UK 02:58 Friday, 9 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Having already published an open letter to IGas’ (IGAS) Nomad, Jefferies International, asking it to look into a holding of 10.25m shares registered to Bank of New York Nominees on 25 November 2014 (HERE) which exceeds 3% of the issued shares I have been doing some number crunching. The results throw up either the most incredible coincidence, or a demonstration that IGas CEO Andrew Austin has handed over 2.75m more shares to EFH than the 7.5m shares disclosed the very next day after this 10.25m share holding was registered. Here is why.
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Comments
turbograndad
Nigel,
Only 2 words for it share laundering, unless he tells you different, which so far no explanation has been released, the devil is as always in the detail.
This you have clearly shown, come on Piggy speak up, oink oink.
Malc
Tom
You need to be careful as IMO you are going too far and he may sue you, so please be careful with your accusations.
I am following you and your shorts re Igas, any updates on that please as the shares have recently spiked.
Thanks.
rob
I thought EFH always sell the shares immediately into the market ? Is this different to other deals ? If so who stands where now at current price ? Great piece by the way !
nigel somerville
Malc – I think we are allowed to ask questions, are we not? I’m not making any accusations here, merely pointing out an incredible coincidence.
If IGas and its CEO want to stop the questions, they could simply give full details of what has actually been going on with that EFH deal. I note that STILL, for example, the date of the transaction as not been given (a requirement of AIM Rule 17). Why not?
I have no position long or short in IGas, just for the avoidance of doubt. IGas currently looks to have the EFH controversy against it (easily fixed by disclosing the full deal and details of dates etc), a lowly oil price (not much they can do about that) and a wall of debt which could see covenants under serious pressure v shortly and a forced rescue placing as a result. Personally I would steer well clear.
Malc
Nigel,
Thank you for the detailed response. Indeed, you have every right to ask that question and my apologies for misunderstanding that.
The recent spike in the share price, IMO it’s just a spike. I too hold no position in Igas but always looking to make money but too much against fracking IMO to take a risk at current prices.
Thank you,
M