The shares have been suspended pending results since 21 September last year and under AIM Rule 41 the company had until today to get the suspension lifted or get booted off the Casino. But today we learn that the shares are to remain suspended, yet there is no mention of an impending execution. This is a regulatory shambles – especially when we consider the apparent reasoning.
ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) announced last week that it was in discussions with a new potential white knight saviour in the form of Wraith Holding BV, a Netherlands-based vehicle of a Mr Gilbert Armenta which has been incorporated for the purpose of investing into the company. But time is running out: having been suspended pending accounts since 21 September last year the company only has until a week on Tuesday to get both Finals to March 2016 and interims to September released or its AIM-listing is toast.
ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has been taking up a cell in the Casino’s Death Row since its shares were suspended pending accounts on 21 September 2016. Under AIM Rule 41 it has just days to release numbers or become the 25th departure from the Filthy Forty. Whatever happened to the links to Unionpay? The e-wallet? The software? And is Interim CEO Craig Niven again about to preside over the collapse and disappearance into the ether of a Lin brothers fiasco?
Yesterday ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) updated on its parlous financial position and the long-promised recapitalisation rescue. It has borrowed a bit more urgent financing, but warned investors that it’s suspension from trading on AIM (since 21 September last year) now has less than two months to run before the company is led to the AIM execution chamber.
Well I guess it is not dead yet, but ShareProphets AIM-China Filthy Forty poster-boy MoneySwap (SWAP) sure is pushing the line. Having bundled through shareholder authorities to get enough headroom available for a rescue bail-out at its last AGM even without a firm proposal on the table last June, apparently due to the urgency of the situation, here we are six months on and still there is no deal – and the company is running on the fumes of a series of emergency loans. What’s the point?!
Shares in Moneyswap (SWAP) are suspended on the AIM Casino as the company can't get its accounts for the year to March 31 out (still) and because there are clear financial issues. But Nomad Allenby is clearly desperate for retains as it won't quit this obvious fraud. Well perhaps when it reads the expose that follows it will at last do the decent thing....
Well that didn’t take long: at 9.53 up goes our piece (HERE) pointing to the possibility that ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) could find itself suspended out of the blue with no warning (apart from HERE) and lo and behold the shares are suspended 37 minutes later (see HERE) because the company can’t get its accounts to March out on time. In view of this and in honour of the disappearance of QE Mr Stewart Dickson (formerly Dick) from Nomad Cantor Fitzgerald in the wake of the African Potash (AFPO) scandal (see HERE) I have changed my name to Mystic Meg.
I wondered HERE whether the proposed rescue refinancing of stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) could get into a spot of bother as the shares were sliding. Now they have slipped below the mooted bail-out price of 0.2c per share.
It was announced on Monday afternoon that stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has drawn down another additional £147,000 under a keep-the-lights-on bridging facility whilst it tries to get a refinancing together. It has now borrowed $395,000 of a $200,000 facility, plus three extensions. Oh, and its CEO walked last week, with (apparently) non-Exec Chairman Craig Niven stepping in as interim CEO. Except on Monday he was still being noted as non-Exec in the RNS.
